ACTIVE

HBX PARTNERS

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Financial year 2025 · closed on 31/12/2025

Net result

3 k €

-83.9% YoY

Gross margin

5,6 k €

-78.1% YoY

Equity

33,2 k €

-85.6% YoY

What does HBX PARTNERS do?

HBX PARTNERS is a Private limited company incorporated in 2002. Its main activity is: Management consultancy activities. Its registered office is in Watermael-Boitsfort.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0477.529.218

Incorporation

16/05/2002

Legal form

Private limited company

Registered office

Boulevard du Souverain 90
1170 Watermael-Boitsfort · BruxellesSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 69202Accounting, bookkeeping and auditing activities; tax consultancy 69209Accounting, bookkeeping and auditing activities; tax consultancy 74121Specialised design activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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
Gross margin	5,6 k €	-78.1%	25,4 k €	-86.6%	189,7 k €	+20.3%	157,7 k €	+1286%	-13,3 k €	-122%	59,9 k €	-30.3%	86 k €	-39.9%	143 k €	+5537%	2,5 k €	-99.0%	243,2 k €	+575%	36 k €	-53.5%	77,4 k €	-13.9%	90 k €	+165%	33,9 k €	-13.8%	39,3 k €	-2.4%	40,3 k €	+20.1%	33,5 k €	-33.7%	50,6 k €	+284%	-27,5 k €	-330%	11,9 k €
EBITDA	4,8 k €	-81.2%	25,4 k €	-86.4%	187 k €	+19.6%	156,3 k €	+1182%	-14,4 k €	-125%	58,9 k €	-25.0%	78,5 k €	+187%	-90,2 k €	-15200%	597,5 €	-99.8%	239,5 k €	+707%	29,7 k €	-55.8%	67,2 k €	-22.4%	86,7 k €	+170%	32 k €	-12.0%	36,4 k €	+3.0%	35,4 k €	+10.9%	31,9 k €	+58.0%	20,2 k €	+162%	-32,8 k €	-447%	9,4 k €
Operating result	4,8 k €	-81.2%	25,4 k €	-86.3%	185,6 k €	+20.8%	153,7 k €	+982%	-17,4 k €	-143%	40,2 k €	-26.6%	54,8 k €	+145%	-122,3 k €	-6008%	-2 k €	-101%	237,3 k €	+2308%	9,9 k €	-80.6%	50,8 k €	-27.2%	69,8 k €	+361%	15,1 k €	-23.2%	19,7 k €	+3.6%	19,1 k €	+64.3%	11,6 k €	+638%	-2,2 k €	+95.9%	-52,9 k €	-1097%	-4,4 k €
Net result	3 k €	-83.9%	18,8 k €	-86.9%	143,3 k €	+24.0%	115,6 k €	+729%	-18,4 k €	-147%	39,2 k €	-2.8%	40,3 k €	+129%	-139,4 k €	-1581%	9,4 k €	-94.0%	156 k €	+924%	15,2 k €	-60.5%	38,5 k €	+14.0%	33,8 k €	+31.9%	25,6 k €	+2.0%	25,1 k €	+2.7%	24,5 k €	+522%	-5,8 k €	-919%	-569,1 €	-101%	66,1 k €	+371%	-24,4 k €
Balance sheet
Equity	33,2 k €	-85.6%	231 k €	-0.1%	231,2 k €	-2.8%	237,9 k €	+94.5%	122,3 k €	-13.1%	140,7 k €	+38.6%	101,5 k €	+65.9%	61,2 k €	-69.5%	200,6 k €	+4.9%	191,2 k €	-35.2%	295,2 k €	+5.4%	279,9 k €	+16.0%	241,4 k €	+16.3%	207,6 k €	+14.1%	181,9 k €	+982%	16,8 k €	+320%	-7,6 k €	+0.0%	-7,6 k €	-8.0%	-7,1 k €	+90.3%	-73,2 k €
Total assets	40,3 k €	-82.6%	232,3 k €	-5.4%	245,5 k €	-3.4%	254,1 k €	+67.1%	152,1 k €	-36.1%	238,2 k €	+1.6%	234,5 k €	-7.0%	252,2 k €	-20.4%	316,6 k €	-30.6%	456,3 k €	-44.4%	820,2 k €	+4.5%	784,5 k €	+9.6%	715,7 k €	+9.8%	651,7 k €	+4.5%	623,8 k €	+38.0%	452 k €	+3.7%	435,7 k €	-4.7%	457 k €	-5.1%	481,6 k €	-5.3%	508,7 k €
Cash	13,7 k €	-72.6%	50 k €	-22.5%	64,6 k €	-49.3%	127,4 k €	+521%	20,5 k €	-76.5%	87,2 k €	-14.2%	101,6 k €	-10.8%	113,8 k €	+17.7%	96,7 k €	-27.2%	132,9 k €		–		–		2,3 k €		–		–		2,3 k €		–		–		–		–
Debts	7,1 k €	+460%	1,3 k €	-91.1%	14,3 k €	-12.1%	16,2 k €	-45.4%	29,8 k €	-69.4%	97,5 k €	-26.7%	133 k €	+35.8%	97,9 k €	+325%	23 k €	-86.6%	172,1 k €	-65.5%	499 k €	+4.3%	478,6 k €	+6.7%	448,3 k €	+7.2%	418,2 k €	+0.5%	415,9 k €	+1.6%	409,2 k €	-2.0%	417,4 k €	-4.6%	437,3 k €	-10.4%	487,8 k €	-16.0%	581 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

