Horde
ActiveHorde has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €95k and a net result of €11k. Equity is growing by ~25.8% per year across the filed fiscal years. Its solvency ranks better than 60% of 1983 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
72
/ 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
Profitability47▼-37
Solvency87▲+12
Growth52=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.55 against 1.96 in 2024; short-term debt: 38.3% and cash: 66.9% of total assets), and 38.3% 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 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
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 · 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
61.7%
Return on assets
7.4%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 06-02-2026, 83 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
83 d early
2024
104 d early
2023
1 d early
2022
30 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€95k▼ 40.1%
2024 · €159k
2022: €44k
2023: €120k
2024: €159k
2022 → 2025
Total assets
€154k▼ 51.8%
2024 · €320k
2022: €81k
2023: €177k
2024: €320k
2022 → 2025
Net result
€11k▼ 70.3%
2024 · €38k
2022: €42k
2023: €77k
2024: €38k
2022 → 2025
Working capital
€91k▼ 40.9%
2024 · €154k
2022: €42k
2023: €115k
2024: €154k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€44k-€120k▲ 175%€159k▲ 31.9%€95k▼ 40.1%
Operating result€55k-€100k▲ 84.0%€52k▼ 48.2%€16k▼ 69.1%
Net result€42k-€77k▲ 81.0%€38k▼ 49.8%€11k▼ 70.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 69% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €154k
Fixed assets
€4k▼ 11.1%
Current assets
€150k▼ 52.3%
Equity and liabilities €154k
Equity
€95k▼ 40.1%
Debt
€59k▼ 63.3%
The debt ratio falls from 50.3% to 38.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€18k▼
2024 · €53k
Cash flow
€13k▼
2024 · €40k
Solvency
61.7%▲
2024 · 49.7%
Current ratio
2.55▲
2024 · 1.96
Quick ratio
2.50▲
2024 · 1.94
Debt / equity
0.62▼
2024 · 1.01
ROE
12.0%▼
2024 · 24.2%
ROA
7.4%▼
2024 · 12.0%
Interest coverage
2.24▼
2024 · 10.16
Debt
€59k▼
2024 · €161k
Debt ≤ 1 year
€59k▼
2024 · €161k
Income taxes
€2k▼
2024 · €11k
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€320k€154k▼
Fixed assets21/28€4k€4k▼
Tangible fixed assets22/27€4k€4k▼
Plant, machinery and equipment23€4k€4k▼
Current assets29/58€315k€150k▼
Stocks and contracts in progress3€3k€3k=
Stocks30/36€3k€3k=
Amounts receivable within one year40/41€65k€44k▼
Trade receivables40€65k€37k▼
Other amounts receivable41€64€7k▲
Current investments50/53€0-
Cash at bank and in hand54/58€247k€103k▼
Deferred charges and accrued income490/1€529€531▲
Equity and liabilities
Total equity and liabilities10/49€320k€154k▼
Equity10/15€159k€95k▼
Contributions10/11€2k€2k=
Reserves13€157k€94k▼
Distributable reserves133€157k€94k▼
Profit (loss) carried forward14-€0
Amounts payable17/49€161k€59k▼
Amounts payable within one year42/48€161k€59k▼
Trade debts44€114k€45k▼
Suppliers440/4€114k€45k▼
Taxes, remuneration and social security45€13k€1k▼
Taxes450/3€13k€1k▼
Other amounts payable47/48€34k€12k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€2k▲
Other operating charges640/8€572€23k▲
Gross operating margin9900€54k€40k▼
Operating profit (loss)9901€52k€16k▼
Financial income75/76B€3k€5k▲
Recurring financial income75€3k€5k▲
Financial charges65/66B€5k€8k▲
Recurring financial charges65€5k€8k▲
Profit (loss) for the period before taxes9903€50k€13k▼
Income taxes67/77€11k€2k▼
Profit (loss) for the period9904€38k€11k▼
Profit (loss) for the period to be appropriated9905€38k€11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€38k€11k▼
Transfer from equity791/2-€75k
Transfer to equity691/2€38k€11k▼
To the legal reserve6920-€11k
To other reserves6921€38k€0▼
Profit to be distributed694/7-€75k
Return on contributions (dividend)694-€75k
The notes to these accounts (5 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
06-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €11k ▼70.3%
Net result drops to €11k, the lowest in the series.
16-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €150kEq €159k ▲31.9%
3 profitable years in a row build equity to €159k.
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2022net €77k ▲81%
Operating result €100k, net result €77k, both a record.
30-09
Financial
Equity above €100kEq €120k ▲175%
2 profitable years in a row build equity to €120k.
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro 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, Gent · 1 establishment unit since 2021
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.
Dublinstraat 299000 GentGround area
4,510 m²
Building footprint
3,510 m²
Volume, LiDAR
41,002 m³
Parcel 44021A3417/00W000, Flanders · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Horde
since 20212.320.514.667
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A3417/00W000 | Flanders | 4,510 m² | 1 · 3,510 m² | 14.7 m · 4 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 42,000 EUR awarded · 42,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 7,000 EUR | 7,000 EUR |
| 2024 | 1 | 14,000 EUR | 14,000 EUR |
| 2023 | 1 | 14,000 EUR | 14,000 EUR |
| 2022 | 1 | 7,000 EUR | 7,000 EUR |
Schemes
Professionele kunsten: Tussenkomst in de kosten voor deelname aan een internationaal presentatiemoment (Kunstendecreet 2021)
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Of 8,303 companies in sector 90201 we hold annual accounts for 601. 485 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-07-2021
Fiscal year end30-09
Activities, NACEBEL
90201Performing arts by independent artists
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.