A.B.
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-01-2026 PDF all 24 filings
Turnover
≈ €19,000
Estimated: probably between €11,000 and €36,000
Total assets
€671,925▼ 30.7%
2024 · €969,253
Net result
-€121,312
2024 · €130,721
Working capital
€106,863▼ 52.2%
2024 · €223,355
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€105,927
2025
20192025
Net result
-€121,312
2025
lowest quarter of the sector
20192025
Equity
€158,469
▼ 43.4%
2025
middle half of the sector
20192025
Total assets
€671,925
▼ 30.7%
2025
middle half of the sector
20192025
Debt
€513,456
▼ 25.5%
2025
20192025
Working capital
€106,863
▼ 52.2%
2025
highest quarter of the sector
20192025
Solvency
23.6%
▼ 5.3pp
2025
middle half of the sector
20192025
Current ratio
1.25
▼ 0.14
2025
middle half of the sector
20192025
Return on assets (ROA)
-18.1%
▼ 31.5pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
1.6
▲ 23.1%
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€11,682--€36,061-€108,199▼ 200%-€59,168▲ 45.3%-€148,883▼ 152%€143,802-€105,927
Net result€109,716--€36,524below the sector's middle half-€113,620below the sector's middle half▼ 211%-€66,443below the sector's middle half▲ 41.5%€142,603above the sector's middle half€130,721above the sector's middle half▼ 8.3%-€121,312below the sector's middle half
Equity€223,043-€186,519within the sector's middle half▼ 16.4%€72,899within the sector's middle half▼ 60.9%€6,457below the sector's middle half▼ 91.1%€149,060within the sector's middle half▲ 23×€279,781within the sector's middle half▲ 87.7%€158,469within the sector's middle half▼ 43.4%
Total assets€294,901-€289,636within the sector's middle half▼ 1.8%€494,365within the sector's middle half▲ 70.7%€519,601within the sector's middle half▲ 5.1%€970,692above the sector's middle half▲ 86.8%€969,253within the sector's middle half▼ 0.1%€671,925within the sector's middle half▼ 30.7%
Debt€71,858-€103,117▲ 43.5%€421,466▲ 309%€513,144▲ 21.8%€821,632▲ 60.1%€689,471▼ 16.1%€513,456▼ 25.5%
Working capital€210,516-€171,345above the sector's middle half▼ 18.6%-€63,106below the sector's middle half-€113,847below the sector's middle half▼ 80.4%-€41,993within the sector's middle half▲ 63.1%€223,355above the sector's middle half€106,863above the sector's middle half▼ 52.2%
Solvency75.6%-64.4%above the sector's middle half▼ 11.2pp14.7%within the sector's middle half▼ 49.7pp1.2%below the sector's middle half▼ 13.5pp15.4%within the sector's middle half▲ 14.1pp28.9%within the sector's middle half▲ 13.5pp23.6%within the sector's middle half▼ 5.3pp
Current ratio3.94-2.70above the sector's middle half▼ 1.240.82within the sector's middle half▼ 1.890.72within the sector's middle half▼ 0.090.94within the sector's middle half▲ 0.221.39within the sector's middle half▲ 0.451.25within the sector's middle half▼ 0.14
Return on assets (ROA)37.2%--12.6%below the sector's middle half▼ 49.8pp-23.0%below the sector's middle half▼ 10.4pp-12.8%below the sector's middle half▲ 10.2pp14.7%above the sector's middle half▲ 27.5pp13.5%within the sector's middle half▼ 1.2pp-18.1%below the sector's middle half▼ 31.5pp
Staff (FTE)0.3below the sector's middle half0.9below the sector's middle half▲ 200%0.6below the sector's middle half▼ 33.3%1.3below the sector's middle half▲ 117%1.6below the sector's middle half▲ 23.1%
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 a loss of €105,927, after a profit of €143,802 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €671,925
Fixed assets
€132,367 ▼ 21.5%
Current assets
€539,558 ▼ 32.6%
Equity and liabilities €671,925
Equity
€158,469 ▼ 43.4%
Debt
€513,456 ▼ 25.5%
Debt's share of the balance-sheet total rises from 71.1% to 76.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€68,125▼
2024 · €181,431
Cash flow
-€83,509▼
2024 · €168,351
Quick ratio
