Equity
-€23,036
Debts exceed assets in financial year 2025.
Baliza
Overview
Lifetime
2 annual accounts with figures on one time axispeak €17,170 (2025)
€17,170▲ 67.4%
lowest -€18,498 (2025)
-€18,498▼ €3,960
peak -€4,538 (2024)
-€23,036▼ €18,498
€91,507▲ 15.7%
Board1 name since 2023
1 directorTSURKAN Alla
Documentsfilings and deeds
26-08-202626 days late
2025micro format
Gross margin from €10,257 to €17,170Loss of €18,498Equity from -€4,538 to -€23,036Debts from €79,104 to €91,507Cash from €7,022 to €9,581
Key points
from the 2025 annual accountsLosses
-€33,036 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Turnover
≈ €180,000 estimated
The micro format states no turnover.
Debts
€91,507 134% of the balance sheet
Suppliers 2%Taxes and wages 10%Other 88%
Starting capital
€130,000 100 shares
Position in the sector
-€18,498
Lower net result than 88% of companies in retail trade. Sector median €5,048 · 22,907 companies.
2025 accounts filed 26 days after the deadline
Checked score
49
Fair
Financially stronger than 8% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.6% Moderate
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 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
01-2025: 1.9%lowest value
02-2025: 1.9%● unchanged vs 01-2025lowest value
03-2025: 2.0%▲ +0.1 percentage points vs 02-2025
04-2025: 2.3%▲ +0.3 percentage points vs 03-2025
05-2025: 2.4%▲ +0.1 percentage points vs 04-2025
06-2025: 2.7%▲ +0.3 percentage points vs 05-2025
07-2025: 3.0%▲ +0.3 percentage points vs 06-2025
08-2025: 2.9%▼ -0.1 percentage points vs 07-2025
09-2025: 3.0%▲ +0.1 percentage points vs 08-2025
10-2025: 2.9%▼ -0.1 percentage points vs 09-2025
11-2025: 2.9%● unchanged vs 10-2025
12-2025: 3.0%▲ +0.1 percentage points vs 11-2025
01-2026: 3.0%● unchanged vs 12-2025
02-2026: 3.0%● unchanged vs 01-2026
03-2026: 3.0%● unchanged vs 02-2026
04-2026: 3.1%▲ +0.1 percentage points vs 03-2026
05-2026: 3.2%▲ +0.1 percentage points vs 04-2026
06-2026: 3.2%● unchanged vs 05-2026
07-2026: 3.2%● unchanged vs 06-2026
08-2026: 3.8%▲ +0.6 percentage points vs 07-2026highest value
09-2026: 2.6%▼ -1.2 percentage points vs 08-2026
10-2026: 2.6%● unchanged vs 09-2026
11-2026: 2.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€23,036
Founded in 2023
Sector: Retail trade (NACE 47)
lowers risk
Size: total assets €68,470
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 6% of them on solvency, 16% on liquidity, 6% on profitability and 2% 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 moderate class on 30-06-2025, 2.4% 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).
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.12 (0.18 in 2024), below 1. Short-term debt is 133.6% and cash 14% of total assets. Equity is negative.
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
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2425
2024 to 2025 · latest year -€23,036
raises risk · 2025 accounts filed 26 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 · 2 filingsDeviation from the deadline
2025
26 days late
2024
28 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 1 day before 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.
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- TSURKAN Alla 50 sharesdeed of 21-12-2023
- FLORINDO de AZEVEDO Daniel 50 sharesdeed of 21-12-2023
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1003630294
First establishment
Carpisa, Lambermontlaan 1, Brussels
Incorporation
Founding capital of €130,000, 100 shares · Founders: TSURKAN Alla and FLORINDO de AZEVEDO Daniel · Appointment: TSURKAN Alla (director) · published on 21-12-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Baliza Ixelles | €68,470 | €17,170 | -33.6% | - |
| HOIHOI Oosterzele | €52,790 | €23,571 | 23.4% | - |
| AC4U Linkebeek | €87,029 | €49,304 | 15.1% | 1.4 |
| HAMADA ROTTERDAM Molenbeek-Saint-Jean | €42,271 | €70,258 | -33.5% | - |
| RAPHAELLE 2023 Grimbergen | €19,910 | €16,704 | -167.7% | - |
| LML Liège | €159,296 | €10,086 | -24.4% | - |
| Fidez Brussels | €27,489 | €60,381 | -83.9% | - |
These companies have the same main activity as Baliza: retail trade (NACE 47722). They are comparable in size and age: total assets between €19,900 and €159,000, founded between 2019 and 2024.
