ACTIVE

HSBCAD

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Financial year 2025 · closed on 31/12/2025

Net result

522,4 k €

-57.1% YoY

Revenue

4,8 M €

Equity

5,4 M €

-21.6% YoY

Workforce

18,2 ETP

+22.1% YoY

What does HSBCAD do?

HSBCAD is a Private limited company incorporated in 2001. Its main activity is: Computer consultancy activities. Its registered office is in Gent. It employs on average 18,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0475.468.363

Incorporation

13/08/2001

Legal form

Private limited company

Registered office

Amelia Earhartlaan 2 box 302
9051 Gent · FlandreSee on map

Contributed capital

2 912 620,00 €

Latest accounts

31/12/2025

Average workforce

18,2 ETP

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 71121Engineering activities and related technical consultancy 71121Engineering activities and related technical consultancy 72100Research and experimental development on natural sciences and engineering 62010Computer programming activities+2

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	4,8 M €		–		–		–		–		3 M €	-12.1%	3,4 M €	+17.9%	2,9 M €	+22.4%	2,4 M €	+0.6%	2,3 M €	+12.5%	2,1 M €	+58.0%	1,3 M €		–		–		–		–		–		–		–		–
EBITDA	1,9 M €	-27.4%	2,7 M €	-29.5%	3,8 M €	+1611%	-248,9 k €	-667%	43,9 k €	-84.0%	273,6 k €	+12.6%	243 k €	+6.5%	228,3 k €	+26.1%	181 k €	-18.0%	220,7 k €	-5.7%	234,1 k €	+39.0%	168,5 k €	+348%	37,6 k €	-22.4%	48,5 k €	-15.2%	57,2 k €	+41.7%	40,4 k €	+65.7%	24,4 k €	-10.9%	27,3 k €	-22.6%	35,3 k €	+181%	12,6 k €
Operating result	786,4 k €	-54.7%	1,7 M €	-43.9%	3,1 M €	+491%	-791,8 k €	-196%	-267,5 k €	-1375%	-18,1 k €	-115%	120,9 k €	-5.4%	127,8 k €	+33.1%	96 k €	-34.3%	146,1 k €	-14.2%	170,4 k €	+27.5%	133,6 k €	+1492%	8,4 k €	-56.3%	19,2 k €	-33.0%	28,7 k €	+236%	8,5 k €	+546%	1,3 k €	-93.7%	21 k €	-35.0%	32,3 k €	+262%	8,9 k €
Net result	522,4 k €	-57.1%	1,2 M €	-52.5%	2,6 M €	+383%	-906,1 k €	-144%	-370,9 k €	-2662%	-13,4 k €	-116%	81,8 k €	+42.8%	57,3 k €	+0.2%	57,2 k €	-24.2%	75,4 k €	-27.8%	104,4 k €	+49.1%	70 k €	+1755%	3,8 k €	-54.5%	8,3 k €	-45.4%	15,2 k €	+1137%	-1,5 k €	-237%	-434,3 €	-103%	17 k €	-7.7%	18,4 k €	+142%	7,6 k €
Balance sheet
Equity	5,4 M €	-21.6%	6,8 M €	+62.5%	4,2 M €	+156%	1,6 M €	-35.6%	2,5 M €	+178%	917,3 k €	-1.4%	930,7 k €	+9.6%	848,8 k €	+8.0%	786,1 k €	+4.1%	755,4 k €	+12.1%	673,8 k €	+18.3%	569,4 k €	+308%	139,4 k €	+2.8%	135,7 k €	+6.5%	127,4 k €	+13.5%	112,2 k €	-1.3%	113,7 k €	-0.4%	114,1 k €	+15.6%	98,7 k €	+22.9%	80,3 k €
Total assets	6,7 M €	-25.2%	9 M €	+14.3%	7,9 M €	+52.2%	5,2 M €	-11.0%	5,8 M €	+56.3%	3,7 M €	+55.8%	2,4 M €	+13.7%	2,1 M €	+16.5%	1,8 M €	-16.8%	2,2 M €	+39.2%	1,6 M €	+58.1%	985,1 k €	+401%	196,6 k €	-7.5%	212,5 k €	-13.1%	244,7 k €	+7.1%	228,5 k €	+0.7%	226,8 k €	+43.4%	158,2 k €	+46.5%	108 k €	+29.6%	83,3 k €
Cash	1,5 M €	-48.9%	2,9 M €	+21.7%	2,3 M €	+181%	835,7 k €	-45.7%	1,5 M €	+426%	292,8 k €	-19.2%	362,3 k €	-3.5%	375,3 k €	+32.2%	283,8 k €	-8.5%	310,2 k €	+216%	98,1 k €	-72.0%	350,3 k €	+131%	151,3 k €	+11.0%	136,3 k €	-10.6%	152,4 k €	+37.8%	110,6 k €	-2.2%	113,2 k €	+2.1%	110,9 k €	+45.0%	76,5 k €	+80.4%	42,4 k €
Debts	1,1 M €	-51.3%	2,2 M €	-37.6%	3,5 M €	+4.9%	3,3 M €	+7.9%	3,1 M €	+9.8%	2,8 M €	+92.1%	1,5 M €	+16.4%	1,3 M €	+23.1%	1 M €	-22.8%	1,3 M €	+68.9%	781,4 k €	+88.0%	415,6 k €	+627%	57,1 k €	-24.4%	75,6 k €	-35.0%	116,3 k €	+1.5%	114,5 k €	+4.0%	110,2 k €	+198%	36,9 k €	+357%	8,1 k €	+331%	1,9 k €
Other
Workforce	18,2 ETP	+22.1%	14,9 ETP	+22.1%	12,2 ETP	+8.0%	11,3 ETP	+16.5%	9,7 ETP	+10.2%	8,8 ETP	+63.0%	5,4 ETP	-3.6%	5,6 ETP	+36.6%	4,1 ETP	+7.9%	3,8 ETP	-56.8%	8,8 ETP	+8.6%	8,1 ETP		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 26 ended

