SEA WITCH
ActiveSummary
SEA WITCH has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €139k and a net result of €-18k. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 70% of 13417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-30
Solvency79▼-1
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 3.59 against 5.92 in 2024; short-term debt: 5.7% and cash: 15.1% of total assets), and 46.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
26 d late
2023
29 d late
2022
28 d late
2021
26 d late
2020
24 d late
2019
53 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€139k▼ 11.5%
2024 · €157k
2018: €198khighest in 8 years
2019: €192k▼ -3.3% vs 2018
2020: €180k▼ -6.0% vs 2019
2021: €175k▼ -2.8% vs 2020
2022: €163k▼ -7.1% vs 2021
2023: €156k▼ -4.3% vs 2022
2024: €157k▲ +0.6% vs 2023
2025: €139k▼ -11.5% vs 2024lowest in 8 years
2018 → 2025
Total assets
€258k▼ 8.7%
2024 · €282k
2018: €410khighest in 8 years
2019: €358k▼ -12.6% vs 2018
2020: €330k▼ -7.8% vs 2019
2021: €317k▼ -4.0% vs 2020
2022: €304k▼ -4.2% vs 2021
2023: €282k▼ -7.1% vs 2022
2024: €282k● +0.0% vs 2023
2025: €258k▼ -8.7% vs 2024lowest in 8 years
2018 → 2025
Net result
€-18k
2024 · €993
2018: €198khighest in 8 years
2019: €-7k▼ -103% vs 2018
2020: €-11k▼ -75.0% vs 2019
2021: €-5k▲ +55.9% vs 2020
2022: €-12k▼ -146% vs 2021
2023: €-7k▲ +43.2% vs 2022
2024: €993▲ +114% vs 2023
2025: €-18k▼ -1918% vs 2024lowest in 8 years
2018 → 2025
Working capital
€38k▼ 38.3%
2024 · €61k
2018: €88khighest in 8 years
2019: €52k▼ -40.8% vs 2018
2020: €46k▼ -12.0% vs 2019
2021: €62k▲ +34.6% vs 2020
2022: €30k▼ -51.4% vs 2021lowest in 8 years
2023: €47k▲ +58.3% vs 2022
2024: €61k▲ +29.5% vs 2023
2025: €38k▼ -38.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€175k-€163k▼ 7.1%€156k▼ 4.3%€157k▲ 0.6%€139k▼ 11.5%
2021: €175khighest in 5 years
2022: €163k▼ -7.1% vs 2021
2023: €156k▼ -4.3% vs 2022
2024: €157k▲ +0.6% vs 2023
2025: €139k▼ -11.5% vs 2024lowest in 5 years
Operating result€-9k-€-16k▼ 72.6%€-10k▲ 39.7%€4k€-20k
2021: €-9k
2022: €-16k▼ -72.6% vs 2021
2023: €-10k▲ +39.7% vs 2022
2024: €4k▲ +139% vs 2023highest in 5 years
2025: €-20k▼ -645% vs 2024lowest in 5 years
Net result€-5k-€-12k▼ 146%€-7k▲ 43.2%€993€-18k
2021: €-5k
2022: €-12k▼ -146% vs 2021
2023: €-7k▲ +43.2% vs 2022
2024: €993▲ +114% vs 2023highest in 5 years
2025: €-18k▼ -1918% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €20k after €4k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €258k
Fixed assets
€205k ▼ 1.5%
Current assets
€53k ▼ 28.9%
Equity and liabilities €258k
Equity
€139k ▼ 11.5%
Provisions
€50k ▼ 7.6%
Debt
€69k ▼ 3.2%
Debt's share of the balance-sheet total rises from 25.4% to 26.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€6k▼
2024 · €30k
Cash flow
€8k▼
2024 · €27k
Current ratio
3.59▼
2024 · 5.92
Debt to equity
0.50▲
2024 · 0.46
ROE
-13.0%▼
2024 · 0.6%
ROA
-7.0%▼
2024 · 0.4%
Interest coverage
3.47▼
2024 · 13.93
Debt ≤ 1 year
€15k▲
2024 · €12k
Debt > 1 year
€47k▼
2024 · €50k
Income taxes
€0▼
2024 · €6k
Staff costs
€4k▼
2024 · €6k
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 · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€282k€258k▼
Fixed assets21/28€208k€205k▼
Tangible fixed assets22/27€208k€205k▼
Land and buildings22€185k€187k▲
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€20k€16k▼
Financial fixed assets28€526€526=
Current assets29/58€74k€53k▼
Stocks and contracts in progress3€3k€0▼
Stocks30/36€3k€0▼
Amounts receivable within one year40/41€5k€14k▲
Trade receivables40€5k€14k▲
Other amounts receivable41€57€57=
Cash at bank and in hand54/58€62k€39k▼
