Art & Wine
Open bankruptcyFinancials · financial year 2025, full format
2025 annual accounts filed late (17 days) Filed on 17 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00402215.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€207,843▼ 874%
2024 · -€21,349
Working capital
-€103,446
2024 · €100,329
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €187,494 in 2025 against €26,182 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€187,494
2025
Net result-€207,843
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€174,821
2025
Equity-€76,477
2025
Debt€251,299
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€103,446
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-118.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-43.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.59
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)5.3
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€23,218--€31,548▼ 35.9%-€33,160▼ 5.1%-€22,958▲ 30.8%€33,354€22,294▼ 33.2%-€26,182-€187,494▼ 616%
Net result-€1,505--€20,164▼ 1,240%-€17,951within the sector's middle half▲ 11.0%-€15,978within the sector's middle half▲ 11.0%€40,785within the sector's middle half€17,847within the sector's middle half▼ 56.2%-€21,349within the sector's middle half-€207,843below the sector's middle half▼ 874%
Equity€148,175-€128,011▼ 13.6%€110,060within the sector's middle half▼ 14.0%€94,082within the sector's middle half▼ 14.5%€134,867within the sector's middle half▲ 43.3%€152,714within the sector's middle half▲ 13.2%€131,365within the sector's middle half▼ 14.0%-€76,477below the sector's middle half
Total assets€150,370-€186,409▲ 24.0%€201,491below the sector's middle half▲ 8.1%€227,140below the sector's middle half▲ 12.7%€293,646within the sector's middle half▲ 29.3%€309,080below the sector's middle half▲ 5.3%€330,019below the sector's middle half▲ 6.8%€174,821below the sector's middle half▼ 47.0%
Debt€2,196-€58,398▲ 2,559%€91,431▲ 56.6%€133,058▲ 45.5%€158,779▲ 19.3%€156,365▼ 1.5%€198,654▲ 27.0%€251,299▲ 26.5%
Working capital€148,175-€127,500▼ 14.0%€109,669within the sector's middle half▼ 14.0%€67,854within the sector's middle half▼ 38.1%€114,930within the sector's middle half▲ 69.4%€126,042within the sector's middle half▲ 9.7%€100,329within the sector's middle half▼ 20.4%-€103,446within the sector's middle half
Solvency98.5%-68.7%▼ 29.9pp54.6%within the sector's middle half▼ 14.0pp41.4%within the sector's middle half▼ 13.2pp45.9%within the sector's middle half▲ 4.5pp49.4%within the sector's middle half▲ 3.5pp39.8%within the sector's middle half▼ 9.6pp-43.7%below the sector's middle half▼ 83.6pp
Current ratio68.48-3.18▼ 65.292.20within the sector's middle half▼ 0.981.51within the sector's middle half▼ 0.691.72within the sector's middle half▲ 0.211.81within the sector's middle half▲ 0.081.51within the sector's middle half▼ 0.300.59below the sector's middle half▼ 0.92
Return on assets (ROA)-1.0%--10.8%▼ 9.8pp-8.9%below the sector's middle half▲ 1.9pp-7.0%below the sector's middle half▲ 1.9pp13.9%above the sector's middle half▲ 20.9pp5.8%within the sector's middle half▼ 8.1pp-6.5%below the sector's middle half▼ 12.2pp-118.9%below the sector's middle half▼ 112.4pp
Staff (FTE)2.64.3within the sector's middle half▲ 65.4%4.4within the sector's middle half▲ 2.3%4.9within the sector's middle half▲ 11.4%5.2within the sector's middle half▲ 6.1%6.2within the sector's middle half▲ 19.2%5.3within the sector's middle half▼ 14.5%
above
within
below
the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €174,821
Fixed assets
€26,968 ▼ 13.1%
Current assets
€147,853 ▼ 50.5%
Equity and liabilities
Equity-€76,477
Debt€251,299
Equity is negative: debt (€251,299) exceeds the balance-sheet total (€174,821).