Clarity Consulting SARL

Director · since 19 avril 2024

Represented by Michael Augier

Active

Ended mandates

Olivier NARDI

Director · since 18 octobre 2023 · until 19 avril 2024

Ended

Olivier NARDI

Director · since 18 octobre 2023

Ended

Bernard HERINCKX

Director · since 14 mai 2002

Ended

Bernard HERINCKX

Manager · since 14 mai 2002

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Micro model	Micro model	Micro model	Micro model	Micro 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	10/06/2026	24/06/2025	18/06/2024	25/05/2023	09/05/2022	27/07/2021
General meeting	17/04/2026	18/04/2025	19/04/2024	21/04/2023	15/04/2022	16/04/2021
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
Abridged model	31/12/2025	17/04/2026	10/06/2026	French	PDF
Micro model	31/12/2024	18/04/2025	24/06/2025	French	PDF
Micro model	31/12/2023	19/04/2024	18/06/2024	French	PDF
Micro model	31/12/2022	21/04/2023	25/05/2023	French	PDF
Micro model	31/12/2021	15/04/2022	09/05/2022	French	PDF
Micro model	31/12/2020	16/04/2021	27/07/2021	French	PDF
Micro model	31/12/2019	17/04/2020	03/09/2020	French	PDF
Micro model	31/12/2018	19/04/2019	23/10/2019	French	PDF
Micro model	31/12/2017	20/04/2018	30/05/2018	French	PDF
Micro model	31/12/2016	24/08/2017	17/09/2017	French	PDF
Abridged model	31/12/2015	17/04/2016	17/11/2016	French	PDF
Abridged model	31/12/2014	17/04/2015	30/12/2015	French	PDF
Abridged model	31/12/2013	18/04/2014	19/03/2015	French	PDF
Abridged model	31/12/2012	20/04/2013	21/11/2013	French	PDF
Abridged model	31/12/2011	20/04/2012	29/10/2012	French	PDF
Abridged model	31/12/2010	18/04/2011	06/07/2011	French	PDF
Abridged model	31/12/2009	16/04/2010	25/11/2010	French	PDF
Abridged model	31/12/2008	17/04/2009	27/08/2009	French	PDF
Abridged model	31/12/2007	18/04/2008	29/09/2008	French	PDF
Abridged model	31/12/2006	20/04/2007	20/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 1 active · 4 ended

Active mandates

Clarity Consulting SARL

Director · since 19 avril 2024

Represented by Michael Augier

Active

Ended mandates

Olivier NARDI

Director · since 18 octobre 2023 · until 19 avril 2024

Ended

Olivier NARDI

Director · since 18 octobre 2023

Ended

Bernard HERINCKX

Director · since 14 mai 2002

Ended

Bernard HERINCKX

Manager · since 14 mai 2002

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office08/07/2026
SIEGE SOCIAL
PDF
Mandates23/03/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates15/07/2025
DEMISSIONS, NOMINATIONS
PDF
Other13/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates16/11/2023
DEMISSIONS, NOMINATIONS
PDF
Registered office13/11/2023
SIEGE SOCIAL
PDF
Registered office03/06/2022
SIEGE SOCIAL
PDF
Restructuring03/04/2019
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
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 20253 k €↓
2024
Annual accounts 202418,8 k €↓
2023
Annual accounts 2023143,3 k €↑
2022
Annual accounts 2022115,6 k €↑
2021
Annual accounts 2021-18,4 k €↓
2020
Annual accounts 202039,2 k €↓
2019
Annual accounts 201940,3 k €↑
2018
Annual accounts 2018-139,4 k €↓
2017
Annual accounts 20179,4 k €↓
2017
Name changeHBX PARTNERS
2016
Annual accounts 2016156 k €↑
2015
Annual accounts 201515,2 k €↓
2014
Annual accounts 201438,5 k €↑
2013
Annual accounts 201333,8 k €↑
2012
Annual accounts 201225,6 k €↑
2011
Annual accounts 201125,1 k €↑
2010
Annual accounts 201024,5 k €↑
2009
Annual accounts 2009-5,8 k €↓
2008
Annual accounts 2008-569,1 €↓
2007
Annual accounts 200766,1 k €↑
2006
Annual accounts 2006-24,4 k €
2006
Name changeINTERNATIONAL FINANCIAL CONSOLIDATION SPECIALISTS
16/05/2002
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

HBX PARTNERS

Overview

What does HBX PARTNERS 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