ACTIVE

HD Systems

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Financial year 2025 · closed on 31/12/2025

Net result

45,2 k €

-98.4% YoY

Revenue

36,1 M €

-7.3% YoY

Equity

3,8 M €

+1.2% YoY

Workforce

79,6 ETP

+10.1% YoY

What does HD Systems do?

HD Systems is a Private limited company incorporated in 2008. Its main activity is: Construction of buildings. Its registered office is in Verviers. It employs on average 79,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0895.144.902

Incorporation

23/01/2008

Legal form

Private limited company

Registered office

Avenue des Biolleux 21
4800 Verviers · WallonieSee on map

Contributed capital

19 000,00 €

Latest accounts

31/12/2025

Average workforce

79,6 ETP

Activities (NACE)

41001Construction of buildings· main 41201Construction of residential and non-residential buildings 43990Other specialised construction activities n.e.c.43999Other specialised construction activities n.e.c.

Joint committees (3)

Contacts

1 public detail availableLog in to view

Signals

ProfitableHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	36,1 M €	-7.3%	38,9 M €	+20.7%	32,2 M €	+47.2%	21,9 M €	+21.4%	18 M €	+32.3%	13,6 M €	-22.1%	17,5 M €	+12.4%	15,6 M €	+35.0%	11,5 M €	-20.4%	14,5 M €	+5.2%	13,8 M €	+29.7%	10,6 M €	+6.9%	9,9 M €		–		–		–		–		–
EBITDA	-571 k €	-112%	4,7 M €	+101%	2,3 M €	+122%	1,1 M €	+170%	391,5 k €	-48.2%	755,8 k €	-9.8%	837,9 k €	+6009%	-14,2 k €	-103%	453,4 k €	-28.7%	636 k €	-6.5%	680,4 k €	-15.3%	803,7 k €	-21.7%	1 M €	-18.0%	1,3 M €	+108%	601,6 k €	-8.0%	653,9 k €	+10.8%	590,1 k €	+145%	241,2 k €
Operating result	284,9 k €	-92.6%	3,8 M €	+134%	1,6 M €	+68.0%	975,2 k €	+470%	171,2 k €	-71.4%	598,4 k €	+4.5%	572,6 k €	+768%	-85,7 k €	-416%	27,1 k €	-94.4%	485,7 k €	-11.7%	550,3 k €	-17.7%	668,6 k €	-28.6%	936,4 k €	-18.8%	1,2 M €	+123%	518,1 k €	-12.4%	591,1 k €	+11.5%	530,1 k €	+132%	228,2 k €
Net result	45,2 k €	-98.4%	2,8 M €	+136%	1,2 M €	+78.5%	657,6 k €	+1350%	45,4 k €	-88.6%	398,9 k €	+12.8%	353,6 k €	+686%	-60,3 k €	-1697%	3,8 k €	-98.8%	327,3 k €	-14.1%	381 k €	-17.1%	459,3 k €	-24.9%	611,4 k €	-16.6%	732,9 k €	+120%	333,5 k €	-11.7%	377,8 k €	+53.0%	247 k €	+192%	84,7 k €
Balance sheet
Equity	3,8 M €	+1.2%	3,8 M €	+34.0%	2,8 M €	+2.6%	2,8 M €	+0.2%	2,8 M €	+2.0%	2,7 M €	+6.2%	2,6 M €	+15.9%	2,2 M €	-3.0%	2,3 M €	-5.4%	2,4 M €	+5.0%	2,3 M €	+8.8%	2,1 M €	+14.9%	1,8 M €	+14.3%	1,6 M €	+84.2%	868,9 k €	+19.3%	728,5 k €	+108%	350,7 k €	+238%	103,7 k €
Total assets	16,8 M €	-9.7%	18,6 M €	+4.4%	17,8 M €	+37.5%	13 M €	+6.6%	12,2 M €	+20.1%	10,1 M €	+8.3%	9,4 M €	-2.1%	9,6 M €	+14.3%	8,4 M €	+35.7%	6,2 M €	-7.6%	6,7 M €	+42.3%	4,7 M €	-2.4%	4,8 M €	+25.3%	3,8 M €	+69.8%	2,3 M €	+15.9%	2 M €	+53.2%	1,3 M €	+231%	384,6 k €
Cash	1,5 M €	+8.7%	1,3 M €	-12.9%	1,5 M €	+111%	726,4 k €	+32.1%	550 k €	-35.5%	852,2 k €	+41.2%	603,5 k €	+19.7%	504,1 k €	-8.2%	549,2 k €	-18.7%	675,3 k €	+34.3%	502,8 k €	+9.4%	459,6 k €	-45.7%	846,7 k €	+43.2%	591,3 k €	+22.3%	483,5 k €	-34.2%	734,5 k €	+6.3%	690,7 k €	+446%	126,5 k €
Debts	12,9 M €	-4.6%	13,5 M €	-6.8%	14,5 M €	+42.2%	10,2 M €	+8.8%	9,4 M €	+26.8%	7,4 M €	+8.8%	6,8 M €	-7.6%	7,4 M €	+20.8%	6,1 M €	+62.0%	3,8 M €	-14.4%	4,4 M €	+74.2%	2,5 M €	-14.0%	2,9 M €	+34.3%	2,2 M €	+61.8%	1,3 M €	+11.5%	1,2 M €	+33.3%	908,1 k €	+225%	279,3 k €
Other
Workforce	79,6 ETP	+10.1%	72,3 ETP	+14.6%	63,1 ETP	+13.7%	55,5 ETP	+17.1%	47,4 ETP	+7.2%	44,2 ETP	+10.0%	40,2 ETP	0.0%	40,2 ETP	+16.9%	34,4 ETP	+2.7%	33,5 ETP	+5.3%	31,8 ETP	+34.2%	23,7 ETP	+19.7%	19,8 ETP	+27.7%	15,5 ETP	+40.9%	11,0 ETP	+80.3%	6,1 ETP	+64.9%	3,7 ETP	+1133%	0,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 9 ended

