COLLU
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 10 filings
Turnover
≈ €250,000
Estimated: probably between €190,000 and €300,000
EBIT margin
Not included in this filing
Net result
€35,326
2024 · -€11,465
Working capital
€27,415
2024 · -€1,133
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€40,877
2025
20182025
Net result
€35,326
2025
highest quarter of the sector
20182025
Equity
€97,466
▲ 5.6%
2025
highest quarter of the sector
20182025
Total assets
€135,516
▼ 19.2%
2025
middle half of the sector
20182025
Debt
€38,051
▼ 49.5%
2025
20182025
Working capital
€27,415
2025
middle half of the sector
20182025
Solvency
71.9%
▲ 16.9pp
2025
highest quarter of the sector
20182025
Current ratio
1.72
▲ 0.74
2025
middle half of the sector
20182025
Return on assets (ROA)
26.1%
▲ 32.9pp
2025
highest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€9,679-€18,340▲ 89.5%€53,803▲ 193%€40,566▼ 24.6%€35,946▼ 11.4%-€15,277-€11,747▲ 23.1%€40,877
Net result-€48-€20,454€42,411above the sector's middle half▲ 107%€29,721above the sector's middle half▼ 29.9%€29,007above the sector's middle half▼ 2.4%-€18,656below the sector's middle half-€11,465below the sector's middle half▲ 38.5%€35,326above the sector's middle half
Equity€25,837-€46,291▲ 79.2%€88,701within the sector's middle half▲ 91.6%€118,422above the sector's middle half▲ 33.5%€147,429above the sector's middle half▲ 24.5%€128,773above the sector's middle half▼ 12.7%€92,308above the sector's middle half▼ 28.3%€97,466above the sector's middle half▲ 5.6%
Total assets€141,082-€115,679▼ 18.0%€129,594within the sector's middle half▲ 12.0%€155,056within the sector's middle half▲ 19.6%€176,443within the sector's middle half▲ 13.8%€184,448within the sector's middle half▲ 4.5%€167,670within the sector's middle half▼ 9.1%€135,516within the sector's middle half▼ 19.2%
Debt€115,245-€69,388▼ 39.8%€40,893▼ 41.1%€36,634▼ 10.4%€29,014▼ 20.8%€55,674▲ 91.9%€75,362▲ 35.4%€38,051▼ 49.5%
Working capital-€17,931--€4,891▲ 72.7%€41,273within the sector's middle half€57,789above the sector's middle half▲ 40.0%€90,013above the sector's middle half▲ 55.8%€53,183above the sector's middle half▼ 40.9%-€1,133within the sector's middle half€27,415within the sector's middle half
Solvency18.3%-40.0%▲ 21.7pp68.4%above the sector's middle half▲ 28.4pp76.4%above the sector's middle half▲ 7.9pp83.6%above the sector's middle half▲ 7.2pp69.8%above the sector's middle half▼ 13.7pp55.1%within the sector's middle half▼ 14.8pp71.9%above the sector's middle half▲ 16.9pp
Current ratio0.74-0.89▲ 0.152.54above the sector's middle half▲ 1.652.77above the sector's middle half▲ 0.244.10above the sector's middle half▲ 1.333.75above the sector's middle half▼ 0.350.98within the sector's middle half▼ 2.771.72within the sector's middle half▲ 0.74
Return on assets (ROA)0.0%-17.7%▲ 17.7pp32.7%above the sector's middle half▲ 15.0pp19.2%within the sector's middle half▼ 13.6pp16.4%above the sector's middle half▼ 2.7pp-10.1%below the sector's middle half▼ 26.6pp-6.8%below the sector's middle half▲ 3.3pp26.1%above the sector's middle half▲ 32.9pp
Staff (FTE)0.2below the sector's middle half0.50.2▼ 60.0%
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 profit of €40,877, after a loss of €11,747 in 2024. It is the highest result since 2020.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €135,516
Fixed assets
€70,051 ▼ 25.0%
Current assets
€65,466 ▼ 11.8%
Equity and liabilities €135,516
Equity
€97,466 ▲ 5.6%
Debt
€38,051 ▼ 49.5%
Debt's share of the balance-sheet total falls from 44.9% to 28.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€66,343▲
