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 2023 and 2024.
-
Tight liquidity NBB
Cash and receivables cover 4 % of short-term debt in 2024; threshold 65 %.
-
Busy address KBO
58 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2024
HORIZON CONSTRUCT from Liège, company number BE0865493881, closed financial year 2024 with a result of € -687,828 after tax. For that financial year HORIZON CONSTRUCT recorded revenue of € 2.3 million and equity of € -6.6 million. Compared with financial year 2023, the result moved from € -1.1 million to € -687,828. 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 August 29, 2025.
€ -6.6 million
▼ € 687,828 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -687,828
▲ 40 % less loss than in 2023
Profit after tax over the fiscal year.
€ 43,296
▼ 78% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -8.1 million.
Debts at end 2024
€ 1.2 million
▲ 83% vs 2023
Loans from banks and other lenders, long and short.
€ 514,058
▲ 16% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 141,352
▲ 31% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 2,259,339 | |
| Gross margin | € -1,456,676 | € -466,445 | € -827,289 | € -380,341 | ▲ € 446,947 |
| Profit after taxes | € -1,702,695 | € -718,709 | € -1,140,013 | € -687,828 | ▲ € 452,185 |
| Equity | € -4,071,221 | € -4,789,930 | € -5,929,943 | € -6,617,771 | ▼ € 687,828 |
| Total debts | € 16,173,472 | € 17,766,169 | € 16,166,409 | € 16,681,663 | ▲ 3% |
| Cash | € 96,616 | € 221,237 | € 198,698 | € 43,296 | ▼ 78% |
| Retained profit | € -5,571,221 | € -6,289,930 | € -7,429,943 | € -8,117,771 | ▼ € 687,828 |
| Bank debt | € 4,345,307 | € 1,626,236 | € 653,452 | € 1,197,762 | ▲ 83% |
| Balance sheet total | € 12,102,251 | € 12,976,239 | € 10,236,466 | € 10,063,891 | ▼ 2% |
| Employees (FTE) | 1 | - | - | - |
Key figures of HORIZON CONSTRUCT, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to HORIZON CONSTRUCT?
What happened at HORIZON CONSTRUCT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- INVEST MINGUET GESTION SA stepped down as director. NBB
- LAURENT MINGUET stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 687,828. filed late Source: NBB ↗
- INVEST MINGUET GESTION SA became a director. NBB
- LAURENT MINGUET became a director. NBB
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.7 million loss in 2021 to € 687,828 loss in 2024.
Paid € 461 in corporate taxes since 2021.
Management
The stake of HORIZON PLEIADES comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
HORIZON CONSTRUCTThe shares are held by HORIZON PLEIADES (100%).
Directors
According to the 2024 annual accounts
Director · represented by FLORENT MINGUET
Also active at: LE CYGNE BLANC, ALL THERMIC SOLUTIONS, MARTINE & Co, LES VILLAS DE BALMORAL, FLY WIN, NEXT ENERGY, FLERON CONSTRUCT, HOLDING MINGUET MORTIER +10 more
since 2020 · until 2026
LAURENT MINGUET
Director
Also active at: IMODAVE, LE CYGNE BLANC, ALL THERMIC SOLUTIONS, Invest Minguet Gestion, CHEVALIER, MARTINE & Co, CHARL, SYSTÈMES PHOTOVOLTAÏQUES +46 more
since 2020 · until 2026
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Natalis 2
4020 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 58 companies are registered at this address.
All companies at this address →ALL THERMIC SOLUTIONS same network
€ 388,558 gross margin · 2025
Invest Minguet Gestion same network
€ 827,890 revenue · 2024
CHEVALIER same network
€ -1,619 gross margin · 2025
SYSTÈMES PHOTOVOLTAÏQUES same network
€ 25,497 gross margin · 2025
Systèmes Photovoltaïques Wallons same network
€ 1.9 million gross margin · 2025
+53 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
- 0865.493.881
- VAT number
- BE 0865.493.881
- Registered office
- Rue Natalis 2, 4020 Liège
- Names & denominations
- HORIZON CONSTRUCT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 May 2004
- Peppol
- Active · Active since 16 Sept 2025
- Activities · NACE
Ontwikkeling van residentiële bouwprojecten
Projectontwikkeling voor woningbouw
Algemene bouw van residentiële gebouwen
Bouwen van individuele huizen