DUCALION
ActiveSummary
DUCALION has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€236,385) and a net result of €11,255. Equity is shrinking by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 9% of 13604 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-24
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.1 against 0.11 in 2024; short-term debt: 131.2% and cash: 12.4% of total assets), and equity is negative.
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Signals
Seven 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 →
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
-120.9%
Return on assets
5.8%
Age of the figures
12 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 9% of 13604 sector peers (2025).
NBB · sector comparisonPosition among 13604 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 05-05-2026, 5 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
5 d late
2024
49 d early
2023
8 d late
2022
12 d late
2021
10 d late
2020
28 d late
2019
18 d late
← 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 5 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% 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 9 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
-€236,385▲ 4.5%
2024 · -€247,640
Total assets
€195,589▲ 406%
2024 · €38,648
Net result
€11,255▼ 81.7%
2024 · €61,530
Working capital
-€230,572▲ 3.1%
2024 · -€237,921
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-€8,186▼ 148%-€39,988▼ 389%€3,711€61,645▲ 1,561%€13,800▼ 77.6%
Net result-€13,783below the sector's middle half▼ 35.7%-€46,670below the sector's middle half▼ 239%€400within the sector's middle half€61,530above the sector's middle half▲ 15,301%€11,255within the sector's middle half▼ 81.7%
Equity-€262,900below the sector's middle half▼ 5.5%-€309,570below the sector's middle half▼ 17.8%-€309,171below the sector's middle half▲ 0.1%-€247,640below the sector's middle half▲ 19.9%-€236,385below the sector's middle half▲ 4.5%
Total assets€305,194above the sector's middle half▼ 19.7%€232,007within the sector's middle half▼ 24.0%€26,840below the sector's middle half▼ 88.4%€38,648below the sector's middle half▲ 44.0%€195,589within the sector's middle half▲ 406%
Debt€568,094▼ 9.7%€541,577▼ 4.7%€336,011▼ 38.0%€286,288▼ 14.8%€431,974▲ 50.9%
Working capital-€441,080below the sector's middle half▼ 6.4%-€478,645below the sector's middle half▼ 8.5%-€297,464below the sector's middle half▲ 37.9%-€237,921below the sector's middle half▲ 20.0%-€230,572below the sector's middle half▲ 3.1%
Solvency-86.1%below the sector's middle half▼ 20.6pp-133.4%below the sector's middle half▼ 47.3pp-640.8%below the sector's middle half-120.9%below the sector's middle half▲ 519.9pp
Current ratio0.06below the sector's middle half▼ 0.050.01below the sector's middle half▼ 0.050.06below the sector's middle half▲ 0.050.11below the sector's middle half▲ 0.050.10below the sector's middle half=
Return on assets (ROA)-4.5%below the sector's middle half▼ 1.8pp-20.1%below the sector's middle half▼ 15.6pp1.5%within the sector's middle half▲ 21.6pp159.2%above the sector's middle half▲ 157.7pp5.8%within the sector's middle half▼ 153.5pp
Staff (FTE)9.6▲ 74.5%10.8▲ 12.5%
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 falls in 2025; 2025 is 78% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €195,589
Fixed assets
€169,548 ▲ 1,504%
Current assets
€26,042 ▼ 7.2%
Key figures and ratios
EBITDA
€43,575▼
2024 · €62,562
Cash flow
€41,030▼
2024 · €62,448
Debt to equity
-1.83▼
2024 · -1.16
Interest coverage
16.90▼
2024 · 548.50
Debt ≤ 1 year
€256,614▼
2024 · €265,998
Debt > 1 year
€175,061▲
2024 · €20,000
Staff costs
€0▼
2024 · €30
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,640 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,640 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 | €70,009 | €130,515 | €43,430 | €30 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €50,590 | €49,531 | €86 | €917 | €29,775 | ▲ 3,146% |
| Other operating charges640/8 | €848 | €2,175 | €882 | €457 | €1,364 | ▲ 199% |
| Non-recurring operating charges66A | - | - | €115 | - | - | - |
| Gross operating margin9900 | €113,261 | €142,233 | €48,222 | €63,049 | €44,939 | ▼ 28.7% |
| Operating profit (loss)9901 | -€8,186 | -€39,988 | €3,711 | €61,645 | €13,800 | ▼ 77.6% |
| Financial income75/76B | €289 | €9 | €300 | - | €35 | - |
| Recurring financial income75 | €289 | €9 | €300 | - | €35 | - |
| Financial charges65/66B | €5,887 | €6,691 | €3,611 | €114 | €2,579 | ▲ 2,161% |
| Recurring financial charges65 | €5,887 | €6,691 | €3,611 | €114 | €2,579 | ▲ 2,161% |
| Profit (loss) for the period before taxes9903 | -€13,783 | -€46,670 | €400 | €61,530 | €11,255 | ▼ 81.7% |
