NicHorse
ActiveSummary
NicHorse has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €334k and a net result of €61k. Equity is shrinking by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 75% of 1991 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
92
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▲+86
Solvency100=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 4.01 against 22.12 in 2024; short-term debt: 24.1% and cash: 42.6% of total assets), and 24.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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 90
Relative position
BE, all sectors
reference
Sector 90
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
75.9%
Return on assets
13.8%
Age of the figures
15 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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
1 d early
2022
on the day
2021
10 d early
2020
2 d early
2019
10 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€61k
2024 · €-119k
2019: €-15k
2020: €-104k
2021: €-23k
2022: €51k
2023: €43k
2024: €-119k
2019 → 2025
Working capital
€319k▼ 5.2%
2024 · €337k
2019: €613k
2020: €521k
2021: €518k
2022: €398k
2023: €455k
2024: €337k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€383k-€434k▲ 13.2%€477k▲ 9.8%€358k▼ 24.9%€334k▼ 6.7%
Operating result€47k-€45k▼ 4.8%€21k▼ 54.4%€-124k€78k
Net result€-23k-€51k€43k▼ 16.1%€-119k€61k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €78k after a loss of €124k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €440k
Fixed assets
€14k ▼ 31.4%
Current assets
€426k ▲ 20.6%
Equity and liabilities €440k
Equity
€334k ▼ 6.7%
Debt
€106k ▲ 565%
Debt's share of the balance-sheet total rises from 4.3% to 24.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€84k▲
2024 · €-117k
Cash flow
€67k▲
2024 · €-112k
Current ratio
4.01▼
2024 · 22.12
Quick ratio
2.13▼
2024 · 16.69
Debt to equity
0.32▲
2024 · 0.04
ROE
18.2%▲
2024 · -33.2%
ROA
13.8%▲
2024 · -31.7%
Interest coverage
7.38▲
2024 · -170.74
Debt ≤ 1 year
€106k▲
2024 · €16k
Income taxes
€6k▲
2024 · €-3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€374k€440k▲
Fixed assets21/28€21k€14k▼
Tangible fixed assets22/27€21k€14k▼
Plant, machinery and equipment23€1k€605▼
Furniture and vehicles24€15k€9k▼
Other tangible fixed assets26€5k€5k▼
Financial fixed assets28€160€160=
Current assets29/58€353k€426k▲
Stocks and contracts in progress3€87k€200k▲
Stocks30/36€87k€200k▲
Amounts receivable within one year40/41€90k€37k▼
Trade receivables40€61k€29k▼
Other amounts receivable41€30k€8k▼
Current investments50/53€31€0▼
Cash at bank and in hand54/58€173k€187k▲
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€374k€440k▲
Equity10/15€358k€334k▼
Contributions10/11€12k€12k=
Reserves13€129k€104k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€127k€102k▼
Profit (loss) carried forward14€217k€218k▲
Amounts payable17/49€16k€106k▲
Amounts payable within one year42/48€16k€106k▲
Trade debts44€4k€311▼
Suppliers440/4€4k€311▼
Taxes, remuneration and social security45€9k€10k▲
Taxes450/3€4k€7k▲
Remuneration and social security454/9€5k€3k▼
Other amounts payable47/48€3k€96k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€7k▲
Other operating charges640/8€19k€13k▼
Gross operating margin9900€-98k€98k▲
Operating profit (loss)9901€-124k€78k▲
Financial income75/76B€3k€939▼
Recurring financial income75€3k€939▼
Financial charges65/66B€687€11k▲
Recurring financial charges65€687€11k▲
Profit (loss) for the period before taxes9903€-122k€67k▲
Income taxes67/77€-3k€6k▲
Profit (loss) for the period9904€-119k€61k▲
Profit (loss) for the period to be appropriated9905€-119k€61k▲
Appropriation of the result
Profit (loss) to be appropriated9906€217k€278k▲
Profit (loss) brought forward from the previous period14P€335k€217k▼
Transfer from equity791/2-€85k
Transfer to equity691/2€0€60k▲
To other reserves6921€0€60k▲
Profit to be distributed694/7-€85k
Return on contributions (dividend)694-€85k
The notes to these accounts (14 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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €61k
Net result €61k after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet €-119k ▼379%
Net result drops to €-119k, the lowest in the series; recovery starts the following year.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Back to profitnet €51k
Net result €51k after 3 loss-making years.
21-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Liquidity doublescurrent ratio 84.55
Current ratio from 42.04 to 84.55; short-term debt falls from €13k to €6k.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
21-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Chaumont-Gistoux · 1 establishment unit since 2011
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 des Papeteries 301325 Chaumont-GistouxGround area
1,718 m²
Building footprint
240 m²
Volume, LiDAR
1,485 m³
2 parcels, Wallonia · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
NicHorse
since 20112.197.860.345
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25018B0144/00M000 | Wallonia | 1,210 m² | 1 · 105 m² | 7.7 m · 2 fl. |
| 25098C0362/00F000 | Wallonia | 508 m² | 1 · 135 m² | 7.4 m · 2 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.
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Of 3,525 companies in sector 90391 we hold annual accounts for 680. 422 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-03-2011
Fiscal year end30-06
Activities, NACEBEL 2025
90391Promotion and organisation of arts and performing arts events
01430Raising of horses and other equines
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:philippemignon30@gmail.com