horizen
ActiveSummary
horizen has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.34M and a net result of €-131k. Equity is shrinking by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 88% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability12▼-1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity ample (current ratio 18.13 against 11.22 in 2023; short-term debt: 5.4% and cash: 0% of total assets), and 9.7% of the assets are financed with debt.
Credit check 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
90.3%
Return on assets
-5%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-131k
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 14-07-2025, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
17 d early
2023
30 d early
2022
22 d late
2021
19 d early
2020
75 d early
2019
112 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€2.34M▼ 5.3%
2023 · €2.47M
2018: €41k
2019: €-160k▼ -491% vs 2018lowest in 7 years
2020: €2.92M▲ +1920% vs 2019highest in 7 years
2021: €2.74M▼ -6.0% vs 2020
2022: €2.60M▼ -5.3% vs 2021
2023: €2.47M▼ -4.9% vs 2022
2024: €2.34M▼ -5.3% vs 2023
2018 → 2024
Total assets
€2.59M▼ 8.2%
2023 · €2.82M
2018: €1.04M
2019: €1.02M▼ -1.8% vs 2018lowest in 7 years
2020: €3.13M▲ +205% vs 2019highest in 7 years
2021: €3.02M▼ -3.5% vs 2020
2022: €2.94M▼ -2.6% vs 2021
2023: €2.82M▼ -3.9% vs 2022
2024: €2.59M▼ -8.2% vs 2023
2018 → 2024
Net result
€-131k▼ 2.7%
2023 · €-127k
2018: €363k
2019: €-201k▼ -156% vs 2018lowest in 7 years
2020: €3.08M▲ +1629% vs 2019highest in 7 years
2021: €-175k▼ -106% vs 2020
2022: €-146k▲ +16.4% vs 2021
2023: €-127k▲ +13.2% vs 2022
2024: €-131k▼ -2.7% vs 2023
2018 → 2024
Working capital
€2.42M▼ 4.6%
2023 · €2.53M
2018: €-148k
2019: €-427k▼ -188% vs 2018lowest in 7 years
2020: €2.89M▲ +776% vs 2019highest in 7 years
2021: €2.72M▼ -5.8% vs 2020
2022: €2.57M▼ -5.5% vs 2021
2023: €2.53M▼ -1.5% vs 2022
2024: €2.42M▼ -4.6% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2.92M-€2.74M▼ 6.0%€2.60M▼ 5.3%€2.47M▼ 4.9%€2.34M▼ 5.3%
2020: €2.92Mhighest in 5 years
2021: €2.74M▼ -6.0% vs 2020
2022: €2.60M▼ -5.3% vs 2021
2023: €2.47M▼ -4.9% vs 2022
2024: €2.34M▼ -5.3% vs 2023lowest in 5 years
Operating result€-504k-€-181k▲ 64.2%€-157k▲ 13.2%€-136k▲ 13.3%€-148k▼ 8.9%
2020: €-504klowest in 5 years
2021: €-181k▲ +64.2% vs 2020
2022: €-157k▲ +13.2% vs 2021
2023: €-136k▲ +13.3% vs 2022highest in 5 years
2024: €-148k▼ -8.9% vs 2023
Net result€3.08M-€-175k€-146k▲ 16.4%€-127k▲ 13.2%€-131k▼ 2.7%
2020: €3.08Mhighest in 5 years
2021: €-175k▼ -106% vs 2020lowest in 5 years
2022: €-146k▲ +16.4% vs 2021
2023: €-127k▲ +13.2% vs 2022
2024: €-131k▼ -2.7% vs 2023
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 €148k in 2024 against €136k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.59M
Fixed assets
€34k ▼ 19.4%
Current assets
€2.56M ▼ 8.0%
Equity and liabilities €2.59M
Equity
€2.34M ▼ 5.3%
Debt
€253k ▼ 28.6%
Debt's share of the balance-sheet total falls from 12.5% to 9.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-137k▼
2023 · €-126k
Cash flow
€-119k▼
2023 · €-117k
Current ratio
18.13▲
2023 · 11.22
Debt to equity
0.11▼
2023 · 0.14
ROE
-5.6%▼
2023 · -5.1%
ROA
-5.0%▼
2023 · -4.5%
Interest coverage
-21.91▼
2023 · -14.86
Debt ≤ 1 year
€141k▼
2023 · €248k
Debt > 1 year
€100k=
