HORECA FIRST
Open bankruptcyA bankruptcy procedure is open for HORECA FIRST according to publications in the Belgian State Gazette; curator: HUGUES DE SCHAETZEN VAN BRIENEN.
Summary
The file additionally contains 1 judicial reorganisation and 1 administrative flag. The 2023 annual accounts show equity of €19,708 and a net result of -€49,801.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Declared bankrupt
- 15 September 2025
- Supervising judge
- Reginald D’Hoop De Synghem
- Official Gazette
- 19-09-2025 (pdf) ↗search the document for 2025/137576
Deadlines
- Appeal or third-party opposition until
- passed on 4 October 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 15 October 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 22 October 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- passed on 15 September 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Hugues De Schaetzen Van BrienenAvenue Louise 349, 1050 Ixelleshsb@deschaetzen.law
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
Embed in an article
Writing about this bankruptcy? Put the card of HORECA FIRST in your article: name, enterprise number, its status in the KBO and the latest annual accounts, with a link to this dossier.
Preview
The preview appears here.
- Stays current: the status follows the register, the figures are those of the latest filed accounts. No Checked score or verdict.
- Light on your page: one small script and one data request, also answered from a cache; no cookies, no tracking.
- Where scripts do not run (a newsletter, a feed reader) a plain link remains.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 20-08-2024, 20 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
20 d late
2022
70 d late
2021
435 d late
2020
150 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 153 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Equity
€19,708▼ 71.6%
2022 · €69,509
Total assets
€338,392▲ 0.5%
2022 · €336,697
Net result
-€49,801
2022 · €11,212
Working capital
€10,631▼ 82.5%
2022 · €60,858
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result-€6,631-€47,964€28,663▼ 40.2%€16,212▼ 43.4%-€54,545
Net result-€9,068-€46,877€28,089▼ 40.1%€11,212▼ 60.1%-€49,801
Equity€3,332-€30,208▲ 807%€58,297▲ 93.0%€69,509▲ 19.2%€19,708▼ 71.6%
Total assets€277,062-€368,126▲ 32.9%€341,808▼ 7.1%€336,697▼ 1.5%€338,392▲ 0.5%
Debt€273,730-€337,918▲ 23.4%€283,511▼ 16.1%€267,188▼ 5.8%€318,684▲ 19.3%
Working capital€3,332-€30,208▲ 807%€48,572▲ 60.8%€60,858▲ 25.3%€10,631▼ 82.5%
Staff (FTE)1.9-1.1▼ 42.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €54,545 after €16,212 in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €338,392
Fixed assets
€9,077 ▲ 4.9%
Current assets
€329,315 ▲ 0.4%
Equity and liabilities €338,392
Equity
€19,708 ▼ 71.6%
Debt
€318,684 ▲ 19.3%
Debt's share of the balance-sheet total rises from 79.4% to 94.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€53,470▼
2022 · €17,287
Cash flow
-€48,727▼
2022 · €12,286
Current ratio
1.03▼
2022 · 1.23
Debt to equity
16.17▲
2022 · 3.84
ROE
-252.7%▼
2022 · 16.1%
ROA
-14.7%▼
2022 · 3.3%
Interest coverage
17.59▼
2022 · 114.08
Debt ≤ 1 year
€318,684▲
2022 · €267,188
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €9,323 | €25,074 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,018 | €1,074 | €1,074 | = |
| Other operating charges640/8 | - | - | - | €235 | - | - |
| Non-recurring operating charges66A | - | - | - | - | €69,817 | - |
| Gross operating margin9900 | €9,354 | €55,809 | €39,004 | €42,596 | €16,347 | ▼ 61.6% |
| Operating profit (loss)9901 | -€6,631 | €47,964 | €28,663 | €16,212 | -€54,545 | ▼ 436% |
| Financial income75/76B | - | - | - | - | €1,704 | - |
| Recurring financial income75 | €0 | - | - | - | €1,704 | - |
| Financial charges65/66B | - | - | €574 | €152 | -€3,039 | ▼ 2,106% |
| Recurring financial charges65 | €2,438 | €66 | €574 | €152 | -€3,039 | ▼ 2,106% |
| Profit (loss) for the period before taxes9903 | -€9,068 | €47,899 | €28,089 | €16,061 | -€49,801 | ▼ 410% |
| Income taxes67/77 | - | €1,022 | - | €4,849 | - | - |
