db-HORSES
Activedb-HORSES has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €622k and a net result of €6k. Equity is growing by ~32.1% per year across the filed fiscal years. Its solvency ranks better than 90% of 3121 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+69
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 5.91 against 19.27 in 2024; short-term debt: 11.6% and cash: 2.3% of total assets), and 15.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Sector 01
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
84.7%
Return on assets
0.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-04-2026, 101 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
101 d early
2024
84 d early
2023
33 d early
2022
31 d early
2021
37 d early
2020
22 d early
2019
4 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€622k▼ 9.7%
2024 · €689k
2018: €133k
2019: €122k
2020: €145k
2021: €215k
2022: €258k
2023: €797k
2024: €689k
2018 → 2025
Total assets
€734k▼ 3.1%
2024 · €758k
2018: €184k
2019: €211k
2020: €258k
2021: €419k
2022: €385k
2023: €897k
2024: €758k
2018 → 2025
Net result
€6k
2024 · €-108k
2018: €777
2019: €-10k
2020: €23k
2021: €71k
2022: €45k
2023: €540k
2024: €-108k
2018 → 2025
Working capital
€418k▼ 11.8%
2024 · €474k
2018: €93k
2019: €95k
2020: €101k
2021: €111k
2022: €140k
2023: €650k
2024: €474k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€215k-€258k▲ 20.2%€797k▲ 208%€689k▼ 13.6%€622k▼ 9.7%
Operating result€93k-€68k▼ 26.4%€795k▲ 1,062%€-115k€2k
Net result€71k-€45k▼ 36.6%€540k▲ 1,098%€-108k€6k
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 2025: €2k after a loss of €115k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €734k
Fixed assets
€231k▼ 10.5%
Current assets
€504k▲ 0.7%
Equity and liabilities €734k
Equity
€622k▼ 9.7%
Debt
€112k▲ 62.8%
The debt ratio rises from 9.1% to 15.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€56k▲
2024 · €-64k
Cash flow
€60k▲
2024 · €-57k
Solvency
84.7%▼
2024 · 90.9%
Current ratio
5.91▼
2024 · 19.27
Quick ratio
3.21▼
2024 · 12.16
Debt / equity
0.18▲
2024 · 0.10
ROE
0.9%▲
2024 · -15.7%
ROA
0.8%▲
2024 · -14.3%
Interest coverage
14.19▲
2024 · -76.36
Debt
€112k▲
2024 · €69k
Debt ≤ 1 year
€85k▲
2024 · €26k
Debt > 1 year
€27k▼
2024 · €43k
Income taxes
€651▲
2024 · €89
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€758k€734k▼
Fixed assets21/28€258k€231k▼
Tangible fixed assets22/27€258k€231k▼
Land and buildings22€134k€115k▼
Plant, machinery and equipment23€26k€22k▼
Furniture and vehicles24€14k€32k▲
Leasing and similar rights25€84k€62k▼
Current assets29/58€500k€504k▲
Stocks and contracts in progress3€185k€230k▲
Stocks30/36€185k€230k▲
Amounts receivable within one year40/41€9k€100k▲
Trade receivables40€2k€100k▲
Other amounts receivable41€6k€0▼
Current investments50/53€300k€153k▼
Cash at bank and in hand54/58€4k€17k▲
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€758k€734k▼
Equity10/15€689k€622k▼
Contributions10/11€19k€19k=
Reserves13€670k€604k▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€670k€604k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€69k€112k▲
Amounts payable after more than one year17€43k€27k▼
Financial debts170/4€43k€27k▼
Amounts payable within one year42/48€26k€85k▲
Current portion of amounts payable after more than one year42€16k€16k▲
Trade debts44€2k€60k▲
Suppliers440/4€2k€60k▲
Taxes, remuneration and social security45€0€5k▲
Taxes450/3€0€5k▲
Other amounts payable47/48€8k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€51k€54k▲
Other operating charges640/8€2k€3k▲
Gross operating margin9900€-61k€59k▲
Operating profit (loss)9901€-115k€2k▲
Financial income75/76B€7k€8k▲
Recurring financial income75€7k€8k▲
Financial charges65/66B€835€4k▲
Recurring financial charges65€835€4k▲
Profit (loss) for the period before taxes9903€-108k€7k▲
Income taxes67/77€89€651▲
Profit (loss) for the period9904€-108k€6k▲
Profit (loss) for the period to be appropriated9905€-108k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-108k€6k▲
Transfer from equity791/2€108k€71k▼
Transfer to equity691/2€0€4k▲
To other reserves6921€0€4k▲
Profit to be distributed694/7€0€73k▲
Return on contributions (dividend)694€0€73k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-108k ▼120%
Net result drops to €-108k, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €540k ▲1098%
Operating result €795k, net result €540k, both a record.
31-12
Financial
Liquidity times 5current ratio 17.03
Current ratio from 3.70 to 17.03; short-term debt falls from €52k to €41k.
31-12
Financial
Equity above €500kEq €797k ▲208%
4 profitable years in a row build equity to €797k.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200kEq €215k ▲47.9%
2 profitable years in a row build equity to €215k.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €23k
Net result €23k after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Sint-Niklaas · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Turkyen 459100 Sint-NiklaasGround area
2,239 m²
Building footprint
190 m²
Volume, LiDAR
1,007 m³
Parcel 46017B0566/00F000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
db-HORSES
since 20102.259.841.662
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46017B0566/00F000 | Flanders | 2,238 m² | 1 · 189 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 374 EUR awarded · 304 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 374 EUR | 304 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,957 companies in sector 01430 we hold annual accounts for 743. 442 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-07-2010
Fiscal year end31-12
Activities, NACEBEL
01430Raising of horses and other equines
01620Support activities for animal production
93110Operation of sports facilities
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.