1.08▼
2024 · 1.16
Debt to equity
3.24▲
2024 · 2.46
ROE
-76.6%▼
2024 · 46.7%
Interest coverage
-3.64▼
2024 · 10.91
Debt ≤ 1 year
€432,695▼
2024 · €577,200
Debt > 1 year
€68,437▼
2024 · €91,143
Income taxes
€194▲
2024 · €149
Staff costs
€60,545▲
2024 · €56,734
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 1 | 2 | 2 |
| full-time | - | 0 | 0 | 0 |
| part-time | 2 | 1 | 2 | 2 |
| in full-time equivalents | 1.4 | 0.6 | 1.6 | 1.6 |
| Average over the year, in full-time equivalents | 0.9 | 0.6 | 1.3 | 1.6 |
| On a permanent contract | 1 | 1 | 2 | 2 |
| Joined | 38 | 0 | 2 | - |
| Left | 38 | 1 | 1 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €50,114 | €170,321 | €4,367 | €1,473 |
| Depreciation and write-downs of the year | €36,217 | €47,424 | €37,629 | €37,803 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €4,000 awarded · €4,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €2,000 | €2,000 |
| 2022 | 1 | €2,000 | €2,000 |
Schemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €34,426 | €34,341 | €56,734 | €60,545 | ▲ 6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,291 | €5,850 | €20,011 | €36,217 | €47,424 | €37,629 | €37,803 | ▲ 0.5% |
| Other operating charges640/8 | - | - | - | €7,000 | €6,473 | €143,313 | €9,383 | ▼ 93.5% |
| Gross operating margin9900 | €18,834 | -€28,039 | -€71,408 | €18,475 | -€60,645 | €381,479 | €1,803 | ▼ 99.5% |
| Operating profit (loss)9901 | €11,682 | -€36,061 | -€108,199 | -€59,168 | -€148,883 | €143,802 | -€105,927 | - |
| Financial income75/76B | - | - | - | €1,967 | €305,772 | €3,700 | €3,524 | ▼ 4.8% |
| Recurring financial income75 | €100,918 | €1,453 | €151 | €1,967 | €305,772 | €3,700 | €3,524 | ▼ 4.8% |
| Financial charges65/66B | - | - | - | €8,490 | €14,222 | €16,632 | €18,715 | ▲ 12.5% |
| Recurring financial charges65 | €1,276 | €1,582 | €5,572 | €8,490 | €14,222 | €16,632 | €18,715 | ▲ 12.5% |
| Profit (loss) for the period before taxes9903 | €111,324 | -€36,190 | -€113,620 | -€65,690 | €142,667 | €130,870 | -€121,118 | - |
| Income taxes67/77 | €1,608 | €333 | - | €752 | €64 | €149 | €194 | ▲ 30.4% |
| Profit (loss) for the period9904 | €109,716 | -€36,524 | -€113,620 | -€66,443 | €142,603 | €130,721 | -€121,312 | - |
| Profit (loss) for the period to be appropriated9905 | €109,716 | -€36,524 | -€113,620 | -€66,443 | €142,603 | €130,721 | -€121,312 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.3m | €0.3m | €0.5m | €0.5m | €1.0m | €1.0m | €0.7m | ▼ 30.7% |
| Fixed assets21/28 | €0.01m | €0.02m | €0.2m | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 21.5% |
| Intangible fixed assets21 | €0.006m | €0.004m | €0.003m | €0.001m | €0 | - | - | - |
| Tangible fixed assets22/27 | €0.007m | €0.01m | €0.2m | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 21.6% |
| Plant, machinery and equipment23 | - | - | - | €0.006m | €0.008m | €0.003m | €0.001m | ▼ 60.7% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.05m | €0.04m | €0.02m | ▼ 43.3% |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.3m | €0.1m | €0.1m | ▼ 14.2% |
| Financial fixed assets28 | - | - | €159 | €159 | €159 | €159 | €159 | = |
| Current assets29/58 | €0.3m | €0.3m | €0.3m | €0.3m | €0.6m | €0.8m | €0.5m | ▼ 32.6% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.07m | ▼ 45.9% |
| Stocks30/36 | - | - | - | €0.1m | €0.2m | €0.1m | €0.07m | ▼ 45.9% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.1m | €0.1m | €0.4m | €0.6m | €0.4m | ▼ 34.7% |
| Trade receivables40 | - | - | - | €0.02m | €0.3m | €0.5m | €0.4m | ▼ 21.5% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | €0.1m | €335 | ▼ 99.7% |