| Profit (loss) for the period9904 | -€9,068 | €46,877 | €28,089 | €11,212 | -€49,801 | ▼ 544% |
| Profit (loss) for the period to be appropriated9905 | -€9,068 | €46,877 | €28,089 | €11,212 | -€49,801 | ▼ 544% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €277,062 | €368,126 | €341,808 | €336,697 | €338,392 | ▲ 0.5% |
| Fixed assets21/28 | - | - | €9,725 | €8,651 | €9,077 | ▲ 4.9% |
| Tangible fixed assets22/27 | - | - | €9,725 | €8,651 | €7,577 | ▼ 12.4% |
| Furniture and vehicles24 | - | - | €9,725 | €8,651 | €7,577 | ▼ 12.4% |
| Financial fixed assets28 | - | - | - | - | €1,500 | - |
| Current assets29/58 | €277,062 | €368,126 | €332,082 | €328,046 | €329,315 | ▲ 0.4% |
| Amounts receivable within one year40/41 | €260,177 | €364,797 | €330,221 | €328,002 | €329,314 | ▲ 0.4% |
| Trade receivables40 | - | - | €270,379 | €284,521 | €266,829 | ▼ 6.2% |
| Other amounts receivable41 | - | - | €59,842 | €43,482 | €62,485 | ▲ 43.7% |
| Cash at bank and in hand54/58 | €16,884 | €3,329 | €1,861 | €43 | €1 | ▼ 97.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €277,062 | €368,126 | €341,808 | €336,697 | €338,392 | ▲ 0.5% |
| Equity10/15 | €3,332 | €30,208 | €58,297 | €69,509 | €19,708 | ▼ 71.6% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | -€9,068 | €17,808 | €45,897 | €57,109 | €7,308 | ▼ 87.2% |
| Amounts payable17/49 | €273,730 | €337,918 | €283,511 | €267,188 | €318,684 | ▲ 19.3% |
| Amounts payable within one year42/48 | €273,730 | €337,918 | €283,511 | €267,188 | €318,684 | ▲ 19.3% |
| Trade debts44 | €45,925 | €26,294 | €26,439 | €16,466 | - | - |
| Suppliers440/4 | - | - | €26,439 | €16,466 | - | - |
| Advances received on contracts in progress46 | - | - | €242,377 | €242,377 | €242,377 | = |
| Taxes, remuneration and social security45 | - | - | €14,695 | €8,346 | €6,470 | ▼ 22.5% |
| Taxes450/3 | - | - | €6,847 | €4,849 | €6,470 | ▲ 33.4% |
| Remuneration and social security454/9 | - | - | €7,848 | €3,497 | - | - |
| Other amounts payable47/48 | - | - | - | - | €69,838 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,068 | €46,877 | €28,089 | €11,212 | -€49,801 | ▼ 544% |
| + Depreciation and write-downs630 | - | - | €1,018 | €1,074 | €1,074 | = |
| Operating cash flow (approximation) | -€9,068 | €46,877 | €29,107 | €12,286 | -€48,727 | ▼ 497% |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€1,500 | - |
| Change in cash | - | -€13,556 | -€1,468 | -€1,817 | -€43 | ▲ 97.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
19-09
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 15-09-2025
21-03
KBO administration
Address struck
Louizalaan 367 1050 Die Sitzadresse Avenue Louise / Louizalaan
Ixelles · event 08-01-2025
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
29-05
Judicial reorganisation
Opening
Tribunal de l’entreprise francophone de Bruxelles · collective agreement (SME) · event 21-05-2024
2023
31-12
Financial
Weakest financial yearnet -€49,801
Net result drops to -€49,801, the lowest in the series.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
09-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 435 days late
2021
28-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 150 days late
2020
31-12
Financial
Back to profitnet €46,877
Net result €46,877 after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2019
Ground area
266 m²
Building footprint
265 m²
Volume, LiDAR
3,746 m³
Parcel 21807G0211/00W012, Brussels · tallest building 34.0 m, ±5 floors. Linked by address, not a title deed.
493
companies at this address
See who is registered here
1 establishment unit
HORECA FIRST
since 20192.287.186.259
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0211/00W012 | Brussels | 266 m² | 1 · 265 m² | 34.0 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | HUGUES DE SCHAETZEN VAN BRIENEN AVENUE
LOUISE 349, 1050 IXELLES |
15-09-2025 → present |
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded18-03-2019
Fiscal year end31-12
Contact
E-mail
horecafirst@hotmail.com
Phone
00000000000
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.