PATAQUES
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 5 filings
Turnover
≈ €550,000
Estimated: probably between €410,000 and €670,000
EBIT margin
Not included in this filing
Net result
-€245,479
2024 · €171
Working capital
-€165,602▼ 13.3%
2024 · -€146,136
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€16,719
▲ 81.6%
2025
20212025
Net result
-€245,479
2025
lowest quarter of the sector
20212025
Equity
-€164,207
2025
lowest quarter of the sector
20212025
Total assets
€149,306
▼ 64.8%
2025
middle half of the sector
20212025
Debt
€313,512
▼ 8.5%
2025
20212025
Working capital
-€165,602
▼ 13.3%
2025
lowest quarter of the sector
20212025
Solvency
-110.0%
▼ 129.2pp
2025
lowest quarter of the sector
20212025
Current ratio
0.22
▼ 0.06
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
-164.4%
▼ 164.5pp
2025
lowest quarter of the sector
20212025
Staff (FTE)
5.8
▲ 3.6%
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€1,813-€55,893€44,254▼ 20.8%€9,204▼ 79.2%€16,719▲ 81.6%
Net result-€1,813within the sector's middle half-€46,867above the sector's middle half€33,547within the sector's middle half▼ 28.4%€171within the sector's middle half▼ 99.5%-€245,479below the sector's middle half
Equity€687within the sector's middle half-€47,554within the sector's middle half▲ 69×€81,101within the sector's middle half▲ 70.5%€81,272within the sector's middle half▲ 0.2%-€164,207below the sector's middle half
Total assets€1,034below the sector's middle half-€140,432within the sector's middle half▲ 136×€195,897within the sector's middle half▲ 39.5%€423,769within the sector's middle half▲ 116%€149,306within the sector's middle half▼ 64.8%
Debt€348-€92,878▲ 267×€114,796▲ 23.6%€342,497▲ 198%€313,512▼ 8.5%
Working capital€81,030above the sector's middle half€78,291above the sector's middle half▼ 3.4%-€146,136below the sector's middle half-€165,602below the sector's middle half▼ 13.3%
Solvency33.9%within the sector's middle half41.4%within the sector's middle half▲ 7.5pp19.2%within the sector's middle half▼ 22.2pp-110.0%below the sector's middle half▼ 129.2pp
Current ratio5.66above the sector's middle half3.35above the sector's middle half▼ 2.310.27below the sector's middle half▼ 3.070.22below the sector's middle half▼ 0.06
Return on assets (ROA)33.4%above the sector's middle half17.1%above the sector's middle half▼ 16.2pp0.0%within the sector's middle half▼ 17.1pp-164.4%below the sector's middle half▼ 164.5pp
Staff (FTE)7.42.7below the sector's middle half▼ 63.5%5.6within the sector's middle half▲ 107%5.8within the sector's middle half▲ 3.6%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 82% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149,306
Fixed assets
€103,598 ▼ 71.9%
Current assets
€45,708 ▼ 16.8%
Equity and liabilities
Equity-€164,207
Debt€313,512
Equity is negative. Debt (€313,512) exceeds the balance-sheet total (€149,306).
Key figures and ratios
EBITDA
€29,860▲
2024 · €24,629
Cash flow
-€232,338▼
2024 · €15,596
Quick ratio
0.20▼
2024 · 0.27
Interest coverage
4.09▲
2024 · 2.77
Debt ≤ 1 year
€211,310▲
2024 · €201,103
Debt > 1 year
€102,202▼
2024 · €141,393
Income taxes
€2,372▲
2024 · €207
Staff costs
€144,313▼
2024 · €165,882
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | - | 1 | 1 | 1 |
| full-time | - | 1 | 1 | 1 |
| in full-time equivalents | - | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 2 | 2.7 | 5.6 | 5.8 |
| On a permanent contract | - | - | 1 | 1 |
| Joined | 24 | 42 | 74 | 80 |
| Left | 24 | 42 | 74 | 81 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | €110,000 | - |
| Debts guaranteed by Belgian public bodies | - | - | - | - | €110,000 |
| Pledge on the business | - | - | - | €110,000 | €110,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €42,100 | €59,609 | - | €2,077 |
| Intangible fixed assets | - | €8,756 | - | - | - |
| Financial fixed assets | - | - | - | €300,000 | - |
| Depreciation and write-downs of the year | - | €8,843 | €14,465 | €15,425 | €13,141 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €11 | €51,613 | €88,074 | €165,882 | €144,313 | ▼ 13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €8,843 | €14,465 | €15,425 | €13,141 | ▼ 14.8% |
| Other operating charges640/8 | €438 | €618 | €747 | €664 | €683 | ▲ 2.8% |
| Non-recurring operating charges66A | - | €10,000 | €3,005 | - | - | - |
| Gross operating margin9900 | -€1,365 | €126,967 | €150,545 | €191,176 | €174,856 | ▼ 8.5% |
| Operating profit (loss)9901 | -€1,813 | €55,893 | €44,254 | €9,204 | €16,719 | ▲ 81.6% |
