KEY-WEST
ActiveSummary
KEY-WEST has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €69,549 and a net result of €40,680. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 13617 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100▲+19
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 8.02 against 2.83 in 2024; short-term debt: 8.1% and cash: 49.9% of total assets), and 8.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
91.9%
Return on assets
53.7%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €69,549
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
5 d early
2023
105 d early
2022
83 d early
2021
102 d early
2020
53 d early
2019
107 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 65 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, micro schema
Equity
€69,549▲ 141%
2024 · €28,869
Total assets
€75,720▲ 47.6%
2024 · €51,317
Net result
€40,680▲ 75.9%
2024 · €23,123
Working capital
€43,325▲ 44.3%
2024 · €30,035
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,450€27,925▲ 333%€25,677▼ 8.1%€38,525▲ 50.0%€50,771▲ 31.8%
Net result€20,384within the sector's middle half€27,750above the sector's middle half▲ 36.1%€25,116above the sector's middle half▼ 9.5%€23,123within the sector's middle half▼ 7.9%€40,680above the sector's middle half▲ 75.9%
Equity€28,753within the sector's middle half▼ 33.9%€28,753within the sector's middle half=€28,869within the sector's middle half▲ 0.4%€28,869within the sector's middle half=€69,549within the sector's middle half▲ 141%
Total assets€38,819below the sector's middle half▼ 52.7%€40,582below the sector's middle half▲ 4.5%€46,537within the sector's middle half▲ 14.7%€51,317within the sector's middle half▲ 10.3%€75,720within the sector's middle half▲ 47.6%
Debt€10,066▼ 73.9%€11,829▲ 17.5%€17,668▲ 49.4%€22,449▲ 27.1%€6,171▼ 72.5%
Working capital€18,836within the sector's middle half▼ 49.8%€35,053within the sector's middle half▲ 86.1%€35,969within the sector's middle half▲ 2.6%€30,035within the sector's middle half▼ 16.5%€43,325above the sector's middle half▲ 44.3%
Solvency74.1%above the sector's middle half▲ 21.1pp70.9%above the sector's middle half▼ 3.2pp62.0%above the sector's middle half▼ 8.8pp56.3%within the sector's middle half▼ 5.8pp91.9%above the sector's middle half▲ 35.6pp
Current ratio3.08above the sector's middle half▼ 1.657.34above the sector's middle half▲ 4.264.40above the sector's middle half▼ 2.942.83above the sector's middle half▼ 1.588.02above the sector's middle half▲ 5.19
Return on assets (ROA)52.5%above the sector's middle half▲ 54.6pp68.4%above the sector's middle half▲ 15.9pp54.0%above the sector's middle half▼ 14.4pp45.1%above the sector's middle half▼ 8.9pp53.7%above the sector's middle half▲ 8.7pp
Staff (FTE)0.6=2▲ 233%2=
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 32% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75,720
Fixed assets
€26,223 ▲ 442%
Current assets
€49,497 ▲ 6.5%
Equity and liabilities €75,720
Equity
€69,549 ▲ 141%
Debt
€6,171 ▼ 72.5%
Debt's share of the balance-sheet total falls from 43.7% to 8.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€52,584
Cash flow
€42,492
Quick ratio
7.61▲
2024 · 2.69
Debt to equity
0.09▼
2024 · 0.78
ROE
58.5%▼
2024 · 80.1%
Interest coverage
35.18
Debt ≤ 1 year
€6,171▼
2024 · €16,449
Income taxes
€8,597▼
2024 · €15,274
Staff costs
€6,867▼
2024 · €31,550
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,370 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €69,191 | €80,687 | €31,550 | €6,867 | ▼ 78.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,706 | - | - | - | €1,812 | - |
| Other operating charges640/8 | - | €155 | €2,672 | €1,882 | €4,477 | ▲ 138% |
| Gross operating margin9900 | €22,491 | €97,271 | €109,036 | €71,957 | €63,927 | ▼ 11.2% |
| Operating profit (loss)9901 | €6,450 | €27,925 | €25,677 | €38,525 | €50,771 | ▲ 31.8% |
| Financial income75/76B | - | - | - | - | €1 | - |
| Recurring financial income75 | €14,670 | - | - | - | €1 | - |
| Financial charges65/66B | - | €74 | €55 | €128 | €1,495 | ▲ 1,071% |
| Recurring financial charges65 | €145 | €74 | €55 | €128 | €1,495 | ▲ 1,071% |
| Profit (loss) for the period before taxes9903 | €20,975 | €27,851 | €25,622 | €38,397 | €49,277 | ▲ 28.3% |
| Income taxes67/77 | €591 | €101 | €506 | €15,274 | €8,597 | ▼ 43.7% |
| Profit (loss) for the period9904 | €20,384 | €27,750 | €25,116 | €23,123 | €40,680 | ▲ 75.9% |
| Profit (loss) for the period to be appropriated9905 | €20,384 | €27,750 | €25,116 | €23,123 | €40,680 | ▲ 75.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €38,819 | €40,582 | €46,537 | €51,317 | €75,720 | ▲ 47.6% |
| Fixed assets21/28 | €10,917 | - | - | €4,834 | €26,223 | ▲ 442% |
| Tangible fixed assets22/27 | €10,917 | - | - | - | €21,390 | - |
| Plant, machinery and equipment23 | - | - | - | - | €9,293 | - |
