HORTA CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of HORTA CONSTRUCT is 2.7% (moderate). The 2024 annual accounts show negative equity (€-2k) and a net result of €-1k. Equity is shrinking by ~94.8% per year across the filed fiscal years. Its solvency ranks better than 10% of 5893 sector peers (fiscal year 2024). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability15▲+8
Solvency20▼-3
Growth44=
Track record100
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.94 against 0.94 in 2023; short-term debt: 104.5% and cash: 28% of total assets), and equity is negative.
Credit check for your own amount and term
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 2024Solvency, return and age of the figures
Solvency
-4.5%
Return on assets
-3.4%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% 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 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-2k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-08-2025, 8 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.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
8 d late
2023
23 d late
2022
14 d late
2021
11 d early
2020
23 d late
2019
39 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€92k▼ 1.3%
2020 · €93k
2018: €107khighest in 4 years
2019: €76k▼ -29.1% vs 2018lowest in 4 years
2020: €93k▲ +22.5% vs 2019
2021: €92k▼ -1.3% vs 2020
2018 → 2021
EBIT margin
-5.6%▲ 2.4pp
2020 · -8.0%
2018: -4.7%highest in 4 years
2019: -6.8%▼ -45.6% vs 2018
2020: -8.0%▼ -17.5% vs 2019lowest in 4 years
2021: -5.6%▲ +29.6% vs 2020
2018 → 2021
Net result
€-1k▲ 45.3%
2023 · €-3k
2018: €-5k
2019: €-5k▼ -9.7% vs 2018
2020: €-7k▼ -40.5% vs 2019lowest in 7 years
2021: €-5k▲ +24.1% vs 2020
2022: €7k▲ +231% vs 2021highest in 7 years
2023: €-3k▼ -138% vs 2022
2024: €-1k▲ +45.3% vs 2023
2018 → 2024
Working capital
€-3k▼ 67.8%
2023 · €-2k
2018: €10khighest in 7 years
2019: €7k▼ -29.6% vs 2018
2020: €-1k▼ -115% vs 2019
2021: €-6k▼ -423% vs 2020lowest in 7 years
2022: €673▲ +112% vs 2021
2023: €-2k▼ -359% vs 2022
2024: €-3k▼ -67.8% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€93k-€92k▼ 1.3%
2020: €93k
2021: €92k▼ -1.3% vs 2020
Equity€541-€-5k€2k€-502€-2k▼ 297%
2020: €541
2021: €-5k▼ -1005% vs 2020lowest in 5 years
2022: €2k▲ +145% vs 2021highest in 5 years
2023: €-502▼ -123% vs 2022
2024: €-2k▼ -297% vs 2023
Operating result€-7k-€-5k▲ 30.5%€9k€-2k€-2k▼ 4.0%
2020: €-7klowest in 5 years
2021: €-5k▲ +30.5% vs 2020
2022: €9k▲ +273% vs 2021highest in 5 years
2023: €-2k▼ -119% vs 2022
2024: €-2k▼ -4.0% vs 2023
Net result€-7k-€-5k▲ 24.1%€7k€-3k€-1k▲ 45.3%
2020: €-7klowest in 5 years
2021: €-5k▲ +24.1% vs 2020
2022: €7k▲ +231% vs 2021highest in 5 years
2023: €-3k▼ -138% vs 2022
2024: €-1k▲ +45.3% vs 2023
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2024 against €2k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €44k
Fixed assets
€936 ▼ 24.7%
Current assets
€43k ▲ 56.9%
Key figures and ratios
EBITDA
€-1k▼
2023 · €-1k
Cash flow
€-1k▲
2023 · €-2k
Solvency
-4.5%▼
2023 · -1.8%
Current ratio
0.94▼
2023 · 0.94
Debt to equity
-23.06
ROA
-3.4%▲
2023 · -9.5%
Interest coverage
-4.12▼
2023 · -2.93
Debt
€46k▲
2023 · €29k
Debt ≤ 1 year
€46k▲
2023 · €29k
Income taxes
€-539▼
2023 · €706
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 · 2024 against 2023 · 44 lines
Balance sheet
Code20232024
Assets
Total assets20/58€29k€44k▲
Fixed assets21/28€1k€936▼
Tangible fixed assets22/27€1k€936▼
Furniture and vehicles24€1k€936▼
Current assets29/58€27k€43k▲
Amounts receivable within one year40/41€25k€31k▲
Trade receivables40€13k€29k▲
Other amounts receivable41€13k€2k▼
Cash at bank and in hand54/58€2k€12k▲
Equity and liabilities
Total equity and liabilities10/49€29k€44k▲
Equity10/15€-502€-2k▼
Contributions10/11€19k€20k▲
Capital10€19k-
Issued capital100€19k-
Outside capital11-€20k
Other1109/19-€20k
Reserves13€2k-
Non-distributable reserves130/1€2k-
Legal reserve130€2k-
Profit (loss) carried forward14€-21k€-22k▼
Amounts payable17/49€29k€46k▲
Amounts payable within one year42/48€29k€46k▲
Trade debts44€22k€39k▲
Suppliers440/4€22k€39k▲
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€3k€2k▼
Remuneration and social security454/9€900-
Other amounts payable47/48€4k€5k▲
Income statement
Code20232024
Goods, raw materials, services and sundry goods60/61€218k€165k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€680€307▼
Other operating charges640/8€199€536▲
Non-recurring operating charges66A€58€442▲
Gross operating margin9900€-786€-507▲
Operating profit (loss)9901€-2k€-2k▼
Financial income75/76B€57€121▲
Recurring financial income75€57€121▲
Financial charges65/66B€356€360▲
Recurring financial charges65€356€360▲
Profit (loss) for the period before taxes9903€-2k€-2k▼
Income taxes67/77€706€-539▼
Profit (loss) for the period9904€-3k€-1k▲
Profit (loss) for the period to be appropriated9905€-3k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-21k€-22k▼