Official details
Source: KBO- Status
- Active since 19-12-2023Normal situation
- Activity
- Retail tradeNACE 47722and 5 others
- Establishment unit
- 2.358.562.2251000 Brussels, since 18-04-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 04-02-2026
Annual accounts 2025
- €17,170▲ 67.4%
- €18,498▲ 27.2%
- -€23,036▼ 408%
- €68,470▼ 8.2%
- Filing
- Filed on 26-08-2026
Insights on Baliza
The computed 12-month bankruptcy probability of Baliza is 2.6% (moderate). The 2025 annual accounts show negative equity (-€23,036) and a net result of -€18,498.
Its solvency ranks better than 14% of 22,924 sector peers (NACE 47, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 26-08-2026, 26 days late€17,170
▲ 67.4%
-€18,259
▼ €3,862
-€18,498
▼ €3,960
-€80,805
▼ €16,241
-33.6%
▼ 27.6 percentage points
0.12
▼ 0.07
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €180,000. Estimated: probably between €66,000 and €380,000.
Balance sheet
balance sheet total €68,470 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
-33.6%
Higher than 14% of 22,924 companies in 2025.
0.12
Lower than 95% of 22,052 companies in 2025.
-27.0%
Higher than 9% of 22,202 companies in 2025.
Baliza
Middle half of the sector
80% of the sector
Micro accounts in retail trade (NACE 47)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
68,470 | 74,566 | |
21/28 |
57,769 | 60,026 | |
22/27 |
14,769 | 17,026 | |
23 |
13,999 | 15,633 | |
24 |
770 | 1,393 | |
28 |
43,000 | 43,000 | |
29/58 |
10,701 | 14,540 | |
3 |
- | 4,647 | |
30/36 |
- | 4,647 | |
40/41 |
1,120 | 2,548 | |
40 |
1,120 | 1,870 | |
41 |
- | 678 | |
54/58 |
9,581 | 7,022 | |
490/1 |
- | 323 | |
| Balance sheet: equity and liabilities | |||
10/49 |
68,470 | 74,566 | |
10/15 |
-23,036 | -4,538 | |
10/11 |
10,000 | 10,000 | |
14 |
-33,036 | -14,538 | |
17/49 |
91,507 | 79,104 | |
42/48 |
91,507 | 79,104 | |
44 |
2,049 | 4,680 | |
440/4 |
2,049 | 4,680 | |
45 |
9,122 | 12,744 | |
450/3 |
5,860 | 8,932 | |
454/9 |
3,262 | 3,812 | |
47/48 |
80,336 | 61,680 | |
| Income statement | |||
9900 |
17,170 | 10,257 | |
62 |
33,145 | 22,970 | |
630 |
2,257 | 1,684 | |
640/8 |
27 | - | |
9901 |
-18,259 | -14,397 | |
75/76B |
0 | - | |
75 |
0 | - | |
65/66B |
240 | 141 | |
65 |
240 | 141 | |
9903 |
-18,498 | -14,538 | |
9904 |
-18,498 | -14,538 | |
9905 |
-18,498 | -14,538 | |
| Appropriation of the result | |||
9906 |
-33,036 | -14,538 | |
14P |
-14,538 | - | |
| Document | |||
The notes to these accounts have 5 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 26-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 26 days after the deadline. Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00425733.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| -16,001 | -12,712 | ||
| -16,241 | -12,854 | ||
| 0 | 61,711 | ||
| 2,559 | - | ||
| -80,805 | -64,564 | ||
| -33.6% | -6.1% | ||
| 0.12 | 0.18 | ||
| 0.12 | 0.13 | ||
| -27.0% | -19.5% | ||
| -66.75 | -89.91 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | - | €18,711 |
| Financial fixed assets | - | €43,000 |
| €2,257 | €1,684 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on Baliza
The operating result for 2025 is a loss of €18,259, larger than the loss of €14,397 in 2024.
Equity is negative. Debt (€91,507) exceeds the balance-sheet total (€68,470).
