Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of HORUS+ is 2.8% (moderate). The 2024 annual accounts show negative equity (€-158k) and a net result of €-5k. Equity is shrinking by ~23.3% per year across the filed fiscal years. Its solvency ranks better than 12% of 5650 sector peers (fiscal year 2024). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone2.8%
Moderate
0%0,5%1,5%4%10%≥25%
Higher-failure-rate sector
+Annual accounts: weaker financial profile
+Long track record
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 17 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-10-2025, 70 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.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 09-10-2025 | 70 d late | 2025-00537050 |
| 31-12-2023 | 31-07-2024 | 22-11-2024 | 114 d late | 2024-00604019 |
| 31-12-2022 | 31-07-2023 | 20-12-2023 | 142 d late | 2024-00541820 |
| 31-12-2021 | 31-07-2022 | 29-08-2022 | 29 d late | 2022-20332038 |
| 31-12-2020 | 31-07-2021 | 27-10-2021 | 88 d late | 2021-73900306 |
| 31-12-2019 | 31-07-2020 | 26-11-2020 | 118 d late | 2020-72200488 |
| 31-12-2018 | 31-07-2019 | 22-07-2019 | 9 d early | 2019-35700322 |
| 31-12-2017 | 31-07-2018 | 23-07-2018 | 8 d early | 2018-36700067 |
| 31-12-2016 | 31-07-2017 | 18-07-2017 | 13 d early | 2017-33400537 |
| 31-12-2015 | 31-07-2016 | 19-08-2016 | 19 d late | 2016-45000402 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsEstablished
Founded in 2008, 18 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
Turnover€12k
EBIT margin-765.9%
Net result€-5k+84.1%
Working capital€-236k-7.2%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 09-10-2025 with the NBB · fiscal year 2024 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~110% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
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).
Sector comparison
Fiscal year 2024 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -73.4% | 19.3% | |
| Net result | €-5k | €4k | |
| Equity | €-158k | €14k | |
| Gross operating margin | €112k | €52k | |
| Staff costs | €88k | €49k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P12
Stable position over 2020-2024
· n=1436-5650
P29
Improving position over 2020-2024
· n=1428-5638
P5
Stable position over 2020-2024
· n=1440-5662
P71
Improving position over 2020-2024
· n=1422-5624
Describes the position versus peers, not a forecast.
€12k
-
18-24
€13k
-
18-24
€-5k
+84.1%
18-24
€11k
-
18-24
€216k
+4.9%
18-24
€-158k
-2.9%
18-24
€-236k
-7.2%
18-24
4
+15.8%
18-24
Show 14 other metrics
€88k
+42.9%
18-24
€20k
+15773.9%
18-24
€374k
+4.0%
18-24
€374k
+4.0%
18-24
€0
-100.0%
18-24
0.37
-4.8%
18-24
0.37
-4.8%
18-24
-73.4%
+1.8%
18-24
-2.36
-1.1%
18-24
2.9%
-84.5%
18-24
-2.1%
+84.8%
18-24
-836.1%
-
18-24
-765.9%
-
18-24
7.80
-
18-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €13k |
| Net profit | €-5k |
| Cash flow | €11k |
| Staff costs | €88k |
| Income taxes | - |
| Dividends | - |
| Total assets | €216k |
| Equity | €-158k |
| Debt | €374k |
| of which ≤ 1y | €374k |
| of which > 1y | - |
| Working capital | €-236k |
| Employees (FTE) | 4.4 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.37 |
| Quick ratio | 0.37 |
| Working capital ratio | -109.6% |
| Solvency | -73.4% |
| Debt / equity | -2.36 |
| Long-term debt ratio | - |
| Interest coverage | 7.80 |
| Gross margin | - |
| Net margin | - |
| ROA | -2.1% |
| ROE | 2.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts (20 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €216k |
| Fixed assets | 21/28 | €78k |
| Tangible fixed assets | 22/27 | €76k |
| Financial fixed assets | 28 | €2k |
| Current assets | 29/58 | €138k |
| Amounts receivable within one year | 40/41 | €137k |
| Cash & bank | 54/58 | €817 |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €216k |
| Equity | 10/15 | €-158k |
