WHITE CAT
ActiveSummary
WHITE CAT has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€276,504) and a net result of -€56,300. Equity is shrinking by ~29% per year across the filed fiscal years. Its solvency ranks better than 10% of 2467 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability3▲+3
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.23 against 0.23 in 2023; short-term debt: 167.5% and cash: 7.4% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-67.5%
Return on assets
-13.7%
Age of the figures
21 mo
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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€276,504
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-07-2026, 364 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
364 d late
2023
92 d late
2022
121 d late
2021
76 d late
2020
72 d late
2019
78 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 134 days after the deadline; the sector median for financial year 2024 is 4 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€276,504▼ 25.6%
2023 · -€220,204
Total assets
€409,893▲ 28.4%
2023 · €319,116
Net result
-€56,300▲ 11.8%
2023 · -€63,821
Working capital
-€527,905▼ 27.8%
2023 · -€413,010
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€35,913▼ 1,577%-€78,841▼ 120%€3,929-€43,523-€54,724▼ 25.7%
Net result-€45,288below the sector's middle half▼ 1,236%-€88,427below the sector's middle half▼ 95.3%€1,579within the sector's middle half-€63,821below the sector's middle half-€56,300below the sector's middle half▲ 11.8%
Equity-€69,534below the sector's middle half▼ 187%-€157,961below the sector's middle half▼ 127%-€156,382below the sector's middle half▲ 1.0%-€220,204below the sector's middle half▼ 40.8%-€276,504below the sector's middle half▼ 25.6%
Total assets€233,143within the sector's middle half▲ 8.3%€334,511within the sector's middle half▲ 43.5%€282,633within the sector's middle half▼ 15.5%€319,116within the sector's middle half▲ 12.9%€409,893above the sector's middle half▲ 28.4%
Debt€302,677▲ 26.4%€492,472▲ 62.7%€439,015▼ 10.9%€539,319▲ 22.8%€686,397▲ 27.3%
Working capital-€110,630below the sector's middle half▼ 45.1%-€255,550below the sector's middle half▼ 131%-€284,575below the sector's middle half▼ 11.4%-€413,010below the sector's middle half▼ 45.1%-€527,905below the sector's middle half▼ 27.8%
Solvency-29.8%below the sector's middle half▼ 18.6pp-47.2%below the sector's middle half▼ 17.4pp-55.3%below the sector's middle half▼ 8.1pp-69.0%below the sector's middle half▼ 13.7pp-67.5%below the sector's middle half▲ 1.5pp
Current ratio0.63below the sector's middle half▼ 0.050.48below the sector's middle half▼ 0.150.35below the sector's middle half▼ 0.130.23below the sector's middle half▼ 0.120.23below the sector's middle half=
Return on assets (ROA)-19.4%below the sector's middle half▼ 17.8pp-26.4%below the sector's middle half▼ 7.0pp0.6%within the sector's middle half▲ 27.0pp-20.0%below the sector's middle half▼ 20.6pp-13.7%below the sector's middle half▲ 6.3pp
Staff (FTE)4.2within the sector's middle half2.8within the sector's middle half▼ 33.3%3▲ 7.1%
above
within
below
the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €54,724 in 2024 against €43,523 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €409,893
Fixed assets
€251,401 ▲ 30.4%
Current assets
€158,492 ▲ 25.5%
Key figures and ratios
Quick ratio
0.22▲
2023 · 0.21
Debt to equity
-2.48▼
2023 · -2.45
Debt ≤ 1 year
€686,397▲
2023 · €539,319
Staff costs
€69,379▼
2023 · €91,616
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,622 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.6%
went bankrupt
10.0%
stopped otherwise
84%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,622 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,007 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €130,595 | €91,616 | €69,379 | ▼ 24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,834 | €16,383 | €20,429 | €19,329 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | -€32,148 | - |
| Other operating charges640/8 | - | €3,979 | €12,243 | €1,108 | €6,782 | ▲ 512% |
| Gross operating margin9900 | -€19,119 | -€58,479 | €167,195 | €68,530 | -€10,711 | ▼ 116% |
| Operating profit (loss)9901 | -€35,913 | -€78,841 | €3,929 | -€43,523 | -€54,724 | ▼ 25.7% |
| Financial income75/76B | - | €40 | - | €348 | €787 | ▲ 126% |
| Recurring financial income75 | €1 | €40 | - | €348 | €787 | ▲ 126% |
| Financial charges65/66B | - | €3,128 | €2,350 | €20,646 | €2,363 | ▼ 88.6% |
| Recurring financial charges65 | €9,375 | €3,128 | €2,350 | €20,646 | €2,363 | ▼ 88.6% |
| Profit (loss) for the period before taxes9903 | -€45,288 | -€81,928 | €1,579 | -€63,821 | -€56,300 | ▲ 11.8% |
| Income taxes67/77 | - | €6,499 | - | - | - | - |
| Profit (loss) for the period9904 | -€45,288 | -€88,427 | €1,579 | -€63,821 | -€56,300 | ▲ 11.8% |
| Profit (loss) for the period to be appropriated9905 | -€45,288 | -€88,427 | €1,579 | -€63,821 | -€56,300 | ▲ 11.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €233,143 | €334,511 | €282,633 | €319,116 | €409,893 | ▲ 28.4% |
| Fixed assets21/28 | €41,097 | €97,589 | €128,193 | €192,806 | €251,401 | ▲ 30.4% |
