Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 6.3 to 1.9.
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Busy address KBO
47 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Horas from Elsene, company number BE0405911445, closed financial year 2025 with a result of € -242,820 after tax. For that financial year Horas recorded a gross margin of € -38,942 and equity of € 2 million. Compared with financial year 2024, the result moved from € -485,964 to € -242,820. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 14, 2026.
€ 2 million
▼ 11% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -242,820
▲ 50 % less loss than in 2024
Profit after tax over the fiscal year.
€ 14,127
▼ 84% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 1.5 million.
People and assets in 2025
1.9
▼ 1.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 219,336
▲ 12% vs 2024
€ 115,400 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 575
▼ 73% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 400,000
▲ 60% vs 2024
Loans from banks and other lenders, long and short.
€ 8,401
▼ 35% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,613
▼ 91% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 511,415 | € 1,699,348 | € -378,553 | € -38,942 | ▲ € 339,612 |
| Profit after taxes | € -371,501 | € 778,637 | € -485,964 | € -242,820 | ▲ € 243,144 |
| Equity | € 1,991,442 | € 2,770,079 | € 2,284,115 | € 2,041,295 | ▼ 11% |
| Total debts | € 2,967,976 | € 1,573,430 | € 312,870 | € 419,650 | ▲ 34% |
| Cash | € 235,963 | € 40,670 | € 89,155 | € 14,127 | ▼ 84% |
| Retained profit | € 1,491,442 | € 2,270,079 | € 1,784,115 | € 1,541,295 | ▼ 14% |
| Bank debt | € 1,614,249 | € 650,117 | € 250,000 | € 400,000 | ▲ 60% |
| Balance sheet total | € 4,959,418 | € 4,559,509 | € 2,704,985 | € 2,514,945 | ▼ 7% |
| Employees (FTE) | 8.1 | 6.3 | 3 | 1.9 | ▼ 1.1 |
Key figures of Horas, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Horas?
What happened at Horas in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 242,820. Source: NBB ↗
- CLAUDE BELLOMO CONSULTING SRL stepped down as director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Elsene. KBO
- New establishment in Sint-Pieters-Leeuw. KBO
In short
From € 371,501 loss in 2022 to € 242,820 loss in 2025.
Paid € 4,241 in corporate taxes since 2022.
Best year ever: 2023, with € 778,637 profit.
On average € 269,700 of value added per employee in 2023.
Management
Behind Horas are Georgette CREPLET and HORINVEST & SERVICES SA. It owns 75.8% of MOULIN D'EPRAVE itself.
Directors
According to the 2025 annual accounts
Georgette CREPLET
Director
Director · represented by Paul-Henri Holemans
Also active at: MOULIN D'EPRAVE
Managing director · represented by Claude BELLOMO
Also active at: ARTEMIDE BELGIUM
· until 2026
Establishments
Establishment units
Physical locations of this company
Louizalaan 486 box 15
1050 Elsene
Beemdstraat 25
1601 Sint-Pieters-Leeuw
Active since 1 February 1964
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 47 companies are registered at this address.
All companies at this address →Aviasales
€ 41,808 gross margin · 2025
Antalis
€ 30.3 million revenue · 2024
Produits chimiques Protebel
€ 10,028 gross margin · 2025
Old Inn
Micomet International
€ 3,462 gross margin · 2026
+42 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.911.445
- VAT number
- BE 0405.911.445
- Registered office
- Louizalaan 486 bus 15, 1050 Elsene
- Names & denominations
- Horas
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 February 1964
- Peppol
- Active · Active since 16 Dec 2025
- Activities · NACE
Groothandel in niet-elektrische huishoudelijke artikelen
Groothandel in meubels, niet-elektrische huishoudapparaten en vloerbedekking inclusief tapijten
Groothandel in elektrische huishoudelijke apparaten en audio- en videoapparatuur
Detailhandel in verlichtingsartikelen
Groothandel in informatie- en communicatieapparatuur
Detailhandel in artikelen voor verlichting en woninginrichting
Groothandel in overige kantoormachines en kantoorbenodigdheden
Detailhandel in verlichtingsartikelen in gespecialiseerde winkels
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