DEBOCA
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 35 days after the deadline Filed on 4 June 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00137407.
Annual accounts 2025 filed on 04-06-2026 PDF all 13 filings
Turnover
≈ €500,000
Estimated: probably between €420,000 and €600,000
Total assets
€299,034▼ 1.2%
2024 · €302,769
Net result
€38,088
2024 · -€29,575
Working capital
-€28,154▲ 64.0%
2024 · -€78,298
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€47,241
2025
20192025
Net result
€38,088
2025
highest quarter of the sector
20192025
Equity
€77,787
▲ 95.9%
2025
middle half of the sector
20192025
Total assets
€299,034
▼ 1.2%
2025
highest quarter of the sector
20192025
Debt
€221,247
▼ 15.9%
2025
20192025
Working capital
-€28,154
▲ 64.0%
2025
middle half of the sector
20192025
Solvency
26.0%
▲ 12.9pp
2025
middle half of the sector
20192025
Current ratio
0.84
▲ 0.31
2025
middle half of the sector
20192025
Return on assets (ROA)
12.7%
▲ 22.5pp
2025
middle half of the sector
20192025
Staff (FTE)
1
=
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€20,035-€819▼ 95.9%€4,697▲ 473%-€8,806€26,286-€25,932€47,241
Net result€21,765-€7,580within the sector's middle half▼ 65.2%€4,650within the sector's middle half▼ 38.7%-€9,965below the sector's middle half€15,756within the sector's middle half-€29,575below the sector's middle half€38,088above the sector's middle half
Equity€38,854-€46,434within the sector's middle half▲ 19.5%€51,084within the sector's middle half▲ 10.0%€53,519within the sector's middle half▲ 4.8%€69,275within the sector's middle half▲ 29.4%€39,699within the sector's middle half▼ 42.7%€77,787within the sector's middle half▲ 95.9%
Total assets€95,963-€106,132within the sector's middle half▲ 10.6%€82,367within the sector's middle half▼ 22.4%€446,237above the sector's middle half▲ 442%€404,409above the sector's middle half▼ 9.4%€302,769above the sector's middle half▼ 25.1%€299,034above the sector's middle half▼ 1.2%
Debt€57,108-€59,698▲ 4.5%€31,283▼ 47.6%€392,719▲ 13×€335,134▼ 14.7%€263,070▼ 21.5%€221,247▼ 15.9%
Working capital€14,068-€24,172within the sector's middle half▲ 71.8%€25,353within the sector's middle half▲ 4.9%-€72,403below the sector's middle half-€46,673below the sector's middle half▲ 35.5%-€78,298below the sector's middle half▼ 67.8%-€28,154within the sector's middle half▲ 64.0%
Solvency40.5%-43.8%within the sector's middle half▲ 3.3pp62.0%above the sector's middle half▲ 18.3pp12.0%within the sector's middle half▼ 50.0pp17.1%within the sector's middle half▲ 5.1pp13.1%within the sector's middle half▼ 4.0pp26.0%within the sector's middle half▲ 12.9pp
Current ratio1.25-1.41within the sector's middle half▲ 0.161.81within the sector's middle half▲ 0.400.62within the sector's middle half▼ 1.190.75within the sector's middle half▲ 0.130.53within the sector's middle half▼ 0.220.84within the sector's middle half▲ 0.31
Return on assets (ROA)22.7%-7.1%within the sector's middle half▼ 15.5pp5.6%within the sector's middle half▼ 1.5pp-2.2%within the sector's middle half▼ 7.9pp3.9%within the sector's middle half▲ 6.1pp-9.8%below the sector's middle half▼ 13.7pp12.7%within the sector's middle half▲ 22.5pp
Staff (FTE)0.31▲ 233%1=1=
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 €47,241, after a loss of €25,932 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The micro 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 €299,034
Fixed assets
€147,834 ▼ 31.1%
Current assets
€151,200 ▲ 71.5%
Equity and liabilities €299,034
Equity
€77,787 ▲ 95.9%
Debt
€221,247 ▼ 15.9%
