BILGIC
ActiveSummary
The computed 12-month bankruptcy probability of BILGIC is 7.7% (elevated). The 2025 annual accounts show negative equity (-€11,595) and a net result of -€43,629. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 13484 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-46
Solvency0▼-100
Growth26▼-30
Track record100
Bankruptcy probability, 12 months
7.7%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 2025Age of the figures
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€11,595
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 05-06-2026, 56 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
56 d early
2024
31 d early
2023
282 d late
2022
13 d early
2021
67 d early
2020
10 d early
2019
6 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 16 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€183,719▼ 65.9%
2022 · €538,662
EBIT margin
-4.4%▼ 13.2pp
2022 · 8.8%
Net result
-€43,629▼ 4,514%
2024 · -€946
Working capital
-€11,595▼ 552%
2024 · -€1,778
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€283,950▲ 88.4%€538,662▲ 89.7%€183,719▼ 65.9%
Operating result€42,142€47,493▲ 12.7%-€8,092€3,088-€40,847
Net result€34,443€31,403▼ 8.8%-€13,659-€946▲ 93.1%-€43,629▼ 4,514%
EBIT margin14.8%▲ 31.8pp8.8%▼ 6.0pp-4.4%▼ 13.2pp
Equity€15,236€46,639▲ 206%€32,980▼ 29.3%€32,035▼ 2.9%-€11,595
Total assets€194,895▲ 61.5%€226,400▲ 16.2%€49,477▼ 78.1%€34,745▼ 29.8%€932▼ 97.3%
Debt€179,659▲ 28.5%€179,761▲ 0.1%€16,497▼ 90.8%€2,711▼ 83.6%€12,527▲ 362%
Working capital-€65,346▲ 41.3%-€40,382▲ 38.2%-€12,727▲ 68.5%-€1,778▲ 86.0%-€11,595▼ 552%
Staff (FTE)2.4▲ 118%4.3▲ 79.2%1.7▼ 60.5%
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 €40,847 after €3,088 in 2024, the lowest result in the available series.
Key figures and ratios
Debt ≤ 1 year
€12,527▲
2024 · €2,711
Ratios withheld: a balance sheet total of €932 is too small for a meaningful ratio.
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €283,950 | €538,662 | €183,719 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €199,861 | €406,828 | €151,018 | €6,899 | €5,388 | ▼ 21.9% |
| Remuneration, social security and pensions62 | €26,002 | €44,679 | €11,968 | €572 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,041 | €35,819 | €38,071 | €11,894 | - | - |
| Other operating charges640/8 | €3,721 | €7,280 | €10,754 | €737 | €35,459 | ▲ 4,709% |
| Gross operating margin9900 | €101,906 | €135,271 | €52,701 | €16,291 | -€5,388 | ▼ 133% |
| Operating profit (loss)9901 | €42,142 | €47,493 | -€8,092 | €3,088 | -€40,847 | ▼ 1,423% |
| Financial income75/76B | - | €0 | €2 | €36 | €0 | ▼ 98.6% |
| Recurring financial income75 | - | €0 | €2 | €36 | €0 | ▼ 98.6% |
| Financial charges65/66B | €2,897 | €6,222 | €5,569 | €4,070 | €2,783 | ▼ 31.6% |
| Recurring financial charges65 | €2,897 | €6,222 | €5,569 | €4,070 | €2,783 | ▼ 31.6% |
| Profit (loss) for the period before taxes9903 | €39,245 | €41,271 | -€13,659 | -€946 | -€43,629 | ▼ 4,514% |
| Income taxes67/77 | €4,802 | €9,868 | - | - | - | - |
| Profit (loss) for the period9904 | €34,443 | €31,403 | -€13,659 | -€946 | -€43,629 | ▼ 4,514% |
| Profit (loss) for the period to be appropriated9905 | €34,443 | €31,403 | -€13,659 | -€946 | -€43,629 | ▼ 4,514% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €194,895 | €226,400 | €49,477 | €34,745 | €932 | ▼ 97.3% |
| Fixed assets21/28 | €80,582 | €87,021 | €45,707 | €33,813 | - | - |
| Intangible fixed assets21 | €58,148 | €30,148 | €2,148 | - | - | - |
