ABPS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 5 filings
Turnover
≈ €670,000
Estimated: probably between €560,000 and €810,000
Total assets
€166,824▼ 30.2%
2024 · €238,836
Net result
-€48,870▼ 48.9%
2024 · -€32,826
Working capital
-€137,867▼ 16.0%
2024 · -€118,855
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€43,528
▼ 45.0%
2025
20212025
Net result
-€48,870
▼ 48.9%
2025
lowest quarter of the sector
20212025
Equity
-€125,069
▼ 64.1%
2025
lowest quarter of the sector
20212025
Total assets
€166,824
▼ 30.2%
2025
middle half of the sector
20212025
Debt
€291,893
▼ 7.3%
2025
20212025
Working capital
-€137,867
▼ 16.0%
2025
lowest quarter of the sector
20212025
Solvency
-75.0%
▼ 43.1pp
2025
lowest quarter of the sector
20212025
Current ratio
0.20
▼ 0.12
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
-29.3%
▼ 15.6pp
2025
lowest quarter of the sector
20212025
Staff (FTE)
5.3
▼ 10.2%
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€25,559--€20,946-€57,054▼ 172%-€30,021▲ 47.4%-€43,528▼ 45.0%
Net result€21,701within the sector's middle half--€24,844below the sector's middle half-€60,230below the sector's middle half▼ 142%-€32,826below the sector's middle half▲ 45.5%-€48,870below the sector's middle half▼ 48.9%
Equity€41,701within the sector's middle half-€16,857within the sector's middle half▼ 59.6%-€43,373below the sector's middle half-€76,199below the sector's middle half▼ 75.7%-€125,069below the sector's middle half▼ 64.1%
Total assets€409,483above the sector's middle half-€372,729above the sector's middle half▼ 9.0%€298,067above the sector's middle half▼ 20.0%€238,836within the sector's middle half▼ 19.9%€166,824within the sector's middle half▼ 30.2%
Debt€367,781-€355,872▼ 3.2%€341,440▼ 4.1%€315,035▼ 7.7%€291,893▼ 7.3%
Working capital-€88,867below the sector's middle half--€82,225below the sector's middle half▲ 7.5%-€108,969below the sector's middle half▼ 32.5%-€118,855below the sector's middle half▼ 9.1%-€137,867below the sector's middle half▼ 16.0%
Solvency10.2%within the sector's middle half-4.5%within the sector's middle half▼ 5.7pp-14.6%below the sector's middle half▼ 19.1pp-31.9%below the sector's middle half▼ 17.4pp-75.0%below the sector's middle half▼ 43.1pp
Current ratio0.46below the sector's middle half-0.53within the sector's middle half▲ 0.070.39below the sector's middle half▼ 0.130.31below the sector's middle half▼ 0.080.20below the sector's middle half▼ 0.12
Return on assets (ROA)5.3%within the sector's middle half--6.7%within the sector's middle half▼ 12.0pp-20.2%below the sector's middle half▼ 13.5pp-13.7%below the sector's middle half▲ 6.5pp-29.3%below the sector's middle half▼ 15.6pp
Staff (FTE)5-5.6▲ 12.0%5.9▲ 5.4%5.9=5.3▼ 10.2%
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 €43,528, larger than the loss of €30,021 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 €166,824
Fixed assets
€133,419 ▼ 27.7%
Current assets
€33,405 ▼ 38.2%
Equity and liabilities
Equity-€125,069
Debt€291,893
Equity is negative. Debt (€291,893) exceeds the balance-sheet total (€166,824).
Key figures and ratios
EBITDA
€10,392▼
2024 · €24,356
Cash flow
€5,049▼
2024 · €21,552
Quick ratio
0.11▼
2024 · 0.22
Interest coverage
2.02▼
2024 · 9.63
Debt ≤ 1 year
€171,272▼
2024 · €172,923
Debt > 1 year
€118,489▼
2024 · €140,165
Income taxes
€211▼
2024 · €279
Staff costs
€217,843▼
2024 · €242,507
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 5 | 4 | 4 | 2 |
| full-time | 3 | 3 | 3 | 2 | 1 |
| part-time | 3 | 2 | 1 | 2 | 1 |
| in full-time equivalents | 4.6 | 4.1 | 3.3 | 2.9 | 1.3 |
| Average over the year, in full-time equivalents | 5 | 5.6 | 5.9 | 5.9 | 5.3 |
| On a permanent contract | 3 | 5 | 3 | 3 | 2 |
| Joined | 457 | 683 | 716 | 821 | 858 |
| Left | 451 | 684 | 716 | 821 | 860 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €381,557 | €4,869 | €3,221 | €9,070 | €2,570 |
| Financial fixed assets | - | - | - | €3,000 | €0 |
| Depreciation and write-downs of the year | €50,077 | €56,966 | €57,668 | €54,378 | €53,920 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €1,000 awarded · €1,000 paidAnnual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €233,972 | €270,714 | €263,259 | €242,507 | €217,843 | ▼ 10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €50,077 | €56,966 | €57,668 | €54,378 | €53,920 | ▼ 0.8% |
| Other operating charges640/8 | €1,413 | €1,301 | €2,038 | €2,473 | €596 | ▼ 75.9% |
| Gross operating margin9900 | €311,021 | €308,035 | €265,911 | €269,337 | €228,830 | ▼ 15.0% |
| Operating profit (loss)9901 | €25,559 | -€20,946 | -€57,054 | -€30,021 | -€43,528 | ▼ 45.0% |
| Financial income75/76B | €96 | €303 | €38 | €3 | €16 | ▲ 488% |
| Recurring financial income75 | €96 | €303 | €38 | €3 | €16 | ▲ 488% |
| Financial charges65/66B | €3,871 | €4,068 | €3,074 | €2,528 | €5,147 | ▲ 104% |
| Recurring financial charges65 | €3,871 | €3,398 | €3,074 | €2,528 | €5,147 | ▲ 104% |
| Non-recurring financial charges66B | - | €670 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €21,785 | -€24,711 | -€60,090 | -€32,547 | -€48,660 | ▼ 49.5% |
| Income taxes67/77 | €84 | €133 | €140 | €279 | €211 | ▼ 24.5% |
| Profit (loss) for the period9904 | €21,701 | -€24,844 | -€60,230 | -€32,826 | -€48,870 | ▼ 48.9% |
| Profit (loss) for the period to be appropriated9905 | €21,701 | -€24,844 | -€60,230 | -€32,826 | -€48,870 | ▼ 48.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €409,483 | €372,729 | €298,067 | €238,836 | €166,824 | ▼ 30.2% |
| Formation expenses20 | €1,598 | €1,170 | €742 | €314 | €0 | ▼ 100% |
| Fixed assets21/28 | €332,021 | €280,353 | €226,334 | €184,454 | €133,419 | ▼ 27.7% |
| Tangible fixed assets22/27 | €332,021 | €280,353 | €226,334 | €181,454 | €130,419 | ▼ 28.1% |
| Land and buildings22 | €182,942 | €161,299 | €138,413 | €123,723 | €99,828 | ▼ 19.3% |
| Plant, machinery and equipment23 | €70,787 | €53,638 | €37,334 | €21,536 | €8,135 | ▼ 62.2% |
| Furniture and vehicles24 | €78,292 | €65,415 | €50,588 | €36,195 | €22,456 | ▼ 38.0% |
| Financial fixed assets28 | - | - | - | €3,000 | €3,000 | = |
| Current assets29/58 | €75,864 | €91,207 | €70,991 | €54,068 | €33,405 | ▼ 38.2% |
| Stocks and contracts in progress3 | €15,900 | €19,347 | €19,347 | €16,097 | €14,595 | ▼ 9.3% |
| Stocks30/36 | €15,900 | €19,347 | €19,347 | €16,097 | €14,595 | ▼ 9.3% |
| Amounts receivable within one year40/41 | €1,126 | €16,060 | €1,429 | €1,298 | €12,861 | ▲ 891% |
| Trade receivables40 | €1,126 | €1,669 | €1,429 | €1,298 | €12,861 | ▲ 891% |
| Other amounts receivable41 | - | €14,391 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €58,837 | €53,970 | €48,709 | €36,555 | €5,827 | ▼ 84.1% |
| Deferred charges and accrued income490/1 | - | €1,830 | €1,506 | €119 | €121 | ▲ 2.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €409,483 | €372,729 | €298,067 | €238,836 | €166,824 | ▼ 30.2% |
| Equity10/15 | €41,701 | €16,857 | -€43,373 | -€76,199 | -€125,069 | ▼ 64.1% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €21,701 | - | - | - | - | - |
| Distributable reserves133 | €21,701 | - | - | - | - | - |
| Profit (loss) carried forward14 | - | -€3,143 | -€63,373 | -€96,199 | -€145,069 | ▼ 50.8% |
| Amounts payable17/49 | €367,781 | €355,872 | €341,440 | €315,035 | €291,893 | ▼ 7.3% |
| Amounts payable after more than one year17 | €203,051 | €182,440 | €161,480 | €140,165 | €118,489 | ▼ 15.5% |
| Financial debts170/4 | €203,051 | €182,440 | €161,480 | €140,165 | €118,489 | ▼ 15.5% |
| Amounts payable within one year42/48 | €164,730 | €173,432 | €179,960 | €172,923 | €171,272 | ▼ 1.0% |
| Current portion of amounts payable after more than one year42 | €20,268 | €20,611 | €20,960 | €21,315 | €21,676 | ▲ 1.7% |
| Trade debts44 | €33,494 | €10,691 | €18,144 | €14,335 | €23,589 | ▲ 64.6% |
| Suppliers440/4 | €33,494 | €10,691 | €18,144 | €14,335 | €23,589 | ▲ 64.6% |
| Taxes, remuneration and social security45 | €23,204 | €48,007 | €45,716 | €42,134 | €32,228 | ▼ 23.5% |
| Taxes450/3 | €1,056 | €13,050 | €15,004 | €18,508 | €16,219 | ▼ 12.4% |
| Remuneration and social security454/9 | €22,148 | €34,957 | €30,712 | €23,626 | €16,009 | ▼ 32.2% |
| Other amounts payable47/48 | €87,764 | €94,123 | €95,139 | €95,139 | €93,780 | ▼ 1.4% |
| Accrued charges and deferred income492/3 | - | - | - | €1,947 | €2,131 | ▲ 9.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,701 | -€24,844 | -€60,230 | -€32,826 | -€48,870 | ▼ 48.9% |
| + Depreciation and write-downs630 | €50,077 | €56,966 | €57,668 | €54,378 | €53,920 | ▼ 0.8% |
| Operating cash flow (approximation) | €71,778 | €32,121 | -€2,562 | €21,552 | €5,049 | ▼ 76.6% |
| Investment in fixed assets (approximation) | - | -€5,297 | -€3,649 | -€12,498 | -€2,884 | ▲ 76.9% |
| Change in cash | - | -€4,867 | -€5,261 | -€12,155 | -€30,727 | ▼ 153% |
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, 6,008 companies had the same profile as ABPS has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ABPS itself: 4.7% 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 6,008 companies, not a prediction for ABPS. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-07-2026 | 2026-00309577 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00409424 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00391560 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00300971 | |
| 31-12-2021 | micro format | 30-07-2022 | 2022-20265309 |