GAGAN
ActiveSummary
The computed 12-month bankruptcy probability of GAGAN is 1.9% (moderate). The 2024 annual accounts show equity of €99,400 and a net result of €20,847. Equity is growing by ~32.1% per year across the filed fiscal years. Its solvency ranks better than 87% of 18935 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability88▲+5
Solvency100▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity ample (current ratio 3.67 against 3.26 in 2023; short-term debt: 25.2% and cash: 42.2% of total assets), and 25.5% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk
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 · 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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-11-2025, 105 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
105 d late
2023
98 d late
2022
68 d late
2021
136 d late
2020
235 d late
2019
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 122 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€99,400▲ 26.5%
2023 · €78,553
Total assets
€133,346▲ 23.9%
2023 · €107,655
Net result
€20,847▲ 66.9%
2023 · €12,493
Working capital
€89,703▲ 40.1%
2023 · €64,028
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€21,980▲ 819%€28,641▲ 30.3%€10,834▼ 62.2%€15,909▲ 46.8%€21,839▲ 37.3%
Net result€20,570above the sector's middle half€20,492within the sector's middle half▼ 0.4%€6,447within the sector's middle half▼ 68.5%€12,493within the sector's middle half▲ 93.8%€20,847within the sector's middle half▲ 66.9%
Equity€39,122within the sector's middle half▲ 111%€59,613within the sector's middle half▲ 52.4%€66,060within the sector's middle half▲ 10.8%€78,553within the sector's middle half▲ 18.9%€99,400above the sector's middle half▲ 26.5%
Total assets€54,758within the sector's middle half▲ 43.1%€86,089within the sector's middle half▲ 57.2%€102,754within the sector's middle half▲ 19.4%€107,655within the sector's middle half▲ 4.8%€133,346within the sector's middle half▲ 23.9%
Debt€15,637▼ 20.7%€26,476▲ 69.3%€36,694▲ 38.6%€29,102▼ 20.7%€33,946▲ 16.6%
Working capital€14,243within the sector's middle half€38,580within the sector's middle half▲ 171%€48,380above the sector's middle half▲ 25.4%€64,028above the sector's middle half▲ 32.3%€89,703above the sector's middle half▲ 40.1%
Solvency71.4%above the sector's middle half▲ 23.0pp69.2%above the sector's middle half▼ 2.2pp64.3%above the sector's middle half▼ 5.0pp73.0%above the sector's middle half▲ 8.7pp74.5%above the sector's middle half▲ 1.6pp
Current ratio1.91within the sector's middle half▲ 1.502.46above the sector's middle half▲ 0.552.36above the sector's middle half▼ 0.093.26above the sector's middle half▲ 0.893.67above the sector's middle half▲ 0.42
Return on assets (ROA)37.6%above the sector's middle half▲ 38.0pp23.8%within the sector's middle half▼ 13.8pp6.3%within the sector's middle half▼ 17.5pp11.6%within the sector's middle half▲ 5.3pp15.6%within the sector's middle half▲ 4.0pp
Staff (FTE)3.32.6▼ 21.2%2.3▼ 11.5%
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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 37% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €133,346
Fixed assets
€10,106 ▼ 33.8%
Current assets
€123,240 ▲ 33.4%
Equity and liabilities €133,346
Equity
€99,400 ▲ 26.5%
Debt
€33,946 ▲ 16.6%
Debt's share of the balance-sheet total falls from 27.0% to 25.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26,993▲
2023 · €24,441
Cash flow
€26,001▲
2023 · €21,025
Quick ratio
3.50▲
2023 · 3.07
Debt to equity
0.34▼
2023 · 0.37
ROE
21.0%▲
2023 · 15.9%
Interest coverage
53.48▲
2023 · 28.95
Debt ≤ 1 year
€33,537▲
2023 · €28,367
Income taxes
€720▼
2023 · €4,284
Staff costs
€95,237▲
2023 · €77,736
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 26,975 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €11,890 | €32,034 | €77,736 | €95,237 | ▲ 22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,426 | €7,015 | €8,064 | €8,532 | €5,154 | ▼ 39.6% |
| Other operating charges640/8 | - | €6,054 | €1,976 | €3,058 | €1,106 | ▼ 63.8% |
| Gross operating margin9900 | €32,186 | €53,601 | €52,907 | €105,234 | €123,336 | ▲ 17.2% |
| Operating profit (loss)9901 | €21,980 | €28,641 | €10,834 | €15,909 | €21,839 | ▲ 37.3% |
| Financial income75/76B | - | €267 | €139 | €1,713 | €232 | ▼ 86.5% |
| Recurring financial income75 | €15 | €267 | €139 | €1,713 | €232 | ▼ 86.5% |
| Financial charges65/66B | - | €751 | €803 | €844 | €505 | ▼ 40.2% |
| Recurring financial charges65 | €538 | €751 | €803 | €844 | €505 | ▼ 40.2% |
| Profit (loss) for the period before taxes9903 | €21,457 | €28,158 | €10,170 | €16,777 | €21,566 | ▲ 28.5% |
| Income taxes67/77 | €887 | €7,666 | €3,723 | €4,284 | €720 | ▼ 83.2% |
| Profit (loss) for the period9904 | €20,570 | €20,492 | €6,447 | €12,493 | €20,847 | ▲ 66.9% |
