Horizon Development
ActiveSummary
Horizon Development has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €116,386 and a net result of €114,052. Equity is growing by ~30.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 17213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency81▼-19
Growth78=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 5.8 against 3.92 in 2024; short-term debt: 16.1% and cash: 77.3% of total assets), and 44.3% of the assets are financed with debt.
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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
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← 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
55.7%
Return on assets
54.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
31 d late
2024
23 d early
2023
7 d early
2022
22 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 8 August (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€116,386▼ 47.7%
2024 · €222,334
Total assets
€209,125▼ 28.5%
2024 · €292,677
Net result
€114,052▲ 31.2%
2024 · €86,946
Working capital
€161,894▼ 21.2%
2024 · €205,320
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€91,702-€78,896▼ 14.0%€114,099▲ 44.6%€147,293▲ 29.1%
Net result€71,389above the sector's middle half-€61,587above the sector's middle half▼ 13.7%€86,946above the sector's middle half▲ 41.2%€114,052above the sector's middle half▲ 31.2%
Equity€73,889within the sector's middle half-€135,476within the sector's middle half▲ 83.4%€222,334above the sector's middle half▲ 64.1%€116,386within the sector's middle half▼ 47.7%
Total assets€117,997within the sector's middle half-€234,305within the sector's middle half▲ 98.6%€292,677above the sector's middle half▲ 24.9%€209,125within the sector's middle half▼ 28.5%
Debt€44,108-€98,829▲ 124%€70,342▼ 28.8%€33,725▼ 52.1%
Working capital€68,190within the sector's middle half-€117,791within the sector's middle half▲ 72.7%€205,320above the sector's middle half▲ 74.3%€161,894above the sector's middle half▼ 21.2%
Solvency62.6%within the sector's middle half-57.8%within the sector's middle half▼ 4.8pp76.0%within the sector's middle half▲ 18.1pp55.7%within the sector's middle half▼ 20.3pp
Current ratio2.55within the sector's middle half-2.19within the sector's middle half▼ 0.353.92within the sector's middle half▲ 1.735.80above the sector's middle half▲ 1.88
Return on assets (ROA)60.5%above the sector's middle half-26.3%within the sector's middle half▼ 34.2pp29.7%within the sector's middle half▲ 3.4pp54.5%above the sector's middle half▲ 24.8pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 29% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €209,125
Fixed assets
€13,506 ▼ 20.6%
Current assets
€195,619 ▼ 29.0%
Equity and liabilities €209,125
Equity
€116,386 ▼ 47.7%
Provisions
€59,013
Debt
€33,725 ▼ 52.1%
Debt's share of the balance-sheet total falls from 24.0% to 16.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€150,801▲
2024 · €117,827
Cash flow
€117,560▲
2024 · €90,675
Debt to equity
0.29▼
2024 · 0.32
ROE
98.0%▲
2024 · 39.1%
Interest coverage
128.14▲
2024 · 92.37
Debt ≤ 1 year
€33,725▼
2024 · €70,342
Income taxes
€34,375▲
2024 · €25,883
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 39,276 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €87 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €401 | €2,351 | €3,729 | €3,508 | ▼ 5.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €59,013 | - |
| Other operating charges640/8 | €174 | €533 | €1,908 | €1,222 | ▼ 35.9% |
| Gross operating margin9900 | €92,277 | €81,780 | €119,736 | €211,037 | ▲ 76.3% |
| Operating profit (loss)9901 | €91,702 | €78,896 | €114,099 | €147,293 | ▲ 29.1% |
| Financial income75/76B | €0 | €975 | €6 | €2,311 | ▲ 38,868% |
| Recurring financial income75 | €0 | €975 | €6 | €2,311 | ▲ 38,868% |
| Financial charges65/66B | €1,406 | €1,128 | €1,276 | €1,177 | ▼ 7.7% |
| Recurring financial charges65 | €1,406 | €1,128 | €1,276 | €1,177 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €90,297 | €78,743 | €112,829 | €148,427 | ▲ 31.6% |
| Income taxes67/77 | €18,908 | €17,156 | €25,883 | €34,375 | ▲ 32.8% |
