BEBRONNA
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 16-06-2026 at the NBB all 15 filings
Turnover
≈ €960,000
Estimated: probably between €900,000 and €1.3m
Total assets
€326,962▼ 6.8%
2024 · €350,754
Net result
€6,126▼ 76.1%
2024 · €25,618
Working capital
€94,991▲ 40.2%
2024 · €67,766
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€21,703
▼ 55.6%
2025
20182025
Net result
€6,126
▼ 76.1%
2025
middle half of the sector
20182025
Equity
€185,695
▲ 3.4%
2025
middle half of the sector
20182025
Total assets
€326,962
▼ 6.8%
2025
middle half of the sector
20182025
Debt
€141,267
▼ 17.5%
2025
20182025
Working capital
€94,991
▲ 40.2%
2025
middle half of the sector
20182025
Solvency
56.8%
▲ 5.6pp
2025
highest quarter of the sector
20182025
Current ratio
1.70
▲ 0.28
2025
middle half of the sector
20182025
Return on assets (ROA)
1.9%
▼ 5.4pp
2025
middle half of the sector
20182025
Staff (FTE)
11.2
▼ 18.8%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€44,231-€15,485€51,498▲ 233%€32,481▼ 36.9%€88,282▲ 172%€62,046▼ 29.7%€48,880▼ 21.2%€21,703▼ 55.6%
Net result-€39,402--€31,569▲ 19.9%€38,015above the sector's middle half€25,741within the sector's middle half▼ 32.3%€78,091within the sector's middle half▲ 203%€45,476within the sector's middle half▼ 41.8%€25,618within the sector's middle half▼ 43.7%€6,126within the sector's middle half▼ 76.1%
Equity€28,197--€3,372€34,644within the sector's middle half€60,385within the sector's middle half▲ 74.3%€108,475within the sector's middle half▲ 79.6%€153,952within the sector's middle half▲ 41.9%€179,569within the sector's middle half▲ 16.6%€185,695within the sector's middle half▲ 3.4%
Total assets€506,312-€498,701▼ 1.5%€538,764within the sector's middle half▲ 8.0%€508,516within the sector's middle half▼ 5.6%€628,304within the sector's middle half▲ 23.6%€689,883within the sector's middle half▲ 9.8%€350,754within the sector's middle half▼ 49.2%€326,962within the sector's middle half▼ 6.8%
Debt€478,115-€502,073▲ 5.0%€504,120▲ 0.4%€448,131▼ 11.1%€519,829▲ 16.0%€535,931▲ 3.1%€171,185▼ 68.1%€141,267▼ 17.5%
Working capital-€173,723--€176,448▼ 1.6%-€119,119below the sector's middle half▲ 32.5%-€80,648below the sector's middle half▲ 32.3%-€52,756within the sector's middle half▲ 34.6%€19,201within the sector's middle half€67,766within the sector's middle half▲ 253%€94,991within the sector's middle half▲ 40.2%
Solvency5.6%--0.7%▼ 6.2pp6.4%within the sector's middle half▲ 7.1pp11.9%within the sector's middle half▲ 5.4pp17.3%within the sector's middle half▲ 5.4pp22.3%within the sector's middle half▲ 5.1pp51.2%within the sector's middle half▲ 28.9pp56.8%above the sector's middle half▲ 5.6pp
Current ratio0.62-0.62=0.75within the sector's middle half▲ 0.130.81within the sector's middle half▲ 0.060.90within the sector's middle half▲ 0.091.04within the sector's middle half▲ 0.141.43within the sector's middle half▲ 0.391.70within the sector's middle half▲ 0.28
Return on assets (ROA)-7.8%--6.3%▲ 1.5pp7.1%within the sector's middle half▲ 13.4pp5.1%within the sector's middle half▼ 2.0pp12.4%within the sector's middle half▲ 7.4pp6.6%within the sector's middle half▼ 5.8pp7.3%within the sector's middle half▲ 0.7pp1.9%within the sector's middle half▼ 5.4pp
Staff (FTE)7.6-5.5▼ 27.6%5.2within the sector's middle half▼ 5.5%5.5within the sector's middle half▲ 5.8%9.3within the sector's middle half▲ 69.1%14.4within the sector's middle half▲ 54.8%13.8within the sector's middle half▼ 4.2%11.2within the sector's middle half▼ 18.8%
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 56% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
Turnover and EBIT margin are not published. The abbreviated 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 €326,962
Fixed assets
€97,039 ▼ 21.6%
Current assets
€229,923 ▲ 1.3%
Equity and liabilities €326,962
Equity
€185,695 ▲ 3.4%
Debt
€141,267 ▼ 17.5%
Debt's share of the balance-sheet total falls from 48.8% to 43.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51,624▼
2024 · €79,593
Cash flow
€36,047▼
2024 · €56,331
Quick ratio
1.59▲
2024 · 1.33
