Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 35.7 to 31.1.
-
Busy address KBO
17 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
H&M NB Belgium from Brussel, company number BE0677512930, closed financial year 2025 with a result of € 37,139 after tax. For that financial year H&M NB Belgium recorded a gross margin of € 2.2 million and equity of € -2.9 million. Compared with financial year 2024, the result moved from € -79,506 to € 37,139. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ -2.9 million
▲ € 37,139 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 37,139
▲ still € 79,506 loss in 2024
Profit after tax over the fiscal year.
€ 40,451
▼ 89% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -2.9 million.
People and assets in 2025
31.1
▼ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▼ 4% vs 2024
€ 51,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2,780
▼ 26% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.5 million
▲ 16% vs 2024
Loans from banks and other lenders, long and short.
€ 491,483
▼ 50% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 302,920
▼ 15% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,582,638 | € 3,191,356 | € 2,174,488 | € 2,206,437 | ▲ 1% |
| Profit after taxes | € 97,593 | € -17,146 | € -79,506 | € 37,139 | ▲ € 116,645 |
| Equity | € -2,823,659 | € -2,840,805 | € -2,920,311 | € -2,883,172 | ▲ € 37,139 |
| Total debts | € 7,044,858 | € 7,022,987 | € 4,928,285 | € 4,651,514 | ▼ 6% |
| Cash | € 415,847 | € 542,908 | € 354,196 | € 40,451 | ▼ 89% |
| Retained profit | € -2,885,159 | € -2,902,305 | € -2,981,811 | € -2,944,672 | ▲ € 37,139 |
| Bank debt | € 5,337,841 | € 5,338,916 | € 2,968,226 | € 3,455,207 | ▲ 16% |
| Balance sheet total | € 4,221,199 | € 4,182,182 | € 2,007,974 | € 1,768,342 | ▼ 12% |
| Employees (FTE) | 39.2 | 35.7 | 31.8 | 31.1 | ▼ 0.7 |
Key figures of H&M NB Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 June 2027.
What happened to H&M NB Belgium?
What happened at H&M NB Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Carl Gemzell stepped down as director. NBB
- Eric Ahlberg stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 37,139. Source: NBB ↗
- Peter Ekeberg stepped down as director. NBB
- Carl Gemzell became a director. NBB
- Peter Ekeberg became a director. NBB
- Eric Ahlberg became a director. NBB
- New establishment in Antwerpen. KBO
In short
From € 97,593 profit in 2022 to € 37,139 profit in 2025.
Best year ever: 2022, with € 97,593 profit.
On average € 70,900 of value added per employee in 2025.
Management
The shares are held by H&M Hennes & Mauritz GBC AB (99.8%) and H&M Hennes & Mauritz International AB (0.2%).
Directors
According to the 2025 annual accounts
since 2023 · until 2025
since 2025 · until 2031
since 2023 · until 2029
Shareholders
H&M Hennes & Mauritz GBC AB
99.8%
H&M Hennes & Mauritz International AB
0.2%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Kruidtuinlaan 20
1000 Brussel
Louizalaan 30
1050 Brussel
Active since 23 June 2017
Huidevettersstraat 33-35-37
2000 Antwerpen
Active since 15 February 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 17 companies are registered at this address.
All companies at this address →Gewestelijke Ontwikkelingsmaatschappij voor het BrusselsHoofdstedelijk Gewest
€ 34.1 million revenue · 2025
AGALLIS
€ 3.7 million revenue · 2025
Maison Syndicale Internationale
€ 375,000 revenue · 2023
IMMOTIVOLI
€ -13,423 gross margin · 2025
institut syndical europeen
€ 175,510 revenue · 2025
+12 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0677.512.930
- VAT number
- BE 0677.512.930
- Registered office
- Kruidtuinlaan 20, 1000 Brussel
- Names & denominations
- H&M NB Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 June 2017
- Peppol
- Active · Active since 18 Aug 2025
- Activities · NACE
Detailhandel in dames-, heren-, baby- en kinderboven- en onderkleding en kledingaccessoires (algemeen assortiment)