Checked.be
Active
BE 0641.775.754Private limited company
WinHorses
Vierbunderweg(Onk) 12 ·9500 Geraardsbergen, Belgium· 10 yrs active
Sector: Raising of horses and other equines
(01430)
Conclusion
WinHorses has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.32M and a net result of €1.45M. Its solvency ranks better than 87% of 79 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 2 annual accounts.
Key figures
| Equity | €2.32M |
| Net result | €1.45M |
| Better than sector | 87% |
| Active | 10 yrs |
Financial profile
96
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
100
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2015, 10 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.
Checked score
100
/ 100
Excellent
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.
Indicative credit limit
€230k
estimate, not credit advice
Score history
81
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 8.14 (≥ 1.5)
+10
Quick ratio
Quick ratio 6.21 (≥ 1.0)
+5
Leverage
Debt/equity 0.20 (< 1.0)
+10
Profitability
ROE 63% (≥ 10%)
+10
Interest coverage
Interest coverage 492.4× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-04-2026 with the NBB · fiscal year 2025 · abbreviated schema
Sector comparison
Fiscal year 2025 · NACE 01, Crop and animal production, hunting and related service activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 82.9% | 34.0% | |
| Net result | €1.45M | €114k | |
| Equity | €2.32M | €630k | |
| Gross operating margin | €2.02M | €515k | |
| Employees (FTE) | 0.0 | 4.0 |
€2.01M
+991.4%
24-25
€1.45M
+1624.5%
24-25
€1.55M
+902.3%
24-25
€2.80M
+104.3%
24-25
€2.32M
+161.1%
24-25
€1.87M
+320.8%
24-25
0
-
24-25
€479k
+2263.3%
24-25
€25k
-
24-25
€473k
0.0%
24-25
€262k
+7.1%
24-25
€211k
-7.4%
24-25
8.14
+188.9%
24-25
6.21
+614.2%
24-25
82.9%
+27.8%
24-25
0.20
-61.7%
24-25
62.8%
+560.5%
24-25
52.0%
+743.9%
24-25
492.43
+1996.8%
24-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 |
|---|---|---|
| Deposit | abbreviated schema | abbreviated schema |
| Revenue | - | - |
| EBITDA | €2.01M | €184k |
| Net profit | €1.45M | €84k |
| Cash flow | €1.55M | €155k |
| Staff costs | - | - |
| Income taxes | €479k | €20k |
| Dividends | €25k | - |
| Total assets | €2.80M | €1.37M |
| Equity | €2.32M | €887k |
| Debt | €473k | €473k |
| of which ≤ 1y | €262k | €245k |
| of which > 1y | €211k | €228k |
| Working capital | €1.87M | €445k |
| Employees (FTE) | 0.0 | - |
Ratios (computed)
| 2025 | 2024 | |
|---|---|---|
| Current ratio | 8.14 | 2.82 |
| Quick ratio | 6.21 | 0.87 |
| Working capital ratio | 66.9% | 32.5% |
| Solvency | 82.9% | 64.9% |
| Debt / equity | 0.20 | 0.53 |
| Long-term debt ratio | 0.09 | 0.26 |
| Interest coverage | 492.43 | 23.48 |
| Gross margin | - | - |
| Net margin | - | - |
| ROA | 52.0% | 6.2% |
| ROE | 62.8% | 9.5% |
| EBITDA margin | - | - |
| Days sales outstanding | - | - |
| Days payable outstanding | - | - |
| Inventory turnover | - | - |
| Days inventory (DSI) | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 |
|---|---|---|---|
| Balance sheet, Assets | |||
| TOTAL ASSETS | 20/58 | €2.80M | €1.37M |
| Fixed assets | 21/28 | €663k | €679k |
| Tangible fixed assets | 22/27 | €663k | €679k |
| Current assets | 29/58 | €2.13M | €689k |
| Stocks & contracts in progress | 3 | €506k | €477k |
| Amounts receivable within one year | 40/41 | €41k | €166k |
| Investments | 50/53 | €1.50M | €0 |
| Cash & bank | 54/58 | €81k | €45k |
| Balance sheet, Equity & liabilities | |||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.80M | €1.37M |
| Equity | 10/15 | €2.32M | €887k |
| Contributions / capital | 10/11 | €1k | €1k |
| Reserves | 13 | €2.32M | €886k |
| Accumulated profits (losses) | 14 | €0 | - |
| Provisions & deferred taxes | 16 | €6k | €7k |
| Amounts payable | 17/49 | €473k | €473k |
| Amounts payable after one year | 17 | €211k | €228k |
| Amounts payable within one year | 42/48 | €262k | €245k |
| Trade debts payable within one year | 44 | €45k | €110k |
| Income statement | |||
| Gross operating margin | 9900 | €2.02M | €188k |
| Operating result | 9901 | €1.91M | €114k |
| Financial income | 75 | €23k | €6k |
| Financial charges | 65 | €4k | €8k |
| Result before taxes | 9903 | €1.93M | €112k |
| Income taxes | 67/77 | €479k | €20k |
| Net result for the period | 9904 | €1.45M | €84k |
| Result to be appropriated | 9905 | €1.46M | €55k |
Legal Structure
| NACE primary | Raising of horses and other equines(01430) |
| Legal form | Private limited company(610) |
| Incorporation | 21-10-2015 |
| Status | Active |
| Postal code | 9500 |
Establishment units
WinHorses
since 20152.247.638.171
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41050B0430/00C000 | Flanders | 3,283 m² | 1 · 554 m² | 9.7 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Liquidity triplescurrent ratio 8.14
Current ratio from 2.82 to 8.14.
