BARKEEP
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-06-2026 PDF all 34 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €420,000
Estimated: probably between €370,000 and €530,000
Total assets
€57,207▼ 28.7%
2024 · €80,205
Net result
-€29,406▼ 112%
2024 · -€13,887
Working capital
€35,708▼ 42.4%
2024 · €62,043
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€28,911
▼ 103%
2025
20182025
Net result
-€29,406
▼ 112%
2025
lowest quarter of the sector
20182025
Equity
€43,350
▼ 40.4%
2025
middle half of the sector
20182025
Total assets
€57,207
▼ 28.7%
2025
middle half of the sector
20182025
Debt
€13,857
▲ 86.0%
2025
20182025
Working capital
€35,708
▼ 42.4%
2025
middle half of the sector
20182025
Solvency
75.8%
▼ 14.9pp
2025
highest quarter of the sector
20182025
Current ratio
3.58
▼ 5.75
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-51.4%
▼ 34.1pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
12.4
▼ 3.1%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€5,025-€19,265▲ 283%€699▼ 96.4%€7,682▲ 1,000%-€29,625-€22,726▲ 23.3%-€14,241▲ 37.3%-€28,911▼ 103%
Net result€2,889-€12,720▲ 340%€625within the sector's middle half▼ 95.1%€6,791within the sector's middle half▲ 987%-€30,057below the sector's middle half-€22,976below the sector's middle half▲ 23.6%-€13,887below the sector's middle half▲ 39.6%-€29,406below the sector's middle half▼ 112%
Equity€126,683-€132,260▲ 4.4%€132,885above the sector's middle half▲ 0.5%€139,677above the sector's middle half▲ 5.1%€109,620above the sector's middle half▼ 21.5%€86,644above the sector's middle half▼ 21.0%€72,756within the sector's middle half▼ 16.0%€43,350within the sector's middle half▼ 40.4%
Total assets€145,125-€151,656▲ 4.5%€137,699within the sector's middle half▼ 9.2%€157,685within the sector's middle half▲ 14.5%€118,555within the sector's middle half▼ 24.8%€99,828within the sector's middle half▼ 15.8%€80,205within the sector's middle half▼ 19.7%€57,207within the sector's middle half▼ 28.7%
Debt€18,441-€19,395▲ 5.2%€4,814▼ 75.2%€18,008▲ 274%€8,936▼ 50.4%€13,184▲ 47.6%€7,448▼ 43.5%€13,857▲ 86.0%
Working capital€107,972-€110,312▲ 2.2%€106,191above the sector's middle half▼ 3.7%€115,473above the sector's middle half▲ 8.7%€89,793above the sector's middle half▼ 22.2%€71,833above the sector's middle half▼ 20.0%€62,043above the sector's middle half▼ 13.6%€35,708within the sector's middle half▼ 42.4%
Solvency87.3%-87.2%▼ 0.1pp96.5%above the sector's middle half▲ 9.3pp88.6%above the sector's middle half▼ 7.9pp92.5%above the sector's middle half▲ 3.9pp86.8%above the sector's middle half▼ 5.7pp90.7%above the sector's middle half▲ 3.9pp75.8%above the sector's middle half▼ 14.9pp
Current ratio6.85-6.69▼ 0.1723.06above the sector's middle half▲ 16.377.41above the sector's middle half▼ 15.6511.05above the sector's middle half▲ 3.646.45above the sector's middle half▼ 4.609.33above the sector's middle half▲ 2.883.58above the sector's middle half▼ 5.75
Return on assets (ROA)2.0%-8.4%▲ 6.4pp0.5%within the sector's middle half▼ 7.9pp4.3%within the sector's middle half▲ 3.9pp-25.4%below the sector's middle half▼ 29.7pp-23.0%below the sector's middle half▲ 2.3pp-17.3%below the sector's middle half▲ 5.7pp-51.4%below the sector's middle half▼ 34.1pp
Staff (FTE)3.1-3.4▲ 9.7%3.7within the sector's middle half▲ 8.8%9.8▲ 165%9.7▼ 1.0%10.7▲ 10.3%12.8▲ 19.6%12.4▼ 3.1%
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 €28,911, larger than the loss of €14,241 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 €57,207
Fixed assets
€7,642 ▼ 28.7%
Current assets
