GATE 5
ActiveSummary
The computed 12-month bankruptcy probability of GATE 5 is 2.1% (moderate). The 2024 annual accounts show equity of €124,103 and a net result of €37,636. Equity is growing by ~32.8% per year across the filed fiscal years. Its solvency ranks better than 55% of 18940 sector peers (fiscal year 2024). The company has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2022
Profitability82▲+9
Solvency60▲+15
Growth78=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 1.86 against 1.04 in 2022; short-term debt: 34.8% and cash: 34.2% of total assets), but 64.9% of the assets are financed with debt.
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Signals
Five 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 →
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 · 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 2024Solvency, return and age of the figures
Solvency
35.1%
Return on assets
10.7%
Age of the figures
24 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 21-05-2025, 21 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
2024
21 d late
2022
3 d early
2021
62 d late
2020
25 d late
2019
68 d late
2018
29 d late
2017
29 d early
← 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 25 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€124,103▲ 43.5%
2022 · €86,467
Total assets
€353,134▼ 16.6%
2022 · €423,467
Net result
€37,636▲ 138%
2022 · €15,841
Working capital
€105,617▲ 1,340%
2022 · €7,336
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
Line20192020202120222024
Operating result€9,087▲ 61.3%€10,565▲ 16.3%€38,404▲ 264%€22,874▼ 40.4%€52,436-
Net result€7,681▲ 62.0%€8,552within the sector's middle half▲ 11.3%€32,490above the sector's middle half▲ 280%€15,841within the sector's middle half▼ 51.2%€37,636above the sector's middle half-
Equity€29,584▲ 35.1%€38,135within the sector's middle half▲ 28.9%€70,626within the sector's middle half▲ 85.2%€86,467above the sector's middle half▲ 22.4%€124,103above the sector's middle half-
Total assets€94,421▲ 3.7%€131,026within the sector's middle half▲ 38.8%€250,335above the sector's middle half▲ 91.1%€423,467above the sector's middle half▲ 69.2%€353,134above the sector's middle half-
Debt€64,837▼ 6.2%€92,891▲ 43.3%€179,710▲ 93.5%€337,000▲ 87.5%€229,031-
Working capital-€22,763▲ 39.4%-€2,369within the sector's middle half▲ 89.6%€22,937within the sector's middle half€7,336within the sector's middle half▼ 68.0%€105,617above the sector's middle half-
Solvency31.3%▲ 7.3pp29.1%within the sector's middle half▼ 2.2pp28.2%within the sector's middle half▼ 0.9pp20.4%within the sector's middle half▼ 7.8pp35.1%within the sector's middle half-
Current ratio0.44▲ 0.070.97within the sector's middle half▲ 0.531.23within the sector's middle half▲ 0.261.04within the sector's middle half▼ 0.191.86within the sector's middle half-
Return on assets (ROA)8.1%▲ 2.9pp6.5%within the sector's middle half▼ 1.6pp13.0%within the sector's middle half▲ 6.5pp3.7%within the sector's middle half▼ 9.2pp10.7%within the sector's middle half-
Staff (FTE)3.7▲ 15.6%2.3within the sector's middle half▼ 37.8%2.4▲ 4.3%3.8▲ 58.3%3.5-
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 is €52,436 in 2024, compared with €22,874 in 2022. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2024 in colour, 2022 as the grey bar beneath
Assets €353,134
Fixed assets
€124,570 ▼ 45.6%
Current assets
€228,564 ▲ 17.5%
Equity and liabilities €353,134
Equity
€124,103 ▲ 43.5%
Debt
€229,031 ▼ 32.0%
Debt's share of the balance-sheet total falls from 79.6% to 64.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€83,530▲
2022 · €60,138
Cash flow
€68,730▲
2022 · €53,106
Quick ratio
1.84▲
2022 · 1.02
Debt to equity
1.85▼
2022 · 3.90
ROE
30.3%▲
2022 · 18.3%
Interest coverage
7.63▼
2022 · 9.24
Debt ≤ 1 year
€122,947▼
2022 · €187,137
Debt > 1 year
€106,085▼
2022 · €149,863
Income taxes
€6,824▲
2022 · €1,584
Staff costs
€222,968▲
2022 · €162,224
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 31,349 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 | 2019 | 2020 | 2021 | 2022 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €12,758 | - |
| Remuneration, social security and pensions62 | - | - | €71,781 | €162,224 | €222,968 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,632 | €22,011 | €22,309 | €37,265 | €31,094 | - |
| Other operating charges640/8 | - | - | €1,014 | €1,885 | €4,387 | - |
| Gross operating margin9900 | €166,075 | €83,048 | €133,508 | €224,247 | €310,884 | - |
| Operating profit (loss)9901 | €9,087 | €10,565 | €38,404 | €22,874 | €52,436 | - |
| Financial income75/76B | - | - | €54 | €1,057 | €2,977 | - |
| Recurring financial income75 | €1 | €213 | €54 | €1,057 | €2,977 | - |
| Financial charges65/66B | - | - | €2,719 | €6,505 | €10,952 | - |
| Recurring financial charges65 | €1,406 | €1,371 | €2,719 | €6,505 | €10,952 | - |
| Profit (loss) for the period before taxes9903 | €7,681 | €9,407 | €35,739 | €17,425 | €44,461 | - |
| Income taxes67/77 | - | €855 | €3,249 | €1,584 | €6,824 | - |
| Profit (loss) for the period9904 | €7,681 | €8,552 | €32,490 | €15,841 | €37,636 | - |
| Profit (loss) for the period to be appropriated9905 | €7,681 | €8,552 | €32,490 | €15,841 | €37,636 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €94,421 | €131,026 | €250,335 | €423,467 | €353,134 | - |
