Filings
Seven of the last ten came late. The 2019 accounts came latest: 112 days after the end of the period.
Seven of the last ten came late. The 2019 accounts came latest: 112 days after the end of the period.
The dashed line is the sector median: 0.6% across 40,273 companies (NACE 47, micro).
About 2 in 1,000 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 47, micro). It does better than 73% of them on solvency, 85% on liquidity, 20% on profitability and 25% on growth.
The bankruptcy probability was computed on 05-11-2026 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 very low class on 30-06-2025, 0.1% 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, 6,908 companies had the same profile as GEORGIO has now. Each dot stands for 18 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GEORGIO itself: 0.2% within 12 months.
The method was tested on the 497,446 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 6,908 companies, not a prediction for GEORGIO. 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 ample, with a current ratio of 2.06 (1.94 in 2024), above the usual 1.5. Short-term debt is 39.4% and cash 65.7% of total assets. 39.4% 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 7 accounts on average 19 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| GEORGIO Schaerbeek | €58,025 | -€3,344 | 60.6% | - |
| UCCLE FLORE Uccle | €70,216 | -€9,180 | 2.0% | - |
| AmorIlly's Huldenberg | €68,896 | -€11,826 | 37.6% | - |
| Michèle RENSON (VERT'TIGE) Liège | €46,379 | -€1,935 | -47.8% | - |
| M LW Bilzen-Hoeselt | €51,547 | -€13,254 | -57.5% | - |
| QUERCUS VERDE Lier | €39,083 | -€14,288 | -95.7% | - |
| EURO NEGOCE Tournai | €45,627 | -€5,002 | 88.5% | - |
These companies have the same main activity as GEORGIO: retail sale of flowers, plants, seeds and fertilisers (NACE 47761). They are comparable in size and age: total assets between €39,100 and €70,200, founded between 2003 and 2011.
GEORGIO files the abbreviated format. That format states no turnover. The gross margin fell from €4,476 in 2008 to -€3,344 in 2025.
In January 2024, the Official Gazette published the appointment of SABBAGH Toni as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 74% of 12,836 companies in 2025.
Higher than 64% of 12,626 companies in 2025.
Higher than 12% of 12,700 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
Total assets20/58 |
58,025 | 71,068 | 37,889 | 28,518 | 32,841 | 35,312 | 27,748 | 21,531 | 26,117 | 18,411 | 24,052 | 29,686 | 34,034 | 33,375 | 31,415 | 38,890 | |
Fixed assets21/28 |
10,968 | 10,953 | 10,903 | 10,833 | 10,859 | 13,604 | 16,349 | 11,294 | 14,079 | 3,749 | 4,598 | 5,593 | 7,987 | 7,404 | 10,064 | 12,606 | |
Tangible fixed assets22/27 |
- | - | - | - | - | 2,745 | 5,490 | 8,235 | 11,020 | 690 | 1,550 | 2,542 | 5,163 | 4,567 | 7,303 | 9,903 | |
Land and buildings22 |
- | - | - | - | - | - | - | - | 40 | 183 | - | - | - | - | - | - | |
Plant, machinery and equipment23 |
- | - | - | - | - | - | - | - | 10,980 | 507 | 265 | 387 | 509 | - | - | - | |
Furniture and vehicles24 |
- | - | - | - | - | 2,745 | 5,490 | 8,235 | - | - | 1,285 | 2,155 | 4,654 | 4,567 | 7,303 | 9,903 | |
Financial fixed assets28 |
10,968 | 10,953 | 10,903 | 10,833 | 10,859 | 10,859 | 10,859 | 3,059 | 3,059 | 3,059 | 3,048 | 3,051 | 2,824 | 2,837 | 2,761 | 2,703 | |
Current assets29/58 |
47,057 | 60,115 | 26,986 | 17,685 | 21,982 | 21,708 | 11,399 | 10,237 | 12,038 | 14,662 | 19,454 | 24,093 | 26,047 | 25,971 | 21,351 | 26,284 | |
Stocks and contracts in progress3 |
