Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 1 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
29 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Thines Horizon from Etterbeek, company number BE0637782423, closed financial year 2025 with a result of € -3.4 million after tax. For that financial year Thines Horizon recorded a gross margin of € 30,325 and equity of € -1.1 million. Compared with financial year 2024, the result moved from € -24,993 to € -3.4 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ -1.1 million
▼ € 3.4 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.4 million
▼ 13589 % more loss than in 2024
Profit after tax over the fiscal year.
€ 169,836
▲ € 136,345 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -3.6 million.
Debts at end 2025
€ 13.8 million
Loans from banks and other lenders, long and short.
€ 1,884
▼ 99% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -16,133 | € -13,107 | € -22,588 | € 30,325 | ▲ € 52,913 |
| Profit after taxes | € -18,116 | € -14,991 | € -24,993 | € -3,421,417 | ▼ € 3.4 million |
| Equity | € 2,334,435 | € 2,317,944 | € 2,291,450 | € -1,131,467 | ▼ € 3.4 million |
| Total debts | € 13,042,024 | € 15,061,012 | € 16,547,082 | € 15,444,845 | ▼ 7% |
| Cash | € 13,099 | € 76,157 | € 33,491 | € 169,836 | ▲ € 136,345 |
| Retained profit | € -171,565 | € -186,556 | € -211,550 | € -3,632,967 | ▼ € 3.4 million |
| Bank debt | € 12,443,285 | € 13,750,000 | € 13,750,000 | € 13,750,000 | |
| Balance sheet total | € 15,378,459 | € 17,380,456 | € 18,839,532 | € 14,313,878 | ▼ 24% |
Key figures of Thines Horizon, 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 Thines Horizon?
What happened at Thines Horizon in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 3.4 million. Source: NBB ↗
- Assets Investments and Consultancy SRL became a director. NBB
- GSV Consult SRL became a director. NBB
- Securex Vie Mutualité became a director. NBB
- Alain Willy Joseph BRAIVE became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 18,116 loss in 2022 to € 3.4 million loss in 2025.
A new publication or filing at Thines Horizon? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Motown Project Holding II comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Thines HorizonBehind Thines Horizon are Assets Investments and Consultancy SRL, GSV Consult SRL, Securex Vie Mutualité and Alain Willy Joseph BRAIVE. The shares are held by Motown Project Holding II (100%).
Directors
According to the 2025 annual accounts
Assets Investments and Consultancy SRL
Director · represented by Serge Jean Benoit DEMOULIN
Also active at: Secrétariat Social Securex - Sociaal Sekretariaat Securex - Sozial Sekretariate für Arbeitgeber Securex, Securex ICT, SECUREX INTEGRITY, CAISSE LIBRE D'ASSURANCES SOCIALES POUR TRAVAILLEURS INDEPENDANTS - SECUREX INTEGRITY, VRIJ SOCIAAL VERZEKERINGSFONDS VOOR ZELFSTANDIGEN, SERVICE EXTERNE DE PREVENTION ET DE PROTECTION SECUREX-EXTERNE DIENST VOOR PREVENTIE EN BESCHERMING SECUREX, Groep Securex - Groupe Securex, SECUREX INVEST, SECUREX CONSULT, CONTROLE MEDICAL SECUREX - MEDISCHE CONTROLE SECUREX +12 more
since 2025
Director · represented by Guy Marcel Gustave SAVOIR
Also active at: Secrétariat Social Securex - Sociaal Sekretariaat Securex - Sozial Sekretariate für Arbeitgeber Securex, Securex ICT, SECUREX INTEGRITY, CAISSE LIBRE D'ASSURANCES SOCIALES POUR TRAVAILLEURS INDEPENDANTS - SECUREX INTEGRITY, VRIJ SOCIAAL VERZEKERINGSFONDS VOOR ZELFSTANDIGEN, SERVICE EXTERNE DE PREVENTION ET DE PROTECTION SECUREX-EXTERNE DIENST VOOR PREVENTIE EN BESCHERMING SECUREX, Groep Securex - Groupe Securex, SECUREX INVEST, SECUREX CONSULT, CONTROLE MEDICAL SECUREX - MEDISCHE CONTROLE SECUREX +16 more
since 2025
Director · represented by Pierre Michel Caroline PRINCEN
Also active at: HAPPY GENERATION PROPERTY, ALPHA KEY, SEEDER FUND, ERNEST 11, Colive, HIVE5 GROUP, COURS SAINT-MICHEL 30, Tenbosch 126 +6 more
since 2025
Alain Willy Joseph BRAIVE
Director
since 2025
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Tervurenlaan 43
1040 Etterbeek
Louizalaan 489
1050 Brussel
Active since 15 September 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 29 companies are registered at this address.
All companies at this address →Secrétariat Social Securex - Sociaal Sekretariaat Securex - Sozial Sekretariate für Arbeitgeber Securex same network
€ 103.5 million revenue · 2025
Securex ICT same network
€ 47.1 million revenue · 2025
SECUREX INTEGRITY, CAISSE LIBRE D'ASSURANCES SOCIALES POUR TRAVAILLEURS INDEPENDANTS - SECUREX INTEGRITY, VRIJ SOCIAAL VERZEKERINGSFONDS VOOR ZELFSTANDIGEN same network
€ 23.5 million revenue · 2025
SERVICE EXTERNE DE PREVENTION ET DE PROTECTION SECUREX-EXTERNE DIENST VOOR PREVENTIE EN BESCHERMING SECUREX same network
€ 58 million revenue · 2025
Groep Securex - Groupe Securex same network
€ 63.1 million revenue · 2025
+24 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
- 0637.782.423
- VAT number
- BE 0637.782.423
- Registered office
- Tervurenlaan 43, 1040 Etterbeek
- Names & denominations
- Thines Horizon
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 September 2015
- Peppol
- Active · Active since 5 Feb 2026
- Activities · NACE
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