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 21-12-2023
term without a fixed end
listed in the 2025 annual accounts, filed on 26-08-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 21-12-2023
Mandates through the years
1 name, the dashed line is todayTSURKAN Alla
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- TSURKAN Alla
- Director (not named in the articles), appointed by deed of 21-12-2023, still in office
Control
Founders
TSURKAN Alla, FLORINDO de AZEVEDO Daniel
This company
Baliza
Equity -€23,036
Loss €18,498 in 2025
Capital
- Contribution
- €10,000
- Shares
- 100
- Contribution per share
- €100
- Equity per share
- -€230 in 2025
- Source
- 2025 annual accounts
Articles of association
deed of 21-12-2023 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director1 director“Rémunération des administrateurs, fixe ou proportionnelle”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 21-12-2023 ↗
- TSURKAN Alla 50 shares (50%) · €65,000
- FLORINDO de AZEVEDO Daniel 50 shares (50%) · €65,000
Network & group
No group
Baliza has no parent and no holdings in its annual accounts. TSURKAN Alla is the only director. Baliza shares no director with another company.
At the same address
Napelsstraat 43, 1050 Ixelles · 1 other company| HealthteQ
registered office since 30-07-2024 · founded in 2024 |
turnover €35,324 (2025) 1012.039.008 |
Timeline
Timeline
5 events since 2023Filings
Establishments
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 26 days late
Registered in the Peppol Directory Reachable for e-invoices through 0208:1003630294
2025
Annual accounts 2024 filed PDFmicro format · 28 days before the deadline
2024
First establishment Carpisa, Lambermontlaan 1, Brussels
2023
IncorporationFounding capital of €130,000, 100 shares · Founders: TSURKAN Alla and FLORINDO de AZEVEDO Daniel · Appointment: TSURKAN Alla (director) · published on 21-12-20237 points ▸
- Founder, TSURKAN Alla
- Founder, FLORINDO de AZEVEDO Daniel
- Founding capital, €130,000, 100 shares
- TSURKAN Alla holds 50 shares
- FLORINDO de AZEVEDO Daniel holds 50 shares
- Registered office clause, Rue de Naples 43, 1050 Ixelles
- Director appointment, TSURKAN Alla (director (not named in the articles))
- The deed holds 5 more points.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 19 December 2023, Baliza was incorporated as a private limited company by two natural persons, with a starting capital of €130,000.12 TSURKAN Alla is director of the company, appointed by deed of 21-12-2023.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Identity
- Enterprise number
- 1003.630.294
- VAT number
- BE 1003.630.294
- Peppol ID
- 0208:1003630294
- Other Peppol ID
- 9925:BE1003630294
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 19-12-2023
- Financial year
- ends on 31 December
- Peppol
- Reachable since 04-02-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- Baliza in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 21-12-2023 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région de Bruxelles-Capitale”deed of 21-12-2023 (in French)
Activities
NACEBEL 202547722
Retail trade main activity
47715
Retail trade
47721
Retail sale of footwear
Codes under NACEBEL 2008
47722
Retail trade main activity
46160
Wholesale trade
47715
Retail trade
47716
Retail trade
47721
Retail trade
47910
Retail trade
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Le commerce en ligne et en magasins de sacs, valises et ensembles de bagagerie, maroquinerie et accessoires, beauty cases et autres produits…”deed of 21-12-2023 (in French)
2 activities
- Le commerce en ligne et en magasins de sacs, valises et ensembles de bagagerie, maroquinerie et accessoires, beauty cases et autres produits pour le voyage ;
- Le commerce en ligne et en magasins de chaussures, vêtements et sous-vêtements, articles de lingerie et de collanterie ;
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Napelsstraat 43 registered office 1050 Ixelles | ||
| Carpisa Lambermontlaan 1, 1000 Brussels | 18-04-2024 | 2.358.562.225 |
Buildings and parcels at the addresses
- Ground area
- 4.1 ha
- Buildings
- 2.1 ha
- Volume, LiDAR
- 403,565 m³
- Tallest building
- 30.4 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21813F0608/00M000 | 4.0 ha | 1 · 2.1 ha | 30.4 m · 6 |
| 21009A0858/00D000 | 181 m² | 1 · 106 m² | 18.9 m · 5 |