2023 · €100k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 45 lines
Balance sheet
Code20232024
Assets
Total assets20/58€2.82M€2.59M▼
Fixed assets21/28€43k€34k▼
Tangible fixed assets22/27€30k€22k▼
Plant, machinery and equipment23€553€299▼
Furniture and vehicles24€25k€19k▼
Other tangible fixed assets26€5k€3k▼
Financial fixed assets28€12k€12k=
Current assets29/58€2.78M€2.56M▼
Amounts receivable within one year40/41€2.46M€2.56M▲
Trade receivables40€7k€24k▲
Other amounts receivable41€2.46M€2.53M▲
Cash at bank and in hand54/58€315k€150▼
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€2.82M€2.59M▼
Equity10/15€2.47M€2.34M▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€2.45M€2.32M▼
Amounts payable17/49€354k€253k▼
Amounts payable after more than one year17€100k€100k=
Financial debts170/4€100k€100k=
Amounts payable within one year42/48€248k€141k▼
Current portion of amounts payable after more than one year42€13k€0▼
Financial debts43€0€4k▲
Credit institutions430/8€0€4k▲
Trade debts44€10k€7k▼
Suppliers440/4€10k€7k▼
Other amounts payable47/48€226k€129k▼
Accrued charges and deferred income492/3€6k€11k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€11k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€-125k€-136k▼
Operating profit (loss)9901€-136k€-148k▼
Financial income75/76B€17k€24k▲
Recurring financial income75€17k€24k▲
Financial charges65/66B€8k€6k▼
Recurring financial charges65€8k€6k▼
Profit (loss) for the period before taxes9903€-127k€-131k▼
Profit (loss) for the period9904€-127k€-131k▼
Profit (loss) for the period to be appropriated9905€-127k€-131k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.45M€2.32M▼
Profit (loss) brought forward from the previous period14P€2.58M€2.45M▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €-12 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €8k | €9k | €10k | €11k | ▲ 13.8% |
| Other operating charges640/8 | - | €988 | €1k | €1k | €1k | ▲ 10.0% |
| Non-recurring operating charges66A | - | €41k | - | - | - | - |
| Gross operating margin9900 | €-484k | €-131k | €-146k | €-125k | €-136k | ▼ 8.5% |
| Operating profit (loss)9901 | €-504k | €-181k | €-157k | €-136k | €-148k | ▼ 8.9% |
| Financial income75/76B | - | €9k | €13k | €17k | €24k | ▲ 36.6% |
| Recurring financial income75 | €30k | €9k | €13k | €17k | €24k | ▲ 36.6% |
| Financial charges65/66B | - | €3k | €3k | €8k | €6k | ▼ 26.4% |
| Recurring financial charges65 | €19k | €3k | €3k | €8k | €6k | ▼ 26.4% |
| Profit (loss) for the period before taxes9903 | €3.08M | €-175k | €-146k | €-127k | €-131k | ▼ 2.7% |
| Profit (loss) for the period9904 | €3.08M | €-175k | €-146k | €-127k | €-131k | ▼ 2.7% |
| Profit (loss) for the period to be appropriated9905 | €3.08M | €-175k | €-146k | €-127k | €-131k | ▼ 2.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.13M | €3.02M | €2.94M | €2.82M | €2.59M | ▼ 8.2% |
| Fixed assets21/28 | €31k | €48k | €39k | €43k | €34k | ▼ 19.4% |
| Tangible fixed assets22/27 | €18k | €36k | €26k | €30k | €22k | ▼ 27.3% |
| Plant, machinery and equipment23 | - | €502 | €337 | €553 | €299 | ▼ 46.0% |
| Furniture and vehicles24 | - | €26k | €19k | €25k | €19k | ▼ 23.5% |
| Other tangible fixed assets26 | - | €9k | €7k | €5k | €3k | ▼ 44.3% |
| Financial fixed assets28 | €12k | €12k | €12k | €12k | €12k | = |
| Current assets29/58 | €3.10M | €2.97M | €2.90M | €2.78M | €2.56M | ▼ 8.0% |
