HORSES & STONES
ActiveHORSES & STONES has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-185k) and a net result of €-71k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 3112 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
27
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.31 against 0.43 in 2024; short-term debt: 262.1% and cash: 1.5% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven 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 01
Relative position
BE, all sectors
reference
Sector 01
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-162.1%
Return on assets
-62%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €-185k
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 16-07-2026, 15 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
15 d early
2024
16 d early
2023
19 d early
2022
16 d late
2021
27 d early
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-185k▼ 62.0%
2024 · €-114k
2021: €-4k
2022: €139
2023: €-34k
2024: €-114k
2021 → 2025
Total assets
€114k▼ 8.3%
2024 · €125k
2021: €6k
2022: €103k
2023: €110k
2024: €125k
2021 → 2025
Net result
€-71k▲ 11.9%
2024 · €-81k
2021: €-4k
2022: €4k
2023: €-34k
2024: €-81k
2021 → 2025
Working capital
€-206k▼ 49.9%
2024 · €-137k
2021: €-5k
2022: €-9k
2023: €-44k
2024: €-137k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-4k-€139€-34k€-114k▼ 238%€-185k▼ 62.0%
Operating result€-4k-€4k€-34k€-80k▼ 137%€-71k▲ 11.9%
Net result€-4k-€4k€-34k€-81k▼ 137%€-71k▲ 11.9%
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 €71k in 2025 against €80k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114k
Fixed assets
€20k▼ 10.1%
Current assets
€94k▼ 7.7%
Key figures and ratios
EBITDA
€-68k▲
2024 · €-79k
Cash flow
€-68k▲
2024 · €-79k
Solvency
-162.1%▼
2024 · -91.7%
Current ratio
0.31▼
2024 · 0.43
Quick ratio
0.07▼
2024 · 0.13
Debt / equity
-1.62▲
2024 · -2.09
ROA
-62.0%▲
2024 · -64.5%
Interest coverage
-234.22▲
2024 · -300.24
Debt
€300k▲
2024 · €239k
Debt ≤ 1 year
€300k▲
2024 · €239k
Staff costs
€42k▼
2024 · €68k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€125k€114k▼
Formation expenses20€243€0▼
Fixed assets21/28€22k€20k▼
Tangible fixed assets22/27€22k€20k▼
Plant, machinery and equipment23€14k€14k=
Furniture and vehicles24€6k€4k▼
Other tangible fixed assets26€2k€2k▼
Current assets29/58€102k€94k▼
Stocks and contracts in progress3€72k€73k▲
Stocks30/36€72k€73k▲
Amounts receivable within one year40/41€28k€19k▼
Trade receivables40€4k€14k▲
Other amounts receivable41€24k€5k▼
Cash at bank and in hand54/58€2k€2k▼
Deferred charges and accrued income490/1€176€147▼
Equity and liabilities
Total equity and liabilities10/49€125k€114k▼
Equity10/15€-114k€-185k▼
Profit (loss) carried forward14€-114k€-185k▼
Amounts payable17/49€239k€300k▲
Amounts payable within one year42/48€239k€300k▲
Trade debts44€18k€10k▼
Suppliers440/4€18k€10k▼
Taxes, remuneration and social security45€13k€13k▼
Taxes450/3€223€172▼
Remuneration and social security454/9€13k€13k▼
Other amounts payable47/48€208k€277k▲
Income statement
Code20242025
Remuneration, social security and pensions62€68k€42k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€451€0▼
Non-recurring operating charges66A€0-
Gross operating margin9900€-10k€-26k▼
Operating profit (loss)9901€-80k€-71k▲
Financial income75/76B€5€0▼
Recurring financial income75€5€0▼
Financial charges65/66B€262€291▲
Recurring financial charges65€262€291▲
Profit (loss) for the period before taxes9903€-81k€-71k▲
Profit (loss) for the period9904€-81k€-71k▲
Profit (loss) for the period to be appropriated9905€-81k€-71k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-114k€-185k▼
Profit (loss) brought forward from the previous period14P€-34k€-114k▼
The notes to these accounts (3 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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-81k
Net result drops to €-81k, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Londerzeel · 1 establishment unit since 2020
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.
Lippelostraat 551840 LonderzeelGround area
3,646 m²
Building footprint
227 m²
Volume, LiDAR
1,142 m³
Parcel 23048C0136/00D002, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HORSES & STONES
since 20202.311.321.047
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23048C0136/00D002 | Flanders | 3,646 m² | 1 · 227 m² | 8.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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
HORSE AREL SRL
BE 0785.321.403
Arlon · Eq €113
Fokkerij 't Hooghof
BE 0786.780.757
Alveringem · Eq €172
DE RHUCATO HOEVE
BE 0714.978.090
Balen · Eq €463
LE VAL D'HERLIN
BE 0429.658.530
La Roche-en-Ardenne · Eq €513
TONICK STABLES
BE 0541.430.838
Gembloux · Eq €536
Of 1,957 companies in sector 01430 we hold annual accounts for 743. 12 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-12-2020
Fiscal year end31-12
Activities, NACEBEL
01430Raising of horses and other equines
93110Operation of sports facilities
93127Equestrian clubs
93129Activities of other sports clubs
93199Other sports activities
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.