2NIGHT
ActiveSummary
The computed 12-month bankruptcy probability of 2NIGHT is 2.3% (moderate). The 2025 annual accounts show equity of €52,913 and a net result of €28,511. Its solvency ranks better than 35% of 17,021 sector peers (NACE 56, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency signals. The KBO does carry 1 administrative register entry.
Overview
Overview
Official details
Source: KBO- Status
- Active since 17-07-2024 Normal situation
- Registered office
- 15 active companies are registered at this address Source: KBO register, as of 5 November 2026.
- Activity
- Cafés and bars NACE 56301
- Joint committee
- 302 Hotels and catering · annual accounts 2025
- Establishment unit
- 2.362.701.947 8300 Knokke-Heist, since 17-07-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 16-12-2025
Board and ownership
Board
- WYBOUW HenriDirector
- Mattheeuws TreesDirector
- Wybouw StevenDirector
Shareholders
- WYBOUW Henrifounderdeed of 19-07-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.3%
Annual accounts 2025
- Gross margin
- €89,421
- ▲ 169%
- Turnover
- ≈ €320,000
- estimated
- Profit
- €28,511
- ▲ 54.9%
- Equity
- €52,913
- ▲ 117%
- Total assets
- €453,687
- ▲ 213%
- Employees on 31-12-2025
- 4
- 2025 accounts filed 28 days after the deadline
Score breakdownraises riskSector: Food and beverage service activities (NACE 56)Founded in 2024Ex-officio strike-off in the KBOlowers riskLiquidity: current ratio 0.90, cash €263,473Show the evidence
Checked score
Score 2025
54
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 60% of micro companies in food and beverage service (NACE 56)
Financial strength · tick: 2024
Average
Solvency
37-5
equity 11.7% of total assets
Liquidity
51+17
short-term debt 88.3% · cash 58.1%
Profitability
77-8
return on assets 6.3%
Bankruptcy probability within 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
08-2025: 7.2%highest value
09-2025: 4.7%▼ -2.5 percentage points vs 08-2025
10-2025: 4.7%● unchanged vs 09-2025
11-2025: 4.9%▲ +0.2 percentage points vs 10-2025
12-2025: 5.0%▲ +0.1 percentage points vs 11-2025
01-2026: 5.0%● unchanged vs 12-2025
02-2026: 5.3%▲ +0.3 percentage points vs 01-2026
03-2026: 5.3%● unchanged vs 02-2026
04-2026: 5.6%▲ +0.3 percentage points vs 03-2026
05-2026: 5.5%▼ -0.1 percentage points vs 04-2026
06-2026: 5.4%▼ -0.1 percentage points vs 05-2026
07-2026: 5.9%▲ +0.5 percentage points vs 06-2026
08-2026: 7.2%▲ +1.3 percentage points vs 07-2026
09-2026: 2.3%▼ -4.9 percentage points vs 08-2026lowest value
10-2026: 2.3%● unchanged vs 09-2026lowest value
11-2026: 2.3%● unchanged vs 10-2026lowest value
Credit of up to €2,500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.9 (0.3 in 2024), below 1. Short-term debt is 88.3% and cash 58.1% of total assets. 88.3% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 35% of them on solvency, 53% on liquidity, 60% on profitability and 91% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · 2025 accounts filed 28 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
28 days late
2024
28 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 28 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
raises risk · Administrative warnings in the KBO publications
The FPS Economy published 1 notice about the company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
UBO non-compliance
Searched, nothing found (1)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00457177.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 2 filings
Turnover
≈ €320,000
Estimated: probably between €270,000 and €440,000
Total assets
€453,687▲ 213%
2024 · €145,099
Net result
€28,511▲ 54.9%
2024 · €18,402
Working capital
-€39,883▲ 52.6%
2024 · -€84,156
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€36,633
▲ 60.1%
2025
20242025
Net result
€28,511
▲ 54.9%
2025
highest quarter of the sector
20242025
Equity
€52,913
▲ 117%
2025
middle half of the sector
20242025
Total assets
€453,687
▲ 213%
2025
highest quarter of the sector
20242025
Debt
€400,774
▲ 232%
2025
20242025
Working capital
-€39,883
▲ 52.6%
2025
lowest quarter of the sector
20242025
Solvency
11.7%
▼ 5.2pp
2025
