Fobet
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 35 filings
Equity
€3,126▼ 83.9%
2024 · €19,464
Total assets
€26,735▼ 32.7%
2024 · €39,744
Net result
-€16,339▼ 88.3%
2024 · -€8,677
Working capital
-€4,034
2024 · €4,533
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€15,934
▼ 90.3%
2025
20182025
Net result
-€16,339
▼ 88.3%
2025
lowest quarter of the sector
20182025
Equity
€3,126
▼ 83.9%
2025
middle half of the sector
20182025
Total assets
€26,735
▼ 32.7%
2025
lowest quarter of the sector
20182025
Debt
€23,609
▲ 16.4%
2025
20182025
Working capital
-€4,034
2025
middle half of the sector
20182025
Solvency
11.7%
▼ 37.3pp
2025
middle half of the sector
20182025
Current ratio
0.83
▼ 0.41
2025
middle half of the sector
20182025
Return on assets (ROA)
-61.1%
▼ 39.3pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
1.3
▼ 35.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€24,171-€5,654▼ 76.6%€7,626▲ 34.9%€7,722▲ 1.3%€34,858▲ 351%€11,415▼ 67.3%-€8,375-€15,934▼ 90.3%
Net result€18,723-€3,524▼ 81.2%€6,434within the sector's middle half▲ 82.6%€6,541within the sector's middle half▲ 1.7%€30,155above the sector's middle half▲ 361%€7,690within the sector's middle half▼ 74.5%-€8,677below the sector's middle half-€16,339below the sector's middle half▼ 88.3%
Equity€36,907-€40,431▲ 9.5%€46,865within the sector's middle half▲ 15.9%€53,406within the sector's middle half▲ 14.0%€20,451within the sector's middle half▼ 61.7%€28,141within the sector's middle half▲ 37.6%€19,464within the sector's middle half▼ 30.8%€3,126within the sector's middle half▼ 83.9%
Total assets€50,084-€61,280▲ 22.4%€47,697within the sector's middle half▼ 22.2%€64,469within the sector's middle half▲ 35.2%€93,074within the sector's middle half▲ 44.4%€53,638within the sector's middle half▼ 42.4%€39,744below the sector's middle half▼ 25.9%€26,735below the sector's middle half▼ 32.7%
Debt€13,177-€20,850▲ 58.2%€832▼ 96.0%€11,063▲ 13×€72,623▲ 556%€25,496▼ 64.9%€20,280▼ 20.5%€23,609▲ 16.4%
Working capital€27,912-€32,735▲ 17.3%€40,336above the sector's middle half▲ 23.2%€41,994above the sector's middle half▲ 4.1%€9,808within the sector's middle half▼ 76.6%€11,484within the sector's middle half▲ 17.1%€4,533within the sector's middle half▼ 60.5%-€4,034within the sector's middle half
Solvency73.7%-66.0%▼ 7.7pp98.3%above the sector's middle half▲ 32.3pp82.8%above the sector's middle half▼ 15.4pp22.0%within the sector's middle half▼ 60.9pp52.5%within the sector's middle half▲ 30.5pp49.0%within the sector's middle half▼ 3.5pp11.7%within the sector's middle half▼ 37.3pp
Current ratio3.12-2.57▼ 0.5549.45above the sector's middle half▲ 46.884.80above the sector's middle half▼ 44.661.14within the sector's middle half▼ 3.661.45within the sector's middle half▲ 0.321.24within the sector's middle half▼ 0.210.83within the sector's middle half▼ 0.41
Return on assets (ROA)37.4%-5.8%▼ 31.6pp13.5%within the sector's middle half▲ 7.7pp10.1%within the sector's middle half▼ 3.3pp32.4%above the sector's middle half▲ 22.3pp14.3%within the sector's middle half▼ 18.1pp-21.8%below the sector's middle half▼ 36.2pp-61.1%below the sector's middle half▼ 39.3pp
Staff (FTE)1.42▲ 42.9%1.3▼ 35.0%
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 loss of €15,934, larger than the loss of €8,375 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €26,735
Fixed assets
€7,434 ▼ 54.0%
Current assets
€19,302 ▼ 18.2%
Equity and liabilities €26,735
Equity
€3,126 ▼ 83.9%
Debt
€23,609 ▲ 16.4%
Debt's share of the balance-sheet total rises from 51.0% to 88.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€14,011▼
2024 · -€5,968
Cash flow
-€14,416▼
2024 · -€6,270
