ALYCA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 11 filings
Equity
€43,465▼ 36.6%
2024 · €68,557
Total assets
€91,884▼ 15.2%
2024 · €108,320
Net result
-€25,092▲ 23.3%
2024 · -€32,707
Working capital
-€32,130▼ 131%
2024 · -€13,909
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€21,524
▲ 24.4%
2025
20182025
Net result
-€25,092
▲ 23.3%
2025
lowest quarter of the sector
20182025
Equity
€43,465
▼ 36.6%
2025
middle half of the sector
20182025
Total assets
€91,884
▼ 15.2%
2025
middle half of the sector
20182025
Debt
€48,419
▲ 21.8%
2025
20182025
Working capital
-€32,130
▼ 131%
2025
middle half of the sector
20182025
Solvency
47.3%
▼ 16.0pp
2025
middle half of the sector
20182025
Current ratio
0.34
▼ 0.31
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-27.3%
▲ 2.9pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€31,315-€78,638▲ 151%€63,143▼ 19.7%€50,710▼ 19.7%€35,847▼ 29.3%€18,678▼ 47.9%-€28,488-€21,524▲ 24.4%
Net result-€31,001-€61,080€45,366above the sector's middle half▼ 25.7%€35,916above the sector's middle half▼ 20.8%€21,996above the sector's middle half▼ 38.8%€8,477within the sector's middle half▼ 61.5%-€32,707below the sector's middle half-€25,092below the sector's middle half▲ 23.3%
Equity€87,467-€97,547▲ 11.5%€99,913above the sector's middle half▲ 2.4%€114,030above the sector's middle half▲ 14.1%€114,626above the sector's middle half▲ 0.5%€101,264above the sector's middle half▼ 11.7%€68,557within the sector's middle half▼ 32.3%€43,465within the sector's middle half▼ 36.6%
Total assets€230,424-€209,007▼ 9.3%€192,552within the sector's middle half▼ 7.9%€226,362above the sector's middle half▲ 17.6%€220,270within the sector's middle half▼ 2.7%€191,619within the sector's middle half▼ 13.0%€108,320within the sector's middle half▼ 43.5%€91,884within the sector's middle half▼ 15.2%
Debt€142,957-€111,460▼ 22.0%€92,638▼ 16.9%€112,332▲ 21.3%€105,644▼ 6.0%€90,355▼ 14.5%€39,763▼ 56.0%€48,419▲ 21.8%
Working capital€84,547-€94,445▲ 11.7%€97,563above the sector's middle half▲ 3.3%€111,332above the sector's middle half▲ 14.1%€107,360above the sector's middle half▼ 3.6%€23,756within the sector's middle half▼ 77.9%-€13,909within the sector's middle half-€32,130within the sector's middle half▼ 131%
Solvency38.0%-46.7%▲ 8.7pp51.9%within the sector's middle half▲ 5.2pp50.4%within the sector's middle half▼ 1.5pp52.0%within the sector's middle half▲ 1.7pp52.8%within the sector's middle half▲ 0.8pp63.3%above the sector's middle half▲ 10.4pp47.3%within the sector's middle half▼ 16.0pp
Current ratio1.60-1.85▲ 0.252.06within the sector's middle half▲ 0.211.99within the sector's middle half▼ 0.072.02within the sector's middle half▲ 0.031.26within the sector's middle half▼ 0.750.65within the sector's middle half▼ 0.610.34below the sector's middle half▼ 0.31
Return on assets (ROA)-13.5%-29.2%▲ 42.7pp23.6%above the sector's middle half▼ 5.7pp15.9%within the sector's middle half▼ 7.7pp10.0%within the sector's middle half▼ 5.9pp4.4%within the sector's middle half▼ 5.6pp-30.2%below the sector's middle half▼ 34.6pp-27.3%below the sector's middle half▲ 2.9pp
Staff (FTE)4.4-2.9▼ 34.1%3.8within the sector's middle half▲ 31.0%4.5▲ 18.4%2.1
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 €21,524, smaller than the loss of €28,488 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €91,884
Fixed assets
€75,595 ▼ 8.3%
Current assets
€16,289 ▼ 37.0%
Equity and liabilities €91,884
Equity
€43,465 ▼ 36.6%
Debt
€48,419 ▲ 21.8%
