CULINA
ActiveSummary
The computed 12-month bankruptcy probability of CULINA is 1.6% (moderate). The 2025 annual accounts show equity of €237,348 and a net result of €15,029. Equity is growing by ~26.9% per year across the filed fiscal years. Its solvency ranks better than 60% of 3770 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability72▼-11
Solvency64▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity short (current ratio 0.67 against 0.6 in 2024; short-term debt: 58.9% and cash: 17.9% of total assets), and 60.6% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 · 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
39.4%
Return on assets
2.5%
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 25-07-2026, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
6 d early
2024
7 d early
2023
31 d late
2022
24 d late
2021
31 d late
2020
22 d early
2019
4 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 7 days after 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 24 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?RAOUL GAUTHIER HOLDING · 12 companies
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 fastest grower in the province of Liège, Food and beverage service sector#9 employer in Pepinster
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€15,029▼ 76.7%
2024 · €64,374
Working capital
-€117,937▲ 7.9%
2024 · -€128,003
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€117,074▲ 57.1%-€413€45,767€108,451▲ 137%€38,141▼ 64.8%
Net result€90,284above the sector's middle half▲ 42.3%-€8,257within the sector's middle half€12,057within the sector's middle half€64,374above the sector's middle half▲ 434%€15,029within the sector's middle half▼ 76.7%
Equity€154,146within the sector's middle half▲ 141%€145,888within the sector's middle half▼ 5.4%€157,945within the sector's middle half▲ 8.3%€222,319within the sector's middle half▲ 40.8%€237,348within the sector's middle half▲ 6.8%
Total assets€542,884within the sector's middle half▲ 43.0%€608,759within the sector's middle half▲ 12.1%€657,431within the sector's middle half▲ 8.0%€547,546within the sector's middle half▼ 16.7%€603,141within the sector's middle half▲ 10.2%
Debt€388,738▲ 23.1%€462,871▲ 19.1%€499,486▲ 7.9%€325,227▼ 34.9%€365,793▲ 12.5%
Working capital-€116,102below the sector's middle half▲ 15.7%-€199,671below the sector's middle half▼ 72.0%-€201,424below the sector's middle half▼ 0.9%-€128,003below the sector's middle half▲ 36.5%-€117,937below the sector's middle half▲ 7.9%
Solvency28.4%within the sector's middle half▲ 11.6pp24.0%within the sector's middle half▼ 4.4pp24.0%within the sector's middle half▲ 0.1pp40.6%within the sector's middle half▲ 16.6pp39.4%within the sector's middle half▼ 1.3pp
Current ratio0.65within the sector's middle half▲ 0.110.51below the sector's middle half▼ 0.140.58within the sector's middle half▲ 0.070.60within the sector's middle half▲ 0.030.67within the sector's middle half▲ 0.06
Return on assets (ROA)16.6%within the sector's middle half▼ 0.1pp-1.4%within the sector's middle half▼ 18.0pp1.8%within the sector's middle half▲ 3.2pp11.8%within the sector's middle half▲ 9.9pp2.5%within the sector's middle half▼ 9.3pp
Staff (FTE)9.2within the sector's middle half▲ 46.0%11within the sector's middle half▲ 19.6%12.3within the sector's middle half▲ 11.8%13.1within the sector's middle half▲ 6.5%14.9above the sector's middle half▲ 13.7%
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.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 65% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €603,141
Fixed assets
€365,549 ▲ 3.7%
Current assets
€237,592 ▲ 21.8%
Equity and liabilities €603,141
Equity
€237,348 ▲ 6.8%
Debt
€365,793 ▲ 12.5%
Debt's share of the balance-sheet total rises from 59.4% to 60.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€134,240▼
2024 · €195,583
Cash flow
€111,128▼
2024 · €151,506
Quick ratio
0.45▲
2024 · 0.37
Debt to equity
