Gloreca

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Private limited company (pre-2019)founded 2017Eglantierlaan 66, 2020 Antwerp, BelgiumKBO/BCE: BE 0673.602.840

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GlorecaOpen bankruptcy

Report

Financials · financial year 2024, micro format

Annual accounts 2024 filed on 11-07-2025 PDF all 8 filings

Turnover

≈ €1.2m

Estimated: probably between €1.1m and €1.5m

Total assets

€138,099▼ 82.0%

2023 · €769,048

Net result

€10,396

2023 · -€180,474

Working capital

-€264,420▲ 46.8%

2023 · -€496,833

Multi-year overview

2018 to 2024, 7 financial years

Operating result

€44,637

2024

20182024

Net result

€10,396

2024

middle half of the sector

20182024

Equity

-€227,126

▲ 4.4% 2024

lowest quarter of the sector

20182024

Total assets

€138,099

▼ 82.0% 2024

middle half of the sector

20182024

Debt

€365,225

▼ 63.7% 2024

20182024

Working capital

-€264,420

▲ 46.8% 2024

lowest quarter of the sector

20182024

Solvency

-164.5%

▼ 133.6pp 2024

lowest quarter of the sector

20182024

Current ratio

0.27

▲ 0.19 2024

lowest quarter of the sector

20182024

Return on assets (ROA)

7.5%

▲ 31.0pp 2024

middle half of the sector

20182024

Staff (FTE)

19.1

▼ 31.3% 2024

20182024

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line2018201920202021202220232024

Operating result€0.01m-€0.02m▲ 128%€0.04m▲ 62.5%€0.01m▼ 70.9%-€0.04m-€0.1m▼ 236%€0.04m

Net result€0.003m-€0.002m▼ 29.1%€0.007m▲ 246%-€0.02m-€0.07m▼ 376%-€0.2m▼ 150%€0.01m

Equity€0.009m-€0.02m▲ 166%€0.03m▲ 30.5%€0.02m▼ 50.2%-€0.06m-€0.2m▼ 316%-€0.2m▲ 4.4%

Total assets€0.2m-€0.6m▲ 297%€0.8m▲ 15.9%€0.9m▲ 19.7%€0.9m▼ 5.1%€0.8m▼ 10.0%€0.1m▼ 82.0%

Debt€0.2m-€0.6m▲ 305%€0.7m▲ 15.4%€0.9m▲ 22.6%€0.9m▲ 2.9%€1.0m▲ 10.4%€0.4m▼ 63.7%

Working capital-€0.06m--€0.07m▼ 14.4%-€0.07m▼ 12.5%-€0.3m▼ 256%-€0.3m▼ 26.7%-€0.5m▼ 48.8%-€0.3m▲ 46.8%

Solvency5.3%-3.6%▼ 1.7pp4.0%▲ 0.4pp1.7%▼ 2.3pp-6.7%▼ 8.3pp-30.9%▼ 24.2pp-164.5%▼ 133.6pp

Current ratio0.43-0.54▲ 0.110.51▼ 0.040.16▼ 0.350.16=0.08▼ 0.080.27▲ 0.19

Return on assets (ROA)1.8%-0.3%▼ 1.4pp0.9%▲ 0.6pp-1.7%▼ 2.6pp-8.4%▼ 6.8pp-23.5%▼ 15.0pp7.5%▲ 31.0pp

Staff (FTE)15.8-16.3▲ 3.2%9.9▼ 39.3%20.8▲ 110%26.9▲ 29.3%27.8▲ 3.3%19.1▼ 31.3%

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 €44,637, after a loss of €147,846 in 2023. It is the highest result since 2018.

Large changes and their cause

2023 Net result -150% on 2022. The accounts now follow the abbreviated format, last year the micro format.

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €138,099

28.9%

71.1%

Fixed assets €39,952 ▼ 94.5%

Current assets €98,147 ▲ 120%

Equity and liabilities

Equity-€227,126

Debt€365,225

Equity is negative. Debt (€365,225) exceeds the balance-sheet total (€138,099).