Deferred charges and accrued income490/1€4k€0▼
Equity and liabilities
Total equity and liabilities10/49€282k€258k▼
Equity10/15€157k€139k▼
Contributions10/11€19k€19k=
Reserves13€134k€122k▼
Non-distributable reserves130/1€401€401=
Reserves not available under the articles1311€401€401=
Tax-exempt reserves132€119k€107k▼
Distributable reserves133€15k€15k=
Profit (loss) carried forward14€4k€-2k▼
Provisions and deferred taxes16€54k€50k▼
Deferred taxes168€54k€50k▼
Amounts payable17/49€72k€69k▼
Amounts payable after more than one year17€50k€47k▼
Financial debts170/4€50k€47k▼
Amounts payable within one year42/48€12k€15k▲
Current portion of amounts payable after more than one year42€3k€4k▲
Taxes, remuneration and social security45€6k€7k▲
Taxes450/3€6k€7k▲
Remuneration and social security454/9€0-
Other amounts payable47/48€3k€4k▲
Accrued charges and deferred income492/3€9k€8k▼
Income statement
Code20242025
Remuneration, social security and pensions62€6k€4k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€26k▲
Other operating charges640/8€7k€7k▼
Gross operating margin9900€42k€16k▼
Operating profit (loss)9901€4k€-20k▼
Financial income75/76B€483€55▼
Recurring financial income75€483€55▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€2k€-22k▼
Transfer from deferred taxes780€5k€4k▼
Income taxes67/77€6k€0▼
Profit (loss) for the period9904€993€-18k▼
Transfer from tax-exempt reserves789€14k€12k▼
Profit (loss) for the period to be appropriated9905€15k€-6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€19k€-2k▼
Profit (loss) brought forward from the previous period14P€4k€4k=
Transfer to equity691/2€15k€0▼
To other reserves6921€15k€0▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2k | €0 | - | - | - |
| Remuneration, social security and pensions62 | €10k | €3k | €4k | €6k | €4k | ▼ 34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29k | €27k | €26k | €26k | €26k | ▲ 0.9% |
| Other operating charges640/8 | €6k | €9k | €6k | €7k | €7k | ▼ 0.8% |
| Gross operating margin9900 | €35k | €23k | €27k | €42k | €16k | ▼ 61.6% |
| Operating profit (loss)9901 | €-9k | €-16k | €-10k | €4k | €-20k | ▼ 645% |
| Financial income75/76B | €0 | €114 | €209 | €483 | €55 | ▼ 88.6% |
| Recurring financial income75 | €0 | €114 | €209 | €483 | €55 | ▼ 88.6% |
| Financial charges65/66B | €2k | €2k | €2k | €2k | €2k | ▼ 20.0% |
| Recurring financial charges65 | €2k | €2k | €2k | €2k | €2k | ▼ 20.0% |
| Profit (loss) for the period before taxes9903 | €-12k | €-18k | €-11k | €2k | €-22k | ▼ 1,162% |
| Transfer from deferred taxes780 | €7k | €5k | €4k | €5k | €4k | ▼ 9.1% |
| Income taxes67/77 | €0 | - | - | €6k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €-5k | €-12k | €-7k | €993 | €-18k | ▼ 1,918% |
| Transfer from tax-exempt reserves789 | €20k | €16k | €13k | €14k | €12k | ▼ 9.1% |
| Profit (loss) for the period to be appropriated9905 | €15k | €4k | €6k | €15k | €-6k | ▼ 140% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €317k | €304k | €282k | €282k | €258k | ▼ 8.7% |
| Fixed assets21/28 | €247k | €255k | €229k | €208k | €205k | ▼ 1.5% |
| Tangible fixed assets22/27 | €246k | €254k | €228k | €208k | €205k | ▼ 1.5% |
| Land and buildings22 | €238k | €220k | €202k | €185k | €187k | ▲ 1.0% |
| Plant, machinery and equipment23 | €8k | €3k | €1k | €3k | €2k | ▼ 33.2% |
| Furniture and vehicles24 | - | €32k | €25k | €20k | €16k | ▼ 19.8% |
| Financial fixed assets28 | €526 | €526 | €526 | €526 | €526 | = |
| Current assets29/58 | €70k | €49k | €53k | €74k | €53k | ▼ 28.9% |