Profit (loss) brought forward from the previous period14P€-18k€-21k▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €93k | €92k | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €100k | €108k | €218k | €165k | ▼ 24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €299 | €726 | €541 | €680 | €307 | ▼ 54.8% |
| Other operating charges640/8 | - | €462 | €843 | €199 | €536 | ▲ 170% |
| Non-recurring operating charges66A | - | €53 | - | €58 | €442 | ▲ 662% |
| Gross operating margin9900 | €-7k | €-4k | €10k | €-786 | €-507 | ▲ 35.5% |
| Operating profit (loss)9901 | €-7k | €-5k | €9k | €-2k | €-2k | ▼ 4.0% |
| Financial income75/76B | - | €3 | €0 | €57 | €121 | ▲ 112% |
| Recurring financial income75 | €547 | €3 | €0 | €57 | €121 | ▲ 112% |
| Financial charges65/66B | - | €305 | €2k | €356 | €360 | ▲ 1.0% |
| Recurring financial charges65 | €207 | €305 | €392 | €356 | €360 | ▲ 1.0% |
| Non-recurring financial charges66B | - | - | €1k | - | - | - |
| Profit (loss) for the period before taxes9903 | €-7k | €-5k | €7k | €-2k | €-2k | ▼ 0.4% |
| Income taxes67/77 | €114 | - | €141 | €706 | €-539 | ▼ 176% |
| Profit (loss) for the period9904 | €-7k | €-5k | €7k | €-3k | €-1k | ▲ 45.3% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €-5k | €7k | €-3k | €-1k | ▲ 45.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26k | €16k | €23k | €29k | €44k | ▲ 53.3% |
| Fixed assets21/28 | €2k | €928 | €2k | €1k | €936 | ▼ 24.7% |
| Tangible fixed assets22/27 | €2k | €928 | €2k | €1k | €936 | ▼ 24.7% |
| Furniture and vehicles24 | - | €928 | €2k | €1k | €936 | ▼ 24.7% |
| Current assets29/58 | €24k | €15k | €21k | €27k | €43k | ▲ 56.9% |
| Amounts receivable within one year40/41 | €16k | €11k | €17k | €25k | €31k | ▲ 21.3% |
| Trade receivables40 | - | €8k | €11k | €13k | €29k | ▲ 133% |
| Other amounts receivable41 | - | €3k | €5k | €13k | €2k | ▼ 88.1% |
| Cash at bank and in hand54/58 | €2k | €4k | €4k | €2k | €12k | ▲ 484% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26k | €16k | €23k | €29k | €44k | ▲ 53.3% |
| Equity10/15 | €541 | €-5k | €2k | €-502 | €-2k | ▼ 297% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €20k | ▲ 9.7% |
| Capital10 | - | €19k | €19k | €19k | - | - |
| Issued capital100 | - | €19k | €19k | €19k | - | - |
| Outside capital11 | - | - | - | - | €20k | - |
| Other1109/19 | - | - | - | - | €20k | - |
| Reserves13 | €2k | €2k | €2k | €2k | - | - |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | - | - |
| Legal reserve130 | - | €2k | €2k | €2k | - | - |
| Profit (loss) carried forward14 | €-20k | €-25k | €-18k | €-21k | €-22k | ▼ 7.1% |
| Amounts payable17/49 | €26k | €20k | €20k | €29k | €46k | ▲ 57.5% |
| Amounts payable within one year42/48 | €26k | €20k | €20k | €29k | €46k | ▲ 57.5% |
| Trade debts44 | €5k | €8k | €8k | €22k | €39k | ▲ 77.6% |
| Suppliers440/4 | - | €8k | €8k | €22k | €39k | ▲ 77.6% |
| Advances received on contracts in progress46 | - | €10k | €10k | - | - | - |
| Taxes, remuneration and social security45 | - | €3k | €3k | €4k | €2k | ▼ 42.4% |
| Taxes450/3 | - | €3k | €3k | €3k | €2k | ▼ 24.2% |
| Remuneration and social security454/9 | - | - | - | €900 | - | - |
| Other amounts payable47/48 | - | - | - | €4k | €5k | ▲ 39.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €-5k | €7k | €-3k | €-1k | ▲ 45.3% |
| + Depreciation and write-downs630 | €299 | €726 | €541 | €680 | €307 | ▼ 54.8% |
| Operating cash flow (approximation) | €-7k | €-5k | €8k | €-2k | €-1k | ▲ 42.2% |
| Investment in fixed assets (approximation) | - | €0 | €-1k | €-371 | €0 | ▲ 100% |
| Change in cash | - | €2k | €518 | €-2k | €10k | ▲ 583% |
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
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
14-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 14 days late
2022
31-12
Financial
Back to profitnet €7k
Net result €7k after 4 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 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
16 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, Anderlecht · 1 establishment unit since 2007
Ground area
533 m²
Building footprint
284 m²
Volume, LiDAR
2,268 m³
2 parcels, Brussels · tallest building 14.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Biestebroekkaai 30, 1070 Anderlecht
since 20072.164.530.749
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21306C0222/00Z002 | Brussels | 380 m² | 1 · 131 m² | 14.2 m · 3 fl. |
| 21306C0222/00V003 | Brussels | 153 m² | 1 · 153 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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 7,006 companies in sector 81220 we hold annual accounts for 2,414. 552 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
Founded20-06-2007
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
81220Other building cleaning and industrial cleaning
43240Other construction installation
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.