CROCOLEZ
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 4 November 2026.
Annual accounts 2024 filed on 31-10-2025 PDF all 15 filings
Turnover
€189,761▲ 13.2%
2021 · €167,631
EBIT margin
1.1%▼ 8.7pp
2021 · 9.8%
Net result
€346
2023 · -€26,448
Working capital
-€92,230▲ 4.0%
2023 · -€96,080
Multi-year overview
2018 to 2024, 6 financial yearsTurnover
€189,761
2024
20182024
Operating result
€2,047
2024
20182024
Net result
€346
2024
middle half of the sector
20182024
EBIT margin
1.1%
2024
20182024
Equity
-€82,274
▲ 0.4%
2024
lowest quarter of the sector
20182024
Total assets
€39,159
▲ 36.7%
2024
lowest quarter of the sector
20182024
Debt
€121,432
▲ 9.1%
2024
20182024
Working capital
-€92,230
▲ 4.0%
2024
lowest quarter of the sector
20182024
Solvency
-210.1%
▲ 78.4pp
2024
lowest quarter of the sector
20182024
Current ratio
0.24
▲ 0.10
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
0.9%
▲ 93.2pp
2024
middle half of the sector
20182024
Staff (FTE)
no figure
2024
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820202021202220232024
Turnover€166,124-€89,805-€167,631▲ 86.7%€189,761
Operating result-€15,324--€10,057-€16,414€2,423▼ 85.2%-€23,584€2,047
Net result-€16,455--€11,358below the sector's middle half-€3,470within the sector's middle half-€681within the sector's middle half-€26,448below the sector's middle half▼ 3,782%€346within the sector's middle half
EBIT margin-9.2%--11.2%-9.8%▲ 21.0pp1.1%
Equity-€19,657--€58,960below the sector's middle half--€55,490below the sector's middle half▲ 5.9%-€56,172below the sector's middle half▼ 1.2%-€82,620below the sector's middle half▼ 47.1%-€82,274below the sector's middle half▲ 0.4%
Total assets€38,586-€14,130below the sector's middle half-€37,488below the sector's middle half▲ 165%€24,074below the sector's middle half▼ 35.8%€28,640below the sector's middle half▲ 19.0%€39,159below the sector's middle half▲ 36.7%
Debt€58,244-€73,090-€92,978▲ 27.2%€80,246▼ 13.7%€111,260▲ 38.6%€121,432▲ 9.1%
Working capital-€28,883--€65,197below the sector's middle half--€65,162below the sector's middle half▲ 0.1%-€73,334below the sector's middle half▼ 12.5%-€96,080below the sector's middle half▼ 31.0%-€92,230below the sector's middle half▲ 4.0%
Solvency-50.9%--417.3%below the sector's middle half--148.0%below the sector's middle half▲ 269.3pp-233.3%below the sector's middle half▼ 85.3pp-288.5%below the sector's middle half▼ 55.1pp-210.1%below the sector's middle half▲ 78.4pp
Current ratio0.50-0.10below the sector's middle half-0.29below the sector's middle half▲ 0.190.09below the sector's middle half▼ 0.200.14below the sector's middle half▲ 0.050.24below the sector's middle half▲ 0.10
Return on assets (ROA)-42.6%--80.4%below the sector's middle half-9.3%within the sector's middle half▲ 89.6pp-2.8%within the sector's middle half▼ 12.1pp-92.3%below the sector's middle half▼ 89.5pp0.9%within the sector's middle half▲ 93.2pp
Staff (FTE)33=
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 profit of €2,047, after a loss of €23,584 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €39,159
Fixed assets
€9,957 ▼ 26.0%
Current assets
€29,202 ▲ 92.4%
Equity and liabilities
Equity-€82,274
Debt€121,432
Equity is negative. Debt (€121,432) exceeds the balance-sheet total (€39,159).