| Fixed assets21/28 | €76,869 | €60,760 | €127,024 | €228,994 | €124,570 | - |
| Intangible fixed assets21 | - | - | - | - | €2,186 | - |
| Tangible fixed assets22/27 | €74,641 | €58,533 | €124,797 | €226,766 | €119,657 | - |
| Plant, machinery and equipment23 | - | - | €119,976 | €214,290 | €110,702 | - |
| Furniture and vehicles24 | - | - | - | €8,860 | €8,955 | - |
| Other tangible fixed assets26 | - | - | €4,820 | €3,615 | - | - |
| Financial fixed assets28 | €2,228 | €2,228 | €2,228 | €2,228 | €2,728 | - |
| Current assets29/58 | €17,552 | €70,266 | €123,311 | €194,473 | €228,564 | - |
| Stocks and contracts in progress3 | €1,296 | €2,319 | €2,530 | €2,947 | €2,524 | - |
| Stocks30/36 | - | - | €2,530 | €2,947 | €2,524 | - |
| Amounts receivable within one year40/41 | €452 | €4,479 | €418 | €3,967 | €11,692 | - |
| Trade receivables40 | - | - | - | - | €5,870 | - |
| Other amounts receivable41 | - | - | €418 | €3,967 | €5,822 | - |
| Current investments50/53 | - | - | - | - | €92,211 | - |
| Cash at bank and in hand54/58 | €15,804 | €60,634 | €117,256 | €186,185 | €120,694 | - |
| Deferred charges and accrued income490/1 | - | - | €3,106 | €1,373 | €1,443 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €94,421 | €131,026 | €250,335 | €423,467 | €353,134 | - |
| Equity10/15 | €29,584 | €38,135 | €70,626 | €86,467 | €124,103 | - |
| Contributions10/11 | €18,592 | - | €18,592 | €18,592 | €18,592 | - |
| Reserves13 | €1,454 | €10,005 | €42,495 | €58,337 | €95,973 | - |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | - | - |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | - | - |
| Distributable reserves133 | - | - | €40,636 | €56,477 | €95,973 | - |
| Profit (loss) carried forward14 | €9,538 | €9,538 | €9,538 | €9,538 | €9,538 | - |
| Amounts payable17/49 | €64,837 | €92,891 | €179,710 | €337,000 | €229,031 | - |
| Amounts payable after more than one year17 | €24,522 | €20,256 | €79,336 | €149,863 | €106,085 | - |
| Financial debts170/4 | - | - | €79,336 | €149,863 | €106,085 | - |
| Amounts payable within one year42/48 | €40,315 | €72,635 | €100,373 | €187,137 | €122,947 | - |
| Current portion of amounts payable after more than one year42 | - | - | €10,920 | €24,163 | €25,262 | - |
| Trade debts44 | €11,779 | €53,148 | €68,050 | €137,867 | €86,019 | - |
| Suppliers440/4 | - | - | €68,050 | €137,867 | €86,019 | - |
| Taxes, remuneration and social security45 | - | - | €11,719 | €21,824 | €11,666 | - |
| Taxes450/3 | - | - | €5,899 | €19,208 | €11,666 | - |
| Remuneration and social security454/9 | - | - | €5,820 | €2,616 | - | - |
| Other amounts payable47/48 | - | - | €9,684 | €3,283 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,681 | €8,552 | €32,490 | €15,841 | €37,636 | - |
| + Depreciation and write-downs630 | €26,632 | €22,011 | €22,309 | €37,265 | €31,094 | - |
| Operating cash flow (approximation) | €34,313 | €30,563 | €54,800 | €53,106 | €68,730 | - |
| Investment in fixed assets (approximation) | - | -€5,902 | -€88,573 | -€139,234 | - | - |
| Change in cash | - | €44,830 | €56,623 | €68,929 | - | - |
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
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
30-09
Financial
Highest result since 2018net €37,636 ▲138%
Operating result €52,436, net result €37,636, both a record.
30-09
Financial
Equity above €100,000Eq €124,103 ▲43.5%
6 profitable years in a row build equity to €124,103.
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 62 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
2015
27-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 27 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, Oostende · 3 establishment units since 1994
Ground area
5.2 ha
Building footprint
8,912 m²
Volume, LiDAR
41,785 m³
3 parcels, Flanders · tallest building 17.2 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
3 establishment units
Gate 5
since 19942.067.745.535
Cargo-Summerbar
since 20222.332.759.433
Kadzandstraat 14, 8400 Oostende
since 20252.372.754.711
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35386D0002/00P000 | Flanders | 5.2 ha | 1 · 8,450 m² | 16.4 m |
| 35020A0247/00E002 | Flanders | 444 m² | 1 · 392 m² | 13.7 m · 4 fl. |
| 35013A0464/00F000 | Flanders | 70 m² | 1 · 70 m² | 17.2 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 338 EUR awarded · 338 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 338 EUR | 338 EUR |
Recognitions · licences · registrations
Food safety, FASFC
3 sitesOostende2.067.745.535
Oostende2.332.759.433
Oostende2.372.754.711
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DE PRINS
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Equitino
BE 0800.891.287
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L.M.G.
BE 0800.731.931
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JUWA
BE 0477.702.036
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Of 14,005 companies in sector 56301 we hold annual accounts for 4,897. 3,528 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
Founded24-02-1993
Fiscal year end30-09
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
47210Retail sale of fruit and vegetables
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449510767
Registered
26-07-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.