middle half of the sector
20242025
Current ratio
0.90
▲ 0.60
2025
middle half of the sector
20242025
Return on assets (ROA)
6.3%
▼ 6.4pp
2025
middle half of the sector
20242025
Staff (FTE)
1.8
2025
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result€22,877-€36,633▲ 60.1%
Net result€18,402within the sector's middle half-€28,511above the sector's middle half▲ 54.9%
Equity€24,402within the sector's middle half-€52,913within the sector's middle half▲ 117%
Total assets€145,099within the sector's middle half-€453,687above the sector's middle half▲ 213%
Debt€120,697-€400,774▲ 232%
Working capital-€84,156below the sector's middle half--€39,883below the sector's middle half▲ 52.6%
Solvency16.8%within the sector's middle half-11.7%within the sector's middle half▼ 5.2pp
Current ratio0.30below the sector's middle half-0.90within the sector's middle half▲ 0.60
Return on assets (ROA)12.7%within the sector's middle half-6.3%within the sector's middle half▼ 6.4pp
Staff (FTE)1.8
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 60% higher than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €453,687
Fixed assets
€92,796 ▼ 14.5%
Current assets
€360,892 ▲ 888%
Equity and liabilities €453,687
Equity
€52,913 ▲ 117%
Debt
€400,774 ▲ 232%
Debt's share of the balance-sheet total rises from 83.2% to 88.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€59,872▲
2024 · €29,317
Cash flow
€51,750▲
2024 · €24,843
Quick ratio
0.86▲
2024 · 0.30
Debt to equity
7.57▲
2024 · 4.95
ROE
53.9%▼
2024 · 75.4%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€400,774▲
2024 · €120,697
Income taxes
€8,090▲
2024 · €4,486
Staff costs
€22,651▲
2024 · €416
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 4 |
| full-time | 1 |
| part-time | 3 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 0.6 |
| On a permanent contract | 4 |
| Joined | 8 |
| Left | 4 |
| Training hours | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €10,876 | €7,476 |
| Intangible fixed assets | €104,123 | - |
| Depreciation and write-downs of the year | €6,441 | €23,239 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €225 awarded · €225 paidAnnual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €416 | €22,651 | ▲ 54× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,441 | €23,239 | ▲ 261% |
| Other operating charges640/8 | €3,558 | €6,898 | ▲ 93.9% |
| Gross operating margin9900 | €33,292 | €89,421 | ▲ 169% |
| Operating profit (loss)9901 | €22,877 | €36,633 | ▲ 60.1% |
| Financial income75/76B | €23 | €0 | ▼ 99.7% |
| Recurring financial income75 | €23 | €0 | ▼ 99.7% |
| Financial charges65/66B | €11 | €33 | ▲ 199% |
| Recurring financial charges65 | €11 | €33 | ▲ 199% |
| Profit (loss) for the period before taxes9903 | €22,888 | €36,601 | ▲ 59.9% |
| Income taxes67/77 | €4,486 | €8,090 | ▲ 80.3% |
| Profit (loss) for the period9904 | €18,402 | €28,511 | ▲ 54.9% |
| Profit (loss) for the period to be appropriated9905 | €18,402 | €28,511 | ▲ 54.9% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €145,099 | €453,687 | ▲ 213% |
| Fixed assets21/28 | €108,559 | €92,796 | ▼ 14.5% |
| Intangible fixed assets21 | €98,333 | €78,333 | ▼ 20.3% |
| Tangible fixed assets22/27 | €10,225 | €14,462 | ▲ 41.4% |
| Plant, machinery and equipment23 | €10,225 | €9,797 | ▼ 4.2% |
| Furniture and vehicles24 | - | €4,666 | - |
| Current assets29/58 | €36,541 | €360,892 | ▲ 888% |
| Stocks and contracts in progress3 | - | €15,338 | - |
| Stocks30/36 | - | €15,338 | - |
| Amounts receivable within one year40/41 | - | €27,299 | - |
| Trade receivables40 | - | €27,299 | - |
| Cash at bank and in hand54/58 | €34,628 | €263,473 | ▲ 661% |
| Deferred charges and accrued income490/1 | €1,913 | €54,781 | ▲ 29× |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €145,099 | €453,687 | ▲ 213% |
| Equity10/15 | €24,402 | €52,913 | ▲ 117% |
| Contributions10/11 | €6,000 | €6,000 | = |
| Reserves13 | €18,402 | €46,913 | ▲ 155% |
| Distributable reserves133 | €18,402 | €46,913 | ▲ 155% |
| Amounts payable17/49 | €120,697 | €400,774 | ▲ 232% |
| Amounts payable within one year42/48 | €120,697 | €400,774 | ▲ 232% |
| Trade debts44 | €11,132 | €137,783 | ▲ 12× |