Quick ratio
0.73▼
2024 · 0.97
Debt to equity
7.55▲
2024 · 1.04
ROE
-522.7%▼
2024 · -44.6%
Interest coverage
-53.16▼
2024 · -37.74
Debt ≤ 1 year
€23,336▲
2024 · €19,066
Income taxes
€141▼
2024 · €144
Staff costs
€10,150▼
2024 · €24,579
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 3 | 0 |
| full-time | 1 | 0 | 0 |
| part-time | 1 | 3 | 0 |
| in full-time equivalents | 1.5 | 0.9 | 0 |
| Average over the year, in full-time equivalents | 1.2 | 1 | 0.5 |
| On a permanent contract | 2 | 0 | 0 |
| Joined | 44 | 34 | 30 |
| Left | 42 | 33 | 33 |
| Training hours | - | 0 | 0 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,082 | - | €7,396 | €1,096 | €3,314 |
| Financial fixed assets | €3,600 | - | - | €800 | €0 |
| Depreciation and write-downs of the year | €798 | €770 | €1,332 | €2,407 | €1,923 |
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 | - | - | - | - | - | - | - | €3,924 | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | €25,634 | €24,579 | €10,150 | ▼ 58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,300 | €1,300 | €1,167 | €798 | €770 | €1,332 | €2,407 | €1,923 | ▼ 20.1% |
| Other operating charges640/8 | - | - | - | €1,031 | €1,223 | €1,884 | €2,802 | €1,702 | ▼ 39.3% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €2,240 | €706 | ▼ 68.5% |
| Gross operating margin9900 | €26,221 | €7,958 | €11,431 | €9,551 | €36,851 | €40,264 | €23,653 | -€1,454 | - |
| Operating profit (loss)9901 | €24,171 | €5,654 | €7,626 | €7,722 | €34,858 | €11,415 | -€8,375 | -€15,934 | ▼ 90.3% |
| Financial income75/76B | - | - | - | - | €3 | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €1 | €1 | - | - | €3 | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €526 | €859 | €558 | €158 | €264 | ▲ 66.7% |
| Recurring financial charges65 | €333 | €608 | €548 | €526 | €859 | €558 | €158 | €264 | ▲ 66.7% |
| Profit (loss) for the period before taxes9903 | €23,839 | €5,046 | €7,078 | €7,196 | €34,001 | €10,857 | -€8,533 | -€16,198 | ▼ 89.8% |
| Income taxes67/77 | €5,116 | €1,522 | €643 | €654 | €3,846 | €3,167 | €144 | €141 | ▼ 2.1% |
| Profit (loss) for the period9904 | €18,723 | €3,524 | €6,434 | €6,541 | €30,155 | €7,690 | -€8,677 | -€16,339 | ▼ 88.3% |
| Profit (loss) for the period to be appropriated9905 | €18,723 | €3,524 | €6,434 | €6,541 | €30,155 | €7,690 | -€8,677 | -€16,339 | ▼ 88.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €50,084 | €61,280 | €47,697 | €64,469 | €93,074 | €53,638 | €39,744 | €26,735 | ▼ 32.7% |
| Formation expenses20 | - | - | - | - | €0 | - | - | - | - |
| Fixed assets21/28 | €8,995 | €7,695 | €6,529 | €11,413 | €10,643 | €16,657 | €16,146 | €7,434 | ▼ 54.0% |
| Intangible fixed assets21 | - | - | - | - | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €4,195 | €2,895 | €1,729 | €3,013 | €2,243 | €8,308 | €6,996 | €7,434 | ▲ 6.2% |
| Plant, machinery and equipment23 | - | - | - | €464 | €415 | €366 | €317 | €268 | ▼ 15.4% |
| Furniture and vehicles24 | - | - | - | €1,498 | €1,338 | €3,271 | €1,612 | €562 | ▼ 65.1% |
| Other tangible fixed assets26 | - | - | - | €1,051 | €490 | €4,671 | €5,068 | €6,604 | ▲ 30.3% |
| Financial fixed assets28 | €4,800 | €4,800 | €4,800 | €8,400 | €8,400 | €8,350 | €9,150 | €0 | ▼ 100% |
| Current assets29/58 | €41,089 | €53,585 | €41,169 | €53,057 | €82,431 | €36,981 | €23,599 | €19,302 | ▼ 18.2% |
| Stocks and contracts in progress3 | €1,603 | €1,348 | - | €2,923 | €2,923 | €2,923 | €5,157 | €2,264 | ▼ 56.1% |
| Stocks30/36 | - | - | - | €2,923 | €2,923 | €2,923 | €5,157 | €2,264 | ▼ 56.1% |
| Amounts receivable within one year40/41 | €7,928 | €14,411 | €11,013 | €1,169 | €6,803 | €10,922 | €3,707 | €13,582 | ▲ 266% |
