AZIMUT
ActiveSummary
AZIMUT has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €607,992 and a net result of €261,624. Equity is shrinking by ~27% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 31% of 701 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability52▲+23
Solvency33▲+4
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.2 against 0.27 in 2024; short-term debt: 88.6% and cash: 8.4% of total assets), and 91.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
8.5%
Return on assets
3.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €607,992
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
9 d early
2023
90 d late
2022
91 d late
2021
18 d late
2020
32 d early
2019
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€261,624
2024 · -€186,687
Working capital
-€5.1m▲ 9.0%
2024 · -€5.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, 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
Line20212022202320242025
Operating result-€1.0m▼ 1,947%-€166,030▲ 83.9%€286,771€164,959▼ 42.5%€569,859▲ 245%
Net result-€1.1mbelow the sector's middle half▼ 4,199%-€208,976below the sector's middle half▲ 81.7%-€974,458below the sector's middle half▼ 366%-€186,687below the sector's middle half▲ 80.8%€261,624above the sector's middle half
Equity€1.7mabove the sector's middle half▼ 39.9%€1.5mwithin the sector's middle half▼ 12.2%€533,055within the sector's middle half▼ 64.6%€346,368within the sector's middle half▼ 35.0%€607,992within the sector's middle half▲ 75.5%
Total assets€3.2mwithin the sector's middle half▼ 24.6%€3.1mwithin the sector's middle half▼ 1.7%€7.9mabove the sector's middle half▲ 155%€8.0mwithin the sector's middle half▲ 0.9%€7.2mabove the sector's middle half▼ 10.5%
Debt€1.5m▲ 7.9%€1.6m▲ 10.7%€7.4m▲ 359%€7.7m▲ 3.5%€6.6m▼ 14.4%
Working capital€347,534above the sector's middle half▼ 75.1%€109,766within the sector's middle half▼ 68.4%-€5.3mbelow the sector's middle half-€5.6mbelow the sector's middle half▼ 5.1%-€5.1mbelow the sector's middle half▲ 9.0%
Solvency54.1%above the sector's middle half▼ 13.8pp48.3%within the sector's middle half▼ 5.8pp6.7%within the sector's middle half▼ 41.6pp4.3%within the sector's middle half▼ 2.4pp8.5%within the sector's middle half▲ 4.1pp
Current ratio2.06above the sector's middle half▼ 5.081.18within the sector's middle half▼ 0.880.28below the sector's middle half▼ 0.910.27below the sector's middle half▼ 0.010.20below the sector's middle half▼ 0.07
Return on assets (ROA)-35.9%below the sector's middle half▼ 35.3pp-6.7%below the sector's middle half▲ 29.2pp-12.3%below the sector's middle half▼ 5.6pp-2.3%within the sector's middle half▲ 9.9pp3.6%within the sector's middle half▲ 6.0pp
Staff (FTE)18within the sector's middle half21.2within the sector's middle half▲ 17.8%22.1above the sector's middle half▲ 4.2%
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 245% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.2m
Fixed assets
€5.9m ▼ 0.9%
Current assets
€1.3m ▼ 38.7%
Equity and liabilities €7.2m
Equity
€607,992 ▲ 75.5%
Debt
€6.6m ▼ 14.4%
Debt's share of the balance-sheet total falls from 95.7% to 91.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.1m▲
2024 · €584,496
Cash flow
€758,716▲
2024 · €232,850
Debt to equity
10.81▼
2024 · 22.15
ROE
43.0%▲
2024 · -53.9%
Interest coverage
3.40▲
2024 · 1.58
Debt ≤ 1 year
€6.4m▼
2024 · €7.7m
Staff costs
