FIRAT
ActiveFIRAT has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18k and a net result of €11k. Equity is shrinking by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 23% of 800 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability59▼-41
Solvency38▲+4
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.35 against 1.06 in 2024; short-term debt: 72.6% and cash: 0% of total assets), and 86.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← fewer bankruptcies
more bankruptcies →
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
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
13.4%
Return on assets
8.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 800 sector peers (2025).
NBB · sector comparisonPosition among 800 sector peers
Solvency
better than 23%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €18k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
40 d late
2023
31 d late
2022
32 d late
2021
31 d late
2020
90 d late
2019
91 d late
← before the deadline
after the deadline →
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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€11k▼ 85.6%
2024 · €79k
2018: €-22k
2019: €-373
2020: €4k
2021: €6k
2022: €493
2023: €56k
2024: €79k
2018 → 2025
Working capital
€34k▲ 796%
2024 · €4k
2018: €-2k
2019: €5k
2020: €13k
2021: €26k
2022: €24k
2023: €378
2024: €4k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€40k-€34k▼ 14.7%€7k▼ 79.6%€6k▼ 7.8%€18k▲ 177%
Operating result€7k-€2k▼ 76.4%€63k▲ 3,601%€91k▲ 44.9%€39k▼ 57.0%
Net result€6k-€493▼ 91.7%€56k▲ 11,150%€79k▲ 42.4%€11k▼ 85.6%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 57% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €133k
Fixed assets
€3k=
Current assets
€130k▲ 86.9%
Equity and liabilities €133k
Equity
€18k▲ 177%
Debt
€115k▲ 74.6%
The debt ratio falls from 91.1% to 86.6%. Equity and debt are higher.
Key figures and ratios
Solvency
13.4%▲
2024 · 8.9%
Current ratio
1.35▲
2024 · 1.06
Quick ratio
1.27▲
2024 · 0.95
Debt / equity
6.45▼
2024 · 10.23
ROE
63.9%
ROA
8.6%▼
2024 · 109.3%
Debt
€115k▲
2024 · €66k
Debt ≤ 1 year
€96k▲
2024 · €66k
Income taxes
€26k▲
2024 · €10k
Staff costs
€572▼
2024 · €803
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€72k€133k▲
Formation expenses20-€0
Fixed assets21/28€3k€3k=
Tangible fixed assets22/27€3k€3k=
Plant, machinery and equipment23€3k€3k=
Furniture and vehicles24-€0
Other tangible fixed assets26-€0
Current assets29/58€70k€130k▲
Stocks and contracts in progress3€7k€7k=
Stocks30/36€7k€7k=
Amounts receivable within one year40/41€51k€99k▲
Trade receivables40€234€36k▲
Other amounts receivable41€51k€63k▲
Cash at bank and in hand54/58€11k€0▼
Deferred charges and accrued income490/1€141€23k▲
Equity and liabilities
Total equity and liabilities10/49€72k€133k▲
Equity10/15€6k€18k▲
Contributions10/11€6k€6k=
Reserves13€240€12k▲
Distributable reserves133€240€12k▲
Amounts payable17/49€66k€115k▲
Amounts payable within one year42/48€66k€96k▲
Trade debts44€22k€37k▲
Suppliers440/4€22k€37k▲
Taxes, remuneration and social security45€34k€37k▲
Taxes450/3€34k€37k▲
Other amounts payable47/48€10k€22k▲
Accrued charges and deferred income492/3-€19k
Income statement
Code20242025
Remuneration, social security and pensions62€803€572▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k-
Other operating charges640/8€2k€5k▲
Gross operating margin9900€98k€45k▼
Operating profit (loss)9901€91k€39k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€89k€38k▼
Income taxes67/77€10k€26k▲
Profit (loss) for the period9904€79k€11k▼
Profit (loss) for the period to be appropriated9905€79k€11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€79k€11k▼
Transfer from equity791/2€783-
Transfer to equity691/2€240€11k▲
To contributions691€240-
To other reserves6921-€11k
Profit to be distributed694/7€80k-
Return on contributions (dividend)694€70k-
Directors or managers695€10k-
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 40 days late
2024
31-12
Financial
Highest result since 2018net €79k ▲42.4%
Operating result €91k, net result €79k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 32 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 90 days late
2020
31-12
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 92 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Seraing · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Pairay 654100 SeraingGround area
438 m²
Building footprint
122 m²
Volume, LiDAR
1,005 m³
Parcel 62355B0456/00B002, Wallonia · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FIRAT
since 20092.182.905.915
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62355B0456/00B002 | Wallonia | 438 m² | 1 · 122 m² | 10.8 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 siteSeraing2.182.905.915
Similar companies · same sector, comparable size
My Patisserie
BE 0721.616.949
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Le Parisien de Bruxelles
BE 1023.808.472
Anderlecht · Eq €18k
SOETENS
BE 0789.962.456
Aartselaar · Eq €18k
MEHFAT
BE 0803.086.754
Leuven · Eq €18k
Bakkerij Philip
BE 0462.323.873
Horebeke · Eq €18k
Of 4,227 companies in sector 10712 we hold annual accounts for 1,871. 1,201 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-04-1997
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
15812
47241Retail sale of bread and pastry (bakery outlets)
Sources
Crossroads Bank for EnterprisesNational Bank · 28 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.