BALKAN GROUP
ActiveThe computed 12-month bankruptcy probability of BALKAN GROUP is 2.9% (moderate). The 2025 annual accounts show equity of €139k and a net result of €84k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 85% of 794 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
70
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency98▲+26
Growth78=
Track record94
Bankruptcy probability, 12 months
2.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity ample (current ratio 2.59 against 1.09 in 2024; short-term debt: 26.9% and cash: 5.1% of total assets), and 26.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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
73.1%
Return on assets
44.1%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-07-2026, 5 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
5 d early
2024
43 d late
2023
29 d late
2022
238 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€139k▲ 152%
2024 · €55k
2022: €-17k
2023: €-3k
2024: €55k
2022 → 2025
Total assets
€191k▲ 61.7%
2024 · €118k
2022: €34k
2023: €66k
2024: €118k
2022 → 2025
Net result
€84k▲ 44.7%
2024 · €58k
2022: €-18k
2023: €14k
2024: €58k
2022 → 2025
Working capital
€81k▲ 1,288%
2024 · €6k
2022: €-43k
2023: €-56k
2024: €6k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€-17k-€-3k▲ 84.2%€55k€139k▲ 152%
Operating result€-18k-€14k€58k▲ 312%€82k▲ 40.2%
Net result€-18k-€14k€58k▲ 306%€84k▲ 44.7%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 40% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €191k
Fixed assets
€58k▲ 17.1%
Current assets
€133k▲ 93.9%
Equity and liabilities €191k
Equity
€139k▲ 152%
Debt
€51k▼ 18.0%
The debt ratio falls from 53.1% to 26.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€90k▲
2024 · €67k
Cash flow
€92k▲
2024 · €67k
Solvency
73.1%▲
2024 · 46.9%
Current ratio
2.59▲
2024 · 1.09
Quick ratio
2.58▲
2024 · 1.08
Debt / equity
0.37▼
2024 · 1.13
ROE
60.3%▼
2024 · 104.8%
ROA
44.1%▼
2024 · 49.2%
Interest coverage
19.72▼
2024 · 179.10
Debt
€51k▼
2024 · €63k
Debt ≤ 1 year
€51k▼
2024 · €63k
Staff costs
€110k▲
2024 · €84k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€118k€191k▲
Formation expenses20€0€0=
Fixed assets21/28€50k€58k▲
Tangible fixed assets22/27€46k€54k▲
Plant, machinery and equipment23€35k€39k▲
Furniture and vehicles24€5k€2k▼
Other tangible fixed assets26€5k€13k▲
Financial fixed assets28€4k€4k=
Current assets29/58€68k€133k▲
Stocks and contracts in progress3€800€550▼
Stocks30/36€800€550▼
Amounts receivable within one year40/41€63k€122k▲
Trade receivables40€9k€18k▲
Other amounts receivable41€53k€105k▲
Cash at bank and in hand54/58€5k€10k▲
Equity and liabilities
Total equity and liabilities10/49€118k€191k▲
Equity10/15€55k€139k▲
Contributions10/11€2k€2k=
Outside capital11-€2k
Other1109/19-€2k
Profit (loss) carried forward14€53k€137k▲
Amounts payable17/49€63k€51k▼
Amounts payable within one year42/48€63k€51k▼
Trade debts44€49k€34k▼
Suppliers440/4€49k€34k▼
Taxes, remuneration and social security45€13k€17k▲
Taxes450/3€12k€15k▲
Remuneration and social security454/9€2k€2k▲
Income statement
Code20242025
Non-recurring operating income76A€3k-
Remuneration, social security and pensions62€84k€110k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k▼
Other operating charges640/8€392€1k▲
Gross operating margin9900€152k€201k▲
Operating profit (loss)9901€58k€82k▲
Financial income75/76B€144€7k▲
Recurring financial income75€144€5k▲
Non-recurring financial income76B€144€2k▲
Financial charges65/66B€373€5k▲
Recurring financial charges65€373€5k▲
Profit (loss) for the period before taxes9903€58k€84k▲
Profit (loss) for the period9904€58k€84k▲
Profit (loss) for the period to be appropriated9905€58k€84k▲
Appropriation of the result
Profit (loss) to be appropriated9906€53k€137k▲
Profit (loss) brought forward from the previous period14P€-5k€53k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2022net €84k ▲44.7%
Operating result €82k, net result €84k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.59
Current ratio from 1.09 to 2.59; short-term debt falls from €63k to €51k.
31-12
Financial
Equity above €100kEq €139k ▲152%
3 profitable years in a row build equity to €139k.
12-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 43 days late
2024
31-12
Financial
Liquidity times 6current ratio 1.09
Current ratio from 0.18 to 1.09; short-term debt falls from €68k to €63k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
25-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 238 days late
2023
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Brussel · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Lakensestraat 721000 BrusselGround area
127 m²
Building footprint
96 m²
Volume, LiDAR
1,312 m³
Parcel 21812N1186/00G000, Brussels · tallest building 17.6 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
BOULANGERIE Balkan Bruxelles
since 20212.317.098.485
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1186/00G000 | Brussels | 127 m² | 1 · 96 m² | 17.6 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 siteBrussel2.317.098.485
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BAKKERIJ HEIRMAN
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SARAH
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BORAIDA
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,870. 1,583 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-05-2021
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.