| Furniture and vehicles24 | - | - | - | - | €1,332 | - |
| Other tangible fixed assets26 | - | - | - | - | €10,765 | - |
| Financial fixed assets28 | - | - | - | €4,834 | €4,834 | = |
| Current assets29/58 | €27,902 | €40,582 | €46,537 | €46,483 | €49,497 | ▲ 6.5% |
| Stocks and contracts in progress3 | €2,080 | €2,127 | €2,972 | €2,302 | €2,558 | ▲ 11.1% |
| Stocks30/36 | - | €2,127 | €2,972 | €2,302 | €2,558 | ▲ 11.1% |
| Amounts receivable within one year40/41 | €2,042 | €2,053 | €32,193 | €30,313 | €3,229 | ▼ 89.3% |
| Trade receivables40 | - | €1,882 | - | - | - | - |
| Other amounts receivable41 | - | €171 | €32,193 | €30,313 | €3,229 | ▼ 89.3% |
| Current investments50/53 | €2,476 | €2,476 | €2,476 | €2,476 | €2,476 | = |
| Cash at bank and in hand54/58 | €19,120 | €33,113 | €7,632 | €10,121 | €37,811 | ▲ 274% |
| Deferred charges and accrued income490/1 | - | €813 | €1,264 | €1,271 | €3,422 | ▲ 169% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €38,819 | €40,582 | €46,537 | €51,317 | €75,720 | ▲ 47.6% |
| Equity10/15 | €28,753 | €28,753 | €28,869 | €28,869 | €69,549 | ▲ 141% |
| Contributions10/11 | €26,139 | €26,139 | €26,139 | €26,139 | €26,139 | = |
| Reserves13 | €2,614 | €2,614 | €2,614 | €2,614 | €43,410 | ▲ 1,561% |
| Non-distributable reserves130/1 | - | €2,614 | €2,614 | - | - | - |
| Reserves not available under the articles1311 | - | €2,614 | €2,614 | - | - | - |
| Distributable reserves133 | - | - | - | €2,614 | €43,410 | ▲ 1,561% |
| Profit (loss) carried forward14 | -€11,633 | - | €116 | €116 | - | - |
| Amounts payable17/49 | €10,066 | €11,829 | €17,668 | €22,449 | €6,171 | ▼ 72.5% |
| Amounts payable within one year42/48 | €9,066 | €5,529 | €10,568 | €16,449 | €6,171 | ▼ 62.5% |
| Trade debts44 | €1,467 | €2,464 | €708 | €367 | €3,132 | ▲ 754% |
| Suppliers440/4 | - | €2,464 | €708 | €367 | €3,132 | ▲ 754% |
| Taxes, remuneration and social security45 | - | €2,315 | €9,860 | €6,896 | €3,039 | ▼ 55.9% |
| Taxes450/3 | - | €1,146 | €8,471 | €6,896 | €3,039 | ▼ 55.9% |
| Remuneration and social security454/9 | - | €1,169 | €1,389 | - | - | - |
| Other amounts payable47/48 | - | €750 | - | €9,186 | - | - |
| Accrued charges and deferred income492/3 | - | €6,300 | €7,100 | €6,000 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,384 | €27,750 | €25,116 | €23,123 | €40,680 | ▲ 75.9% |
| + Depreciation and write-downs630 | €7,706 | - | - | - | €1,812 | - |
| Operating cash flow (approximation) | €28,090 | €27,750 | €25,116 | €23,123 | €42,492 | ▲ 83.8% |
| Investment in fixed assets (approximation) | - | - | - | - | -€23,202 | - |
| Change in cash | - | €13,993 | -€25,481 | €2,489 | €27,690 | ▲ 1,012% |
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
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €40,680 ▲75.9%
Operating result €50,771, net result €40,680, both a record.
31-12
Financial
Liquidity triplescurrent ratio 8.02
Current ratio from 2.83 to 8.02; short-term debt falls from €16,449 to €6,171.
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Liquidity doublescurrent ratio 7.34
Current ratio from 3.08 to 7.34; short-term debt falls from €9,066 to €5,529.
18-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €20,384
Net result €20,384 after 2 loss-making years.
08-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€6,249
Net result drops to -€6,249, the lowest in the series; recovery starts the following year.
Show earlier events
30-09
Financial
Liquidity triplescurrent ratio 3.77
Current ratio from 1.19 to 3.77; short-term debt falls from €18,215 to €14,776.
23-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
01-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1 day late
2017
23-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial 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.
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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, Oostende · 1 establishment unit since 2003
Ground area
127 m²
Building footprint
127 m²
Volume, LiDAR
1,533 m³
Parcel 35386D0258/00M000, Flanders · tallest building 17.0 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
KEY-WEST
since 20032.122.398.206
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35386D0258/00M000 | Flanders | 127 m² | 1 · 127 m² | 17.0 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteOostende2.122.398.206
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Of 14,002 companies in sector 56301 we hold annual accounts for 4,896. 3,930 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-06-1996
Fiscal year end31-12
Activities, NACEBEL 2025
56301Cafés and bars
96230Day spas, saunas and steam baths
56302Nightclubs
E-invoicing
Reachable via Peppol
Peppol ID
0208:0458346873
Also
9925:BE0458346873
Registered
04-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.