Bear & Bee
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-01-2026 PDF all 6 filings
Equity
-€40,812▼ 7.6%
2024 · -€37,912
Total assets
€6,074▲ 5.7%
2024 · €5,749
Net result
-€2,899▲ 86.0%
2024 · -€20,782
Working capital
-€10,812▼ 36.6%
2024 · -€7,912
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€2,534
▲ 87.3%
2025
20202025
Net result
-€2,899
▲ 86.0%
2025
middle half of the sector
20202025
Equity
-€40,812
▼ 7.6%
2025
lowest quarter of the sector
20202025
Total assets
€6,074
▲ 5.7%
2025
lowest quarter of the sector
20202025
Debt
€46,886
▲ 7.4%
2025
20202025
Working capital
-€10,812
▼ 36.6%
2025
middle half of the sector
20202025
Solvency
-671.9%
▼ 12.4pp
2025
lowest quarter of the sector
20202025
Current ratio
0.36
▼ 0.06
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
-47.7%
▲ 313.8pp
2025
lowest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€28,679--€6,755▲ 76.4%-€4,479▲ 33.7%€15,385-€20,006-€2,534▲ 87.3%
Net result-€29,715below the sector's middle half--€7,665below the sector's middle half▲ 74.2%-€6,025within the sector's middle half▲ 21.4%€13,875within the sector's middle half-€20,782below the sector's middle half-€2,899within the sector's middle half▲ 86.0%
Equity-€17,315below the sector's middle half--€24,980below the sector's middle half▼ 44.3%-€31,005below the sector's middle half▼ 24.1%-€17,130below the sector's middle half▲ 44.8%-€37,912below the sector's middle half▼ 121%-€40,812below the sector's middle half▼ 7.6%
Total assets€19,152below the sector's middle half-€15,721below the sector's middle half▼ 17.9%€15,862below the sector's middle half▲ 0.9%€30,817below the sector's middle half▲ 94.3%€5,749below the sector's middle half▼ 81.3%€6,074below the sector's middle half▲ 5.7%
Debt€36,467-€40,701▲ 11.6%€46,867▲ 15.2%€47,947▲ 2.3%€43,661▼ 8.9%€46,886▲ 7.4%
Working capital€1,905within the sector's middle half--€2,525within the sector's middle half-€4,865within the sector's middle half▼ 92.7%€13,170within the sector's middle half-€7,912within the sector's middle half-€10,812within the sector's middle half▼ 36.6%
Solvency-90.4%below the sector's middle half--158.9%below the sector's middle half▼ 68.5pp-195.5%below the sector's middle half▼ 36.6pp-55.6%below the sector's middle half▲ 139.9pp-659.5%below the sector's middle half▼ 603.9pp-671.9%below the sector's middle half▼ 12.4pp
Current ratio1.29within the sector's middle half-0.76within the sector's middle half▼ 0.530.71within the sector's middle half▼ 0.061.75within the sector's middle half▲ 1.040.42below the sector's middle half▼ 1.330.36below the sector's middle half▼ 0.06
Return on assets (ROA)-155.2%below the sector's middle half--48.8%below the sector's middle half▲ 106.4pp-38.0%below the sector's middle half▲ 10.8pp45.0%above the sector's middle half▲ 83.0pp-361.5%below the sector's middle half▼ 406.5pp-47.7%below the sector's middle half▲ 313.8pp
Staff (FTE)0.11.8▲ 18×1.2▼ 33.3%0▼ 100%
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 €2,534, smaller than the loss of €20,006 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Debt ≤ 1 year
€16,886▲
2024 · €13,661
Debt > 1 year
€30,000=
2024 · €30,000
Income taxes
€0▼
2024 · €213
Staff costs
€0▼
2024 · €862
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 | 30-06-2022 | 30-06-2023 | 30-06-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 1 | - |
| full-time | 0 | 0 | - |
| part-time | 2 | 1 | - |
| in full-time equivalents | 0.9 | 0.1 | - |
| Average over the year, in full-time equivalents | 0.5 | 0.7 | 0 |
| On a permanent contract | 1 | - | - |
| Joined | 18 | 4 | - |
| Left | 16 | 5 | - |
Source: social balance sheet in the 2022 to 2024 annual accounts
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5,840 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | €28,406 | €29,723 | €862 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,203 | €2,840 | €2,801 | €0 | - | - | - |
| Other operating charges640/8 | - | - | €2,263 | €1,708 | €923 | €755 | ▼ 18.2% |
| Gross operating margin9900 | -€8,733 | €2,521 | €28,990 | €46,816 | -€18,222 | -€1,779 | ▲ 90.2% |
| Operating profit (loss)9901 | -€28,679 | -€6,755 | -€4,479 | €15,385 | -€20,006 | -€2,534 | ▲ 87.3% |
