Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
30 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
HQ1 from Liège, company number BE0738871467, closed financial year 2025 with a result of € -81.7 million after tax. For that financial year HQ1 recorded revenue of € 112.4 million and equity of € -98.8 million. Compared with financial year 2024, the result moved from € -18.3 million to € -81.7 million. The company made a loss. 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 15, 2026.
€ -98.8 million
▼ € 106.7 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -81.7 million
▼ 346 % more loss than in 2024
Profit after tax over the fiscal year.
€ 34,259
▼ 31% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -99.1 million.
People and assets in 2025
354.7
▼ 23.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 33.4 million
▼ 5% vs 2024
€ 94,200 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.
€ 976,284
▼ 14% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 4.4 million
▼ 14% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 74 days on average.
€ 4.2 million
▼ 7% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 35,308,328 | € 46,634,847 | € 110,712,742 | € 112,417,755 | ▲ 2% |
| Profit after taxes | € 272,639 | € 749,523 | € -18,292,001 | € -81,656,298 | ▼ € 63.4 million |
| Equity | € 350,342 | € 1,099,864 | € 7,843,467 | € -98,812,831 | ▼ € 106.7 million |
| Total debts | € 13,779,546 | € 13,433,864 | € 422,872,851 | € 580,526,343 | ▲ 37% |
| Cash | € 3,931 | € 9,065 | € 49,601 | € 34,259 | ▼ 31% |
| Retained profit | € 100,342 | € 849,864 | € 7,593,467 | € -99,062,831 | ▼ € 106.7 million |
| Dividend | € 0 | € 0 | € 0 | € 25,000,000 | |
| Bank debt | € 5,012,688 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 14,129,888 | € 14,533,728 | € 430,728,318 | € 481,713,512 | ▲ 12% |
| Employees (FTE) | 343.9 | 381.3 | 377.9 | 354.7 | ▼ 23.2 |
Key figures of HQ1, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to HQ1?
What happened at HQ1 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- EMMANUEL MEWISSEN stepped down as director. NBB
- Nicolas LEONARD stepped down as director. NBB
- JEAN-CHRISTOPHE CHOFFRAY stepped down as director. NBB
- Sylvain BONIVER stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 81.7 million. Source: NBB ↗
- EMMANUEL MEWISSEN became a director. NBB
- Nicolas LEONARD became a director. NBB
- JEAN-CHRISTOPHE CHOFFRAY became a director. NBB
In short
From € 272,639 profit in 2021 to € 81.7 million loss in 2025.
Paid € 14.8 million in corporate taxes since 2021.
Best year ever: 2022, with € 749,523 profit.
Paid out € 25 million in dividends to the owners in total.
A new publication or filing at HQ1? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of ARDENT FINANCE, Meuse Bidco comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
HQ1The shares are held by ARDENT FINANCE (100%) and Meuse Bidco (100%). It owns 100% of ARDENT BETTING, 100% of ARDENT CASINO INTERNATIONAL, 100% of PROCURE1, 100% of BSMANAGEMENT, 100% of CORTEX HOLDING and 100% of CASINO DE SPA itself.
Directors
According to the 2025 annual accounts
EMMANUEL MEWISSEN
Président du Conseil de Surveillance
Also active at: EURO 78, GAMES SERVICES, ODDS SPORTSBAR, CASINO DE SPA, SLOTS, PRES CARATS SPORTS, WINVEST, PARC D'ATTRACTION LIEGEOIS +17 more
since 2022 · until 2028
Nicolas LEONARD
Managing director
Also active at: EURO 78, GAMES SERVICES, ODDS SPORTSBAR, CASINO DE SPA, PRES CARATS SPORTS, WINVEST, PARC D'ATTRACTION LIEGEOIS, CIRCUS BELGIUM +11 more
since 2022 · until 2028
since 2022 · until 2028
Sylvain BONIVER
Managing director
Also active at: CIRCUS BELGIUM, CORTEX HOLDING, ARDENT FINANCE, ARDENT CASINO BELGIUM, PROCURE1, Meuse Midco, BIGB GAMING, BSMANAGEMENT +1 more
since 2022 · until 2028
Shareholders
100%
100%
Participations
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
CIRCUS SALONES
16.3%
Establishments
Establishment units
Physical locations of this company
Rue des Guillemins 129
4000 Liège
Avenue Baron de Moreau 1
5000 Namur
Active since 9 December 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 30 companies are registered at this address.
All companies at this address →EURO 78 same network
€ 1.1 million revenue · 2025
GAMES SERVICES same network
€ 2.2 million revenue · 2025
SLOTS same network
€ 3.8 million revenue · 2025
PRES CARATS SPORTS same network
€ 1.8 million revenue · 2025
PARC D'ATTRACTION LIEGEOIS same network
€ 733,868 revenue · 2025
+25 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
- 0738.871.467
- VAT number
- BE 0738.871.467
- Registered office
- Rue des Guillemins 129, 4000 Liège
- Names & denominations
- HQ1
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 9 December 2019
- Peppol
- Active · Active since 27 Oct 2025
- Contact
- [email protected] 0032 4 228 32 00
- Activities · NACE
Activiteiten van hoofdkantoren
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Diverse administratieve activiteiten ten behoeve van kantoren
Activiteiten van holdings
Overige zakelijke dienstverlening, neg
Holdings