BLACK HORSE DEVELOPMENT
BankruptcySummary
The KBO register records for BLACK HORSE DEVELOPMENT the legal situation: open bankruptcy; this is today's state according to the register itself, which carries no start date. The 2021 annual accounts show equity of €206k and a net result of €925k.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
UBO non-complianceAddress struck
Financials · fiscal year 2021, micro schema
Equity
€206k
2020 · €-718k
2018: €-215k
2019: €-315k▼ -46.9% vs 2018
2020: €-718k▼ -128% vs 2019lowest in 4 years
2021: €206k▲ +129% vs 2020highest in 4 years
2018 → 2021
Total assets
€217k▼ 58.7%
2020 · €527k
2018: €1.16Mhighest in 4 years
2019: €876k▼ -24.8% vs 2018
2020: €527k▼ -39.9% vs 2019
2021: €217k▼ -58.7% vs 2020lowest in 4 years
2018 → 2021
Net result
€925k
2020 · €-403k
2018: €-92k
2019: €-101k▼ -9.6% vs 2018
2020: €-403k▼ -301% vs 2019lowest in 4 years
2021: €925k▲ +329% vs 2020highest in 4 years
2018 → 2021
Working capital
€203k
2020 · €-720k
2018: €-261k
2019: €-319k▼ -22.1% vs 2018
2020: €-720k▼ -126% vs 2019lowest in 4 years
2021: €203k▲ +128% vs 2020highest in 4 years
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€-215k-€-315k▼ 46.9%€-718k▼ 128%€206k
2018: €-215k
2019: €-315k▼ -46.9% vs 2018
2020: €-718k▼ -128% vs 2019lowest in 4 years
2021: €206k▲ +129% vs 2020highest in 4 years
Operating result€-86k-€-88k▼ 2.0%€-377k▼ 330%€925k
2018: €-86k
2019: €-88k▼ -2.0% vs 2018
2020: €-377k▼ -330% vs 2019lowest in 4 years
2021: €925k▲ +345% vs 2020highest in 4 years
Net result€-92k-€-101k▼ 9.6%€-403k▼ 301%€925k
2018: €-92k
2019: €-101k▼ -9.6% vs 2018
2020: €-403k▼ -301% vs 2019lowest in 4 years
2021: €925k▲ +329% vs 2020highest in 4 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2021: €925k after a loss of €377k in 2020, the highest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €217k
Fixed assets
€3k ▲ 108%
Current assets
€214k ▼ 59.2%
Equity and liabilities €217k
Equity
€206k
Debt
€11k
Debt finances 5.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€925k
Cash flow
€925k
Current ratio
19.22▲
2020 · 0.42
Debt to equity
0.05
ROE
448.6%
ROA
425.6%▲
2020 · -76.6%
Interest coverage
7913.30
Debt ≤ 1 year
€11k▼
2020 · €1.25M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 37 lines
Balance sheet
Code20202021
Assets
Total assets20/58€527k€217k▼
Fixed assets21/28€2k€3k▲
Tangible fixed assets22/27-€3k
Furniture and vehicles24-€2k
Assets under construction and advance payments27-€2k
Financial fixed assets28€2k-
Current assets29/58€525k€214k▼
Amounts receivable within one year40/41€450k€130k▼
Trade receivables40-€107k
Other amounts receivable41-€24k
Cash at bank and in hand54/58€75k€84k▲
Equity and liabilities
Total equity and liabilities10/49€527k€217k▼
Equity10/15€-718k€206k▲
Contributions10/11€1.45M€1.45M=
Capital10-€1.45M
Issued capital100-€1.45M
Reserves13€74€74=
Non-distributable reserves130/1-€74
Legal reserve130-€74
Profit (loss) carried forward14€-2.17M€-1.24M▲
Amounts payable17/49€1.25M€11k▼
Amounts payable within one year42/48€1.25M€11k▼
Trade debts44-€11k
Suppliers440/4-€11k
Income statement
Code20202021
Non-recurring operating income76A-€998k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€228
Gross operating margin9900€-374k€925k▲
Operating profit (loss)9901€-377k€925k▲
Financial income75/76B-€60
Recurring financial income75€43€60▲
Financial charges65/66B-€117
Recurring financial charges65€26k€117▼
Profit (loss) for the period before taxes9903€-403k€925k▲
Profit (loss) for the period9904€-403k€925k▲
Profit (loss) for the period to be appropriated9905€-403k€925k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-1.24M
Profit (loss) brought forward from the previous period14P-€-2.17M
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €998k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €228 | - |
| Gross operating margin9900 | €-84k | €-56k | €-374k | €925k | ▲ 348% |
| Operating profit (loss)9901 | €-86k | €-88k | €-377k | €925k | ▲ 345% |
| Financial income75/76B | - | - | - | €60 | - |
| Recurring financial income75 | €37 | €629 | €43 | €60 | ▲ 38.2% |
| Financial charges65/66B | - | - | - | €117 | - |
