ACTIVE

Marcel Horowitz

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Financial year 2025 · closed on 30/12/2025

Net result

205 k €

-32.1% YoY

Gross margin

411,4 k €

-11.3% YoY

Equity

1,9 M €

+3.9% YoY

Workforce

1,9 ETP

-5.0% YoY

What does Marcel Horowitz do?

Marcel Horowitz is a Public limited company incorporated in 1967. Its main activity is: Activities of insurance agents and brokers. Its registered office is in Antwerpen. It employs on average 1,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0404.476.142

Incorporation

14/04/1967

Legal form

Public limited company

Registered office

Schupstraat 9-11
2018 Antwerpen · FlandreSee on map

Contributed capital

61 973,38 €

Latest accounts

30/12/2025

Average workforce

1,9 ETP

Activities (NACE)

66220Activities of insurance agents and brokers· main 66220Activities of insurance agents and brokers 67201Agents et courtiers d'assurances

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	411,4 k €	-11.3%	463,9 k €	-1.9%	472,8 k €	+21.1%	390,4 k €	-8.4%	426 k €	-8.6%	466,1 k €	+13.7%	409,8 k €	-11.9%	465,1 k €	+1.1%	460,2 k €	-8.1%	500,9 k €	+6.7%	469,4 k €	+8.9%	431,1 k €	+0.5%	429 k €	+8.0%	397,4 k €	+5.3%	377,3 k €	+3.2%	365,6 k €	-2.5%	375,1 k €	+5.3%	356,3 k €	+6.9%	333,1 k €
EBITDA	285,9 k €	-18.6%	351 k €	-4.3%	366,7 k €	+23.3%	297,3 k €	-6.3%	317,2 k €	-16.1%	377,9 k €	+27.8%	295,7 k €	-14.9%	347,5 k €	+1.0%	344,2 k €	-9.1%	378,7 k €	+13.1%	334,8 k €	+11.3%	300,9 k €	+4.1%	289 k €	+11.1%	260,2 k €	+10.9%	234,7 k €	-4.5%	245,8 k €	+12.8%	217,9 k €	+11.6%	195,3 k €	+17.7%	166 k €
Operating result	283,2 k €	-18.8%	348,7 k €	-4.2%	363,9 k €	+25.4%	290,2 k €	-6.9%	311,7 k €	-16.4%	372,7 k €	+28.5%	290 k €	-15.2%	342,1 k €	-0.3%	343,1 k €	-7.1%	369,4 k €	+13.8%	324,7 k €	+12.6%	288,5 k €	+4.7%	275,5 k €	+9.8%	251 k €	+10.4%	227,3 k €	-0.6%	228,6 k €	+16.7%	196 k €	+13.4%	172,9 k €	+29.7%	133,3 k €
Net result	205 k €	-32.1%	301,8 k €	+0.1%	301,4 k €	+30.6%	230,7 k €	-2.6%	236,8 k €	-7.9%	257,2 k €	+21.6%	211,6 k €	-6.8%	227,1 k €	+12.8%	201,4 k €	-32.2%	297,1 k €	+8.0%	275,2 k €	+30.8%	210,4 k €	-5.6%	222,8 k €	+9.2%	204 k €	+3.1%	197,9 k €	+12.5%	175,9 k €	+4.2%	168,8 k €	+71.2%	98,6 k €	+46.8%	67,2 k €
Balance sheet
Equity	1,9 M €	+3.9%	1,9 M €	+13.4%	1,6 M €	+13.8%	1,4 M €	+13.4%	1,3 M €	+10.4%	1,2 M €	+28.6%	899 k €	+27.1%	707,4 k €	+46.0%	484,6 k €	+115%	225,1 k €	+16.6%	193 k €	+8.6%	177,8 k €	+3.1%	172,4 k €	+1.7%	169,6 k €	-8.6%	185,6 k €	+10.6%	167,7 k €	+10.4%	151,8 k €	+6.2%	143 k €	-22.4%	184,4 k €
Total assets	2,3 M €	+6.2%	2,2 M €	+13.4%	1,9 M €	+5.9%	1,8 M €	+8.5%	1,7 M €	+1.5%	1,6 M €	+11.7%	1,5 M €	+14.6%	1,3 M €	+28.1%	1 M €	+2.5%	981,2 k €	+6.2%	924 k €	+11.3%	830,3 k €	+8.8%	763,3 k €	+12.4%	679 k €	-7.4%	733,4 k €	+7.0%	685,6 k €	-15.1%	807,1 k €	+5.7%	763,5 k €	-9.2%	840,6 k €
Cash	771,4 k €	-19.7%	960,1 k €	-1.2%	971,4 k €	-14.2%	1,1 M €	+15.1%	984,3 k €	-34.3%	1,5 M €	+30.1%	1,2 M €	+14.3%	1 M €	+48.0%	680,6 k €	+5.6%	644,7 k €	+19.0%	541,6 k €	+15.0%	471,1 k €	+14.5%	411,4 k €	+27.4%	323 k €	+22.0%	264,7 k €	-1.0%	267,3 k €	+4.0%	257,1 k €	+89.5%	135,7 k €	-50.7%	275,4 k €
Debts	374 k €	+27.1%	294,1 k €	+7.4%	273,9 k €	-25.5%	367,5 k €	-7.2%	396 k €	-19.5%	492 k €	-14.6%	576,4 k €	-0.7%	580,2 k €	+11.5%	520,4 k €	-31.1%	755,8 k €	+3.5%	730,6 k €	+12.0%	652,3 k €	+10.4%	590,7 k €	+16.0%	509,2 k €	-7.0%	547,8 k €	+5.8%	517,7 k €	-21.0%	655,1 k €	+5.6%	620,3 k €	-5.4%	656,1 k €
Other
Workforce	1,9 ETP	-5.0%	2,0 ETP	+11.1%	1,8 ETP	0.0%	1,8 ETP	-28.0%	2,5 ETP	0.0%	2,5 ETP	-21.9%	3,2 ETP	-5.9%	3,4 ETP	+13.3%	3,0 ETP	-3.2%	3,1 ETP	-11.4%	3,5 ETP	+2.9%	3,4 ETP	-19.0%	4,2 ETP	-10.6%	4,7 ETP	-4.1%	4,9 ETP	0.0%	4,9 ETP	-2.0%	5,0 ETP	-21.9%	6,4 ETP	+4.9%	6,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/12/2025 · 3 active · 13 ended

