HORECA MULTI DIFFUSION
ActiveHORECA MULTI DIFFUSION has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2023 annual accounts show equity of €49k and a net result of €47k. Equity is shrinking by ~30.1% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2024. Its solvency ranks better than 47% of 4684 sector peers (fiscal year 2023). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2023
91
/ 100
Excellent▲ +59 vs 2022
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2022
Profitability100▲+100
Solvency66▲+32
Growth78▲+46
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days only on tighter terms
Liquidity ample (current ratio 6.87 against 5.44 in 2022), but 72.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
27.9%
Return on assets
27.1%
Age of the figures
35 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Equity grew over 2021-2023. Profits are largely retained rather than distributed.
NBB · annual accounts 2023Equity per financial year
181920212223
2018 to 2023 · latest year €49k
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
30-09-2024 close30-04-2025 deadline13-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 07-05-2025, 372 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
372 d late
2022
314 d late
2021
532 d late
2020
on the day
2019
on the day
← before the deadline
after the deadline →
Financials · fiscal year 2023, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€47k
2022 · €-11k
2018: €13k
2019: €-6k
2020: €-9k
2021: €-4k
2022: €-11k
2018 → 2023
Working capital
€119k▲ 22.0%
2022 · €98k
2018: €120k
2019: €108k
2020: €111k
2021: €114k
2022: €98k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€26k-€17k▼ 35.9%€13k▼ 23.8%€1k▼ 88.4%€49k▲ 3,220%
Operating result€-1k-€-4k▼ 255%€400€-7k€51k
Net result€-6k-€-9k▼ 56.6%€-4k▲ 57.4%€-11k▼ 183%€47k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2023: €51k after a loss of €7k in 2022, the highest year so far.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €175k
Fixed assets
€36k▼ 24.0%
Current assets
€139k▲ 16.6%
Equity and liabilities €175k
Equity
€49k▲ 3,220%
Debt
€126k▼ 23.6%
The debt ratio falls from 99.1% to 72.1%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€68k▲
2022 · €4k
Cash flow
€65k▲
2022 · €18
Solvency
27.9%▲
2022 · 0.9%
Current ratio
6.87▲
2022 · 5.44
Quick ratio
6.87▲
2022 · 5.44
Debt / equity
2.58
ROE
97.0%▲
2022 · -762.4%
ROA
27.1%▲
2022 · -6.7%
Interest coverage
20.71▲
2022 · 1.00
Debt
€126k▼
2022 · €165k
Debt ≤ 1 year
€20k▼
2022 · €22k
Debt > 1 year
€106k▼
2022 · €143k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€167k€175k▲
Fixed assets21/28€47k€36k▼
Tangible fixed assets22/27€46k€35k▼
Land and buildings22€46k€35k▼
Financial fixed assets28€500€500=
Current assets29/58€120k€139k▲
Amounts receivable within one year40/41€117k€126k▲
Other amounts receivable41€117k€126k▲
Cash at bank and in hand54/58€3k€13k▲
Equity and liabilities
Total equity and liabilities10/49€167k€175k▲
Equity10/15€1k€49k▲
Contributions10/11€6k€6k=
Capital10€6k€6k=
Issued capital100€19k€19k=
Uncalled capital101€12k€12k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€-7k€41k▲
Amounts payable17/49€165k€126k▼
Amounts payable after more than one year17€143k€106k▼
Financial debts170/4€56k€41k▼
Other amounts payable178/9€87k€65k▼
Amounts payable within one year42/48€22k€20k▼
Current portion of amounts payable after more than one year42€14k€15k▲
Trade debts44€670€1k▲
Suppliers440/4€670€1k▲
Taxes, remuneration and social security45€985€4k▲
Taxes450/3€985€4k▲
Other amounts payable47/48€6k-
Income statement
Code20222023
Goods, raw materials, services and sundry goods60/61-€142
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€17k▲
Other operating charges640/8€1k€3k▲
Gross operating margin9900€6k€71k▲
Operating profit (loss)9901€-7k€51k▲
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€-11k€47k▲
Profit (loss) for the period9904€-11k€47k▲
Profit (loss) for the period to be appropriated9905€-11k€47k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€41k▲
Profit (loss) brought forward from the previous period14P€5k€-7k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
07-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 372 days late
2024
09-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 314 days late
2023
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 532 days late
30-09
Financial
Back to profitnet €47k
Net result €47k after 4 loss-making years.
2022
30-09
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
2018
09-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 9 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 120 days late
2016
23-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 23 days late
2015
29-05
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are 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, Ciney · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Purnalîs(Achêne) 45590 CineyGround area
925 m²
Building footprint
192 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
MAD MURPHY'S
since 20032.132.789.775
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91001B0191/00F000 | Wallonia | 805 m² | 1 · 94 m² | - |
| 91030A0481/00G000 | Wallonia | 119 m² | 1 · 98 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
LA MAISON DES CHEMINOTS ET P.T.T.
BE 0401.523.679
Charleroi · Eq €49k
COLVERT & SONS
BE 0760.656.083
Schaarbeek · Eq €49k
KOMITO GREEN
BE 0895.747.785
Merchtem · Eq €49k
DSV Real Estate Ghent
BE 0805.798.794
Gent · Eq €49k
PHD IMMO
BE 1001.392.960
Verviers · Eq €49k
Of 11,974 companies in sector 68203 we hold annual accounts for 5,947. 3,057 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded29-07-2003
Fiscal year end30-09
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.