€49,565 ▼ 28.7%
Equity and liabilities €57,207
Equity
€43,350 ▼ 40.4%
Debt
€13,857 ▲ 86.0%
Debt's share of the balance-sheet total rises from 9.3% to 24.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€25,840▼
2024 · -€9,830
Cash flow
-€26,335▼
2024 · -€9,476
Quick ratio
2.97▼
2024 · 7.99
Debt to equity
0.32▲
2024 · 0.10
ROE
-67.8%▼
2024 · -19.1%
Interest coverage
-50.91▲
2024 · -85.53
Debt ≤ 1 year
€13,857▲
2024 · €7,448
Staff costs
€178,225▲
2024 · €171,514
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 | 11 | 13 | 11 | 13 | 12 |
| full-time | - | 2 | - | - | - |
| part-time | 11 | 11 | 11 | 13 | 12 |
| in full-time equivalents | 3.6 | 5.6 | 3.6 | 4.6 | 4.2 |
| Average over the year, in full-time equivalents | 3.4 | 3.9 | 3.8 | 4.2 | 4.3 |
| On a permanent contract | 10 | 11 | 9 | 9 | 9 |
| Joined | 49 | 125 | 189 | 227 | 80 |
| Left | 48 | 123 | 191 | 225 | 81 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,948 | €2,308 | €1,647 | €313 | - |
| Depreciation and write-downs of the year | €6,438 | €6,686 | €6,662 | €4,411 | €3,071 |
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 | - | - | - | €81,075 | €153,885 | €171,039 | €171,514 | €178,225 | ▲ 3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,326 | €4,984 | €5,909 | €6,438 | €6,686 | €6,662 | €4,411 | €3,071 | ▼ 30.4% |
| Other operating charges640/8 | - | - | - | €3,183 | €4,812 | €5,207 | €2,680 | €6,136 | ▲ 129% |
| Gross operating margin9900 | €135,294 | €157,685 | €83,123 | €98,377 | €135,757 | €160,183 | €164,364 | €158,521 | ▼ 3.6% |
| Operating profit (loss)9901 | €5,025 | €19,265 | €699 | €7,682 | -€29,625 | -€22,726 | -€14,241 | -€28,911 | ▼ 103% |
| Financial income75/76B | - | - | - | €22 | €7 | €51 | €469 | €12 | ▼ 97.3% |
| Recurring financial income75 | €49 | €43 | €46 | €22 | €7 | €51 | €469 | €12 | ▼ 97.3% |
| Financial charges65/66B | - | - | - | €233 | €439 | €301 | €115 | €508 | ▲ 342% |
| Recurring financial charges65 | €144 | €219 | €120 | €233 | €439 | €301 | €115 | €508 | ▲ 342% |
| Profit (loss) for the period before taxes9903 | €4,930 | €19,088 | €625 | €7,471 | -€30,057 | -€22,976 | -€13,887 | -€29,406 | ▼ 112% |
| Income taxes67/77 | €2,041 | €6,369 | - | €679 | - | - | - | - | - |
| Profit (loss) for the period9904 | €2,889 | €12,720 | €625 | €6,791 | -€30,057 | -€22,976 | -€13,887 | -€29,406 | ▼ 112% |
| Profit (loss) for the period to be appropriated9905 | €2,889 | €12,720 | €625 | €6,791 | -€30,057 | -€22,976 | -€13,887 | -€29,406 | ▼ 112% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €145,125 | €151,656 | €137,699 | €157,685 | €118,555 | €99,828 | €80,205 | €57,207 | ▼ 28.7% |
| Fixed assets21/28 | €18,711 | €21,948 | €26,694 | €24,204 | €19,827 | €14,811 | €10,713 | €7,642 | ▼ 28.7% |
| Tangible fixed assets22/27 | €16,976 | €20,213 | €24,959 | €22,469 | €18,091 | €13,076 | €8,978 | €5,907 | ▼ 34.2% |
| Land and buildings22 | - | - | - | €9,492 | €7,407 | €4,702 | €3,160 | €2,185 | ▼ 30.9% |
| Plant, machinery and equipment23 | - | - | - | €11,457 | €9,925 | €8,374 | €5,818 | €3,722 | ▼ 36.0% |
| Furniture and vehicles24 | - | - | - | €1,520 | €760 | - | - | - | - |
| Financial fixed assets28 | €1,735 | €1,735 | €1,735 | €1,735 | €1,735 | €1,735 | €1,735 | €1,735 | = |
| Current assets29/58 | €126,414 | €129,707 | €111,005 | €133,481 | €98,729 | €85,017 | €69,491 | €49,565 | ▼ 28.7% |
| Stocks and contracts in progress3 | €4,903 | €6,041 | €8,322 | €7,810 | €8,330 | €8,897 | €9,966 | €8,414 | ▼ 15.6% |
| Stocks30/36 | - | - | - | €7,810 | €8,330 | €8,897 | €9,966 | €8,414 | ▼ 15.6% |