Key figures and ratios
EBITDA
-€183,425▼
2024 · -€21,989
Cash flow
-€203,774▼
2024 · -€17,155
Quick ratio
0.56▼
2024 · 1.31
Interest coverage
-48.78▼
2024 · -3.61
Debt ≤ 1 year
€251,299▲
2024 · €198,654
Income taxes
€668▲
2024 · €1
Staff costs
€204,557▲
2024 · €140,046
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €60,279 | €76,997 | €118,439 | €140,046 | €204,557 | ▲ 46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €120 | €120 | €3,726 | €6,291 | €6,265 | €4,194 | €4,068 | ▼ 3.0% |
| Other operating charges640/8 | - | - | - | €3,086 | €5,826 | €11,063 | €15,824 | €3,579 | ▼ 77.4% |
| Gross operating margin9900 | -€20,538 | €32,544 | €8,622 | €44,133 | €122,469 | €158,061 | €133,881 | €24,712 | ▼ 81.5% |
| Operating profit (loss)9901 | -€23,218 | -€31,548 | -€33,160 | -€22,958 | €33,354 | €22,294 | -€26,182 | -€187,494 | ▼ 616% |
| Financial income75/76B | - | - | - | €10,342 | €11,447 | €9,303 | €10,918 | €8 | ▼ 99.9% |
| Recurring financial income75 | €0 | €13,252 | €16,623 | €10,342 | €11,447 | €9,303 | €10,918 | €8 | ▼ 99.9% |
| Financial charges65/66B | - | - | - | €3,362 | €2,912 | €3,869 | €6,084 | €19,689 | ▲ 224% |
| Recurring financial charges65 | €130 | €1,867 | €1,414 | €3,362 | €2,912 | €3,869 | €6,084 | €3,760 | ▼ 38.2% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €15,929 | - |
| Profit (loss) for the period before taxes9903 | -€1,505 | -€20,164 | -€17,951 | -€15,978 | €41,889 | €27,728 | -€21,348 | -€207,175 | ▼ 870% |
| Income taxes67/77 | - | - | - | - | €1,104 | €9,880 | €1 | €668 | ▲ 111,160% |
| Profit (loss) for the period9904 | -€1,505 | -€20,164 | -€17,951 | -€15,978 | €40,785 | €17,847 | -€21,349 | -€207,843 | ▼ 874% |
| Profit (loss) for the period to be appropriated9905 | -€1,505 | -€20,164 | -€17,951 | -€15,978 | €40,785 | €17,847 | -€21,349 | -€207,843 | ▼ 874% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €150,370 | €186,409 | €201,491 | €227,140 | €293,646 | €309,080 | €330,019 | €174,821 | ▼ 47.0% |
| Fixed assets21/28 | - | €511 | €391 | €26,228 | €19,937 | €26,672 | €31,037 | €26,968 | ▼ 13.1% |
| Tangible fixed assets22/27 | - | €352 | €232 | €26,069 | €19,778 | €26,513 | €30,878 | €26,809 | ▼ 13.2% |
| Land and buildings22 | - | - | - | €14,298 | €12,803 | €24,223 | €30,425 | €26,637 | ▼ 12.4% |
| Furniture and vehicles24 | - | - | - | €11,772 | €6,975 | €2,290 | €453 | €172 | ▼ 62.0% |
| Financial fixed assets28 | - | €159 | €159 | €159 | €159 | €159 | €159 | €159 | = |
| Current assets29/58 | €150,370 | €185,898 | €201,100 | €200,912 | €273,709 | €282,408 | €298,982 | €147,853 | ▼ 50.5% |
| Stocks and contracts in progress3 | - | €18,243 | €10,594 | €22,142 | €24,177 | €29,013 | €38,558 | €6,098 | ▼ 84.2% |
| Stocks30/36 | - | - | - | €22,142 | €24,177 | €29,013 | €38,558 | €6,098 | ▼ 84.2% |
| Amounts receivable within one year40/41 | €120,310 | €166,999 | €187,509 | €175,022 | €244,808 | €248,435 | €255,968 | €138,388 | ▼ 45.9% |
| Trade receivables40 | - | - | - | - | €3,172 | €2,433 | €4,606 | €67,130 | ▲ 1,357% |
| Other amounts receivable41 | - | - | - | €175,022 | €241,636 | €246,002 | €251,362 | €71,258 | ▼ 71.7% |
