Horafrost
ActiveFrom the official registers: KBO 45 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
Horafrost has been active since 1976 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €132.6m and a net result of €9.7m. Equity is growing by about 2.7% per year across the filed financial years. Its solvency ranks better than 95% of 870 sector peers (NACE 10, financial year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Financials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 30 July 2026 Financial year closed on 30 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 1 November 2026.
Annual accounts 2024
- Financial year ended
- 30-12-2024
- Filed on
- 17-07-2025
- Format
- full format
- Reference
- 2025-00281372
Source amounts without an identifiable currency are assumed to be EUR.
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result falls in 2024; 2024 is 17% below 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 10, Manufacture of food products: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 1,579 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 96.7% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a higher bankruptcy probability: 0.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,579 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €58.5m | €62.5m | €77.6m | €84.1m | ▲ 8.3% |
| Turnover70 | €52.8m | €57.1m | €57.3m | €53.9m | €61.3m | €72.2m | €79.0m | ▲ 9.4% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €2.8m | -€0.9m | €3.7m | €3.3m | ▼ 11.2% |
| Other operating income74 | - | - | - | €1.8m | €2.1m | €1.8m | €1.8m | ▲ 5.1% |
| Operating charges60/66A | - | - | - | €54.0m | €58.9m | €64.6m | €73.3m | ▲ 13.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €35.3m | €33.8m | €43.1m | €48.8m | ▲ 13.4% |
| Purchases600/8 | - | - | - | €35.3m | €33.9m | €43.0m | €48.8m | ▲ 13.5% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.04m | -€0.08m | €0.06m | €0.01m | ▼ 77.6% |
| Services and other goods61 | - | - | - | €13.6m | €20.0m | €15.9m | €17.6m | ▲ 10.5% |
| Remuneration, social security and pensions62 | - | - | - | €2.9m | €3.4m | €4.1m | €4.5m | ▲ 10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.9m | €2.4m | €2.2m | €1.8m | €1.3m | €1.3m | €1.8m | ▲ 36.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0 | -€0.03m | -€0.3m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.4m | €0.5m | €0.5m | €0.5m | ▼ 5.5% |
| Operating profit (loss)9901 | €5.7m | €8.9m | €6.2m | €4.5m | €3.6m | €13.0m | €10.8m | ▼ 16.7% |
| Financial income75/76B | - | - | - | €0.6m | €0.6m | €2.0m | €2.1m | ▲ 3.0% |
| Recurring financial income75 | €3.2m | €0.9m | €0.5m | €0.6m | €0.6m | €2.0m | €2.1m | ▲ 3.0% |
| Income from financial fixed assets750 | - | - | - | €0.01m | €0.01m | €0.004m | €0.03m | ▲ 700% |
| Income from current assets751 | - | - | - | €0.003m | €0.03m | €0.03m | €0.001m | ▼ 94.8% |
| Other financial income752/9 | - | - | - | €0.6m | €0.6m | €2.0m | €2.1m | ▲ 2.9% |
| Financial charges65/66B | - | - | - | €0.008m | €0.02m | €0.02m | €0.009m | ▼ 51.2% |
| Recurring financial charges65 | €0.1m | €0.009m | €0.008m | €0.008m | €0.02m | €0.02m | €0.009m | ▼ 51.2% |
| Debt charges650 | €0.06m | €0 | - | - | €0.002m | €0 | - | - |
| Other financial charges652/9 | - | - | - | €0.008m | €0.02m | €0.02m | €0.009m | ▼ 51.2% |
| Profit (loss) for the period before taxes9903 | €8.7m | €9.7m | €6.6m | €5.1m | €4.2m | €15.0m | €12.9m | ▼ 13.9% |
| Transfer from deferred taxes780 | - | - | - | €0.005m | €365 | €194 | €194 | = |
| Income taxes67/77 | €2.9m | €2.8m | €1.9m | €1.2m | €1.0m | €3.6m | €3.2m | ▼ 11.7% |
| Taxes670/3 | - | - | - | €1.2m | €1.0m | €3.6m | €3.2m | ▼ 11.7% |
| Profit (loss) for the period9904 | €5.9m | €6.9m | €4.7m | €3.9m | €3.2m | €11.4m | €9.7m | ▼ 14.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.8m | €1.5m | €0.1m | €1.8m | ▲ 13× |
| Transfer to tax-exempt reserves689 | - | - | - | €1.0m | €0 | €1.0m | €1.0m | = |
| Profit (loss) for the period to be appropriated9905 | €5.1m | €6.6m | €4.1m | €3.6m | €4.7m | €10.6m | €10.6m | ▲ 0.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €122.6m | €126.9m | €128.1m | €130.1m | €130.8m | €140.6m | €147.3m | ▲ 4.8% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €8.5m | €8.3m | €7.1m | €5.7m | €5.4m | €9.3m | €12.3m | ▲ 32.0% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €8.3m | €8.1m | €6.8m | €5.4m | €5.1m | €9.0m | €12.0m | ▲ 32.9% |
| Land and buildings22 | - | - | - | €3.3m | €3.0m | €2.7m | €2.4m | ▼ 10.5% |
| Plant, machinery and equipment23 | - | - | - | €1.7m | €1.9m | €6.2m | €9.2m | ▲ 49.7% |
| Furniture and vehicles24 | - | - | - | €0.4m | €0.2m | €0.2m | €0.4m | ▲ 118% |
