Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 12 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
SUNHORSE from Héron, company number BE0870083763, closed financial year 2025 with a result of € -4,317 after tax. For that financial year SUNHORSE recorded a gross margin of € 13,890 and equity of € 19,806. Compared with financial year 2024, the result moved from € 26,509 to € -4,317. 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 June 8, 2026.
€ 19,806
▼ 18% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4,317
▼ still € 26,509 profit in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € 1,256.
People and assets in 2025
€ 5,632
▼ 41% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 24,605
▼ 22% vs 2024
€ 7,214 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 2,203
▲ € 2,202 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1,947
▼ 44% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 41,999 | € 2,163 | € 48,127 | € 13,890 | ▼ 71% |
| Profit after taxes | € 15,599 | € -22,780 | € 26,509 | € -4,317 | ▼ € 30,827 |
| Equity | € 34,694 | € 11,914 | € 24,123 | € 19,806 | ▼ 18% |
| Total debts | € 37,834 | € 25,007 | € 49,303 | € 28,754 | ▼ 42% |
| Cash | € 188 | € 5,411 | € 5,707 | - | |
| Retained profit | € 16,144 | € -6,636 | € 5,573 | € 1,256 | ▼ 77% |
| Dividend | € 0 | € 0 | € 14,300 | € 0 | ▼ 100% |
| Bank debt | € 15,470 | € 5,383 | € 31,511 | € 24,605 | ▼ 22% |
| Balance sheet total | € 72,528 | € 36,921 | € 73,426 | € 48,560 | ▼ 34% |
Key figures of SUNHORSE, 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 SUNHORSE?
What happened at SUNHORSE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 4,317 (▼ € 30,827 vs 2024). Source: NBB ↗
- RAPHAEL BORBOUSE became a director. NBB
- ANNE-SOPHIE HELLIN became a director. NBB
- New establishment in Namur. KBO
- Start of the company according to the CBE. KBO
In short
From € 15,599 profit in 2022 to € 4,317 loss in 2025.
Paid € 9,126 in corporate taxes since 2022.
Best year ever: 2024, with € 26,509 profit.
Paid out € 14,300 in dividends to the owners in total.
Management
Behind SUNHORSE are RAPHAEL BORBOUSE and ANNE-SOPHIE HELLIN.
Directors
According to the 2025 annual accounts
RAPHAEL BORBOUSE
Director
since 2023
ANNE-SOPHIE HELLIN
Director
since 2023
Establishments
Establishment units
Physical locations of this company
Rue de la Sarthe 9 box A
4217 Héron
Rue de Jausse(WD) 181
5100 Namur
Active since 19 November 2004
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0870.083.763
- VAT number
- BE 0870.083.763
- Registered office
- Rue de la Sarthe 9 bus A, 4217 Héron
- Names & denominations
- SUNHORSE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 19 November 2004
- Peppol
- Active · Active since 14 Oct 2025
- Activities · NACE
Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit