SINGHA
ActiveFinancials · financial year 2026, abbreviated format
2026 annual accounts filed 39 days after the deadline Filed on 9 October 2026, deadline 31 August 2026 (7 months after the close on 31 January 2026, Companies Code art. 3:10). Source: NBB, 2026-00552140.
Annual accounts 2026 filed on 09-10-2026 at the NBB all 31 filings
Turnover
≈ €190,000
Estimated: probably between €110,000 and €460,000
Total assets
€15,194▼ 47.9%
2025 · €29,164
Net result
-€13,669▼ 383%
2025 · -€2,831
Working capital
€6,484▼ 68.9%
2025 · €20,817
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€13,594
▼ 401%
2026
20192026
Net result
-€13,669
▼ 383%
2026
20192026
Equity
€9,324
▼ 59.4%
2026
20192026
Total assets
€15,194
▼ 47.9%
2026
20192026
Debt
€5,870
▼ 4.9%
2026
20192026
Working capital
€6,484
▼ 68.9%
2026
20192026
Solvency
61.4%
▼ 17.5pp
2026
20192026
Current ratio
2.10
▼ 2.27
2026
20192026
Return on assets (ROA)
-90.0%
▼ 80.3pp
2026
20192026
Staff (FTE)
2
=
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€32,981-€28,875▼ 12.4%€3,861▼ 86.6%€29,078▲ 653%-€6,165-€14,694▼ 138%-€2,715▲ 81.5%-€13,594▼ 401%
Net result€21,058-€20,255▼ 3.8%€3,419within the sector's middle half▼ 83.1%€27,048above the sector's middle half▲ 691%-€6,402within the sector's middle half-€14,910below the sector's middle half▼ 133%-€2,831within the sector's middle half▲ 81.0%-€13,669▼ 383%
Equity-€3,586-€16,669€20,088within the sector's middle half▲ 20.5%€47,136within the sector's middle half▲ 135%€40,734within the sector's middle half▼ 13.6%€25,824within the sector's middle half▼ 36.6%€22,992within the sector's middle half▼ 11.0%€9,324▼ 59.4%
Total assets€55,662-€56,957▲ 2.3%€41,616below the sector's middle half▼ 26.9%€73,409within the sector's middle half▲ 76.4%€57,774within the sector's middle half▼ 21.3%€32,155below the sector's middle half▼ 44.3%€29,164below the sector's middle half▼ 9.3%€15,194▼ 47.9%
Debt€59,247-€40,288▼ 32.0%€21,528▼ 46.6%€26,272▲ 22.0%€17,040▼ 35.1%€6,331▼ 62.8%€6,172▼ 2.5%€5,870▼ 4.9%
Working capital€3,441--€6,628€2,608within the sector's middle half€35,348within the sector's middle half▲ 14×€33,330within the sector's middle half▼ 5.7%€22,762within the sector's middle half▼ 31.7%€20,817within the sector's middle half▼ 8.5%€6,484▼ 68.9%
Solvency-6.4%-29.3%▲ 35.7pp48.3%within the sector's middle half▲ 19.0pp64.2%above the sector's middle half▲ 15.9pp70.5%above the sector's middle half▲ 6.3pp80.3%above the sector's middle half▲ 9.8pp78.8%above the sector's middle half▼ 1.5pp61.4%▼ 17.5pp
Current ratio1.09-0.83▼ 0.261.12within the sector's middle half▲ 0.292.35above the sector's middle half▲ 1.222.96above the sector's middle half▲ 0.614.60above the sector's middle half▲ 1.644.37above the sector's middle half▼ 0.222.10▼ 2.27
Return on assets (ROA)37.8%-35.6%▼ 2.3pp8.2%within the sector's middle half▼ 27.3pp36.8%above the sector's middle half▲ 28.6pp-11.1%below the sector's middle half▼ 47.9pp-46.4%below the sector's middle half▼ 35.3pp-9.7%below the sector's middle half▲ 36.7pp-90.0%▼ 80.3pp
Staff (FTE)0.9-1.2▲ 33.3%2.32▼ 13.0%2=2=2=
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 2026 is a loss of €13,594, larger than the loss of €2,715 in 2025.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €15,194
Fixed assets
€2,840 ▲ 30.5%
Current assets
€12,354 ▼ 54.2%
Equity and liabilities €15,194
Equity
€9,324 ▼ 59.4%
Debt
€5,870 ▼ 4.9%
Debt's share of the balance-sheet total rises from 21.2% to 38.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€12,558▼
