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VDB SIMBA

Active
Private limited company (pre-2019)founded 2006active for 19 yearsKerkvoetweg(Bis) 42, 8501 Kortrijk, BelgiumKBO/BCE: BE 0885.828.744

Financials · financial year 2025, micro format

2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00497022.

Annual accounts 2025 filed on 31-08-2026 at the NBB all 19 filings

Turnover
≈ €190,000
Estimated: probably between €130,000 and €230,000
Total assets
€442,360▼ 5.5%
2024 · €468,221
Net result
€9,525▼ 68.7%
2024 · €30,459
Working capital
-€66,781▼ 3.9%
2024 · -€64,273
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 63% lower than in 2024 and the lowest since 2021.

Operating result€13,864 2025 Net result€9,525 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result-€12,641--€3,290▲ 74.0%€34,330€34,305▼ 0.1%€37,751▲ 10.0%€35,026▼ 7.2%€37,473▲ 7.0%€13,864▼ 63.0%
Net result-€18,627--€11,301▲ 39.3%€27,843above the sector's middle half€28,456within the sector's middle half▲ 2.2%€32,571above the sector's middle half▲ 14.5%€27,705above the sector's middle half▼ 14.9%€30,459above the sector's middle half▲ 9.9%€9,525within the sector's middle half▼ 68.7%
Equity€874--€10,426€17,417within the sector's middle half€45,873within the sector's middle half▲ 163%€78,444within the sector's middle half▲ 71.0%€106,149above the sector's middle half▲ 35.3%€136,609above the sector's middle half▲ 28.7%€146,133above the sector's middle half▲ 7.0%
Total assets€455,806-€425,721▼ 6.6%€436,345above the sector's middle half▲ 2.5%€441,921above the sector's middle half▲ 1.3%€451,045above the sector's middle half▲ 2.1%€456,274above the sector's middle half▲ 1.2%€468,221above the sector's middle half▲ 2.6%€442,360above the sector's middle half▼ 5.5%
Debt€454,931-€436,147▼ 4.1%€418,928▼ 3.9%€396,048▼ 5.5%€372,601▼ 5.9%€350,124▼ 6.0%€331,612▼ 5.3%€296,227▼ 10.7%
Working capital-€173,367--€183,052▼ 5.6%-€152,078below the sector's middle half▲ 16.9%-€130,745below the sector's middle half▲ 14.0%-€104,924below the sector's middle half▲ 19.7%-€86,949below the sector's middle half▲ 17.1%-€64,273below the sector's middle half▲ 26.1%-€66,781below the sector's middle half▼ 3.9%
Solvency0.2%--2.4%▼ 2.6pp4.0%within the sector's middle half▲ 6.4pp10.4%within the sector's middle half▲ 6.4pp17.4%within the sector's middle half▲ 7.0pp23.3%within the sector's middle half▲ 5.9pp29.2%within the sector's middle half▲ 5.9pp33.0%within the sector's middle half▲ 3.9pp
Current ratio0.14-0.08▼ 0.060.21below the sector's middle half▲ 0.120.30below the sector's middle half▲ 0.090.42below the sector's middle half▲ 0.120.51within the sector's middle half▲ 0.090.64within the sector's middle half▲ 0.130.59within the sector's middle half▼ 0.05
Return on assets (ROA)-4.1%--2.7%▲ 1.4pp6.4%within the sector's middle half▲ 9.0pp6.4%within the sector's middle half▲ 0.1pp7.2%within the sector's middle half▲ 0.8pp6.1%within the sector's middle half▼ 1.1pp6.5%within the sector's middle half▲ 0.4pp2.2%within the sector's middle half▼ 4.4pp
Staff (FTE)0.4-0.8▲ 100%0.1
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.
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 €442,360
Fixed assets €346,492 ▼ 2.2%
Current assets €95,868 ▼ 15.9%
Equity and liabilities €442,360
Equity €146,133 ▲ 7.0%
Debt €296,227 ▼ 10.7%
Debt's share of the balance-sheet total falls from 70.8% to 67.0%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€25,461▼
2024 · €48,960
Cash flow
€21,123▼
2024 · €41,946
Debt to equity
2.03▼
2024 · 2.43
ROE
6.5%▼
2024 · 22.3%
Interest coverage
5.88▼
2024 · 10.21
Debt ≤ 1 year
€162,649▼
2024 · €178,270
Debt > 1 year
€133,578▼
2024 · €153,342
Income taxes
€905▼
2024 · €3,000
Staff costs
€2,827
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-2025
Employees at the balance-sheet date1
full-time1
part-time0
in full-time equivalents1
Average over the year, in full-time equivalents0.1
Joined1
Left0

