SAFRE
ActiveSummary
SAFRE has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.02M and a net result of €13k. Equity is growing by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 89% of 2937 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70▼-1
Solvency99▲+8
Growth68=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 3.29 against 2.22 in 2023; short-term debt: 25.4% and cash: 14.9% of total assets), and 25.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 2024Solvency, return and age of the figures
Solvency
74.4%
Return on assets
0.9%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-10-2025, 69 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
69 d late
2023
27 d late
2022
135 d late
2021
155 d late
2020
89 d late
2019
13 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Turnover
€2.14M▲ 20.2%
2018 · €1.78M
2018: €1.78M
2019: €2.14M▲ +20.2% vs 2018
2018 → 2019
EBIT margin
6.6%▼ 3.0pp
2018 · 9.6%
2018: 9.6%
2019: 6.6%▼ -31.6% vs 2018
2018 → 2019
Net result
€13k▼ 55.6%
2023 · €29k
2018: €115k
2019: €94k▼ -18.1% vs 2018
2020: €50k▼ -46.7% vs 2019
2021: €227k▲ +353% vs 2020highest in 7 years
2022: €126k▼ -44.6% vs 2021
2023: €29k▼ -77.3% vs 2022
2024: €13k▼ -55.6% vs 2023lowest in 7 years
2018 → 2024
Working capital
€797k▲ 27.6%
2023 · €625k
2018: €224klowest in 7 years
2019: €336k▲ +50.4% vs 2018
2020: €294k▼ -12.5% vs 2019
2021: €508k▲ +72.7% vs 2020
2022: €571k▲ +12.4% vs 2021
2023: €625k▲ +9.4% vs 2022
2024: €797k▲ +27.6% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€623k-€850k▲ 36.5%€975k▲ 14.8%€1.00M▲ 2.9%€1.02M▲ 1.3%
2020: €623klowest in 5 years
2021: €850k▲ +36.5% vs 2020
2022: €975k▲ +14.8% vs 2021
2023: €1.00M▲ +2.9% vs 2022
2024: €1.02M▲ +1.3% vs 2023highest in 5 years
Operating result€86k-€317k▲ 271%€185k▼ 41.7%€78k▼ 57.6%€45k▼ 42.1%
2020: €86k
2021: €317k▲ +271% vs 2020highest in 5 years
2022: €185k▼ -41.7% vs 2021
2023: €78k▼ -57.6% vs 2022
2024: €45k▼ -42.1% vs 2023lowest in 5 years
Net result€50k-€227k▲ 353%€126k▼ 44.6%€29k▼ 77.3%€13k▼ 55.6%
2020: €50k
2021: €227k▲ +353% vs 2020highest in 5 years
2022: €126k▼ -44.6% vs 2021
2023: €29k▼ -77.3% vs 2022
2024: €13k▼ -55.6% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 42% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.37M
Fixed assets
€221k ▼ 43.1%
Current assets
€1.14M ▲ 0.8%
Equity and liabilities €1.37M
Equity
€1.02M ▲ 1.3%
Debt
€349k ▼ 32.8%
Debt's share of the balance-sheet total falls from 34.1% to 25.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€122k▼
2023 · €163k
Cash flow
€89k▼
2023 · €113k
Current ratio
3.29▲
2023 · 2.22
Quick ratio
2.94▲
2023 · 2.01
Debt to equity
0.34▼
2023 · 0.52
ROE
1.2%▼
2023 · 2.8%
ROA
0.9%▼
2023 · 1.9%
Interest coverage
10.42▲
2023 · 8.13
Debt ≤ 1 year
€348k▼
2023 · €511k
Debt > 1 year
€2k▼
2023 · €9k
Income taxes
€24k▼
2023 · €30k
Staff costs
€1.06M▲
2023 · €901k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 61 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.52M€1.37M▼
Fixed assets21/28€388k€221k▼
Intangible fixed assets21€3k€218▼
Tangible fixed assets22/27€372k€208k▼
Land and buildings22€135k€10k▼
Plant, machinery and equipment23€65k€44k▼
Furniture and vehicles24€24k€19k▼
Other tangible fixed assets26€148k€134k▼
Financial fixed assets28€13k€13k=
Current assets29/58€1.14M€1.14M▲
Stocks and contracts in progress3€111k€121k▲
Stocks30/36€111k€121k▲
Amounts receivable within one year40/41€764k€768k▲
Trade receivables40€702k€632k▼
Other amounts receivable41€62k€136k▲
Cash at bank and in hand54/58€232k€204k▼
Deferred charges and accrued income490/1€28k€52k▲
Equity and liabilities
Total equity and liabilities10/49€1.52M€1.37M▼
Equity10/15€1.00M€1.02M▲
Contributions10/11€19k€19k=
Reserves13€433k€446k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€431k€444k▲
Profit (loss) carried forward14€552k€552k=
Amounts payable17/49€520k€349k▼
Amounts payable after more than one year17€9k€2k▼
Financial debts170/4€8k€627▼
Other amounts payable178/9€1k€1k=
Amounts payable within one year42/48€511k€348k▼
Current portion of amounts payable after more than one year42€22k€47k▲
