HORIZONS
ActiveSummary
HORIZONS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€27,208) and a net result of €3,746. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability49▼-26
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.6 against 0.62 in 2023; short-term debt: 159.3% and cash: 84% of total assets), and equity is negative.
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Signals
Six 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 →
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
-59.4%
Return on assets
8.2%
Age of the figures
21 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 37948 sector peers (2024).
NBB · sector comparisonPosition among 37948 sector peers
Solvency
better than 5%
← weakest
strongest →
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 14-06-2025, 47 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
47 d early
2023
35 d early
2022
35 d early
2021
32 d early
2020
50 d early
2019
34 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€27,208▲ 12.1%
2023 · -€30,954
Total assets
€45,843▼ 23.6%
2023 · €60,005
Net result
€3,746▼ 56.5%
2023 · €8,612
Working capital
-€29,384▲ 14.6%
2023 · -€34,394
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20202021202220232024
Operating result-€35,191▲ 26.7%€12,748-€28,229€11,849€7,187▼ 39.3%
Net result-€39,910below the sector's middle half▲ 21.5%€11,774within the sector's middle half-€29,885below the sector's middle half€8,612within the sector's middle half€3,746within the sector's middle half▼ 56.5%
Equity-€21,455below the sector's middle half-€9,681below the sector's middle half▲ 54.9%-€39,566below the sector's middle half▼ 309%-€30,954below the sector's middle half▲ 21.8%-€27,208below the sector's middle half▲ 12.1%
Total assets€89,469within the sector's middle half▼ 12.8%€75,884below the sector's middle half▼ 15.2%€48,599below the sector's middle half▼ 36.0%€60,005below the sector's middle half▲ 23.5%€45,843below the sector's middle half▼ 23.6%
Debt€110,924▲ 31.8%€85,565▼ 22.9%€88,164▲ 3.0%€90,959▲ 3.2%€73,051▼ 19.7%
Working capital-€24,537-€17,222▲ 29.8%-€43,184▼ 151%-€34,394▲ 20.4%-€29,384▲ 14.6%
Solvency-24.0%below the sector's middle half▼ 42.0pp-12.8%below the sector's middle half▲ 11.2pp-81.4%below the sector's middle half▼ 68.7pp-51.6%below the sector's middle half▲ 29.8pp-59.4%below the sector's middle half▼ 7.8pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
The operating result falls in 2024; 2024 is 39% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €45,843
Fixed assets
€2,189 ▼ 36.4%
Current assets
€43,654 ▼ 22.8%
Key figures and ratios
EBITDA
€8,438▼
2023 · €13,218
Cash flow
€4,997▼
2023 · €9,980
Current ratio
0.60▼
2023 · 0.62
Debt to equity
-2.68▲
2023 · -2.94
ROA
8.2%▼
2023 · 14.4%
Interest coverage
2.39▼
2023 · 4.56
Debt ≤ 1 year
€73,038▼
2023 · €90,959
Income taxes
€0▼
2023 · €338
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,799 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 3,799 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,482 | €1,795 | €2,733 | €1,368 | €1,251 | ▼ 8.6% |
| Other operating charges640/8 | - | €598 | €966 | €1,096 | €1,435 | ▲ 30.9% |
| Gross operating margin9900 | -€32,872 | €15,140 | -€24,531 | €14,314 | €9,874 | ▼ 31.0% |
| Operating profit (loss)9901 | -€35,191 | €12,748 | -€28,229 | €11,849 | €7,187 | ▼ 39.3% |
| Financial income75/76B | - | - | €681 | €0 | €95 | - |
| Recurring financial income75 | €289 | - | €681 | €0 | €95 | - |
| Financial charges65/66B | - | €614 | €2,008 | €2,899 | €3,537 | ▲ 22.0% |
| Recurring financial charges65 | €4,655 | €614 | €2,008 | €2,899 | €3,537 | ▲ 22.0% |
| Profit (loss) for the period before taxes9903 | -€39,557 | €12,134 | -€29,556 | €8,950 | €3,746 | ▼ 58.1% |
| Income taxes67/77 | €353 | €359 | €329 | €338 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€39,910 | €11,774 | -€29,885 | €8,612 | €3,746 | ▼ 56.5% |