Source: social balance sheet in the 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20212022202320242025
Mortgages, amount registered€292,000€292,000€292,000€292,000€292,000
Carrying value of the mortgaged assets€381,583€371,009€360,435€349,860€339,286

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€956-€2,737-€3,866
Financial fixed assets----€0
Depreciation and write-downs of the year€11,694€11,568€11,783€11,487€11,598

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Subsidies and aid

Flemish government

2022 to 2025 · 4 entries · €101,200 awarded · €101,200 paid
Year Entries AwardedPaid
2025 1 €14,960€14,960
2024 1 €28,800€28,800
2023 1 €28,640€28,640
2022 1 €28,800€28,800
Schemes
4 entries · €101,200 · €101,200 paid · Fonds voor Innoveren en Ondernemen

Comparable companies

These companies have the same main activity as VDB SIMBA: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €361,000 and €609,000, founded between 2003 and 2009.

CompanyFoundedTotal assetsEquityGross marginNet resultFinancial year
VDB SIMBA Kortrijk2006€442,360€146,133€31,949€9,5252025
BMCF Etterbeek2009€423,406€288,786€34,673-€23,3352025
POLDERSITE Alveringem2003€609,326€509,188€34,649€11,0462025
SERA HORECA Pepingen2007€494,847€119,963€25,378-€12,6012025
BOULDERZAAL CITY LIZARD Sint-Niklaas2007€408,072€36,448€41,425€22,8552025
THINK MORE Landen2008€377,820€42,425€26,913€3,2362025
BELMO Dendermonde2004€361,084€256,066€32,704-€7,2862025

They were chosen from the 10,326 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 10,904 companies had the same profile as VDB SIMBA has now. Two years later, 0.7% had gone bankrupt and 95.2% were still going.

  • Micro
  • 10 to 20 years old
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.7% went bankrupt
4.0% stopped otherwise
95.2% was still going

That fits the bankruptcy probability of VDB SIMBA itself: 0.9% within 12 months.

Test of the method

The method was tested on the 497,445 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 10,904 companies, not a prediction for VDB SIMBA. 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines

Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.

