EC HORSES
ActiveEC HORSES has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €212k and a net result of €57k. Equity is growing by ~35.9% per year across the filed fiscal years. Its solvency ranks better than 15% of 1727 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▲+15
Solvency36▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity short (current ratio 0.59 against 0.81 in 2024; short-term debt: 43.6% and cash: 6% of total assets), and 88.6% 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+raises 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
11.4%
Return on assets
3.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 1727 sector peers (2025).
NBB · sector comparisonPosition among 1727 sector peers
Solvency
better than 15%
← 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 29-08-2026, 29 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 · 8 filingsDeviation from the deadline
2025
29 d late
2024
28 d late
2023
21 d late
2022
30 d late
2021
31 d late
2020
61 d late
2019
59 d late
← 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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€212k▲ 35.4%
2024 · €157k
2018: €25k
2019: €29k
2020: €52k
2021: €126k
2022: €139k
2023: €136k
2024: €157k
2018 → 2025
Total assets
€1.86M▲ 5.9%
2024 · €1.75M
2018: €515k
2019: €572k
2020: €695k
2021: €1.05M
2022: €1.15M
2023: €1.38M
2024: €1.75M
2018 → 2025
Net result
€57k▲ 161%
2024 · €22k
2018: €6k
2019: €4k
2020: €23k
2021: €76k
2022: €14k
2023: €1k
2024: €22k
2018 → 2025
Working capital
€-332k▼ 123%
2024 · €-149k
2018: €-137k
2019: €-143k
2020: €-169k
2021: €-127k
2022: €-171k
2023: €-186k
2024: €-149k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€126k-€139k▲ 10.0%€136k▼ 1.6%€157k▲ 14.8%€212k▲ 35.4%
Operating result€86k-€25k▼ 70.6%€14k▼ 43.7%€42k▲ 195%€98k▲ 134%
Net result€76k-€14k▼ 81.3%€1k▼ 91.7%€22k▲ 1,751%€57k▲ 161%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 134% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.86M
Fixed assets
€1.38M▲ 22.6%
Current assets
€477k▼ 24.1%
Equity and liabilities €1.86M
Equity
€212k▲ 35.4%
Provisions
€4k
Debt
€1.64M▲ 2.7%
The debt ratio falls from 91.1% to 88.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€183k▲
2024 · €92k
Cash flow
€142k▲
2024 · €72k
Solvency
11.4%▲
2024 · 8.9%
Current ratio
0.59▼
2024 · 0.81
Quick ratio
0.24▼
2024 · 0.35
Debt / equity
7.73▼
2024 · 10.19
ROE
26.9%▲
2024 · 14.0%
ROA
3.1%▲
2024 · 1.2%
Interest coverage
6.48▲
2024 · 4.48
Debt
€1.64M▲
2024 · €1.60M
Debt ≤ 1 year
€809k▲
2024 · €777k
Debt > 1 year
€756k▼
2024 · €819k
Income taxes
€10k▲
2024 · €414
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€1.75M€1.86M▲
Fixed assets21/28€1.12M€1.38M▲
Intangible fixed assets21-€2k
Tangible fixed assets22/27€1.12M€1.38M▲
Land and buildings22€1.09M€1.22M▲
Plant, machinery and equipment23€21k€23k▲
Furniture and vehicles24€5k€16k▲
Leasing and similar rights25€9k€0▼
Other tangible fixed assets26-€114k
Financial fixed assets28€210€210=
Current assets29/58€628k€477k▼
Stocks and contracts in progress3€359k€286k▼
Stocks30/36€359k€286k▼
Amounts receivable within one year40/41€90k€77k▼
Trade receivables40€3k€72k▲
Other amounts receivable41€87k€5k▼
Cash at bank and in hand54/58€175k€111k▼
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€1.75M€1.86M▲
Equity10/15€157k€212k▲
Contributions10/11€19k€19k=
Reserves13€514€11k▲
Tax-exempt reserves132-€11k
Distributable reserves133€514€514=
Profit (loss) carried forward14€138k€182k▲
Provisions and deferred taxes16-€4k
Deferred taxes168-€4k
Amounts payable17/49€1.60M€1.64M▲
Amounts payable after more than one year17€819k€756k▼
Financial debts170/4€819k€756k▼
Amounts payable within one year42/48€777k€809k▲
Current portion of amounts payable after more than one year42€66k€63k▼
Trade debts44€61k€74k▲
Suppliers440/4€61k€74k▲
Taxes, remuneration and social security45€308€269▼
Taxes450/3€308€269▼
Other amounts payable47/48€650k€671k▲
Accrued charges and deferred income492/3-€75k
Income statement
Code20242025
Non-recurring operating income76A€1k€15k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€50k€85k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€95k€187k▲
Operating profit (loss)9901€42k€98k▲
Financial income75/76B€861€1k▲
Recurring financial income75€861€1k▲
Financial charges65/66B€20k€28k▲
Recurring financial charges65€20k€28k▲
Profit (loss) for the period before taxes9903€22k€71k▲
Transfer from deferred taxes780-€147
Transfer to deferred taxes680-€4k
Income taxes67/77€414€10k▲
Profit (loss) for the period9904€22k€57k▲
Transfer from tax-exempt reserves789-€442
Transfer to tax-exempt reserves689-€11k
Profit (loss) for the period to be appropriated9905€22k€46k▲
Appropriation of the result
Profit (loss) to be appropriated9906€139k€184k▲
Profit (loss) brought forward from the previous period14P€117k€138k▲
Profit to be distributed694/7€2k€2k=
Return on contributions (dividend)694€2k€2k=
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (23 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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 29 days late
2025
31-12
Financial
Equity above €200kEq €212k ▲35.4%
8 profitable years in a row build equity to €212k.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Equity above €150kEq €157k ▲14.8%
7 profitable years in a row build equity to €157k.
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
31-12
Financial
Weakest financial yearnet €1k ▼91.7%
Net result drops to €1k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €76k ▲233%
Net result €76k, the highest in the series.
31-12
Financial
Equity above €100kEq €126k ▲144%
4 profitable years in a row build equity to €126k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 59 days late
2019
11-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 72 days late
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, Peer · 1 establishment unit since 2017
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.
Smeetshofweg 713990 PeerGround area
364 m²
Building footprint
69 m²
Volume, LiDAR
423 m³
Parcel 72010D0282/00K000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EC HORSES
since 20172.269.830.682
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72010D0282/00K000 | Flanders | 364 m² | 1 · 69 m² | 8.3 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
2023 · 1 entry · 1,731 EUR awarded · 1,731 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,731 EUR | 1,731 EUR |
Schemes
Niet-productieve investeringssteun land- en tuinbouwers
Similar companies · same sector, comparable size
STAL HET GROENHOF
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BE 0727.873.944
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BART VAN POUCKE-HORSES
BE 0837.622.219
Wetteren · Eq €209k
QUADROSS STABLES
BE 0545.815.634
Meise · Eq €208k
CASSIAN GERMIS
BE 0565.972.432
Bassenge · Eq €217k
Of 1,958 companies in sector 01430 we hold annual accounts for 743. 522 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-10-2017
Fiscal year end31-12
Activities, NACEBEL
01430Raising of horses and other equines
46232Wholesale trade
93110Operation of sports facilities
93127Equestrian clubs
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:claugdep@gmail.com
Phone:0488/520260