Active mandates

Andreas BidCo

Director · 1016.654.327

Represented by Thomas Decroos

Active

Sailing Stones

Director · 0639.955.124

Represented by Hilde Sevens

Active

Ended mandates

Sailing Stones

Director · since 19 décembre 2024 · 0639.955.124

Represented by Hilde Sevens

Ended

SARUNI

Director · since 22 juin 2022 · until 19 décembre 2024 · 0781.612.043

Represented by Karel Vinckier

Ended

Alexander Vinckier

Director · since 21 juin 2022 · until 19 décembre 2024

Ended

ENEVISION

Director · since 21 juin 2022 · until 19 décembre 2024 · 0825.752.387

Represented by Christophe Jean-Marie Degrez

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/06/2026	14/07/2025	04/07/2024	05/07/2023	06/07/2022	28/05/2021
General meeting	16/06/2026	17/06/2025	11/06/2024	20/06/2023	21/06/2022	07/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	16/06/2026	22/06/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	14/07/2025	Dutch	PDF
Abridged model	31/12/2023	11/06/2024	04/07/2024	Dutch	PDF
Abridged model	31/12/2022	20/06/2023	05/07/2023	Dutch	PDF
Abridged model	31/12/2021	21/06/2022	06/07/2022	Dutch	PDF
Abridged model	31/12/2020	07/05/2021	28/05/2021	Dutch	PDF
Abridged model	31/12/2019	28/08/2020	24/09/2020	Dutch	PDF
Abridged model	31/12/2018	20/06/2019	17/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	25/07/2018	Dutch	PDF
Abridged model	31/12/2016	10/04/2017	12/04/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	29/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	29/07/2015	Dutch	PDF
Abridged model	31/12/2013	15/01/2014	14/02/2014	Dutch	PDF
Abridged model	31/12/2012	29/06/2013	25/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	30/07/2012	Dutch	PDF
Abridged model	31/12/2010	14/05/2011	09/06/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	14/07/2010	Dutch	PDF
Abridged model	31/12/2008	09/05/2009	13/05/2009	Dutch	PDF
Abridged model	31/12/2007	10/05/2008	20/05/2008	Dutch	PDF
Abridged model	31/12/2006	12/05/2007	25/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 26 ended

Active mandates

Andreas BidCo

Director · 1016.654.327

Represented by Thomas Decroos

Active

Sailing Stones

Director · 0639.955.124

Represented by Hilde Sevens

Active

Ended mandates

Sailing Stones

Director · since 19 décembre 2024 · 0639.955.124

Represented by Hilde Sevens

Ended

SARUNI

Director · since 22 juin 2022 · until 19 décembre 2024 · 0781.612.043

Represented by Karel Vinckier

Ended

Alexander Vinckier

Director · since 21 juin 2022 · until 19 décembre 2024

Ended

ENEVISION

Director · since 21 juin 2022 · until 19 décembre 2024 · 0825.752.387

Represented by Christophe Jean-Marie Degrez

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares07/05/2025
KAPITAAL - AANDELEN
PDF
Mandates17/02/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares27/01/2025
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Capital / shares31/12/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Registered office21/06/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - MAATSCHAPPELIJKE ZETEL - ALGEMENE VERGADERING
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025522,4 k €↓
2024
Annual accounts 20241,2 M €↓
2023
Annual accounts 20232,6 M €↑
2022
Annual accounts 2022-906,1 k €↓
2022
Name changeHSB CAD
2021
Annual accounts 2021-370,9 k €↓
2020
Annual accounts 2020-13,4 k €↓
2019
Annual accounts 201981,8 k €↑
2018
Annual accounts 201857,3 k €↑
2017
Annual accounts 201757,2 k €↓
2016
Annual accounts 201675,4 k €↓
2015
Annual accounts 2015104,4 k €↑
2014
Annual accounts 201470 k €↑
2014
Name changehsbcad
2013
Annual accounts 20133,8 k €↓
2012
Annual accounts 20128,3 k €↓
2011
Annual accounts 201115,2 k €↑
2010
Annual accounts 2010-1,5 k €↓
2009
Annual accounts 2009-434,3 €↓
2008
Annual accounts 200817 k €↓
2007
Annual accounts 200718,4 k €↑
2006
Annual accounts 20067,6 k €
2006
Name changeVINCKIER MANAGEMENT
13/08/2001
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

HSBCAD

Overview

What does HSBCAD do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline