ALCORECA
ActiveFinancials · financial year 2024, full format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 07-01-2026 PDF all 19 filings
Turnover
≈ €61,000
Estimated: probably between €35,000 and €110,000
EBIT margin
Not included in this filing
Net result
-€34,549▼ 98.2%
2023 · -€17,429
Working capital
-€53,775▼ 91.8%
2023 · -€28,042
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
-€33,997
▼ 96.0%
2024
20182024
Net result
-€34,549
▼ 98.2%
2024
lowest quarter of the sector
20182024
Equity
-€89,791
▼ 62.5%
2024
lowest quarter of the sector
20182024
Total assets
€13,040
▲ 32.6%
2024
lowest quarter of the sector
20182024
Debt
€102,831
▲ 58.0%
2024
20182024
Working capital
-€53,775
▼ 91.8%
2024
middle half of the sector
20182024
Solvency
-688.6%
▼ 126.9pp
2024
lowest quarter of the sector
20182024
Current ratio
0.10
▼ 0.02
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
-265.0%
▼ 87.7pp
2024
lowest quarter of the sector
20182024
Staff (FTE)
2
2024
lowest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€8,707--€902▲ 89.6%-€8,858▼ 882%-€1,406▲ 84.1%-€12,509▼ 790%-€17,341▼ 38.6%-€33,997▼ 96.0%
Net result-€8,998--€979▲ 89.1%-€8,946within the sector's middle half▼ 814%-€1,444within the sector's middle half▲ 83.9%-€12,603within the sector's middle half▼ 773%-€17,429below the sector's middle half▼ 38.3%-€34,549below the sector's middle half▼ 98.2%
Equity-€13,841--€14,820▼ 7.1%-€23,766below the sector's middle half▼ 60.4%-€25,210below the sector's middle half▼ 6.1%-€37,813below the sector's middle half▼ 50.0%-€55,242below the sector's middle half▼ 46.1%-€89,791below the sector's middle half▼ 62.5%
Total assets€7,165-€6,745▼ 5.9%€6,144below the sector's middle half▼ 8.9%€6,000below the sector's middle half▼ 2.3%€6,441below the sector's middle half▲ 7.3%€9,835below the sector's middle half▲ 52.7%€13,040below the sector's middle half▲ 32.6%
Debt€21,006-€21,565▲ 2.7%€29,910▲ 38.7%€31,210▲ 4.3%€44,254▲ 41.8%€65,077▲ 47.1%€102,831▲ 58.0%
Working capital-€13,841--€14,820▼ 7.1%-€6,766within the sector's middle half▲ 54.3%-€16,113within the sector's middle half-€28,042within the sector's middle half▼ 74.0%-€53,775within the sector's middle half▼ 91.8%
Solvency-193.2%--219.7%▼ 26.5pp-386.8%below the sector's middle half▼ 167.1pp-420.2%below the sector's middle half▼ 33.4pp-587.1%below the sector's middle half▼ 166.9pp-561.7%below the sector's middle half▲ 25.4pp-688.6%below the sector's middle half▼ 126.9pp
Current ratio0.34-0.31▼ 0.030.02below the sector's middle half▼ 0.290.03below the sector's middle half0.12below the sector's middle half▲ 0.090.10below the sector's middle half▼ 0.02
Return on assets (ROA)-125.6%--14.5%▲ 111.1pp-145.6%below the sector's middle half▼ 131.1pp-24.1%below the sector's middle half▲ 121.5pp-195.7%below the sector's middle half▼ 171.6pp-177.2%below the sector's middle half▲ 18.5pp-265.0%below the sector's middle half▼ 87.7pp
Staff (FTE)2below the sector's middle half
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 2024 is a loss of €33,997, larger than the loss of €17,341 in 2023. It is the lowest result since 2018.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €13,040
Fixed assets
€6,984 ▲ 16.4%
Current assets
€6,056 ▲ 57.9%
Equity and liabilities
Equity-€89,791
Debt€102,831
Equity is negative. Debt (€102,831) exceeds the balance-sheet total (€13,040).
Key figures and ratios
EBITDA
-€33,987
Cash flow
-€34,539
Interest coverage
-61.60
Debt ≤ 1 year
€59,831▲
2023 · €31,877
Debt > 1 year
€43,000▲
2023 · €33,200
Supplier credit
121 days▼
2023 · 124 days
Staff costs
€38,702
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 | 31-12-2024 |
|---|---|
| Employees at the balance-sheet date | 2 |
| full-time | 2 |
| in full-time equivalents | 2 |
| Average over the year, in full-time equivalents | 2 |
| On a permanent contract | 1 |
| Joined | 4 |
| Left | 2 |
Source: social balance sheet in the 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €699 |
| Financial fixed assets | - | - | - | €295 |
| Depreciation and write-downs of the year | - | - | - | €11 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1,406 | €12,209 | €17,053 | €47,276 | ▲ 177% |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €38,702 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | - | €11 | - |
| Other operating charges640/8 | - | - | - | - | €300 | €288 | €913 | ▲ 217% |
| Gross operating margin9900 | €1,816 | -€554 | -€8,858 | -€1,406 | -€12,209 | -€17,053 | €5,628 | - |
| Operating profit (loss)9901 | -€8,707 | -€902 | -€8,858 | -€1,406 | -€12,509 | -€17,341 | -€33,997 | ▼ 96.0% |
| Financial charges65/66B | - | - | - | €38 | €94 | €88 | €552 | ▲ 529% |
| Recurring financial charges65 | €516 | €78 | €88 | €38 | €94 | €88 | €552 | ▲ 529% |
| Profit (loss) for the period before taxes9903 | -€9,224 | -€979 | -€8,946 | -€1,444 | -€12,603 | -€17,429 | -€34,549 | ▼ 98.2% |
| Income taxes67/77 | -€226 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€8,998 | -€979 | -€8,946 | -€1,444 | -€12,603 | -€17,429 | -€34,549 | ▼ 98.2% |
| Profit (loss) for the period to be appropriated9905 | -€8,998 | -€979 | -€8,946 | -€1,444 | -€12,603 | -€17,429 | -€34,549 | ▼ 98.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €7,165 | €6,745 | €6,144 | €6,000 | €6,441 | €9,835 | €13,040 | ▲ 32.6% |
| Fixed assets21/28 | - | - | €6,000 | €6,000 | €6,000 | €6,000 | €6,984 | ▲ 16.4% |
| Intangible fixed assets21 | - | - | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €689 | - |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €689 | - |
| Financial fixed assets28 | - | - | - | - | - | - | €295 | - |
| Current assets29/58 | €7,165 | €6,745 | €144 | - | €441 | €3,835 | €6,056 | ▲ 57.9% |
| Amounts receivable within one year40/41 | €7,158 | €6,705 | - | - | €297 | €3,732 | €2,988 | ▼ 19.9% |
| Trade receivables40 | - | - | - | - | - | €2,990 | €2,024 | ▼ 32.3% |
| Other amounts receivable41 | - | - | - | - | €297 | €742 | €964 | ▲ 29.9% |
| Cash at bank and in hand54/58 | €7 | €40 | €144 | - | €144 | €103 | €3,068 | ▲ 30× |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €7,165 | €6,745 | €6,144 | €6,000 | €6,441 | €9,835 | €13,040 | ▲ 32.6% |
| Equity10/15 | -€13,841 | -€14,820 | -€23,766 | -€25,210 | -€37,813 | -€55,242 | -€89,791 | ▼ 62.5% |
| Contributions10/11 | €18,550 | €18,550 | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Profit (loss) carried forward14 | -€34,246 | -€35,225 | -€44,171 | -€45,615 | -€58,218 | -€75,647 | -€110,196 | ▼ 45.7% |
| Amounts payable17/49 | €21,006 | €21,565 | €29,910 | €31,210 | €44,254 | €65,077 | €102,831 | ▲ 58.0% |
| Amounts payable after more than one year17 | - | - | €23,000 | €23,000 | €27,700 | €33,200 | €43,000 | ▲ 29.5% |
| Other amounts payable178/9 | - | - | - | €23,000 | €27,700 | €33,200 | €43,000 | ▲ 29.5% |
| Amounts payable within one year42/48 | €21,006 | €21,565 | €6,910 | €8,210 | €16,554 | €31,877 | €59,831 | ▲ 87.7% |
| Trade debts44 | €5,412 | €4,751 | €4,751 | €4,751 | €5,485 | €5,794 | €15,724 | ▲ 171% |
| Suppliers440/4 | - | - | - | €4,751 | €5,485 | €5,794 | €15,724 | ▲ 171% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €9,112 | - |
| Taxes450/3 | - | - | - | - | - | - | €463 | - |
| Remuneration and social security454/9 | - | - | - | - | - | - | €8,648 | - |
| Other amounts payable47/48 | - | - | - | €3,459 | €11,069 | €26,083 | €34,996 | ▲ 34.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,998 | -€979 | -€8,946 | -€1,444 | -€12,603 | -€17,429 | -€34,549 | ▼ 98.2% |
| + Depreciation and write-downs630 | - | - | - | - | - | - | €11 | - |
| Operating cash flow (approximation) | -€8,998 | -€979 | -€8,946 | -€1,444 | -€12,603 | -€17,429 | -€34,539 | ▼ 98.2% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | €0 | -€994 | - |
| Change in cash | - | €33 | €104 | - | - | -€41 | €2,965 | - |
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, 6,619 companies had the same profile as ALCORECA has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALCORECA itself: 4.8% 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 6,619 companies, not a prediction for ALCORECA. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 07-01-2026 | 2026-00006105 | |
| 31-12-2023 | full format | 25-11-2025 | 2025-00574666 | |
| 31-12-2022 | full format | 23-11-2023 | 2023-00515944 | |
| 31-12-2021 | full format | 11-08-2022 | 2022-20286446 | |
| 31-12-2020 | micro format | 08-03-2022 | 2022-07300184 | |
| 31-12-2019 | micro format | 09-07-2020 | 2020-28300479 | |
| 31-12-2018 | micro format | 26-06-2019 | 2019-22900458 | |
| 31-12-2017 | micro format | 27-06-2018 | 2018-23600128 | |
| 31-12-2016 | full format | 26-06-2017 | 2017-23800445 | |
| 31-12-2015 | full format | 27-09-2016 | 2016-62100419 |