Equity
BAGH has made a profit without a break since 2012.
BAGH has made a profit without a break since 2012.
The result rose in 2025 from €89,320 to €139,835.
The accounts state no turnover.
Green is investment, beige is depreciation.
Latest accounts filed late: after the legal deadline.
Higher solvency than 93% of companies in food and beverage service. Sector median 30.3% · 963 companies.
A confirmed filing finding caps the score at 59.
The dashed line is the sector median: 1.8% across 23,788 companies (NACE 56, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 56, micro). It does better than 94% of them on solvency, 96% on liquidity, 81% on profitability and 71% 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 very low class on 30-06-2025, 0.1% 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).
In July 2024, 31,368 companies had the same profile as BAGH has now. Each dot stands for 79 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BAGH itself: 0.2% within 12 months.
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 31,368 companies, not a prediction for BAGH. 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.
Liquidity is ample, with a current ratio of 5.49 (4.02 in 2024), above the usual 1.5. Short-term debt is 15.5% and cash 59.8% of total assets. 15.5% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 110 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| BAGH Molenbeek-Saint-Jean | €0.7m | €307,338 | 84.5% | 1.7 |
| DE FRIETERIE Lievegem | €1.1m | €306,380 | 59.8% | 1.8 |
| STEPAGELS Aalst | €0.9m | €312,038 | 77.7% | 2.7 |
| DESMET WIM Pittem | €0.9m | €277,786 | 17.6% | 2.4 |
| Friterie du Circuit Mettet | €0.5m | €285,450 | 86.3% | 1.4 |
| LEVIN BOEN Grobbendonk | €0.7m | €210,069 | 46.1% | 1 |
| Schrijvers Projects Buggenhout | €0.8m | €290,174 | 35.6% | 3.2 |
These companies have the same main activity as BAGH: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €522,000 and €1.1m, founded between 2005 and 2011.
BAGH has existed since 2006. In 2016 the gross margin rose from €25,638 to €163,398.
The gross margin has grown every year since 2022. Solvency rose in 2025 from 78.5% to 84.5% because of the retained profit and lower debts.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €870,000. Estimated: probably between €720,000 and €970,000.
Higher than 94% of 963 companies in 2025.
Higher than 93% of 942 companies in 2025.
Higher than 86% of 946 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: middle half · Working capital: top quarter · Staff: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
723,778 | 616,295 | 519,200 | 484,845 | 470,798 | 380,617 | 263,281 | 268,275 | 192,157 | 183,858 | 45,353 | 9,192 | 5,953 | 8,686 | 9,010 | |
21/28 |
107,327 | 82,811 | 44,370 | 43,650 | 55,528 | 63,405 | 50,588 | 23,058 | 26,999 | 10,254 | - | - | - | - | - | |
21 |
7,077 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
22/27 |
94,916 | 77,526 | 39,345 | 42,600 | 54,478 | 63,405 | 50,588 | 23,058 | 26,999 | 10,254 | - | - | - | - | - | |
23 |
8,286 | 8,477 | 7,274 | 7,594 | 7,914 | 1,600 | 1,920 | 2,240 | 3,506 | 4,772 | - | - | - | - | - | |
24 |
52,601 | 30,026 | 24,579 | 28,943 | 40,968 | 55,173 | 42,914 | 14,218 | 16,047 | 4,017 | - | - | - | - | - | |
26 |
34,029 | 39,023 | 7,492 | 6,063 | 5,596 | 6,633 | 5,755 | 6,600 | 7,445 | 1,465 | - | - | - | - | - | |
28 |
