BENECOP
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 31-07-2025 PDF all 29 filings
Equity
€50,095▼ 20.7%
2023 · €63,148
Total assets
€91,120▼ 3.7%
2023 · €94,638
Net result
-€13,052▲ 34.8%
2023 · -€20,021
Working capital
-€40,958▼ 30.3%
2023 · -€31,436
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
-€12,997
▲ 33.9%
2024
20182024
Net result
-€13,052
▲ 34.8%
2024
lowest quarter of the sector
20182024
Equity
€50,095
▼ 20.7%
2024
middle half of the sector
20182024
Total assets
€91,120
▼ 3.7%
2024
middle half of the sector
20182024
Debt
€41,025
▲ 30.3%
2024
20182024
Working capital
-€40,958
▼ 30.3%
2024
lowest quarter of the sector
20182024
Solvency
55.0%
▼ 11.7pp
2024
middle half of the sector
20182024
Current ratio
0.00
=
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
-14.3%
▲ 6.8pp
2024
lowest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€3,550-€5,546▲ 56.2%-€839-€7,696▼ 817%-€12,235▼ 59.0%-€19,651▼ 60.6%-€12,997▲ 33.9%
Net result€3,409-€3,672▲ 7.7%-€888within the sector's middle half-€9,639below the sector's middle half▼ 985%-€12,282below the sector's middle half▼ 27.4%-€20,021below the sector's middle half▼ 63.0%-€13,052below the sector's middle half▲ 34.8%
Equity€102,305-€105,978▲ 3.6%€105,089above the sector's middle half▼ 0.8%€95,450above the sector's middle half▼ 9.2%€83,169above the sector's middle half▼ 12.9%€63,148within the sector's middle half▼ 24.1%€50,095within the sector's middle half▼ 20.7%
Total assets€120,633-€111,038▼ 8.0%€108,835within the sector's middle half▼ 2.0%€105,296within the sector's middle half▼ 3.3%€98,782within the sector's middle half▼ 6.2%€94,638within the sector's middle half▼ 4.2%€91,120within the sector's middle half▼ 3.7%
Debt€18,327-€5,061▼ 72.4%€3,746▼ 26.0%€9,846▲ 163%€15,614▲ 58.6%€31,490▲ 102%€41,025▲ 30.3%
Working capital-€9,926--€2,724▲ 72.6%-€83within the sector's middle half▲ 97.0%-€6,193within the sector's middle half▼ 7,372%-€14,945within the sector's middle half▼ 141%-€31,436within the sector's middle half▼ 110%-€40,958below the sector's middle half▼ 30.3%
Solvency84.8%-95.4%▲ 10.6pp96.6%above the sector's middle half▲ 1.1pp90.6%above the sector's middle half▼ 5.9pp84.2%above the sector's middle half▼ 6.5pp66.7%above the sector's middle half▼ 17.5pp55.0%within the sector's middle half▼ 11.7pp
Current ratio0.46-0.46=0.98within the sector's middle half▲ 0.520.37below the sector's middle half▼ 0.610.04below the sector's middle half▼ 0.330.00below the sector's middle half▼ 0.040.00below the sector's middle half=
Return on assets (ROA)2.8%-3.3%▲ 0.5pp-0.8%within the sector's middle half▼ 4.1pp-9.2%below the sector's middle half▼ 8.3pp-12.4%below the sector's middle half▼ 3.3pp-21.2%below the sector's middle half▼ 8.7pp-14.3%below the sector's middle half▲ 6.8pp
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 2024 is a loss of €12,997, smaller than the loss of €19,651 in 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €91,120
Fixed assets
€91,054 ▼ 3.7%
Current assets
€66 ▲ 21.0%
Equity and liabilities €91,120
Equity
€50,095 ▼ 20.7%
Debt
€41,025 ▲ 30.3%
Debt's share of the balance-sheet total rises from 33.3% to 45.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€9,467▲
2023 · -€16,122
Cash flow
-€9,523▲
2023 · -€16,491
Debt to equity
0.82▲
2023 · 0.50
ROE
-26.1%▲
2023 · -31.7%
Interest coverage
-170.70▼
2023 · -43.65
Debt ≤ 1 year
€41,025▲
2023 · €31,490
Staff costs
€387▲
2023 · €384
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 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €348 | - | - | €384 | €387 | ▲ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,530 | €3,530 | €3,530 | €3,530 | €3,530 | €3,530 | €3,530 | = |
| Other operating charges640/8 | - | - | €3,787 | €3,814 | €3,902 | €4,410 | €4,430 | ▲ 0.5% |
| Gross operating margin9900 | €11,092 | €13,007 | €6,825 | -€353 | -€4,803 | -€11,327 | -€4,649 | ▲ 59.0% |
| Operating profit (loss)9901 | €3,550 | €5,546 | -€839 | -€7,696 | -€12,235 | -€19,651 | -€12,997 | ▲ 33.9% |
| Financial income75/76B | - | - | €4 | - | - | - | - | - |
| Recurring financial income75 | €227 | - | €4 | - | - | - | - | - |
| Financial charges65/66B | - | - | €53 | €243 | €57 | €369 | €55 | ▼ 85.0% |
| Recurring financial charges65 | €65 | €179 | €53 | €243 | €57 | €369 | €55 | ▼ 85.0% |
