Result
Back in profit in 2025, after a loss of €40,230 in 2024.
Back in profit in 2025, after a loss of €40,230 in 2024.
The micro format states no turnover.
Of this, €202,481 falls due within a year.
The 2024 accounts came latest: 31 days after the end of the period.
Higher net result than 91% of companies in food and beverage service. Sector median €4,886 · 17,134 companies.
The dashed line is the sector median: 1.8% across 23,791 companies (NACE 56, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 31% of them on solvency, 38% on liquidity, 67% on profitability and 96% on growth.
The bankruptcy probability was computed on 10-11-2026 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 moderate class on 30-06-2025, 2.4% 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).
In July 2024, 513 companies had the same profile as FU AN has now. Each dot stands for 2 companies, two years later.
That fits the bankruptcy probability of FU AN itself: 2.7% within 12 months.
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 513 companies, not a prediction for FU AN. 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.
Liquidity is insufficient, with a current ratio of 0.22 (0.28 in 2024), below 1. Short-term debt is 32.2% and cash 5.6% of total assets. 93.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 27 days after 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.
| Company | ||||
|---|---|---|---|---|
| FU AN Kuurne | €629,255 | €166,704 | 6.7% | - |
| Gregory Vandemeulebroeke Knokke-Heist | €646,272 | €171,418 | 23.3% | 1.8 |
| De Frietbooster Berlare | €600,641 | €167,256 | 21.1% | - |
| PG & DC Antoing | €679,995 | €177,175 | -10.1% | - |
| EC WANG Maaseik | €601,023 | €189,095 | 77.7% | - |
| BLDS Sint-Lievens-Houtem | €564,393 | €161,506 | 39.1% | - |
| Yangxia Dendermonde | €530,950 | €154,849 | 58.0% | - |
These companies have the same main activity as FU AN: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €531,000 and €680,000, founded between 2021 and 2022.
FU AN files the micro format. That format states no turnover. The gross margin rose from €35,040 in 2022 to €166,704 in 2025.
The balance sheet grew most from 2023 to 2024 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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