Eén sterrenrestaurant boekte 1,2 miljoen euro winst, maar hoe doen de anderen het? | De Morgen

Financial Health of Belgian Michelin-Starred Restaurants

A recent analysis by GraydonCreditsafe examined the financial performance of 100 top restaurants in Flanders and Brussels, including those with Michelin stars and high Gault&Millau scores. The study reveals a mixed picture: 80% of these restaurants are profitable, collectively generating €7 million in profit, while 20% incurred losses totaling almost €4 million.

Liquidity and Debt

Further analysis indicates that 50% of the restaurants have a weak liquidity position, with 25% facing significant issues in paying short-term debts. Additionally, 25% have excessive debt levels, while 10% exhibit alarmingly high debt-to-asset ratios. Consequently, 10-20% of the top restaurants are considered to be in serious trouble and risk closure.

Shock Resilience

The analysis introduced a 'Podscore', measuring financial health and resilience to economic shocks. The study found that:

• 11% exhibit moderate financial health and shock resilience.
• Slightly more than a third possess sufficient reserves to weather unforeseen shocks.
• About 40% are operationally healthy but lack shock resilience.

A third of the restaurants excel in both Podscore and shock resilience, with establishments like Bartholomeus and Dôme leading the pack. However, 11% struggle significantly, and another 6% face dire circumstances. Notably, 40% of seemingly healthy restaurants lack sufficient reserves to handle economic shocks, highlighting a critical area for attention.