ACTIVE

HB Distribution

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Financial year 2025 · closed on 31/12/2025

Net result

29,3 k €

+23.7% YoY

Gross margin

2 M €

+39.4% YoY

Equity

321,7 k €

+10.0% YoY

Workforce

41,0 ETP

+40.9% YoY

What does HB Distribution do?

HB Distribution is a Private limited company incorporated in 2005. Its main activity is: Other postal and courier activities. Its registered office is in Courcelles. It employs on average 41,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0871.904.888

Incorporation

15/02/2005

Legal form

Private limited company

Registered office

Rue de Hainaut(CO) 30
6180 Courcelles · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

41,0 ETP

Activities (NACE)

53200Other postal and courier activities· main 53200Other postal and courier activities 64120Monetary intermediation 49410Freight transport by road 49410Freight transport by road 52250Support activities for transportation+3

Joint committees (2)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	2 M €	+39.4%	1,4 M €	+57.2%	891,8 k €	-13.0%	1 M €	-6.5%	1,1 M €	-8.6%	1,2 M €	+3.6%	1,2 M €	-13.4%	1,3 M €	+1.5%	1,3 M €	+16.7%	1,1 M €	+5.3%	1,1 M €	+32.1%	810,6 k €	-19.0%	1 M €	+15.2%	869 k €	-4.7%	912,3 k €	+13.8%	801,6 k €	-19.2%	992,3 k €	+15.7%	857,7 k €	+20.8%	709,9 k €
EBITDA	205,7 k €	+78.1%	115,5 k €	+1010%	-12,7 k €	-107%	173,7 k €	-38.6%	283 k €	-16.3%	337,9 k €	+364%	72,9 k €	-59.5%	180,2 k €	-29.6%	255,8 k €	+158%	99,3 k €	-11.0%	111,6 k €	-40.6%	188 k €	-0.3%	188,4 k €	+17.4%	160,5 k €	+26.7%	126,7 k €	+26.6%	100,1 k €	-27.9%	138,9 k €	+174%	50,7 k €	-42.1%	87,5 k €
Operating result	90,1 k €	+328%	21,1 k €	+118%	-115,3 k €	-353%	45,6 k €	-75.9%	189,1 k €	-32.4%	279,5 k €	+1036%	24,6 k €	-84.0%	153,5 k €	-29.4%	217,4 k €	+242%	63,7 k €	-17.4%	77 k €	-45.9%	142,4 k €	+5.2%	135,3 k €	+56.4%	86,5 k €	+65.5%	52,3 k €	+37.9%	37,9 k €	-65.1%	108,5 k €	+415%	21,1 k €	-63.9%	58,5 k €
Net result	29,3 k €	+23.7%	23,7 k €	+127%	10,5 k €	-65.4%	30,2 k €	-63.7%	83,2 k €	-55.5%	187,2 k €	+664%	-33,2 k €	-137%	89,1 k €	-24.7%	118,4 k €	+4958%	-2,4 k €	-108%	30,9 k €	+1.0%	30,6 k €	-47.3%	58,1 k €	+71.6%	33,8 k €	+511%	5,5 k €	+126%	-21,4 k €	-190%	23,7 k €	+162%	-38,3 k €	-189%	43,1 k €
Balance sheet
Equity	321,7 k €	+10.0%	292,4 k €	+8.8%	268,7 k €	+4.0%	258,2 k €	0.0%	258,2 k €	-20.5%	325 k €	+56.4%	207,9 k €	-13.8%	241 k €	+25.6%	191,9 k €	+185%	67,3 k €	-3.5%	69,8 k €	+79.5%	38,9 k €	-64.1%	108,3 k €	+116%	50,2 k €	+206%	16,4 k €	+51.0%	10,9 k €	-66.4%	32,3 k €	-70.3%	108,6 k €	-26.1%	146,9 k €
Total assets	1,3 M €	+5.9%	1,2 M €	-11.0%	1,4 M €	-6.6%	1,5 M €	-11.1%	1,7 M €	-0.5%	1,7 M €	+68.6%	1 M €	-5.5%	1,1 M €	+10.3%	959,6 k €	+48.3%	647 k €	+9.1%	592,8 k €	-18.4%	726,4 k €	+14.2%	636 k €	-33.5%	955,9 k €	-3.0%	985,3 k €	+8.5%	908 k €	+44.4%	628,9 k €	-0.3%	630,9 k €	+49.6%	421,8 k €
Cash	347 k €	+22.3%	283,6 k €	-36.2%	444,5 k €	+64.0%	271 k €	-39.1%	444,9 k €	+29.6%	343,4 k €	+60.4%	214,1 k €	-33.9%	323,8 k €	+28.3%	252,4 k €	+181%	89,7 k €	+15.9%	77,4 k €	-40.3%	129,7 k €	+217%	40,9 k €	+22.3%	33,4 k €	-69.0%	107,8 k €	-25.9%	145,4 k €	+430%	27,4 k €	-66.1%	81 k €	+10.3%	73,4 k €
Debts	993,1 k €	+6.8%	929,7 k €	-16.9%	1,1 M €	-9.4%	1,2 M €	-13.1%	1,4 M €	+4.9%	1,4 M €	+70.7%	793 k €	-1.4%	804,2 k €	+6.6%	754,4 k €	+38.4%	544,9 k €	+6.2%	513,2 k €	-25.3%	686,8 k €	+31.0%	524,1 k €	-42.0%	903,3 k €	-6.7%	967,8 k €	+8.0%	895,7 k €	+53.2%	584,7 k €	+13.6%	514,8 k €	+96.2%	262,4 k €
Other
Workforce	41,0 ETP	+40.9%	29,1 ETP	+34.1%	21,7 ETP	-9.2%	23,9 ETP	-3.2%	24,7 ETP	-3.9%	25,7 ETP	-18.9%	31,7 ETP	-2.2%	32,4 ETP	+4.2%	31,1 ETP	-6.9%	33,4 ETP	+9.2%	30,6 ETP	+51.5%	20,2 ETP	-19.8%	25,2 ETP	+10.5%	22,8 ETP	-6.9%	24,5 ETP	+5.2%	23,3 ETP	-13.7%	27,0 ETP	-0.7%	27,2 ETP	+23.1%	22,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 3 ended