Debt to equity
0.76▼
2024 · 0.95
ROE
3.3%▼
2024 · 14.3%
Interest coverage
4.37▼
2024 · 5.93
Debt ≤ 1 year
€134,933▼
2024 · €159,281
Debt > 1 year
€6,334▼
2024 · €11,904
Income taxes
€4,274▼
2024 · €10,242
Staff costs
€356,375▲
2024 · €292,741
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 | 10 | 24 | 15 | 12 | 8 |
| full-time | 9 | 17 | 14 | 8 | 5 |
| part-time | 1 | 7 | 1 | 4 | 3 |
| in full-time equivalents | 9.1 | 17.9 | 14.5 | 9.6 | 7.2 |
| Average over the year, in full-time equivalents | 5.5 | 9.3 | 14.4 | 13.8 | 11.2 |
| On a permanent contract | 3 | 4 | 4 | 5 | 7 |
| Joined | 16 | 41 | 50 | 43 | 152 |
| Left | 11 | 27 | 59 | 46 | 156 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €910 | €33,072 | €11,901 | €2,450 | €3,253 |
| Financial fixed assets | - | €35 | €5 | - | €0 |
| Depreciation and write-downs of the year | €24,423 | €24,649 | €30,993 | €30,713 | €29,921 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €14,451 awarded · €14,451 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €71,533 | €202,102 | €269,065 | €292,741 | €356,375 | ▲ 21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,183 | €31,441 | €28,414 | €24,423 | €24,649 | €30,993 | €30,713 | €29,921 | ▼ 2.6% |
| Other operating charges640/8 | - | - | - | €1,344 | €12,489 | €2,701 | €3,734 | €2,689 | ▼ 28.0% |
| Non-recurring operating charges66A | - | - | - | €1,106 | €1,106 | €1,106 | €1,106 | €1,106 | = |
| Gross operating margin9900 | €206,462 | €217,848 | €200,817 | €130,887 | €328,628 | €365,912 | €377,174 | €411,794 | ▲ 9.2% |
| Operating profit (loss)9901 | -€44,231 | €15,485 | €51,498 | €32,481 | €88,282 | €62,046 | €48,880 | €21,703 | ▼ 55.6% |
| Financial income75/76B | - | - | - | €152 | €192 | €13,318 | €409 | €500 | ▲ 22.4% |
| Recurring financial income75 | €2,039 | €919 | €1,885 | €152 | €192 | €13,318 | €409 | €500 | ▲ 22.4% |
| Financial charges65/66B | - | - | - | €6,575 | €6,333 | €13,682 | €13,429 | €11,803 | ▼ 12.1% |
| Recurring financial charges65 | €9,664 | €15,371 | €15,129 | €6,575 | €6,333 | €13,682 | €13,429 | €11,803 | ▼ 12.1% |
| Profit (loss) for the period before taxes9903 | -€37,513 | €1,033 | €38,255 | €26,058 | €82,140 | €61,682 | €35,860 | €10,400 | ▼ 71.0% |
| Income taxes67/77 | €1,890 | €32,601 | €240 | €317 | €4,050 | €16,205 | €10,242 | €4,274 | ▼ 58.3% |
| Profit (loss) for the period9904 | -€39,402 | -€31,569 | €38,015 | €25,741 | €78,091 | €45,476 | €25,618 | €6,126 | ▼ 76.1% |
| Profit (loss) for the period to be appropriated9905 | -€39,402 | -€31,569 | €38,015 | €25,741 | €78,091 | €45,476 | €25,618 | €6,126 | ▼ 76.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €506,312 | €498,701 | €538,764 | €508,516 | €628,304 | €689,883 | €350,754 | €326,962 | ▼ 6.8% |
| Fixed assets21/28 | €223,206 | €208,251 | €186,167 | €162,653 | €171,112 | €151,970 | €123,707 | €97,039 | ▼ 21.6% |
| Tangible fixed assets22/27 | €223,065 | €208,110 | €186,026 | €162,512 | €170,936 | €151,844 | €123,581 | €96,913 | ▼ 21.6% |
| Land and buildings22 | - | - | - | €19,364 | €16,707 | €14,049 | €11,392 | €8,735 | ▼ 23.3% |
| Plant, machinery and equipment23 | - | - | - | €141,622 | €121,750 | €110,328 | €93,220 | €76,553 | ▼ 17.9% |
| Furniture and vehicles24 | - | - | - | €1,527 | €32,479 | €27,466 | €18,969 | €11,625 | ▼ 38.7% |
| Financial fixed assets28 | €141 | €141 | €141 | €141 | €176 | €126 | €126 | €126 | = |
| Current assets29/58 | €283,106 | €290,451 | €352,597 | €345,863 | €457,193 | €537,913 | €227,047 | €229,923 | ▲ 1.3% |
| Amounts receivable after more than one year29 | - | - | - | - | €50,000 | €50,000 | €0 | - | - |
| Other amounts receivable291 | - | - | - | - | €50,000 | €50,000 | €0 | - | - |
| Stocks and contracts in progress3 | €15,448 | €15,537 | €13,920 | €14,485 | €14,061 | €16,081 | €15,938 | €15,728 | ▼ 1.3% |
| Stocks30/36 | - | - | - | €14,485 | €14,061 | €16,081 | €15,938 | €15,728 | ▼ 1.3% |
| Amounts receivable within one year40/41 | €255,105 | €265,612 | €293,825 | €292,161 | €348,706 | €417,186 | €169,033 | €150,360 | ▼ 11.0% |
