SINGH
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-03-2026 PDF all 30 filings
Turnover
≈ €230,000
Estimated: probably between €140,000 and €380,000
Total assets
€57,217▼ 14.0%
2024 · €66,551
Net result
-€2,964
2024 · €6,916
Working capital
€13,457▼ 20.2%
2024 · €16,860
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€1,950
▼ 85.5%
2025
20192025
Net result
-€2,964
2025
middle half of the sector
20192025
Equity
€26,835
▼ 9.9%
2025
middle half of the sector
20192025
Total assets
€57,217
▼ 14.0%
2025
middle half of the sector
20192025
Debt
€30,382
▼ 17.3%
2025
20192025
Working capital
€13,457
▼ 20.2%
2025
middle half of the sector
20192025
Solvency
46.9%
▲ 2.1pp
2025
middle half of the sector
20192025
Current ratio
1.60
▼ 0.08
2025
middle half of the sector
20192025
Return on assets (ROA)
-5.2%
▼ 15.6pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€4,550-€12,966▲ 185%€1,043▼ 92.0%-€8€1,991€13,406▲ 573%€1,950▼ 85.5%
Net result€2,485-€12,178within the sector's middle half▲ 390%-€258within the sector's middle half-€1,414within the sector's middle half▼ 447%€607within the sector's middle half€6,916within the sector's middle half▲ 11×-€2,964within the sector's middle half
Equity€11,770-€23,948within the sector's middle half▲ 103%€23,690within the sector's middle half▼ 1.1%€22,276within the sector's middle half▼ 6.0%€22,883within the sector's middle half▲ 2.7%€29,799within the sector's middle half▲ 30.2%€26,835within the sector's middle half▼ 9.9%
Total assets€30,699-€39,100within the sector's middle half▲ 27.4%€44,869below the sector's middle half▲ 14.8%€40,431below the sector's middle half▼ 9.9%€57,979within the sector's middle half▲ 43.4%€66,551within the sector's middle half▲ 14.8%€57,217within the sector's middle half▼ 14.0%
Debt€18,928-€15,151▼ 20.0%€21,179▲ 39.8%€18,156▼ 14.3%€35,096▲ 93.3%€36,753▲ 4.7%€30,382▼ 17.3%
Working capital€8,358-€15,990within the sector's middle half▲ 91.3%€17,155within the sector's middle half▲ 7.3%€17,164within the sector's middle half▲ 0.1%€12,450within the sector's middle half▼ 27.5%€16,860within the sector's middle half▲ 35.4%€13,457within the sector's middle half▼ 20.2%
Solvency38.3%-61.2%above the sector's middle half▲ 22.9pp52.8%within the sector's middle half▼ 8.5pp55.1%within the sector's middle half▲ 2.3pp39.5%within the sector's middle half▼ 15.6pp44.8%within the sector's middle half▲ 5.3pp46.9%within the sector's middle half▲ 2.1pp
Current ratio1.44-2.06within the sector's middle half▲ 0.611.81within the sector's middle half▼ 0.251.95within the sector's middle half▲ 0.141.53within the sector's middle half▼ 0.411.68within the sector's middle half▲ 0.151.60within the sector's middle half▼ 0.08
Return on assets (ROA)8.1%-31.1%above the sector's middle half▲ 23.0pp-0.6%within the sector's middle half▼ 31.7pp-3.5%within the sector's middle half▼ 2.9pp1.0%within the sector's middle half▲ 4.5pp10.4%within the sector's middle half▲ 9.3pp-5.2%within the sector's middle half▼ 15.6pp
Staff (FTE)0.5-0.3below the sector's middle half▼ 40.0%0.6▲ 100%0.7▲ 16.7%
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 85% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €57,217
Fixed assets
€21,438 ▼ 14.0%
Current assets
€35,778 ▼ 14.1%
Equity and liabilities €57,217
Equity
€26,835 ▼ 9.9%
Debt
€30,382 ▼ 17.3%
Debt's share of the balance-sheet total falls from 55.2% to 53.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€5,427▼
2024 · €16,836
Cash flow
€513▼
2024 · €10,346
Quick ratio
1.46▼