| Profit (loss) for the period9904 | -€13,783 | -€46,670 | €400 | €61,530 | €11,255 | ▼ 81.7% |
| Profit (loss) for the period to be appropriated9905 | -€13,783 | -€46,670 | €400 | €61,530 | €11,255 | ▼ 81.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €305,194 | €232,007 | €26,840 | €38,648 | €195,589 | ▲ 406% |
| Fixed assets21/28 | €278,326 | €228,795 | €8,589 | €10,572 | €169,548 | ▲ 1,504% |
| Intangible fixed assets21 | €5,995 | €2,995 | - | - | - | - |
| Tangible fixed assets22/27 | €264,650 | €218,120 | €909 | €6,393 | €165,369 | ▲ 2,487% |
| Land and buildings22 | - | - | - | - | €159,100 | - |
| Plant, machinery and equipment23 | €255,483 | €211,703 | - | - | - | - |
| Furniture and vehicles24 | €9,167 | €6,418 | €909 | €6,393 | €6,269 | ▼ 1.9% |
| Financial fixed assets28 | €7,680 | €7,680 | €7,680 | €4,179 | €4,179 | = |
| Current assets29/58 | €26,868 | €3,213 | €18,251 | €28,076 | €26,042 | ▼ 7.2% |
| Amounts receivable within one year40/41 | €5,412 | €636 | €7,246 | €640 | €64 | ▼ 90.0% |
| Trade receivables40 | - | €636 | €6,000 | €141 | - | - |
| Other amounts receivable41 | €5,412 | - | €1,246 | €499 | €64 | ▼ 87.2% |
| Cash at bank and in hand54/58 | €21,456 | €2,577 | €11,006 | €27,437 | €24,293 | ▼ 11.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,685 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €305,194 | €232,007 | €26,840 | €38,648 | €195,589 | ▲ 406% |
| Equity10/15 | -€262,900 | -€309,570 | -€309,171 | -€247,640 | -€236,385 | ▲ 4.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€281,500 | -€328,170 | -€327,771 | -€266,240 | -€254,985 | ▲ 4.2% |
| Amounts payable17/49 | €568,094 | €541,577 | €336,011 | €286,288 | €431,974 | ▲ 50.9% |
| Amounts payable after more than one year17 | €94,704 | €59,263 | €20,000 | €20,000 | €175,061 | ▲ 775% |
| Financial debts170/4 | €94,704 | €39,263 | - | - | €155,061 | - |
| Other amounts payable178/9 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Amounts payable within one year42/48 | €467,948 | €481,858 | €315,716 | €265,998 | €256,614 | ▼ 3.5% |
| Current portion of amounts payable after more than one year42 | €49,872 | €55,441 | - | - | €12,053 | - |
| Trade debts44 | €22,149 | €25,710 | €4,104 | - | €2,105 | - |
| Suppliers440/4 | €22,149 | €25,710 | €4,104 | - | €2,105 | - |
| Taxes, remuneration and social security45 | €18,496 | €47,346 | €241 | €3,712 | €5 | ▼ 99.9% |
| Taxes450/3 | €3,029 | €11,188 | €241 | €3,712 | €5 | ▼ 99.9% |
| Remuneration and social security454/9 | €15,467 | €36,159 | - | - | - | - |
| Other amounts payable47/48 | €377,431 | €353,361 | €311,370 | €262,286 | €242,451 | ▼ 7.6% |
| Accrued charges and deferred income492/3 | €5,442 | €456 | €295 | €291 | €300 | ▲ 3.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,783 | -€46,670 | €400 | €61,530 | €11,255 | ▼ 81.7% |
| + Depreciation and write-downs630 | €50,590 | €49,531 | €86 | €917 | €29,775 | ▲ 3,146% |
| Operating cash flow (approximation) | €36,806 | €2,861 | €485 | €62,448 | €41,030 | ▼ 34.3% |
| Investment in fixed assets (approximation) | - | €0 | €220,121 | -€2,900 | -€188,751 | ▼ 6,408% |
| Change in cash | - | -€18,880 | €8,429 | €16,431 | -€3,144 | ▼ 119% |
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
05-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
12-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2018net €61,530 ▲15,301%
Operating result €61,645, net result €61,530, both a record.
08-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
30-09
Financial
Back to profitnet €400
Net result €400 after 5 loss-making years.
12-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 12 days late
2022
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
12-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Elsene · 1 establishment unit since 2011
Ground area
628 m²
Building footprint
327 m²
Volume, LiDAR
5,996 m³
Parcel 21447B0306/00F042, Brussels · tallest building 29.8 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
DUCALION
since 20112.200.554.470
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21447B0306/00F042 | Brussels | 628 m² | 1 · 327 m² | 29.8 m · 6 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 20,505 companies in sector 56111 we hold annual accounts for 11,464. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded27-05-2011
Fiscal year end30-09
Activities, NACEBEL 2025
56111Full-service restaurants
70200Business and other management consultancy
Contact
E-mail
ocattle@gmail.comElsene
Phone
0473/595486Elsene
E-invoicing
Reachable via Peppol
Peppol ID
0208:0836611538
Also
9925:BE0836611538
Registered
15-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.