| Trade receivables40 | - | - | - | €1,057 | €6,803 | €10,922 | €3,705 | €5,049 | ▲ 36.3% |
| Other amounts receivable41 | - | - | - | €112 | €0 | - | €2 | €8,534 | ▲ 5,541× |
| Cash at bank and in hand54/58 | €31,361 | €37,596 | €29,935 | €48,296 | €71,211 | €22,627 | €14,735 | €2,398 | ▼ 83.7% |
| Deferred charges and accrued income490/1 | - | - | - | €669 | €1,494 | €509 | €0 | €1,058 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €50,084 | €61,280 | €47,697 | €64,469 | €93,074 | €53,638 | €39,744 | €26,735 | ▼ 32.7% |
| Equity10/15 | €36,907 | €40,431 | €46,865 | €53,406 | €20,451 | €28,141 | €19,464 | €3,126 | ▼ 83.9% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €5,383 | €11,818 | €18,359 | €1,859 | €9,549 | €872 | €872 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | €0 | - | - |
| Distributable reserves133 | - | - | - | €16,500 | - | €7,690 | €872 | €872 | = |
| Profit (loss) carried forward14 | €16,455 | €16,455 | €16,455 | €16,455 | - | - | - | -€16,339 | - |
| Amounts payable17/49 | €13,177 | €20,850 | €832 | €11,063 | €72,623 | €25,496 | €20,280 | €23,609 | ▲ 16.4% |
| Amounts payable within one year42/48 | €13,177 | €20,850 | €832 | €11,063 | €72,623 | €25,496 | €19,066 | €23,336 | ▲ 22.4% |
| Trade debts44 | €7,471 | €10,141 | €383 | €3,024 | €487 | €5,048 | €13,276 | €9,574 | ▼ 27.9% |
| Suppliers440/4 | - | - | - | €3,024 | €487 | €5,048 | €13,276 | €9,574 | ▼ 27.9% |
| Advances received on contracts in progress46 | - | - | - | - | €30 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €7,855 | €26,106 | €17,090 | €5,354 | €3,164 | ▼ 40.9% |
| Taxes450/3 | - | - | - | €7,855 | €24,756 | €12,966 | €2,379 | €2,664 | ▲ 12.0% |
| Remuneration and social security454/9 | - | - | - | - | €1,351 | €4,125 | €2,975 | €501 | ▼ 83.2% |
| Other amounts payable47/48 | - | - | - | €184 | €45,999 | €3,358 | €436 | €10,598 | ▲ 24× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €1,214 | €274 | ▼ 77.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,723 | €3,524 | €6,434 | €6,541 | €30,155 | €7,690 | -€8,677 | -€16,339 | ▼ 88.3% |
| + Depreciation and write-downs630 | €1,300 | €1,300 | €1,167 | €798 | €770 | €1,332 | €2,407 | €1,923 | ▼ 20.1% |
| Operating cash flow (approximation) | €20,023 | €4,824 | €7,601 | €7,339 | €30,925 | €9,022 | -€6,270 | -€14,416 | ▼ 130% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€5,682 | €0 | -€7,346 | -€1,896 | €6,789 | - |
| Change in cash | - | €6,235 | -€7,661 | €18,361 | €22,915 | -€48,584 | -€7,892 | -€12,338 | ▼ 56.3% |
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, 1,221 companies had the same profile as Fobet has now. Two years later, 88.6% were still going and 3.8% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
88.6%
was still going
7.4%
stopped otherwise
3.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Fobet itself: 2.5% 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 1,221 companies, not a prediction for Fobet. 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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00220421 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00214042 | |
| 31-12-2023 | micro format | 29-10-2024 | 2024-00524661 | |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00298668 | |
| 31-12-2021 | micro format | 10-06-2022 | 2022-20060049 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43300230 | |
| 31-12-2019 | micro format | 01-07-2020 | 2020-24800211 | |
| 31-12-2018 | micro format | 07-06-2019 | 2019-16900070 | |
| 31-12-2017 | micro format | 20-08-2018 | 2018-46800591 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-51300046 |