HORGA Consulting
ActiveHORGA Consulting has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €68k and a net result of €18k. Equity remains stable across the filed fiscal years (±2.5% per year). Its solvency ranks better than 54% of 20785 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
91
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability69▲+62
Solvency91▼-9
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 4.06 against 8.91 in 2023; short-term debt: 19.2% and cash: 44.3% of total assets), and 34% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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
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 30-07-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
82 d early
2022
4 d early
2021
19 d early
2020
2 d early
2019
39 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€68k▲ 18.0%
2023 · €58k
2018: €69k
2019: €66k
2020: €112k
2021: €127k
2022: €71k
2023: €58k
2018 → 2024
Total assets
€103k▲ 47.9%
2023 · €70k
2018: €95k
2019: €148k
2020: €125k
2021: €136k
2022: €172k
2023: €70k
2018 → 2024
Net result
€18k
2023 · €-14k
2018: €-8k
2019: €8k
2020: €46k
2021: €16k
2022: €-6k
2023: €-14k
2018 → 2024
Working capital
€60k▲ 72.8%
2023 · €35k
2018: €59k
2019: €56k
2020: €107k
2021: €105k
2022: €64k
2023: €35k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€112k-€127k▲ 14.1%€71k▼ 44.0%€58k▼ 19.3%€68k▲ 18.0%
Operating result€64k-€22k▼ 66.2%€4k▼ 79.9%€22k▲ 406%€29k▲ 32.4%
Net result€46k-€16k▼ 65.5%€-6k€-14k▼ 147%€18k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 32% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €103k
Fixed assets
€23k▼ 24.6%
Current assets
€80k▲ 104%
Equity and liabilities €103k
Equity
€68k▲ 18.0%
Provisions
€15k▲ 99.4%
Debt
€20k▲ 348%
The debt ratio rises from 6.3% to 19.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€40k▲
2023 · €32k
Cash flow
€29k▲
2023 · €-4k
Solvency
66.0%▼
2023 · 82.7%
Current ratio
4.06▼
2023 · 8.91
Quick ratio
4.06▼
2023 · 8.91
Debt / equity
0.29▲
2023 · 0.08
ROE
26.3%▲
2023 · -24.0%
ROA
17.3%▲
2023 · -19.8%
Interest coverage
3.47▲
2023 · 0.87
Debt
€20k▲
2023 · €4k
Debt ≤ 1 year
€20k▲
2023 · €4k
Income taxes
€128▼
2023 · €137
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€70k€103k▲
Fixed assets21/28€30k€23k▼
Tangible fixed assets22/27€30k€23k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€29k€21k▼
Current assets29/58€39k€80k▲
Amounts receivable after more than one year29€10k€10k=
Other amounts receivable291€10k€10k=
Amounts receivable within one year40/41€13k€25k▲
Trade receivables40€9k€21k▲
Other amounts receivable41€4k€4k▼
Cash at bank and in hand54/58€16k€46k▲
Deferred charges and accrued income490/1€655-
Equity and liabilities
Total equity and liabilities10/49€70k€103k▲
Equity10/15€58k€68k▲
Contributions10/11€6k€6k=
Reserves13€71k€63k▼
Tax-exempt reserves132€210€210=
Distributable reserves133€70k€63k▼
Profit (loss) carried forward14€-19k€-1k▲
Provisions and deferred taxes16€8k€15k▲
Provisions for liabilities and charges160/5€8k€15k▲
Other liabilities and charges164/5€8k€15k▲
Amounts payable17/49€4k€20k▲
Amounts payable within one year42/48€4k€20k▲
Financial debts43€250€1k▲
Credit institutions430/8€250€1k▲
Trade debts44€103€1k▲
Suppliers440/4€103€1k▲
Taxes, remuneration and social security45€2k€3k▲
Taxes450/3-€374
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€2k€15k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€11k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-25k€8k▲
Other operating charges640/8€793€640▼
Gross operating margin9900€8k€48k▲
Operating profit (loss)9901€22k€29k▲
Financial income75/76B€1k€240▼
Recurring financial income75€1k€240▼
Financial charges65/66B€37k€12k▼
Recurring financial charges65€37k€12k▼
Profit (loss) for the period before taxes9903€-14k€18k▲
Income taxes67/77€137€128▼
Profit (loss) for the period9904€-14k€18k▲
Profit (loss) for the period to be appropriated9905€-14k€18k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-19k€-1k▲
Profit (loss) brought forward from the previous period14P€-5k€-19k▼
Transfer from equity791/2-€7k
Profit to be distributed694/7-€7k
Return on contributions (dividend)694-€7k
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
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €18k
Net result €18k after 2 loss-making years.
10-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 5current ratio 8.91
Current ratio from 1.95 to 8.91; short-term debt falls from €68k to €4k.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €46k ▲461%
Operating result €64k, net result €46k, both a record.
31-12
Financial
Liquidity times 5current ratio 8.87
Current ratio from 1.69 to 8.87; short-term debt falls from €81k to €14k.
31-12
Financial
Equity above €100kEq €112k ▲68.8%
2 profitable years in a row build equity to €112k.
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Braine-l'Alleud · 1 establishment unit since 2008
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.
Av Alph Allard 2681420 Braine-l'Alleud1 establishment unit
HORGA CONSULTING
since 20082.168.726.295
Recognitions · licences · registrations
Legal Entity Identifier
984500D14B3EASB1WB14
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Of 30,000 companies in sector 62200 we hold annual accounts for 18,395. 15,542 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-01-2008
Fiscal year end31-12
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
62900Other information technology and computer services
63100Computing infrastructure, data processing, hosting and related activities
63110Computing infrastructure, data processing, hosting and other information service activities
70200Business and other management consultancy
70210Activities of head offices; management consultancy activities
70220Business consulting
73300Public relations and communication consultancy
77330Rental and leasing activities
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filings
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.