Key figures and ratios

2024 value · change against 2023

EBITDA

€65,201▲

2023 · -€72,648

Cash flow

€30,960▲

2023 · -€105,275

Quick ratio

0.27▲

2023 · 0.07

Interest coverage

1.92▲

2023 · -2.24

Debt ≤ 1 year

€362,568▼

2023 · €541,533

Debt > 1 year

€2,657▼

2023 · €458,362

Income taxes

€686▲

2023 · €605

Staff costs

€426,866▼

2023 · €466,777

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

social balance sheet

Item	31-12-2021	31-12-2022	31-12-2023	31-12-2024
Employees at the balance-sheet date	28	18	9	9
full-time	27	17	9	7
part-time	1	1	0	2
in full-time equivalents	27.8	17.8	9	7.2
Average over the year, in full-time equivalents	20.8	26.9	27.8	9
On a permanent contract	21	6	6	6
Joined	57	42	42	28
Left	33	52	42	28

Source: social balance sheet in the 2021 to 2024 annual accounts

Overdue debts

tax and social security

Item	2021	2022	2023	2024
Overdue tax debts	-	-	€40,797	-
Overdue social security (RSZ) debts	-	-	€45,816	-

Source: notes to the 2021 to 2024 annual accounts (statement of debts)

Securities and guarantees

on own assets and for others

Item	2021	2022	2023	2024
Debts secured on the company's own assets	-	-	€400,000	-
Mortgages, amount registered	€457,012	€457,012	€400,000	-
Carrying value of the mortgaged assets	€759,059	€713,758	€664,889	-

Source: notes to the 2021 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired

Item	2021	2022	2023	2024
Tangible fixed assets	€357,623	€25,701	€9,335	€9,433
Intangible fixed assets	-	€640	-	-
Financial fixed assets	€920	-	-	-
Depreciation and write-downs of the year	€48,556	€86,134	€75,198	€20,563

Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2024 against 2023 · 60 lines

Balance sheet Code20232024

Assets

Total assets20/58€0.8m€0.1m▼

Fixed assets21/28€0.7m€0.04m▼

Intangible fixed assets21€0.001m€0.001m▼

Tangible fixed assets22/27€0.7m€0.04m▼

Land and buildings22€0.7m€0▼

Plant, machinery and equipment23€0.03m€0.02m▼

Furniture and vehicles24€0.02m€0.01m▼

Leasing and similar rights25€0.002m€270▼

Other tangible fixed assets26€0.004m€0.003m▼

Financial fixed assets28€400€400=

Current assets29/58€0.04m€0.1m▲

Stocks and contracts in progress3€0.005m€0.001m▼

Stocks30/36€0.005m€0.001m▼

Amounts receivable within one year40/41€0.02m€0.06m▲

Trade receivables40€0.01m€0.003m▼

Other amounts receivable41€0.008m€0.06m▲

Cash at bank and in hand54/58€0.02m€0.02m▲

Deferred charges and accrued income490/1€0.004m€0.01m▲

Equity and liabilities

Total equity and liabilities10/49€0.8m€0.1m▼

Equity10/15-€0.2m-€0.2m▲

Contributions10/11€0.02m€0.02m=

Reserves13€0.01m€0.01m=

Non-distributable reserves130/1€0-

Reserves not available under the articles1311€0-

Distributable reserves133€0.01m€0.01m=

Profit (loss) carried forward14-€0.3m-€0.3m▲

Amounts payable17/49€1.0m€0.4m▼

Amounts payable after more than one year17€0.5m€0.003m▼

Financial debts170/4€0.4m€0▼

Other amounts payable178/9€0.06m€0.003m▼

Amounts payable within one year42/48€0.5m€0.4m▼

Current portion of amounts payable after more than one year42€0.04m€0.03m▼

Financial debts43€18€20▲

Credit institutions430/8€18-

Other loans439-€20

Trade debts44€0.2m€0.09m▼

Suppliers440/4€0.2m€0.09m▼

Taxes, remuneration and social security45€0.2m€0.1m▼

Taxes450/3€0.06m€0.02m▼

Remuneration and social security454/9€0.09m€0.1m▲

Other amounts payable47/48€0.2m€0.09m▼

Accrued charges and deferred income492/3€0.007m€0▼

Income statement Code20232024

Non-recurring operating income76A-€0.2m

Remuneration, social security and pensions62€0.5m€0.4m▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.08m€0.02m▼

Other operating charges640/8€0.01m€0.02m▲

Non-recurring operating charges66A-€0.003m

Gross operating margin9900€0.4m€0.5m▲

Operating profit (loss)9901-€0.1m€0.04m▲

Financial income75/76B€344€324▼

Recurring financial income75€344€324▼

Financial charges65/66B€0.03m€0.03m▲

Recurring financial charges65€0.03m€0.03m▲

Profit (loss) for the period before taxes9903-€0.2m€0.01m▲

Income taxes67/77€0.001m€0.001m▲

Profit (loss) for the period9904-€0.2m€0.01m▲

Profit (loss) for the period to be appropriated9905-€0.2m€0.01m▲

Appropriation of the result

Profit (loss) to be appropriated9906-€0.3m-€0.3m▲

Profit (loss) brought forward from the previous period14P-€0.09m-€0.3m▼

Social balance sheet

Average headcount (FTE)908727.8-

The notes to these accounts have 13 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2024 (PDF), filed on 11-07-2025.

