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SOLAR HORIZON

Active
Private limited companyfounded 2011active for 15 yearsRaymond Hyelaan 20, 3090 Overijse, BelgiumKBO/BCE: BE 0839.892.019
Summary

The computed 12-month bankruptcy probability of SOLAR HORIZON is 1.8% (moderate). The annual accounts of SOLAR HORIZON for financial year 2025 show a net loss of 198% of total assets and of 91% of the equity at the start of that year. The 2025 annual accounts show equity of €1,448 and a net result of -€13,851. Equity is shrinking by about 30% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 27% of 9,265 sector peers (NACE 41, financial year 2025). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals.

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SOLAR HORIZONActiveChecked score 52/100
Risk analysis ReportCompare

Overview

Activity
General construction of residential buildings
NACE 41001
1 site
Size
€6,984total assets 2025
Equity
€1,448
Loss
-€13,851
Turnover not published (micro format)
Financial health
52 Fair Checked score 2025
Bankruptcy probabilitywithin 12 months
1.8%
Structure
Accounts filed 30 days late3 of 6 deeds read
Why 52raises riskLoss of €13,851, the second in a row (financial year 2025)1 change of registered office in 24 monthsSector: Construction of residential and non-residential buildings (NACE 41)lowers riskSize: total assets €6,984Show the evidence

Checked score

Score 2025
52 / 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 12% of its sector peers (NACE 41, micro)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 46-54
equity 20.7% of total assets
Liquidity 11-81
short-term debt 79.3% · cash 3.3%
Profitability 0=
return on assets -198.3%
Bankruptcy probability, 12 months
1.8% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.5% (13,427 companies, NACE 41, micro)
Last 24 months 11-2024: 0.6% 12-2024: 0.6%● unchanged vs 11-2024 01-2025: 0.6%● unchanged vs 12-2024 02-2025: 0.6%● unchanged vs 01-2025 03-2025: 0.6%● unchanged vs 02-2025 04-2025: 0.5%▼ -0.1 percentage points vs 03-2025 05-2025: 0.5%● unchanged vs 04-2025 06-2025: 0.5%● unchanged vs 05-2025 07-2025: 0.5%● unchanged vs 06-2025 08-2025: 0.6%▲ +0.1 percentage points vs 07-2025 09-2025: 0.5%▼ -0.1 percentage points vs 08-2025lowest value 10-2025: 0.5%● unchanged vs 09-2025lowest value 11-2025: 1.1%▲ +0.6 percentage points vs 10-2025 12-2025: 1.1%● unchanged vs 11-2025 01-2026: 1.0%▼ -0.1 percentage points vs 12-2025 02-2026: 1.0%● unchanged vs 01-2026 03-2026: 1.0%● unchanged vs 02-2026 04-2026: 1.0%● unchanged vs 03-2026 05-2026: 1.1%▲ +0.1 percentage points vs 04-2026 06-2026: 1.1%● unchanged vs 05-2026 07-2026: 1.1%● unchanged vs 06-2026 08-2026: 1.4%▲ +0.3 percentage points vs 07-2026 09-2026: 1.8%▲ +0.4 percentage points vs 08-2026highest value 10-2026: 1.8%● unchanged vs 09-2026highest value
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.26, compared with 4.39 in 2024, below the usual 1.5; short-term debt: 79.3% and cash: 3.3% of total assets), and 79.3% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro): better than 28% on solvency, 10% on liquidity, 5% on profitability and 6% on growth.

The bankruptcy probability was computed on 21-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.
lowers riskraises riskneutral
lowers risk · Size: total assets €6,984
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Loss of €13,851, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
raises risk · Sector: Construction of residential and non-residential buildings (NACE 41)
KBO
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€13,851
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
30 days late
2024
29 days late
2023
15 days late
2022
66 days late
2021
61 days late
2020
88 days late
2019
27 days late
← 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 45 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven months
Where today falls in the filing period
22-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · micro…
  2. Resignation: ETBAZ Mourad (director)Appointment: YALMAN Alen (director) ·…
  3. Registered officeRegistered-office move · Power of…

Key points

  • Risk: 6 loss-making years in a rowloss financial year 2025 -€13,851 View
  • Caution: Among the weakest 12% on net resultsector median €8,529 · 9,255 companies -€13,851 View
  • New directorlatest change 03-11-2025 · 1 in office 1 joined View

By topic

Financials

Financial year
2025
Total assets
€6,984
Loss
-€13,851
Solvency
20.7%
Total assets▼ 64.7%
Net result
20182025
Go to Financials

Timeline

Events
22
Since
2013
Next accounts
by 31-07-2027
  1. 29-08-2025Annual accounts filed
  2. 15-08-2024Annual accounts filed
  3. 31-01-2024Resignation: ETBAZ Mourad (manager)
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
General construction of residential buildingsNACE 41001
Founded
04-10-2011
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
30
Who signs
Each director alone
Annual meeting
First Friday of June at 19:00
Purpose
“Alle bouwwerkzaamheden, werkzaamheden van dakinrichting, herbekledingen, herstellingen…” (deed in French)
Go to Articles of association

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How much credit can you give this customer, and on what payment terms?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark

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