Balance sheet Code20242025
Assets
Total assets20/58€468,221€442,360▼
Fixed assets21/28€354,224€346,492▼
Tangible fixed assets22/27€350,795€343,064▼
Land and buildings22€349,860€339,286▼
Furniture and vehicles24€935€23▼
Other tangible fixed assets26-€3,755
Financial fixed assets28€3,428€3,428=
Current assets29/58€113,997€95,868▼
Amounts receivable within one year40/41€47,434€50,789▲
Trade receivables40€6,816€2,357▼
Other amounts receivable41€40,618€48,433▲
Cash at bank and in hand54/58€66,563€43,157▼
Deferred charges and accrued income490/1-€1,922
Equity and liabilities
Total equity and liabilities10/49€468,221€442,360▼
Equity10/15€136,609€146,133▲
Contributions10/11€12,400€12,400=
Reserves13€59,360€68,360▲
Non-distributable reserves130/1€1,860€1,860=
Reserves not available under the articles1311€1,860€1,860=
Distributable reserves133€57,500€66,500▲
Profit (loss) carried forward14€64,849€65,373▲
Amounts payable17/49€331,612€296,227▼
Amounts payable after more than one year17€153,342€133,578▼
Financial debts170/4€153,342€133,578▼
Amounts payable within one year42/48€178,270€162,649▼
Current portion of amounts payable after more than one year42€19,270€19,764▲
Trade debts44€602€2,753▲
Suppliers440/4€602€2,753▲
Taxes, remuneration and social security45€3,000€2,921▼
Taxes450/3€3,000€900▼
Remuneration and social security454/9-€2,021
Other amounts payable47/48€155,398€137,211▼
Income statement Code20242025
Remuneration, social security and pensions62-€2,827
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11,487€11,598▲
Other operating charges640/8€3,146€3,661▲
Gross operating margin9900€52,105€31,949▼
Operating profit (loss)9901€37,473€13,864▼
Financial income75/76B€782€898▲
Recurring financial income75€782€898▲
Financial charges65/66B€4,796€4,332▼
Recurring financial charges65€4,796€4,332▼
Profit (loss) for the period before taxes9903€33,459€10,430▼
Income taxes67/77€3,000€905▼
Profit (loss) for the period9904€30,459€9,525▼
Profit (loss) for the period to be appropriated9905€30,459€9,525▼
Appropriation of the result
Profit (loss) to be appropriated9906€94,849€74,373▼
Profit (loss) brought forward from the previous period14P€64,389€64,849▲
Transfer to equity691/2€30,000€9,000▼
To other reserves6921€30,000€9,000▼