| Profit (loss) for the period to be appropriated9905 | €20,570 | €20,492 | €6,447 | €12,493 | €20,847 | ▲ 66.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54,758 | €86,089 | €102,754 | €107,655 | €133,346 | ▲ 23.9% |
| Formation expenses20 | €314 | €160 | €6 | - | - | - |
| Fixed assets21/28 | €24,565 | €20,873 | €18,869 | €15,260 | €10,106 | ▼ 33.8% |
| Intangible fixed assets21 | €10,565 | €9,065 | €7,565 | €6,065 | €4,565 | ▼ 24.7% |
| Tangible fixed assets22/27 | €14,000 | €11,808 | €11,304 | €9,195 | €5,541 | ▼ 39.7% |
| Plant, machinery and equipment23 | - | €3,545 | €5,505 | €6,584 | €4,345 | ▼ 34.0% |
| Furniture and vehicles24 | - | €8,263 | €5,799 | €2,611 | €1,196 | ▼ 54.2% |
| Current assets29/58 | €29,879 | €65,056 | €83,879 | €92,395 | €123,240 | ▲ 33.4% |
| Stocks and contracts in progress3 | €250 | €4,164 | €4,888 | €5,432 | €5,879 | ▲ 8.2% |
| Stocks30/36 | - | €4,164 | €4,888 | €5,432 | €5,879 | ▲ 8.2% |
| Amounts receivable within one year40/41 | €7,425 | €17,117 | €32,243 | €55,314 | €60,416 | ▲ 9.2% |
| Trade receivables40 | - | €15,133 | €12,128 | €7,283 | €10,006 | ▲ 37.4% |
| Other amounts receivable41 | - | €1,984 | €20,115 | €48,031 | €50,410 | ▲ 5.0% |
| Cash at bank and in hand54/58 | €21,880 | €43,327 | €46,730 | €30,929 | €56,235 | ▲ 81.8% |
| Deferred charges and accrued income490/1 | - | €448 | €18 | €720 | €710 | ▼ 1.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54,758 | €86,089 | €102,754 | €107,655 | €133,346 | ▲ 23.9% |
| Equity10/15 | €39,122 | €59,613 | €66,060 | €78,553 | €99,400 | ▲ 26.5% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €40,860 | €46,860 | €59,860 | €75,860 | ▲ 26.7% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €39,000 | €45,000 | €58,000 | €74,000 | ▲ 27.6% |
| Profit (loss) carried forward14 | €18,662 | €153 | €600 | €93 | €4,940 | ▲ 5,193% |
| Amounts payable17/49 | €15,637 | €26,476 | €36,694 | €29,102 | €33,946 | ▲ 16.6% |
| Amounts payable within one year42/48 | €15,637 | €26,476 | €35,498 | €28,367 | €33,537 | ▲ 18.2% |
| Trade debts44 | €2,216 | €13,183 | €9,690 | €13,011 | €10,748 | ▼ 17.4% |
| Suppliers440/4 | - | €13,183 | €9,690 | €13,011 | €10,748 | ▼ 17.4% |
| Taxes, remuneration and social security45 | - | €8,797 | €25,809 | €15,356 | €18,289 | ▲ 19.1% |
| Taxes450/3 | - | €6,965 | €13,582 | €8,951 | €10,716 | ▲ 19.7% |
| Remuneration and social security454/9 | - | €1,832 | €12,227 | €6,406 | €7,573 | ▲ 18.2% |
| Other amounts payable47/48 | - | €4,496 | - | - | €4,500 | - |
| Accrued charges and deferred income492/3 | - | - | €1,195 | €734 | €409 | ▼ 44.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,570 | €20,492 | €6,447 | €12,493 | €20,847 | ▲ 66.9% |
| + Depreciation and write-downs630 | €6,426 | €7,015 | €8,064 | €8,532 | €5,154 | ▼ 39.6% |
| Operating cash flow (approximation) | €26,996 | €27,506 | €14,511 | €21,025 | €26,001 | ▲ 23.7% |
| Investment in fixed assets (approximation) | - | -€3,323 | -€6,060 | -€4,923 | €0 | ▲ 100% |
| Change in cash | - | €21,447 | €3,403 | -€15,801 | €25,306 | ▲ 260% |
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
2025
13-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 105 days late
2024
31-12
Financial
Highest result since 2018net €20,847 ▲66.9%
Net result €20,847, the highest in the series.
06-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 98 days late
2023
07-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 68 days late
2022
14-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 136 days late
23-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 235 days late
2020
31-12
Financial
Back to profitnet €20,570
Net result €20,570 after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 1.91
Current ratio from 0.41 to 1.91; short-term debt falls from €19,715 to €15,637.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
31-12
Financial
Weakest financial yearnet -€163
Net result drops to -€163, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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 2018
Ground area
107 m²
Parcel 11806F1285/00V009, Flanders. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
GAGAN
since 20182.271.880.649
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11806F1285/00V009 | Flanders | 106 m² | - | - |
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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.271.880.649
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Of 20,500 companies in sector 56111 we hold annual accounts for 11,464. 9,581 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 (pre-2019)
Founded17-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0688579640
Also
9925:BE0688579640
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.