HORECA FOOT
The computed 12-month bankruptcy probability of HORECA FOOT is 1.7% (moderate). The 2025 annual accounts show negative equity (€-2.69M) and a net result of €-200k. Equity is shrinking by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 9% of 63 sector peers (fiscal year 2025). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-2.69M |
| Net result | €-200k |
| Staff (FTE) | 12 |
| Better than sector | 9% |
Fragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
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The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -24.4% | 24.3% | |
| Net result | €-200k | €15k | |
| Equity | €-2.69M | €100k | |
| Staff costs | €798k | €383k | |
| Employees (FTE) | 12.0 | 11.3 |
| Fiscal year | 2025 |
|---|---|
| Deposit | volledig |
| Revenue | €7.30M |
| EBITDA | €300k |
| Net profit | €-200k |
| Cash flow | €179k |
| Staff costs | €798k |
| Income taxes | €3k |
| Dividends | - |
| Total assets | €11.03M |
| Equity | €-2.69M |
| Debt | €13.71M |
| of which ≤ 1y | €3.83M |
| of which > 1y | €8.84M |
| Working capital | €-1.96M |
| Employees (FTE) | 12.0 |
| 2025 | |
|---|---|
| Current ratio | 0.49 |
| Quick ratio | 0.45 |
| Working capital ratio | -17.8% |
| Solvency | -24.4% |
| Debt / equity | -5.10 |
| Long-term debt ratio | -3.29 |
| Interest coverage | 3.38 |
| Gross margin | 48.7% |
| Net margin | -2.7% |
| ROA | -1.8% |
| ROE | 7.4% |
| EBITDA margin | 4.1% |
| Days sales outstanding | 73d |
| Days payable outstanding | 189d |
| Inventory turnover | 29.25 |
| Days inventory (DSI) | 12d |
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €11.03M |
| Fixed assets | 21/28 | €9.16M |
| Tangible fixed assets | 22/27 | €7.70M |
| Financial fixed assets | 28 | €1.46M |
| Current assets | 29/58 | €1.87M |
| Stocks & contracts in progress | 3 | €128k |
| Amounts receivable within one year | 40/41 | €1.46M |
| Cash & bank | 54/58 | €238k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €11.03M |
| Equity | 10/15 | €-2.69M |
| Contributions / capital | 10/11 | €557k |
| Reserves | 13 | €56k |
| Accumulated profits (losses) | 14 | €-3.30M |
| Amounts payable | 17/49 | €13.71M |
| Amounts payable after one year | 17 | €8.84M |
| Amounts payable within one year | 42/48 | €3.83M |
| Trade debts payable within one year | 44 | €1.93M |
| Income statement | ||
| Turnover | 70 | €7.30M |
| Operating result | 9901 | €-78k |
| Financial charges | 65 | €118k |
| Result before taxes | 9903 | €-197k |
| Income taxes | 67/77 | €3k |
| Net result for the period | 9904 | €-200k |
| Result to be appropriated | 9905 | €-200k |
-
Samuel Paula BaroNiet statutaire bestuurderState Gazette act 24411950 (03-07-2024)Current03-07-2024 → present
-
De Witte Ivan Maurice GermainStatutaire bestuurderState Gazette act 21300327 (04-01-2021)Current04-01-2021 → present
-
Louwagie Michel Marc CamielStatutaire bestuurderState Gazette act 21300327 (04-01-2021)Current04-01-2021 → present
Historic, not recently confirmed (1)
-
Ernst & Young - Bedrijfsrevisoren BCVBAAuditorState Gazette act 14208715 (18-11-2014)Not recently confirmedlast confirmed in an act from 2014
Permanent representatives (2)
-
Francis BoelensVaste vertegenwoordiger commissarisState Gazette act 18154326 (19-10-2018)Permanent representative19-10-2018 → present
-
Marnix Van DoorenVaste vertegenwoordiger commissarisState Gazette act 18154326 (19-10-2018)Permanent representative- → 19-10-2018
Former directors (2)
-
Ivan De WitteChairState Gazette act 21135435 (18-11-2021)Former18-11-2021 → 03-07-2024
2 events
- 03-07-2024 Resigned· Statutaire bestuurder
- 18-11-2021 Appointed· Chair
-
Michel LouwagieStatutaire bestuurderState Gazette act 24411950 (03-07-2024)Former- → 03-07-2024
| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| EYCurrent Commissaris revisor |
- | 23-09-2021 → present |
| Francis BOELENSCurrent Commissaris bedrijfsrevisor |
- | 18-11-2021 → present |
| Ernst & Young Bedrijfsrevisoren BCVBA Statutory auditor succeeded by EY in 2021 |
- | 19-10-2018 → 23-09-2021 |
| NACE primary | Activiteiten van eetgelegenheden met volledige bediening(56111) |
| Legal form | Private limited company(610) |
| Incorporation | 23-04-2008 |
| Status | Active |