| Suppliers440/4 | €11,132 | €137,783 | ▲ 12× |
| Taxes, remuneration and social security45 | €14,477 | €29,177 | ▲ 102% |
| Taxes450/3 | €14,477 | €23,900 | ▲ 65.1% |
| Remuneration and social security454/9 | - | €5,278 | - |
| Other amounts payable47/48 | €95,088 | €233,813 | ▲ 146% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €18,402 | €28,511 | ▲ 54.9% |
| + Depreciation and write-downs630 | €6,441 | €23,239 | ▲ 261% |
| Operating cash flow (approximation) | €24,843 | €51,750 | ▲ 108% |
| Investment in fixed assets (approximation) | - | -€7,476 | - |
| Change in cash | - | €228,846 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,976 companies had the same profile as 2NIGHT has now. Two years later, 94.4% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
94.4%
was still going
1.8%
stopped otherwise
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 2NIGHT itself: 2.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for 2NIGHT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Directors
3 directors, since incorporation
WYBOUW Henri
Current
Director (not named in the articles) · appointed by deed of 19-07-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 28-08-2026
Mattheeuws Trees
Current
Director · listed in the 2025 annual accounts, filed on 28-08-2026
Wybouw Steven
Current
Director · listed in the 2025 annual accounts, filed on 28-08-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 19-07-2024Owners and capital
Shareholders
At incorporation
deed of 19-07-2024 ↗
- WYBOUW Henri sole founder · 100% at incorporation
Capital transactions
Capital over time
- 19-07-2024 Incorporation · €6,000 · 100 shares
Mandate history
3 people, 3 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| WYBOUW Henri |
|
| Mattheeuws Trees |
|
| Wybouw Steven |
|
Network & group
2NIGHT shares no director with another company.
Companies at the same address
14 other companies- Celabo Registered office · since 20-03-2025Founded in 2025 1021.765.435
- DELPHY Registered office · since 20-03-2025Founded in 2025 1022.109.784
- Key2party Registered office · since 01-04-2021Founded in 2021 · 5.4 FTE (2025) · negative equity 0763.969.921
- 28 ESTATE Registered office · since 03-09-2020Founded in 2020 · total assets €6.0m (2025) 0753.653.079
- BOMAMO Registered office · since 03-09-2020Founded in 2020 · total assets €10.2m (2025) 0753.657.732
- DLANCE Registered office · since 03-09-2020Founded in 2020 · total assets €14.5m (2025) 0753.660.009
- INVEST 28 Registered office · since 03-09-2020Founded in 2020 · total assets €6.0m (2025) 0753.659.217
- MAMOBO Registered office · since 03-09-2020Founded in 2020 · total assets €6.9m (2025) 0753.660.504
- MOMABO Registered office · since 03-09-2020Founded in 2020 · total assets €12.1m (2025) 0753.656.346
- Hollevoet, Saskia (sole trader) Establishment · since 15-05-2014Founded in 2014 0553.939.977
Connections & network
3 current directorsThe network starts from the directors of 2NIGHT. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Deeds, filings and financial milestones
Deadline for the 2026 accounts:
2026
28-08
micro format · 28 days late
2025
28-08
micro format · 28 days late
14-02
KBO administration
UBO non-compliance
effective 03-02-2025
2024
19-07
Gazette deed
IncorporationFounding capital of €6,000, 100 shares · Founder: WYBOUW Henri · Appointment: WYBOUW Henri (director)5 points ▸
Gazette deed
Incorporation
Founding capital of €6,000, 100 shares · Founder: WYBOUW Henri · Appointment: WYBOUW Henri (director)5 points ▸
- Registered office clause, Rederskaai 18 bus 4, 8380 Brugge
- Director appointment, WYBOUW Henri (director (not named in the articles))
- Incorporation, 16-07-2024
- Founder, WYBOUW Henri
- Founding capital, €6,000, 100 shares
- The deed holds 2 more points.
SignalGazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
2NIGHT in Dutch
Enterprise number
1011.662.983
Legal form
Private limited company
Status
Active, normal situation
Founded
17-07-2024
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 19-07-2024 (in Dutch)Name clauseThe company operates under this name according to its articles.