30-09
Financial
Equity above €2MEq €2.32M ▲161%
2 profitable years in a row build equity to €2.32M.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
29-12
State Gazette act
Minor change
other · Kristof Berlengé
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2023
29-12-2023 Publication in the Belgian Official Gazette, Minor change
Summary:
otherNotary:
Kristof Berlengé · ZottegemFirm:
de Vuyst & Berlengé, geassocieerde notarissen
Technical details
{
"notary": {
"name": "Kristof Berleng\u00E9",
"firm_city": null,
"firm_name": "de Vuyst \u0026 Berleng\u00E9, geassocieerde notarissen",
"office_city": "Zottegem",
"is_associated": true
},
"act_meta": {
"language": "nl",
"pub_date": "2023-12-29",
"filing_date": "2023-12-27",
"act_kind_objet": "ONTSLAGEN, BENOEMINGEN, DIVERSEN, STATUTEN (VERTALING, COORDINATIE, OVERIGE WIJZIGINGEN), MAATSCHAPPELIJKE ZETEL, DOEL, WIJZIGING RECHTSVORM"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"date": "2023-12-21",
"unanimous": true
},
"agm_change": {
"new_schedule": "op de vierde maandag van de maand maart",
"old_schedule": "op de vierde maandag van de maand maart",
"effective_from_year": null,
"rule_changes_summary": null
},
"detected_kind": "other",
"other_address": {
"action": "modified",
"purpose": "statutaire_zetel",
"address_new": "Vierbunderweg 12 9500 Onkerzele",
"address_old": "Ten Ede 135 9620 Zottegem",
"effective_date": null,
"effective_date_is_approximate": null
},
"mandate_renewal": {
"period_end": null,
"mandate_kind": "statutaire bestuurder",
"period_start": null,
"remuneration_eur": null,
"remuneration_kind": "gratuit",
"person_or_entity_kbo": null,
"person_or_entity_name": "DE WINNE Pascal en mevrouw DE WINNE Flore"
},
"subject_company": {
"kbo": "0641.775.754",
"name_full": "WinHorses",
"legal_form": "Vennootschap onder firma"
},
"accounts_deposit": {
"filing_kind": null,
"fiscal_year_end": "2023-09-30",
"filing_reference": null
},
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null
},
"co_filed_documents": [
"uitgifte van de akte statutenwijziging",
"verslag bestuursorgaan",
"verslag bedrijfsrevisor/extern accountant",
"co\u00F6rdinatie van de statuten"
],
"fiscal_year_change": {
"new_end_mm_dd": "09-30",
"old_end_mm_dd": null,
"new_start_mm_dd": "10-01",
"old_start_mm_dd": null,
"first_full_new_year": null,
"transition_period_end": null
},
"liquidation_closure": null,
"officer_designation": {
"role": "statutair bestuurder",
"organ": "bestuursorgaan",
"person_name": "DE WINNE Pascal en mevrouw DE WINNE Flore"
},
"special_procuration": null,
"is_volet_a_only_stub": false,
"vakbekwaamheid_change": null,
"should_reroute_to_category": null,
"single_shareholder_declaration": null
}Credit advice
Company registry (CBE)
Activities
Raising of horses and other equines01430Equestrian clubs93127
Names & trade names
| Legal nameNL | WinHorses |
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