1,574 | 602 | 843 | 2,169 | 3,000 | 3,000 | 5,625 | 3,016 | 2,531 | 2,472 | 2,262 | 2,481 | 4,116 | 5,571 | 3,221 | 5,854 | |
Stocks30/36 |
1,574 | 602 | 843 | 2,169 | 3,000 | 3,000 | 5,625 | 3,016 | 2,531 | 2,472 | 2,262 | 2,481 | 4,116 | 5,571 | 3,221 | 5,854 | |
Amounts receivable within one year40/41 |
7,345 | 13,403 | 4,940 | 3,079 | 334 | 1,691 | 341 | - | 2,057 | 2,055 | 2,300 | 7,007 | 4,507 | 7,823 | 7,717 | 10,382 | |
Trade receivables40 |
6,931 | 12,988 | 4,526 | 2,544 | - | 1,391 | - | - | 1,214 | 1,363 | 1,649 | 6,977 | 4,482 | 7,798 | 7,394 | 10,382 | |
Other amounts receivable41 |
414 | 414 | 414 | 535 | 334 | 300 | 341 | - | 843 | 692 | 651 | 30 | 25 | 25 | 323 | - | |
Cash at bank and in hand54/58 |
38,137 | 46,110 | 20,706 | 11,137 | 18,648 | 17,017 | 5,433 | 7,221 | 7,450 | 8,839 | 13,596 | 13,073 | 16,161 | 11,365 | 8,948 | 8,856 | |
Deferred charges and accrued income490/1 |
- | - | 497 | 1,300 | - | - | - | - | - | 1,296 | 1,296 | 1,532 | 1,263 | 1,212 | 1,465 | 1,192 | |
| Balance sheet: equity and liabilities | |||||||||||||||||
Total equity and liabilities10/49 |
58,025 | 71,068 | 37,889 | 28,518 | 32,841 | 35,312 | 27,748 | 21,531 | 26,117 | 18,411 | 24,052 | 29,686 | 34,034 | 33,375 | 31,415 | 38,890 | |
Equity10/15 |
35,148 | 40,040 | 28,230 | 24,011 | 20,539 | 18,158 | 5,477 | 8,387 | 8,187 | 15,954 | 23,395 | 26,107 | 25,497 | 24,748 | 20,327 | 16,424 | |
Contributions10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
Capital10 |
- | - | - | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | |
Issued capital100 |
- | - | - | 18,600 | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
Contributions outside capital11 |
18,600 | 18,600 | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Other1109/19 |
18,600 | 18,600 | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Reserves13 |
- | - | - | - | - | 533 | 533 | 533 | 533 | 533 | 533 | 533 | 503 | 465 | 244 | 49 | |
Non-distributable reserves130/1 |
- | - | - | - | - | 533 | - | - | - | - | - | - | - | - | - | - | |
Legal reserve130 |
- | - | - | - | - | 533 | 533 | 533 | 533 | 533 | 533 | 533 | 503 | 465 | 244 | 49 | |
Profit (loss) carried forward14 |
16,548 | 21,440 | 9,630 | 5,411 | 1,939 | -975 | -13,656 | -10,746 | -10,946 | -3,179 | 4,262 | 6,974 | 6,394 | 5,683 | 1,483 | -2,225 | |
Amounts payable17/49 |
22,877 | 31,028 | 9,659 | 4,508 | 12,302 | 17,154 | 22,271 | 13,144 | 17,930 | 2,457 | 657 | 3,579 | 8,537 | 8,627 | 11,088 | 22,466 | |
Amounts payable after more than one year17 |
- | - | - | - | - | - | - | 1,603 | 2,046 | - | - | - | - | - | - | - | |
Financial debts170/4 |
- | - | - | - | - | - | - | 1,603 | 2,046 | - | - | - | - | - | - | - | |
Amounts payable within one year42/48 |
22,877 | 31,028 | 9,659 | 4,508 | 12,302 | 17,154 | 22,271 | 11,541 | 15,884 | 2,457 | 657 | 2,079 | 8,537 | 8,627 | 11,088 | 22,466 | |
Trade debts44 |
16,851 | 16,628 | 4,090 | 1,155 | - | 315 | - | - | 2,184 | 1,737 | 308 | 965 | 2,267 | 780 | 1,510 | 1,357 | |
Suppliers440/4 |
16,851 | 16,628 | 4,090 | 1,155 | - | 315 | - | - | 2,184 | 1,737 | 308 | 965 | 2,267 | 780 | 1,510 | 1,357 | |
Taxes, remuneration and social security45 |
6,025 | 11,358 | 2,966 | 1,515 | 1,783 | 639 | 71 | 1,341 | - | 720 | 349 | 1,114 | 1,960 | 1,741 | 152 | 482 | |
Taxes450/3 |
783 | 4,058 | 1,966 | 1,515 | 1,783 | 639 | 71 | 1,341 | - | 720 | 349 | 1,114 | 1,960 | 1,741 | 152 | 482 | |
Remuneration and social security454/9 |
5,242 | 7,300 | 1,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Other amounts payable47/48 |
- | 3,042 | 2,604 | 1,838 | 10,519 | 16,200 | 22,200 | 10,200 | 13,700 | - | - | - | 4,310 | 6,106 | 9,426 | 20,627 | |
