Active BE 0744.906.550Private limited company

BZL

Handelstraat 18 ·2060 Antwerpen, Belgium· 6 yrs active

Sector: Limited-service restaurants, excluding mobile food services (56112)

Conclusion Checked

The computed 12-month bankruptcy probability of BZL is 5.2% (elevated). The 2024 annual accounts show equity of €11k and a net result of €-5k. Equity is shrinking by ~22.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 89% of 18938 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	€11k
Net result	€-5k
Better than sector	89%
Active	6 yrs

Financial profile 5 of 5 axes measured · computed by Checked

47 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 27

Profitability 0

Solvency 74

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

5.2% Elevated

0%0,5%1,5%4%10%≥25%

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 Flags0 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.

Checked score FY 2024 · computed

27 / 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.

Indicative credit limit

€500

estimate, not credit advice

Score history

55 2021

52 2022

60 2023

27 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.85 (< 1.0) -10

Leverage Debt/equity 0.28 (< 1.0) +10

Profitability Negatieve ROE -50% -10

Interest coverage Interest coverage -693.0× (< 1.5×) -10

Profit trend Net profit down YoY -3

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

Financial overview5 NBB filings

Annual accounts filed on 28-06-2025 with the NBB · fiscal year 2024 · micro schema

Operating resultNet result

Trajectory (indicative)

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

declining At this pace, equity would indicatively turn negative around fiscal year 2027, 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 56, Food and beverage service activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	78.0%	29.1%	better than 89% of 18938 sector peers
Net result	€-5k	€5k	better than 24% of 18916 sector peers
Equity	€11k	€27k	better than 37% of 18977 sector peers
Gross operating margin	€-2k	€60k	better than 9% of 18876 sector peers
Total assets	€14k	€111k	better than 8% of 18942 sector peers

EBITDA

€-3k

-312.7% 21-24

Net profit

€-5k

-49.0% 21-24

Cash flow

€-3k

-245.5% 21-24

Total assets

€14k

-24.8% 21-24

Equity

€11k

-33.1% 21-24

Working capital

€-471

- 21-24

Debt

€3k

+34.5% 21-24

Debt ≤ 1y

€3k

+34.5% 21-24

Current ratio

0.85

-55.1% 21-24

Quick ratio

0.85

-55.1% 21-24

Solvency

78.0%

-11.1% 21-24

Debt / equity

0.28

+101.1% 21-24

ROE

-49.5%

-122.8% 21-24

ROA

-38.6%

-98.2% 21-24

Interest coverage

-693.01

-13507.1% 21-24

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	€-3k	€-611	€-2k	€-1k
Net profit	€-5k	€-4k	€-4k	€-3k
Cash flow	€-3k	€-731	€-2k	€-1k
Staff costs	-	-	-	-
Income taxes	-	-	-	-
Dividends	-	-	-	-
Total assets	€14k	€19k	€22k	€27k
Equity	€11k	€16k	€20k	€24k
Debt	€3k	€2k	€2k	€3k
of which ≤ 1y	€3k	€2k	€2k	€3k
of which > 1y	-	-	-	-
Working capital	€-471	€2k	€3k	€19k
Employees (FTE)	-	-	-	-

Ratios (computed)

	2024	2023	2022	2021
Current ratio	0.85	1.89	2.20	8.19
Quick ratio	0.85	1.89	2.20	8.19
Working capital ratio	-3.3%	10.9%	12.4%	70.4%
Solvency	78.0%	87.7%	89.7%	90.2%
Debt / equity	0.28	0.14	0.11	0.11
Long-term debt ratio	-	-	-	-
Interest coverage	-693.01	-5.09	-14.51	-8.63
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	-38.6%	-19.5%	-17.7%	-10.0%
ROE	-49.5%	-22.2%	-19.8%	-11.1%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	122d	-	64d	248d
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €11k · 81.1% Current assets €3k · 18.9%

Equity & liabilities

Equity €11k · 78.0% Debt €3k · 22.0%

Full annual accounts (20 line items)