Financial debts43€5k€3k▼
Credit institutions430/8€5k€3k▼
Trade debts44€315k€216k▼
Suppliers440/4€315k€216k▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€155k€69k▼
Taxes450/3€115k€38k▼
Remuneration and social security454/9€40k€31k▼
Other amounts payable47/48€13k€13k▲
Income statement
Code20232024
Non-recurring operating income76A€4k€0▼
Remuneration, social security and pensions62€901k€1.06M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€84k€77k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0€26k▲
Other operating charges640/8€7k€9k▲
Non-recurring operating charges66A-€2k
Gross operating margin9900€1.07M€1.21M▲
Operating profit (loss)9901€78k€45k▼
Financial income75/76B€273€3k▲
Recurring financial income75€273€3k▲
Financial charges65/66B€20k€12k▼
Recurring financial charges65€20k€12k▼
Profit (loss) for the period before taxes9903€59k€36k▼
Income taxes67/77€30k€24k▼
Profit (loss) for the period9904€29k€13k▼
Profit (loss) for the period to be appropriated9905€29k€13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€581k€565k▼
Profit (loss) brought forward from the previous period14P€552k€552k=
Transfer to equity691/2€29k€13k▼
To other reserves6921€29k€13k▼
Social balance
Average headcount (FTE)908721.927.3▲
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4k | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €340k | €675k | €901k | €1.06M | ▲ 17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €70k | €63k | €81k | €84k | €77k | ▼ 8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €116k | €79k | €0 | €26k | - |
| Other operating charges640/8 | - | €9k | €6k | €7k | €9k | ▲ 22.5% |
| Non-recurring operating charges66A | - | - | - | - | €2k | - |
| Gross operating margin9900 | €451k | €845k | €1.03M | €1.07M | €1.21M | ▲ 13.4% |
| Operating profit (loss)9901 | €86k | €317k | €185k | €78k | €45k | ▼ 42.1% |
| Financial income75/76B | - | €5k | €13k | €273 | €3k | ▲ 865% |
| Recurring financial income75 | €4k | €5k | €13k | €273 | €3k | ▲ 865% |
| Financial charges65/66B | - | €10k | €10k | €20k | €12k | ▼ 41.4% |
| Recurring financial charges65 | €24k | €10k | €10k | €20k | €12k | ▼ 41.4% |
| Profit (loss) for the period before taxes9903 | €66k | €313k | €188k | €59k | €36k | ▼ 38.1% |
| Income taxes67/77 | €15k | €86k | €62k | €30k | €24k | ▼ 21.4% |
| Profit (loss) for the period9904 | €50k | €227k | €126k | €29k | €13k | ▼ 55.6% |
| Profit (loss) for the period to be appropriated9905 | €50k | €227k | €126k | €29k | €13k | ▼ 55.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €922k | €1.17M | €1.55M | €1.52M | €1.37M | ▼ 10.4% |
| Fixed assets21/28 | €329k | €401k | €435k | €388k | €221k | ▼ 43.1% |
| Intangible fixed assets21 | €2k | €5k | €6k | €3k | €218 | ▼ 92.4% |
| Tangible fixed assets22/27 | €314k | €382k | €416k | €372k | €208k | ▼ 44.2% |
| Land and buildings22 | - | €150k | €144k | €135k | €10k | ▼ 92.4% |
| Plant, machinery and equipment23 | - | €76k | €75k | €65k | €44k | ▼ 32.8% |
| Furniture and vehicles24 | - | €28k | €31k | €24k | €19k | ▼ 19.7% |
| Other tangible fixed assets26 | - | €129k | €166k | €148k | €134k | ▼ 9.1% |
| Financial fixed assets28 | €13k | €13k | €13k | €13k | €13k | = |
| Current assets29/58 | €592k | €774k | €1.11M | €1.14M | €1.14M | ▲ 0.8% |
| Stocks and contracts in progress3 | €113k | €135k | €69k | €111k | €121k | ▲ 9.0% |
| Stocks30/36 | - | €135k | €69k | €111k | €121k | ▲ 9.0% |
| Amounts receivable within one year40/41 | €338k | €226k | €710k | €764k | €768k | ▲ 0.5% |
| Trade receivables40 | - | €24k | €473k | €702k | €632k | ▼ 10.0% |
| Other amounts receivable41 | - | €202k | €237k | €62k | €136k | ▲ 119% |
| Current investments50/53 | €15k | €158k | €125k | - | - | - |
| Cash at bank and in hand54/58 | €106k | €243k | €187k | €232k | €204k | ▼ 12.0% |
| Deferred charges and accrued income490/1 | - | €12k | €20k | €28k | €52k | ▲ 83.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €922k | €1.17M | €1.55M | €1.52M | €1.37M | ▼ 10.4% |
