HORATEC
ActiveHORATEC has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.92M and a net result of €28k. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 64% of 299 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
94
/ 100
Excellent▲ +24 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability5▲+5
Solvency98▲+1
Growth52=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270k at 30 days acceptable
Liquidity ample (current ratio 2.64 against 2.82 in 2023), and 42.6% 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 · 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
57.4%
Return on assets
0.6%
Age of the figures
20 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Sector 16
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
51 d early
2022
34 d early
2021
51 d early
2020
48 d early
2019
56 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€2.92M▲ 1.0%
2023 · €2.89M
2018: €1.85M
2019: €2.17M
2020: €2.42M
2021: €2.96M
2022: €3.12M
2023: €2.89M
2018 → 2024
Total assets
€5.09M▼ 3.5%
2023 · €5.27M
2018: €1.97M
2019: €2.28M
2020: €2.55M
2021: €3.15M
2022: €5.78M
2023: €5.27M
2018 → 2024
Net result
€28k
2023 · €-231k
2018: €265k
2019: €324k
2020: €248k
2021: €538k
2022: €164k
2023: €-231k
2018 → 2024
Working capital
€655k▼ 6.0%
2023 · €697k
2018: €1.60M
2019: €2.00M
2020: €2.29M
2021: €386k
2022: €-940k
2023: €697k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2.42M-€2.96M▲ 22.2%€3.12M▲ 5.5%€2.89M▼ 7.4%€2.92M▲ 1.0%
Operating result€319k-€714k▲ 124%€2k▼ 99.7%€-185k€72k
Net result€248k-€538k▲ 117%€164k▼ 69.5%€-231k€28k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €72k after a loss of €185k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.09M
Fixed assets
€4.03M▼ 3.8%
Current assets
€1.06M▼ 2.1%
Equity and liabilities €5.09M
Equity
€2.92M▲ 1.0%
Debt
€2.17M▼ 8.9%
The debt ratio falls from 45.2% to 42.6%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€564k▲
2023 · €313k
Cash flow
€520k▲
2023 · €267k
Solvency
57.4%▲
2023 · 54.8%
Current ratio
2.64▼
2023 · 2.82
Quick ratio
2.36▼
2023 · 2.47
Debt / equity
0.74▼
2023 · 0.82
ROE
1.0%▲
2023 · -8.0%
ROA
0.6%▲
2023 · -4.4%
Interest coverage
11.36▲
2023 · 5.68
Debt
€2.17M▼
2023 · €2.38M
Debt ≤ 1 year
€401k▲
2023 · €382k
Debt > 1 year
€1.75M▼
2023 · €2.00M
Income taxes
€4▲
2023 · €0
Staff costs
€472k▼
2023 · €581k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€5.27M€5.09M▼
Fixed assets21/28€4.20M€4.03M▼
Tangible fixed assets22/27€4.20M€4.03M▼
Plant, machinery and equipment23€4.19M€4.03M▼
Furniture and vehicles24€1k€949▼
Current assets29/58€1.08M€1.06M▼
Stocks and contracts in progress3€136k€112k▼
Stocks30/36€136k€112k▼
Amounts receivable within one year40/41€168k€60k▼
Trade receivables40€25k€15k▼
Other amounts receivable41€143k€46k▼
Cash at bank and in hand54/58€750k€859k▲
Deferred charges and accrued income490/1€25k€25k▼
Equity and liabilities
Total equity and liabilities10/49€5.27M€5.09M▼
Equity10/15€2.89M€2.92M▲
Contributions10/11€500k€500k=
Capital10€500k€500k=
Issued capital100€500k€500k=
Reserves13€2.39M€2.42M▲
Non-distributable reserves130/1€50k€50k=
Legal reserve130€50k€50k=
Distributable reserves133€2.34M€2.37M▲
Amounts payable17/49€2.38M€2.17M▼
Amounts payable after more than one year17€2.00M€1.75M▼
Financial debts170/4€2.00M€1.75M▼
Amounts payable within one year42/48€382k€401k▲
Financial debts43€250k€250k=
Other loans439€250k€250k=
Trade debts44€83k€99k▲
Suppliers440/4€83k€99k▲
Taxes, remuneration and social security45€50k€52k▲
Taxes450/3€14k€22k▲
Remuneration and social security454/9€36k€30k▼
Accrued charges and deferred income492/3-€19k
Income statement
Code20232024
Non-recurring operating income76A-€20k
Remuneration, social security and pensions62€581k€472k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€498k€492k▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€895k€1.04M▲
Operating profit (loss)9901€-185k€72k▲
Financial income75/76B€9k€5k▼
Recurring financial income75€9k€5k▼
Financial charges65/66B€55k€50k▼
Recurring financial charges65€55k€50k▼
Profit (loss) for the period before taxes9903€-231k€28k▲
Income taxes67/77€0€4▲
Profit (loss) for the period9904€-231k€28k▲
Profit (loss) for the period to be appropriated9905€-231k€28k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-231k€28k▲
Transfer from equity791/2€231k-
Transfer to equity691/2-€28k
To other reserves6921-€28k
Social balance
Average headcount (FTE)908710.08.2▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €28k
Net result €28k after one loss-making year.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-231k ▼241%
Net result drops to €-231k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 2.82
Current ratio from 0.65 to 2.82; short-term debt falls from €2.66M to €382k.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €538k ▲117%
Operating result €714k, net result €538k, both a record.
13-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €2MEq €2.17M ▲17.5%
2 profitable years in a row build equity to €2.17M.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
17-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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, Kuurne · 1 establishment unit since 2004
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.
Noordlaan 48520 KuurneGround area
9,681 m²
Building footprint
6,878 m²
Volume, LiDAR
41,058 m³
Parcel 34023A0412/00S000, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HORATEC
since 20042.139.710.330
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34023A0412/00S000 | Flanders | 9,681 m² | 1 · 6,878 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.
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Of 664 companies in sector 16110 we hold annual accounts for 319. 166 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-10-2004
Fiscal year end31-12
Activities, NACEBEL
16110Sawmilling and planing of wood
31004Manufacture of dining room, living room, bedroom and bathroom furniture
36100
36141
31001Manufacture of furniture
31002Manufacture of furniture
36122
36130
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.