Key figures and ratios
EBITDA
€5,551▲
2023 · -€19,882
Cash flow
€3,849▲
2023 · -€22,746
Quick ratio
0.21▲
2023 · 0.10
Interest coverage
3.26▲
2023 · -6.93
Debt ≤ 1 year
€121,432▲
2023 · €111,260
Customer credit
5 days
Supplier credit
129 days
Staff costs
€43,939▼
2023 · €46,651
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 | 31-12-2022 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| part-time | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 |
| Average over the year, in full-time equivalents | 1.7 | 1.7 |
| On a permanent contract | 1 | 1 |
| Joined | 80 | 80 |
| Left | 82 | 82 |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €5,121 | €9,917 | €0 | - |
| Depreciation and write-downs of the year | €1,419 | €3,702 | €3,702 | €3,503 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €166,124 | €89,805 | €167,631 | - | - | €189,761 | - |
| Non-recurring operating income76A | - | - | €13,000 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €144,608 | - | - | €150,575 | - |
| Remuneration, social security and pensions62 | - | - | €17,334 | €47,165 | €46,651 | €43,939 | ▼ 5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €859 | €1,387 | €1,419 | €3,702 | €3,702 | €3,503 | ▼ 5.4% |
| Other operating charges640/8 | - | - | €1,156 | €1,002 | €3,227 | €965 | ▼ 70.1% |
| Gross operating margin9900 | €5,798 | €8,665 | €36,322 | €54,292 | €29,997 | €50,454 | ▲ 68.2% |
| Operating profit (loss)9901 | -€15,324 | -€10,057 | €16,414 | €2,423 | -€23,584 | €2,047 | - |
| Financial income75/76B | - | - | €31 | - | €5 | - | - |
| Recurring financial income75 | €1 | - | €31 | - | €5 | - | - |
| Financial charges65/66B | - | - | €12,975 | €3,104 | €2,869 | €1,701 | ▼ 40.7% |
| Recurring financial charges65 | €1,133 | €1,301 | €12,975 | €3,104 | €2,869 | €1,701 | ▼ 40.7% |
| Profit (loss) for the period before taxes9903 | -€16,456 | -€11,358 | €3,470 | -€681 | -€26,448 | €346 | - |
| Income taxes67/77 | -€1 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€16,455 | -€11,358 | €3,470 | -€681 | -€26,448 | €346 | - |
| Profit (loss) for the period to be appropriated9905 | -€16,455 | -€11,358 | €3,470 | -€681 | -€26,448 | €346 | - |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €38,586 | €14,130 | €37,488 | €24,074 | €28,640 | €39,159 | ▲ 36.7% |
| Fixed assets21/28 | €9,226 | €7,246 | €10,947 | €17,162 | €13,460 | €9,957 | ▼ 26.0% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €3,345 | €1,364 | €5,066 | €11,281 | €7,579 | €4,075 | ▼ 46.2% |
| Plant, machinery and equipment23 | - | - | €0 | €0 | €0 | €0 | ▲ 100% |
| Furniture and vehicles24 | - | - | €2,046 | €9,043 | €6,124 | €3,205 | ▼ 47.7% |
| Leasing and similar rights25 | - | - | €0 | €0 | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | €3,020 | €2,237 | €1,455 | €870 | ▼ 40.2% |
| Financial fixed assets28 | €5,881 | €5,881 | €5,881 | €5,881 | €5,881 | €5,881 | = |
| Current assets29/58 | €29,361 | €6,884 | €26,540 | €6,912 | €15,180 | €29,202 | ▲ 92.4% |
| Stocks and contracts in progress3 | €6,184 | €5,459 | €4,348 | €4,243 | €4,318 | €3,792 | ▼ 12.2% |
| Stocks30/36 | - | - | €4,348 | €4,243 | €4,318 | €3,792 | ▼ 12.2% |
| Amounts receivable within one year40/41 | €22,664 | €0 | €0 | €1,027 | €2,606 | €4,047 | ▲ 55.3% |
| Trade receivables40 | - | - | €0 | €1,027 | €2,606 | €2,367 | ▼ 9.2% |
| Other amounts receivable41 | - | - | €0 | €0 | €0 | €1,680 | - |