| Equity10/15 | €623k | €850k | €975k | €1.00M | €1.02M | ▲ 1.3% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €52k | €279k | €405k | €433k | €446k | ▲ 2.9% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €277k | €403k | €431k | €444k | ▲ 2.9% |
| Profit (loss) carried forward14 | €552k | €552k | €552k | €552k | €552k | = |
| Amounts payable17/49 | €299k | €325k | €572k | €520k | €349k | ▼ 32.8% |
| Amounts payable after more than one year17 | €1k | €60k | €31k | €9k | €2k | ▼ 80.1% |
| Financial debts170/4 | - | €60k | €30k | €8k | €627 | ▼ 92.1% |
| Other amounts payable178/9 | - | - | €1k | €1k | €1k | = |
| Amounts payable within one year42/48 | €298k | €266k | €540k | €511k | €348k | ▼ 31.9% |
| Current portion of amounts payable after more than one year42 | - | €31k | €28k | €22k | €47k | ▲ 114% |
| Financial debts43 | - | €3k | €7k | €5k | €3k | ▼ 45.7% |
| Credit institutions430/8 | - | €3k | €7k | €5k | €3k | ▼ 45.7% |
| Trade debts44 | €210k | €97k | €235k | €315k | €216k | ▼ 31.6% |
| Suppliers440/4 | - | €97k | €235k | €315k | €216k | ▼ 31.6% |
| Advances received on contracts in progress46 | - | - | €50k | €0 | - | - |
| Taxes, remuneration and social security45 | - | €110k | €203k | €155k | €69k | ▼ 55.5% |
| Taxes450/3 | - | €68k | €125k | €115k | €38k | ▼ 67.2% |
| Remuneration and social security454/9 | - | €41k | €78k | €40k | €31k | ▼ 21.6% |
| Other amounts payable47/48 | - | €25k | €17k | €13k | €13k | ▲ 0.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50k | €227k | €126k | €29k | €13k | ▼ 55.6% |
| + Depreciation and write-downs630 | €70k | €63k | €81k | €84k | €77k | ▼ 8.9% |
| Operating cash flow (approximation) | €120k | €290k | €206k | €113k | €89k | ▼ 20.7% |
| Investment in fixed assets (approximation) | - | €-134k | €-115k | €-37k | €90k | ▲ 344% |
| Change in cash | - | €137k | €-56k | €44k | €-28k | ▼ 163% |
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
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 69 days late
2024
31-12
Financial
Weakest financial yearnet €13k ▼55.6%
Net result drops to €13k, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
31-12
Financial
Equity above €1MEq €1.00M ▲2.9%
6 profitable years in a row build equity to €1.00M.
13-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 135 days late
02-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 155 days late
2021
31-12
Financial
Highest result since 2018net €227k ▲353%
Operating result €317k, net result €227k, both a record.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 13 days late
2019
31-12
Financial
Equity above €500kEq €572k ▲19.7%
2 profitable years in a row build equity to €572k.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 61 days late
2018
22-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 114 days late
16-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 259 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 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, Sint-Martens-Latem · 1 establishment unit since 2009
Ground area
1,269 m²
Building footprint
423 m²
Volume, LiDAR
1,854 m³
Parcel 44015A0259/00D000, Flanders · tallest building 11.8 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
d'ouwe hoeve
since 20092.179.631.867
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44015A0259/00D000 | Flanders | 1,269 m² | 1 · 423 m² | 11.8 m · 1 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 647 EUR awarded · 647 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 147 EUR | 147 EUR |
| 2022 | 1 | 500 EUR | 500 EUR |
Schemes
Stagebonus (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Martens-Latem2.179.631.867
Dual-learning approval
2 live approvals · 4 endedKeukenmedewerker (vwo)
Keukenmedewerker duaal (so)
Show 4 ended approvals
Hulpkelner (so)
Hulpkok (so)
Kelner (so)
Keukenmedewerker (so)
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 4,165 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
Founded25-03-2009
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56210Event catering
Scores and ratios are computed by Checked and are not a credit decision.