Slagerij SSH
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 28-07-2026 at the NBB all 4 filings
Turnover
≈ €1.2m
Estimated: probably between €800,000 and €1.9m
Total assets
€697,220▼ 12.4%
2024 · €796,207
Net result
-€24,984
2024 · €26,718
Working capital
-€102,591▼ 17.1%
2024 · -€87,576
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
-€8,092
2025
20222025
Net result
-€24,984
2025
lowest quarter of the sector
20222025
Equity
-€57,412
▼ 77.0%
2025
lowest quarter of the sector
20222025
Total assets
€697,220
▼ 12.4%
2025
middle half of the sector
20222025
Debt
€754,633
▼ 8.9%
2025
20222025
Working capital
-€102,591
▼ 17.1%
2025
lowest quarter of the sector
20222025
Solvency
-8.2%
▼ 4.2pp
2025
lowest quarter of the sector
20222025
Current ratio
0.33
▲ 0.02
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
-3.6%
▼ 6.9pp
2025
lowest quarter of the sector
20222025
Staff (FTE)
3.7
▲ 15.6%
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€0.01m--€0.1m€0.05m-€0.008m
Net result€0.007mwithin the sector's middle half--€0.1mbelow the sector's middle half€0.03mwithin the sector's middle half-€0.02mbelow the sector's middle half
Equity€0.08mbelow the sector's middle half--€0.06mbelow the sector's middle half-€0.03mbelow the sector's middle half▲ 45.2%-€0.06mbelow the sector's middle half▼ 77.0%
Total assets€1.0mwithin the sector's middle half-€0.9mwithin the sector's middle half▼ 9.0%€0.8mwithin the sector's middle half▼ 12.9%€0.7mwithin the sector's middle half▼ 12.4%
Debt€0.9m-€1.0m▲ 5.5%€0.8m▼ 14.9%€0.8m▼ 8.9%
Working capital-€0.05mbelow the sector's middle half--€0.1mbelow the sector's middle half▼ 104%-€0.09mbelow the sector's middle half▲ 17.0%-€0.1mbelow the sector's middle half▼ 17.1%
Solvency8.1%below the sector's middle half--6.5%below the sector's middle half▼ 14.6pp-4.1%below the sector's middle half▲ 2.4pp-8.2%below the sector's middle half▼ 4.2pp
Current ratio0.58below the sector's middle half-0.30below the sector's middle half▼ 0.290.31below the sector's middle half▲ 0.010.33below the sector's middle half▲ 0.02
Return on assets (ROA)0.7%below the sector's middle half--15.4%below the sector's middle half▼ 16.1pp3.4%within the sector's middle half▲ 18.8pp-3.6%below the sector's middle half▼ 6.9pp
Staff (FTE)4.4within the sector's middle half-4.2within the sector's middle half▼ 4.5%3.2within the sector's middle half▼ 23.8%3.7within the sector's middle half▲ 15.6%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 a loss of €8,092, after a profit of €46,520 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €697,220
Fixed assets
€647,256 ▼ 14.6%
Current assets
€49,965 ▲ 29.7%
Equity and liabilities
Equity-€57,412
Debt€754,633
Equity is negative. Debt (€754,633) exceeds the balance-sheet total (€697,220).
Key figures and ratios
EBITDA
€105,950▼
2024 · €161,317
Cash flow
€89,058▼
2024 · €141,515
Quick ratio
0.21▲
2024 · 0.17
Interest coverage
6.27▼
2024 · 8.14
Debt ≤ 1 year
€152,556▲
2024 · €126,101
Debt > 1 year
€581,591▼
2024 · €688,301
Staff costs
€166,105▲
2024 · €137,139
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 6 | 5 | 6 |
| full-time | 3 | 2 | 1 | 2 |
| part-time | 5 | 4 | 4 | 4 |
| in full-time equivalents | 4.9 | 3.5 | 3.3 | 4.3 |
| Average over the year, in full-time equivalents | 4.4 | 4.2 | 3.2 | 3.7 |
| On a permanent contract | 8 | 6 | 5 | 6 |
| Joined | 15 | 8 | 7 | 6 |
| Left | 7 | 10 | 8 | 5 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €584,015 | €486,423 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €901,472 | €54,217 | €2,238 | €3,656 |
| Intangible fixed assets | €57,050 | - | - | - |
| Financial fixed assets | €10,727 | - | €40 | €0 |
| Depreciation and write-downs of the year | €37,242 | €114,733 | €114,797 | €114,042 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €45,912 awarded · €45,912 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €45,912 |
| 2022 | 1 | €45,912 | €0 |
Schemes
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €25,197 | €350 | ▼ 98.6% |
| Remuneration, social security and pensions62 | €138,405 | €164,102 | €137,139 | €166,105 | ▲ 21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,242 | €114,733 | €114,797 | €114,042 | ▼ 0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €1,045 | - |
| Other operating charges640/8 | €1,507 | €938 | €1,207 | €1,118 | ▼ 7.3% |
| Gross operating margin9900 | €191,703 | €161,457 | €299,662 | €274,218 | ▼ 8.5% |
| Operating profit (loss)9901 | €14,549 | -€118,317 | €46,520 | -€8,092 | - |
| Financial income75/76B | - | - | €10 | €4 | ▼ 61.2% |
| Recurring financial income75 | - | - | €10 | €4 | ▼ 61.2% |
| Financial charges65/66B | €7,752 | €22,627 | €19,812 | €16,896 | ▼ 14.7% |
| Recurring financial charges65 | €7,752 | €22,627 | €19,812 | €16,896 | ▼ 14.7% |
| Profit (loss) for the period before taxes9903 | €6,797 | -€140,943 | €26,718 | -€24,984 | - |
| Profit (loss) for the period9904 | €6,797 | -€140,943 | €26,718 | -€24,984 | - |
| Profit (loss) for the period to be appropriated9905 | €6,797 | -€140,943 | €26,718 | -€24,984 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.0m | €0.9m | €0.8m | €0.7m | ▼ 12.4% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.8m | €0.6m | ▼ 14.6% |
| Intangible fixed assets21 | €0.05m | €0.04m | €0.04m | €0.03m | ▼ 17.1% |
| Tangible fixed assets22/27 | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 14.6% |
| Land and buildings22 | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 13.0% |
| Plant, machinery and equipment23 | €0.1m | €0.08m | €0.06m | €0.04m | ▼ 32.9% |
| Financial fixed assets28 | €0.01m | €0.009m | €0.009m | €0.009m | ▼ 0.4% |
| Current assets29/58 | €0.07m | €0.04m | €0.04m | €0.05m | ▲ 29.7% |
| Stocks and contracts in progress3 | €0.03m | €0.01m | €0.02m | €0.02m | ▲ 6.5% |
| Stocks30/36 | €0.03m | €0.01m | €0.02m | €0.02m | ▲ 6.5% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.005m | €0.002m | ▼ 54.7% |
| Trade receivables40 | €0.003m | €0.02m | €0.005m | €0.002m | ▼ 69.4% |
| Other amounts receivable41 | €0.02m | €0 | €20 | €0.001m | ▲ 37× |
| Cash at bank and in hand54/58 | €0.007m | €0.003m | €0.01m | €0.02m | ▲ 90.7% |
| Deferred charges and accrued income490/1 | €0.01m | €0.01m | €0.007m | €0.01m | ▲ 62.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €0.8m | €0.7m | ▼ 12.4% |
| Equity10/15 | €0.08m | -€0.06m | -€0.03m | -€0.06m | ▼ 77.0% |
| Contributions10/11 | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Reserves13 | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Distributable reserves133 | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Profit (loss) carried forward14 | - | -€0.1m | -€0.1m | -€0.1m | ▼ 21.9% |
| Amounts payable17/49 | €0.9m | €1.0m | €0.8m | €0.8m | ▼ 8.9% |
| Amounts payable after more than one year17 | €0.8m | €0.8m | €0.7m | €0.6m | ▼ 15.5% |
| Financial debts170/4 | €0.8m | €0.8m | €0.7m | €0.6m | ▼ 15.5% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 21.0% |
| Current portion of amounts payable after more than one year42 | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 3.0% |
| Trade debts44 | €0.01m | €0.03m | €0.01m | €0.02m | ▲ 121% |
| Suppliers440/4 | €0.01m | €0.03m | €0.01m | €0.02m | ▲ 121% |
| Taxes, remuneration and social security45 | €0.01m | €0.02m | €0.01m | €0.02m | ▲ 87.1% |
| Taxes450/3 | €136 | €0.002m | €0.001m | €0.002m | ▲ 99.0% |
| Remuneration and social security454/9 | €0.01m | €0.02m | €0.01m | €0.02m | ▲ 85.7% |
| Other amounts payable47/48 | €0.001m | €197 | €0 | - | - |
| Accrued charges and deferred income492/3 | €0.002m | €0.008m | €0.01m | €0.02m | ▲ 43.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,797 | -€140,943 | €26,718 | -€24,984 | - |
| + Depreciation and write-downs630 | €37,242 | €114,733 | €114,797 | €114,042 | ▼ 0.7% |
| Operating cash flow (approximation) | €44,040 | -€26,210 | €141,515 | €89,058 | ▼ 37.1% |
| Investment in fixed assets (approximation) | - | -€52,927 | -€2,278 | -€3,616 | ▼ 58.7% |
| Change in cash | - | -€3,795 | €7,023 | €9,009 | ▲ 28.3% |
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, 1,555 companies had the same profile as Slagerij SSH has now. Two years later, 91.6% were still going and 4.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a small loss
91.6%
was still going
3.6%
stopped otherwise
4.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Slagerij SSH itself: 2.4% 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 1,555 companies, not a prediction for Slagerij SSH. 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.