| Profit (loss) for the period before taxes9903 | €3,712 | €5,367 | -€888 | -€7,939 | -€12,292 | -€20,021 | -€13,052 | ▲ 34.8% |
| Income taxes67/77 | €302 | €1,695 | - | €1,700 | -€10 | - | - | - |
| Profit (loss) for the period9904 | €3,409 | €3,672 | -€888 | -€9,639 | -€12,282 | -€20,021 | -€13,052 | ▲ 34.8% |
| Profit (loss) for the period to be appropriated9905 | €3,409 | €3,672 | -€888 | -€9,639 | -€12,282 | -€20,021 | -€13,052 | ▲ 34.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €120,633 | €111,038 | €108,835 | €105,296 | €98,782 | €94,638 | €91,120 | ▼ 3.7% |
| Fixed assets21/28 | €112,232 | €108,702 | €105,172 | €101,643 | €98,113 | €94,583 | €91,054 | ▼ 3.7% |
| Tangible fixed assets22/27 | €112,232 | €108,702 | €105,172 | €101,643 | €98,113 | €94,583 | €91,054 | ▼ 3.7% |
| Land and buildings22 | - | - | €105,172 | €101,643 | €98,113 | €94,583 | €91,054 | ▼ 3.7% |
| Current assets29/58 | €8,401 | €2,336 | €3,663 | €3,653 | €669 | €55 | €66 | ▲ 21.0% |
| Amounts receivable within one year40/41 | - | - | €1,506 | €1,506 | - | - | - | - |
| Other amounts receivable41 | - | - | €1,506 | €1,506 | - | - | - | - |
| Cash at bank and in hand54/58 | €2,915 | €425 | €154 | €29 | €669 | €55 | €66 | ▲ 21.0% |
| Deferred charges and accrued income490/1 | - | - | €2,003 | €2,118 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €120,633 | €111,038 | €108,835 | €105,296 | €98,782 | €94,638 | €91,120 | ▼ 3.7% |
| Equity10/15 | €102,305 | €105,978 | €105,089 | €95,450 | €83,169 | €63,148 | €50,095 | ▼ 20.7% |
| Contributions10/11 | €45,612 | €45,612 | €45,612 | €45,612 | €45,612 | €45,612 | €45,612 | = |
| Capital10 | - | - | €45,612 | €45,612 | €45,612 | €45,612 | €45,612 | = |
| Issued capital100 | - | - | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Uncalled capital101 | - | - | €16,361 | €16,361 | €16,361 | €16,361 | €16,361 | = |
| Reserves13 | €36,197 | €36,197 | €36,197 | €36,197 | €36,197 | €36,197 | €36,197 | = |
| Non-distributable reserves130/1 | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | - | - | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Distributable reserves133 | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Profit (loss) carried forward14 | €20,496 | €24,168 | €23,280 | €13,640 | €1,359 | -€18,662 | -€31,714 | ▼ 69.9% |
| Amounts payable17/49 | €18,327 | €5,061 | €3,746 | €9,846 | €15,614 | €31,490 | €41,025 | ▲ 30.3% |
| Amounts payable within one year42/48 | €18,327 | €5,061 | €3,746 | €9,846 | €15,614 | €31,490 | €41,025 | ▲ 30.3% |
| Trade debts44 | €8,776 | €2,640 | €1,602 | €4,158 | €2,612 | €5,379 | €2,863 | ▼ 46.8% |
| Suppliers440/4 | - | - | €1,602 | €4,158 | €2,612 | €5,379 | €2,863 | ▼ 46.8% |
| Taxes, remuneration and social security45 | - | - | €1,695 | €1,695 | - | - | - | - |
| Taxes450/3 | - | - | €1,695 | €1,695 | - | - | - | - |
| Other amounts payable47/48 | - | - | €449 | €3,993 | €13,002 | €26,112 | €38,162 | ▲ 46.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,409 | €3,672 | -€888 | -€9,639 | -€12,282 | -€20,021 | -€13,052 | ▲ 34.8% |
| + Depreciation and write-downs630 | €3,530 | €3,530 | €3,530 | €3,530 | €3,530 | €3,530 | €3,530 | = |
| Operating cash flow (approximation) | €6,939 | €7,202 | €2,641 | -€6,110 | -€8,752 | -€16,491 | -€9,523 | ▲ 42.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,491 | -€271 | -€125 | €640 | -€615 | €11 | - |
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, 5,831 companies had the same profile as BENECOP has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BENECOP itself is higher: 3.6% within 12 months. It rests on far more data about BENECOP than the profile alone.
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 5,831 companies, not a prediction for BENECOP. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 31-07-2025 | 2025-00351198 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00448439 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00307335 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20376812 | |
| 31-12-2020 | micro format | 20-05-2022 | 2022-20035646 | |
| 31-12-2019 | micro format | 29-12-2020 | 2020-77500037 | |
| 31-12-2018 | micro format | 21-08-2019 | 2019-48700032 | |
| 31-12-2017 | micro format | 07-09-2018 | 2018-62400296 | |
| 31-12-2016 | abbreviated format | 10-08-2017 | 2017-43400174 | |
| 31-12-2015 | abbreviated format | 01-08-2016 | 2016-39300431 |