2025 · -€1,829
Cash flow
-€12,633▼
2025 · -€1,945
Quick ratio
1.85▼
2025 · 4.25
Debt to equity
0.63▲
2025 · 0.27
ROE
-146.6%▼
2025 · -12.3%
Interest coverage
-166.38▼
2025 · -6.93
Debt ≤ 1 year
€5,870▼
2025 · €6,172
Staff costs
€35,052▼
2025 · €37,682
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-01-2022 | 31-01-2023 | 31-01-2024 | 31-01-2025 | 31-01-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 | 2 |
| part-time | 2 | 2 | 2 | 2 | 2 |
| in full-time equivalents | 1.1 | 1.2 | 1.2 | 1.2 | 1.2 |
| Average over the year, in full-time equivalents | 1.1 | 1.2 | 1.2 | 1.2 | 1.2 |
| On a permanent contract | 2 | 2 | 2 | 2 | 2 |
| Joined | 2 | 4 | - | - | - |
| Left | 2 | 4 | - | - | - |
Source: social balance sheet in the 2022 to 2026 annual accounts
Investments
| Item | 31-01-2022 | 31-01-2023 | 31-01-2024 | 31-01-2025 | 31-01-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,120 | - | - | - | €1,700 |
| Depreciation and write-downs of the year | €6,812 | €4,384 | €4,343 | €886 | €1,036 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €13,236 | €26,532 | €33,749 | €37,682 | €35,052 | ▼ 7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,443 | €6,206 | €6,817 | €6,812 | €4,384 | €4,343 | €886 | €1,036 | ▲ 16.9% |
| Other operating charges640/8 | - | - | - | €790 | €857 | €914 | €686 | €1,205 | ▲ 75.8% |
| Gross operating margin9900 | €60,624 | €70,319 | €30,256 | €49,917 | €25,608 | €24,312 | €36,539 | €23,699 | ▼ 35.1% |
| Operating profit (loss)9901 | €32,981 | €28,875 | €3,861 | €29,078 | -€6,165 | -€14,694 | -€2,715 | -€13,594 | ▼ 401% |
| Financial income75/76B | - | - | - | - | €2 | €0 | €147 | €1 | ▼ 99.3% |
| Recurring financial income75 | €2,000 | - | €2 | - | €2 | €0 | €147 | €1 | ▼ 99.3% |
| Financial charges65/66B | - | - | - | €353 | €240 | €216 | €264 | €75 | ▼ 71.4% |
| Recurring financial charges65 | €1,218 | €666 | €396 | €353 | €240 | €216 | €264 | €75 | ▼ 71.4% |
| Profit (loss) for the period before taxes9903 | €33,762 | €28,209 | €3,468 | €28,726 | -€6,402 | -€14,910 | -€2,831 | -€13,669 | ▼ 383% |
| Income taxes67/77 | €12,704 | €7,954 | €49 | €1,677 | - | - | - | - | - |
| Profit (loss) for the period9904 | €21,058 | €20,255 | €3,419 | €27,048 | -€6,402 | -€14,910 | -€2,831 | -€13,669 | ▼ 383% |
| Profit (loss) for the period to be appropriated9905 | €21,058 | €20,255 | €3,419 | €27,048 | -€6,402 | -€14,910 | -€2,831 | -€13,669 | ▼ 383% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €55,662 | €56,957 | €41,616 | €73,409 | €57,774 | €32,155 | €29,164 | €15,194 | ▼ 47.9% |
| Fixed assets21/28 | €13,974 | €24,297 | €17,480 | €11,788 | €7,404 | €3,062 | €2,176 | €2,840 | ▲ 30.5% |
| Tangible fixed assets22/27 | €12,833 | €23,157 | €16,340 | €10,648 | €6,264 | €1,921 | €1,035 | €1,699 | ▲ 64.1% |
| Plant, machinery and equipment23 | - | - | - | €1,845 | €1,314 | €825 | €487 | €149 | ▼ 69.4% |
| Furniture and vehicles24 | - | - | - | €6,612 | €3,306 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €2,192 | €1,644 | €1,096 | €548 | €1,550 | ▲ 183% |
| Financial fixed assets28 | €1,140 | €1,140 | €1,140 | €1,140 | €1,140 | €1,140 | €1,140 | €1,140 | = |
| Current assets29/58 | €41,688 | €32,660 | €24,136 | €61,620 | €50,370 | €29,093 | €26,989 | €12,354 | ▼ 54.2% |
| Stocks and contracts in progress3 | €1,727 | €1,639 | €518 | €906 | €906 | €858 | €752 | €1,477 | ▲ 96.4% |