2024 · 1.57
Debt to equity
1.13▼
2024 · 1.23
ROE
-11.0%▼
2024 · 23.2%
Interest coverage
1.01▼
2024 · 5.19
Debt ≤ 1 year
€22,322▼
2024 · €24,776
Debt > 1 year
€5,930▼
2024 · €8,947
Income taxes
€0▼
2024 · €3,460
Staff costs
€13,726▼
2024 · €15,122
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 | 30-09-2022 |
|---|---|---|
| Employees at the balance-sheet date | - | 3 |
| part-time | - | 3 |
| in full-time equivalents | - | 0.3 |
| Average over the year, in full-time equivalents | 0.1 | 0.1 |
| Joined | 10 | 8 |
| Left | 10 | 5 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €20,153 | €6,092 | - |
| Depreciation and write-downs of the year | €1,423 | €1,423 | €1,523 | €3,430 | €3,477 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €13,388 | €16,429 | €12,710 | €15,122 | €13,726 | ▼ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €400 | €571 | €1,423 | €1,423 | €1,523 | €3,430 | €3,477 | ▲ 1.4% |
| Other operating charges640/8 | - | - | €2,426 | €4,269 | €1,093 | €1,651 | €1,162 | ▼ 29.6% |
| Gross operating margin9900 | €27,201 | €31,358 | €18,280 | €22,113 | €17,317 | €33,609 | €20,316 | ▼ 39.5% |
| Operating profit (loss)9901 | €4,550 | €12,966 | €1,043 | -€8 | €1,991 | €13,406 | €1,950 | ▼ 85.5% |
| Financial income75/76B | - | - | €17 | €231 | €115 | €213 | €481 | ▲ 125% |
| Recurring financial income75 | €395 | €284 | €17 | €231 | €115 | €213 | €481 | ▲ 125% |
| Financial charges65/66B | - | - | €1,063 | €1,629 | €1,499 | €3,243 | €5,395 | ▲ 66.3% |
| Recurring financial charges65 | €1,615 | €1,072 | €1,063 | €1,629 | €1,499 | €3,243 | €5,395 | ▲ 66.3% |
| Profit (loss) for the period before taxes9903 | €3,329 | €12,178 | -€3 | -€1,405 | €607 | €10,376 | -€2,964 | - |
| Income taxes67/77 | €844 | - | €255 | €9 | €0 | €3,460 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €2,485 | €12,178 | -€258 | -€1,414 | €607 | €6,916 | -€2,964 | - |
| Profit (loss) for the period to be appropriated9905 | €2,485 | €12,178 | -€258 | -€1,414 | €607 | €6,916 | -€2,964 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €30,699 | €39,100 | €44,869 | €40,431 | €57,979 | €66,551 | €57,217 | ▼ 14.0% |
| Fixed assets21/28 | €3,412 | €7,958 | €6,535 | €5,111 | €22,254 | €24,915 | €21,438 | ▼ 14.0% |
| Tangible fixed assets22/27 | €1,200 | €5,746 | €4,322 | €2,899 | €21,529 | €24,190 | €20,713 | ▼ 14.4% |
| Plant, machinery and equipment23 | - | - | €1,699 | €1,256 | €813 | €369 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | €2,623 | €1,643 | €1,063 | €483 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | - | €19,653 | €23,338 | €20,713 | ▼ 11.2% |
| Financial fixed assets28 | €2,212 | €2,212 | €2,212 | €2,212 | €725 | €725 | €725 | = |
| Current assets29/58 | €27,286 | €31,142 | €38,334 | €35,320 | €35,725 | €41,636 | €35,778 | ▼ 14.1% |
| Stocks and contracts in progress3 | €1,211 | €4,980 | €4,713 | €2,512 | €2,742 | €2,742 | €3,249 | ▲ 18.5% |
| Stocks30/36 | - | - | €4,713 | €2,512 | €2,742 | €2,742 | €3,249 | ▲ 18.5% |
| Amounts receivable within one year40/41 | €23,288 | €25,011 | €32,390 | €31,003 | €31,228 | €36,320 | €31,891 | ▼ 12.2% |
| Trade receivables40 | - | - | €31,511 | €26,311 | €26,538 | €28,213 | €26,137 | ▼ 7.4% |
| Other amounts receivable41 | - | - | €879 | €4,692 | €4,690 | €8,107 | €5,755 | ▼ 29.0% |
| Cash at bank and in hand54/58 | €2,272 | €513 | €636 | €1,200 | €1,755 | €1,923 | €3 | ▼ 99.8% |
