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HORIZON

Active
Non-profit associationfounded 198640 yrs activeKapelstraat 88, 8450 Bredene, BelgiumKBO/BCE: BE 0432.008.801

HORIZON has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.14M and a net result of €86k. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 60% of 669 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).

Checked score

Score 2024
74 / 100
Healthy▼ -20 vs 2022
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2022
Profitability20▼-80
Solvency86▼-4
Growth78=
Stability100
Bankruptcy probability, 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity ample (current ratio 2.42 against 2.93 in 2022), but 58.4% 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 riskneutral
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
elevated failure risk from 2 to 8 years 40 years 0 50 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024
Solvency, return and age of the figures
Solvency
41.6%
Return on assets
1.7%
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 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies more bankruptcies →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-11-2025, 110 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
110 d late
2022
114 d late
2021
137 d late
2020
131 d late
2019
122 d late
2018
89 d late
← before the deadline after the deadline →
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity
€2.14M▲ 12.7%
2022 · €1.90M
2018: €1.80M 2019: €1.75M 2020: €1.53M 2021: €1.49M 2022: €1.90M
2018 → 2024
Total assets
€5.15M▲ 22.0%
2022 · €4.22M
2018: €2.90M 2019: €4.23M 2020: €4.04M 2021: €3.96M 2022: €4.22M
2018 → 2024
Net result
€86k▼ 83.6%
2022 · €524k
2018: €-212k 2019: €-156k 2020: €-94k 2021: €34k 2022: €524k
2018 → 2024
Working capital
€2.19M▲ 45.8%
2022 · €1.50M
2018: €736k 2019: €638k 2020: €860k 2021: €1.25M 2022: €1.50M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20192020202120222024Trend
Equity€1.75M-€1.53M▼ 12.3%€1.49M▼ 2.8%€1.90M▲ 27.6%€2.14M▲ 12.7%
Operating result€-30k-€-89k▼ 195%€27k€565k▲ 2,024%€488k▼ 13.7%
Net result€-156k-€-94k▲ 39.7%€34k€524k▲ 1,439%€86k▼ 83.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
€-200k€0€200k€400k€600kOperating result 2019: €-30k€-30kNet result 2019: €-156k€-156kOperating result 2020: €-89k€-89kNet result 2020: €-94k€-94kOperating result 2021: €27k€27kNet result 2021: €34k€34kOperating result 2022: €565k€565kNet result 2022: €524k€524kOperating result 2024: €488k€488kNet result 2024: €86k€86k20192020202120222024
The operating result falls in 2024; 2024 is 14% below 2022.
Balance-sheet composition
2024 in colour, 2022 as the grey bar beneath
Assets €5.15M
Fixed assets €1.42M▼ 27.0%
Current assets €3.73M▲ 63.9%
Equity and liabilities €5.15M
Equity €2.14M▲ 12.7%
Debt €3.01M▲ 29.7%
The debt ratio rises from 54.9% to 58.4%: debt grows faster than equity.
Key figures and ratios
2024 value · change against 2022
EBITDA
€751k
2022 · €928k
Cash flow
€349k
2022 · €887k
Solvency
41.6%
2022 · 45.1%
Current ratio
2.42
2022 · 2.93
Quick ratio
2.42
2022 · 2.93
Debt / equity
1.40
2022 · 1.22
ROE
4.0%
2022 · 27.5%
ROA
1.7%
2022 · 12.4%
Interest coverage
2.07
2022 · 43.37
Debt
€3.01M
2022 · €2.32M
Debt ≤ 1 year
€1.54M
2022 · €775k
Debt > 1 year
€620k
2022 · €1.02M
Income taxes
€116k
2022 · €20k
Staff costs
€778k
2022 · €611k
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 2022
Balance sheet Code20222024
Assets
Total assets20/58€4.22M€5.15M
Fixed assets21/28€1.95M€1.42M
Intangible fixed assets21-€45k
Tangible fixed assets22/27€1.94M€1.38M
Plant, machinery and equipment23€87k-
Furniture and vehicles24€55k€23k
Other tangible fixed assets26€1.80M€1.35M
Financial fixed assets28€2k€0
Current assets29/58€2.28M€3.73M
Amounts receivable after more than one year29€950k€0
Other amounts receivable291€950k€0
Amounts receivable within one year40/41€1.17M€2.31M
Trade receivables40€510k€331k
Other amounts receivable41€661k€1.97M
Cash at bank and in hand54/58€136k€72k
Deferred charges and accrued income490/1€19k€1.35M
Equity and liabilities
Total equity and liabilities10/49€4.22M€5.15M
Equity10/15€1.90M€2.14M
Profit (loss) carried forward14€1.44M€1.87M
Investment grants15€466k€270k
Amounts payable17/49€2.32M€3.01M
Amounts payable after more than one year17€1.02M€620k
Financial debts170/4€1.02M€620k
Amounts payable within one year42/48€775k€1.54M
Current portion of amounts payable after more than one year42€173k€200k
Trade debts44€411k€955k
Suppliers440/4€411k€955k
Taxes, remuneration and social security45€162k€386k
Taxes450/3€101k€286k
Remuneration and social security454/9€61k€101k
Accrued charges and deferred income492/3€523k€844k
Income statement Code20222024
Non-recurring operating income76A-€0
Remuneration, social security and pensions62€611k€778k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€363k€263k
Other operating charges640/8€6k€10k
Gross operating margin9900€1.55M€1.54M
Operating profit (loss)9901€565k€488k
Financial income75/76B€13€76k
Recurring financial income75€13€76k
Financial charges65/66B€21k€363k
Recurring financial charges65€21k€363k
Profit (loss) for the period before taxes9903€544k€202k
Income taxes67/77€20k€116k
Profit (loss) for the period9904€524k€86k
Profit (loss) for the period to be appropriated9905€524k€86k
Appropriation of the result
Profit (loss) to be appropriated9906€1.44M€1.87M
Profit (loss) brought forward from the previous period14P€913k€1.79M
Social balance
Average headcount (FTE)908710.112.2

The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

2025
18-11
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 110 days late
2024
31-12
Financial Equity above €2MEq €2.14M ▲12.7%
3 profitable years in a row build equity to €2.14M.
2023
22-11
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema · 114 days late
2022
31-12
Financial Highest result since 2018net €524k ▲1439%
Operating result €565k, net result €524k, both a record.
15-12
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema · 137 days late
2021
31-12
Financial Back to profitnet €34k
Net result €34k after 3 loss-making years.
09-12
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema · 131 days late
2020
30-11
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 122 days late
2019
28-10
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema · 89 days late
2018
14-06
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
25-07
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema
25-07
NBB filing Annual accounts filed
fiscal year 2014 · abbreviated schema · 360 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors
5 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, Bredene · 1 establishment unit since 2006
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.

Kapelstraat 888450 Bredene
Ground area
2.7 ha
Building footprint
2,226 m²
Volume, LiDAR
14,051 m³
Parcel 35302C0009/00H000, Flanders · tallest building 12.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HORIZON
Kapelstraat 88, 8450 BredeneNACE 55401
since 20062.157.598.813
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
35302C0009/00H000
ProtectedMonumentVakantiehome Home des Enfants du HainautSource ↗
Flanders 2.7 ha 1 · 2,226 m² 12.6 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Similar companies · same sector, comparable size

Of 87 companies in sector 55201 we hold annual accounts for 37. 23 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification
Legal formNon-profit association
Founded07-02-1986
Fiscal year end31-12
Activities, NACEBEL
55201Accommodation
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers

Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.