CIRO
ActiveSummary
CIRO has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41,403 and a net result of -€6,192. Equity is shrinking by ~15.1% per year across the filed fiscal years. Its solvency ranks better than 74% of 13874 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▼-64
Solvency83▲+5
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity ample (current ratio 2.12 against 2.36 in 2024; short-term debt: 32.9% and cash: 63.3% of total assets), and 41.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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 →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 2025Solvency, return and age of the figures
Solvency
58.5%
Return on assets
-8.7%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
8 d early
2023
8 d early
2022
6 d early
2021
53 d early
2020
9 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 16 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 23 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close01-10-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€41,403▼ 13.0%
2024 · €47,595
Total assets
€70,802▼ 20.9%
2024 · €89,534
Net result
-€6,192
2024 · €2,449
Working capital
€26,149▼ 28.9%
2024 · €36,754
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€25,474-€20,351▲ 20.1%-€1,204▲ 94.1%€3,548-€10,268
Net result-€24,386below the sector's middle half-€20,720below the sector's middle half▲ 15.0%-€2,056within the sector's middle half▲ 90.1%€2,449within the sector's middle half-€6,192below the sector's middle half
Equity€67,922within the sector's middle half▼ 26.4%€47,202within the sector's middle half▼ 30.5%€45,146within the sector's middle half▼ 4.4%€47,595within the sector's middle half▲ 5.4%€41,403within the sector's middle half▼ 13.0%
Total assets€93,964within the sector's middle half▼ 24.2%€101,837within the sector's middle half▲ 8.4%€83,883within the sector's middle half▼ 17.6%€89,534within the sector's middle half▲ 6.7%€70,802within the sector's middle half▼ 20.9%
Debt€26,042▼ 17.9%€54,635▲ 110%€38,737▼ 29.1%€41,940▲ 8.3%€29,399▼ 29.9%
Working capital€53,454above the sector's middle half▼ 24.3%€35,879within the sector's middle half▼ 32.9%€35,411within the sector's middle half▼ 1.3%€36,754within the sector's middle half▲ 3.8%€26,149within the sector's middle half▼ 28.9%
Solvency72.3%above the sector's middle half▼ 2.1pp46.4%within the sector's middle half▼ 25.9pp53.8%within the sector's middle half▲ 7.5pp53.2%within the sector's middle half▼ 0.7pp58.5%within the sector's middle half▲ 5.3pp
Current ratio3.40above the sector's middle half▼ 0.712.03within the sector's middle half▼ 1.372.46above the sector's middle half▲ 0.432.36above the sector's middle half▼ 0.102.12within the sector's middle half▼ 0.24
Return on assets (ROA)-26.0%below the sector's middle half▼ 33.7pp-20.3%below the sector's middle half▲ 5.6pp-2.5%within the sector's middle half▲ 17.9pp2.7%within the sector's middle half▲ 5.2pp-8.7%below the sector's middle half▼ 11.5pp
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
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 €10,268 after €3,548 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €70,802
Fixed assets
€21,362 ▼ 17.0%
Current assets
€49,441 ▼ 22.5%
Equity and liabilities €70,802
Equity
€41,403 ▼ 13.0%
Debt
€29,399 ▼ 29.9%
Debt's share of the balance-sheet total falls from 46.8% to 41.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,685▼
2024 · €11,784
Cash flow
€2,391▼
2024 · €10,685
Quick ratio
1.99▼
2024 · 2.25
Debt to equity
0.71▼
2024 · 0.88
ROE
-15.0%▼
2024 · 5.1%
Interest coverage
-1.49▼
2024 · 12.62
Debt ≤ 1 year
€23,291▼
2024 · €27,036
Debt > 1 year
€6,108▼
2024 · €14,903
Income taxes
€166▲
2024 · €165
Staff costs
€665
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €549 | - | - | €665 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,937 | €16,610 | €6,812 | €8,236 | €8,583 | ▲ 4.2% |
| Other operating charges640/8 | - | €2,610 | €2,634 | €2,514 | €3,053 | ▲ 21.4% |
| Gross operating margin9900 | -€10,244 | -€583 | €8,242 | €14,298 | €2,033 | ▼ 85.8% |
| Operating profit (loss)9901 | -€25,474 | -€20,351 | -€1,204 | €3,548 | -€10,268 | ▼ 389% |
| Financial income75/76B | - | €0 | €28 | - | €5,375 | - |
| Recurring financial income75 | €1,654 | €0 | €28 | - | €5,375 | - |
| Financial charges65/66B | - | €369 | €648 | €934 | €1,133 | ▲ 21.3% |
| Recurring financial charges65 | €153 | €369 | €648 | €934 | €1,133 | ▲ 21.3% |
| Profit (loss) for the period before taxes9903 | -€23,973 | -€20,720 | -€1,824 | €2,614 | -€6,026 | ▼ 331% |