| Financial income75/76B | - | - | €7 | €42 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €7 | €14 | €7 | €42 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €1,553 | €1,400 | €563 | €365 | ▼ 35.0% |
| Recurring financial charges65 | €1,042 | €924 | €1,553 | €1,400 | €563 | €365 | ▼ 35.0% |
| Profit (loss) for the period before taxes9903 | -€29,715 | -€7,665 | -€6,025 | €14,026 | -€20,569 | -€2,899 | ▲ 85.9% |
| Income taxes67/77 | - | - | - | €151 | €213 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€29,715 | -€7,665 | -€6,025 | €13,875 | -€20,782 | -€2,899 | ▲ 86.0% |
| Profit (loss) for the period to be appropriated9905 | -€29,715 | -€7,665 | -€6,025 | €13,875 | -€20,782 | -€2,899 | ▲ 86.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €19,152 | €15,721 | €15,862 | €30,817 | €5,749 | €6,074 | ▲ 5.7% |
| Fixed assets21/28 | €10,780 | €7,545 | €4,160 | €0 | - | - | - |
| Tangible fixed assets22/27 | €10,196 | €6,961 | €4,160 | €0 | - | - | - |
| Plant, machinery and equipment23 | - | - | €3,515 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | €645 | €0 | - | - | - |
| Financial fixed assets28 | €584 | €584 | €0 | - | - | - | - |
| Current assets29/58 | €8,372 | €8,176 | €11,702 | €30,817 | €5,749 | €6,074 | ▲ 5.7% |
| Amounts receivable within one year40/41 | €2,550 | €1,444 | €2,054 | €11,365 | €5,732 | €5,732 | = |
| Trade receivables40 | - | - | €1,602 | €10,738 | €5,256 | €5,256 | = |
| Other amounts receivable41 | - | - | €452 | €626 | €476 | €476 | = |
| Cash at bank and in hand54/58 | €5,822 | €5,703 | €8,487 | €18,196 | €16 | €342 | ▲ 21× |
| Deferred charges and accrued income490/1 | - | - | €1,161 | €1,257 | €0 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €19,152 | €15,721 | €15,862 | €30,817 | €5,749 | €6,074 | ▲ 5.7% |
| Equity10/15 | -€17,315 | -€24,980 | -€31,005 | -€17,130 | -€37,912 | -€40,812 | ▼ 7.6% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | -€29,715 | -€37,380 | -€43,405 | -€29,530 | -€50,312 | -€53,212 | ▼ 5.8% |
| Amounts payable17/49 | €36,467 | €40,701 | €46,867 | €47,947 | €43,661 | €46,886 | ▲ 7.4% |
| Amounts payable after more than one year17 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Financial debts170/4 | - | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Amounts payable within one year42/48 | €6,467 | €10,701 | €16,567 | €17,647 | €13,661 | €16,886 | ▲ 23.6% |
| Financial debts43 | - | - | - | - | €8,100 | €13,500 | ▲ 66.7% |
| Other loans439 | - | - | - | - | €8,100 | €13,500 | ▲ 66.7% |
| Trade debts44 | €3,041 | €965 | €2,446 | €4,052 | €1,055 | €66 | ▼ 93.8% |
| Suppliers440/4 | - | - | €2,446 | €4,052 | €1,055 | €66 | ▼ 93.8% |
| Taxes, remuneration and social security45 | - | - | €5,991 | €7,410 | €213 | €439 | ▲ 106% |
| Taxes450/3 | - | - | €2,863 | €2,939 | €213 | €439 | ▲ 106% |
| Remuneration and social security454/9 | - | - | €3,128 | €4,471 | €0 | - | - |
| Other amounts payable47/48 | - | - | €8,130 | €6,185 | €4,292 | €2,881 | ▼ 32.9% |
| Accrued charges and deferred income492/3 | - | - | €300 | €300 | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€29,715 | -€7,665 | -€6,025 | €13,875 | -€20,782 | -€2,899 | ▲ 86.0% |
| + Depreciation and write-downs630 | €4,203 | €2,840 | €2,801 | €0 | - | - | - |
| Operating cash flow (approximation) | -€25,512 | -€4,825 | -€3,224 | €13,875 | -€20,782 | -€2,899 | ▲ 86.0% |
| Investment in fixed assets (approximation) | - | €395 | €584 | €4,160 | - | - | - |
| Change in cash | - | -€118 | €2,783 | €9,709 | -€18,179 | €326 | - |
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 Bear & Bee 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 Bear & Bee itself: 2.9% 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 Bear & Bee. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 26-01-2026 | 2026-00013243 | |
| 30-06-2024 | micro format | 29-01-2025 | 2025-00013328 | |
| 30-06-2023 | micro format | 29-01-2024 | 2024-00008948 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00008936 | |
| 30-06-2021 | micro format | 30-01-2022 | 2022-04200364 | |
| 30-06-2020 | micro format | 30-01-2021 | 2021-03200309 |