Horsify
ActiveSummary
Horsify has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1,664) and a net result of -€5,277. Equity is shrinking by ~19.1% per year across the filed fiscal years. Its solvency ranks better than 20% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency20▼-17
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.88 against 0.99 in 2024; short-term debt: 105.3% and cash: 7.9% 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
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 2025Solvency, return and age of the figures
Solvency
-5.3%
Return on assets
-16.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€1,664
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
41 d early
2023
33 d early
2022
33 d early
2021
37 d early
2020
40 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 33 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€1,664
2024 · €3,612
Total assets
€31,542▲ 0.5%
2024 · €31,378
Net result
-€5,277▲ 22.4%
2024 · -€6,804
Working capital
-€4,074▼ 1,047%
2024 · -€355
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,111▼ 37.4%-€17,273-€14,829▲ 14.1%-€6,517▲ 56.1%-€5,997▲ 8.0%
Net result€5,038▼ 39.0%-€17,310-€15,033▲ 13.2%-€6,804▲ 54.7%-€5,277▲ 22.4%
Equity€42,759▲ 13.4%€25,449▼ 40.5%€10,416▼ 59.1%€3,612▼ 65.3%-€1,664
Total assets€51,581▲ 10.5%€40,426▼ 21.6%€33,725▼ 16.6%€31,378▼ 7.0%€31,542▲ 0.5%
Debt€8,822▼ 1.7%€14,977▲ 69.8%€23,309▲ 55.6%€27,766▲ 19.1%€33,206▲ 19.6%
Working capital€35,142▲ 24.6%€25,354▼ 27.9%€7,430▼ 70.7%-€355-€4,074▼ 1,047%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5,997 in 2025 against €6,517 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €31,542
Fixed assets
€2,409 ▼ 39.3%
Current assets
€29,133 ▲ 6.3%
Key figures and ratios
EBITDA
-€4,439▲
2024 · -€4,693
Cash flow
-€3,719▲
2024 · -€4,980
Solvency
-5.3%▼
2024 · 11.5%
Current ratio
0.88▼
2024 · 0.99
Quick ratio
0.14▲
2024 · 0.05
Debt to equity
-19.95▼
2024 · 7.69
ROA
-16.7%▲
2024 · -21.7%
Interest coverage
-19.97▼
2024 · -18.28
Debt ≤ 1 year
€33,206▲
2024 · €27,766
Income taxes
€7▼
2024 · €59
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,943 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,058 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 6,943 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €25 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,475 | €5,122 | €2,501 | €1,823 | €1,558 | ▼ 14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €108 | €102 | -€209 | - | - | - |
| Other operating charges640/8 | €598 | €398 | €764 | €737 | €600 | ▼ 18.7% |
| Gross operating margin9900 | €11,291 | -€11,652 | -€11,774 | -€3,956 | -€3,839 | ▲ 2.9% |
| Operating profit (loss)9901 | €5,111 | -€17,273 | -€14,829 | -€6,517 | -€5,997 | ▲ 8.0% |
| Financial income75/76B | €128 | €183 | €2 | €29 | €950 | ▲ 3,175% |
| Recurring financial income75 | €128 | €183 | €2 | €29 | €950 | ▲ 3,175% |
| Non-recurring financial income76B | - | - | - | €29 | €950 | ▲ 3,175% |
| Financial charges65/66B | €154 | €169 | €150 | €257 | €222 | ▼ 13.4% |
| Recurring financial charges65 | €154 | €169 | €150 | €257 | €222 | ▼ 13.4% |
| Profit (loss) for the period before taxes9903 | €5,085 | -€17,259 | -€14,977 | -€6,744 | -€5,269 | ▲ 21.9% |
| Income taxes67/77 | €47 | €51 | €56 | €59 | €7 | ▼ 87.4% |
| Profit (loss) for the period9904 | €5,038 | -€17,310 | -€15,033 | -€6,804 | -€5,277 | ▲ 22.4% |
| Profit (loss) for the period to be appropriated9905 | €5,038 | -€17,310 | -€15,033 | -€6,804 | -€5,277 | ▲ 22.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €51,581 | €40,426 | €33,725 | €31,378 | €31,542 | ▲ 0.5% |
| Fixed assets21/28 | €7,618 | €2,495 | €2,986 | €3,968 | €2,409 | ▼ 39.3% |
| Intangible fixed assets21 | €644 | €127 | - | - | - | - |
| Tangible fixed assets22/27 | €6,974 | €2,368 | €2,986 | €3,968 | €2,409 | ▼ 39.3% |
| Plant, machinery and equipment23 | €430 | - | - | - | - | - |
| Furniture and vehicles24 | €6,544 | €2,368 | €2,986 | €3,968 | €2,409 | ▼ 39.3% |
