Financials
- Fiscal year
- 2025
- Total assets
- €152,407
- Loss
- -€15,504
- Solvency
- 2.9%
BELHORS
ActiveSummary
The computed 12-month bankruptcy probability of BELHORS is 3.7% (moderate). The 2025 annual accounts show equity of €4,496 and a net result of -€15,504. Its solvency ranks better than 10% of 2059 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Manufacture of metal structures and parts of structures
NACE 25110
1 site
Size
€152,407total assets 2025
- Equity
- €4,496
- Loss
- -€15,504
Turnover not published (abridged schema)
Structure
Accounts filed 31 d late0 of 1 deed read
Why 47- Founded in 2024- Sector Manufacture of fabricated metal products, except machinery and equipment (NACE 25)- Latest accounts 31 days late; 1 of the last 3 late- Liquidity: current ratio 0.44, cash €3,888Show the evidence
Checked score
Score 2025
47
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 13% of its sector peers (NACE 25, micro)
Performance against the sector, not lower risk
Financial strength
Weak
Solvency
28
equity 2.9% of total assets
Liquidity
3
short-term debt 97.1% · cash 2.6%
Profitability
56
return on assets -10.2%
Bankruptcy probability, 12 months
3.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 21 months
04-2025: 1.8%lowest value
05-2025: 1.8%● 0.0% vs 04-2025lowest value
06-2025: 1.9%▲ +4.8% vs 05-2025
07-2025: 2.3%▲ +16.7% vs 06-2025
08-2025: 2.4%▲ +5.7% vs 07-2025
09-2025: 2.7%▲ +11.5% vs 08-2025
10-2025: 2.7%● 0.0% vs 09-2025
11-2025: 2.9%▲ +10.3% vs 10-2025
12-2025: 2.9%▼ -1.3% vs 11-2025
01-2026: 2.9%▼ -1.1% vs 12-2025
02-2026: 3.1%▲ +8.6% vs 01-2026
03-2026: 3.2%▲ +4.2% vs 02-2026
04-2026: 3.3%▲ +1.1% vs 03-2026
05-2026: 3.3%● 0.0% vs 04-2026
06-2026: 3.3%● 0.0% vs 05-2026
07-2026: 3.3%● 0.0% vs 06-2026
08-2026: 3.3%● 0.0% vs 07-2026
09-2026: 3.7%▲ +13.4% vs 08-2026
10-2026: 3.7%▲ +0.3% vs 09-2026highest value
- Founded in 2024 raises the probability for this profile
- Sector Manufacture of fabricated metal products, except machinery and equipment (NACE 25) raises the probability
- Latest accounts 31 days late; 1 of the last 3 late raises the probability
- Liquidity: current ratio 0.44, cash €3,888 raises the probability
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 25, micro). Better than this share of them on solvency 9%, liquidity 3%, profitability 26%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 2059 sector peers (2025).
NBB · sector comparisonPosition among 2059 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 1 filingDeviation from the deadline
2025
31 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
- Annual accounts filedfiscal year 2025 · micro…
Key points
By topic
Timeline
- Events
- 1
- Since
- 2026
- 31-08-2026Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Manufacture of metal structures and parts of structuresNACE 25110
- Founded
- 21-03-2024
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark Roughly what is this company worth?Value indication
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.