Debt's share of the balance-sheet total falls from 86.9% to 74.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€120,150▲
2024 · €44,063
Cash flow
€110,997▲
2024 · €40,420
Quick ratio
0.81▲
2024 · 0.49
Debt to equity
2.84▼
2024 · 6.63
ROE
49.0%▲
2024 · -74.5%
Interest coverage
28.07▲
2024 · 7.45
Debt ≤ 1 year
€179,354▲
2024 · €166,441
Debt > 1 year
€41,893▼
2024 · €96,629
Income taxes
€4,944
Staff costs
€48,176▲
2024 · €43,622
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 0.3 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | 1 | - | - | - |
| Left | 0 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €12,859 | €327,702 | €7,350 | €18,167 | €6,100 |
| Financial fixed assets | - | €2,993 | - | €25 | €18 |
| Depreciation and write-downs of the year | €9,032 | €28,590 | €69,306 | €69,995 | €72,910 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €132 awarded · €132 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €99 | €99 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €16,636 | €46,307 | €43,622 | €48,176 | ▲ 10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,600 | €8,175 | €9,032 | €28,590 | €69,306 | €69,995 | €72,910 | ▲ 4.2% |
| Other operating charges640/8 | - | - | €1,100 | €2,374 | €3,236 | €1,781 | €2,634 | ▲ 47.9% |
| Gross operating margin9900 | €28,686 | €9,957 | €14,830 | €38,794 | €145,134 | €89,466 | €170,960 | ▲ 91.1% |
| Operating profit (loss)9901 | €20,035 | €819 | €4,697 | -€8,806 | €26,286 | -€25,932 | €47,241 | - |
| Financial income75/76B | - | - | €46 | €3,432 | €0 | €4,116 | €72 | ▼ 98.3% |
| Recurring financial income75 | €0 | €7,097 | €46 | €3,432 | €0 | €4,116 | €72 | ▼ 98.3% |
| Financial charges65/66B | - | - | €94 | €4,592 | €8,429 | €7,759 | €4,281 | ▼ 44.8% |
| Recurring financial charges65 | €236 | €96 | €94 | €4,592 | €8,429 | €5,911 | €4,281 | ▼ 27.6% |
| Non-recurring financial charges66B | - | - | - | - | - | €1,848 | - | - |
| Profit (loss) for the period before taxes9903 | €19,799 | €7,820 | €4,650 | -€9,965 | €17,857 | -€29,575 | €43,031 | - |
| Income taxes67/77 | -€1,966 | €240 | - | - | €2,101 | - | €4,944 | - |
| Profit (loss) for the period9904 | €21,765 | €7,580 | €4,650 | -€9,965 | €15,756 | -€29,575 | €38,088 | - |
| Profit (loss) for the period to be appropriated9905 | €21,765 | €7,580 | €4,650 | -€9,965 | €15,756 | -€29,575 | €38,088 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €95,963 | €106,132 | €82,367 | €446,237 | €404,409 | €302,769 | €299,034 | ▼ 1.2% |
| Fixed assets21/28 | €24,786 | €22,354 | €25,731 | €328,285 | €266,429 | €214,626 | €147,834 | ▼ 31.1% |
| Tangible fixed assets22/27 | €24,336 | €21,904 | €25,731 | €324,843 | €262,986 | €211,158 | €144,348 | ▼ 31.6% |
| Plant, machinery and equipment23 | - | - | €25,632 | €285,012 | €231,773 | €176,714 | €120,921 | ▼ 31.6% |
| Furniture and vehicles24 | - | - | €99 | €39,831 | €31,213 | €34,445 | €23,427 | ▼ 32.0% |
| Financial fixed assets28 | €450 | €450 | - | €3,443 | €3,443 | €3,468 | €3,486 | ▲ 0.5% |
| Current assets29/58 | €71,177 | €83,779 | €56,636 | €117,952 | €137,980 | €88,144 | €151,200 | ▲ 71.5% |
| Amounts receivable after more than one year29 | - | - | - | €73,396 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €73,396 | - | - | - | - |
| Stocks and contracts in progress3 | €6,466 | €4,712 | €4,801 | €5,716 | €7,833 | €6,642 | €6,103 | ▼ 8.1% |
| Stocks30/36 | - | - | €4,801 | €5,716 | €7,833 | €6,642 | €6,103 | ▼ 8.1% |
| Amounts receivable within one year40/41 | €4,736 | €4,225 | €14,000 | €6,729 | €41,242 | €20,121 | €59,019 | ▲ 193% |