Accrued charges and deferred income492/3 |
- | - | - | - | - | - | - | - | - | - | - | 1,500 | - | - | - | - | |
| Income statement | |||||||||||||||||
Turnover70 |
- | - | - | - | 84,966 | 91,631 | 104,233 | 63,510 | 60,043 | 53,926 | - | - | - | - | - | - | |
Non-recurring operating income76A |
- | 1,804 | - | - | - | - | - | 1 | - | - | - | - | - | - | 1,981 | - | |
Gross operating margin9900 |
-3,344 | 16,422 | 6,130 | 5,467 | 6,565 | 16,364 | 1,019 | 3,770 | -2,067 | -6,481 | -1,175 | 3,801 | 4,534 | 8,915 | 3,384 | 4,476 | |
Goods, raw materials, services and sundry goods60/61 |
- | - | - | - | 78,401 | 75,267 | 103,215 | 59,741 | 62,110 | 59,605 | - | - | - | - | - | - | |
Remuneration, social security and pensions62 |
- | - | - | - | - | - | 164 | - | - | - | - | - | - | - | - | - | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
- | - | - | - | 2,745 | 2,745 | 2,745 | 2,786 | 2,745 | 860 | 992 | 2,621 | 2,965 | 3,051 | 3,232 | 1,343 | |
Other operating charges640/8 |
1,296 | 1,351 | 677 | 751 | 500 | 839 | 845 | 721 | 407 | - | 437 | 486 | 462 | 462 | 451 | 1,788 | |
Non-recurring operating charges66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 250 | |
Operating profit (loss)9901 |
-4,641 | 15,071 | 5,453 | 4,717 | 3,320 | 12,780 | -2,735 | 263 | -5,219 | -7,341 | -2,604 | 694 | 1,107 | 5,402 | -299 | 1,345 | |
Financial income75/76B |
0 | 0 | 0 | - | - | - | - | 1 | 1 | 9 | 7 | 1 | - | 44 | 117 | 3 | |
Recurring financial income75 |
0 | 0 | 0 | - | - | - | - | - | 1 | 9 | 7 | 1 | - | 44 | 117 | 3 | |
Non-recurring financial income76B |
- | - | - | - | - | - | - | 1 | - | - | - | - | - | - | - | - | |
Financial charges65/66B |
147 | 56 | 88 | 121 | 72 | 99 | 175 | 64 | 198 | 109 | 115 | 85 | 50 | 101 | 398 | 117 | |
Recurring financial charges65 |
147 | 56 | 88 | 121 | 72 | 99 | 175 | 64 | 198 | 109 | 115 | 85 | 50 | 101 | 398 | 117 | |
Profit (loss) for the period before taxes9903 |
-4,788 | 15,016 | 5,365 | 4,595 | 3,248 | 12,681 | -2,910 | 200 | -5,416 | -7,441 | -2,712 | 610 | 1,057 | 5,345 | 1,401 | 981 | |
Income taxes67/77 |
103 | 3,206 | 1,145 | 1,123 | 867 | - | - | - | - | - | - | - | 308 | 924 | 153 | - | |
Profit (loss) for the period9904 |
-4,892 | 11,810 | 4,219 | 3,472 | 2,381 | 12,681 | -2,910 | 200 | -5,416 | -7,441 | -2,712 | 610 | 749 | 4,421 | 1,248 | 981 | |
Profit (loss) for the period to be appropriated9905 |
-4,892 | 11,810 | 4,219 | 3,472 | 2,381 | 12,681 | -2,910 | 200 | -5,416 | -7,441 | -2,712 | 610 | 749 | 4,421 | 1,248 | 981 | |
| Appropriation of the result | |||||||||||||||||
Profit (loss) to be appropriated9906 |
16,548 | 21,440 | 9,630 | 5,411 | 1,406 | -975 | -13,656 | -10,746 | -10,946 | -3,179 | 4,262 | 7,004 | 6,432 | 5,904 | 1,545 | -2,176 | |
Profit (loss) brought forward from the previous period14P |
21,440 | 9,630 | 5,411 | 1,939 | -975 | - | - | - | - | - | - | - | - | - | - | - | |
Transfer from equity791/2 |
- | - | - | - | 533 | - | - | - | - | - | - | - | - | - | - | - | |
Transfer to equity691/2 |
- | - | - | - | - | - | - | - | - | - | - | 30 | 38 | 221 | 62 | 49 | |
To the legal reserve6920 |
- | - | - | - | - | - | - | - | - | - | - | 30 | 38 | 221 | 62 | 49 | |
| Document | |||||||||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00387603 | |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00485417 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00424628 | |
| 31-12-2022 | micro format | 04-10-2023 | 2023-00470545 | |
| 31-12-2021 | full format | 08-06-2022 | 2022-20060432 | |
| 31-12-2020 | full format | 14-06-2021 | 2021-19900008 | |
| 31-12-2019 | full format | 20-11-2020 | 2020-71300107 | |
| 31-12-2018 | full format | 30-09-2019 | 2019-67800319 | |
| 31-12-2017 | micro format | 01-10-2018 | 2018-67100257 | |
| 31-12-2015 | full format | 11-08-2016 | 2016-42100398 | |
| 31-12-2014 | full format | 14-08-2015 | 2015-42200187 | |
| 31-12-2013 | full format | 14-08-2014 | 2014-42200461 | |
| 31-12-2012 | full format | 02-08-2013 | 2013-39300040 | |
| 31-12-2011 | full format | 27-07-2012 | 2012-35200063 | |
| 31-12-2010 | full format | 31-08-2011 | 2011-52900027 | |
| 31-12-2008 | full format | 14-07-2009 | 2009-40900288 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | - | - | - | - | 6,065 | 15,525 | 10 | 3,049 | -2,474 | -6,481 | -1,612 | 3,315 | 4,072 | 8,453 | 2,933 | 2,688 | |
| Cash flow | - | - | - | - | 5,126 | 15,426 | -165 | 2,986 | -2,671 | -6,581 | -1,720 | 3,231 | 3,714 | 7,472 | 4,480 | 2,324 | |
| Investment in fixed assets (approximation) | 15 | - | - | - | 0 | 0 | 7,800 | 1 | 13,726 | 11 | -3 | 227 | 3,561 | 315 | 2,109 | 8,647 | |
| Change in cash | -7,973 | 25,405 | 9,568 | -7,511 | 1,631 | 11,584 | -1,788 | -229 | - | -4,757 | 523 | -3,088 | 4,796 | 2,417 | - | - | |
| Working capital | 24,180 | 29,087 | 17,327 | 13,177 | 9,680 | 4,554 | -10,872 | -1,304 | -3,846 | 12,205 | 18,797 | 22,014 | 17,510 | 17,344 | 10,263 | 3,818 | |
| EBIT margin | - | - | - | - | 3.9% | 13.9% | -2.6% | 0.4% | -8.7% | -13.6% | - | - | - | - | - | - | |
| Solvency | 60.6% | 56.3% | 74.5% | 84.2% | 62.5% | 51.4% | 19.7% | 39.0% | 31.3% | 86.7% | 97.3% | 87.9% | 74.9% | 74.2% | 64.7% | 42.2% | |
| Current ratio | 2.06 | 1.94 | 2.79 | 3.92 | 1.79 | 1.27 | 0.51 | 0.89 | 0.76 | 5.97 | 29.61 | 11.59 | 3.05 | 3.01 | 1.93 | 1.17 | |
| Quick ratio | 1.99 | 1.92 | 2.71 | 3.44 | 1.54 | 1.09 | 0.26 | 0.63 | 0.60 | 4.96 | 26.17 | 10.40 | 2.57 | 2.36 | 1.64 | 0.91 | |
| Debt to equity | 0.65 | 0.77 | 0.34 | 0.19 | 0.60 | 0.94 | 4.07 | 1.57 | 2.19 | 0.15 | 0.03 | 0.14 | 0.33 | 0.35 | 0.55 | 1.37 | |
| ROE | -13.9% | 29.5% | 14.9% | 14.5% | 11.6% | 69.8% | -53.1% | 2.4% | -66.2% | -46.6% | -11.6% | 2.3% | 2.9% | 17.9% | 6.1% | 6.0% | |
| ROA | -8.4% | 16.6% | 11.1% | 12.2% | 7.3% | 35.9% | -10.5% | 0.9% | -20.7% | -40.4% | -11.3% | 2.1% | 2.2% | 13.2% | 4.0% | 2.5% | |
| Interest coverage | - | - | - | - | 84.24 | - | - | - | - | - | - | - | - | - | - | - | |
| Customer credit | - | - | - | - | 1 day | 6 days | 1 day | - | 7 days | 9 days | - | - | - | - | - | - | |
| Supplier credit | - | - | - | - | - | 2 days | - | - | 13 days | 11 days | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Financial fixed assets | €15 | - | - | - | - |
| Depreciation and write-downs of the year | - | - | - | - | €2,745 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €4,641, after a profit of €15,071 in 2024. It is the lowest result since 2017.
Debt's share of the balance-sheet total falls from 43.7% to 39.4%. Equity and debt are lower.
GEORGIO has no parent and no holdings in its annual accounts. SABBAGH Toni is the only director. GEORGIO shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Passiflora Kerselarenlaan 103, 1200 Woluwe-Saint-Lambert | 25-07-2007 | 2.163.977.948 |
| PASSIFOLRA registered office Richard Vandeveldestraat 24B, 1030 Schaerbeek 4776101 Retail sale of flowers, plants, seeds and fertilisers | 02-02-2019 | 2.285.654.847 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21902A0309/00T002 | 286 m² | 1 · 237 m² | 18.0 m · 6 |
| 21673D0151/00Z009 | 120 m² | 1 · 87 m² | 15.6 m · 4 |
If something looks wrong or is missing, please tell us.