BAGH
ActiveSummary
The computed 12-month bankruptcy probability of BAGH is 1.9% (moderate). The 2025 annual accounts show equity of €612k and a net result of €140k. Equity is growing by ~16.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 818 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability93▲+6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 5.49 against 4.02 in 2024; short-term debt: 15.5% and cash: 59.8% of total assets), and 15.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
84.5%
Return on assets
19.3%
Age of the figures
9 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
31 d late
2023
93 d late
2022
301 d late
2021
31 d late
2020
171 d late
2019
53 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€140k▲ 56.6%
2024 · €89k
Working capital
€504k▲ 25.8%
2024 · €401k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€115k▼ 10.8%€44k▼ 62.0%€93k▲ 111%€118k▲ 27.8%€198k▲ 67.0%
Net result€66k▼ 22.9%€28k▼ 57.4%€69k▲ 146%€89k▲ 29.8%€140k▲ 56.6%
Equity€324k▲ 14.6%€352k▲ 8.6%€400k▲ 13.9%€484k▲ 20.8%€612k▲ 26.4%
Total assets€471k▲ 23.7%€485k▲ 3.0%€519k▲ 7.1%€616k▲ 18.7%€724k▲ 17.4%
Debt€147k▲ 49.9%€133k▼ 9.4%€119k▼ 10.9%€133k▲ 11.6%€112k▼ 15.3%
Working capital€268k▲ 22.4%€308k▲ 14.9%€356k▲ 15.6%€401k▲ 12.6%€504k▲ 25.8%
Staff (FTE)1.31.7▲ 30.8%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 67% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €724k
Fixed assets
€107k ▲ 29.6%
Current assets
€616k ▲ 15.6%
Equity and liabilities €724k
Equity
€612k ▲ 26.4%
Debt
€112k ▼ 15.3%
Debt's share of the balance-sheet total falls from 21.5% to 15.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€214k▲
2024 · €131k
Cash flow
€156k▲
2024 · €102k
Current ratio
5.49▲
2024 · 4.02
Quick ratio
5.32▲
2024 · 3.93
Debt to equity
0.18▼
2024 · 0.27
ROE
22.9%▲
2024 · 18.5%
ROA
19.3%▲
2024 · 14.5%
Interest coverage
32.68▼
2024 · 40.95
Debt ≤ 1 year
€112k▼
2024 · €133k
Income taxes
€52k▲
2024 · €26k
Staff costs
€89k▲
2024 · €63k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €8k | - | - |
| Remuneration, social security and pensions62 | €86 | €17k | €74k | €63k | €89k | ▲ 41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €17k | €7k | €13k | €16k | ▲ 27.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €13k | €15k | €15k | - | - | - |
| Other operating charges640/8 | €966 | €2k | €1k | €2k | €5k | ▲ 169% |
| Non-recurring operating charges66A | €15 | - | €2k | €5k | - | - |
| Gross operating margin9900 | €147k | €94k | €191k | €201k | €307k | ▲ 53.1% |
| Operating profit (loss)9901 | €115k | €44k | €93k | €118k | €198k | ▲ 67.0% |
| Financial income75/76B | €0 | - | - | €0 | €9 | ▲ 3,604% |
| Recurring financial income75 | €0 | - | - | €0 | €9 | ▲ 3,604% |
| Financial charges65/66B | €5k | €7k | €4k | €3k | €7k | ▲ 105% |
| Recurring financial charges65 | €5k | €7k | €4k | €3k | €7k | ▲ 105% |
| Profit (loss) for the period before taxes9903 | €110k | €37k | €89k | €115k | €191k | ▲ 66.0% |
| Income taxes67/77 | €44k | €9k | €20k | €26k | €52k | ▲ 98.5% |
| Profit (loss) for the period9904 | €66k | €28k | €69k | €89k | €140k | ▲ 56.6% |
| Transfer to tax-exempt reserves689 | €60k | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €6k | €28k | €69k | €89k | €140k | ▲ 56.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €471k | €485k | €519k | €616k | €724k | ▲ 17.4% |
| Fixed assets21/28 | €56k | €44k | €44k | €83k | €107k | ▲ 29.6% |
| Intangible fixed assets21 | - | - | - | - | €7k | - |
| Tangible fixed assets22/27 | €54k | €43k | €39k | €78k | €95k | ▲ 22.4% |
| Plant, machinery and equipment23 | €8k | €8k | €7k | €8k | €8k | ▼ 2.3% |
| Furniture and vehicles24 | €41k | €29k | €25k | €30k | €53k | ▲ 75.2% |
| Other tangible fixed assets26 | €6k | €6k | €7k | €39k | €34k | ▼ 12.8% |
| Financial fixed assets28 | €1k | €1k | €5k | €5k | €5k | ▲ 0.9% |
| Current assets29/58 | €415k | €441k | €475k | €533k | €616k | ▲ 15.6% |