Debt's share of the balance-sheet total rises from 36.7% to 52.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€20,620▲
2024 · -€26,246
Cash flow
-€24,188▲
2024 · -€30,465
Debt to equity
1.11▲
2024 · 0.58
ROE
-57.7%▼
2024 · -47.7%
Interest coverage
-6.43▲
2024 · -7.25
Debt ≤ 1 year
€48,419▲
2024 · €39,763
Income taxes
€361▼
2024 · €633
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 7 | 1 |
| full-time | 3 | 1 |
| part-time | 4 | - |
| in full-time equivalents | 5.2 | 1 |
| Average over the year, in full-time equivalents | 4.5 | 2.1 |
| On a permanent contract | 6 | 1 |
| Joined | 9 | 3 |
| Left | 7 | 7 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €23,105 | €84,375 | €54,408 | €12,058 |
| Depreciation and write-downs of the year | - | €1,249 | €11,084 | €2,242 | €904 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €135,609 | €127,654 | €83,458 | €7,814 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,298 | €1,003 | €402 | - | €1,249 | €11,084 | €2,242 | €904 | ▼ 59.7% |
| Other operating charges640/8 | - | - | - | €428 | €662 | €1,482 | €382 | €1,309 | ▲ 242% |
| Gross operating margin9900 | €156,524 | €170,790 | €164,802 | €186,747 | €165,412 | €114,702 | -€18,051 | -€19,311 | ▼ 7.0% |
| Operating profit (loss)9901 | €31,315 | €78,638 | €63,143 | €50,710 | €35,847 | €18,678 | -€28,488 | -€21,524 | ▲ 24.4% |
| Financial income75/76B | - | - | - | €15 | €58 | €94 | €36 | - | - |
| Recurring financial income75 | €445 | €37 | €853 | €15 | €58 | €94 | €36 | - | - |
| Financial charges65/66B | - | - | - | €2,094 | €2,383 | €3,825 | €3,622 | €3,207 | ▼ 11.4% |
| Recurring financial charges65 | €62,133 | €3,523 | €2,483 | €2,094 | €2,383 | €3,825 | €3,622 | €3,207 | ▼ 11.4% |
| Profit (loss) for the period before taxes9903 | -€30,374 | €75,152 | €61,514 | €48,632 | €33,522 | €14,947 | -€32,074 | -€24,731 | ▲ 22.9% |
| Income taxes67/77 | €627 | €14,072 | €16,148 | €12,715 | €11,525 | €6,469 | €633 | €361 | ▼ 43.0% |
| Profit (loss) for the period9904 | -€31,001 | €61,080 | €45,366 | €35,916 | €21,996 | €8,477 | -€32,707 | -€25,092 | ▲ 23.3% |
| Profit (loss) for the period to be appropriated9905 | -€31,001 | €61,080 | €45,366 | €35,916 | €21,996 | €8,477 | -€32,707 | -€25,092 | ▲ 23.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €230,424 | €209,007 | €192,552 | €226,362 | €220,270 | €191,619 | €108,320 | €91,884 | ▼ 15.2% |
| Formation expenses20 | €259 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €3,576 | €3,102 | €2,700 | €2,700 | €7,617 | €78,208 | €82,466 | €75,595 | ▼ 8.3% |
| Tangible fixed assets22/27 | €1,146 | €402 | - | - | €4,917 | €78,208 | €82,466 | €75,595 | ▼ 8.3% |
| Land and buildings22 | - | - | - | - | - | €75,000 | €75,000 | €75,000 | = |
| Furniture and vehicles24 | - | - | - | - | €2,764 | €1,575 | €6,352 | - | - |
| Other tangible fixed assets26 | - | - | - | - | €2,152 | €1,633 | €1,114 | €595 | ▼ 46.6% |
| Financial fixed assets28 | €2,430 | €2,700 | €2,700 | €2,700 | €2,700 | - | - | - | - |
| Current assets29/58 | €226,589 | €205,905 | €189,852 | €223,662 | €212,653 | €113,411 | €25,854 | €16,289 | ▼ 37.0% |
| Stocks and contracts in progress3 | €62,299 | €66,736 | €43,527 | €48,271 | €55,397 | €50,217 | - | - | - |
| Stocks30/36 | - | - | - | €48,271 | €55,397 | €50,217 | - | - | - |
| Amounts receivable within one year40/41 | €77,032 | €17,573 | €20,566 | €25,033 | €30,563 | €29,005 | €6,700 | €285 | ▼ 95.7% |
| Trade receivables40 | - | - | - | €9,310 | €9,286 | €22,734 | €5,902 | €285 | ▼ 95.2% |