1.54▲
2024 · 1.46
ROE
6.3%▼
2024 · 29.0%
Interest coverage
10.28▼
2024 · 16.11
Debt ≤ 1 year
€355,529▲
2024 · €323,018
Debt > 1 year
€10,264▲
2024 · €2,209
Income taxes
€10,368▼
2024 · €31,939
Staff costs
€721,647▲
2024 · €659,916
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,048 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.4%
went bankrupt
3.6%
stopped otherwise
96%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.6% 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 497,338 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% | 1.9% |
| 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 6,048 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €27,000 | - | €25,938 | - | - | - |
| Remuneration, social security and pensions62 | €381,826 | €553,844 | €657,232 | €659,916 | €721,647 | ▲ 9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €44,634 | €65,944 | €80,277 | €87,132 | €96,099 | ▲ 10.3% |
| Other operating charges640/8 | €3,560 | €6,539 | €3,351 | €3,335 | €5,067 | ▲ 51.9% |
| Non-recurring operating charges66A | - | - | - | - | €350 | - |
| Gross operating margin9900 | €547,094 | €625,914 | €786,627 | €858,834 | €861,304 | ▲ 0.3% |
| Operating profit (loss)9901 | €117,074 | -€413 | €45,767 | €108,451 | €38,141 | ▼ 64.8% |
| Financial income75/76B | - | €1,345 | €3,499 | - | €316 | - |
| Recurring financial income75 | - | €1,345 | €3,499 | - | €316 | - |
| Financial charges65/66B | €6,045 | €3,406 | €23,418 | €12,138 | €13,060 | ▲ 7.6% |
| Recurring financial charges65 | €6,045 | €2,897 | €11,418 | €12,138 | €13,060 | ▲ 7.6% |
| Non-recurring financial charges66B | - | €509 | €12,000 | - | - | - |
| Profit (loss) for the period before taxes9903 | €111,029 | -€2,474 | €25,848 | €96,313 | €25,397 | ▼ 73.6% |
| Income taxes67/77 | €20,745 | €5,783 | €13,791 | €31,939 | €10,368 | ▼ 67.5% |
| Profit (loss) for the period9904 | €90,284 | -€8,257 | €12,057 | €64,374 | €15,029 | ▼ 76.7% |
| Profit (loss) for the period to be appropriated9905 | €90,284 | -€8,257 | €12,057 | €64,374 | €15,029 | ▼ 76.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €542,884 | €608,759 | €657,431 | €547,546 | €603,141 | ▲ 10.2% |
| Fixed assets21/28 | €330,261 | €400,552 | €383,920 | €352,531 | €365,549 | ▲ 3.7% |
| Tangible fixed assets22/27 | €330,261 | €400,552 | €383,920 | €352,531 | €365,299 | ▲ 3.6% |
| Plant, machinery and equipment23 | €216,781 | €216,382 | €234,453 | €214,776 | €214,728 | = |
| Furniture and vehicles24 | €91,819 | €135,625 | €106,542 | €98,825 | €74,106 | ▼ 25.0% |
| Other tangible fixed assets26 | €21,661 | €48,545 | €42,925 | €38,930 | €76,465 | ▲ 96.4% |
| Financial fixed assets28 | - | - | - | - | €250 | - |
| Current assets29/58 | €212,623 | €208,207 | €273,511 | €195,015 | €237,592 | ▲ 21.8% |
| Stocks and contracts in progress3 | €38,259 | €49,752 | €62,165 | €74,521 | €77,760 | ▲ 4.3% |
| Stocks30/36 | €38,259 | €49,752 | €62,165 | €74,521 | €77,760 | ▲ 4.3% |
| Amounts receivable within one year40/41 | €29,468 | €47,670 | €80,634 | - | €41,144 | - |
| Trade receivables40 | €19,470 | €13,417 | €2,819 | - | €6,643 | - |
| Other amounts receivable41 | €9,998 | €34,253 | €77,815 | - | €34,501 | - |
| Cash at bank and in hand54/58 | €141,496 | €97,474 | €107,666 | €104,721 | €107,931 | ▲ 3.1% |
| Deferred charges and accrued income490/1 | €3,400 | €13,311 | €23,046 | €15,773 | €10,757 | ▼ 31.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €542,884 | €608,759 | €657,431 | €547,546 | €603,141 | ▲ 10.2% |
| Equity10/15 | €154,146 | €145,888 | €157,945 | €222,319 | €237,348 | ▲ 6.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €133,686 | €125,428 | €137,485 | €201,859 | €216,888 | ▲ 7.4% |
| Amounts payable17/49 | €388,738 | €462,871 | €499,486 | €325,227 | €365,793 | ▲ 12.5% |
| Amounts payable after more than one year17 | €60,013 | €54,993 | €24,551 | €2,209 | €10,264 | ▲ 365% |