| Amounts receivable after more than one year29 | €67k | €53k | €34k | €34k | €34k | = |
| Trade receivables290 | €67k | €53k | €34k | €34k | €34k | = |
| Stocks and contracts in progress3 | €2k | €2k | €3k | €13k | €19k | ▲ 53.3% |
| Stocks30/36 | €2k | €2k | €3k | €13k | €19k | ▲ 53.3% |
| Amounts receivable within one year40/41 | €43k | €105k | €115k | €100k | €131k | ▲ 30.5% |
| Trade receivables40 | €32k | €17k | €23k | €34k | €9k | ▼ 74.8% |
| Other amounts receivable41 | €10k | €88k | €91k | €66k | €122k | ▲ 84.6% |
| Cash at bank and in hand54/58 | €303k | €280k | €323k | €387k | €433k | ▲ 11.8% |
| Deferred charges and accrued income490/1 | €525 | €789 | €697 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €471k | €485k | €519k | €616k | €724k | ▲ 17.4% |
| Equity10/15 | €324k | €352k | €400k | €484k | €612k | ▲ 26.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | €19k | €19k | = |
| Issued capital100 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €62k | €62k | €62k | €122k | €242k | ▲ 98.5% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | €60k | €60k | €60k | €120k | €240k | ▲ 100% |
| Profit (loss) carried forward14 | €243k | €271k | €320k | €343k | €351k | ▲ 2.3% |
| Amounts payable17/49 | €147k | €133k | €119k | €133k | €112k | ▼ 15.3% |
| Amounts payable within one year42/48 | €147k | €133k | €119k | €133k | €112k | ▼ 15.3% |
| Trade debts44 | €67k | €53k | €56k | €71k | €29k | ▼ 58.9% |
| Suppliers440/4 | €67k | €53k | €56k | €71k | €29k | ▼ 58.9% |
| Taxes, remuneration and social security45 | €80k | €78k | €43k | €61k | €83k | ▲ 35.1% |
| Taxes450/3 | €66k | €53k | €29k | €47k | €60k | ▲ 27.2% |
| Remuneration and social security454/9 | €14k | €25k | €14k | €14k | €23k | ▲ 61.6% |
| Other amounts payable47/48 | - | €2k | €20k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66k | €28k | €69k | €89k | €140k | ▲ 56.6% |
| + Depreciation and write-downs630 | €17k | €17k | €7k | €13k | €16k | ▲ 27.4% |
| Operating cash flow (approximation) | €83k | €44k | €76k | €102k | €156k | ▲ 52.9% |
| Investment in fixed assets (approximation) | - | €-5k | €-8k | €-51k | €-41k | ▲ 20.5% |
| Change in cash | - | €-23k | €43k | €64k | €46k | ▼ 28.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €140k ▲56.6%
Operating result €198k, net result €140k, both a record.
31-12
Financial
Equity above €500kEq €612k ▲26.4%
8 profitable years in a row build equity to €612k.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
01-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 93 days late
27-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 301 days late
2022
31-12
Financial
Weakest financial yearnet €28k ▼57.4%
Net result drops to €28k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
18-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 171 days late
2020
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
31-12
Financial
Equity above €200kEq €207k ▲41.5%
2 profitable years in a row build equity to €207k.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 17 days late
2017
08-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 39 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, Sint-Jans-Molenbeek · 1 establishment unit since 2007
Ground area
84 m²
Building footprint
85 m²
Volume, LiDAR
1,019 m³
Parcel 21526D0269/00Z000, Brussels · tallest building 15.1 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
MR COD
since 20072.158.688.181
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21526D0269/00Z000 | Brussels | 84 m² | 1 · 85 m² | 15.1 m · 4 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Jans-Molenbeek2.158.688.181
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Of 21,861 companies in sector 56112 we hold annual accounts for 9,773. 3,916 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
Founded21-09-2006
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.