| Income taxes67/77 | €413 | - | €232 | €165 | €166 | ▲ 0.3% |
| Profit (loss) for the period9904 | -€24,386 | -€20,720 | -€2,056 | €2,449 | -€6,192 | ▼ 353% |
| Profit (loss) for the period to be appropriated9905 | -€24,386 | -€20,720 | -€2,056 | €2,449 | -€6,192 | ▼ 353% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €93,964 | €101,837 | €83,883 | €89,534 | €70,802 | ▼ 20.9% |
| Fixed assets21/28 | €18,216 | €30,992 | €24,180 | €25,744 | €21,362 | ▼ 17.0% |
| Tangible fixed assets22/27 | €15,677 | €28,453 | €21,641 | €23,205 | €18,822 | ▼ 18.9% |
| Plant, machinery and equipment23 | - | €4,185 | €2,668 | €1,633 | €4,505 | ▲ 176% |
| Furniture and vehicles24 | - | €24,268 | €18,973 | €21,572 | €14,317 | ▼ 33.6% |
| Financial fixed assets28 | €2,539 | €2,539 | €2,539 | €2,539 | €2,539 | = |
| Current assets29/58 | €75,747 | €70,845 | €59,703 | €63,790 | €49,441 | ▼ 22.5% |
| Stocks and contracts in progress3 | €1,500 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Stocks30/36 | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Amounts receivable within one year40/41 | €3,935 | €6 | - | - | €918 | - |
| Trade receivables40 | - | - | - | - | €760 | - |
| Other amounts receivable41 | - | €6 | - | - | €159 | - |
| Cash at bank and in hand54/58 | €67,784 | €65,991 | €54,139 | €60,288 | €44,796 | ▼ 25.7% |
| Deferred charges and accrued income490/1 | - | €1,849 | €2,564 | €502 | €726 | ▲ 44.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €93,964 | €101,837 | €83,883 | €89,534 | €70,802 | ▼ 20.9% |
| Equity10/15 | €67,922 | €47,202 | €45,146 | €47,595 | €41,403 | ▼ 13.0% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €30,308 | €30,308 | €30,308 | €30,308 | €30,308 | = |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | €24,108 | €24,108 | €24,108 | €24,108 | = |
| Profit (loss) carried forward14 | -€24,386 | -€45,107 | -€47,162 | -€44,714 | -€50,905 | ▼ 13.8% |
| Amounts payable17/49 | €26,042 | €54,635 | €38,737 | €41,940 | €29,399 | ▼ 29.9% |
| Amounts payable after more than one year17 | €3,401 | €19,669 | €14,445 | €14,903 | €6,108 | ▼ 59.0% |
| Financial debts170/4 | - | €19,669 | €14,445 | €14,903 | €6,108 | ▼ 59.0% |
| Amounts payable within one year42/48 | €22,293 | €34,966 | €24,292 | €27,036 | €23,291 | ▼ 13.9% |
| Current portion of amounts payable after more than one year42 | - | €8,523 | €5,224 | €8,385 | €8,796 | ▲ 4.9% |
| Trade debts44 | €4,161 | €10,147 | €687 | €1,963 | - | - |
| Suppliers440/4 | - | €10,147 | €687 | €1,963 | - | - |
| Taxes, remuneration and social security45 | - | €1,820 | €3,839 | €3,774 | €1,792 | ▼ 52.5% |
| Taxes450/3 | - | €1,820 | €3,839 | €3,774 | €1,792 | ▼ 52.5% |
| Other amounts payable47/48 | - | €14,476 | €14,542 | €12,914 | €12,704 | ▼ 1.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€24,386 | -€20,720 | -€2,056 | €2,449 | -€6,192 | ▼ 353% |
| + Depreciation and write-downs630 | €13,937 | €16,610 | €6,812 | €8,236 | €8,583 | ▲ 4.2% |
| Operating cash flow (approximation) | -€10,449 | -€4,110 | €4,756 | €10,685 | €2,391 | ▼ 77.6% |
| Investment in fixed assets (approximation) | - | -€29,386 | €0 | -€9,800 | -€4,200 | ▲ 57.1% |
| Change in cash | - | -€1,793 | -€11,852 | €6,149 | -€15,492 | ▼ 352% |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €2,449
Net result €2,449 after 3 loss-making years.
22-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet -€24,386
Net result drops to -€24,386, the lowest in the series; recovery starts the following year.
21-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2019net €9,573 ▲1.6%
Operating result €10,795, net result €9,573, both a record.
01-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
No directors read yet: 0 of 14 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Merelbeke-Melle · 1 establishment unit since 2003
Ground area
358 m²
Building footprint
373 m²
Volume, LiDAR
2,179 m³
Parcel 44412B0314/00N003, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Hundelgemsesteenweg 764, 9820 Merelbeke-Melle
since 20032.126.498.336
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44412B0314/00N003 | Flanders | 358 m² | 1 · 373 m² | 10.5 m · 2 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.
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Of 13,991 companies in this sector we hold annual accounts for 4,899. 4,107 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded13-02-2003
Fiscal year end30-09
Activities, NACEBEL 2025
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479532663
Also
9925:BE0479532663
Registered
14-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.