| Cash at bank and in hand54/58 | €30,060 | €656 | €2,997 | €3,747 | €4,724 | €4,960 | €4,457 | €3,368 | ▼ 24.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €150,370 | €186,409 | €201,491 | €227,140 | €293,646 | €309,080 | €330,019 | €174,821 | ▼ 47.0% |
| Equity10/15 | €148,175 | €128,011 | €110,060 | €94,082 | €134,867 | €152,714 | €131,365 | -€76,477 | - |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | - | - | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Issued capital100 | - | - | - | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €49,000 | €49,000 | €49,000 | €49,000 | €49,000 | €49,000 | €49,000 | €49,000 | = |
| Non-distributable reserves130/1 | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Legal reserve130 | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Distributable reserves133 | - | - | - | €39,000 | €39,000 | €39,000 | €39,000 | €39,000 | = |
| Profit (loss) carried forward14 | -€825 | -€20,989 | -€38,940 | -€54,918 | -€14,133 | €3,714 | -€17,635 | -€225,477 | ▼ 1,179% |
| Amounts payable17/49 | €2,196 | €58,398 | €91,431 | €133,058 | €158,779 | €156,365 | €198,654 | €251,299 | ▲ 26.5% |
| Amounts payable within one year42/48 | €2,196 | €58,398 | €91,431 | €133,058 | €158,779 | €156,365 | €198,654 | €251,299 | ▲ 26.5% |
| Trade debts44 | €2,196 | €30,426 | €74,721 | €107,995 | €88,563 | €48,834 | €75,439 | €127,140 | ▲ 68.5% |
| Suppliers440/4 | - | - | - | €107,995 | €88,563 | €48,834 | €75,439 | €127,140 | ▲ 68.5% |
| Taxes, remuneration and social security45 | - | - | - | €25,062 | €70,216 | €107,532 | €123,215 | €124,159 | ▲ 0.8% |
| Taxes450/3 | - | - | - | €49 | €31,045 | €44,882 | €74,015 | €31,653 | ▼ 57.2% |
| Remuneration and social security454/9 | - | - | - | €25,013 | €39,172 | €62,649 | €49,200 | €92,505 | ▲ 88.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,505 | -€20,164 | -€17,951 | -€15,978 | €40,785 | €17,847 | -€21,349 | -€207,843 | ▼ 874% |
| + Depreciation and write-downs630 | - | €120 | €120 | €3,726 | €6,291 | €6,265 | €4,194 | €4,068 | ▼ 3.0% |
| Operating cash flow (approximation) | -€1,505 | -€20,044 | -€17,831 | -€12,252 | €47,076 | €24,112 | -€17,155 | -€203,774 | ▼ 1,088% |
| Investment in fixed assets (approximation) | - | - | €0 | -€29,564 | €0 | -€13,000 | -€8,559 | €0 | - |
| Change in cash | - | -€29,404 | €2,341 | €750 | €977 | €236 | -€503 | -€1,089 | ▼ 116% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 17-08-2026 | 2026-00402215 |
| 31-12-2024 | full format | 27-08-2025 | 2025-00415752 |
| 31-12-2023 | full format | 10-10-2024 | 2024-00507562 |
| 31-12-2022 | full format | 09-10-2023 | 2023-00481568 |
| 31-12-2021 | full format | 26-04-2022 | 2022-20008818 |
| 31-12-2020 | full format | 03-08-2021 | 2021-45700461 |
| 31-12-2019 | full format | 28-10-2020 | 2020-64500179 |
| 31-12-2018 | full format | 14-02-2019 | 2019-05100079 |
| 31-12-2017 | micro format | 20-07-2018 | 2018-36000301 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-55800492 |
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Of the 296 active companies whose main activity is sports, amusement and recreation activities (NACE 93293), figures are known for 191. 89 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.