€1.1m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,214 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.6%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,214 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €1.0m | €1.1m | €1.1m | ▲ 3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €88,019 | €88,019 | €338,793 | €419,537 | €497,093 | ▲ 18.5% |
| Other operating charges640/8 | €70,722 | €68,506 | €193,591 | €179,828 | €217,419 | ▲ 20.9% |
| Non-recurring operating charges66A | €868,147 | - | €137,750 | €106,579 | €27,205 | ▼ 74.5% |
| Gross operating margin9900 | -€5,916 | -€9,505 | €2.0m | €2.0m | €2.4m | ▲ 24.2% |
| Operating profit (loss)9901 | -€1.0m | -€166,030 | €286,771 | €164,959 | €569,859 | ▲ 245% |
| Financial income75/76B | €10,451 | €41,733 | €993 | €18,384 | €7,118 | ▼ 61.3% |
| Recurring financial income75 | €10,451 | €41,733 | €993 | €18,384 | €7,118 | ▼ 61.3% |
| Financial charges65/66B | €118,355 | €84,679 | €1.3m | €370,030 | €315,354 | ▼ 14.8% |
| Recurring financial charges65 | €118,355 | €71,257 | €301,296 | €370,030 | €313,552 | ▼ 15.3% |
| Non-recurring financial charges66B | - | €13,422 | €960,926 | - | €1,802 | - |
| Profit (loss) for the period before taxes9903 | -€1.1m | -€208,976 | -€974,458 | -€186,687 | €261,624 | ▲ 240% |
| Profit (loss) for the period9904 | -€1.1m | -€208,976 | -€974,458 | -€186,687 | €261,624 | ▲ 240% |
| Profit (loss) for the period to be appropriated9905 | -€1.1m | -€208,976 | -€974,458 | -€186,687 | €261,624 | ▲ 240% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.2m | €3.1m | €7.9m | €8.0m | €7.2m | ▼ 10.5% |
| Fixed assets21/28 | €2.5m | €2.4m | €5.9m | €6.0m | €5.9m | ▼ 0.9% |
| Intangible fixed assets21 | - | - | €1.2m | €1.1m | €987,841 | ▼ 10.9% |
| Tangible fixed assets22/27 | €1.5m | €1.4m | €4.7m | €4.9m | €4.9m | ▲ 1.4% |
| Land and buildings22 | €1.5m | €1.4m | €4.6m | €4.3m | €4.8m | ▲ 10.8% |
| Plant, machinery and equipment23 | - | - | - | - | €5,497 | - |
| Furniture and vehicles24 | - | - | €22,544 | €17,689 | €20,075 | ▲ 13.5% |
| Assets under construction and advance payments27 | - | - | €49,064 | €536,563 | €132,035 | ▼ 75.4% |
| Financial fixed assets28 | €1.0m | €1.0m | €6,204 | €9,204 | €9,204 | = |
| Current assets29/58 | €675,817 | €711,083 | €2.1m | €2.0m | €1.3m | ▼ 38.7% |
| Amounts receivable within one year40/41 | €476,898 | €486,558 | €118,851 | €151,445 | €33,727 | ▼ 77.7% |
| Trade receivables40 | €12,956 | €12,956 | €72,899 | €146,670 | €23,070 | ▼ 84.3% |
| Other amounts receivable41 | €463,943 | €473,603 | €45,953 | €4,774 | €10,657 | ▲ 123% |
| Current investments50/53 | - | - | €1.0m | €335,215 | €598,520 | ▲ 78.5% |
| Cash at bank and in hand54/58 | €198,919 | €223,472 | €900,085 | €1.5m | €602,155 | ▼ 60.6% |
| Deferred charges and accrued income490/1 | - | €1,053 | €561 | €23,371 | €16,969 | ▼ 27.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.2m | €3.1m | €7.9m | €8.0m | €7.2m | ▼ 10.5% |
| Equity10/15 | €1.7m | €1.5m | €533,055 | €346,368 | €607,992 | ▲ 75.5% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Revaluation surpluses12 | €450,000 | €450,000 | €430,875 | €411,750 | €392,625 | ▼ 4.6% |
| Reserves13 | €224,963 | €224,963 | €244,088 | €263,213 | €282,338 | ▲ 7.3% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | €57,375 | - |
| Distributable reserves133 | €223,104 | €223,104 | €242,229 | €263,213 | €224,963 | ▼ 14.5% |
| Profit (loss) carried forward14 | €1.0m | €813,958 | -€160,500 | -€347,187 | -€85,563 | ▲ 75.4% |
| Amounts payable17/49 | €1.5m | €1.6m | €7.4m | €7.7m | €6.6m | ▼ 14.4% |