2024 · €13,657
Cash flow
€60,792▲
2024 · €13,938
Quick ratio
1.54▲
2024 · 0.85
Debt to equity
0.39▼
2024 · 0.82
ROE
36.2%▲
2024 · -12.4%
Interest coverage
over 100▲
2024 · 10.60
Debt ≤ 1 year
€38,051▼
2024 · €75,362
Income taxes
€5,345▲
2024 · -€1,568
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|
| Average over the year, in full-time equivalents | 0.5 | 0.2 | - |
| Joined | 8 | 2 | 1 |
| Left | 10 | 2 | 1 |
| Training hours | 394 | - | 21 |
Source: social balance sheet in the 2022 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €32,816 | €20,777 | €82,211 | €6,898 | €4,202 |
| Depreciation and write-downs of the year | €24,360 | €20,179 | €22,924 | €25,404 | €25,466 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €4,015 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €74 | €10,319 | €770 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,119 | €20,918 | €21,350 | €24,360 | €20,179 | €22,924 | €25,404 | €25,466 | ▲ 0.2% |
| Other operating charges640/8 | - | - | - | €7,370 | €5,448 | €3,932 | €2,638 | €1,272 | ▼ 51.8% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €960 | - | - |
| Gross operating margin9900 | €37,648 | €46,479 | €79,514 | €72,370 | €71,891 | €12,348 | €17,255 | €67,615 | ▲ 292% |
| Operating profit (loss)9901 | €9,679 | €18,340 | €53,803 | €40,566 | €35,946 | -€15,277 | -€11,747 | €40,877 | - |
| Financial income75/76B | - | - | - | €43 | €215 | €36 | €1 | €10 | ▲ 650% |
| Recurring financial income75 | €11 | €0 | - | €43 | €215 | €36 | €1 | €10 | ▲ 650% |
| Financial charges65/66B | - | - | - | €1,025 | €1,547 | €3,414 | €1,288 | €216 | ▼ 83.2% |
| Recurring financial charges65 | €2,738 | €1,841 | €1,135 | €1,025 | €1,547 | €3,414 | €1,288 | €216 | ▼ 83.2% |
| Profit (loss) for the period before taxes9903 | €6,952 | €16,500 | €52,668 | €39,584 | €34,614 | -€18,656 | -€13,034 | €40,671 | - |
| Income taxes67/77 | €7,000 | -€3,954 | €10,257 | €9,863 | €5,607 | - | -€1,568 | €5,345 | - |
| Profit (loss) for the period9904 | -€48 | €20,454 | €42,411 | €29,721 | €29,007 | -€18,656 | -€11,465 | €35,326 | - |
| Profit (loss) for the period to be appropriated9905 | -€48 | €20,454 | €42,411 | €29,721 | €29,007 | -€18,656 | -€11,465 | €35,326 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €141,082 | €115,679 | €129,594 | €155,056 | €176,443 | €184,448 | €167,670 | €135,516 | ▼ 19.2% |
| Fixed assets21/28 | €89,763 | €76,345 | €61,446 | €64,695 | €57,416 | €111,947 | €93,441 | €70,051 | ▼ 25.0% |
| Tangible fixed assets22/27 | €89,713 | €76,295 | €61,396 | €64,645 | €57,366 | €111,897 | €93,391 | €70,001 | ▼ 25.0% |
| Plant, machinery and equipment23 | - | - | - | €11,006 | €20,444 | €30,427 | €30,827 | €26,598 | ▼ 13.7% |
| Furniture and vehicles24 | - | - | - | €43,000 | €29,938 | €76,177 | €58,791 | €41,147 | ▼ 30.0% |
| Other tangible fixed assets26 | - | - | - | €10,639 | €6,984 | €5,292 | €3,774 | €2,255 | ▼ 40.2% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €51,318 | €39,333 | €68,149 | €90,361 | €119,027 | €72,501 | €74,229 | €65,466 | ▼ 11.8% |
| Stocks and contracts in progress3 | €2,459 | €2,873 | €2,500 | €2,600 | €2,800 | - | €9,995 | €6,923 | ▼ 30.7% |
| Stocks30/36 | - | - | - | €2,600 | €2,800 | - | €9,995 | €6,923 | ▼ 30.7% |
| Amounts receivable within one year40/41 | €19,675 | €8,927 | €4,747 | €11,795 | €21,582 | €18,796 | €40,337 | €9,842 | ▼ 75.6% |
| Trade receivables40 | - | - | - | €7,084 | €9,077 | - | €30,902 | - | - |
| Other amounts receivable41 | - | - | - | €4,711 | €12,505 | €18,796 | €9,435 | €9,842 | ▲ 4.3% |