| Tangible fixed assets22/27 | €41,097 | €97,589 | €128,193 | €192,806 | €251,401 | ▲ 30.4% |
| Plant, machinery and equipment23 | - | €24,041 | €32,728 | €74,315 | €114,287 | ▲ 53.8% |
| Furniture and vehicles24 | - | €73,376 | €67,763 | €63,305 | €77,985 | ▲ 23.2% |
| Other tangible fixed assets26 | - | €173 | €27,703 | €55,187 | €59,130 | ▲ 7.1% |
| Current assets29/58 | €192,047 | €236,922 | €154,439 | €126,309 | €158,492 | ▲ 25.5% |
| Stocks and contracts in progress3 | €3,347 | €3,347 | €10,410 | €10,360 | €10,360 | = |
| Stocks30/36 | - | €3,347 | €10,410 | €10,360 | €10,360 | = |
| Amounts receivable within one year40/41 | €157,856 | €191,902 | €83,337 | €54,356 | €115,593 | ▲ 113% |
| Trade receivables40 | - | €100,658 | €79,377 | €43,827 | €70,306 | ▲ 60.4% |
| Other amounts receivable41 | - | €91,243 | €3,960 | €10,529 | €45,287 | ▲ 330% |
| Current investments50/53 | €1,587 | €1,587 | €1,587 | €1,587 | €1,587 | = |
| Cash at bank and in hand54/58 | €15,427 | €39,556 | €58,574 | €59,476 | €30,422 | ▼ 48.9% |
| Deferred charges and accrued income490/1 | - | €530 | €530 | €530 | €530 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €233,143 | €334,511 | €282,633 | €319,116 | €409,893 | ▲ 28.4% |
| Equity10/15 | -€69,534 | -€157,961 | -€156,382 | -€220,204 | -€276,504 | ▼ 25.6% |
| Contributions10/11 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €1,252 | €1,252 | €1,252 | €1,252 | €1,252 | = |
| Non-distributable reserves130/1 | - | €1,252 | €1,252 | €1,252 | €1,252 | = |
| Reserves not available under the articles1311 | - | €1,252 | €1,252 | €1,252 | €1,252 | = |
| Profit (loss) carried forward14 | -€100,786 | -€189,213 | -€187,635 | -€251,456 | -€307,756 | ▼ 22.4% |
| Amounts payable17/49 | €302,677 | €492,472 | €439,015 | €539,319 | €686,397 | ▲ 27.3% |
| Amounts payable within one year42/48 | €302,677 | €492,472 | €439,015 | €539,319 | €686,397 | ▲ 27.3% |
| Trade debts44 | €26,158 | €71,533 | €55,733 | - | - | - |
| Suppliers440/4 | - | €71,533 | €55,733 | - | - | - |
| Taxes, remuneration and social security45 | - | €1,668 | €18,452 | €19,504 | €31,946 | ▲ 63.8% |
| Taxes450/3 | - | €1,668 | €6,397 | €19,504 | €29,092 | ▲ 49.2% |
| Remuneration and social security454/9 | - | - | €12,055 | - | €2,854 | - |
| Other amounts payable47/48 | - | €419,271 | €364,829 | €519,815 | €654,451 | ▲ 25.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€45,288 | -€88,427 | €1,579 | -€63,821 | -€56,300 | ▲ 11.8% |
| + Depreciation and write-downs630 | €15,834 | €16,383 | €20,429 | €19,329 | - | - |
| Operating cash flow (approximation) | -€29,454 | -€72,045 | €22,008 | -€44,493 | -€56,300 | ▼ 26.5% |
| Investment in fixed assets (approximation) | - | -€72,875 | -€51,033 | -€83,942 | -€58,595 | ▲ 30.2% |
| Change in cash | - | €24,129 | €19,018 | €901 | -€29,054 | ▼ 3,323% |
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
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 364 days late
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 92 days late
2023
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 121 days late
2022
31-12
Financial
Back to profitnet €1,579
Net result €1,579 after 3 loss-making years.
15-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 76 days late
2021
31-12
Financial
Weakest financial yearnet -€88,427
Net result drops to -€88,427, the lowest in the series; recovery starts the following year.
11-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 72 days late
2020
17-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 78 days late
16-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 321 days late
16-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 686 days late
2018
17-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 443 days late
12-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 530 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Gent · 2 establishment units since 2006
Ground area
630 m²
Building footprint
604 m²
Volume, LiDAR
7,039 m³
2 parcels, Flanders · tallest building 21.5 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
White Cat
since 20062.153.474.234
Velvet
since 20212.316.455.119
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D2537/00K005 ProtectedMonument · Townscape or village viewNeoclassicistisch huizenblok: burgerhuis (gevel en dak)Source ↗ |
Flanders | 383 m² | 1 · 358 m² | 21.5 m · 2 fl. |
| 44021A0783/00A000 | Flanders | 247 m² | 1 · 246 m² | 17.2 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
2 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesGent2.153.474.234
Gent2.316.455.119
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 641 companies in sector 90312 we hold annual accounts for 227. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-02-2006
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
90312Arts creation and performing arts activities
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
93299Other amusement and recreation activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879577786
Also
9925:BE0879577786
Registered
02-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.