| Current investments50/53 | €5 | €5 | €5 | €5 | €5 | €5 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.008m | €0.003m | €0.01m | €0.02m | €0.04m | €0.06m | €0.07m | ▲ 20.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.004m | €0.006m | €0.001m | ▼ 75.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.3m | €0.3m | €0.5m | €0.5m | €1.0m | €1.0m | €0.7m | ▼ 30.7% |
| Equity10/15 | €0.2m | €0.2m | €0.07m | €0.006m | €0.1m | €0.3m | €0.2m | ▼ 43.4% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Issued capital100 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Non-distributable reserves130/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Legal reserve130 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €341 | €341 | €341 | €341 | = |
| Profit (loss) carried forward14 | -€0.9m | -€0.9m | -€1.0m | -€1.1m | -€0.9m | -€0.8m | -€0.9m | ▼ 15.2% |
| Amounts payable17/49 | €0.07m | €0.1m | €0.4m | €0.5m | €0.8m | €0.7m | €0.5m | ▼ 25.5% |
| Amounts payable after more than one year17 | - | - | €0.08m | €0.1m | €0.1m | €0.09m | €0.07m | ▼ 24.9% |
| Financial debts170/4 | - | - | - | €0.1m | €0.1m | €0.09m | €0.07m | ▼ 24.9% |
| Amounts payable within one year42/48 | €0.07m | €0.1m | €0.3m | €0.4m | €0.7m | €0.6m | €0.4m | ▼ 25.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.04m | €0.03m | €0.02m | ▼ 31.1% |
| Financial debts43 | - | - | - | €0.08m | €0.06m | €0.07m | €0.07m | ▲ 0.2% |
| Credit institutions430/8 | - | - | - | €0.08m | €0.06m | €0.07m | €0.07m | ▲ 0.2% |
| Trade debts44 | €0.004m | €0.03m | €0.02m | €0.01m | €0.02m | €0.007m | €0.02m | ▲ 116% |
| Suppliers440/4 | - | - | - | €0.01m | €0.02m | €0.007m | €0.02m | ▲ 116% |
| Advances received on contracts in progress46 | - | - | - | €0.005m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.02m | €0.03m | €0.03m | ▼ 8.4% |
| Taxes450/3 | - | - | - | €0.02m | €0.01m | €0.02m | €0.02m | ▼ 13.5% |
| Remuneration and social security454/9 | - | - | - | €0.007m | €0.004m | €0.005m | €0.006m | ▲ 15.7% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.5m | €0.4m | €0.3m | ▼ 32.3% |
| Accrued charges and deferred income492/3 | - | - | - | €328 | €0.03m | €0.02m | €0.01m | ▼ 41.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €109,716 | -€36,524 | -€113,620 | -€66,443 | €142,603 | €130,721 | -€121,312 | - |
| + Depreciation and write-downs630 | €5,291 | €5,850 | €20,011 | €36,217 | €47,424 | €37,629 | €37,803 | ▲ 0.5% |
| Operating cash flow (approximation) | €115,006 | -€30,674 | -€93,609 | -€30,225 | €190,027 | €168,351 | -€83,509 | - |
| Investment in fixed assets (approximation) | - | -€10,742 | -€218,327 | -€46,670 | -€170,321 | €143,109 | -€1,473 | - |
| Change in cash | - | -€5,668 | €10,916 | €10,429 | €15,443 | €21,493 | €12,696 | ▼ 40.9% |
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, 1,221 companies had the same profile as A.B. has now. Two years later, 88.6% were still going and 3.8% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
88.6%
was still going
7.4%
stopped otherwise
3.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of A.B. itself: 1.9% 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 1,221 companies, not a prediction for A.B.. 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.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 12-01-2026 | 2026-00008300 | |
| 30-06-2024 | abbreviated format | 03-11-2025 | 2025-00561679 | |
| 30-06-2023 | abbreviated format | 29-01-2024 | 2024-00019485 | |
| 30-06-2022 | abbreviated format | 25-01-2023 | 2023-00015330 | |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-02800052 | |
| 30-06-2020 | abbreviated format | 29-01-2021 | 2021-02800094 | |
| 30-06-2019 | abbreviated format | 24-12-2019 | 2019-77400311 | |
| 30-06-2018 | abbreviated format | 28-01-2019 | 2019-02700259 | |
| 30-06-2017 | abbreviated format | 04-01-2018 | 2018-00600314 | |
| 30-06-2016 | abbreviated format | 26-01-2017 | 2017-02500094 |