5,335 | 5,285 | 5,025 | 1,050 | 1,050 | - | - | - | - | - | - | - | - | - | - | |
29/58 |
616,450 | 533,483 | 474,829 | 441,194 | 415,270 | 317,211 | 212,693 | 245,216 | 165,158 | 173,604 | 45,353 | 9,192 | 5,953 | 8,686 | 9,010 | |
29 |
33,938 | 33,938 | 33,938 | 52,817 | 66,908 | 26,213 | 36,942 | - | - | - | - | - | - | - | - | |
290 |
33,938 | 33,938 | 33,938 | 52,817 | 66,908 | 26,213 | 36,942 | - | - | - | - | - | - | - | - | |
3 |
19,260 | 12,560 | 2,500 | 2,250 | 1,850 | 1,450 | 3,600 | 1,750 | 1,500 | 1,800 | 1,350 | 910 | 910 | 910 | - | |
30/36 |
19,260 | 12,560 | 2,500 | 2,250 | 1,850 | 1,450 | 3,600 | 1,750 | 1,500 | 1,800 | 1,350 | 910 | 910 | 910 | - | |
40/41 |
130,595 | 100,072 | 114,591 | 105,375 | 42,578 | 14,010 | 1,212 | 107,994 | 133,161 | 143,966 | 41,570 | 4,153 | 2,186 | 5,849 | 6,853 | |
40 |
8,567 | 33,966 | 23,499 | 17,097 | 32,392 | 830 | 899 | 488 | 9,676 | 2,930 | - | 3,420 | - | - | - | |
41 |
122,028 | 66,107 | 91,091 | 88,278 | 10,186 | 13,180 | 313 | 107,507 | 123,485 | 141,036 | 41,570 | 733 | 2,186 | 5,849 | 6,853 | |
54/58 |
432,657 | 386,913 | 323,104 | 279,963 | 303,409 | 274,496 | 170,456 | 135,205 | 30,295 | 27,838 | 2,433 | 4,129 | 2,856 | 1,926 | 2,157 | |
490/1 |
- | - | 697 | 789 | 525 | 1,042 | 482 | 267 | 202 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
723,778 | 616,295 | 519,200 | 484,845 | 470,798 | 380,617 | 263,281 | 268,275 | 192,157 | 183,858 | 45,353 | 9,192 | 5,953 | 8,686 | 9,010 | |
10/15 |
611,539 | 483,703 | 400,383 | 351,564 | 323,627 | 282,463 | 207,397 | 146,523 | 87,580 | 66,223 | 28,179 | 1,176 | -1,997 | -8,810 | -18,771 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 15,700 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | - | - | - | - | - | - | - | - | - | - | |
100 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | 2,900 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
241,860 | 121,860 | 61,860 | 61,860 | 61,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,350 | - | - | - | - | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
130 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,350 | - | - | - | - | |
132 |
240,000 | 120,000 | 60,000 | 60,000 | 60,000 | - | - | - | - | - | - | - | - | - | - | |
14 |
351,079 | 343,243 | 319,923 | 271,104 | 243,167 | 262,003 | 186,937 | 126,063 | 70,020 | 58,163 | 20,629 | -5,024 | -8,197 | -15,010 | -24,971 | |
17/49 |
112,239 | 132,591 | 118,817 | 133,281 | 147,171 | 98,154 | 55,884 | 121,751 | 104,577 | 117,635 | 17,174 | 8,016 | 7,950 | 17,496 | 27,782 | |
42/48 |
112,239 | 132,591 | 118,817 | 133,281 | 147,171 | 98,154 | 55,884 | 121,751 | 104,451 | 110,335 | 17,174 | 8,016 | 7,950 | 17,496 | 27,782 | |
44 |
29,216 | 71,121 | 55,662 | 53,294 | 67,333 | 29,951 | 23,425 | 22,153 | 35,509 | 15,712 | 17,174 | 7,146 | 2,800 | 11,151 | 1,200 | |
440/4 |
29,216 | 71,121 | 55,662 | 53,294 | 67,333 | 29,951 | 23,425 | 22,153 | 35,509 | 15,712 | 17,174 | 7,146 | 2,800 | 11,151 | 1,200 | |
45 |
83,023 | 61,471 | 43,156 | 77,578 | 79,838 | 58,203 | 22,459 | 42,748 | 12,093 | 20,623 | - | - | - | - | - | |
450/3 |
60,299 | 47,407 | 28,949 | 52,781 | 66,301 | 55,403 | 21,009 | 18,027 | 5,993 | 20,623 | - | - | - | - | - | |
454/9 |
22,724 | 14,064 | 14,206 | 24,797 | 13,536 | 2,800 | 1,450 | 24,721 | 6,100 | - | - | - | - | - | - | |
47/48 |
- | - | 20,000 | 2,409 | - | 10,000 | 10,000 | 56,850 | 56,850 | 74,000 | - | 870 | 5,150 | 6,345 | 26,582 | |
