HORREA
The computed 12-month bankruptcy probability of HORREA is 1.6% (moderate). The 2025 annual accounts show negative equity (€-1.29M) and a net result of €-474k. Equity is shrinking by ~65.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 200 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-1.29M |
| Net result | €-474k |
| Better than sector | 5% |
| Active | 5 yrs |
Mixed profile: strong on profitability, weaker on health.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
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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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -19.4% | 28.9% | |
| Net result | €-474k | €9k | |
| Equity | €-1.29M | €456k | |
| Gross operating margin | €257k | €79k | |
| Employees (FTE) | 0.0 | 1.2 |
| Fiscal year | 2025 |
|---|---|
| Revenue | - |
| EBITDA | €204k |
| Net profit | €-474k |
| Cash flow | €-162k |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €6.64M |
| Equity | €-1.29M |
| Debt | €7.93M |
| of which ≤ 1y | €3.07M |
| of which > 1y | €4.56M |
| Working capital | €-2.85M |
| Employees (FTE) | 0.0 |
| 2025 | |
|---|---|
| Current ratio | 0.07 |
| Quick ratio | 0.07 |
| Working capital ratio | -42.9% |
| Solvency | -19.4% |
| Debt / equity | -6.15 |
| Long-term debt ratio | -3.54 |
| Interest coverage | 0.56 |
| Gross margin | - |
| Net margin | - |
| ROA | -7.1% |
| ROE | 36.7% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €6.64M |
| Fixed assets | 21/28 | €6.43M |
| Tangible fixed assets | 22/27 | €6.43M |
| Financial fixed assets | 28 | €1k |
| Current assets | 29/58 | €213k |
| Amounts receivable within one year | 40/41 | €46k |
| Cash & bank | 54/58 | €59k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €6.64M |
| Equity | 10/15 | €-1.29M |
| Contributions / capital | 10/11 | €5k |
| Accumulated profits (losses) | 14 | €-1.29M |
| Amounts payable | 17/49 | €7.93M |
| Amounts payable after one year | 17 | €4.56M |
| Amounts payable within one year | 42/48 | €3.07M |
| Trade debts payable within one year | 44 | €192k |
| Income statement | ||
| Gross operating margin | 9900 | €257k |
| Operating result | 9901 | €-108k |
| Financial income | 75 | €40 |
| Financial charges | 65 | €366k |
| Result before taxes | 9903 | €-474k |
| Net result for the period | 9904 | €-474k |
| Result to be appropriated | 9905 | €-474k |
| NACE primary | Real estate rental(68203) |
| Legal form | Private limited company(610) |
| Incorporation | 04-12-2020 |
| Status | Active |
| Postal code | 1050 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0305/00Y027 | Brussels | 1.7 ha | 1 · 7,305 m² | 33.4 m · 2 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
22-12-2023 Registered office moved to Ixelles
- Rue du Mail 50 1050 Ixelles
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Rue du Mail 50\n1050 Ixelles",
"city": "Ixelles",
"region": "brussels_hoofdstedelijk_gewest",
"street": "Rue du Mail",
"country": "BE",
"postcode": "1050",
"box_number": null,
"street_number": "50",
"locality_suffix": null
},
"old_address": null,
"effective_date": null,
"evidence_quote": "L\u0027assembl\u00E9e d\u00E9cide de transf\u00E9rer le si\u00E8ge social de la soci\u00E9t\u00E9, avec effet imm\u00E9diat, \u00E0 l\u0027adresse suivante :",
"region_changed": false,
"is_statute_change": true,
"nationality_change": false,
"old_address_source": "inferred",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "immediate",
"statutaire_vs_werkelijke": null,
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
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"is_associated": false
},
"act_meta": {
"language": "fr",
"pub_date": null,
"filing_date": "2023-12-14",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decision": {
"body": "algemene_vergadering",
"date": "2023-12-05",
"unanimous": null
},
"subject_company": {
"kbo": "0759.469.814",
"name_full": "HORREA",
"legal_form": "SRL",
"_kbo_filled_from_list": true
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "Serge Solau",
"org_rep_person_name": null,
"person_role_at_subject": "Mandataire"
},
"co_filed_documents": []
}27-03-2023 2 directors appointed
- JL Square SRL, Bestuurder
- J.Jordens srl / Serge Solau, Dagelijks bestuur
Technical details
{
"events": [
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"role": "bestuurder",
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"name": "JL Square SRL",
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},
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"subkind": "regular",
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"statutory": null,
"compensated": null,
"effective_date": null,
"evidence_quote": "L\u0027assembl\u00E9e se r\u00E9unit ce jour et acte, \u00E0 l\u0027unanimit\u00E9, la nomination de JL Square SRL repr\u00E9sent\u00E9e par son administrateur Monsieur J\u00E9r\u00F4me Lhoist comme administrateur de la soci\u00E9t\u00E9 Horrea srl, avec effet imm\u00E9diat.",
"decharge_status": null,
"mandate_duration": null,
"rep_rotation_new_rep": null,
"rep_rotation_old_rep": null,
"effective_date_qualifier": null
},
{
"kind": "delegation_dagelijks_bestuur_in",
"role": "dagelijks_bestuur",
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"name": "J.Jordens srl / Serge Solau",
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},
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"subkind": "regular",
"via_org": {
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},
"statutory": null,
"compensated": null,
"effective_date": null,
"evidence_quote": "L\u0027assembl\u00E9e mandate J.Jordens srl / Serge Solau aux fins de proc\u00E9der aux diff\u00E9rentes formalit\u00E9s li\u00E9es \u00E0 ces d\u00E9cisions, en ce compris la signature des documents de publication au Moniteur beige.",
"decharge_status": null,
"mandate_duration": null,
"rep_rotation_new_rep": null,
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}
],
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": null,
"is_associated": false
},
"act_meta": {
"language": "fr",
"pub_date": "2023-03-27",
"filing_date": "2023-02-13",
"act_kind_objet": "Objet de l\u0027acte:"
},
"decisions": [
{
"body": "algemene_vergadering",
"date": "2023-02-13",
"unanimous": true
}
],
"is_correction": false,
"subject_company": {
"kbo": "0759.469.814",
"name_full": "HORREA",
"legal_form": "SRL"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "Serge Solau",
"org_rep_person_name": null,
"person_role_at_subject": "Mandataire"
},
"co_filed_documents": [],
"corrected_publication_numac": null
}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameFR | HORREA |