| Stocks and contracts in progress3 | - | - | - | €3k | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €3k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €14k | €2k | €3k | €5k | €14k | ▲ 159% |
| Trade receivables40 | €12k | €490 | €2k | €5k | €14k | ▲ 161% |
| Other amounts receivable41 | €1k | €2k | €967 | €57 | €57 | = |
| Cash at bank and in hand54/58 | €57k | €32k | €46k | €62k | €39k | ▼ 37.2% |
| Deferred charges and accrued income490/1 | - | €14k | €5k | €4k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €317k | €304k | €282k | €282k | €258k | ▼ 8.7% |
| Equity10/15 | €175k | €163k | €156k | €157k | €139k | ▼ 11.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €162k | €146k | €133k | €134k | €122k | ▼ 9.2% |
| Non-distributable reserves130/1 | €401 | €401 | €401 | €401 | €401 | = |
| Reserves not available under the articles1311 | €401 | €401 | €401 | €401 | €401 | = |
| Tax-exempt reserves132 | €162k | €146k | €132k | €119k | €107k | ▼ 10.3% |
| Distributable reserves133 | - | - | - | €15k | €15k | = |
| Profit (loss) carried forward14 | €-6k | €-2k | €4k | €4k | €-2k | ▼ 139% |
| Provisions and deferred taxes16 | €68k | €63k | €58k | €54k | €50k | ▼ 7.6% |
| Deferred taxes168 | €68k | €63k | €58k | €54k | €50k | ▼ 7.6% |
| Amounts payable17/49 | €74k | €78k | €68k | €72k | €69k | ▼ 3.2% |
| Amounts payable after more than one year17 | €60k | €57k | €54k | €50k | €47k | ▼ 7.1% |
| Financial debts170/4 | €60k | €57k | €54k | €50k | €47k | ▼ 7.1% |
| Amounts payable within one year42/48 | €9k | €19k | €6k | €12k | €15k | ▲ 17.3% |
| Current portion of amounts payable after more than one year42 | €3k | €3k | €3k | €3k | €4k | ▲ 2.5% |
| Trade debts44 | €3k | €69 | €0 | - | - | - |
| Suppliers440/4 | €3k | €69 | €0 | - | - | - |
| Advances received on contracts in progress46 | - | €10k | €0 | - | - | - |
| Taxes, remuneration and social security45 | €3 | €348 | €2k | €6k | €7k | ▲ 24.0% |
| Taxes450/3 | €3 | €348 | €2k | €6k | €7k | ▲ 24.0% |
| Remuneration and social security454/9 | €0 | - | €110 | €0 | - | - |
| Other amounts payable47/48 | €3k | €5k | €0 | €3k | €4k | ▲ 21.2% |
| Accrued charges and deferred income492/3 | €5k | €2k | €9k | €9k | €8k | ▼ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €-12k | €-7k | €993 | €-18k | ▼ 1,918% |
| + Depreciation and write-downs630 | €29k | €27k | €26k | €26k | €26k | ▲ 0.9% |
| Operating cash flow (approximation) | €24k | €15k | €19k | €27k | €8k | ▼ 69.1% |
| Investment in fixed assets (approximation) | - | €-35k | €0 | €-6k | €-23k | ▼ 319% |
| Change in cash | - | €-24k | €13k | €16k | €-23k | ▼ 241% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Back to profitnet €993
Net result €993 after 5 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Liquidity quadruplescurrent ratio 9.31
Current ratio from 2.59 to 9.31; short-term debt falls from €19k to €6k.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brugge · 1 establishment unit since 1991
Ground area
174 m²
Building footprint
174 m²
Volume, LiDAR
937 m³
Parcel 31812P0047/00X015, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SEA WITCH BVBA
since 19912.052.706.476
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812P0047/00X015 | Flanders | 174 m² | 1 · 174 m² | 7.4 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.052.706.476
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 9,176 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
Founded29-04-1991
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
47811Retail sale of cars and light vans (up to 3.5 tonnes)
55204Guest rooms (bed and breakfast)
Scores and ratios are computed by Checked and are not a credit decision.