Active mandates

Katia Schwarz (2026)

Director

Active

Olivier Harroy (2026)

Managing director

Active

Sabine Strosberg (2026)

Director

Active

Ended mandates

Katia (2010) Schwarz

Director

Ended

Katia Schwarz (2016)

Director

Ended

Katia Schwarz (2020)

Director

Ended

Marcel (2010) Harroy

Director

Ended

At this address

Other companies at this address

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BELGIAN DIAMOND EXPORT CORPORATION● Active	0415.436.647
CHINTAMANI● Active	0873.540.329
CR DIAMOND POLISHING WORKS● Active	0429.780.373
DARYA DIAMONDS● Active	1019.302.130
D.D. Manufacturing● Bankrupt	0430.019.509
DDM HOLDING● Bankrupt	0886.952.261
De Glint● Active	1007.305.309
DEV GEMS● Active	0873.988.410
DIAMOND CENTER● Active	0423.840.411
DONATO● Active	0450.017.741
EXCELLGEM● Active	0879.382.402
EXELCO● Bankrupt	0454.661.071
EXELCO SOURCING● Bankrupt	0893.075.337
FALCON DIAMONDS● Active	0842.383.632
FLANDERS DIAMOND MANUFACTURING● Active	0887.339.271
F.T.K. WORLDWIDE MFG● Bankrupt	0866.077.960
GRUNBERGER DIAMONDS● Active	0477.885.049