Line	2018	2019	2020	2021	2022	2023	2024	Change
Non-recurring operating income76A	-	-	-	-	-	-	€157,207	-
Remuneration, social security and pensions62	-	-	-	€248,621	€358,875	€466,777	€426,866	▼ 8.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€23,541	€32,417	€41,973	€48,556	€86,134	€75,198	€20,563	▼ 72.7%
Other operating charges640/8	-	-	-	€4,966	€9,486	€11,672	€21,706	▲ 86.0%
Non-recurring operating charges66A	-	-	-	€0	-	-	€3,472	-
Gross operating margin9900	€291,890	€322,203	€250,349	€312,929	€410,437	€405,801	€517,246	▲ 27.5%
Operating profit (loss)9901	€10,016	€22,814	€37,072	€10,786	-€44,058	-€147,846	€44,637	-
Financial income75/76B	-	-	-	€52	€94	€344	€324	▼ 6.0%
Recurring financial income75	€190	€9	€108	€52	€94	€344	€324	▼ 6.0%
Financial charges65/66B	-	-	-	€25,863	€27,972	€32,367	€33,879	▲ 4.7%
Recurring financial charges65	€6,593	€18,006	€29,277	€25,863	€27,972	€32,367	€33,879	▲ 4.7%
Profit (loss) for the period before taxes9903	€3,613	€4,817	€7,903	-€15,025	-€71,936	-€179,868	€11,082	-
Income taxes67/77	€742	€2,780	€861	€104	€138	€605	€686	▲ 13.3%
Profit (loss) for the period9904	€2,872	€2,037	€7,042	-€15,129	-€72,074	-€180,474	€10,396	-
Profit (loss) for the period to be appropriated9905	€2,872	€2,037	€7,042	-€15,129	-€72,074	-€180,474	€10,396	-

