HORSE TIME
ActiveHORSE TIME has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €165k and a net result of €109k. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 63% of 2026 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
76
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+87
Solvency72▲+33
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity ample (current ratio 1.86 against 1.17 in 2023; short-term debt: 53.1% and cash: 31.2% of total assets), but 53.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Sector 77
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
65 d late
2021
30 d late
2020
89 d late
2019
101 d late
2018
29 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€165k▲ 198%
2023 · €55k
2018: €159k
2019: €167k
2020: €153k
2021: €170k
2023: €55k
2018 → 2024
Total assets
€351k▼ 13.6%
2023 · €406k
2018: €385k
2019: €450k
2020: €540k
2021: €654k
2023: €406k
2018 → 2024
Net result
€109k
2023 · €-19k
2018: €12k
2019: €8k
2020: €-14k
2021: €17k
2023: €-19k
2018 → 2024
Working capital
€161k▲ 183%
2023 · €57k
2018: €161k
2019: €160k
2020: €143k
2021: €164k
2023: €57k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120232024Trend
Equity€167k-€153k▼ 8.3%€170k▲ 11.3%€55k▼ 67.5%€165k▲ 198%
Operating result€13k-€-11k€23k€-16k€110k
Net result€8k-€-14k€17k€-19k€109k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €110k after a loss of €16k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €351k
Fixed assets
€3k▼ 29.8%
Current assets
€348k▼ 13.4%
Equity and liabilities €351k
Equity
€165k▲ 198%
Debt
€186k▼ 46.9%
The debt ratio falls from 86.4% to 53.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€112k▲
2023 · €-12k
Cash flow
€111k▲
2023 · €-15k
Solvency
46.9%▲
2023 · 13.6%
Current ratio
1.86▲
2023 · 1.17
Quick ratio
1.86▲
2023 · 1.17
Debt / equity
1.13▼
2023 · 6.35
ROE
66.4%▲
2023 · -34.9%
ROA
31.2%▲
2023 · -4.7%
Interest coverage
109.25▲
2023 · -3.45
Debt
€186k▼
2023 · €351k
Debt ≤ 1 year
€186k▼
2023 · €344k
Debt > 1 year
€0▼
2023 · €7k
Staff costs
€515▼
2023 · €29k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€406k€351k▼
Fixed assets21/28€5k€3k▼
Tangible fixed assets22/27€5k€3k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€2k€2k▼
Current assets29/58€401k€348k▼
Stocks and contracts in progress3€0-
Stocks30/36€0-
Amounts receivable within one year40/41€177k€238k▲
Trade receivables40€159k€237k▲
Other amounts receivable41€18k€207▼
Cash at bank and in hand54/58€224k€109k▼
Deferred charges and accrued income490/1€490€571▲
Equity and liabilities
Total equity and liabilities10/49€406k€351k▼
Equity10/15€55k€165k▲
Contributions10/11€150k€150k=
Outside capital11€150k€150k=
Other1109/19€150k€150k=
Reserves13€830€830=
Non-distributable reserves130/1€830€830=
Reserves not available under the articles1311€830€830=
Profit (loss) carried forward14€-96k€14k▲
Amounts payable17/49€351k€186k▼
Amounts payable after more than one year17€7k€0▼
Financial debts170/4€7k€0▼
Amounts payable within one year42/48€344k€186k▼
Current portion of amounts payable after more than one year42€9k€7k▼
Financial debts43€0-
Other loans439€0-
Trade debts44€314k€139k▼
Suppliers440/4€314k€139k▼
Taxes, remuneration and social security45€9k€27k▲
Taxes450/3€3k€27k▲
Remuneration and social security454/9€6k€168▼
Other amounts payable47/48€12k€14k▲
Income statement
Code20232024
Remuneration, social security and pensions62€29k€515▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€1k▼
Other operating charges640/8€3k€584▼
Non-recurring operating charges66A€107€0▼
Gross operating margin9900€20k€113k▲
Operating profit (loss)9901€-16k€110k▲
Financial income75/76B€148€0▼
Recurring financial income75€148€0▼
Financial charges65/66B€3k€1k▼
Recurring financial charges65€3k€1k▼
Profit (loss) for the period before taxes9903€-19k€109k▲
Profit (loss) for the period9904€-19k€109k▲
Profit (loss) for the period to be appropriated9905€-19k€109k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-96k€14k▲
Profit (loss) brought forward from the previous period14P€-76k€-96k▼
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €109k
Net result €109k after one loss-making year.
31-12
Financial
Equity above €150kEq €165k ▲198%
Equity rises from €55k to €165k.
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
31-12
Financial
Weakest financial yearnet €-19k ▼211%
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Nivelles · 1 establishment unit since 2016
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.
Rue de Mons 481400 NivellesGround area
913 m²
Building footprint
454 m²
Volume, LiDAR
3,530 m³
2 parcels, Flanders, Wallonia · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Horse Time
since 20162.255.101.134
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23033C0002/00F004 | Flanders | 758 m² | 1 · 391 m² | 12.2 m · 3 fl. |
| 25782D0362/00F000 | Wallonia | 155 m² | 1 · 63 m² | 12.4 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
T & S Services
BE 0872.322.384
Gent · Eq €162k
ANIMOTION
BE 0458.674.792
Zottegem · Eq €167k
LESAGE LEON
BE 0696.815.732
Houffalize · Eq €168k
FJESTUM
BE 0537.330.510
Tielt · Eq €168k
ALMAGRE
BE 0675.602.921
Waterloo · Eq €161k
Of 976 companies in sector 77210 we hold annual accounts for 217. 158 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded29-06-2016
Fiscal year end31-12
Activities, NACEBEL
77210Renting and leasing of sports and recreation goods
15120Manufacture of leather and related products
47120Other non-specialised retail sale
47639Retail sale of other sporting goods
47640Retail trade
47910Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.