Checked.be
Active
BE 0477.008.683Private limited company
HORIZON
Stationsstraat 20 ·9900 Eeklo, Belgium· 24 yrs active
Sector: General medical practice
(86210)
Conclusion
HORIZON has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.02M and a net result of €223k. Equity is shrinking by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 65% of 16012 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €1.02M |
| Net result | €223k |
| Staff (FTE) | 2.1 |
| Better than sector | 65% |
Financial profile
90
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
93
Profitability
100
Solvency
100
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2002, 24 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
93
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€95k
estimate, not credit advice
Score history
68
2021
86
2022
94
2023
98
2024
93
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 4.57 (≥ 1.5)
+10
Quick ratio
Quick ratio 4.57 (≥ 1.0)
+5
Leverage
Debt/equity 0.29 (< 1.0)
+10
Profitability
ROE 22% (≥ 10%)
+10
Interest coverage
Interest coverage 16.4× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 10-12-2025 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~4.2%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 86, Human health activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 77.3% | 63.4% | |
| Net result | €223k | €62k | |
| Equity | €1.02M | €132k | |
| Gross operating margin | €441k | €116k | |
| Staff costs | €76k | €29k |
€357k
-29.0%
21-25
€223k
-34.0%
21-25
€239k
-31.8%
21-25
€1.32M
+17.1%
21-25
€1.02M
+28.0%
21-25
€997k
+35.1%
21-25
2
-8.7%
21-25
€76k
+2.6%
21-25
€106k
-32.0%
21-25
€299k
-9.1%
21-25
€279k
-15.1%
21-25
4.57
+40.9%
21-25
4.57
+40.9%
21-25
77.3%
+9.3%
21-25
0.29
-29.0%
21-25
21.9%
-48.4%
21-25
16.9%
-43.7%
21-25
16.37
-93.6%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €357k | €503k | €186k | €134k | €151k |
| Net profit | €223k | €338k | €90k | €58k | €76k |
| Cash flow | €239k | €351k | €145k | €113k | €126k |
| Staff costs | €76k | €75k | €77k | €62k | - |
| Income taxes | €106k | €156k | €42k | €24k | €31k |
| Dividends | - | - | - | - | - |
| Total assets | €1.32M | €1.12M | €1.38M | €1.26M | €1.23M |
| Equity | €1.02M | €796k | €1.30M | €1.21M | €1.15M |
| Debt | €299k | €329k | €85k | €54k | €84k |
| of which ≤ 1y | €279k | €328k | €85k | €54k | €84k |
| of which > 1y | - | - | - | - | - |
| Working capital | €997k | €737k | €992k | €849k | €763k |
| Employees (FTE) | 2.1 | 2.3 | 3.2 | 2.9 | 1.1 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 4.57 | 3.25 | 12.62 | 16.62 | 10.08 |
| Quick ratio | 4.57 | 3.25 | 12.62 | 16.62 | 10.08 |
| Working capital ratio | 75.6% | 65.6% | 71.8% | 67.3% | 61.9% |
| Solvency | 77.3% | 70.8% | 93.8% | 95.7% | 93.2% |
| Debt / equity | 0.29 | 0.41 | 0.07 | 0.05 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 16.37 | 253.93 | 64.99 | 58.78 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 16.9% | 30.0% | 6.5% | 4.6% | 6.2% |
| ROE | 21.9% | 42.4% | 6.9% | 4.8% | 6.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.32M | €1.12M | €1.38M | €1.26M | €1.23M |
| Fixed assets | 21/28 | €42k | €59k | €305k | €359k | €386k |
| Tangible fixed assets | 22/27 | €42k | €59k | €305k | €358k | €386k |
| Financial fixed assets | 28 | €314 | €314 | €314 | €314 | €314 |
| Current assets | 29/58 | €1.28M | €1.07M | €1.08M | €903k | €847k |
| Amounts receivable within one year | 40/41 | €11k | €16k | €13k | - | - |
| Investments | 50/53 | €1.12M | €777k | €735k | €636k | €591k |
| Cash & bank | 54/58 | €144k | €240k | €245k | €199k | €185k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.32M | €1.12M | €1.38M | €1.26M | €1.23M |
| Equity | 10/15 | €1.02M | €796k | €1.30M | €1.21M | €1.15M |
| Contributions / capital | 10/11 | €19k | €19k | €858k | €858k | - |
| Reserves | 13 | €1.00M | €777k | €440k | €350k | €292k |
| Amounts payable | 17/49 | €299k | €329k | €85k | €54k | €84k |
| Amounts payable within one year | 42/48 | €279k | €328k | €85k | €54k | €84k |
| Trade debts payable within one year | 44 | €4k | €8k | €26k | €17k | €21k |
| Income statement | ||||||
| Gross operating margin | 9900 | €441k | €582k | €267k | €201k | €215k |
| Operating result | 9901 | €341k | €490k | €131k | €79k | €101k |
| Financial income | 75 | €10k | €6k | €4k | €6k | €9k |
| Financial charges | 65 | €22k | €2k | €3k | €2k | €2k |
| Result before taxes | 9903 | €329k | €493k | €132k | €82k | €107k |
| Income taxes | 67/77 | €106k | €156k | €42k | €24k | €31k |
| Net result for the period | 9904 | €223k | €338k | €90k | €58k | €76k |
| Result to be appropriated | 9905 | €223k | €338k | €90k | €58k | €76k |
Legal Structure
| NACE primary | General medical practice(86210) |
| Legal form | Private limited company(610) |
| Incorporation | 28-02-2002 |
| Status | Active |
| Postal code | 9900 |
Establishment units
HORIZON
since 20082.168.175.771
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43352E0989/00E000 | Flanders | 431 m² | 1 · 226 m² | 14.9 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2025
10-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 40 days late
31-03
Financial
Equity above €1MEq €1.02M ▲28%
5 profitable years in a row build equity to €1.02M.
2024
10-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 40 days late
31-03
Financial
Highest result since 2021net €338k ▲276%
Operating result €490k, net result €338k, both a record.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
04-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Weakest financial yearnet €58k ▼23.3%
Net result drops to €58k, the lowest in the series; recovery starts the following year.
2021
04-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 4 days late
2020
09-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 39 days late
2019
05-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 5 days late
2018
12-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
03-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
General medical practice86210
Names & trade names
| Legal nameNL | HORIZON |
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