Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 3 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Tight liquidity NBB
Cash and receivables cover 17 % of short-term debt in 2024; threshold 65 %.
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Annual account missing NBB
Fiscal year 2025 was expected before 30 April 2026 and has not been filed.
Financials
Financial year 2024
FirstClass from Waregem, company number BE0744470545, closed financial year 2024 with a result of € -78,879 after tax. For that financial year FirstClass recorded a gross margin of € 101,210 and equity of € -133,078. Compared with financial year 2023, the result moved from € -10,001 to € -78,879. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 17, 2025.
€ -133,078
▼ € 78,879 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -78,879
▼ 689 % more loss than in 2023
Profit after tax over the fiscal year.
€ 56,294
▼ 11% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -153,078.
People and assets in 2024
7.2
Average over the fiscal year, from the social balance sheet.
€ 107,064
▼ 32% vs 2023
€ 14,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 30,559
▼ 32% vs 2023
Of which on lease € 17,571.
Debts at end 2024
€ 58,437
▼ 38% vs 2023
€ 27,917 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 66,786
▲ 47% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 27,625
▼ 31% vs 2023
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|
| Gross margin | € 197,070 | € 223,390 | € 101,210 | ▼ 55% |
| Profit after taxes | € -111,390 | € -10,001 | € -78,879 | ▼ € 68,878 |
| Equity | € -44,198 | € -54,199 | € -133,078 | ▼ € 78,879 |
| Total debts | € 851,060 | € 799,305 | € 878,006 | ▲ 10% |
| Cash | € 115,461 | € 63,330 | € 56,294 | ▼ 11% |
| Retained profit | € -64,198 | € -74,199 | € -153,078 | ▼ € 78,879 |
| Bank debt | € 107,314 | € 94,315 | € 58,437 | ▼ 38% |
| Balance sheet total | € 806,862 | € 745,107 | € 744,928 | |
| Employees (FTE) | - | - | 7.2 |
Key figures of FirstClass, fiscal years 2022 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 30 April 2026.
What happened to FirstClass?
What happened at FirstClass in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 78,879. Source: NBB ↗
- LEWIS BEKAERT stepped down as director. NBB
- New establishment in Waregem. KBO
- Start of the company according to the CBE. KBO
In short
From € 111,390 loss in 2022 to € 78,879 loss in 2024.
Paid € 7 in corporate taxes since 2022.
On average € 14,100 of value added per employee in 2024.
Management
Behind FirstClass are MYATT GROUP and THOMAS T'JOLLYN. MYATT GROUP is also behind M&M HOLDING and M&M Cars Group. THOMAS T'JOLLYN is also behind RECUTEX INVEST, RECUTEX and DOUBLE T.
Directors
According to the 2024 annual accounts
LEWIS BEKAERT
Director
· until 2024
Establishments
Establishment units
Physical locations of this company
Zultseweg 234
8790 Waregem
Veldloopstraat 9
8790 Waregem
Active since 12 April 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →RECUTEX INVEST same network
€ 661,605 gross margin · 2025
RECUTEX same network
€ 19.4 million revenue · 2025
TOMMYPENNY
€ 35,679 gross margin · 2025
VLAAMS INZAMEL CENTRUM TEXTIEL
€ 338,501 gross margin · 2025
VICTRANS
€ 2.9 million gross margin · 2025
+1 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0744.470.545
- VAT number
- BE 0744.470.545
- Registered office
- Zultseweg 234, 8790 Waregem
- Names & denominations
- FirstClass
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 26 February 2020
- Peppol
- Active · Active since 23 Sept 2025
- Activities · NACE
Activiteiten van eetgelegenheden met volledige bediening
Groothandel in groenten en fruit, muv consumptieaardappelen
Eetgelegenheden met volledige bediening
Hotels en dergelijke accommodatie
Groothandel in vlees en vleesproducten, uitgezonderd vlees van wild en van gevogelte
Catering van evenementen
Detailhandel in groenten en fruit