| Current assets29/58 | €43,964 | €37,931 | €30,739 | €27,411 | €29,133 | ▲ 6.3% |
| Stocks and contracts in progress3 | €29,710 | €32,254 | €27,957 | €25,919 | €24,613 | ▼ 5.0% |
| Stocks30/36 | €29,710 | €32,254 | €27,957 | €25,919 | €24,613 | ▼ 5.0% |
| Amounts receivable within one year40/41 | €4,585 | €4,930 | €568 | €227 | €2,013 | ▲ 786% |
| Trade receivables40 | €2,867 | €3,211 | €557 | €217 | €2,003 | ▲ 825% |
| Other amounts receivable41 | €1,718 | €1,718 | €11 | €11 | €11 | = |
| Cash at bank and in hand54/58 | €9,066 | €142 | €1,995 | €1,091 | €2,506 | ▲ 130% |
| Deferred charges and accrued income490/1 | €603 | €606 | €219 | €173 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €51,581 | €40,426 | €33,725 | €31,378 | €31,542 | ▲ 0.5% |
| Equity10/15 | €42,759 | €25,449 | €10,416 | €3,612 | -€1,664 | ▼ 146% |
| Contributions10/11 | €45,000 | €45,000 | €45,000 | €45,000 | €45,000 | = |
| Reserves13 | €963 | €963 | €963 | €963 | €963 | = |
| Tax-exempt reserves132 | €963 | €963 | €963 | €963 | €963 | = |
| Profit (loss) carried forward14 | -€3,204 | -€20,514 | -€35,547 | -€42,350 | -€47,627 | ▼ 12.5% |
| Amounts payable17/49 | €8,822 | €14,977 | €23,309 | €27,766 | €33,206 | ▲ 19.6% |
| Amounts payable within one year42/48 | €8,822 | €12,577 | €23,309 | €27,766 | €33,206 | ▲ 19.6% |
| Trade debts44 | €5,750 | €7,157 | €8,645 | €7,277 | €7,747 | ▲ 6.5% |
| Suppliers440/4 | €5,750 | €7,157 | €8,645 | €7,277 | €7,747 | ▲ 6.5% |
| Taxes, remuneration and social security45 | €2,387 | €735 | €905 | €330 | €900 | ▲ 173% |
| Taxes450/3 | €2,387 | €735 | €905 | €330 | €900 | ▲ 173% |
| Other amounts payable47/48 | €685 | €4,685 | €13,759 | €20,159 | €24,559 | ▲ 21.8% |
| Accrued charges and deferred income492/3 | - | €2,400 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,038 | -€17,310 | -€15,033 | -€6,804 | -€5,277 | ▲ 22.4% |
| + Depreciation and write-downs630 | €5,475 | €5,122 | €2,501 | €1,823 | €1,558 | ▼ 14.5% |
| Operating cash flow (approximation) | €10,513 | -€12,188 | -€12,532 | -€4,980 | -€3,719 | ▲ 25.3% |
| Investment in fixed assets (approximation) | - | €0 | -€2,992 | -€2,805 | €0 | ▲ 100% |
| Change in cash | - | -€8,924 | €1,853 | -€904 | €1,415 | ▲ 257% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€17,310
Net result drops to -€17,310, the lowest in the series; recovery starts the following year.
21-09
State Gazette act
General meeting · Director appointment
Permanent representative · Board meeting
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
08-02
State Gazette act
Board meeting · Capital increase
Share issue · Capital
04-02
State Gazette act
Board meeting · Share cancellation
Capital · Statutes amendment
2021
22-11
State Gazette act
Board meeting · Director appointment
01-10
State Gazette act
General meeting · Merger
Accounting effect · Capital increase
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
31-12
Financial
Back to profitnet €8,255
Net result €8,255 after one loss-making year.
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Lasne · 1 establishment unit since 2014
Ground area
3,623 m²
Building footprint
114 m²
Volume, LiDAR
1,203 m³
Parcel 25061C0087/00N002, Wallonia · tallest building 13.3 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Rue de Colinet 38, 1380 Lasne
since 20142.227.198.291
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25061C0087/00N002 | Wallonia | 3,622 m² | 1 · 114 m² | 13.3 m · 4 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.
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Of 12,956 companies in sector 47120 we hold annual accounts for 2,192. 869 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
Founded07-02-2014
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
46190Agents in non-specialised wholesale trade
47762Retail sale of pets, pet food and pet supplies
93127Equestrian clubs
E-invoicing
Reachable via Peppol
Peppol ID
0208:0545902736
Also
9925:BE0545902736
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.