LE REFUGE
ActiveSummary
LE REFUGE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €118,744 and a net result of €44,581. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 89% of 13617 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+5
Solvency100▲+8
Growth57▲+18
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 4.05 against 2.45 in 2024; short-term debt: 22.1% and cash: 55.4% of total assets), and 22.1% of the assets are financed with debt.
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Signals
Six 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
77.9%
Return on assets
29.3%
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 €118,744
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 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
27 d early
2023
on the day
2022
17 d late
2021
26 d late
2020
18 d late
2019
53 d late
← 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 10 days after 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 1 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€430,006▲ 8.9%
2024 · €395,006
EBIT margin
15.5%▲ 5.4pp
2024 · 10.1%
Net result
€44,581▲ 52.7%
2024 · €29,201
Working capital
€102,626▲ 90.6%
2024 · €53,837
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
Turnover€333,832€427,114▲ 27.9%€419,514▼ 1.8%€395,006▼ 5.8%€430,006▲ 8.9%
Operating result€51,949▼ 55.0%-€6,494€18,659€40,074▲ 115%€66,849▲ 66.8%
Net result€41,058above the sector's middle half▼ 48.5%-€12,012below the sector's middle half€13,740within the sector's middle half€29,201above the sector's middle half▲ 113%€44,581above the sector's middle half▲ 52.7%
EBIT margin15.6%-1.5%▼ 17.1pp4.4%▲ 6.0pp10.1%▲ 5.7pp15.5%▲ 5.4pp
Equity€43,234within the sector's middle half▲ 96.4%€31,223within the sector's middle half▼ 27.8%€44,962within the sector's middle half▲ 44.0%€74,163within the sector's middle half▲ 64.9%€118,744above the sector's middle half▲ 60.1%
Total assets€111,732within the sector's middle half▼ 36.4%€67,232within the sector's middle half▼ 39.8%€74,218within the sector's middle half▲ 10.4%€111,245within the sector's middle half▲ 49.9%€152,385within the sector's middle half▲ 37.0%
Debt€68,497▼ 55.4%€36,009▼ 47.4%€29,255▼ 18.8%€37,082▲ 26.8%€33,641▼ 9.3%
Working capital€6,910within the sector's middle half-€4,818within the sector's middle half€18,116within the sector's middle half€53,837above the sector's middle half▲ 197%€102,626above the sector's middle half▲ 90.6%
Solvency38.7%within the sector's middle half▲ 26.2pp46.4%within the sector's middle half▲ 7.7pp60.6%above the sector's middle half▲ 14.1pp66.7%above the sector's middle half▲ 6.1pp77.9%above the sector's middle half▲ 11.3pp
Current ratio1.10within the sector's middle half▲ 0.150.87within the sector's middle half▼ 0.241.62within the sector's middle half▲ 0.752.45above the sector's middle half▲ 0.834.05above the sector's middle half▲ 1.60
Return on assets (ROA)36.7%above the sector's middle half▼ 8.6pp-17.9%below the sector's middle half▼ 54.6pp18.5%above the sector's middle half▲ 36.4pp26.2%above the sector's middle half▲ 7.7pp29.3%above the sector's middle half▲ 3.0pp
Staff (FTE)3.6▼ 16.3%4.74.3▼ 8.5%3.6▼ 16.3%
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 2022 the operating result has climbed three years in a row; 2025 is 67% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €152,385
Fixed assets
€16,118 ▼ 20.7%
Current assets
€136,267 ▲ 49.9%
Equity and liabilities €152,385
Equity
€118,744 ▲ 60.1%
Debt
€33,641 ▼ 9.3%
Debt's share of the balance-sheet total falls from 33.3% to 22.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€71,343▲
2024 · €48,470
Cash flow
€49,075▲
2024 · €37,597
Debt to equity
0.28▼
2024 · 0.50
ROE
37.5%▼
2024 · 39.4%
Interest coverage
28.42▲
2024 · 20.52
Debt ≤ 1 year
€33,641▼
2024 · €37,082
Income taxes
€19,758▲
2024 · €8,512
Staff costs
€129,067▼
2024 · €133,704
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: 1.0% 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €333,832 | €427,114 | €419,514 | €395,006 | €430,006 | ▲ 8.9% |
| Goods, raw materials, services and sundry goods60/61 | €201,851 | €255,227 | €256,056 | €207,759 | €223,151 | ▲ 7.4% |
| Remuneration, social security and pensions62 | €99,625 | €163,869 | €138,823 | €133,704 | €129,067 | ▼ 3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,622 | €9,766 | €9,194 | €8,396 | €4,494 | ▼ 46.5% |
| Other operating charges640/8 | €4,515 | €4,746 | €5,345 | €5,072 | €6,445 | ▲ 27.1% |
| Gross operating margin9900 | €163,712 | €171,887 | €172,022 | €187,247 | €206,855 | ▲ 10.5% |
| Operating profit (loss)9901 | €51,949 | -€6,494 | €18,659 | €40,074 | €66,849 | ▲ 66.8% |
| Financial income75/76B | €62 | €16 | €19 | €1 | - | - |
| Recurring financial income75 | €62 | €16 | €19 | €1 | - | - |
| Financial charges65/66B | €1,758 | €3,783 | €2,465 | €2,362 | €2,511 | ▲ 6.3% |
| Recurring financial charges65 | €1,758 | €3,783 | €2,465 | €2,362 | €2,511 | ▲ 6.3% |
| Profit (loss) for the period before taxes9903 | €50,253 | -€10,262 | €16,212 | €37,713 | €64,339 | ▲ 70.6% |
| Income taxes67/77 | €9,195 | €1,750 | €2,472 | €8,512 | €19,758 | ▲ 132% |
