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 4 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 3 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
49 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
HORREA from Elsene, company number BE0759469814, closed financial year 2025 with a result of € -473,759 after tax. For that financial year HORREA recorded a gross margin of € 256,832 and equity of € -1.3 million. Compared with financial year 2024, the result moved from € -402,088 to € -473,759. 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 February 18, 2026.
€ -1.3 million
▼ € 473,759 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -473,759
▼ 18 % more loss than in 2024
Profit after tax over the fiscal year.
€ 59,102
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.3 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 6.9 million
▲ 19% vs 2024
€ 63,650 is repaid this year. At this pace the long-term loan is gone in ≈ 73 years.
€ 192,389
▲ 108% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 280,255 | € 241,212 | € 282,289 | € 256,832 | ▼ 9% |
| Profit after taxes | € -70,081 | € -348,839 | € -402,088 | € -473,759 | ▼ € 71,671 |
| Equity | € -65,081 | € -413,920 | € -816,008 | € -1,289,767 | ▼ € 473,759 |
| Total debts | € 5,587,088 | € 5,766,265 | € 6,070,639 | € 7,933,000 | ▲ 31% |
| Cash | € 177,447 | € 183,974 | € 0 | € 59,102 | |
| Land & buildings | € 5,316,645 | € 5,130,568 | € 5,216,882 | € 6,330,844 | ▲ 21% |
| Retained profit | € -70,081 | € -418,920 | € -821,008 | € -1,294,767 | ▼ € 473,759 |
| Bank debt | € 5,153,500 | € 5,588,500 | € 5,747,662 | € 6,863,976 | ▲ 19% |
| Balance sheet total | € 5,522,008 | € 5,352,345 | € 5,254,631 | € 6,643,233 | ▲ 26% |
Key figures of HORREA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to HORREA?
What happened at HORREA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 473,759. filed late Source: NBB ↗
- JL SQUARE SRL became a director. NBB
- New establishment in Elsene. KBO
- NESTIN SRL became a director. NBB
- Julien VANDELEENE SRL became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 70,081 loss in 2022 to € 473,759 loss in 2025.
Management
Behind HORREA are NESTIN SRL, JL SQUARE SRL and Julien VANDELEENE SRL. The same people are also behind Tennis Club de Belgique Courts Couverts. NESTIN SRL is also behind GESTIVAN, LASTLINK, H&H Real Estate, Brussels hub1 and LASTLINK MANAGEMENT. JL SQUARE SRL is also behind LE VIEUX LOGIS, PORCELYNEGOED, LAMSOUL, LES CRESSES and MATHIMMO. Julien VANDELEENE SRL is also behind IMSONIC, GESTIVAN, LASTLINK, Brussels hub1 and MODALIZY.
Directors
According to the 2025 annual accounts
Director · represented by Gosse Guillaume
Also active at: Tennis Club de Belgique Courts Couverts, GESTIVAN, LASTLINK, H&H Real Estate, Brussels hub1, LASTLINK MANAGEMENT, LASTLINK PROPERTIES, BRUSSELS WEST HUB +2 more
since 2020
Director · represented by Lhoist Jérôme
Also active at: Tennis Club de Belgique Courts Couverts, LE VIEUX LOGIS, PORCELYNEGOED, LAMSOUL, LES CRESSES, MATHIMMO, LE BESTIN, IMZ +14 more
since 2023
Director · represented by Vandeleene Julien
Also active at: Tennis Club de Belgique Courts Couverts, IMSONIC, GESTIVAN, LASTLINK, Brussels hub1, MODALIZY, LASTLINK MANAGEMENT, LASTLINK PROPERTIES +2 more
since 2020
Establishments
Establishment units
Physical locations of this company
Maliestraat 50
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 49 companies are registered at this address.
All companies at this address →D'Ieteren Group
D'Ieteren Micromobility
€ 3.8 million revenue · 2024
D'IETEREN IMMO
€ 28.6 million revenue · 2025
Building Design
IMSONIC same network
€ -13,168 gross margin · 2025
+44 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
- 0759.469.814
- VAT number
- BE 0759.469.814
- Registered office
- Maliestraat 50, 1050 Elsene
- Names & denominations
- HORREA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 December 2020
- Peppol
- Active · Active since 5 Jan 2021
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen