HORSAVI
ActiveHORSAVI has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €127k and a net result of €22k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 83% of 31523 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +6 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▲+70
Solvency100=
Growth58▲+26
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity ample (current ratio 6.39 against 5.57 in 2024), and 14.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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
85.3%
Return on assets
14.6%
Age of the figures
8 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
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €127k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
31 d early
2023
56 d early
2022
61 d early
2021
62 d early
2020
57 d early
2019
3 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€127k▲ 20.7%
2024 · €105k
2018: €142k
2019: €133k
2020: €119k
2021: €119k
2022: €109k
2023: €102k
2024: €105k
2018 → 2025
Total assets
€149k▲ 3.9%
2024 · €144k
2018: €281k
2019: €261k
2020: €231k
2021: €217k
2022: €190k
2023: €154k
2024: €144k
2018 → 2025
Net result
€22k▲ 551%
2024 · €3k
2018: €3k
2019: €-9k
2020: €-14k
2021: €174
2022: €-10k
2023: €-7k
2024: €3k
2018 → 2025
Working capital
€118k▲ 21.7%
2024 · €97k
2018: €152k
2019: €137k
2020: €125k
2021: €118k
2022: €109k
2023: €94k
2024: €97k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€119k-€109k▼ 8.5%€102k▼ 6.1%€105k▲ 3.3%€127k▲ 20.7%
Operating result€3k-€-7k€-4k▲ 43.6%€3k€24k▲ 661%
Net result€174-€-10k€-7k▲ 33.9%€3k€22k▲ 551%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 661% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149k
Fixed assets
€9k▼ 64.6%
Current assets
€140k▲ 18.4%
Equity and liabilities €149k
Equity
€127k▲ 20.7%
Debt
€22k▼ 42.5%
The debt ratio falls from 26.6% to 14.7%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€40k▲
2024 · €19k
Cash flow
€38k▲
2024 · €19k
Solvency
85.3%▲
2024 · 73.4%
Current ratio
6.39▲
2024 · 5.57
Quick ratio
6.39▲
2024 · 5.57
Debt / equity
0.17▼
2024 · 0.36
ROE
17.1%▲
2024 · 3.2%
ROA
14.6%▲
2024 · 2.3%
Interest coverage
19.10▲
2024 · 8.41
Debt
€22k▼
2024 · €38k
Debt ≤ 1 year
€22k▲
2024 · €21k
Income taxes
€2k▲
2024 · €335
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€144k€149k▲
Fixed assets21/28€25k€9k▼
Tangible fixed assets22/27€25k€9k▼
Land and buildings22€25k€9k▼
Current assets29/58€119k€140k▲
Amounts receivable within one year40/41€12k€12k▼
Trade receivables40€7k€10k▲
Other amounts receivable41€5k€2k▼
Current investments50/53€93k€110k▲
Cash at bank and in hand54/58€13k€18k▲
Deferred charges and accrued income490/1€419€445▲
Equity and liabilities
Total equity and liabilities10/49€144k€149k▲
Equity10/15€105k€127k▲
Contributions10/11€9k€9k=
Reserves13€5k€27k▲
Distributable reserves133€5k€27k▲
Profit (loss) carried forward14€91k€91k=
Amounts payable17/49€38k€22k▼
Amounts payable after more than one year17€17k-
Financial debts170/4€17k-
Amounts payable within one year42/48€21k€22k▲
Current portion of amounts payable after more than one year42€16k€17k▲
Trade debts44€1k€603▼
Suppliers440/4€1k€603▼
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Other amounts payable47/48€4k€3k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€16k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€21k€42k▲
Operating profit (loss)9901€3k€24k▲
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€4k€24k▲
Income taxes67/77€335€2k▲
Profit (loss) for the period9904€3k€22k▲
Profit (loss) for the period to be appropriated9905€3k€22k▲
Appropriation of the result
Profit (loss) to be appropriated9906€95k€113k▲
Profit (loss) brought forward from the previous period14P€91k€91k=
Transfer to equity691/2€3k€22k▲
To other reserves6921€3k€22k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €22k ▲551%
Operating result €24k, net result €22k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €174
Net result €174 after 2 loss-making years.
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2019
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
14-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Oudergem
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.
Waterleliënlaan 111160 OudergemGround area
790 m²
Building footprint
287 m²
Volume, LiDAR
4,902 m³
Parcel 21332B0493/00M031, Brussels · tallest building 19.9 m, ±6 floors. Linked by address, not a title deed.
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0493/00M031 | Brussels | 790 m² | 1 · 287 m² | 19.9 m · 6 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.
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PeARL Consulting bvba
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Of 82,215 companies in sector 70200 we hold annual accounts for 52,392. 40,719 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-05-2009
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
86909Human health activities
86995Nutrition and dietetics services
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.