BILGIC
ActiveSummary
The computed 12-month bankruptcy probability of BILGIC is 7.8% (elevated). The 2025 annual accounts show negative equity (€-12k) and a net result of €-44k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 13417 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-46
Solvency0▼-100
Growth26▼-30
Track record100
Bankruptcy probability, 12 months
7.8%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Age of the figures
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-12k
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 05-06-2026, 56 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
56 d early
2024
31 d early
2023
282 d late
2022
13 d early
2021
67 d early
2020
10 d early
2019
6 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, micro schema
Turnover
€184k▼ 65.9%
2022 · €539k
EBIT margin
-4.4%▼ 13.2pp
2022 · 8.8%
Net result
€-44k▼ 4,514%
2024 · €-946
Working capital
€-12k▼ 552%
2024 · €-2k
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
Turnover€284k▲ 88.4%€539k▲ 89.7%€184k▼ 65.9%
Operating result€42k€47k▲ 12.7%€-8k€3k€-41k
Net result€34k€31k▼ 8.8%€-14k€-946▲ 93.1%€-44k▼ 4,514%
EBIT margin14.8%▲ 31.8pp8.8%▼ 6.0pp-4.4%▼ 13.2pp
Equity€15k€47k▲ 206%€33k▼ 29.3%€32k▼ 2.9%€-12k
Total assets€195k▲ 61.5%€226k▲ 16.2%€49k▼ 78.1%€35k▼ 29.8%€932▼ 97.3%
Debt€180k▲ 28.5%€180k▲ 0.1%€16k▼ 90.8%€3k▼ 83.6%€13k▲ 362%
Working capital€-65k▲ 41.3%€-40k▲ 38.2%€-13k▲ 68.5%€-2k▲ 86.0%€-12k▼ 552%
Staff (FTE)2.4▲ 118%4.3▲ 79.2%1.7▼ 60.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €41k after €3k in 2024, the lowest result in the available series.
Key figures and ratios
Debt ≤ 1 year
€13k▲
2024 · €3k
Ratios withheld: a balance sheet total of €932 is too small for a meaningful ratio.
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €284k | €539k | €184k | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €200k | €407k | €151k | €7k | €5k | ▼ 21.9% |
| Remuneration, social security and pensions62 | €26k | €45k | €12k | €572 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30k | €36k | €38k | €12k | - | - |
| Other operating charges640/8 | €4k | €7k | €11k | €737 | €35k | ▲ 4,709% |
| Gross operating margin9900 | €102k | €135k | €53k | €16k | €-5k | ▼ 133% |
| Operating profit (loss)9901 | €42k | €47k | €-8k | €3k | €-41k | ▼ 1,423% |
| Financial income75/76B | - | €0 | €2 | €36 | €0 | ▼ 98.6% |
| Recurring financial income75 | - | €0 | €2 | €36 | €0 | ▼ 98.6% |
| Financial charges65/66B | €3k | €6k | €6k | €4k | €3k | ▼ 31.6% |
| Recurring financial charges65 | €3k | €6k | €6k | €4k | €3k | ▼ 31.6% |
| Profit (loss) for the period before taxes9903 | €39k | €41k | €-14k | €-946 | €-44k | ▼ 4,514% |
| Income taxes67/77 | €5k | €10k | - | - | - | - |
| Profit (loss) for the period9904 | €34k | €31k | €-14k | €-946 | €-44k | ▼ 4,514% |
| Profit (loss) for the period to be appropriated9905 | €34k | €31k | €-14k | €-946 | €-44k | ▼ 4,514% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €195k | €226k | €49k | €35k | €932 | ▼ 97.3% |
| Fixed assets21/28 | €81k | €87k | €46k | €34k | - | - |
| Intangible fixed assets21 | €58k | €30k | €2k | - | - | - |
| Tangible fixed assets22/27 | €22k | €57k | €44k | €34k | - | - |
| Plant, machinery and equipment23 | €2k | €32k | €24k | €20k | - | - |
| Furniture and vehicles24 | €20k | €25k | €19k | €14k | - | - |
| Current assets29/58 | €114k | €139k | €4k | €932 | €932 | = |
| Stocks and contracts in progress3 | €3k | €3k | - | - | - | - |
| Stocks30/36 | €3k | €3k | - | - | - | - |
| Amounts receivable within one year40/41 | €11k | €77k | €1k | €907 | €923 | ▲ 1.7% |
| Trade receivables40 | €11k | €69k | - | - | - | - |
| Other amounts receivable41 | - | €8k | €1k | €907 | €923 | ▲ 1.7% |
| Cash at bank and in hand54/58 | €100k | €60k | €2k | €25 | €9 | ▼ 64.9% |
| Deferred charges and accrued income490/1 | €532 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €195k | €226k | €49k | €35k | €932 | ▼ 97.3% |
| Equity10/15 | €15k | €47k | €33k | €32k | €-12k | ▼ 136% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Outside capital11 | €12k | €12k | €12k | €12k | €12k | = |
| Other1109/19 | €12k | €12k | €12k | €12k | €12k | = |
| Profit (loss) carried forward14 | €3k | €34k | €21k | €20k | €-24k | ▼ 222% |
| Amounts payable17/49 | €180k | €180k | €16k | €3k | €13k | ▲ 362% |
| Amounts payable within one year42/48 | €180k | €180k | €16k | €3k | €13k | ▲ 362% |
| Financial debts43 | - | €6 | - | - | - | - |
| Credit institutions430/8 | - | €6 | - | - | - | - |
| Trade debts44 | €38k | €108k | - | - | - | - |
| Suppliers440/4 | €38k | €108k | - | - | - | - |
| Taxes, remuneration and social security45 | €50k | €72k | €16k | €3k | - | - |
| Taxes450/3 | €21k | €27k | €16k | €3k | - | - |
| Remuneration and social security454/9 | €29k | €45k | - | - | - | - |
| Other amounts payable47/48 | €91k | - | - | - | €13k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34k | €31k | €-14k | €-946 | €-44k | ▼ 4,514% |
| + Depreciation and write-downs630 | €30k | €36k | €38k | €12k | - | - |
| Operating cash flow (approximation) | €64k | €67k | €24k | €11k | €-44k | ▼ 498% |
| Investment in fixed assets (approximation) | - | €-42k | €3k | €0 | - | - |
| Change in cash | - | €-40k | €-57k | €-2k | €-16 | ▲ 99.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-44k
Net result drops to €-44k, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
09-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 282 days late
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €34k
Net result €34k after 2 loss-making years.
21-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 6 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Antwerpen · 1 establishment unit since 2019
Ground area
135 m²
Building footprint
108 m²
Volume, LiDAR
821 m³
Parcel 11003A0182/00S005, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
PITAZZA
since 20192.284.747.601
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11003A0182/00S005 | Flanders | 135 m² | 1 · 108 m² | 10.2 m · 3 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 siteAntwerpen2.284.747.601
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Of 21,861 companies in sector 56112 we hold annual accounts for 9,773. 8,409 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
Founded28-01-2019
Fiscal year end31-12
Legal name NL
ELSEM
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.