Line	2018	2019	2020	2021	2022	2023	2024	Change
Assets
Total assets20/58	€0.2m	€0.6m	€0.8m	€0.9m	€0.9m	€0.8m	€0.1m	▼ 82.0%
Fixed assets21/28	€0.1m	€0.6m	€0.7m	€0.9m	€0.8m	€0.7m	€0.04m	▼ 94.5%
Intangible fixed assets21	€0.001m	€0.001m	€0.002m	€0.001m	€0.001m	€0.001m	€0.001m	▼ 44.7%
Tangible fixed assets22/27	€0.1m	€0.6m	€0.7m	€0.8m	€0.8m	€0.7m	€0.04m	▼ 94.6%
Land and buildings22	-	-	-	€0.8m	€0.7m	€0.7m	€0	▼ 100%
Plant, machinery and equipment23	-	-	-	€0.04m	€0.04m	€0.03m	€0.02m	▼ 24.7%
Furniture and vehicles24	-	-	-	€0.04m	€0.03m	€0.02m	€0.01m	▼ 40.4%
Leasing and similar rights25	-	-	-	€0.01m	€0.004m	€0.002m	€270	▼ 85.9%
Other tangible fixed assets26	-	-	-	€0.007m	€0.006m	€0.004m	€0.003m	▼ 25.0%
Financial fixed assets28	€400	€400	€400	€0.001m	€400	€400	€400	=
Current assets29/58	€0.04m	€0.08m	€0.08m	€0.05m	€0.06m	€0.04m	€0.1m	▲ 120%
Stocks and contracts in progress3	€0.02m	€0.02m	€0.002m	€0.003m	€0.007m	€0.005m	€0.001m	▼ 73.1%
Stocks30/36	-	-	-	€0.003m	€0.007m	€0.005m	€0.001m	▼ 73.1%
Amounts receivable within one year40/41	€0.009m	€0.05m	€0.06m	€0.02m	€0.03m	€0.02m	€0.06m	▲ 226%
Trade receivables40	-	-	-	€0.02m	€0.03m	€0.01m	€0.003m	▼ 73.3%
Other amounts receivable41	-	-	-	€290	€0.001m	€0.008m	€0.06m	▲ 701%
Current investments50/53	€0.01m	-	-	-	-	-	-	-
Cash at bank and in hand54/58	-	€0.01m	€0.003m	€0.03m	€0.02m	€0.02m	€0.02m	▲ 29.0%
Deferred charges and accrued income490/1	-	-	-	€0.004m	€0.004m	€0.004m	€0.01m	▲ 235%
Equity and liabilities
Total equity and liabilities10/49	€0.2m	€0.6m	€0.8m	€0.9m	€0.9m	€0.8m	€0.1m	▼ 82.0%
Equity10/15	€0.009m	€0.02m	€0.03m	€0.02m	-€0.06m	-€0.2m	-€0.2m	▲ 4.4%
Contributions10/11	€0.006m	€0.02m	-	€0.02m	€0.02m	€0.02m	€0.02m	=
Reserves13	€0.002m	€0.005m	€0.01m	€0.01m	€0.01m	€0.01m	€0.01m	=
Non-distributable reserves130/1	-	-	-	€0.002m	€0.002m	€0	-	-
Reserves not available under the articles1311	-	-	-	€0.002m	€0.002m	€0	-	-
Distributable reserves133	-	-	-	€0.01m	€0.01m	€0.01m	€0.01m	=
Profit (loss) carried forward14	-	-	-	-€0.02m	-€0.09m	-€0.3m	-€0.3m	▲ 3.9%
Amounts payable17/49	€0.2m	€0.6m	€0.7m	€0.9m	€0.9m	€1.0m	€0.4m	▼ 63.7%
Amounts payable after more than one year17	€0.05m	€0.5m	€0.6m	€0.6m	€0.5m	€0.5m	€0.003m	▼ 99.4%
Financial debts170/4	-	-	-	€0.5m	€0.4m	€0.4m	€0	▼ 100%
Other amounts payable178/9	-	-	-	€0.08m	€0.07m	€0.06m	€0.003m	▼ 95.3%
Amounts payable within one year42/48	€0.1m	€0.1m	€0.1m	€0.3m	€0.4m	€0.5m	€0.4m	▼ 33.0%
Current portion of amounts payable after more than one year42	-	-	-	€0.06m	€0.05m	€0.04m	€0.03m	▼ 15.3%
Financial debts43	-	-	-	€0	€178	€18	€20	▲ 11.1%
Credit institutions430/8	-	-	-	€0	€178	€18	-	-
Other loans439	-	-	-	-	-	-	€20	-
Trade debts44	€0.02m	€0.06m	€0.06m	€0.1m	€0.1m	€0.2m	€0.09m	▼ 52.1%
Suppliers440/4	-	-	-	€0.1m	€0.1m	€0.2m	€0.09m	▼ 52.1%
Taxes, remuneration and social security45	-	-	-	€0.05m	€0.08m	€0.2m	€0.1m	▼ 5.1%
Taxes450/3	-	-	-	€0.002m	€0.03m	€0.06m	€0.02m	▼ 59.5%
Remuneration and social security454/9	-	-	-	€0.05m	€0.05m	€0.09m	€0.1m	▲ 30.2%
Other amounts payable47/48	-	-	-	€0.09m	€0.1m	€0.2m	€0.09m	▼ 42.4%
Accrued charges and deferred income492/3	-	-	-	-	€0.003m	€0.007m	€0	▼ 100%

Line	2018	2019	2020	2021	2022	2023	2024	Change
Profit (loss) for the period9904	€2,872	€2,037	€7,042	-€15,129	-€72,074	-€180,474	€10,396	-
+ Depreciation and write-downs630	€23,541	€32,417	€41,973	€48,556	€86,134	€75,198	€20,563	▼ 72.7%
Operating cash flow (approximation)	€26,413	€34,454	€49,015	€33,427	€14,061	-€105,275	€30,960	-
Investment in fixed assets (approximation)	-	-€483,688	-€147,976	-€222,237	-€25,421	-€9,335	€663,832	-
Change in cash	-	-	-€7,550	€22,360	-€3,426	-€4,967	€4,848	-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (8)

Financial year	Type	Filed	Reference	Document
31-12-2024	micro format	11-07-2025	2025-00264959	PDF
31-12-2023	abbreviated format	28-08-2024	2024-00397057	PDF
31-12-2022	micro format	31-07-2023	2023-00305579	PDF
31-12-2021	micro format	10-08-2022	2022-20284001	PDF
31-12-2020	micro format	24-06-2021	2021-24200081	PDF
31-12-2019	micro format	28-08-2020	2020-48400169	PDF
31-12-2018	micro format	31-07-2019	2019-43300595	PDF
31-12-2017	micro format	14-08-2018	2018-47000399	PDF