| Recurring financial charges65 | - | €14k | €26k | €117 | ▼ 99.6% |
| Profit (loss) for the period before taxes9903 | €-92k | €-101k | €-403k | €925k | ▲ 329% |
| Profit (loss) for the period9904 | €-92k | €-101k | €-403k | €925k | ▲ 329% |
| Profit (loss) for the period to be appropriated9905 | €-92k | €-101k | €-403k | €925k | ▲ 329% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.16M | €876k | €527k | €217k | ▼ 58.7% |
| Fixed assets21/28 | €47k | €4k | €2k | €3k | ▲ 108% |
| Tangible fixed assets22/27 | - | - | - | €3k | - |
| Furniture and vehicles24 | - | - | - | €2k | - |
| Assets under construction and advance payments27 | - | - | - | €2k | - |
| Financial fixed assets28 | €47k | €4k | €2k | - | - |
| Current assets29/58 | €1.12M | €873k | €525k | €214k | ▼ 59.2% |
| Stocks and contracts in progress3 | €350k | €350k | - | - | - |
| Amounts receivable within one year40/41 | €482k | €446k | €450k | €130k | ▼ 71.1% |
| Trade receivables40 | - | - | - | €107k | - |
| Other amounts receivable41 | - | - | - | €24k | - |
| Cash at bank and in hand54/58 | €286k | €76k | €75k | €84k | ▲ 11.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.16M | €876k | €527k | €217k | ▼ 58.7% |
| Equity10/15 | €-215k | €-315k | €-718k | €206k | ▲ 129% |
| Contributions10/11 | €1.45M | €1.45M | €1.45M | €1.45M | = |
| Capital10 | - | - | - | €1.45M | - |
| Issued capital100 | - | - | - | €1.45M | - |
| Reserves13 | €74 | €74 | €74 | €74 | = |
| Non-distributable reserves130/1 | - | - | - | €74 | - |
| Legal reserve130 | - | - | - | €74 | - |
| Profit (loss) carried forward14 | €-1.66M | €-1.77M | €-2.17M | €-1.24M | ▲ 42.6% |
| Amounts payable17/49 | €1.38M | €1.19M | €1.25M | €11k | ▼ 99.1% |
| Amounts payable within one year42/48 | €1.38M | €1.19M | €1.25M | €11k | ▼ 99.1% |
| Trade debts44 | €57k | €24k | - | €11k | - |
| Suppliers440/4 | - | - | - | €11k | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-92k | €-101k | €-403k | €925k | ▲ 329% |
| + Depreciation and write-downs630 | - | - | - | €228 | - |
| Operating cash flow (approximation) | €-92k | €-101k | €-403k | €925k | ▲ 329% |
| Investment in fixed assets (approximation) | - | €43k | €2k | €-2k | ▼ 195% |
| Change in cash | - | €-210k | €-676 | €9k | ▲ 1,395% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
06-10
KBO administration
Address struck
Louizalaan 54 1050 Die Sitzadresse Avenue Louise / Louizalaan
Ixelles · event 21-09-2025
11-04
KBO administration
UBO non-compliance
event 31-03-2025
2022
18-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 102 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
05-07
Financial
Back to profitnet €925k
Net result €925k after 3 loss-making years.
05-07
Financial
Liquidity times 46current ratio 19.22
Current ratio from 0.42 to 19.22; short-term debt falls from €1.25M to €11k.
05-07
Financial
Equity above €200kEq €206k
Equity rises from €-718k to €206k.
2020
31-12
Financial
Weakest financial yearnet €-403k
Net result drops to €-403k, the lowest in the series.
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 88 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Show earlier events
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
2015
24-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 24 days late
2014
26-09
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 57 days late
2013
30-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
16 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2004
Ground area
2,791 m²
Building footprint
2,158 m²
Volume, LiDAR
54,967 m³
2 parcels, Brussels · tallest building 34.7 m, ±9 floors. Linked by address, not a title deed.
376
companies at this address
See who is registered here
1 establishment unit
ELBÉ
since 20042.137.882.374
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0001/00L000 | Brussels | 1,625 m² | 1 · 1,286 m² | 33.9 m · 9 fl. |
| 21807G0121/00V006 | Brussels | 1,166 m² | 1 · 872 m² | 34.7 m · 8 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPublic limited company
Founded16-07-1996
Fiscal year end05-07
Abbreviation FR
BHD
Scores and ratios are computed by Checked and are not a credit decision.