| Tangible fixed assets22/27 | €22,434 | €56,873 | €43,559 | €33,813 | - | - |
| Plant, machinery and equipment23 | €2,087 | €32,300 | €24,349 | €19,617 | - | - |
| Furniture and vehicles24 | €20,347 | €24,573 | €19,211 | €14,196 | - | - |
| Current assets29/58 | €114,313 | €139,379 | €3,770 | €932 | €932 | = |
| Stocks and contracts in progress3 | €3,124 | €3,124 | - | - | - | - |
| Stocks30/36 | €3,124 | €3,124 | - | - | - | - |
| Amounts receivable within one year40/41 | €11,045 | €76,661 | €1,293 | €907 | €923 | ▲ 1.7% |
| Trade receivables40 | €11,045 | €68,807 | - | - | - | - |
| Other amounts receivable41 | - | €7,854 | €1,293 | €907 | €923 | ▲ 1.7% |
| Cash at bank and in hand54/58 | €99,611 | €59,595 | €2,477 | €25 | €9 | ▼ 64.9% |
| Deferred charges and accrued income490/1 | €532 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €194,895 | €226,400 | €49,477 | €34,745 | €932 | ▼ 97.3% |
| Equity10/15 | €15,236 | €46,639 | €32,980 | €32,035 | -€11,595 | ▼ 136% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Other1109/19 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | €2,836 | €34,239 | €20,580 | €19,635 | -€23,995 | ▼ 222% |
| Amounts payable17/49 | €179,659 | €179,761 | €16,497 | €2,711 | €12,527 | ▲ 362% |
| Amounts payable within one year42/48 | €179,659 | €179,761 | €16,497 | €2,711 | €12,527 | ▲ 362% |
| Financial debts43 | - | €6 | - | - | - | - |
| Credit institutions430/8 | - | €6 | - | - | - | - |
| Trade debts44 | €38,157 | €107,940 | - | - | - | - |
| Suppliers440/4 | €38,157 | €107,940 | - | - | - | - |
| Taxes, remuneration and social security45 | €50,326 | €71,815 | €16,497 | €2,711 | - | - |
| Taxes450/3 | €21,171 | €26,792 | €16,497 | €2,711 | - | - |
| Remuneration and social security454/9 | €29,155 | €45,022 | - | - | - | - |
| Other amounts payable47/48 | €91,176 | - | - | - | €12,527 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,443 | €31,403 | -€13,659 | -€946 | -€43,629 | ▼ 4,514% |
| + Depreciation and write-downs630 | €30,041 | €35,819 | €38,071 | €11,894 | - | - |
| Operating cash flow (approximation) | €64,484 | €67,222 | €24,412 | €10,948 | -€43,629 | ▼ 498% |
| Investment in fixed assets (approximation) | - | -€42,258 | €3,243 | €0 | - | - |
| Change in cash | - | -€40,017 | -€57,118 | -€2,452 | -€16 | ▲ 99.3% |
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€43,629
Net result drops to -€43,629, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
09-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 282 days late
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €34,443
Net result €34,443 after 2 loss-making years.
21-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 6 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Antwerpen · 1 establishment unit since 2019
Ground area
135 m²
Building footprint
108 m²
Volume, LiDAR
821 m³
Parcel 11003A0182/00S005, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
PITAZZA
since 20192.284.747.601
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11003A0182/00S005 | Flanders | 135 m² | 1 · 108 m² | 10.2 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.284.747.601
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Of 21,861 companies in sector 56112 we hold annual accounts for 9,778. 8,411 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
Founded28-01-2019
Fiscal year end31-12
Legal name NL
ELSEM
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.