492/3 |
- | - | - | - | - | - | - | - | 126 | 7,300 | - | - | - | - | - | |
| Income statement | ||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | 433,820 | 296,242 | - | 168,653 | 165,550 | - | |
76A |
- | 7,838 | - | - | - | - | - | - | - | 8,054 | - | - | - | - | - | |
9900 |
307,338 | 200,721 | 191,333 | 93,761 | 147,093 | 159,638 | 126,332 | 91,548 | 46,717 | 163,398 | 25,638 | 4,085 | 7,320 | 10,051 | -4,593 | |
60/61 |
- | - | - | - | - | - | - | - | - | 278,475 | 270,604 | - | 161,333 | 155,499 | - | |
62 |
88,735 | 62,626 | 74,015 | 16,931 | 86 | - | - | - | - | - | - | - | - | - | - | |
630 |
16,093 | 12,636 | 6,976 | 16,560 | 17,302 | 16,919 | 15,101 | 7,081 | 6,296 | 1,875 | - | - | - | - | - | |
631/4 |
- | - | 14,706 | 14,720 | 13,329 | 12,290 | 12,206 | 10,954 | 17,787 | 12,981 | - | - | - | - | - | |
640/8 |
4,625 | 1,722 | 1,033 | 1,665 | 966 | 1,020 | 6,896 | 1,112 | 1,182 | 2,299 | 89 | 912 | 508 | 89 | 286 | |
66A |
- | 5,261 | 1,904 | - | 15 | 19 | - | 25 | 1,442 | - | - | - | - | - | - | |
9901 |
197,885 | 118,477 | 92,700 | 43,886 | 115,395 | 129,389 | 92,129 | 72,377 | 20,011 | 146,243 | 25,549 | 3,174 | 6,812 | 9,962 | -4,879 | |
75/76B |
9 | 0 | - | - | 0 | - | 0 | - | 39 | - | 1,606 | - | - | - | - | |
75 |
9 | 0 | - | - | 0 | - | 0 | - | 39 | - | 1,606 | - | - | - | - | |
65/66B |
6,547 | 3,202 | 3,956 | 6,685 | 5,420 | 6,546 | 3,566 | 1,677 | 1,707 | 619 | 152 | - | - | - | - | |
65 |
6,547 | 3,202 | 3,956 | 6,685 | 5,420 | 6,546 | 3,566 | 1,677 | 1,707 | 619 | 152 | - | - | - | - | |
9903 |
191,347 | 115,275 | 88,744 | 37,201 | 109,975 | 122,844 | 88,564 | 70,700 | 18,343 | 145,624 | 27,003 | 3,174 | 6,812 | 9,962 | -4,879 | |
67/77 |
51,511 | 25,955 | 19,925 | 9,264 | 44,381 | 37,778 | 17,689 | 14,656 | 6,486 | 33,580 | - | - | - | - | - | |
9904 |
139,835 | 89,320 | 68,819 | 27,937 | 65,594 | 85,066 | 70,874 | 56,044 | 11,857 | 112,044 | 27,003 | 3,174 | 6,812 | 9,962 | -4,879 | |
689 |
- | - | - | - | 60,000 | - | - | - | - | - | - | - | - | - | - | |
9905 |
139,835 | 89,320 | 68,819 | 27,937 | 5,594 | 85,066 | 70,874 | 56,044 | 11,857 | 112,044 | 27,003 | 3,174 | 6,812 | 9,962 | -4,879 | |
| Appropriation of the result | ||||||||||||||||
9906 |
483,079 | 409,243 | 339,923 | 271,104 | 243,167 | 272,003 | 196,937 | 126,063 | 70,020 | 132,673 | 21,979 | -5,024 | -8,197 | -15,010 | -24,971 | |
14P |
343,243 | 319,923 | 271,104 | 243,167 | 237,573 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
132,000 | 66,000 | - | - | - | - | - | - | - | 510 | 1,350 | - | - | - | - | |
691 |
- | - | - | - | - | - | - | - | - | 510 | 1,350 | - | - | - | - | |
6921 |
132,000 | 66,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | 20,000 | - | - | 10,000 | 10,000 | - | - | 74,000 | - | - | - | - | - | |
695 |
- | - | 20,000 | - | - | 10,000 | 10,000 | - | - | 74,000 | - | - | - | - | - | |
| Social balance sheet | ||||||||||||||||
9087 |
1.7 | 1.3 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
3,056 | 2,355 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-10-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-10-2026 | 2026-00596278 | |
| 31-12-2024 | full format | 31-08-2025 | 2025-00486290 | |
| 31-12-2023 | micro format | 01-11-2024 | 2024-00525067 | |
| 31-12-2022 | micro format | 27-05-2024 | 2024-00096640 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20373020 | |
| 31-12-2020 | micro format | 18-01-2022 | 2022-01200241 | |