2NIGHT
deed of 19-07-2024 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaamse Gewest”
deed of 19-07-2024 (in Dutch)Registered office and establishments
Registered office
Rederskaai 18, 8380 Bruges, Belgium
Establishment unit
2NIGHT, Alfred Verweeplein 21, 8300 Knokke-Heist since 17-07-2024 · unit number 2.362.701.947
Activities
NACEBEL 2025VAT activities
56301
Cafés and bars main activity
Social security (RSZ) activities
56301
Cafés and bars main activity
Joint committee
302 Hotels and catering annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 19-07-2024 (in Dutch)
“De aankoop,verkoop,import,export,de fabricage,het verhuren van feestmateriaal in de ruimste zin van het woord(zoals tenten,mobiele…”
25 activities
- De aankoop,verkoop,import,export,de fabricage,het verhuren van feestmateriaal in de ruimste zin van het woord(zoals tenten,mobiele wc's,stoelen,tafels,enzovoort)
- Het organiseren van evenementen van A tot Z,in de meest ruime zin van het woord
- Alle activiteiten van een “feestarchitect”
- Het bouwen en opzetten van podia,stages,licht en klank,en dergelijke meer
- Alle activiteiten op gebied van de horeca
- Alle activiteiten die gepaard gaan met goederenvervoer,transport,koerier,en dergelijke meer,dit met zowel personenwagens,lichte vracht,camions,met boten,helikopter en/of vliegtuigen
- Alle activiteiten die gepaard gaan met personenvervoer,taxidiensten,transport,koerier,en dergelijke meer,dit met zowel personenwagens,lichte vracht,camions,met boten,helikopter en/of vliegtuigen
- Alle activiteiten van takel- en depannagediensten
- Alle aankoop van voertuigen,personenwagens,lichte vracht,camions,…
- Alle activiteiten in de bouwsector
- Alle activiteiten van een managementvennootschap
- Alle activiteiten met betrekking tot bedrijfsleiding,algemeen management,marketing,technische leiding,financiën & controlling,personeelszaken,production line,inclusief het opzetten van allerhande rapporteringen,procedures en controles
- Alle activiteiten met betrekking tot marketing,de branding van een merk,logo,bedrijf,en dergelijke meer
- Alle activiteiten met betrekking tot de commercialisering van een bedrijf
- Alle activiteiten met betrekking tot de publiciteit en de reclame
- Alle activiteiten van een patrimoniumvennootschap
- De organisatie van feesten,meetings,conferenties,panelgesprekken,festiviteiten,manifestaties,en dergelijke meer,zowel privatief of met commerciële doeleinden
- Het optreden als commissionair
- Het optreden als tussenpersoon in de handel
- Alle activiteiten als consultingbureau,managementbureau,adviesbureau,raadgevend bureau,het lesgeven,het houden van voordrachten,en dergelijke meer
- Alle activiteiten op gebied van de aankoop,verkoop,huur en verhuur,bouw en verbouwing van allerhande roerende en onroerende goederen,dit voor eigen rekening als voor rekening van derden
- Het schrijven van artikelen,blogs,technische en functionele documentatie,en dergelijke meer
- Alle activiteiten verbonden aan auteursrechtelijke en intellectuele eigendommen
- De aan- en verkoop,import en export,klein- en groothandel van allerhande machines,producten en materialen,goederen,en dergelijke meer,die gepaard gaan met voormelde items
- Het aangaan van leningen en kredietopeningen;het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren,onder om het even welke vorm;in de meest ruime zin alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan krediet- en/of andere financiële instellingen
Invoicing and payment
VAT number
BE 1011.662.983
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
“EXTERNE VERTEGENWOORDIGINGSMACHT: Elke bestuurder afzonderlijk, ook wanneer er meerdere zijn, is bevoegd om de vennootschap in en buiten…”
deed of 19-07-2024 (in Dutch)Recognitions · licences · registrations
Food safety, FASFC
1 siteKnokke-Heistunit number 2.362.701.947
Sites & property
Location
Buildings and parcels at the addresses
Ground area
668 m²
Building footprint
664 m²
Building volume
6,224 m³
Tallest building: 22.9 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31812P0047/00A009 | Flanders | 490 m² | 1 · 489 m² | 18.3 m · 2 |
| 31332F0008/00_000indicative | Flanders | 179 m² | 1 · 175 m² | 22.9 m · 5 |