| Deferred charges and accrued income490/1 | - | - | €595 | €605 | €0 | €651 | €636 | ▼ 2.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €30,699 | €39,100 | €44,869 | €40,431 | €57,979 | €66,551 | €57,217 | ▼ 14.0% |
| Equity10/15 | €11,770 | €23,948 | €23,690 | €22,276 | €22,883 | €29,799 | €26,835 | ▼ 9.9% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €13,179 | €13,179 | €13,179 | €13,179 | €13,179 | €20,095 | €20,095 | = |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | €1,859 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | €1,859 | €0 | - | - |
| Distributable reserves133 | - | - | €11,320 | €11,320 | €11,320 | €20,095 | €20,095 | = |
| Profit (loss) carried forward14 | -€7,609 | €4,569 | €4,311 | €2,897 | €3,504 | €3,504 | €540 | ▼ 84.6% |
| Amounts payable17/49 | €18,928 | €15,151 | €21,179 | €18,156 | €35,096 | €36,753 | €30,382 | ▼ 17.3% |
| Amounts payable after more than one year17 | - | - | - | - | €11,821 | €8,947 | €5,930 | ▼ 33.7% |
| Financial debts170/4 | - | - | - | - | €11,821 | €8,947 | €5,930 | ▼ 33.7% |
| Amounts payable within one year42/48 | €18,928 | €15,151 | €21,179 | €18,156 | €23,276 | €24,776 | €22,322 | ▼ 9.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €2,736 | €2,873 | €3,017 | ▲ 5.0% |
| Financial debts43 | - | - | €4,876 | €4,905 | €4,997 | €4,925 | €4,979 | ▲ 1.1% |
| Credit institutions430/8 | - | - | €4,876 | €4,905 | €4,997 | €4,925 | €4,979 | ▲ 1.1% |
| Trade debts44 | €8,291 | €5,691 | €6,765 | €10,540 | €12,526 | €10,000 | €9,571 | ▼ 4.3% |
| Suppliers440/4 | - | - | €6,765 | €10,540 | €12,526 | €10,000 | €9,571 | ▼ 4.3% |
| Taxes, remuneration and social security45 | - | - | €4,795 | €2,710 | €3,016 | €6,977 | €4,755 | ▼ 31.8% |
| Taxes450/3 | - | - | €955 | €554 | €270 | €4,074 | €2,623 | ▼ 35.6% |
| Remuneration and social security454/9 | - | - | €3,840 | €2,157 | €2,746 | €2,903 | €2,132 | ▼ 26.6% |
| Other amounts payable47/48 | - | - | €4,743 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €3,030 | €2,130 | ▼ 29.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,485 | €12,178 | -€258 | -€1,414 | €607 | €6,916 | -€2,964 | - |
| + Depreciation and write-downs630 | €400 | €571 | €1,423 | €1,423 | €1,523 | €3,430 | €3,477 | ▲ 1.4% |
| Operating cash flow (approximation) | €2,885 | €12,749 | €1,165 | €9 | €2,130 | €10,346 | €513 | ▼ 95.0% |
| Investment in fixed assets (approximation) | - | -€5,116 | €0 | €0 | -€18,665 | -€6,092 | €0 | - |
| Change in cash | - | -€1,759 | €123 | €564 | €556 | €167 | -€1,920 | - |
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, 12,322 companies had the same profile as SINGH has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of SINGH itself is higher: 1.2% within 12 months. It rests on far more data about SINGH than the profile alone.
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 12,322 companies, not a prediction for SINGH. 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.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 16-03-2026 | 2026-00060728 | |
| 30-09-2024 | micro format | 28-04-2025 | 2025-00089429 | |
| 30-09-2023 | micro format | 25-03-2024 | 2024-00055701 | |
| 30-09-2022 | micro format | 03-04-2023 | 2023-00056630 | |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20018873 | |
| 30-09-2020 | micro format | 29-04-2021 | 2021-12600529 | |
| 30-09-2019 | micro format | 29-04-2020 | 2020-10600105 | |
| 30-09-2018 | micro format | 02-04-2019 | 2019-09000160 | |
| 30-09-2017 | micro format | 26-04-2018 | 2018-10900359 | |
| 30-09-2016 | abbreviated format | 24-03-2017 | 2017-07300558 |