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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Tight liquidity NBB
Cash and receivables cover 10 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
H.NCD from Brugge, company number BE0859582821, closed financial year 2026 with a result of € 1.5 million after tax. For that financial year H.NCD recorded revenue of € 615,500 and equity of € 8.5 million. Compared with financial year 2025, the result moved from € 84,755 to € 1.5 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on October 28, 2026.
€ 8.5 million
▲ 161% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.5 million
▲ € 1.5 million vs 2025
Profit after tax over the fiscal year.
€ 110,953
▲ 277% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 300,000 paid out
20 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2026
2.9
▼ 0.1 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 316,115
€ 109,000 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.
€ 89,613
▼ 17% vs 2025
Of which on lease € 17,447.
Debts at end 2026
€ 1.1 million
▼ 24% vs 2025
€ 322,275 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 46,747
▲ € 37,257 vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 101 days on average.
€ 105,150
▲ 43% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 223,200 | € 277,650 | € 502,500 | € 615,500 | ▲ 22% |
| Profit after taxes | € 793,691 | € 75,646 | € 84,755 | € 1,537,247 | ▲ € 1.5 million |
| Equity | € 3,100,403 | € 3,176,049 | € 3,260,804 | € 8,498,051 | ▲ 161% |
| Total debts | € 1,374,899 | € 2,276,945 | € 2,385,740 | € 2,549,478 | ▲ 7% |
| Cash | € 6,856 | € 15,375 | € 29,429 | € 110,953 | ▲ 277% |
| Retained profit | € 2,936,403 | € 3,012,049 | € 3,096,804 | € 4,334,051 | ▲ 40% |
| Dividend | € 0 | € 0 | € 0 | € 300,000 | |
| Bank debt | € 1,019,219 | € 1,535,557 | € 1,502,276 | € 1,147,582 | ▼ 24% |
| Balance sheet total | € 4,475,302 | € 5,452,993 | € 5,646,544 | € 11,047,529 | ▲ 96% |
| Employees (FTE) | 2 | 2.3 | 3 | 2.9 | ▼ 0.1 |
Key figures of H.NCD, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to H.NCD?
What happened at H.NCD in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 1.5 million (▲ € 1.5 million vs 2025). Source: NBB ↗
- Start of the company according to the CBE. KBO
- New establishment in Brugge. KBO
In short
From € 793,691 profit in 2023 to € 1.5 million profit in 2026.
Paid € 2,743 in corporate taxes since 2023.
Best year ever: 2026, with € 1.5 million profit.
Paid out € 300,000 in dividends to the owners in total.
Management
Behind H.NCD are Hugo D'hoedt, Dieter D'hoedt, Ellen D'hoedt and Jocami BV. It owns 100% of Gardec-SWD, 100% of Gardec-VJ, 100% of Gardec-S.D.S, 100% of Gardec Equipment, 100% of Werkhuizen Decloedt and 75% of Brusselle Custom Machinery itself.
Directors
According to the 2026 annual accounts
Hugo D'hoedt
Director
Also active at: WERKHUIZEN DECLOEDT, GARDEC-S.D.S., GARDEC-V.J., GARDEC-S.W.D., ZEVICO, Gardec Equipment, BRUSSELLE CARRAL MARINE, H.NCD BEHEER
Establishments
Establishment units
Physical locations of this company
Boomkorstraat 8
8380 Brugge
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0859.582.821
- VAT number
- BE 0859.582.821
- Registered office
- Boomkorstraat 8, 8380 Brugge
- Names & denominations
- H.NCD
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 11 July 2003
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
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