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

Line item	Code	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€14k	€19k	€22k	€27k
Fixed assets	21/28	€11k	€14k	€16k	€4k
Formation expenses	20	€176	€533	€890	€1k
Tangible fixed assets	22/27	€11k	€14k	€16k	€4k
Current assets	29/58	€3k	€4k	€5k	€21k
Amounts receivable within one year	40/41	€2k	€985	€288	€4k
Cash & bank	54/58	€585	€3k	€5k	€17k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€14k	€19k	€22k	€27k
Equity	10/15	€11k	€16k	€20k	€24k
Contributions / capital	10/11	€15k	€15k	€15k	€15k
Accumulated profits (losses)	14	€-4k	€1k	€5k	€9k
Amounts payable	17/49	€3k	€2k	€2k	€3k
Amounts payable within one year	42/48	€3k	€2k	€2k	€3k
Trade debts payable within one year	44	€798	-	€283	€590
Income statement
Gross operating margin	9900	€-2k	€-548	€-2k	€-870
Operating result	9901	€-5k	€-4k	€-4k	€-3k
Financial charges	65	€4	€120	€122	€120
Result before taxes	9903	€-5k	€-4k	€-4k	€-3k
Net result for the period	9904	€-5k	€-4k	€-4k	€-3k
Result to be appropriated	9905	€-5k	€-4k	€-4k	€-3k

Directors & mandates 2 directors

Current directors & mandates

Issam Bouzelmat
Director
State Gazette act 25108755 (27-08-2025)

Current
30-06-2025 → present

Former directors (1)

Azzouz Bouzelmat
Director
State Gazette act 25108755 (27-08-2025)

Former
- → 30-06-2025

Legal Structure

NACE primary	Limited-service restaurants, excluding mobile food services(56112)
Legal form	Private limited company(610)
Incorporation	10-03-2020
Status	Active
Postal code	2060

Establishment units 1 location

BZL

Handelstraat 18, 2060 AntwerpenFull-service restaurants

since 20202.300.265.621

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11805E0441/00L015indicative	Flanders	94 m²	1 · 78 m²	15.1 m · 3 fl.

Methodology

via registered seat: 1

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

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

Updates 6 events

All 7Financial 1Gazette 1Filings 5

2025

27-08

State Gazette act Director changes

28-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Weakest financial yearnet €-5k

Net result drops to €-5k, the lowest in the series.

02-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 2 days late

2023

30-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

12-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

14-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 1 year ago

2025

27-08-2025 1 director appointed, 1 resigning Director changes

Issam Bouzelmat, Bestuurder
Azzouz Bouzelmat, Bestuurder

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "director_out",
      "role": "bestuurder",
      "person": {
        "rrn": "71.00.01-869.10",
        "name": "Azzouz Bouzelmat",
        "address": "Duinstraat 32, 2060 Antwerpen",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "regular",
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": "2025-06-30",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    },
    {
      "kind": "director_in",
      "role": "bestuurder",
      "person": {
        "rrn": "07.03.29-445.46",
        "name": "Issam Bouzelmat",
        "address": "Duinstraat 32, 2060 Antwerpen",
        "birth_date": null,
        "profession": null,
        "birth_place": null
      },
      "reason": null,
      "subkind": "regular",
      "via_org": null,
      "statutory": null,
      "compensated": null,
      "effective_date": "2025-06-30",
      "evidence_quote": "",
      "decharge_status": null,
      "mandate_duration": null,
      "rep_rotation_new_rep": null,
      "rep_rotation_old_rep": null,
      "effective_date_qualifier": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Antwerpen",
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2025-08-27",
    "filing_date": "2025-08-14",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decisions": [
    {
      "body": "bijzondere_algemene_vergadering",
      "date": "2025-06-30",
      "unanimous": null
    }
  ],
  "is_correction": false,
  "subject_company": {
    "kbo": "0744.906.550",
    "name_full": null,
    "legal_form": "BV"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Issam Bouzelmat",
    "org_rep_person_name": null,
    "person_role_at_subject": "Bestuurder"
  },
  "co_filed_documents": [],
  "corrected_publication_numac": null
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Limited-service restaurants56102Limited-service restaurants, excluding mobile food services56112

Names & trade names

Legal nameNL

BZL

Similar companies Comparable size · 9,156 of 21,676 companies in this sector with filed accounts

Bricks Agency BE 0810.266.734 · Gent

HERPOEL-LAGROU BE 0831.022.358 · Blankenberge

RAYANZO BE 0773.910.441 · Sint-Joost-ten-Node

COCOON ARLON BE 0843.616.918 · Arlon

L’Original Sandwich Bar BE 0744.884.279 · Wanze