CULINARY DEVELOPMENT
ActiveSummary
CULINARY DEVELOPMENT has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €65k and a net result of €17k. Equity is growing by ~26.1% per year across the filed fiscal years. Its solvency ranks better than 21% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+1
Solvency42▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.14 in 2024; short-term debt: 17.2% and cash: 0.3% of total assets), and 83.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
16.9%
Return on assets
4.3%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
57 d late
2023
30 d late
2022
29 d late
2021
25 d late
2020
20 d late
2019
60 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
Equity
€65k▲ 34.6%
2024 · €48k
2018: €12klowest in 8 years
2019: €23k▲ +92.6% vs 2018
2020: €20k▼ -14.3% vs 2019
2021: €13k▼ -32.9% vs 2020
2022: €27k▲ +101% vs 2021
2023: €36k▲ +31.8% vs 2022
2024: €48k▲ +35.1% vs 2023
2025: €65k▲ +34.6% vs 2024highest in 8 years
2018 → 2025
Total assets
€384k▼ 3.9%
2024 · €400k
2018: €471khighest in 8 years
2019: €459k▼ -2.5% vs 2018
2020: €449k▼ -2.3% vs 2019
2021: €436k▼ -2.8% vs 2020
2022: €423k▼ -3.0% vs 2021
2023: €411k▼ -2.9% vs 2022
2024: €400k▼ -2.7% vs 2023
2025: €384k▼ -3.9% vs 2024lowest in 8 years
2018 → 2025
Net result
€17k▲ 32.9%
2024 · €13k
2018: €9k
2019: €11k▲ +21.3% vs 2018
2020: €-3k▼ -130% vs 2019
2021: €-7k▼ -97.5% vs 2020lowest in 8 years
2022: €14k▲ +306% vs 2021
2023: €9k▼ -36.7% vs 2022
2024: €13k▲ +45.6% vs 2023
2025: €17k▲ +32.9% vs 2024highest in 8 years
2018 → 2025
Working capital
€-59k▼ 4.9%
2024 · €-56k
2018: €-38k
2019: €-26k▲ +30.5% vs 2018
2020: €-17k▲ +36.8% vs 2019highest in 8 years
2021: €-51k▼ -211% vs 2020
2022: €-49k▲ +3.9% vs 2021
2023: €-57k▼ -16.4% vs 2022
2024: €-56k▲ +2.0% vs 2023
2025: €-59k▼ -4.9% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€13k-€27k▲ 101%€36k▲ 31.8%€48k▲ 35.1%€65k▲ 34.6%
2021: €13klowest in 5 years
2022: €27k▲ +101% vs 2021
2023: €36k▲ +31.8% vs 2022
2024: €48k▲ +35.1% vs 2023
2025: €65k▲ +34.6% vs 2024highest in 5 years
Operating result€1k-€21k▲ 1,535%€21k▲ 1.7%€24k▲ 12.5%€30k▲ 23.7%
2021: €1klowest in 5 years
2022: €21k▲ +1535% vs 2021
2023: €21k▲ +1.7% vs 2022
2024: €24k▲ +12.5% vs 2023
2025: €30k▲ +23.7% vs 2024highest in 5 years
Net result€-7k-€14k€9k▼ 36.7%€13k▲ 45.6%€17k▲ 32.9%
2021: €-7klowest in 5 years
2022: €14k▲ +306% vs 2021
2023: €9k▼ -36.7% vs 2022
2024: €13k▲ +45.6% vs 2023
2025: €17k▲ +32.9% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 24% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €384k
Fixed assets
€377k ▼ 3.3%
Current assets
€7k ▼ 27.2%
Equity and liabilities €384k
Equity
€65k ▲ 34.6%
Debt
€319k ▼ 9.2%
Debt's share of the balance-sheet total falls from 88.0% to 83.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€42k▲
2024 · €37k
Cash flow
€30k▲
2024 · €25k
Current ratio
0.10▼
2024 · 0.14
Debt to equity
4.93▼
2024 · 7.31
ROE
25.7%▼
2024 · 26.0%
ROA
4.3%▲
2024 · 3.1%
Interest coverage
8.49▲
2024 · 7.37
Debt ≤ 1 year
€66k▲
2024 · €66k
Debt > 1 year
€253k▼
2024 · €282k
Income taxes
€8k▲
2024 · €6k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €13k | €15k | €13k | €13k | = |
| Other operating charges640/8 | €2k | - | €732 | €2k | €1k | ▼ 44.5% |
| Gross operating margin9900 | €16k | €34k | €37k | €39k | €44k | ▲ 12.1% |
| Operating profit (loss)9901 | €1k | €21k | €21k | €24k | €30k | ▲ 23.7% |
| Financial charges65/66B | €8k | €5k | €9k | €5k | €5k | ▲ 0.1% |
| Recurring financial charges65 | €8k | €5k | €9k | €5k | €5k | ▲ 0.1% |
| Profit (loss) for the period before taxes9903 | €-7k | €16k | €12k | €19k | €24k | ▲ 30.0% |
| Income taxes67/77 | €50 | €3k | €3k | €6k | €8k | ▲ 24.2% |
| Profit (loss) for the period9904 | €-7k | €14k | €9k | €13k | €17k | ▲ 32.9% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €14k | €9k | €13k | €17k | ▲ 32.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €436k | €423k | €411k | €400k | €384k | ▼ 3.9% |