| Trade receivables40 | - | - | €6,025 | €5,814 | €39,363 | €18,336 | €57,235 | ▲ 212% |
| Other amounts receivable41 | - | - | €7,975 | €915 | €1,879 | €1,784 | €1,784 | = |
| Cash at bank and in hand54/58 | €53,650 | €72,994 | €35,977 | €26,310 | €84,510 | €53,958 | €80,210 | ▲ 48.7% |
| Deferred charges and accrued income490/1 | - | - | €1,858 | €5,801 | €4,395 | €7,424 | €5,867 | ▼ 21.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €95,963 | €106,132 | €82,367 | €446,237 | €404,409 | €302,769 | €299,034 | ▼ 1.2% |
| Equity10/15 | €38,854 | €46,434 | €51,084 | €53,519 | €69,275 | €39,699 | €77,787 | ▲ 95.9% |
| Contributions10/11 | €6,200 | - | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €16,860 | €16,860 | €31,860 | ▲ 89.0% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €16,860 | €16,860 | €31,860 | ▲ 89.0% |
| Profit (loss) carried forward14 | €30,794 | €38,374 | €43,024 | €33,059 | €33,815 | €4,239 | €27,327 | ▲ 545% |
| Amounts payable17/49 | €57,108 | €59,698 | €31,283 | €392,719 | €335,134 | €263,070 | €221,247 | ▼ 15.9% |
| Amounts payable after more than one year17 | - | - | - | €202,364 | €150,109 | €96,629 | €41,893 | ▼ 56.6% |
| Financial debts170/4 | - | - | - | €202,364 | €150,109 | €96,629 | €41,893 | ▼ 56.6% |
| Amounts payable within one year42/48 | €57,108 | €59,607 | €31,283 | €190,355 | €184,653 | €166,441 | €179,354 | ▲ 7.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €51,056 | €52,254 | €53,481 | €54,736 | ▲ 2.3% |
| Trade debts44 | €3,711 | €10,514 | €3,897 | €16,628 | €33,269 | €16,132 | €13,233 | ▼ 18.0% |
| Suppliers440/4 | - | - | €3,897 | €16,628 | €33,269 | €16,132 | €13,233 | ▼ 18.0% |
| Taxes, remuneration and social security45 | - | - | €566 | €7,930 | €8,394 | €5,931 | €18,869 | ▲ 218% |
| Taxes450/3 | - | - | €566 | €1,985 | €1,746 | €844 | €10,264 | ▲ 12× |
| Remuneration and social security454/9 | - | - | - | €5,946 | €6,647 | €5,087 | €8,605 | ▲ 69.1% |
| Other amounts payable47/48 | - | - | €26,820 | €114,740 | €90,736 | €90,897 | €92,516 | ▲ 1.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €372 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,765 | €7,580 | €4,650 | -€9,965 | €15,756 | -€29,575 | €38,088 | - |
| + Depreciation and write-downs630 | €7,600 | €8,175 | €9,032 | €28,590 | €69,306 | €69,995 | €72,910 | ▲ 4.2% |
| Operating cash flow (approximation) | €29,366 | €15,754 | €13,682 | €18,624 | €85,062 | €40,420 | €110,997 | ▲ 175% |
| Investment in fixed assets (approximation) | - | -€5,742 | -€12,409 | -€331,144 | -€7,449 | -€18,192 | -€6,118 | ▲ 66.4% |
| Change in cash | - | €19,344 | -€37,017 | -€9,667 | €58,199 | -€30,552 | €26,253 | - |
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, 5,053 companies had the same profile as DEBOCA has now. Two years later, 95.9% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEBOCA itself: 0.8% 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 5,053 companies, not a prediction for DEBOCA. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 04-06-2026 | 2026-00137407 | |
| 30-09-2024 | micro format | 03-04-2025 | 2025-00063264 | |
| 30-09-2023 | micro format | 30-04-2024 | 2024-00081583 | |
| 30-09-2022 | micro format | 31-03-2023 | 2023-00054731 | |
| 30-09-2021 | micro format | 22-04-2022 | 2022-20006299 | |
| 30-09-2020 | micro format | 18-03-2021 | 2021-07800356 | |
| 30-09-2019 | micro format | 21-04-2020 | 2020-09800283 | |
| 30-09-2018 | micro format | 18-03-2019 | 2019-07600350 | |
| 30-09-2017 | micro format | 30-03-2018 | 2018-08800524 | |
| 30-09-2016 | abbreviated format | 29-03-2017 | 2017-08200319 |