The notes to these accounts have 16 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Remuneration, social security and pensions62-------€2,827-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21,891€21,933€11,919€11,694€11,568€11,783€11,487€11,598▲ 1.0%
Other operating charges640/8---€2,909€5,002€3,241€3,146€3,661▲ 16.4%
Gross operating margin9900€56,155€36,458€46,585€48,907€54,321€50,050€52,105€31,949▼ 38.7%
Operating profit (loss)9901-€12,641-€3,290€34,330€34,305€37,751€35,026€37,473€13,864▼ 63.0%
Financial income75/76B---€308€549€675€782€898▲ 14.8%
Recurring financial income75€174€435€1€308€549€675€782€898▲ 14.8%
Financial charges65/66B---€6,156€5,729€5,246€4,796€4,332▼ 9.7%
Recurring financial charges65€7,236€8,298€6,462€6,156€5,729€5,246€4,796€4,332▼ 9.7%
Profit (loss) for the period before taxes9903-€18,144-€11,153€27,869€28,456€32,571€30,455€33,459€10,430▼ 68.8%
Income taxes67/77€483€148€26--€2,750€3,000€905▼ 69.8%
Profit (loss) for the period9904-€18,627-€11,301€27,843€28,456€32,571€27,705€30,459€9,525▼ 68.7%
Profit (loss) for the period to be appropriated9905-€18,627-€11,301€27,843€28,456€32,571€27,705€30,459€9,525▼ 68.7%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€455,806€425,721€436,345€441,921€451,045€456,274€468,221€442,360▼ 5.5%
Fixed assets21/28€427,774€408,980€397,062€386,324€374,756€365,710€354,224€346,492▼ 2.2%
Tangible fixed assets22/27€424,349€405,552€393,634€382,896€371,328€362,282€350,795€343,064▼ 2.2%
Land and buildings22---€381,583€371,009€360,435€349,860€339,286▼ 3.0%
Plant, machinery and equipment23---€174€0----
Furniture and vehicles24---€637€319€1,847€935€23▼ 97.6%
Other tangible fixed assets26---€502€0--€3,755-
Financial fixed assets28€3,425€3,428€3,428€3,428€3,428€3,428€3,428€3,428=
Current assets29/58€28,031€16,741€39,283€55,597€76,289€90,563€113,997€95,868▼ 15.9%
Stocks and contracts in progress3€2,626--------
Amounts receivable within one year40/41€14,610€2,399€18,340€25,879€37,421€41,546€47,434€50,789▲ 7.1%
Trade receivables40---€213€7,679€3,152€6,816€2,357▼ 65.4%
Other amounts receivable41---€25,665€29,741€38,394€40,618€48,433▲ 19.2%
Cash at bank and in hand54/58€10,794€11,883€19,307€29,556€38,869€49,017€66,563€43,157▼ 35.2%
Deferred charges and accrued income490/1---€163€0--€1,922-
Equity and liabilities
Total equity and liabilities10/49€455,806€425,721€436,345€441,921€451,045€456,274€468,221€442,360▼ 5.5%
Equity10/15€874-€10,426€17,417€45,873€78,444€106,149€136,609€146,133▲ 7.0%
Contributions10/11€12,400€12,400-€12,400€12,400€12,400€12,400€12,400=
Reserves13€1,860€1,860€1,860€1,860€1,860€29,360€59,360€68,360▲ 15.2%
Non-distributable reserves130/1---€1,860€1,860€1,860€1,860€1,860=
Reserves not available under the articles1311---€1,860€1,860€1,860€1,860€1,860=
Distributable reserves133-----€27,500€57,500€66,500▲ 15.7%
Profit (loss) carried forward14-€13,386-€24,686€3,157€31,613€64,184€64,389€64,849€65,373▲ 0.8%
Amounts payable17/49€454,931€436,147€418,928€396,048€372,601€350,124€331,612€296,227▼ 10.7%
Amounts payable after more than one year17€253,533€236,354€227,567€209,706€191,388€172,612€153,342€133,578▼ 12.9%
Financial debts170/4---€209,706€191,388€172,612€153,342€133,578▼ 12.9%
Amounts payable within one year42/48€201,398€199,793€191,361€186,342€181,213€177,513€178,270€162,649▼ 8.8%
Current portion of amounts payable after more than one year42---€17,861€18,319€18,776€19,270€19,764▲ 2.6%
Trade debts44€5,356€2,946€2,367-€908€589€602€2,753▲ 357%
Suppliers440/4----€908€589€602€2,753▲ 357%
Taxes, remuneration and social security45---€220€0€2,750€3,000€2,921▼ 2.6%
Taxes450/3---€220€0€2,750€3,000€900▼ 70.0%
Remuneration and social security454/9-------€2,021-
Other amounts payable47/48---€168,261€161,987€155,398€155,398€137,211▼ 11.7%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€18,627-€11,301€27,843€28,456€32,571€27,705€30,459€9,525▼ 68.7%
+ Depreciation and write-downs630€21,891€21,933€11,919€11,694€11,568€11,783€11,487€11,598▲ 1.0%
Operating cash flow (approximation)€3,264€10,632€39,761€40,150€44,139€39,488€41,946€21,123▼ 49.6%
Investment in fixed assets (approximation)--€3,138€0-€956€0-€2,737€0-€3,866-
Change in cash-€1,089€7,423€10,249€9,313€10,149€17,545-€23,406-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 19 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 31-08-2026 2026-00497022 NBB
31-12-2024 micro format 31-08-2025 2025-00452637 PDF
31-12-2023 micro format 14-08-2024 2024-00343807 PDF
31-12-2022 micro format 31-08-2023 2023-00436856 PDF
31-12-2021 micro format 21-06-2022 2022-20097503 PDF
31-12-2020 micro format 24-08-2021 2021-54600468 PDF
31-12-2019 micro format 17-08-2020 2020-41600314 PDF
31-12-2018 micro format 11-06-2019 2019-17500429 PDF
31-12-2017 micro format 19-07-2018 2018-35800004 PDF
31-12-2016 abbreviated format 06-06-2017 2017-15700513 PDF

Show all 19 filings

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