HORA EST
ActiveHORA EST has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €42k and a net result of €7k. Equity is growing by ~65.2% per year across the filed fiscal years. Its solvency ranks better than 66% of 348 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability82▼-18
Solvency89▼-5
Growth78=
Track record94
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 2.57 against 3.19 in 2024; short-term debt: 35.9% and cash: 25% of total assets), and 35.9% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 23
Relative position
BE, all sectors
reference
Sector 23
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
64.1%
Return on assets
10.8%
Age of the figures
9 mo
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 · 4 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
31 d late
2022
68 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€42k▲ 20.2%
2024 · €35k
2022: €5k
2023: €7k
2024: €35k
2022 → 2025
Total assets
€65k▲ 28.8%
2024 · €51k
2022: €12k
2023: €25k
2024: €51k
2022 → 2025
Net result
€7k▼ 74.7%
2024 · €28k
2022: €5k
2023: €2k
2024: €28k
2022 → 2025
Working capital
€37k▲ 6.1%
2024 · €35k
2022: €5k
2023: €7k
2024: €35k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€5k-€7k▲ 41.7%€35k▲ 399%€42k▲ 20.2%
Operating result€9k-€5k▼ 43.5%€41k▲ 727%€18k▼ 56.0%
Net result€5k-€2k▼ 57.4%€28k▲ 1,255%€7k▼ 74.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 56% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65k
Fixed assets
€5k
Current assets
€60k
Equity and liabilities €65k
Equity
€42k▲ 20.2%
Debt
€23k▲ 47.4%
The debt ratio rises from 31.4% to 35.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19k
Cash flow
€8k
Solvency
64.1%▼
2024 · 68.6%
Current ratio
2.57▼
2024 · 3.19
Quick ratio
2.57▼
2024 · 3.19
Debt / equity
0.56▲
2024 · 0.46
ROE
16.8%▼
2024 · 80.0%
ROA
10.8%▼
2024 · 54.9%
Interest coverage
8.72
Debt
€23k▲
2024 · €16k
Debt ≤ 1 year
€23k▲
2024 · €16k
Income taxes
€9k▼
2024 · €13k
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€51k€65k▲
Fixed assets21/28-€5k
Tangible fixed assets22/27-€5k
Plant, machinery and equipment23-€2k
Furniture and vehicles24-€3k
Current assets29/58€51k€60k▲
Amounts receivable within one year40/41€33k€43k▲
Trade receivables40€28k€30k▲
Other amounts receivable41€5k€13k▲
Cash at bank and in hand54/58€17k€16k▼
Deferred charges and accrued income490/1€678€963▲
Equity and liabilities
Total equity and liabilities10/49€51k€65k▲
Equity10/15€35k€42k▲
Contributions10/11€100€100=
Profit (loss) carried forward14€35k€42k▲
Amounts payable17/49€16k€23k▲
Amounts payable within one year42/48€16k€23k▲
Trade debts44€3k€3k▲
Suppliers440/4€3k€3k▲
Taxes, remuneration and social security45€13k€20k▲
Taxes450/3€13k€20k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€559
Other operating charges640/8€1k€500▼
Gross operating margin9900€43k€19k▼
Operating profit (loss)9901€41k€18k▼
Financial income75/76B€63€328▲
Recurring financial income75€63€328▲
Financial charges65/66B€727€2k▲
Recurring financial charges65€727€2k▲
Profit (loss) for the period before taxes9903€41k€16k▼
Income taxes67/77€13k€9k▼
Profit (loss) for the period9904€28k€7k▼
Profit (loss) for the period to be appropriated9905€28k€7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€35k€42k▲
Profit (loss) brought forward from the previous period14P€7k€35k▲
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Highest result since 2022net €28k ▲1255%
Operating result €41k, net result €28k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.19
Current ratio from 1.38 to 3.19; short-term debt falls from €18k to €16k.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet €2k ▼57.4%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
07-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 68 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Beernem · 1 establishment unit since 2022
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.
Tinhoutstraat 1558730 BeernemGround area
718 m²
Building footprint
213 m²
Volume, LiDAR
1,057 m³
Parcel 31021C0421/00E002, Flanders · tallest building 9.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
HORA EST
since 20222.327.972.185
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31021C0421/00E002 | Flanders | 718 m² | 1 · 213 m² | 9.6 m · 1 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.
Similar companies · same sector, comparable size
GRANITS WALLONIE
BE 0444.699.765
La Louvière · Eq €42k
MARBRERIE SOARES DA COSTA
BE 0830.573.683
Soignies · Eq €42k
ISTONE
BE 0430.036.236
Deinze · Eq €41k
TAILLEUR DE PIERRE
BE 1002.809.457
Flémalle · Eq €42k
PIERRES ET MARBRES
BE 0462.082.462
Herve · Eq €43k
Of 739 companies in sector 23700 we hold annual accounts for 491. 323 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-02-2022
Fiscal year end31-12
Activities, NACEBEL
23700Cutting, shaping and finishing of stone
13300Finishing of textiles
25530Machining of metals
43320Joinery installation
43341Painting of buildings
49320Non-scheduled passenger transport by road
49390Land transport and transport via pipelines
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.