| 31-12-2019 | micro format | 22-09-2020 | 2020-54900260 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25500562 | |
| 31-12-2017 | micro format | 17-08-2018 | 2018-47700269 | |
| 31-12-2016 | micro format | 08-09-2017 | 2017-60400601 | |
| 31-12-2015 | full format | 30-09-2016 | 2016-63400177 | |
| 31-12-2014 | full format | 16-12-2015 | 2015-69300036 | |
| 31-12-2013 | full format | 22-01-2015 | 2015-02200410 | |
| 31-12-2012 | full format | 02-02-2015 | 2015-03700295 | |
| 31-12-2011 | full format | 24-02-2015 | 2015-04900382 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 213,978 | 131,113 | 99,676 | 60,445 | 132,696 | 146,309 | 107,229 | 79,457 | 26,307 | 148,118 | - | - | - | - | - | ||
| 155,929 | 101,956 | 75,795 | 44,497 | 82,895 | 101,985 | 85,975 | 63,124 | 18,153 | 113,919 | - | - | - | - | - | ||
| 40,609 | 51,077 | 7,696 | 4,682 | 9,424 | 29,736 | 37,631 | 3,141 | 23,040 | 12,129 | - | - | - | - | - | ||
| 45,744 | 63,809 | 43,141 | -23,446 | 28,913 | 104,040 | 35,251 | 104,910 | 2,457 | 25,405 | -1,696 | 1,273 | 930 | -230 | - | ||
| 504,211 | 400,892 | 356,012 | 307,913 | 268,099 | 219,058 | 156,809 | 123,465 | 60,707 | 63,268 | 28,179 | 1,176 | -1,997 | -8,810 | -18,771 | ||
| - | - | - | - | - | - | - | - | - | 33.7% | 8.6% | - | 4.0% | 6.0% | - | ||
| 84.5% | 78.5% | 77.1% | 72.5% | 68.7% | 74.2% | 78.8% | 54.6% | 45.6% | 36.0% | 62.1% | 12.8% | -33.6% | -101.4% | -208.3% | ||
| 5.49 | 4.02 | 4.00 | 3.31 | 2.82 | 3.23 | 3.81 | 2.01 | 1.58 | 1.57 | 2.64 | 1.15 | 0.75 | 0.50 | 0.32 | ||
| 5.32 | 3.93 | 3.98 | 3.29 | 2.81 | 3.22 | 3.74 | 2.00 | 1.57 | 1.56 | 2.56 | 1.03 | 0.63 | 0.44 | 0.32 | ||
| 0.18 | 0.27 | 0.30 | 0.38 | 0.45 | 0.35 | 0.27 | 0.83 | 1.19 | 1.78 | 0.61 | 6.82 | - | - | - | ||
| 22.9% | 18.5% | 17.2% | 7.9% | 20.3% | 30.1% | 34.2% | 38.2% | 13.5% | 169.2% | 95.8% | 269.8% | - | - | - | ||
| 19.3% | 14.5% | 13.3% | 5.8% | 13.9% | 22.3% | 26.9% | 20.9% | 6.2% | 60.9% | 59.5% | 34.5% | 114.4% | 114.7% | -54.2% | ||
| 32.68 | 40.95 | 25.20 | 9.04 | 24.48 | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | 2 days | 51 days | - | 5 days | 13 days | - | ||
| - | - | - | - | - | - | - | - | - | 21 days | 23 days | - | 6 days | 26 days | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 3 | 3 |
| full-time | 1 | 1 |
| part-time | 2 | 2 |
| in full-time equivalents | 1.6 | 1.6 |
| 1.7 | 1.3 | |
| On a permanent contract | 2 | 1 |
| Joined | - | 2 |
| Left | - | 0 |
Source: social balance sheet in the 2024 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €32,723 | €50,817 | €3,721 | - | €8,374 |
| Intangible fixed assets | €7,837 | - | - | - | - |
| Financial fixed assets | €50 | €260 | €3,975 | - | €1,050 |
| €16,093 | €12,636 | €6,976 | €16,560 | €17,302 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 67% higher than in 2024 and the highest since 2011. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 21.5% to 15.5%. Equity is higher and debt is lower.
BAGH has no parent and no holdings in its annual accounts. BUTT Masood Ahmed is the only director. BAGH shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| MR COD registered office Gentsesteenweg 386, 1080 Molenbeek-Saint-Jean | 01-01-2007 | 2.158.688.181 | Restaurant |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21526D0269/00Z000 | 84 m² | 1 · 85 m² | 15.1 m · 4 |
If something looks wrong or is missing, please tell us.