LE PANORAMA
ActiveLE PANORAMA has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €14k and a net result of €16k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 42% of 1852 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability87▲+42
Solvency38▲+11
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.62 against 0.32 in 2023; short-term debt: 62.2% and cash: 33.5% of total assets), and 87.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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 2024Solvency, return and age of the figures
Solvency
12.9%
Return on assets
14.3%
Age of the figures
20 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €14k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
86 d late
2022
92 d late
2021
92 d late
2020
91 d late
2019
146 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€14k▲ 822%
2023 · €2k
2018: €8k
2019: €16k
2020: €-5k
2021: €18k
2022: €8k
2023: €2k
2018 → 2024
Total assets
€109k▲ 10.0%
2023 · €99k
2018: €92k
2019: €120k
2020: €118k
2021: €121k
2022: €88k
2023: €99k
2018 → 2024
Net result
€16k
2023 · €-2k
2018: €-6k
2019: €-10k
2020: €-18k
2021: €16k
2022: €-7k
2023: €-2k
2018 → 2024
Working capital
€-26k▲ 26.7%
2023 · €-35k
2018: €-39k
2019: €-33k
2020: €-59k
2021: €-24k
2022: €-39k
2023: €-35k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-5k-€18k€8k▼ 58.0%€2k▼ 79.8%€14k▲ 822%
Operating result€-18k-€16k€-8k€-2k▲ 68.9%€17k
Net result€-18k-€16k€-7k€-2k▲ 65.0%€16k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €17k after a loss of €2k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €109k
Fixed assets
€67k▼ 18.2%
Current assets
€42k▲ 147%
Equity and liabilities €109k
Equity
€14k▲ 822%
Debt
€95k▼ 2.7%
The debt ratio falls from 98.5% to 87.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32k▲
2023 · €12k
Cash flow
€31k▲
2023 · €12k
Solvency
12.9%▲
2023 · 1.5%
Current ratio
0.62▲
2023 · 0.32
Quick ratio
0.58▲
2023 · 0.26
Debt / equity
6.73▼
2023 · 63.75
ROE
110.8%▲
2023 · -156.2%
ROA
14.3%▲
2023 · -2.4%
Interest coverage
9.90▲
2023 · 3.52
Debt
€95k▼
2023 · €97k
Debt ≤ 1 year
€68k▲
2023 · €52k
Debt > 1 year
€27k▼
2023 · €41k
Income taxes
€758▲
2023 · €157
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€99k€109k▲
Fixed assets21/28€82k€67k▼
Tangible fixed assets22/27€82k€67k▼
Plant, machinery and equipment23€67k€56k▼
Furniture and vehicles24€15k€11k▼
Current assets29/58€17k€42k▲
Stocks and contracts in progress3€3k€3k▼
Stocks30/36€3k€3k▼
Cash at bank and in hand54/58€9k€36k▲
Deferred charges and accrued income490/1€4k€3k▼
Equity and liabilities
Total equity and liabilities10/49€99k€109k▲
Equity10/15€2k€14k▲
Contributions10/11€6k€6k=
Capital10€6k€6k=
Issued capital100€19k€19k=
Uncalled capital101€12k€12k=
Reserves13€5k€5k=
Non-distributable reserves130/1€5k€5k=
Legal reserve130€710€710=
Other1319€4k€4k=
Profit (loss) carried forward14€-27k€-11k▲
Investment grants15€17k€14k▼
Amounts payable17/49€97k€95k▼
Amounts payable after more than one year17€41k€27k▼
Financial debts170/4€41k€27k▼
Amounts payable within one year42/48€52k€68k▲
Current portion of amounts payable after more than one year42€40k€55k▲
Trade debts44€9k€11k▲
Suppliers440/4€9k€11k▲
Advances received on contracts in progress46€250€600▲
Taxes, remuneration and social security45€3k€2k▼
Taxes450/3€3k€2k▼
Accrued charges and deferred income492/3€4k€104▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€15k▲
Other operating charges640/8€5k€6k▲
Gross operating margin9900€17k€38k▲
Operating profit (loss)9901€-2k€17k▲
Financial income75/76B€4k€3k▼
Recurring financial income75€4k€3k▼
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€-2k€16k▲
Income taxes67/77€157€758▲
Profit (loss) for the period9904€-2k€16k▲
Profit (loss) for the period to be appropriated9905€-2k€16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-27k€-11k▲
Profit (loss) brought forward from the previous period14P€-25k€-27k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 86 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-12
Financial
Back to profitnet €16k
Net result €16k after 3 loss-making years.
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
31-12
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series; recovery starts the following year.
24-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 146 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 92 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
2016
25-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 86 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Houffalize · 1 establishment unit since 1999
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 du Hérou, Nadrin 416660 HouffalizeGround area
2,061 m²
Building footprint
352 m²
Parcel 82022F0459/00L000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue du Hérou, Nadrin 41, 6660 Houffalize
since 19992.092.850.620
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 82022F0459/00L000 | Wallonia | 2,061 m² | 1 · 352 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 siteHouffalize2.092.850.620
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MARIE-SOPHIE
BE 0432.439.460
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LE NEUTRE
BE 0439.692.783
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GEJA
BE 0889.968.763
Bièvre · Eq €14k
Of 2,395 companies in sector 55100 we hold annual accounts for 1,516. 591 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-09-1999
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
56101Full-service restaurants
56111Full-service restaurants
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.