Active mandates

HDP Art

Director · since 01 janvier 2025 · 1026.245.350

Represented by Benoît PLAITIN

Active

Ended mandates

HD GROUP

Director · 0684.558.494

Represented by Benoît PLAITIN

Ended

HD GROUP

Manager · 0684.558.494

Represented by Benoït PLAITIN

Ended

HD GROUP IMMO

Manager · 0837.014.780

Represented by Philippe HOGGE

Ended

HD GROUP IMMO

Manager · 0837.014.780

Represented by Philippe HOGGE

Ended

At this address

Other companies at this address

Company	CBE no.
HD GROUP● Active	0684.558.494
HD GROUP● Active	0838.978.635
HDP Art● Active	1026.245.350
HD SYSTEMS -V.Piront / Atelier de Salzinnes● Active	1001.143.532
PHD IMMO● Active	1001.392.960

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	16/07/2026	16/07/2025	19/06/2024	01/09/2023	26/07/2022	30/07/2021
General meeting	25/06/2026	28/06/2025	08/06/2024	10/06/2023	11/06/2022	12/06/2021
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	25/06/2026	16/07/2026	French	PDF
Full model	31/12/2024	28/06/2025	16/07/2025	French	PDF
Full model	31/12/2023	08/06/2024	19/06/2024	French	PDF
Full model	31/12/2022	10/06/2023	01/09/2023	French	PDF
Full model	31/12/2021	11/06/2022	26/07/2022	French	PDF
Full model	31/12/2020	12/06/2021	30/07/2021	French	PDF
Full model	31/12/2019	13/06/2020	24/07/2020	French	PDF
Full model	31/12/2018	08/06/2019	31/07/2019	French	PDF
Full model	31/12/2017	09/06/2018	30/07/2018	French	PDF
Full model	31/12/2016	10/06/2017	31/07/2017	French	PDF
Full model	31/12/2015	11/06/2016	29/07/2016	French	PDF
Full model	31/12/2014	13/06/2015	10/08/2015	French	PDF
Full model	31/12/2013	14/06/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	08/06/2013	31/07/2013	French	PDF
Abridged model	31/12/2011	09/06/2012	27/07/2012	French	PDF
Abridged model	31/12/2010	11/06/2011	08/07/2011	French	PDF
Abridged modelCorrection	31/12/2009	12/06/2010	06/08/2010	French	PDF
Abridged model	31/12/2009	12/06/2010	27/07/2010	French	PDF
Abridged modelCorrection	31/12/2008	13/06/2009	06/08/2010	French	PDF
Abridged model	31/12/2008	13/06/2009	06/07/2009	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 1 active · 9 ended

Active mandates

HDP Art

Director · since 01 janvier 2025 · 1026.245.350

Represented by Benoît PLAITIN

Active

Ended mandates

HD GROUP

Director · 0684.558.494

Represented by Benoît PLAITIN

Ended

HD GROUP

Manager · 0684.558.494

Represented by Benoït PLAITIN

Ended

HD GROUP IMMO

Manager · 0837.014.780

Represented by Philippe HOGGE

Ended

HD GROUP IMMO

Manager · 0837.014.780

Represented by Philippe HOGGE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/08/2026
ADRESSE AUTRE QUE SIEGE, DEMISSIONS, NOMINATIONS
PDF
Mandates27/11/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates14/02/2024
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Mandates23/01/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates02/07/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates14/08/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates22/05/2014
DEMISSIONS, NOMINATIONS
PDF
Registered office04/06/2013
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 202545,2 k €↓
2024
Annual accounts 20242,8 M €↑
2023
Annual accounts 20231,2 M €↑
2022
Annual accounts 2022657,6 k €↑
2021
Annual accounts 202145,4 k €↓
2020
Annual accounts 2020398,9 k €↑
2019
Annual accounts 2019353,6 k €↑
2018
Annual accounts 2018-60,3 k €↓
2017
Annual accounts 20173,8 k €↓
2016
Annual accounts 2016327,3 k €↓
2015
Annual accounts 2015381 k €↓
2014
Annual accounts 2014459,3 k €↓
2013
Annual accounts 2013611,4 k €↓
2012
Annual accounts 2012732,9 k €↑
2011
Annual accounts 2011333,5 k €↓
2010
Annual accounts 2010377,8 k €↑
2009
Annual accounts 2009247 k €↑
2008
Annual accounts 200884,7 k €
23/01/2008
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

HD Systems

Overview

What does HD Systems do?

Trend over 18 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