Equity
€79,903 ▲ 30.0%
AZ-SA has made a profit in every financial year since 2018.
AZ-SA
Lifetime
8 annual accounts with figures on one time axispeak €58,714 (2023)
€12,341▲ 727%
peak €18,420 (2025)
€18,420▲ 241%
peak €79,903 (2025)
€79,903▲ 30.0%
€17,501▼ 37.0%
Board6 names since 2017
2 directorsZEGHMICHE Azzedine and 1 other
Documentsfilings and deeds
28-10-202689 days late
2025abbreviated format
Gross margin from €1,492 to €12,341Result from €5,404 to €18,420Equity from €61,483 to €79,903Debts from €27,793 to €17,501Cash from €1,287 to €10,248
Key points
from the 2025 annual accountsFilings
8 annual accounts 89 days
Latest accounts filed late: after the legal deadline.
Position in the sector
82.0%
Higher solvency than 90% of companies in retail trade. Sector median 36.6% · 12,856 companies.
Checked score
65
Healthy
Financially stronger than 60% of micro companies in retail trade (NACE 47)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.5% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,275 companies (NACE 47, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.7%
01-2025: 1.7%● unchanged vs 12-2024
02-2025: 1.7%● unchanged vs 01-2025
03-2025: 1.9%▲ +0.2 percentage points vs 02-2025
04-2025: 1.9%● unchanged vs 03-2025
05-2025: 1.9%● unchanged vs 04-2025
06-2025: 1.8%▼ -0.1 percentage points vs 05-2025
07-2025: 1.8%● unchanged vs 06-2025
08-2025: 2.7%▲ +0.9 percentage points vs 07-2025
09-2025: 2.0%▼ -0.7 percentage points vs 08-2025
10-2025: 2.0%● unchanged vs 09-2025
11-2025: 2.0%● unchanged vs 10-2025
12-2025: 2.0%● unchanged vs 11-2025
01-2026: 2.0%● unchanged vs 12-2025
02-2026: 1.8%▼ -0.2 percentage points vs 01-2026
03-2026: 1.8%● unchanged vs 02-2026
04-2026: 1.8%● unchanged vs 03-2026
05-2026: 1.7%▼ -0.1 percentage points vs 04-2026
06-2026: 1.6%▼ -0.1 percentage points vs 05-2026
07-2026: 1.6%● unchanged vs 06-2026
08-2026: 2.0%▲ +0.4 percentage points vs 07-2026
09-2026: 2.4%▲ +0.4 percentage points vs 08-2026
10-2026: 4.1%▲ +1.7 percentage points vs 09-2026highest value
11-2026: 1.5%▼ -2.6 percentage points vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 89 days late; 2 of the last 3 accounts late
Size: turnover €70,026, total assets €97,404
lowers risk
Equity €79,903 (82.0% of total assets)
Liquidity: current ratio 5.57, cash €10,248
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 92% of them on solvency, 65% on liquidity, 24% on profitability and 59% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 26,972 companies had the same profile as AZ-SA has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AZ-SA itself: 1.5% within 12 months.
Test of the method
The method was tested on the 497,447 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 26,972 companies, not a prediction for AZ-SA. 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.
Credit verdict
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.57 (3.79 in 2024), above the usual 1.5. Short-term debt is 18% and cash 10.5% of total assets. 18% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 89 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-10-2026, 89 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 8 filingsDeviation from the deadline
2025
89 days late
2024
29 days late
2023
58 days late
2022
13 days late
2021
73 days late
2020
88 days late
2019
143 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 70 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0685889176
Resignation: SHYAKA Aimé Claudien (director)
Appointment: GUSTAVO Carlos (director) · General meeting of 21-02-2024 · Gazette deed
Resignation: Hatem Ben Belgacem (director)
Appointment: Shyaka Aimé Claudien (director) · General meeting of 21-02-2024 · Gazette deed
Transfer of 50 shares from ARBAOUI Samia to ZEGHMICHE Azzedine
Resignation: ARBAOUI Samia (director) · General meeting of 24-01-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AZ-SA Auderghem | €97,404 | €12,341 | 82.0% | - |
| Fralien Diepenbeek | €132,414 | €10,381 | 34.6% | - |
| LA PETITE BRIOCHE Watermael-Boitsfort | €101,216 | €19,889 | 52.6% | - |
| SUP'R Beloeil | €121,865 | €9,572 | 20.6% | - |
| LUMATOF Marche-en-Famenne | €60,931 | €10,197 | 77.5% | - |
| BOKE Brecht | €79,089 | €14,377 | -6.6% | - |
| Broodjeshuis Dubois De Panne | €90,510 | €21,858 | 62.7% | - |
These companies have the same main activity as AZ-SA: retail sale of bread and pastry (bakery outlets) (NACE 47241). They are comparable in size and age: total assets between €60,900 and €132,000, founded between 2013 and 2020.
Official details
Source: KBO- Status
- Active since 13-12-2017Normal situation
- Registered office
- 10 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Retail sale of bread and pastry (bakery outlets)NACE 47241and 5 others
- Establishment unit
- 2.271.097.9191200 Woluwe-Saint-Lambert, since 13-12-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 18-06-2026
Insights on AZ-SA
AZ-SA files the abbreviated format. That format states no turnover. The gross margin fell from €16,208 in 2018 to €12,341 in 2025.
In 2024, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AZ-SA
- What is the company number of AZ-SA?
- The company number of AZ-SA is 0685.889.176. The VAT number is the same number with BE in front: BE 0685.889.176.
- Where is AZ-SA based?
- The registered office is at Waverse steenweg 1676, 1160 Auderghem.Company details
- What does AZ-SA do?
- According to the KBO register, the main activity is retail sale of bread and pastry (bakery outlets) (NACE 47241).
- What is the legal form of AZ-SA?
- AZ-SA is a private limited company (BV).
- When was AZ-SA founded?
- AZ-SA was founded on 13-12-2017.
- Is AZ-SA still active?
- Yes, AZ-SA is an active enterprise in the KBO register.
- What is the turnover of AZ-SA?
- The turnover of AZ-SA was €70,026 in financial year 2025, according to the filed annual accounts.Financials
- Is AZ-SA profitable?
- In financial year 2025, AZ-SA made a profit of €18,420.
- Where can I find the annual accounts of AZ-SA?
- AZ-SA filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AZ-SA due?
- AZ-SA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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