| Cash at bank and in hand54/58 | €29,185 | €26,159 | €60,902 | €75,827 | €94,143 | €51,625 | €23,079 | €47,779 | ▲ 107% |
| Deferred charges and accrued income490/1 | - | - | - | €139 | €501 | €2,080 | €818 | €922 | ▲ 12.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €141,082 | €115,679 | €129,594 | €155,056 | €176,443 | €184,448 | €167,670 | €135,516 | ▼ 19.2% |
| Equity10/15 | €25,837 | €46,291 | €88,701 | €118,422 | €147,429 | €128,773 | €92,308 | €97,466 | ▲ 5.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €14,636 | €14,636 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €29,860 | €29,860 | €29,860 | €29,860 | €29,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Other1319 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €28,000 | €28,000 | €28,000 | €28,000 | €28,000 | = |
| Profit (loss) carried forward14 | €5,377 | €25,831 | €68,241 | €69,962 | €98,969 | €80,313 | €47,812 | €52,970 | ▲ 10.8% |
| Amounts payable17/49 | €115,245 | €69,388 | €40,893 | €36,634 | €29,014 | €55,674 | €75,362 | €38,051 | ▼ 49.5% |
| Amounts payable after more than one year17 | €45,981 | €25,164 | €14,017 | €2,988 | - | €36,356 | - | - | - |
| Financial debts170/4 | - | - | - | €2,988 | - | €36,356 | - | - | - |
| Amounts payable within one year42/48 | €69,249 | €44,224 | €26,876 | €32,572 | €29,014 | €19,318 | €75,362 | €38,051 | ▼ 49.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,030 | €2,971 | €15,443 | - | - | - |
| Trade debts44 | €14,570 | - | €9,228 | €7,725 | €17,856 | €2,247 | €45,196 | €1,804 | ▼ 96.0% |
| Suppliers440/4 | - | - | - | €7,725 | €17,856 | €2,247 | €45,196 | €1,804 | ▼ 96.0% |
| Taxes, remuneration and social security45 | - | - | - | €7,416 | - | - | €2,700 | - | - |
| Taxes450/3 | - | - | - | €7,416 | - | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | - | - | - | €2,700 | - | - |
| Other amounts payable47/48 | - | - | - | €6,401 | €8,188 | €1,628 | €27,466 | €36,247 | ▲ 32.0% |
| Accrued charges and deferred income492/3 | - | - | - | €1,074 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€48 | €20,454 | €42,411 | €29,721 | €29,007 | -€18,656 | -€11,465 | €35,326 | - |
| + Depreciation and write-downs630 | €20,119 | €20,918 | €21,350 | €24,360 | €20,179 | €22,924 | €25,404 | €25,466 | ▲ 0.2% |
| Operating cash flow (approximation) | €20,072 | €41,372 | €63,761 | €54,081 | €49,186 | €4,269 | €13,938 | €60,792 | ▲ 336% |
| Investment in fixed assets (approximation) | - | -€7,500 | -€6,451 | -€27,609 | -€12,900 | -€77,455 | -€6,898 | -€2,076 | ▲ 69.9% |
| Change in cash | - | -€3,026 | €34,742 | €14,925 | €18,316 | -€42,518 | -€28,546 | €24,700 | - |
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, 34,693 companies had the same profile as COLLU has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of COLLU itself: 0.4% 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 34,693 companies, not a prediction for COLLU. 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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-07-2026 | 2026-00244278 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00461671 | |
| 31-12-2023 | micro format | 23-08-2024 | 2024-00371028 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00404132 | |
| 31-12-2021 | micro format | 09-08-2022 | 2022-20283708 | |
| 31-12-2020 | full format | 09-08-2021 | 2021-47000553 | |
| 31-12-2019 | micro format | 03-09-2020 | 2020-50500266 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-55000185 | |
| 31-12-2017 | full format | 20-08-2018 | 2018-48300415 | |
| 31-12-2016 | full format | 24-08-2017 | 2017-46900311 |