| Trade receivables40 | - | - | - | €200,585 | €342,913 | €399,793 | €132,481 | €142,376 | ▲ 7.5% |
| Other amounts receivable41 | - | - | - | €91,575 | €5,793 | €17,392 | €36,553 | €7,984 | ▼ 78.2% |
| Cash at bank and in hand54/58 | €3,647 | €9,266 | €12,181 | €12,576 | €23,356 | €20,807 | €21,288 | €38,614 | ▲ 81.4% |
| Deferred charges and accrued income490/1 | - | - | - | €26,641 | €21,070 | €33,840 | €20,789 | €25,222 | ▲ 21.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €506,312 | €498,701 | €538,764 | €508,516 | €628,304 | €689,883 | €350,754 | €326,962 | ▼ 6.8% |
| Equity10/15 | €28,197 | -€3,372 | €34,644 | €60,385 | €108,475 | €153,952 | €179,569 | €185,695 | ▲ 3.4% |
| Contributions10/11 | €90,000 | - | - | €90,000 | €90,000 | €90,000 | €90,000 | €90,000 | = |
| Profit (loss) carried forward14 | -€61,803 | -€93,372 | -€55,356 | -€29,615 | €18,475 | €63,952 | €89,569 | €95,695 | ▲ 6.8% |
| Amounts payable17/49 | €478,115 | €502,073 | €504,120 | €448,131 | €519,829 | €535,931 | €171,185 | €141,267 | ▼ 17.5% |
| Amounts payable after more than one year17 | €18,646 | €35,174 | €32,404 | €21,621 | €9,881 | €17,219 | €11,904 | €6,334 | ▼ 46.8% |
| Financial debts170/4 | - | - | - | €21,621 | €9,881 | €17,219 | €11,904 | €6,334 | ▼ 46.8% |
| Amounts payable within one year42/48 | €456,829 | €466,899 | €471,716 | €426,510 | €509,949 | €518,712 | €159,281 | €134,933 | ▼ 15.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,783 | €10,400 | €14,951 | €9,630 | €9,871 | ▲ 2.5% |
| Financial debts43 | - | - | - | €30,000 | €25,000 | €44,500 | €0 | - | - |
| Credit institutions430/8 | - | - | - | €30,000 | €25,000 | €44,500 | €0 | - | - |
| Trade debts44 | €192,685 | €205,260 | €300,059 | €309,877 | €367,123 | €387,532 | €85,811 | €77,014 | ▼ 10.3% |
| Suppliers440/4 | - | - | - | €309,877 | €367,123 | €387,532 | €85,811 | €77,014 | ▼ 10.3% |
| Advances received on contracts in progress46 | - | - | - | €61,890 | €44,206 | €36,286 | €36,344 | €27,550 | ▼ 24.2% |
| Taxes, remuneration and social security45 | - | - | - | €3,029 | €17,957 | €17,148 | €19,215 | €20,498 | ▲ 6.7% |
| Taxes450/3 | - | - | - | €981 | €8,367 | €4,233 | €9,312 | €7,324 | ▼ 21.3% |
| Remuneration and social security454/9 | - | - | - | €2,048 | €9,590 | €12,915 | €9,903 | €13,174 | ▲ 33.0% |
| Other amounts payable47/48 | - | - | - | €10,931 | €45,262 | €18,296 | €8,281 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€39,402 | -€31,569 | €38,015 | €25,741 | €78,091 | €45,476 | €25,618 | €6,126 | ▼ 76.1% |
| + Depreciation and write-downs630 | €29,183 | €31,441 | €28,414 | €24,423 | €24,649 | €30,993 | €30,713 | €29,921 | ▼ 2.6% |
| Operating cash flow (approximation) | -€10,219 | -€127 | €66,429 | €50,164 | €102,739 | €76,469 | €56,331 | €36,047 | ▼ 36.0% |
| Investment in fixed assets (approximation) | - | -€16,486 | -€6,330 | -€910 | -€33,107 | -€11,851 | -€2,450 | -€3,253 | ▼ 32.8% |
| Change in cash | - | €5,619 | €2,915 | €395 | €10,781 | -€2,549 | €480 | €17,326 | ▲ 36× |
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, 6,049 companies had the same profile as BEBRONNA has now. Two years later, 95.9% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.9%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
That fits the bankruptcy probability of BEBRONNA 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 6,049 companies, not a prediction for BEBRONNA. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-06-2026 | 2026-00175704 | |
| 31-12-2024 | abbreviated format | 24-06-2025 | 2025-00203784 | |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00208238 | |
| 31-12-2022 | abbreviated format | 20-07-2023 | 2023-00264497 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20142750 | |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-45200039 | |
| 31-12-2019 | abbreviated format | 31-07-2020 | 2020-38600269 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-43300359 | |
| 31-12-2017 | abbreviated format | 23-07-2018 | 2018-36200370 | |
| 31-12-2016 | abbreviated format | 19-07-2017 | 2017-33000107 |