| Financial income75/76B | - | €892 | - | €62 | €1,606 | ▲ 26× |
| Recurring financial income75 | - | €892 | - | €62 | €1,606 | ▲ 26× |
| Financial charges65/66B | - | €156 | €137 | €8,888 | €261,432 | ▲ 29× |
| Recurring financial charges65 | - | €156 | €137 | €8,888 | €7,292 | ▼ 18.0% |
| Non-recurring financial charges66B | - | - | - | - | €254,140 | - |
| Profit (loss) for the period before taxes9903 | -€1,813 | €56,629 | €44,117 | €379 | -€243,107 | - |
| Income taxes67/77 | - | €9,762 | €10,570 | €207 | €2,372 | ▲ 11× |
| Profit (loss) for the period9904 | -€1,813 | €46,867 | €33,547 | €171 | -€245,479 | - |
| Profit (loss) for the period to be appropriated9905 | -€1,813 | €46,867 | €33,547 | €171 | -€245,479 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1,034 | €140,432 | €195,897 | €423,769 | €149,306 | ▼ 64.8% |
| Fixed assets21/28 | - | €42,013 | €84,226 | €368,801 | €103,598 | ▼ 71.9% |
| Intangible fixed assets21 | - | €7,005 | €5,254 | €3,502 | €1,751 | ▼ 50.0% |
| Tangible fixed assets22/27 | - | €35,008 | €78,973 | €65,299 | €55,986 | ▼ 14.3% |
| Plant, machinery and equipment23 | - | €32,063 | €34,541 | €27,822 | €21,104 | ▼ 24.1% |
| Furniture and vehicles24 | - | €1,250 | €6,398 | €4,446 | €6,856 | ▲ 54.2% |
| Other tangible fixed assets26 | - | €1,695 | €38,034 | €33,030 | €28,027 | ▼ 15.1% |
| Financial fixed assets28 | - | - | - | €300,000 | €45,860 | ▼ 84.7% |
| Current assets29/58 | €1,034 | €98,419 | €111,670 | €54,968 | €45,708 | ▼ 16.8% |
| Stocks and contracts in progress3 | - | - | - | - | €3,248 | - |
| Stocks30/36 | - | - | - | - | €3,248 | - |
| Amounts receivable within one year40/41 | €25 | - | €1,558 | €29,174 | €8,203 | ▼ 71.9% |
| Trade receivables40 | €25 | - | - | €254 | €4,853 | ▲ 19× |
| Other amounts receivable41 | - | - | €1,558 | €28,920 | €3,351 | ▼ 88.4% |
| Cash at bank and in hand54/58 | €1,010 | €98,419 | €110,112 | €25,794 | €34,257 | ▲ 32.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1,034 | €140,432 | €195,897 | €423,769 | €149,306 | ▼ 64.8% |
| Equity10/15 | €687 | €47,554 | €81,101 | €81,272 | -€164,207 | - |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | - | - | - | €78,772 | €78,772 | = |
| Distributable reserves133 | - | - | - | €78,772 | €78,772 | = |
| Profit (loss) carried forward14 | -€1,813 | €45,054 | €78,601 | - | -€245,479 | - |
| Amounts payable17/49 | €348 | €92,878 | €114,796 | €342,497 | €313,512 | ▼ 8.5% |
| Amounts payable after more than one year17 | - | €74,036 | €79,554 | €141,393 | €102,202 | ▼ 27.7% |
| Financial debts170/4 | - | €74,036 | €79,554 | €141,393 | €102,202 | ▼ 27.7% |
| Amounts payable within one year42/48 | - | €17,389 | €33,380 | €201,103 | €211,310 | ▲ 5.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €37,492 | €39,191 | ▲ 4.5% |
| Trade debts44 | - | €4,781 | €4,992 | €21,925 | €24,671 | ▲ 12.5% |
| Suppliers440/4 | - | €4,781 | €4,992 | €21,925 | €24,671 | ▲ 12.5% |
| Taxes, remuneration and social security45 | - | €12,609 | €28,387 | €22,542 | €11,606 | ▼ 48.5% |
| Taxes450/3 | - | €10,402 | €27,935 | €7,541 | €7,131 | ▼ 5.4% |
| Remuneration and social security454/9 | - | €2,207 | €452 | €15,001 | €4,475 | ▼ 70.2% |
| Other amounts payable47/48 | - | - | - | €119,145 | €135,842 | ▲ 14.0% |
| Accrued charges and deferred income492/3 | €348 | €1,453 | €1,862 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,813 | €46,867 | €33,547 | €171 | -€245,479 | - |
| + Depreciation and write-downs630 | - | €8,843 | €14,465 | €15,425 | €13,141 | ▼ 14.8% |
| Operating cash flow (approximation) | -€1,813 | €55,710 | €48,012 | €15,596 | -€232,338 | - |
| Investment in fixed assets (approximation) | - | - | -€56,679 | -€300,000 | €252,062 | - |
| Change in cash | - | €97,410 | €11,693 | -€84,318 | €8,463 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as PATAQUES has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
84.8%
was still going
5.6%
stopped otherwise
8.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PATAQUES itself: 6.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,639 companies, not a prediction for PATAQUES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 01-07-2026 | 2026-00233623 | |
| 31-12-2024 | full format | 25-09-2025 | 2025-00506392 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00430900 | |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00363735 | |
| 31-12-2021 | micro format | 23-08-2022 | 2022-20317641 |