| Profit (loss) for the period9904 | €41,058 | -€12,012 | €13,740 | €29,201 | €44,581 | ▲ 52.7% |
| Profit (loss) for the period to be appropriated9905 | €41,058 | -€12,012 | €13,740 | €29,201 | €44,581 | ▲ 52.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €111,732 | €67,232 | €74,218 | €111,245 | €152,385 | ▲ 37.0% |
| Fixed assets21/28 | €37,569 | €36,041 | €26,847 | €20,326 | €16,118 | ▼ 20.7% |
| Tangible fixed assets22/27 | €34,322 | €33,176 | €23,982 | €17,461 | €13,253 | ▼ 24.1% |
| Land and buildings22 | €16,068 | €13,967 | €11,866 | €9,765 | €7,665 | ▼ 21.5% |
| Plant, machinery and equipment23 | €8,756 | €7,843 | €5,852 | €4,099 | €4,321 | ▲ 5.4% |
| Furniture and vehicles24 | €5,049 | €8,548 | €4,857 | €3,597 | €1,268 | ▼ 64.7% |
| Other tangible fixed assets26 | €4,449 | €2,818 | €1,407 | €0 | €0 | - |
| Financial fixed assets28 | €3,247 | €2,865 | €2,865 | €2,865 | €2,865 | = |
| Current assets29/58 | €74,163 | €31,191 | €47,371 | €90,919 | €136,267 | ▲ 49.9% |
| Stocks and contracts in progress3 | €585 | €2,950 | €1,800 | - | - | - |
| Stocks30/36 | €585 | €2,950 | €1,800 | - | - | - |
| Amounts receivable within one year40/41 | €9,184 | €15,675 | €28,980 | €35,631 | €51,789 | ▲ 45.3% |
| Trade receivables40 | - | - | €3,464 | €3,464 | €2,652 | ▼ 23.4% |
| Other amounts receivable41 | €9,184 | €15,675 | €25,517 | €32,167 | €49,137 | ▲ 52.8% |
| Cash at bank and in hand54/58 | €64,393 | €12,566 | €15,462 | €53,198 | €84,429 | ▲ 58.7% |
| Deferred charges and accrued income490/1 | - | - | €1,129 | €2,090 | €49 | ▼ 97.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €111,732 | €67,232 | €74,218 | €111,245 | €152,385 | ▲ 37.0% |
| Equity10/15 | €43,234 | €31,223 | €44,962 | €74,163 | €118,744 | ▲ 60.1% |
| Reserves13 | €1,983 | €1,983 | €1,983 | €1,983 | €1,983 | = |
| Distributable reserves133 | €1,983 | €1,983 | €1,983 | €1,983 | €1,983 | = |
| Profit (loss) carried forward14 | €41,251 | €29,239 | €42,979 | €72,180 | €116,761 | ▲ 61.8% |
| Amounts payable17/49 | €68,497 | €36,009 | €29,255 | €37,082 | €33,641 | ▼ 9.3% |
| Amounts payable after more than one year17 | €1,245 | €0 | - | - | - | - |
| Financial debts170/4 | €1,245 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €67,252 | €36,009 | €29,255 | €37,082 | €33,641 | ▼ 9.3% |
| Current portion of amounts payable after more than one year42 | €13,335 | €1,245 | - | - | - | - |
| Financial debts43 | - | €6,439 | - | - | - | - |
| Other loans439 | - | €6,439 | - | - | - | - |
| Trade debts44 | €3,981 | €14,161 | €10,287 | €8,631 | - | - |
| Suppliers440/4 | €3,981 | €14,161 | €10,287 | €8,631 | - | - |
| Taxes, remuneration and social security45 | €48,736 | €14,164 | €18,968 | €28,451 | €33,641 | ▲ 18.2% |
| Taxes450/3 | €35,982 | €377 | €4,726 | €12,680 | €23,280 | ▲ 83.6% |
| Remuneration and social security454/9 | €12,755 | €13,787 | €14,243 | €15,771 | €10,362 | ▼ 34.3% |
| Other amounts payable47/48 | €1,200 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,058 | -€12,012 | €13,740 | €29,201 | €44,581 | ▲ 52.7% |
| + Depreciation and write-downs630 | €7,622 | €9,766 | €9,194 | €8,396 | €4,494 | ▼ 46.5% |
| Operating cash flow (approximation) | €48,681 | -€2,246 | €22,934 | €37,597 | €49,075 | ▲ 30.5% |
| Investment in fixed assets (approximation) | - | -€8,238 | €0 | -€1,876 | -€286 | ▲ 84.8% |
| Change in cash | - | -€51,828 | €2,896 | €37,736 | €31,231 | ▼ 17.2% |
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
Next filing, fiscal year 2026, expected by
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €100,000Eq €118,744 ▲60.1%
3 profitable years in a row build equity to €118,744.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €13,740
Net result €13,740 after one loss-making year.
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
31-12
Financial
Weakest financial yearnet -€12,012
Net result drops to -€12,012, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2020
31-12
Financial
Highest result since 2018net €79,674 ▲245%
Operating result €115,349, net result €79,674, both a record.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 417 days late
17-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 48 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State 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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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, Vresse-sur-Semois · 1 establishment unit since 1994
Ground area
154 m²
Building footprint
162 m²
Parcel 91130A0247/00G000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue Albert Raty,Vresse 62, 5550 Vresse-sur-Semois
since 19942.066.229.068
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91130A0247/00G000 | Wallonia | 154 m² | 1 · 162 m² | - |
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 siteVresse-sur-Semois2.066.229.068
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Of 14,002 companies in sector 56301 we hold annual accounts for 4,896. 3,559 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
Founded20-12-1993
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451780765
Also
9925:BE0451780765
Registered
11-02-2026
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.