| Amounts receivable within one year40/41 | €2.53M | €2.92M | €2.89M | €2.46M | €2.56M | ▲ 3.7% |
| Trade receivables40 | - | €40k | - | €7k | €24k | ▲ 221% |
| Other amounts receivable41 | - | €2.88M | €2.89M | €2.46M | €2.53M | ▲ 3.1% |
| Cash at bank and in hand54/58 | €562k | €51k | €8k | €315k | €150 | ▼ 100.0% |
| Deferred charges and accrued income490/1 | - | €2k | €137 | €2k | €2k | ▼ 7.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.13M | €3.02M | €2.94M | €2.82M | €2.59M | ▼ 8.2% |
| Equity10/15 | €2.92M | €2.74M | €2.60M | €2.47M | €2.34M | ▼ 5.3% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €2.90M | €2.72M | €2.58M | €2.45M | €2.32M | ▼ 5.3% |
| Amounts payable17/49 | €207k | €274k | €340k | €354k | €253k | ▼ 28.6% |
| Amounts payable after more than one year17 | - | €26k | €13k | €100k | €100k | = |
| Financial debts170/4 | - | €26k | €13k | €100k | €100k | = |
| Amounts payable within one year42/48 | €207k | €248k | €328k | €248k | €141k | ▼ 43.1% |
| Current portion of amounts payable after more than one year42 | - | €13k | €13k | €13k | €0 | ▼ 100% |
| Financial debts43 | - | - | €5k | €0 | €4k | - |
| Credit institutions430/8 | - | - | €5k | €0 | €4k | - |
| Trade debts44 | €56k | €60k | €22k | €10k | €7k | ▼ 24.6% |
| Suppliers440/4 | - | €60k | €22k | €10k | €7k | ▼ 24.6% |
| Other amounts payable47/48 | - | €174k | €287k | €226k | €129k | ▼ 42.7% |
| Accrued charges and deferred income492/3 | - | - | - | €6k | €11k | ▲ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3.08M | €-175k | €-146k | €-127k | €-131k | ▼ 2.7% |
| + Depreciation and write-downs630 | €3k | €8k | €9k | €10k | €11k | ▲ 13.8% |
| Operating cash flow (approximation) | €3.08M | €-167k | €-137k | €-117k | €-119k | ▼ 1.8% |
| Investment in fixed assets (approximation) | - | €-25k | €0 | €-14k | €-3k | ▲ 78.3% |
| Change in cash | - | €-511k | €-42k | €307k | €-315k | ▼ 203% |
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
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €3.08M
Net result €3.08M after one loss-making year.
31-12
Financial
Liquidity times 25current ratio 14.94
Current ratio from 0.59 to 14.94; short-term debt falls from €1.04M to €207k.
31-12
Financial
Equity above €2MEq €2.92M
Equity rises from €-160k to €2.92M.
20-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 112 days late
2019
31-12
Financial
Weakest financial yearnet €-201k
Net result drops to €-201k, the lowest in the series; recovery starts the following year.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
15-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 137 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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 2004
Ground area
1.4 ha
Building footprint
8,125 m²
Volume, LiDAR
60,080 m³
Parcel 44807G0227/00V002, Flanders · tallest building 17.3 m, ±2 floors. Linked by address, not a title deed.
36
companies at this address
See who is registered here
1 establishment unit
horizen
since 20042.143.655.359
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0227/00V002 | Flanders | 1.4 ha | 1 · 8,125 m² | 17.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 18,422 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-11-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.