Equity
€18,600 from €225,980 in 2017
Equity fell by 92% in 8 years.
DEPICO
Lifetime
19 annual accounts with figures on one time axis, 23 filings since 2003peak €1.4m (2014)
-not published
lowest -€49,790 (2012)
€32,238▼ 67.6%
peak €225,980 (2017)
€18,600▼ 81.8%
€830,461▼ 7.7%
peak 25.8 FTE (2013)
20.4 FTE▲ 2.5%
Board1 name since 2011
1 directorPIAMAN
Owners
99.46%PIAMAN
Documentsfilings and deeds
01-07-202630 days before the deadline
2025financial year
Result from €99,525 to €32,238Dividend €116,026Equity from €102,388 to €18,600
Key points
from the 2025 annual accountsDebts
€830,461 98% of the balance sheet
Financial debts 17%Suppliers 44%Taxes and wages 12%Other 27%
Of this, €673,565 falls due within a year.
Investments
€51,380 0.4 × depreciation
Green is investment, beige is depreciation.
Staff
22 employees on 31-12-2025
In 2025, 21 people joined and 16 left. On top of that, 8.7 agency workers worked there on average.
Filings
23 annual accounts since 2003
The 2018 accounts came 5 days late. The other nine of the last ten were filed on time.
At the same address
5 companies
Checked score
69
Healthy
Financially stronger than 31% of small companies in food and beverage service (NACE 56)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.9% across 1,614 companies (NACE 56, small).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.3%▼ -0.1 percentage points vs 05-2025lowest value
07-2025: 0.4%▲ +0.1 percentage points vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.4%● unchanged vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.2 percentage points vs 07-2026highest value
09-2026: 0.6%● unchanged vs 08-2026highest value
10-2026: 0.6%● unchanged vs 09-2026highest value
11-2026: 0.6%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Equity €18,600 (2.2% of total assets)
Sector: Food and beverage service activities (NACE 56)
lowers risk
Liquidity: current ratio 0.64, cash €325,451
Founded in 2002
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, small). It does better than 17% of them on solvency, 62% on liquidity, 36% on profitability and 8% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,217 companies had the same profile as DEPICO has now. Each dot stands for 4 companies, two years later.
95.9%
were still trading
2.5%
stopped another way
1.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEPICO itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,217 companies, not a prediction for DEPICO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.64 (0.74 in 2024), below 1. Short-term debt is 79.3% and cash 38.3% of total assets. 97.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 963 sector peers (2025).
NBB · sector comparisonPosition among 963 sector peers
Solvency
better than 24%
← weakest
strongest →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 days early
2024
31 days early
2023
28 days early
2022
17 days early
2021
31 days early
2020
30 days early
2019
14 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 26 days before the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0477942853
Permanent representative: VERHELST Peter Maria Theofiel
“De vennootschap heeft geen ander doel dan aan haar aandeelhouders een rechtstreeks of onrechtstreeks…” (deed in Dutch) · General meeting of 30-09-2020 · Gazette deed
First establishment
DEPICO - MC DONALD'S RESTAURANT, Antwerpsesteenweg 29, Aartselaar
Incorporation
published on 02-08-2002 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| DEPICO Aartselaar | €5.1m | 1.7% | 2.2% | 20.4 |
| LAUXIA Halle | €5.2m | 0.3% | 44.6% | 20.4 |
| THAICO Ixelles | €2.3m | 1.1% | 31.0% | 19.5 |
| ROYAL RACING CLUB DE BRUXELLES Uccle | €2.8m | 1.5% | -9.0% | 17.8 |
| LEENA Liège | €3.0m | -4.8% | -104.9% | 23.7 |
| Five Guys Belgium BV Brussels | €5.5m | -6.7% | -104.6% | 18.2 |
| JAWI Antwerp | €1.9m | 3.9% | 53.6% | 22.6 |
Grey: the largest companies of the sector (food and beverage service (NACE 56)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as DEPICO: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €473,000 and €1.5m, founded between 1999 and 2017.
Official details
Source: KBO- Status
- Active since 19-07-2002Normal situation
- Activity
- Full-service restaurantsNACE 56111and 1 other
- Joint committee
- 302Hotels and catering · annual accounts 2021
- Establishment unit
- 2.114.406.9882630 Aartselaar, since 18-09-2002
- Financial year end
- 31 December
- Peppol
- Reachable since 19-05-2026
Annual accounts 2025
- €849,061▼ 15.3%
- Employeeson 31-12-2025
- 22▲ 29.4%
- Filing
- Filed on 01-07-2026, 30 days before the end of the filing period
Insights on DEPICO
DEPICO has existed since 2002. The gross margin grew from €706,057 in 2007 to €1.3m in 2024.
Solvency fell in 2025 from 10.2% to 2.2% because of the dividend.
PIAMAN holds 99.46% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about DEPICO
- What is the company number of DEPICO?
- The company number of DEPICO is 0477.942.853. The VAT number is the same number with BE in front: BE 0477.942.853.
- Where is DEPICO based?
- The registered office is at Antwerpsesteenweg 29, 2630 Aartselaar.Company details
- What does DEPICO do?
- According to the KBO register, the main activity is full-service restaurants (NACE 56111).
- What is the legal form of DEPICO?
- DEPICO is a private limited company (BV).
- When was DEPICO founded?
- DEPICO was founded on 19-07-2002.
- Is DEPICO still active?
- Yes, DEPICO is an active enterprise in the KBO register.
- How many employees does DEPICO have?
- DEPICO had an average of 20.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does DEPICO fall under?
- In its 2021 annual accounts, DEPICO states joint committee 302 (Hotels and catering).
- What is the turnover of DEPICO?
- The turnover of DEPICO was €5.1m in financial year 2025, according to the filed annual accounts.
- Is DEPICO profitable?
- In financial year 2025, DEPICO made a profit of €32,238.
- Where can I find the annual accounts of DEPICO?
- DEPICO filed 23 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of DEPICO due?
- DEPICO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See the other companies in the same group.PIAMAN · 10 companies
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