REEF CAFÉ
ActiveThe computed 12-month bankruptcy probability of REEF CAFÉ is 1.5% (moderate). The 2025 annual accounts show equity of €74k and a net result of €13k. Equity is shrinking by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 60% of 3644 sector peers (fiscal year 2025). The company has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability77▲+6
Solvency64▲+10
Growth58=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.91 against 0.71 in 2024; short-term debt: 56.9% and cash: 1.5% of total assets), and 60.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
Sector 56
higher
← 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
39.3%
Return on assets
6.9%
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 €74k
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
28 d late
2023
85 d early
2022
4 d early
2021
9 d late
2020
72 d early
2019
78 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€74k▲ 21.4%
2024 · €61k
2018: €137k
2019: €115k
2020: €132k
2021: €167k
2022: €106k
2023: €57k
2024: €61k
2018 → 2025
Total assets
€189k▼ 11.6%
2024 · €213k
2018: €201k
2019: €145k
2020: €184k
2021: €185k
2022: €138k
2023: €189k
2024: €213k
2018 → 2025
Net result
€13k▲ 253%
2024 · €4k
2018: €198
2019: €-22k
2020: €17k
2021: €35k
2022: €-61k
2023: €-48k
2024: €4k
2018 → 2025
Working capital
€-10k▲ 72.6%
2024 · €-36k
2018: €81k
2019: €68k
2020: €92k
2021: €123k
2022: €66k
2023: €-21k
2024: €-36k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€167k-€106k▼ 36.7%€57k▼ 45.8%€61k▲ 6.4%€74k▲ 21.4%
Operating result€46k-€-54k€-39k▲ 28.3%€13k€22k▲ 77.3%
Net result€35k-€-61k€-48k▲ 20.9%€4k€13k▲ 253%
Turnover and EBIT margin not published: the abbreviated 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 77% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €189k
Fixed assets
€91k▼ 27.2%
Current assets
€98k▲ 10.6%
Equity and liabilities €189k
Equity
€74k▲ 21.4%
Debt
€115k▼ 24.8%
The debt ratio falls from 71.4% to 60.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64k▲
2024 · €55k
Cash flow
€54k▲
2024 · €46k
Solvency
39.3%▲
2024 · 28.6%
Current ratio
0.91▲
2024 · 0.71
Quick ratio
0.89▲
2024 · 0.67
Debt / equity
1.55▼
2024 · 2.49
ROE
17.6%▲
2024 · 6.1%
ROA
6.9%▲
2024 · 1.7%
Interest coverage
7.30▲
2024 · 6.49
Debt
€115k▼
2024 · €152k
Debt ≤ 1 year
€107k▼
2024 · €124k
Debt > 1 year
€7k▼
2024 · €28k
Income taxes
€623▼
2024 · €646
Staff costs
€291k▲
2024 · €269k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€213k€189k▼
Fixed assets21/28€125k€91k▼
Tangible fixed assets22/27€125k€91k▼
Plant, machinery and equipment23€47k€37k▼
Furniture and vehicles24€78k€55k▼
Current assets29/58€88k€98k▲
Stocks and contracts in progress3€5k€2k▼
Stocks30/36€5k€2k▼
Amounts receivable within one year40/41€51k€90k▲
Trade receivables40€8k€12k▲
Other amounts receivable41€43k€79k▲
Cash at bank and in hand54/58€29k€3k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€213k€189k▼
Equity10/15€61k€74k▲
Contributions10/11€19k€19k=
Reserves13€142k€142k=
Distributable reserves133€142k€142k=
Profit (loss) carried forward14€-100k€-87k▲
Amounts payable17/49€152k€115k▼
Amounts payable after more than one year17€28k€7k▼
Financial debts170/4€28k€7k▼
Amounts payable within one year42/48€124k€107k▼
Current portion of amounts payable after more than one year42€20k€21k▲
Trade debts44€83k€61k▼
Suppliers440/4€83k€61k▼
Advances received on contracts in progress46-€3k
Taxes, remuneration and social security45€21k€21k▲
Taxes450/3€4k€4k▼
Remuneration and social security454/9€16k€17k▲
Other amounts payable47/48€428€790▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€269k€291k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€41k▼
Other operating charges640/8€8k€6k▼
Gross operating margin9900€332k€362k▲
Operating profit (loss)9901€13k€22k▲
Financial income75/76B€145€9▼
Recurring financial income75€145€9▼
Financial charges65/66B€8k€9k▲
Recurring financial charges65€8k€9k▲
Profit (loss) for the period before taxes9903€4k€14k▲
Income taxes67/77€646€623▼
Profit (loss) for the period9904€4k€13k▲
Profit (loss) for the period to be appropriated9905€4k€13k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-100k€-87k▲
Profit (loss) brought forward from the previous period14P€-103k€-100k▲
Social balance
Average headcount (FTE)908712.612.7▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
07-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-61k ▼273%
Net result drops to €-61k, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 9 days late
2021
31-12
Financial
Highest result since 2018net €35k ▲111%
Operating result €46k, net result €35k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 8.02
Current ratio from 2.77 to 8.02; short-term debt falls from €52k to €17k.
31-12
Financial
Equity above €150kEq €167k ▲26.8%
2 profitable years in a row build equity to €167k.
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
14-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Blankenberge · 2 establishment units since 2003
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.
Koninginlaan 778370 BlankenbergeGround area
6.7 ha
Building footprint
1.2 ha
Volume, LiDAR
111,243 m³
3 parcels, Flanders · tallest building 20.8 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Reef Café/Buddha Bar/Nomad
since 20032.126.560.989
Boho Village Experience
since 20262.387.513.458
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31602B0245/00H000 | Flanders | 6.2 ha | 1 · 1.0 ha | 20.8 m · 3 fl. |
| 31602A0406/02_000 | Flanders | 4,895 m² | 1 · 1,773 m² | 14.9 m |
| 31602B0001/00T004 | Flanders | 477 m² | 1 · 160 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels 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 siteBlankenberge2.126.560.989
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Of 21,896 companies in sector 56112 we hold annual accounts for 9,784. 8,120 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded26-03-2003
Fiscal year end31-12
Activities, NACEBEL
55302
55401
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.