| Amounts receivable within one year40/41 | €51,365 | €44,286 | €25,228 | €28,823 | €24,656 | €25,826 | €19,361 | €11,968 | ▼ 38.2% |
| Trade receivables40 | - | - | - | €16,443 | €912 | €1,368 | €6,182 | €10,020 | ▲ 62.1% |
| Other amounts receivable41 | - | - | - | €12,379 | €23,744 | €24,458 | €13,179 | €1,947 | ▼ 85.2% |
| Cash at bank and in hand54/58 | €70,146 | €79,380 | €77,454 | €94,734 | €65,743 | €48,837 | €40,164 | €29,184 | ▼ 27.3% |
| Deferred charges and accrued income490/1 | - | - | - | €2,115 | - | €1,457 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €145,125 | €151,656 | €137,699 | €157,685 | €118,555 | €99,828 | €80,205 | €57,207 | ▼ 28.7% |
| Equity10/15 | €126,683 | €132,260 | €132,885 | €139,677 | €109,620 | €86,644 | €72,756 | €43,350 | ▼ 40.4% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €108,091 | €113,668 | €114,293 | €121,085 | €91,028 | €68,052 | €54,164 | €29,023 | ▼ 46.4% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | €119,225 | €89,169 | €66,192 | €54,164 | €29,023 | ▼ 46.4% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | -€4,266 | - |
| Amounts payable17/49 | €18,441 | €19,395 | €4,814 | €18,008 | €8,936 | €13,184 | €7,448 | €13,857 | ▲ 86.0% |
| Amounts payable within one year42/48 | €18,441 | €19,395 | €4,814 | €18,008 | €8,936 | €13,184 | €7,448 | €13,857 | ▲ 86.0% |
| Trade debts44 | €13,683 | €14,735 | €4,575 | €13,680 | €4,468 | €6,496 | €2,244 | €10,562 | ▲ 371% |
| Suppliers440/4 | - | - | - | €13,680 | €4,468 | €6,496 | €2,244 | €10,562 | ▲ 371% |
| Taxes, remuneration and social security45 | - | - | - | €4,181 | €4,320 | €6,540 | €5,057 | €3,148 | ▼ 37.8% |
| Taxes450/3 | - | - | - | €4,181 | €2,831 | €5,002 | €4,885 | €3,148 | ▼ 35.6% |
| Remuneration and social security454/9 | - | - | - | - | €1,489 | €1,539 | €172 | - | - |
| Other amounts payable47/48 | - | - | - | €148 | €148 | €148 | €148 | €148 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,889 | €12,720 | €625 | €6,791 | -€30,057 | -€22,976 | -€13,887 | -€29,406 | ▼ 112% |
| + Depreciation and write-downs630 | €5,326 | €4,984 | €5,909 | €6,438 | €6,686 | €6,662 | €4,411 | €3,071 | ▼ 30.4% |
| Operating cash flow (approximation) | €8,215 | €17,704 | €6,534 | €13,230 | -€23,371 | -€16,314 | -€9,476 | -€26,335 | ▼ 178% |
| Investment in fixed assets (approximation) | - | -€8,221 | -€10,655 | -€3,948 | -€2,308 | -€1,647 | -€313 | €0 | - |
| Change in cash | - | €9,234 | -€1,926 | €17,279 | -€28,991 | -€16,906 | -€8,672 | -€10,981 | ▼ 26.6% |
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, 929 companies had the same profile as BARKEEP has now. Two years later, 90.1% were still going and 1.1% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
90.1%
was still going
8.8%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of BARKEEP itself: 0.5% 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 929 companies, not a prediction for BARKEEP. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-06-2026 | 2026-00155682 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00168482 | |
| 31-12-2023 | micro format | 19-06-2024 | 2024-00145187 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00184346 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20130964 | |
| 31-12-2020 | micro format | 29-06-2021 | 2021-27300161 | |
| 31-12-2019 | micro format | 13-07-2020 | 2020-29400287 | |
| 31-12-2018 | micro format | 25-06-2019 | 2019-22700006 | |
| 31-12-2017 | micro format | 14-06-2018 | 2018-18700144 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-39200210 |