| Profit (loss) for the period9904 | €71,389 | €61,587 | €86,946 | €114,052 | ▲ 31.2% |
| Profit (loss) for the period to be appropriated9905 | €71,389 | €61,587 | €86,946 | €114,052 | ▲ 31.2% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €117,997 | €234,305 | €292,677 | €209,125 | ▼ 28.5% |
| Fixed assets21/28 | €5,698 | €17,685 | €17,014 | €13,506 | ▼ 20.6% |
| Tangible fixed assets22/27 | €5,698 | €17,685 | €17,014 | €13,506 | ▼ 20.6% |
| Plant, machinery and equipment23 | €1,600 | €1,261 | €922 | €583 | ▼ 36.8% |
| Furniture and vehicles24 | €4,098 | €3,528 | €1,678 | €134 | ▼ 92.0% |
| Other tangible fixed assets26 | - | €12,896 | €14,414 | €12,789 | ▼ 11.3% |
| Current assets29/58 | €112,298 | €216,620 | €275,663 | €195,619 | ▼ 29.0% |
| Amounts receivable after more than one year29 | - | €25,975 | €25,975 | €1,374 | ▼ 94.7% |
| Other amounts receivable291 | - | €25,975 | €25,975 | €1,374 | ▼ 94.7% |
| Amounts receivable within one year40/41 | €18,513 | €51,136 | €24,124 | €32,590 | ▲ 35.1% |
| Trade receivables40 | €18,513 | €51,136 | €24,124 | €32,590 | ▲ 35.1% |
| Cash at bank and in hand54/58 | €92,500 | €139,300 | €218,624 | €161,587 | ▼ 26.1% |
| Deferred charges and accrued income490/1 | €1,285 | €209 | €6,939 | €67 | ▼ 99.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €117,997 | €234,305 | €292,677 | €209,125 | ▼ 28.5% |
| Equity10/15 | €73,889 | €135,476 | €222,334 | €116,386 | ▼ 47.7% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €71,389 | €132,976 | €219,834 | €113,886 | ▼ 48.2% |
| Provisions and deferred taxes16 | - | - | - | €59,013 | - |
| Provisions for liabilities and charges160/5 | - | - | - | €59,013 | - |
| Other liabilities and charges164/5 | - | - | - | €59,013 | - |
| Amounts payable17/49 | €44,108 | €98,829 | €70,342 | €33,725 | ▼ 52.1% |
| Amounts payable within one year42/48 | €44,108 | €98,829 | €70,342 | €33,725 | ▼ 52.1% |
| Trade debts44 | €10,600 | €38,098 | €6,756 | €661 | ▼ 90.2% |
| Suppliers440/4 | €10,600 | €38,098 | €6,756 | €661 | ▼ 90.2% |
| Taxes, remuneration and social security45 | €31,815 | €54,571 | €62,167 | €31,855 | ▼ 48.8% |
| Taxes450/3 | €31,815 | €54,571 | €62,167 | €31,855 | ▼ 48.8% |
| Other amounts payable47/48 | €1,693 | €6,160 | €1,419 | €1,209 | ▼ 14.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,389 | €61,587 | €86,946 | €114,052 | ▲ 31.2% |
| + Depreciation and write-downs630 | €401 | €2,351 | €3,729 | €3,508 | ▼ 5.9% |
| Operating cash flow (approximation) | €71,790 | €63,938 | €90,675 | €117,560 | ▲ 29.7% |
| Investment in fixed assets (approximation) | - | -€14,337 | -€3,058 | €0 | ▲ 100% |
| Change in cash | - | €46,801 | €79,324 | -€57,037 | ▼ 172% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2022net €114,052 ▲31.2%
Operating result €147,293, net result €114,052, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200,000Eq €222,334 ▲64.1%
3 profitable years in a row build equity to €222,334.
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €61,587 ▼13.7%
Net result drops to €61,587, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100,000Eq €135,476 ▲83.4%
2 profitable years in a row build equity to €135,476.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Wavre · 1 establishment unit since 2021
Ground area
286 m²
Building footprint
104 m²
Volume, LiDAR
673 m³
Parcel 25112N0094/00G002, Wallonia · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Horizon Development
since 20212.325.259.650
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112N0094/00G002 | Wallonia | 286 m² | 1 · 104 m² | 9.3 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.
Recognitions · licences · registrations
Legal Entity Identifier
9845000A4X7AU3699B16
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Of 30,009 companies in sector 62200 we hold annual accounts for 18,399. 15,514 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
Founded03-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
62100Computer programming
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0778261187
Registered
26-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.