Active BE 0759.692.617Private limited company

BELGO BAKE

Cokeriestraat 3E ·1850 Grimbergen, Belgium· 5 yrs active

Sector: Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk (10712)

Conclusion Checked

The computed 12-month bankruptcy probability of BELGO BAKE is 4.0% (elevated). The 2024 annual accounts show negative equity (€-39k) and a net result of €-12k. Equity is shrinking by ~55.3% per year across the filed fiscal years. Its solvency ranks better than 10% of 6698 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€-39k
Net result	€-12k
Better than sector	10%
Active	5 yrs

Snowflake analysis 5 of 5 axes measured · computed by Checked

60 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 25

Profitability 100

Solvency 33

Growth 46

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

4.0% Elevated

0%0,5%1,5%4%10%≥25%

Young company +Annual accounts: weaker financial profile +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags 0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2024 · computed

25 / 100 Weak

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

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Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview4 NBB filings

Annual accounts filed on 24-09-2025 with the NBB · fiscal year 2024 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~55.3%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 47, Retail trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-82.1%	20.4%	better than 10% of 6698 sector peers
Net result	€-12k	€4k	better than 16% of 6678 sector peers
Equity	€-39k	€16k	better than 9% of 6712 sector peers
Gross operating margin	€45k	€24k	better than 64% of 6657 sector peers
Staff costs	€39k	€33k	higher than 55% of 3035 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Revenue

€271k

+11.8% 21-24

EBITDA

€4k

-41.5% 21-24

Net profit

€-12k

-73.5% 21-24

Cash flow

€4k

-12.3% 21-24

Total assets

€47k

-9.9% 21-24

Equity

€-39k

-47.7% 21-24

Working capital

€-65k

-52.6% 21-24

Staff costs

€39k

+27.5% 21-24

Income taxes

€3k

+127.0% 21-24

Debt

€85k

+9.3% 21-24

Debt ≤ 1y

€85k

+19.7% 21-24

Current ratio

0.24

-40.9% 21-24

Quick ratio

0.18

-42.6% 21-24

Solvency

-82.1%

-63.9% 21-24

Debt / equity

-2.22

+26.0% 21-24

ROE

32.3%

+17.5% 21-24

ROA

-26.5%

-92.6% 21-24

Net margin

-2.6%

+63.9% 21-24

EBITDA margin

2.8%

- 21-24

Interest coverage

24.48

-32.9% 21-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€4k
Net profit	€-12k
Cash flow	€4k
Staff costs	€39k
Income taxes	-
Dividends	-
Total assets	€47k
Equity	€-39k
Debt	€85k
of which ≤ 1y	€85k
of which > 1y	-
Working capital	€-65k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	0.24
Quick ratio	0.18
Working capital ratio	-138.7%
Solvency	-82.1%
Debt / equity	-2.22
Long-term debt ratio	-
Interest coverage	24.48
Gross margin	-
Net margin	-
ROA	-26.5%
ROE	32.3%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €27k · 56.7% Current assets €20k · 43.4%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€47k
Fixed assets	21/28	€27k
Tangible fixed assets	22/27	€27k
Current assets	29/58	€20k
Stocks & contracts in progress	3	€5k
Amounts receivable within one year	40/41	€15k
Cash & bank	54/58	€150
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€47k
Equity	10/15	€-39k
Accumulated profits (losses)	14	€-39k
Amounts payable	17/49	€85k
Amounts payable within one year	42/48	€85k
Trade debts payable within one year	44	€61k
Income statement
Gross operating margin	9900	€45k
Operating result	9901	€-12k
Financial charges	65	€182
Result before taxes	9903	€-12k
Net result for the period	9904	€-12k
Result to be appropriated	9905	€-12k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates 2 directors

Current directors & mandates

Mounir Karim
Director
State Gazette act 25117898 (18-09-2025)

Current
01-09-2025 → present

Former directors (1)

Bezih Jamal
Director
State Gazette act 25117898 (18-09-2025)

Former
- → 01-09-2025

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Legal Structure

NACE primary	Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk(10712)
Legal form	Private limited company(610)
Incorporation	11-12-2020
Status	Active
Postal code	1850

Establishment units 1 location

Cokeriestraat 3E, 1850 Grimbergen

Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk

since 20212.311.904.829

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23025B0285/00K000	Flanders	1.2 ha	1 · 9,086 m²	31.5 m

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

24-09-2025

NBB filing Annual accounts filed

fiscal year 2024 · micro

18-09-2025

State Gazette act Capital & shares

01-01-2025

NBB filing Annual accounts filed

fiscal year 2023 · micro

2023

12-11-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

31-05-2023

NBB filing Annual accounts filed

fiscal year 2021 · volledig

Belgisch Staatsblad, acts 1 acts

Capital history · 1

18-09-2025

Capital change

All acts · 1 updated 10 months ago

2025

18-09-2025 All shares are now held by a single shareholder Capital & shares

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

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Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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Company registry (CBE) Crossroads Bank

Activities

Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk10712Detailhandel in brood en banketbakkerswerk in gespecialiseerde winkels (koude bakkers)47241Detailhandel in brood en banketbakkerswerk (koude bakkers)47241

Primary activity highlighted.

Names & trade names

Legal nameNL

BELGO BAKE

Registered office

Cokeriestraat 3E

1850 Grimbergen, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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