HORCON
InactiveHORCON was declared bankrupt on 05-09-2022 (Ondernemingsrechtbank Antwerpen, afdeling Mechelen); the bankruptcy was closed by liquidation by judgment of 20-11-2023, published in the Belgian State Gazette on 24-11-2023.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 20-07-2022, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
11 d early
2020
23 d late
2019
63 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 25 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2021, micro schema
Equity
-€225,032▼ 62.9%
2020 · -€138,110
Total assets
€34,308▼ 70.3%
2020 · €115,463
Net result
-€86,923▼ 284%
2020 · -€22,657
Working capital
-€225,897▼ 62.0%
2020 · -€139,407
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Operating result-€137,272-€1,403-€18,178-€82,340▼ 353%
Net result-€142,843--€7,767▲ 94.6%-€22,657▼ 192%-€86,923▼ 284%
Equity-€107,686--€115,453▼ 7.2%-€138,110▼ 19.6%-€225,032▼ 62.9%
Total assets€177,593-€135,895▼ 23.5%€115,463▼ 15.0%€34,308▼ 70.3%
Debt€285,280-€251,348▼ 11.9%€253,573▲ 0.9%€259,341▲ 2.3%
Working capital-€107,686--€117,183▼ 8.8%-€139,407▼ 19.0%-€225,897▼ 62.0%
Staff (FTE)0.8-0.5▼ 37.5%0.1▼ 80.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €82,340 in 2021 against €18,178 in 2020; the loss grows.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €34,308
Fixed assets
€865 ▼ 33.3%
Current assets
€33,443 ▼ 70.7%
Key figures and ratios
EBITDA
-€81,908▼
2020 · -€17,745
Cash flow
-€86,490▼
2020 · -€22,224
Solvency
-655.9%▼
2020 · -119.6%
Current ratio
0.13▼
2020 · 0.45
Quick ratio
0.00▼
2020 · 0.01
Debt to equity
-1.15
ROA
-253.4%▼
2020 · -19.6%
Interest coverage
-17.04
Debt ≤ 1 year
€259,341▲
2020 · €253,573
Staff costs
€1,618
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,618 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,746 | €433 | €433 | €433 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €66,398 | - |
| Other operating charges640/8 | - | - | - | €449 | - |
| Non-recurring operating charges66A | - | - | - | €13,491 | - |
| Gross operating margin9900 | -€36,443 | €13,120 | €10,278 | €48 | ▼ 99.5% |
| Operating profit (loss)9901 | -€137,272 | €1,403 | -€18,178 | -€82,340 | ▼ 353% |
| Financial income75/76B | - | - | - | €223 | - |
| Recurring financial income75 | €855 | €192 | €230 | €223 | ▼ 3.0% |
| Financial charges65/66B | - | - | - | €4,806 | - |
| Recurring financial charges65 | €6,344 | €9,362 | €4,834 | €4,806 | ▼ 0.6% |
| Profit (loss) for the period before taxes9903 | -€142,760 | -€7,767 | -€22,657 | -€86,923 | ▼ 284% |
| Income taxes67/77 | €83 | - | - | - | - |
| Profit (loss) for the period9904 | -€142,843 | -€7,767 | -€22,657 | -€86,923 | ▼ 284% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,277 | - |
| Profit (loss) for the period to be appropriated9905 | -€142,843 | -€32,003 | -€22,657 | -€85,645 | ▼ 278% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €177,593 | €135,895 | €115,463 | €34,308 | ▼ 70.3% |
| Fixed assets21/28 | - | €1,730 | €1,298 | €865 | ▼ 33.3% |
| Tangible fixed assets22/27 | - | €1,730 | €1,298 | €865 | ▼ 33.3% |
| Plant, machinery and equipment23 | - | - | - | €440 | - |
| Furniture and vehicles24 | - | - | - | €426 | - |
| Current assets29/58 | €177,593 | €134,165 | €114,165 | €33,443 | ▼ 70.7% |
| Stocks and contracts in progress3 | €166,181 | €129,222 | €111,810 | €33,199 | ▼ 70.3% |
| Stocks30/36 | - | - | - | €33,199 | - |
| Amounts receivable within one year40/41 | €4,619 | €3,313 | - | - | - |
| Cash at bank and in hand54/58 | €6,794 | €1,631 | €2,355 | €244 | ▼ 89.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €177,593 | €135,895 | €115,463 | €34,308 | ▼ 70.3% |
| Equity10/15 | -€107,686 | -€115,453 | -€138,110 | -€225,032 | ▼ 62.9% |
| Contributions10/11 | €261,640 | €261,640 | €261,640 | €261,640 | = |
| Capital10 | - | - | - | €261,640 | - |
| Issued capital100 | - | - | - | €261,640 | - |
| Reserves13 | - | €24,236 | €24,236 | €22,958 | ▼ 5.3% |
| Tax-exempt reserves132 | - | - | - | €22,958 | - |
| Profit (loss) carried forward14 | -€369,326 | -€401,329 | -€423,985 | -€509,631 | ▼ 20.2% |
| Amounts payable17/49 | €285,280 | €251,348 | €253,573 | €259,341 | ▲ 2.3% |
| Amounts payable within one year42/48 | €285,280 | €251,348 | €253,573 | €259,341 | ▲ 2.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €229,391 | - |
| Trade debts44 | €21,627 | €9,515 | €10,787 | €6,844 | ▼ 36.6% |
| Suppliers440/4 | - | - | - | €6,844 | - |
| Taxes, remuneration and social security45 | - | - | - | €3,666 | - |
| Taxes450/3 | - | - | - | €3,327 | - |
| Remuneration and social security454/9 | - | - | - | €338 | - |
| Other amounts payable47/48 | - | - | - | €19,441 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€142,843 | -€7,767 | -€22,657 | -€86,923 | ▼ 284% |
| + Depreciation and write-downs630 | €7,746 | €433 | €433 | €433 | = |
| Operating cash flow (approximation) | -€135,097 | -€7,334 | -€22,224 | -€86,490 | ▼ 289% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | - |
| Change in cash | - | -€5,163 | €724 | -€2,111 | ▼ 391% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2023
24-11
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Antwerpen, afdeling Mechelen · event 20-11-2023
2022
09-09
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Mechelen · event 05-09-2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
27-02
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Antwerpen · event 22-02-2019
2018
06-12
Judicial reorganisation
Opening
Ondernemingsrechtbank Antwerpen · collective agreement · event 30-11-2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
2016
22-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 22 days late
2015
24-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 24 days late
2014
10-07
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
26-08
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 26 days late
SignalNBB filing
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ELKE VAN WEERDT TEMSESTEENWEG 2,
2880 BORNEM |
05-09-2022 → 20-11-2023 |