| Profit (loss) for the period to be appropriated9905 | -€39,910 | €11,774 | -€29,885 | €8,612 | €3,746 | ▼ 56.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €89,469 | €75,884 | €48,599 | €60,005 | €45,843 | ▼ 23.6% |
| Fixed assets21/28 | €3,082 | €7,541 | €4,808 | €3,440 | €2,189 | ▼ 36.4% |
| Tangible fixed assets22/27 | €3,082 | €7,541 | €4,808 | €3,440 | €2,189 | ▼ 36.4% |
| Furniture and vehicles24 | - | €7,541 | €4,808 | €3,440 | €2,189 | ▼ 36.4% |
| Current assets29/58 | €86,388 | €68,343 | €43,790 | €56,565 | €43,654 | ▼ 22.8% |
| Amounts receivable within one year40/41 | €5,871 | €3,980 | €26,061 | €5,542 | €3,450 | ▼ 37.7% |
| Trade receivables40 | - | €1,817 | €24,219 | €5,489 | €2,399 | ▼ 56.3% |
| Other amounts receivable41 | - | €2,163 | €1,842 | €53 | €1,051 | ▲ 1,901% |
| Cash at bank and in hand54/58 | €78,604 | €63,286 | €16,208 | €45,767 | €38,491 | ▼ 15.9% |
| Deferred charges and accrued income490/1 | - | €1,076 | €1,521 | €5,257 | €1,713 | ▼ 67.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €89,469 | €75,884 | €48,599 | €60,005 | €45,843 | ▼ 23.6% |
| Equity10/15 | -€21,455 | -€9,681 | -€39,566 | -€30,954 | -€27,208 | ▲ 12.1% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €56,882 | €56,882 | €56,882 | €56,882 | €56,882 | = |
| Non-distributable reserves130/1 | - | €56,882 | €56,882 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Other1319 | - | €55,022 | €55,022 | - | - | - |
| Distributable reserves133 | - | - | - | €55,022 | €55,022 | = |
| Profit (loss) carried forward14 | -€90,737 | -€78,963 | -€108,848 | -€100,236 | -€96,490 | ▲ 3.7% |
| Amounts payable17/49 | €110,924 | €85,565 | €88,164 | €90,959 | €73,051 | ▼ 19.7% |
| Amounts payable within one year42/48 | €110,924 | €85,565 | €86,974 | €90,959 | €73,038 | ▼ 19.7% |
| Trade debts44 | - | - | €105 | €4,074 | €1,093 | ▼ 73.2% |
| Suppliers440/4 | - | - | €105 | €4,074 | €1,093 | ▼ 73.2% |
| Taxes, remuneration and social security45 | - | €29,762 | €5,466 | €0 | - | - |
| Taxes450/3 | - | - | €5,466 | €0 | - | - |
| Remuneration and social security454/9 | - | €29,762 | - | - | - | - |
| Other amounts payable47/48 | - | €55,803 | €81,404 | €86,885 | €71,944 | ▼ 17.2% |
| Accrued charges and deferred income492/3 | - | - | €1,190 | €0 | €13 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€39,910 | €11,774 | -€29,885 | €8,612 | €3,746 | ▼ 56.5% |
| + Depreciation and write-downs630 | €1,482 | €1,795 | €2,733 | €1,368 | €1,251 | ▼ 8.6% |
| Operating cash flow (approximation) | -€38,428 | €13,569 | -€27,152 | €9,980 | €4,997 | ▼ 49.9% |
| Investment in fixed assets (approximation) | - | -€6,254 | €0 | €0 | €0 | - |
| Change in cash | - | -€15,318 | -€47,078 | €29,558 | -€7,276 | ▼ 125% |
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
14-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €8,612
Net result €8,612 after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €11,774
Net result €11,774 after 2 loss-making years.
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 34 days late
2019
31-12
Financial
Weakest financial yearnet -€50,828
Net result drops to -€50,828, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
29-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
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, Lasne · 1 establishment unit since 2004
Ground area
1,996 m²
Building footprint
193 m²
Parcel 25024B0236/00F000, Wallonia. Linked by address, not a title deed.
1 establishment unit
HORIZONS
since 20042.142.228.766
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25024B0236/00F000 | Wallonia | 1,996 m² | 1 · 193 m² | - |
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 82,642 companies in sector 70200 we hold annual accounts for 52,626. 29,750 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
Founded30-08-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0867000747
Also
9925:BE0867000747
Registered
02-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.