| Formation expenses20 | - | - | €0 | - | - | - |
| Fixed assets21/28 | €429k | €416k | €403k | €390k | €377k | ▼ 3.3% |
| Tangible fixed assets22/27 | €429k | €416k | €403k | €390k | €377k | ▼ 3.3% |
| Land and buildings22 | €429k | €416k | €403k | €390k | €377k | ▼ 3.3% |
| Current assets29/58 | €7k | €7k | €7k | €9k | €7k | ▼ 27.2% |
| Amounts receivable within one year40/41 | €7k | €6k | €6k | - | €2k | - |
| Trade receivables40 | €7k | €6k | €6k | - | €2k | - |
| Cash at bank and in hand54/58 | €291 | €1k | €2k | €9k | €1k | ▼ 88.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €4k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €436k | €423k | €411k | €400k | €384k | ▼ 3.9% |
| Equity10/15 | €13k | €27k | €36k | €48k | €65k | ▲ 34.6% |
| Contributions10/11 | €12k | €12k | €14k | €14k | €14k | = |
| Capital10 | €12k | €12k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Uncalled capital101 | €6k | €6k | - | - | - | - |
| Reserves13 | €1k | €1k | - | €12k | €28k | ▲ 133% |
| Non-distributable reserves130/1 | €1k | €1k | - | - | - | - |
| Legal reserve130 | €1k | €1k | - | - | - | - |
| Distributable reserves133 | - | - | - | €12k | €28k | ▲ 133% |
| Profit (loss) carried forward14 | €-201 | €13k | €22k | €22k | €23k | ▲ 2.8% |
| Amounts payable17/49 | €423k | €396k | €375k | €352k | €319k | ▼ 9.2% |
| Amounts payable after more than one year17 | €364k | €340k | €310k | €282k | €253k | ▼ 10.2% |
| Financial debts170/4 | €281k | €256k | €227k | €199k | €170k | ▼ 14.4% |
| Other amounts payable178/9 | €83k | €83k | €83k | €83k | €83k | = |
| Amounts payable within one year42/48 | €58k | €56k | €65k | €66k | €66k | ▲ 0.3% |
| Current portion of amounts payable after more than one year42 | €42k | €38k | €28k | €28k | €31k | ▲ 12.0% |
| Trade debts44 | €9k | €9k | €12k | €12k | €12k | ▲ 2.2% |
| Suppliers440/4 | €9k | €9k | €12k | €12k | €12k | ▲ 2.2% |
| Taxes, remuneration and social security45 | €2k | €3k | €6k | €6k | €3k | ▼ 54.7% |
| Taxes450/3 | €2k | €3k | €6k | €6k | €3k | ▼ 54.7% |
| Other amounts payable47/48 | €6k | €7k | €20k | €20k | €20k | = |
| Accrued charges and deferred income492/3 | - | - | - | €4k | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €14k | €9k | €13k | €17k | ▲ 32.9% |
| + Depreciation and write-downs630 | €13k | €13k | €15k | €13k | €13k | = |
| Operating cash flow (approximation) | €6k | €27k | €23k | €25k | €30k | ▲ 16.2% |
| Investment in fixed assets (approximation) | - | €0 | €-2k | €0 | €0 | - |
| Change in cash | - | €1k | €538 | €8k | €-8k | ▼ 211% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Highest result since 2018net €17k ▲32.9%
Operating result €30k, net result €17k, both a record.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Back to profitnet €14k
Net result €14k after 2 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 60 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
13-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 225 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Watermaal-Bosvoorde · 1 establishment unit since 2012
Ground area
186 m²
Building footprint
164 m²
Volume, LiDAR
1,851 m³
2 parcels, Brussels · tallest building 20.7 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
CLINARY DEVELOPMENT
since 20122.217.578.762
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0230/00F004 | Brussels | 98 m² | 1 · 87 m² | 20.7 m · 6 fl. |
| 21652F0028/04A000 | Brussels | 88 m² | 1 · 77 m² | 10.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,575. 39,323 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
Founded19-12-2012
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
Phone
0474/696465
Scores and ratios are computed by Checked and are not a credit decision.