| Stocks30/36 | - | - | - | €906 | €906 | €858 | €752 | €1,477 | ▲ 96.4% |
| Amounts receivable within one year40/41 | €5,048 | €1,217 | €3,670 | - | €8 | €4,452 | €6,689 | €3,875 | ▼ 42.1% |
| Trade receivables40 | - | - | - | - | - | €849 | €2,891 | - | - |
| Other amounts receivable41 | - | - | - | - | €8 | €3,603 | €3,798 | €3,875 | ▲ 2.0% |
| Cash at bank and in hand54/58 | €34,913 | €29,805 | €19,948 | €60,714 | €49,456 | €23,784 | €19,548 | €7,002 | ▼ 64.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €55,662 | €56,957 | €41,616 | €73,409 | €57,774 | €32,155 | €29,164 | €15,194 | ▼ 47.9% |
| Equity10/15 | -€3,586 | €16,669 | €20,088 | €47,136 | €40,734 | €25,824 | €22,992 | €9,324 | ▼ 59.4% |
| Contributions10/11 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Capital10 | - | - | - | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Issued capital100 | - | - | - | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Profit (loss) carried forward14 | -€77,954 | -€57,699 | -€54,280 | -€27,232 | -€33,634 | -€48,544 | -€51,376 | -€65,044 | ▼ 26.6% |
| Amounts payable17/49 | €59,247 | €40,288 | €21,528 | €26,272 | €17,040 | €6,331 | €6,172 | €5,870 | ▼ 4.9% |
| Amounts payable after more than one year17 | €21,000 | €1,000 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €38,247 | €39,288 | €21,528 | €26,272 | €17,040 | €6,331 | €6,172 | €5,870 | ▼ 4.9% |
| Trade debts44 | €8,979 | €15,907 | €12,612 | €3,224 | €7,960 | €1,426 | €1,453 | €1,523 | ▲ 4.8% |
| Suppliers440/4 | - | - | - | €3,224 | €7,960 | €1,426 | €1,453 | €1,523 | ▲ 4.8% |
| Taxes, remuneration and social security45 | - | - | - | €5,495 | €4,676 | €4,905 | €4,718 | €4,347 | ▼ 7.9% |
| Taxes450/3 | - | - | - | €4,118 | €2,540 | €2,178 | €1,717 | €1,633 | ▼ 4.9% |
| Remuneration and social security454/9 | - | - | - | €1,377 | €2,136 | €2,727 | €3,001 | €2,714 | ▼ 9.6% |
| Other amounts payable47/48 | - | - | - | €17,554 | €4,405 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,058 | €20,255 | €3,419 | €27,048 | -€6,402 | -€14,910 | -€2,831 | -€13,669 | ▼ 383% |
| + Depreciation and write-downs630 | €4,443 | €6,206 | €6,817 | €6,812 | €4,384 | €4,343 | €886 | €1,036 | ▲ 16.9% |
| Operating cash flow (approximation) | €25,501 | €26,461 | €10,236 | €33,860 | -€2,018 | -€10,567 | -€1,945 | -€12,633 | ▼ 549% |
| Investment in fixed assets (approximation) | - | -€16,529 | €0 | -€1,120 | €0 | €0 | -€0 | -€1,700 | ▼ 4,249,900% |
| Change in cash | - | -€5,108 | -€9,857 | €40,767 | -€11,259 | -€25,672 | -€4,236 | -€12,546 | ▼ 196% |
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, 5,831 companies had the same profile as SINGHA has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SINGHA itself: 0.6% 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 5,831 companies, not a prediction for SINGHA. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-01-2026 | abbreviated format | 09-10-2026 | 2026-00552140 | |
| 31-01-2025 | micro format | 27-09-2025 | 2025-00506760 | |
| 31-01-2024 | micro format | 23-09-2024 | 2024-00467912 | |
| 31-01-2023 | micro format | 06-09-2023 | 2023-00435774 | |
| 31-01-2022 | micro format | 30-08-2022 | 2022-20344246 | |
| 31-01-2021 | micro format | 03-09-2021 | 2021-65500299 | |
| 31-01-2020 | micro format | 15-09-2020 | 2020-53400129 | |
| 31-01-2019 | micro format | 07-10-2019 | 2019-68700324 | |
| 31-01-2018 | micro format | 25-09-2018 | 2018-64700024 | |
| 31-01-2017 | micro format | 30-12-2017 | 2017-73600190 |