| Financial fixed assets28 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Affiliated companies280/1 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Participating interests280 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Other financial fixed assets284/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €114.0m | €118.6m | €121.0m | €124.4m | €125.4m | €131.3m | €135.0m | ▲ 2.9% |
| Amounts receivable after more than one year29 | - | - | - | €38.2m | €38.2m | €38.2m | €38.2m | = |
| Other amounts receivable291 | - | - | - | €38.2m | €38.2m | €38.2m | €38.2m | = |
| Stocks and contracts in progress3 | €12.0m | €11.6m | €10.7m | €13.6m | €12.8m | €16.4m | €19.7m | ▲ 20.0% |
| Stocks30/36 | - | - | - | €13.6m | €12.8m | €16.4m | €19.7m | ▲ 20.0% |
| Raw materials and consumables30/31 | - | - | - | €0.3m | €0.4m | €0.3m | €0.3m | ▼ 4.2% |
| Work in progress32 | - | - | - | €12.1m | €11.3m | €15.1m | €18.0m | ▲ 19.6% |
| Finished goods33 | - | - | - | €1.1m | €1.1m | €1.0m | €1.3m | ▲ 33.6% |
| Amounts receivable within one year40/41 | €98.3m | €65.7m | €68.0m | €70.4m | €72.5m | €75.9m | €76.3m | ▲ 0.5% |
| Trade receivables40 | - | - | - | €10.9m | €13.5m | €15.5m | €17.4m | ▲ 12.8% |
| Other amounts receivable41 | - | - | - | €59.6m | €59.1m | €60.4m | €58.8m | ▼ 2.6% |
| Current investments50/53 | €2.5m | €2.5m | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €1.1m | €0.4m | €4.0m | €2.1m | €1.8m | €0.7m | €0.8m | ▲ 22.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 18.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €122.6m | €126.9m | €128.1m | €130.1m | €130.8m | €140.6m | €147.3m | ▲ 4.8% |
| Equity10/15 | €110.4m | €117.1m | €119.7m | €121.4m | €122.8m | €128.3m | €132.6m | ▲ 3.3% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €110.1m | €116.8m | €119.3m | €121.1m | €122.5m | €128.0m | €132.3m | ▲ 3.3% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | - | - | €4.3m | €2.8m | €3.7m | €2.8m | ▼ 22.3% |
| Distributable reserves133 | - | - | - | €116.8m | €119.6m | €124.3m | €129.4m | ▲ 4.1% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - | - | - |
| Investment grants15 | - | - | - | €0.003m | €0.002m | €0.001m | €0.001m | ▼ 43.0% |
| Provisions and deferred taxes16 | €1.4m | €0.8m | €0.8m | €0.8m | €0.8m | €0.5m | €0.5m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.8m | €0.7m | €0.5m | €0.5m | = |
| Major repairs and maintenance162 | - | - | - | €0.8m | €0.7m | €0.5m | €0.5m | = |
| Deferred taxes168 | - | - | - | €0.001m | €0.001m | €451 | €257 | ▼ 43.0% |
| Amounts payable17/49 | €10.8m | €9.0m | €7.6m | €7.9m | €7.2m | €11.8m | €14.3m | ▲ 21.1% |
| Amounts payable within one year42/48 | €10.6m | €8.9m | €7.6m | €7.8m | €7.2m | €11.7m | €14.3m | ▲ 21.5% |
| Trade debts44 | €7.4m | €6.1m | €5.0m | €5.2m | €5.0m | €5.0m | €7.7m | ▲ 54.9% |
| Suppliers440/4 | - | - | - | €5.2m | €5.0m | €5.0m | €7.7m | ▲ 54.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.4m | €0.6m | €1.1m | ▲ 75.4% |
| Taxes450/3 | - | - | - | €0.04m | €0 | €0.06m | €0.5m | ▲ 756% |
| Remuneration and social security454/9 | - | - | - | €0.4m | €0.4m | €0.6m | €0.6m | ▲ 3.7% |
| Other amounts payable47/48 | - | - | - | €2.1m | €1.8m | €6.1m | €5.5m | ▼ 10.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.07m | €0.02m | €0.05m | €0.02m | ▼ 65.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5.9m | €6.9m | €4.7m | €3.9m | €3.2m | €11.4m | €9.7m | ▼ 14.7% |
| + Depreciation and write-downs630 | €1.9m | €2.4m | €2.2m | €1.8m | €1.3m | €1.3m | €1.8m | ▲ 36.9% |
| Operating cash flow (approximation) | €7.8m | €9.3m | €6.9m | €5.6m | €4.5m | €12.8m | €11.6m | ▼ 9.3% |
| Investment in fixed assets (approximation) | - | -€2.1m | -€0.9m | -€0.4m | -€1.0m | -€5.3m | -€4.8m | ▲ 8.3% |
| Change in cash | - | -€0.7m | €3.5m | -€1.9m | -€0.2m | -€1.2m | €0.1m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 45 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-12-2024 | full format | 17-07-2025 | 2025-00281372 | |
| 30-12-2023 | full format | 01-07-2024 | 2024-00209786 | |
| 30-12-2022 | full format | 14-07-2023 | 2023-00241283 | |
| 30-12-2021 | full format | 25-07-2022 | 2022-20241450 | |
| 30-12-2020 | full format | 30-08-2021 | 2021-59400537 | |
| 30-12-2019 | full format | 30-07-2020 | 2020-37100338 | |
| 30-12-2018 | full format | 23-07-2019 | 2019-37500216 | |
| 30-12-2017 | full format | 26-07-2018 | 2018-41300208 | |
| 30-12-2016 | full format | 07-08-2017 | 2017-41800445 | |
| 30-12-2015 | full format | 28-02-2017 | 2017-05400415 |
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Subsidies and aid
Flemish government
2023 to 2025 · 6 entries · €164,045 awarded · €163,565 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €150,000 | €161,520 |
| 2024 | 3 | €2,045 | €2,045 |
| 2023 | 1 | €12,000 | €0 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.