Active mandates

BVR Capital

Director · since 09 avril 2026 · 1034.033.658

Represented by Jan VAN REETH

Active

RJMSV

Director · since 23 mars 2017 · until 08 avril 2026 · 0673.476.839

Represented by Philippe DAMMAN

Active

Ended mandates

RJMSV

Manager · since 23 mars 2017 · 0673.476.839

Represented by PHILIPPE DAMMAN

Ended

RJMSV

Manager · since 23 mars 2017 · 0673.476.839

Represented by PHILIPPE DAMMAN

Ended

GREGORY DAYE

Manager · since 11 février 2005

Ended

At this address

Other companies at this address

Company	CBE no.
BVR Capital● Active	1034.033.658
FB LOGISTICS INTL.● Active	0405.741.496
HB LOGISTICS● Active	0769.898.106
NEW CUSTOMSERVICE● Active	0765.190.933

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged 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	31/07/2026	24/07/2025	13/08/2024	22/08/2023	01/06/2022	27/08/2021
General meeting	30/06/2026	05/05/2025	06/05/2024	02/05/2023	02/05/2022	03/05/2021
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
Abridged model	31/12/2025	30/06/2026	31/07/2026	French	PDF
Abridged model	31/12/2024	05/05/2025	24/07/2025	French	PDF
Abridged model	31/12/2023	06/05/2024	13/08/2024	French	PDF
Abridged model	31/12/2022	02/05/2023	22/08/2023	French	PDF
Abridged model	31/12/2021	02/05/2022	01/06/2022	French	PDF
Abridged model	31/12/2020	03/05/2021	27/08/2021	French	PDF
Abridged model	31/12/2019	04/05/2020	01/09/2020	French	PDF
Abridged model	31/12/2018	06/05/2019	21/08/2019	French	PDF
Abridged model	31/12/2017	07/05/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	02/05/2017	28/06/2017	French	PDF
Abridged model	31/12/2015	02/05/2016	16/06/2016	French	PDF
Abridged model	31/12/2014	04/05/2015	23/07/2015	French	PDF
Abridged model	31/12/2013	05/05/2014	05/08/2014	French	PDF
Abridged model	31/12/2012	06/05/2013	07/05/2013	French	PDF
Abridged model	31/12/2011	07/05/2012	06/07/2012	French	PDF
Abridged model	31/12/2010	02/05/2011	01/06/2011	French	PDF
Abridged model	31/12/2009	03/05/2010	05/08/2010	French	PDF
Abridged model	31/12/2008	04/05/2009	20/05/2009	French	PDF
Abridged model	31/12/2007	05/05/2008	27/06/2008	French	PDF
Abridged model	31/12/2006	07/05/2007	31/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 3 ended

Active mandates

BVR Capital

Director · since 09 avril 2026 · 1034.033.658

Represented by Jan VAN REETH

Active

RJMSV

Director · since 23 mars 2017 · until 08 avril 2026 · 0673.476.839

Represented by Philippe DAMMAN

Active

Ended mandates

RJMSV

Manager · since 23 mars 2017 · 0673.476.839

Represented by PHILIPPE DAMMAN

Ended

RJMSV

Manager · since 23 mars 2017 · 0673.476.839

Represented by PHILIPPE DAMMAN

Ended

GREGORY DAYE

Manager · since 11 février 2005

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/05/2026
DENOMINATION - SIEGE SOCIAL
PDF
Mandates06/05/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates13/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates28/10/2024
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates10/11/2017
DENOMINATION - OBJET - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates28/04/2017
DEMISSIONS, NOMINATIONS
PDF
Registered office21/05/2010
SIEGE SOCIAL
PDF
Registered office08/09/2009
SIEGE SOCIAL
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 202529,3 k €↑
2025
Name changeHB DISTRIBUTION
2024
Annual accounts 202423,7 k €↑
2023
Annual accounts 202310,5 k €↓
2022
Annual accounts 202230,2 k €↓
2021
Annual accounts 202183,2 k €↓
2020
Annual accounts 2020187,2 k €↑
2019
Annual accounts 2019-33,2 k €↓
2018
Annual accounts 201889,1 k €↓
2017
Annual accounts 2017118,4 k €↑
2017
Name changeECO DTLO
2016
Annual accounts 2016-2,4 k €↓
2015
Annual accounts 201530,9 k €↑
2014
Annual accounts 201430,6 k €↓
2013
Annual accounts 201358,1 k €↑
2012
Annual accounts 201233,8 k €↑
2011
Annual accounts 20115,5 k €↑
2010
Annual accounts 2010-21,4 k €↓
2009
Annual accounts 200923,7 k €↑
2008
Annual accounts 2008-38,3 k €↓
2007
Annual accounts 200743,1 k €
2007
Name changeGREDAY'S
15/02/2005
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

HB Distribution

Overview

What does HB Distribution do?

Trend over 19 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