| Amounts payable after more than one year17 | €1.1m | €1.0m | - | - | - | - |
| Financial debts170/4 | €1.1m | €1.0m | - | - | - | - |
| Amounts payable within one year42/48 | €328,283 | €601,317 | €7.4m | €7.7m | €6.4m | ▼ 16.9% |
| Current portion of amounts payable after more than one year42 | €248,075 | €265,697 | - | - | - | - |
| Financial debts43 | - | €94,107 | €4.6m | €4.6m | €4.3m | ▼ 6.7% |
| Credit institutions430/8 | - | €94,107 | €4.6m | €4.6m | €4.3m | ▼ 6.7% |
| Trade debts44 | €80,208 | €29,464 | €464,656 | €650,981 | €149,268 | ▼ 77.1% |
| Suppliers440/4 | €80,208 | €29,464 | €464,656 | €650,981 | €149,268 | ▼ 77.1% |
| Advances received on contracts in progress46 | - | - | €29,918 | €90,228 | €99,320 | ▲ 10.1% |
| Taxes, remuneration and social security45 | - | - | €145,065 | €119,261 | €125,121 | ▲ 4.9% |
| Taxes450/3 | - | - | €13,942 | €7,635 | €12,950 | ▲ 69.6% |
| Remuneration and social security454/9 | - | - | €131,124 | €111,627 | €112,171 | ▲ 0.5% |
| Other amounts payable47/48 | - | €212,049 | €2.2m | €2.2m | €1.7m | ▼ 22.8% |
| Accrued charges and deferred income492/3 | €5,475 | €6,287 | €21,448 | €16,114 | €210,981 | ▲ 1,209% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.1m | -€208,976 | -€974,458 | -€186,687 | €261,624 | ▲ 240% |
| + Depreciation and write-downs630 | €88,019 | €88,019 | €338,793 | €419,537 | €497,093 | ▲ 18.5% |
| Operating cash flow (approximation) | -€1.1m | -€120,957 | -€635,664 | €232,850 | €758,716 | ▲ 226% |
| Investment in fixed assets (approximation) | - | €0 | -€3.8m | -€501,577 | -€446,066 | ▲ 11.1% |
| Change in cash | - | €24,553 | €676,613 | €630,053 | -€927,983 | ▼ 247% |
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
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-12
Financial
Back to profitnet €261,624
Net result €261,624 after 5 loss-making years.
31-12
Financial
Equity above €500,000Eq €607,992 ▲75.5%
Equity rises from €346,368 to €607,992.
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 90 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 91 days late
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 18 days late
2021
31-12
Financial
Weakest financial yearnet -€1.1m
Net result drops to -€1.1m, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €8,082
Net result €8,082 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Elsene · 1 establishment unit since 1979
Ground area
426 m²
Building footprint
426 m²
Volume, LiDAR
8,007 m³
Parcel 21009A0404/00D003, Brussels · tallest building 23.4 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
de Stassartstraat 43, 1050 Elsene
since 19792.015.750.664
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0404/00D003 | Brussels | 426 m² | 1 · 426 m² | 23.4 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- CH4 Belgique
- AZIMUT
Highest known parent: CH4 Belgique. The sources do not say who stands above it.
Owners 1
- CH4 Belgiqueparent100%
Holdings 1
-
49%
According to the 2022 annual accounts of AZIMUT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteElsene2.015.750.664
Legal Entity Identifier
699400A3Z6BBI2QDZ383
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Of 2,393 companies in sector 55100 we hold annual accounts for 1,517. 1,063 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded24-11-1978
Fiscal year end31-12
Activities, NACEBEL 2025
55100Hotels and similar accommodation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418910039
Registered
13-06-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.