| Cash at bank and in hand54/58 | €0 | €1,328 | €21,365 | €1,641 | €8,257 | €21,362 | ▲ 159% |
| Deferred charges and accrued income490/1 | - | - | €828 | €0 | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €38,586 | €14,130 | €37,488 | €24,074 | €28,640 | €39,159 | ▲ 36.7% |
| Equity10/15 | -€19,657 | -€58,960 | -€55,490 | -€56,172 | -€82,620 | -€82,274 | ▲ 0.4% |
| Contributions10/11 | €30,000 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €110 | €110 | €110 | €110 | €110 | €110 | = |
| Non-distributable reserves130/1 | - | - | €110 | €110 | €110 | €110 | = |
| Reserves not available under the articles1311 | - | - | €110 | €110 | €110 | €110 | = |
| Profit (loss) carried forward14 | -€49,767 | -€89,070 | -€85,601 | -€86,282 | -€112,730 | -€112,384 | ▲ 0.3% |
| Amounts payable17/49 | €58,244 | €73,090 | €92,978 | €80,246 | €111,260 | €121,432 | ▲ 9.1% |
| Amounts payable within one year42/48 | €58,244 | €72,081 | €91,702 | €80,246 | €111,260 | €121,432 | ▲ 9.1% |
| Current portion of amounts payable after more than one year42 | - | - | €0 | €0 | - | - | - |
| Financial debts43 | - | - | €4,703 | €0 | - | - | - |
| Credit institutions430/8 | - | - | €4,703 | €0 | - | - | - |
| Trade debts44 | €27,998 | €18,146 | €25,991 | €32,298 | €42,815 | €53,036 | ▲ 23.9% |
| Suppliers440/4 | - | - | €25,991 | €32,298 | €42,815 | €53,036 | ▲ 23.9% |
| Taxes, remuneration and social security45 | - | - | €18,168 | €18,142 | €20,474 | €13,398 | ▼ 34.6% |
| Taxes450/3 | - | - | €17,992 | €14,969 | €14,761 | €13,398 | ▼ 9.2% |
| Remuneration and social security454/9 | - | - | €176 | €3,173 | €5,714 | - | - |
| Other amounts payable47/48 | - | - | €42,841 | €29,805 | €47,970 | €54,999 | ▲ 14.7% |
| Accrued charges and deferred income492/3 | - | - | €1,276 | €0 | - | - | - |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,455 | -€11,358 | €3,470 | -€681 | -€26,448 | €346 | - |
| + Depreciation and write-downs630 | €859 | €1,387 | €1,419 | €3,702 | €3,702 | €3,503 | ▼ 5.4% |
| Operating cash flow (approximation) | -€15,596 | -€9,971 | €4,888 | €3,021 | -€22,746 | €3,849 | - |
| Investment in fixed assets (approximation) | - | - | -€5,121 | -€9,917 | €0 | -€0 | - |
| Change in cash | - | - | €20,037 | -€19,723 | €6,615 | €13,106 | ▲ 98.1% |
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, 1,379 companies had the same profile as CROCOLEZ has now. Two years later, 94.3% were still going and 2.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
94.3%
was still going
3.2%
stopped otherwise
2.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CROCOLEZ itself: 2.4% 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 1,379 companies, not a prediction for CROCOLEZ. 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 |
|---|---|---|---|---|
| 31-12-2024 | micro format | 31-10-2025 | 2025-00559700 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00413051 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00413924 | |
| 31-12-2021 | micro format | 13-07-2023 | 2023-00231418 | |
| 31-12-2020 | micro format | 10-11-2021 | 2021-77100007 | |
| 31-12-2018 | micro format | 06-07-2020 | 2020-26900281 | |
| 31-12-2017 | micro format | 27-02-2019 | 2019-06000173 | |
| 31-12-2016 | micro format | 01-12-2017 | 2017-71000470 | |
| 31-12-2015 | full format | 30-11-2016 | 2016-69200198 | |
| 31-12-2014 | full format | 30-09-2015 | 2015-62800078 |