| Postal code | 9000 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0602/00T003 | Flanders | 3.2 ha | 1 · 2.0 ha | 40.8 m · 4 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
03-07-2024 1 director appointed, 2 resigning
- Samuel Paula Baro, Niet statutaire bestuurder
- Ivan De Witte, Statutaire bestuurder
- Michel Louwagie, Statutaire bestuurder
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}29-01-2024 Publication in the Belgian Official Gazette, Miscellaneous
Technical details
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"summary_narrative": "De algemene vergadering van HORECA FOOT op 30 november 2023 heeft unaniem besloten de commissaris-revisor EY Bedrijfsrevisoren, vertegenwoordigd door Francis Boelens, te herbenoemen voor een periode van drie boekjaren, tot en met de jaarvergadering over het boekjaar eindigend op 30 juni 2026.",
"co_filed_documents": [],
"detected_real_type": "other",
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"should_reroute_to_category": "director_changes"
}18-11-2021 2 directors appointed
- Francis BOELENS, Commissaris bedrijfsrevisor
- Ivan De Witte, Voorzitter
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}23-09-2021 EY appointed as commissaris revisor
- EY, Commissaris revisor
Technical details
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}12-08-2021 Publication in the Belgian Official Gazette, Miscellaneous
Technical details
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"notary": {
"name": "Christophe BLINDEMAN",
"firm_city": null,
"firm_name": "BLINDEMAN, notarisvennootschap",
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"pub_date": "2021-08-12",
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"act_kind_objet": "9000 Gent"
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"body": "bestuursorgaan",
"act_date": "2021-06-29",
"unanimous": null
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},
{
"kbo": "0407.885.394",
"name": "KONINKLIJKE ATHLETIEK ASSOCIATIE GENT - VOETBALAFDELING",
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"address": "Ottergemsesteenweg-Zuid 808, 9000 Gent",
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"patrimony_description": "De inbreng bestaat uit een geldbedrag van \u20AC497.000,00, dat wordt overgedragen als vergoeding voor de inbreng. Het patrimony van HORECA FOOT wordt niet volledig of gedeeltelijk overgedragen; het gaat hier om een inbreng in geld in het kader van een statutaire wijziging.",
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"summary_narrative": "Op 23 december 2020 besloot het bestuursorgaan van de besloten vennootschap HORECA FOOT, met zetel te 9000 Gent, een bijkomende inbreng in geld van \u20AC497.000 te goedkeuren. Hierop werd een uitgifte van 70 nieuwe aandelen gedaan aan de co\u00F6peratieve vennootschap KONINKLIJKE ATHLETIEK ASSOCIATIE GENT - VOETBALAFDELING, ook gevestigd te 9000 Gent. De statuten werden gewijzigd om de nieuwe aandelenverdeling te reflecteren.",
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"expeditie de akte",
"geco\u00F6rdineerde statuten"
],
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"should_reroute_to_category": null
}04-01-2021 2 directors appointed
- De Witte Ivan Maurice Germain, Statutaire bestuurder
- Louwagie Michel Marc Camiel, Statutaire bestuurder
Technical details
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}19-10-2018 2 directors appointed, 1 resigning
- Ernst & Young Bedrijfsrevisoren BCVBA, Commissaris
- Francis Boelens, Vaste vertegenwoordiger commissaris
- Marnix Van Dooren, Vaste vertegenwoordiger commissaris
Technical details
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}19-06-2018 Articles of association amended
Technical details
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}14-07-2016 Articles of association amended
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}07-04-2015 Publication in the Belgian Official Gazette, Minor change
Technical details
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}18-11-2014 Ernst & Young - Bedrijfsrevisoren BCVBA appointed as auditor
- Ernst & Young - Bedrijfsrevisoren BCVBA, Auditor
Technical details
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}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameNL | HORECA FOOT |