| Contributions / capital | 10/11 | €19k |
| Accumulated profits (losses) | 14 | €-177k |
| Amounts payable | 17/49 | €374k |
| Amounts payable within one year | 42/48 | €374k |
| Trade debts payable within one year | 44 | €18k |
| Income statement | ||
| Gross operating margin | 9900 | €112k |
| Operating result | 9901 | €-3k |
| Financial charges | 65 | €2k |
| Result before taxes | 9903 | €-5k |
| Net result for the period | 9904 | €-5k |
| Result to be appropriated | 9905 | €-5k |
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed26
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
4 directorsCurrent directors & mandates
-
Current22-03-2023 → present
2 events
- 22-03-2023 Mandate renewed· Director
- 28-10-2011 Resigned· Managing director
-
Current22-03-2023 → present
Historic, not recently confirmed (1)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
Not recently confirmedlast confirmed in an act from 2012
Former directors (1)
-
Former- → 28-06-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Cafés en bars(56301) |
| Legal form | Private limited company(610) |
| Incorporation | 22-07-2008 |
| Status | Active |
| Postal code | 4000 |
Structure & network
Locations & real estate
Registered office
from the Crossroads BankCannot 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 des Guillemins 834000 LiègeEstablishment units
1 locationLe Saint-Georges
since 20082.184.738.621
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area76 m²
Buildings1
Building footprint79 m²
Volume (LiDAR)1,480 m³
Tallest building20.3 m · ±6 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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.
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62805B0472/00W000 | Wallonia | 76 m² | 1 · 79 m² | 20.3 m · 6 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
7 acts Address history · 3
09-02-2022
v3.2
06-12-2018
v3.2
25-07-2017
v3.2
All acts · 7
updated 3 months ago
2026
06-05-2026 General meeting · Officer resignation · Officer appointment · Act object
- Filing: 2026-04-17 · HORUS+
- General meeting: 2026-04-16 · HORUS+
- Officer resignation: role: administrateur, effective_date: 2025-12-31 · Marcantuoni Anna
- Officer appointment: role: administrateur, effective_date: 2026-01-01 · MORAY Tony
- Publication: 2026-05-06
- Act object: Démission et nomation d'un administrateur
Summary:
General meeting · Officer resignation · Officer appointment · Act object
2024
13-09-2024 Moray Tony Alain resigns as director
2023
22-03-2023 2 reappointed
2022
09-02-2022 Registered office moved from Liège to LIEGE
- rue des Guillemins 83, 4000 Liège → Avenue Blonden 4, 4000 LIEGE
Summary:
v3.2
2018
06-12-2018 Registered office moved from Strivay to Liège
2017
25-07-2017 Registered office moved from Montrgnée to Strivay
- Chausée Roosevelt 129, 4420 Montrgnée → Rue de l'Aubépine 3, 4122 Strivay
Summary:
v3.2
2012
18-01-2012 1 director appointed, 1 resigning
- STRANIERI Elisabetha, Gedelegeerd bestuurder
- Marcantuoni Anna, Gedelegeerd bestuurder
Summary:
v3.2
Analysis
Financial profile
5 of 5 axes measured46
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
26
Profitability
14
Solvency
33
Growth
58
Stability
100
Credit advice
verdict per customer and amountSimilar
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We hold annual accounts for 1,390 of the 13,889 companies in this sector. 1,136 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Cafés en bars56301Cafés en bars56301Verhuur en exploitatie van eigen of geleasd niet-residentieel onroerend goed, exclusief terreinen68203Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen68203Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990
Primary activity highlighted.
Names & trade names
| Legal nameFR | HORUS+ |
Registered office
Rue des Guillemins 83
4000 Liège, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.