| Other amounts receivable41 | - | - | - | €15,723 | €21,277 | €6,271 | €797 | - | - |
| Cash at bank and in hand54/58 | €87,258 | €121,596 | €124,387 | €150,249 | €121,480 | €30,359 | €8,498 | €8,580 | ▲ 1.0% |
| Deferred charges and accrued income490/1 | - | - | - | €109 | €5,212 | €3,830 | €10,656 | €7,424 | ▼ 30.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €230,424 | €209,007 | €192,552 | €226,362 | €220,270 | €191,619 | €108,320 | €91,884 | ▼ 15.2% |
| Equity10/15 | €87,467 | €97,547 | €99,913 | €114,030 | €114,626 | €101,264 | €68,557 | €43,465 | ▼ 36.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €67,007 | €77,087 | €79,453 | €93,570 | €94,166 | €80,804 | €48,097 | €23,005 | ▼ 52.2% |
| Amounts payable17/49 | €142,957 | €111,460 | €92,638 | €112,332 | €105,644 | €90,355 | €39,763 | €48,419 | ▲ 21.8% |
| Amounts payable after more than one year17 | €915 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €142,042 | €111,460 | €92,288 | €112,329 | €105,294 | €89,655 | €39,763 | €48,419 | ▲ 21.8% |
| Financial debts43 | - | - | - | €10,022 | €10,035 | €4,184 | - | - | - |
| Credit institutions430/8 | - | - | - | €10,022 | €10,035 | €4,184 | - | - | - |
| Trade debts44 | €98,067 | €38,401 | €38,060 | €43,974 | €30,972 | €27,388 | €4,895 | €410 | ▼ 91.6% |
| Suppliers440/4 | - | - | - | €43,974 | €30,972 | €27,388 | €4,895 | €410 | ▼ 91.6% |
| Taxes, remuneration and social security45 | - | - | - | €39,930 | €55,051 | €23,967 | €3,639 | €3,708 | ▲ 1.9% |
| Taxes450/3 | - | - | - | €12,361 | €10,458 | €8,545 | €2,102 | €2,171 | ▲ 3.3% |
| Remuneration and social security454/9 | - | - | - | €27,569 | €44,593 | €15,422 | €1,537 | €1,537 | = |
| Other amounts payable47/48 | - | - | - | €18,404 | €9,235 | €34,116 | €31,229 | €44,301 | ▲ 41.9% |
| Accrued charges and deferred income492/3 | - | - | - | €2 | €350 | €700 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€31,001 | €61,080 | €45,366 | €35,916 | €21,996 | €8,477 | -€32,707 | -€25,092 | ▲ 23.3% |
| + Depreciation and write-downs630 | €1,298 | €1,003 | €402 | - | €1,249 | €11,084 | €2,242 | €904 | ▼ 59.7% |
| Operating cash flow (approximation) | -€29,703 | €62,083 | €45,768 | €35,916 | €23,246 | €19,561 | -€30,465 | -€24,188 | ▲ 20.6% |
| Investment in fixed assets (approximation) | - | -€529 | €0 | €0 | -€6,166 | -€81,675 | -€6,500 | €5,967 | - |
| Change in cash | - | €34,338 | €2,791 | €25,862 | -€28,768 | -€91,121 | -€21,861 | €82 | - |
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, 4,805 companies had the same profile as ALYCA has now. Two years later, 88.1% were still going and 2.0% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
88.1%
was still going
9.8%
stopped otherwise
2.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALYCA itself: 0.8% 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 4,805 companies, not a prediction for ALYCA. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-07-2026 | 2026-00256404 | |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00380919 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00379129 | |
| 31-12-2022 | micro format | 07-08-2023 | 2023-00319747 | |
| 31-12-2021 | micro format | 14-08-2022 | 2022-20290552 | |
| 31-12-2020 | micro format | 20-07-2021 | 2021-37700290 | |
| 31-12-2019 | micro format | 03-08-2020 | 2020-38300273 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-41400249 | |
| 31-12-2017 | micro format | 22-08-2018 | 2018-48100072 | |
| 31-12-2016 | micro format | 22-08-2017 | 2017-45600343 |