| Financial debts170/4 | €60,013 | €54,993 | €24,551 | €2,209 | €10,264 | ▲ 365% |
| Amounts payable within one year42/48 | €328,725 | €407,878 | €474,935 | €323,018 | €355,529 | ▲ 10.1% |
| Current portion of amounts payable after more than one year42 | €22,175 | €30,166 | €30,442 | €22,342 | €5,785 | ▼ 74.1% |
| Trade debts44 | €67,671 | €83,201 | €186,022 | €91,602 | €76,709 | ▼ 16.3% |
| Suppliers440/4 | €67,671 | €83,201 | €186,022 | €91,602 | €76,709 | ▼ 16.3% |
| Advances received on contracts in progress46 | - | - | - | - | €3,046 | - |
| Taxes, remuneration and social security45 | €110,207 | €112,513 | €82,093 | €101,796 | €108,370 | ▲ 6.5% |
| Taxes450/3 | €37,919 | €34,743 | €21,157 | €45,426 | €51,399 | ▲ 13.1% |
| Remuneration and social security454/9 | €72,288 | €77,770 | €60,936 | €56,370 | €56,971 | ▲ 1.1% |
| Other amounts payable47/48 | €128,672 | €181,998 | €176,378 | €107,278 | €161,619 | ▲ 50.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,284 | -€8,257 | €12,057 | €64,374 | €15,029 | ▼ 76.7% |
| + Depreciation and write-downs630 | €44,634 | €65,944 | €80,277 | €87,132 | €96,099 | ▲ 10.3% |
| Operating cash flow (approximation) | €134,918 | €57,687 | €92,334 | €151,506 | €111,128 | ▼ 26.7% |
| Investment in fixed assets (approximation) | - | -€136,235 | -€63,645 | -€55,743 | -€109,117 | ▼ 95.8% |
| Change in cash | - | -€44,022 | €10,192 | -€2,945 | €3,210 | ▲ 209% |
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
25-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €200,000Eq €222,319 ▲40.8%
2 profitable years in a row build equity to €222,319.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-12
Financial
Back to profitnet €12,057
Net result €12,057 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €157,945 ▲8.3%
Equity rises from €145,888 to €157,945.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
31-12
Financial
Weakest financial yearnet -€8,257
Net result drops to -€8,257, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €90,284 ▲42.3%
Operating result €117,074, net result €90,284, both a record.
31-12
Financial
Equity above €150,000Eq €154,146 ▲141%
4 profitable years in a row build equity to €154,146.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
15-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 46 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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, Pepinster · 1 establishment unit since 2015
Ground area
2,287 m²
Parcel 63452D0212/00N000, Wallonia. Linked by address, not a title deed.
1 establishment unit
LAFARQUES
since 20152.247.143.669
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63452D0212/00N000 | Wallonia | 2,287 m² | - | - |
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.
Structure & network
Part of the group
RAOUL GAUTHIER HOLDING
12 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- RAOUL GAUTHIER HOLDING
- LAFARQUES
- CULINA
Highest known parent: RAOUL GAUTHIER HOLDING. The sources do not say who stands above it.
Owners 1
- LAFARQUESparentSourceaccounts LAFARQUES 202565%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 sitePepinster2.247.143.669
Similar companies · same sector, comparable size
PURA VITA
BE 0778.568.124
Antwerpen · Eq €237,403
STAPSTEEN
BE 0427.417.731
Destelbergen · Eq €237,435
Michelle Consult
BE 0687.947.655
Middelkerke · Eq €237,151
BARVEST
BE 0459.375.667
Lier · Eq €237,130
Restaurant COQUO
BE 1007.576.216
Fernelmont · Eq €237,594
Of 20,509 companies in sector 56111 we hold annual accounts for 11,464. 8,190 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
Founded21-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
55100Hotels and similar accommodation
56111Full-service restaurants
56210Event catering
Contact
E-mail
mf.giroulle@lafarques.be
Phone
+3287840177
E-invoicing
Reachable via Peppol
Peppol ID
0208:0641763579
Also
9925:BE0641763579
Registered
12-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.