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Closing of the financial year	30/12/2025	30/12/2024	30/12/2023	30/12/2022	30/12/2021	30/12/2020
Length of the financial year	13 months	13 months	13 months	13 months	13 months	13 months
Filing date	25/05/2026	24/05/2025	27/05/2024	05/06/2023	31/05/2022	23/06/2021
General meeting	04/05/2026	02/05/2025	03/05/2024	05/05/2023	06/05/2022	28/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/12/2025	04/05/2026	25/05/2026	Dutch	PDF
Abridged model	30/12/2024	02/05/2025	24/05/2025	Dutch	PDF
Abridged model	30/12/2023	03/05/2024	27/05/2024	Dutch	PDF
Abridged model	30/12/2022	05/05/2023	05/06/2023	Dutch	PDF
Abridged model	30/12/2021	06/05/2022	31/05/2022	Dutch	PDF
Abridged model	30/12/2020	28/05/2021	23/06/2021	Dutch	PDF
Abridged model	30/12/2019	12/06/2020	10/07/2020	Dutch	PDF
Abridged model	30/12/2018	03/05/2019	13/06/2019	Dutch	PDF
Abridged model	30/12/2017	04/05/2018	24/05/2018	Dutch	PDF
Abridged model	30/12/2016	05/05/2017	17/05/2017	Dutch	PDF
Abridged model	30/12/2015	06/05/2016	26/05/2016	Dutch	PDF
Abridged model	30/12/2014	04/05/2015	21/05/2015	Dutch	PDF
Abridged model	30/12/2013	02/05/2014	28/05/2014	Dutch	PDF
Abridged model	30/12/2012	03/05/2013	29/05/2013	Dutch	PDF
Abridged model	30/12/2011	04/05/2012	29/05/2012	Dutch	PDF
Abridged model	30/12/2010	06/05/2011	31/05/2011	Dutch	PDF
Abridged model	30/12/2009	07/05/2010	28/05/2010	Dutch	PDF
Abridged model	30/12/2008	04/05/2009	28/05/2009	Dutch	PDF
Abridged model	30/12/2007	02/05/2008	21/05/2008	Dutch	PDF
Abridged model	30/12/2006	04/05/2007	31/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/12/2025 · 3 active · 13 ended

Active mandates

Katia Schwarz (2026)

Director

Active

Olivier Harroy (2026)

Managing director

Active

Sabine Strosberg (2026)

Director

Active

Ended mandates

Katia (2010) Schwarz

Director

Ended

Katia Schwarz (2016)

Director

Ended

Katia Schwarz (2020)

Director

Ended

Marcel (2010) Harroy

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/06/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/05/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/06/2010
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/05/2008
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares15/01/2007
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates16/11/2004
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/04/2004
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025205 k €↓
2024
Annual accounts 2024301,8 k €↑
2023
Annual accounts 2023301,4 k €↑
2022
Annual accounts 2022230,7 k €↓
2021
Annual accounts 2021236,8 k €↓
2020
Annual accounts 2020257,2 k €↑
2019
Annual accounts 2019211,6 k €↓
2018
Annual accounts 2018227,1 k €↑
2017
Annual accounts 2017201,4 k €↓
2015
Annual accounts 2015297,1 k €↑
2014
Annual accounts 2014275,2 k €↑
2013
Annual accounts 2013210,4 k €↓
2012
Annual accounts 2012222,8 k €↑
2011
Annual accounts 2011204 k €↑
2010
Annual accounts 2010197,9 k €↑
2009
Annual accounts 2009175,9 k €↑
2008
Annual accounts 2008168,8 k €↑
2007
Annual accounts 200798,6 k €↑
2006
Annual accounts 200667,2 k €
14/04/1967
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Marcel Horowitz

Overview

What does Marcel Horowitz do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline