HORECA MULTI DIFFUSION
ActiveSummary
The computed 12-month bankruptcy probability of HORECA MULTI DIFFUSION is 7.6% (elevated). For HORECA MULTI DIFFUSION, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €48,931 and a net result of €47,457. Equity is shrinking by about 27% per year across the filed financial years. Its solvency ranks better than 47% of 4,638 sector peers (NACE 68, financial year 2023). The company has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Renting and operating of own or leased non-residential real estate, excluding land
NACE 68203
1 site
Size
€175,152total assets 2023
- Equity
- €48,931
- Profit
- €47,457
Financial health
- Bankruptcy probabilitywithin 12 months
- 7.6%
2023 figures too old to score
Structure
2024 accounts not filed, 546 days past the deadline2 deeds in the Belgian Official Gazette
Signalsraises risk2 financial years not filed after the legal deadline; last filed accounts filed 372 days late; 3 of the last 3 lateFigures for financial year 2023 (filed 08-05-2025)Size: total assets €175,152Two or more financial years not filed2023 accounts filed 372 days latelowers riskSector: Real estate activities (NACE 68)Show the evidence
Bankruptcy probability
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Bankruptcy probability: Elevated
Filing: At least two filing cycles are missing
Financial strength, FY 2023 · tick = 2022
Strong
Solvency
53+27
equity 27.9% of total assets
Liquidity
59+9
short-term debt 11.6% · cash 7.7%
Profitability
100+81
return on assets 27.1%
Bankruptcy probability, 12 months
7.6%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 7.0%
12-2024: 7.3%▲ +0.3 percentage points vs 11-2024
01-2025: 6.6%▼ -0.7 percentage points vs 12-2024
02-2025: 6.6%● unchanged vs 01-2025
03-2025: 6.6%● unchanged vs 02-2025
04-2025: 6.6%● unchanged vs 03-2025
05-2025: 8.6%▲ +2.0 percentage points vs 04-2025highest value
06-2025: 2.4%▼ -6.2 percentage points vs 05-2025lowest value
07-2025: 3.1%▲ +0.7 percentage points vs 06-2025
08-2025: 2.9%▼ -0.2 percentage points vs 07-2025
09-2025: 3.6%▲ +0.7 percentage points vs 08-2025
10-2025: 5.9%▲ +2.3 percentage points vs 09-2025
11-2025: 5.9%● unchanged vs 10-2025
12-2025: 6.3%▲ +0.4 percentage points vs 11-2025
01-2026: 5.7%▼ -0.6 percentage points vs 12-2025
02-2026: 5.7%● unchanged vs 01-2026
03-2026: 5.7%● unchanged vs 02-2026
04-2026: 5.7%● unchanged vs 03-2026
05-2026: 7.6%▲ +1.9 percentage points vs 04-2026
06-2026: 7.6%● unchanged vs 05-2026
07-2026: 7.6%● unchanged vs 06-2026
08-2026: 7.6%● unchanged vs 07-2026
09-2026: 7.6%● unchanged vs 08-2026
10-2026: 7.6%● unchanged vs 09-2026
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Signals
Six signals.
lowers riskraises risk
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 year end30-04-2025 deadline28-10-2026 today
raises risk · 2023 accounts filed 372 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: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
372 days late
2022
314 days late
2021
532 days late
2020
on the day
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 244 days after the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (1)
- Annual accounts filedfinancial year 2023 · full…
- Annual accounts filedfinancial year 2022 · full…
- Annual accounts filedfinancial year 2021 · full…
Financials · financial year 2023, full format
2024 annual accounts not yet filed, deadline passed on 30 April 2025 Financial year closed on 30 September 2024; filing due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 28 October 2026.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€47,457
2022 · -€11,238
Working capital
€119,126▲ 22.0%
2022 · €97,636
Trend over the years
2019 to 2023, 5 financial years 2019 to 2023, 5 financial years
The operating result returns to profit in 2023: €50,750 after a loss of €6,847 in 2022, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€50,750
2023
Net result€47,457
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€175,152
2023
Equity€48,931
2023
Debt€126,221
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€119,126
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)27.1%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency27.9%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio6.87
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result-€1,156--€4,107▼ 255%€400-€6,847€50,750
Net result-€5,964--€9,338below the sector's middle half▼ 56.6%-€3,978within the sector's middle half▲ 57.4%-€11,238within the sector's middle half▼ 183%€47,457within the sector's middle half
Equity€26,028-€16,690within the sector's middle half▼ 35.9%€12,712below the sector's middle half▼ 23.8%€1,474below the sector's middle half▼ 88.4%€48,931below the sector's middle half▲ 33×
Total assets€208,924-€202,605within the sector's middle half▼ 3.0%€185,575below the sector's middle half▼ 8.4%€166,583below the sector's middle half▼ 10.2%€175,152below the sector's middle half▲ 5.1%
Debt€182,896-€185,915▲ 1.7%€172,863▼ 7.0%€165,109▼ 4.5%€126,221▼ 23.6%
Working capital€108,332-€110,814above the sector's middle half▲ 2.3%€113,677within the sector's middle half▲ 2.6%€97,636within the sector's middle half▼ 14.1%€119,126within the sector's middle half▲ 22.0%
Solvency12.5%-8.2%within the sector's middle half▼ 4.2pp6.9%below the sector's middle half▼ 1.4pp0.9%below the sector's middle half▼ 6.0pp27.9%within the sector's middle half▲ 27.1pp
Current ratio6.46-5.97above the sector's middle half▼ 0.499.32above the sector's middle half▲ 3.355.44above the sector's middle half▼ 3.886.87above the sector's middle half▲ 1.42
Return on assets (ROA)-2.9%--4.6%below the sector's middle half▼ 1.8pp-2.1%below the sector's middle half▲ 2.5pp-6.7%below the sector's middle half▼ 4.6pp27.1%above the sector's middle half▲ 33.8pp
above
within
below
the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €175,152
Fixed assets
€35,723 ▼ 24.0%
Current assets
€139,429 ▲ 16.6%
Equity and liabilities €175,152
Equity
€48,931 ▲ 33×
Debt
€126,221 ▼ 23.6%
Debt's share of the balance-sheet total falls from 99.1% to 72.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€68,196▲
2022 · €4,409
Cash flow
€64,903▲
2022 · €18
Debt to equity
2.58
ROE
97.0%▲
2022 · -762.4%
Interest coverage
20.71▲
2022 · 1.00
Debt ≤ 1 year
€20,303▼
2022 · €21,968
Debt > 1 year
€105,918▼
2022 · €143,141
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 |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €142 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,256 | €11,256 | €11,256 | €11,256 | €17,446 | ▲ 55.0% |
| Other operating charges640/8 | - | - | €865 | €1,265 | €2,799 | ▲ 121% |
| Gross operating margin9900 | €15,238 | €12,699 | €12,521 | €5,674 | €70,995 | ▲ 13× |
| Operating profit (loss)9901 | -€1,156 | -€4,107 | €400 | -€6,847 | €50,750 | - |
| Financial income75/76B | - | - | €0 | - | - | - |
| Recurring financial income75 | €1,811 | €441 | €0 | - | - | - |
| Financial charges65/66B | - | - | €4,378 | €4,391 | €3,293 | ▼ 25.0% |
| Recurring financial charges65 | €7,099 | €5,672 | €4,378 | €4,391 | €3,293 | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | -€6,444 | -€9,338 | -€3,978 | -€11,238 | €47,457 | - |
| Income taxes67/77 | -€480 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€5,964 | -€9,338 | -€3,978 | -€11,238 | €47,457 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,964 | -€9,338 | -€3,978 | -€11,238 | €47,457 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €208,924 | €202,605 | €185,575 | €166,583 | €175,152 | ▲ 5.1% |
| Fixed assets21/28 | €80,747 | €69,491 | €58,235 | €46,979 | €35,723 | ▼ 24.0% |
| Tangible fixed assets22/27 | €80,247 | €68,991 | €57,735 | €46,479 | €35,223 | ▼ 24.2% |
| Land and buildings22 | - | - | €57,735 | €46,479 | €35,223 | ▼ 24.2% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €128,177 | €133,114 | €127,340 | €119,604 | €139,429 | ▲ 16.6% |
| Amounts receivable within one year40/41 | €127,425 | €132,737 | €126,127 | €116,945 | €125,996 | ▲ 7.7% |
| Other amounts receivable41 | - | - | €126,127 | €116,945 | €125,996 | ▲ 7.7% |
| Cash at bank and in hand54/58 | €752 | €377 | €1,213 | €2,659 | €13,433 | ▲ 405% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €208,924 | €202,605 | €185,575 | €166,583 | €175,152 | ▲ 5.1% |
| Equity10/15 | €26,028 | €16,690 | €12,712 | €1,474 | €48,931 | ▲ 33× |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | - | - | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | - | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €19,360 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | - | - | - |
| Profit (loss) carried forward14 | €468 | €8,630 | €4,652 | -€6,586 | €40,871 | - |
| Amounts payable17/49 | €182,896 | €185,915 | €172,863 | €165,109 | €126,221 | ▼ 23.6% |
| Amounts payable after more than one year17 | €160,091 | €163,615 | €159,200 | €143,141 | €105,918 | ▼ 26.0% |
| Financial debts170/4 | - | - | €70,200 | €56,141 | €41,409 | ▼ 26.2% |
| Other amounts payable178/9 | - | - | €89,000 | €87,000 | €64,509 | ▼ 25.9% |
| Amounts payable within one year42/48 | €19,845 | €22,300 | €13,663 | €21,968 | €20,303 | ▼ 7.6% |
| Current portion of amounts payable after more than one year42 | - | - | €13,416 | €14,058 | €14,732 | ▲ 4.8% |
| Trade debts44 | €2,127 | €3,252 | €6 | €670 | €1,420 | ▲ 112% |
| Suppliers440/4 | - | - | €6 | €670 | €1,420 | ▲ 112% |
| Taxes, remuneration and social security45 | - | - | €0 | €985 | €4,151 | ▲ 321% |
| Taxes450/3 | - | - | €0 | €985 | €4,151 | ▲ 321% |
| Other amounts payable47/48 | - | - | €241 | €6,255 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,964 | -€9,338 | -€3,978 | -€11,238 | €47,457 | - |
| + Depreciation and write-downs630 | €11,256 | €11,256 | €11,256 | €11,256 | €17,446 | ▲ 55.0% |
| Operating cash flow (approximation) | €5,292 | €1,918 | €7,278 | €18 | €64,903 | ▲ 3,606× |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€6,190 | - |
| Change in cash | - | -€375 | €836 | €1,446 | €10,774 | ▲ 645% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2023 | full format | 07-05-2025 | 2025-00091684 |
| 30-09-2022 | full format | 09-03-2024 | 2024-00041199 |
| 30-09-2021 | full format | 14-10-2023 | 2023-00485683 |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13000586 |
| 30-09-2019 | micro format | 30-04-2020 | 2020-11300130 |
| 30-09-2018 | micro format | 17-06-2019 | 2019-19500068 |
| 30-09-2017 | micro format | 09-05-2018 | 2018-12500434 |
| 30-09-2016 | full format | 28-08-2017 | 2017-53100078 |
| 30-09-2015 | full format | 23-05-2016 | 2016-13600285 |
| 30-09-2014 | full format | 29-05-2015 | 2015-14000203 |
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Of the 12,064 active companies whose main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203), figures are known for 6,171. 3,186 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
No directors read yet: 0 of 2 Gazette acts processed. See the directors and other office holders in the KBO →
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
2025
07-05
NBB filing
Annual accounts filed
financial year 2023 · full format · 372 days late
2024
09-03
NBB filing
Annual accounts filed
financial year 2022 · full format · 314 days late
2023
14-10
NBB filing
Annual accounts filed
financial year 2021 · full format · 532 days late
30-09
Financial
Back to profitnet €47,457
Net result €47,457 after 4 loss-making years.
2022
30-09
Financial
Weakest financial yearnet -€11,238
Net result drops to -€11,238, the lowest in the series; recovery starts the following year.
2021
30-04
NBB filing
Annual accounts filed
financial year 2020 · micro format
2020
30-04
NBB filing
Annual accounts filed
financial year 2019 · micro format
2019
17-06
NBB filing
Annual accounts filed
financial year 2018 · micro format · 48 days late
2018
09-05
NBB filing
Annual accounts filed
financial year 2017 · micro format · 9 days late
2017
28-08
NBB filing
Annual accounts filed
financial year 2016 · full format · 120 days late
2016
23-05
NBB filing
Annual accounts filed
financial year 2015 · full format · 23 days late
2015
29-05
NBB filing
Annual accounts filed
financial year 2014 · full format · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 20 annual accounts filed, the latest 10 are here; all 20 are under Financials.
0 of 2 deeds read
About the unread acts
We know of 2 Belgian Official Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company (pre-2019)
Founded29-07-2003
Financial year end30-09
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0859830566
Registered
18-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Ciney · 1 establishment unit since 2003
Ground area
925 m²
Building footprint
192 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
MAD MURPHY'S
since 2003unit no. 2.132.789.775
2 parcels
Wallonia
2
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 91001B0191/00F000 | Wallonia | 805 m² | 1 · 94 m² | - |
| 91030A0481/00G000 | Wallonia | 119 m² | 1 · 98 m² | - |
How the parcels are linked
Good to know
Both parcels match the address exactly.