Ghazna Bazaar
ActiveSummary
Ghazna Bazaar has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €419k and a net result of €222k. Equity is growing by ~86.5% per year across the filed fiscal years. Its solvency ranks better than 32% of 10407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+7
Solvency47▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.14 against 0.99 in 2024; short-term debt: 77.7% and cash: 20.1% of total assets), and 78.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
21.8%
Return on assets
11.5%
Age of the figures
9 mo
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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
54 d late
2023
43 d late
2022
29 d late
2021
198 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€419k▲ 112%
2024 · €197k
2021: €32klowest in 5 years
2022: €70k▲ +117% vs 2021
2023: €94k▲ +34.8% vs 2022
2024: €197k▲ +110% vs 2023
2025: €419k▲ +112% vs 2024highest in 5 years
2021 → 2025
Total assets
€1.92M▲ 6.4%
2024 · €1.81M
2021: €531klowest in 5 years
2022: €1.06M▲ +98.9% vs 2021
2023: €1.31M▲ +23.7% vs 2022
2024: €1.81M▲ +38.4% vs 2023
2025: €1.92M▲ +6.4% vs 2024highest in 5 years
2021 → 2025
Net result
€222k▲ 115%
2024 · €103k
2021: €12klowest in 5 years
2022: €38k▲ +211% vs 2021
2023: €24k▼ -35.6% vs 2022
2024: €103k▲ +325% vs 2023
2025: €222k▲ +115% vs 2024highest in 5 years
2021 → 2025
Working capital
€207k
2024 · €-8k
2021: €-108klowest in 5 years
2022: €-61k▲ +44.0% vs 2021
2023: €-4k▲ +93.8% vs 2022
2024: €-8k▼ -122% vs 2023
2025: €207k▲ +2590% vs 2024highest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€32k-€70k▲ 117%€94k▲ 34.8%€197k▲ 110%€419k▲ 112%
2021: €32klowest in 5 years
2022: €70k▲ +117% vs 2021
2023: €94k▲ +34.8% vs 2022
2024: €197k▲ +110% vs 2023
2025: €419k▲ +112% vs 2024highest in 5 years
Operating result€25k-€66k▲ 165%€55k▼ 17.4%€157k▲ 188%€312k▲ 98.1%
2021: €25klowest in 5 years
2022: €66k▲ +165% vs 2021
2023: €55k▼ -17.4% vs 2022
2024: €157k▲ +188% vs 2023
2025: €312k▲ +98.1% vs 2024highest in 5 years
Net result€12k-€38k▲ 211%€24k▼ 35.6%€103k▲ 325%€222k▲ 115%
2021: €12klowest in 5 years
2022: €38k▲ +211% vs 2021
2023: €24k▼ -35.6% vs 2022
2024: €103k▲ +325% vs 2023
2025: €222k▲ +115% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 98% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.92M
Fixed assets
€222k ▲ 5.4%
Current assets
€1.70M ▲ 6.5%
Equity and liabilities €1.92M
Equity
€419k ▲ 112%
Debt
€1.51M ▼ 6.6%
Debt's share of the balance-sheet total falls from 89.1% to 78.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€363k▲
2024 · €192k
Cash flow
€273k▲
2024 · €138k
Current ratio
1.14▲
2024 · 0.99
Quick ratio
1.07▲
2024 · 0.88
Debt to equity
3.59▼
2024 · 8.18
ROE
52.9%▲
2024 · 52.3%
ROA
11.5%▲
2024 · 5.7%
Interest coverage
28.23▲
2024 · 8.58
Debt ≤ 1 year
€1.50M▼
2024 · €1.61M
Income taxes
€78k▲
2024 · €32k
Staff costs
€189k▲
2024 · €164k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.81M€1.92M▲
Fixed assets21/28€211k€222k▲
Tangible fixed assets22/27€208k€217k▲
Plant, machinery and equipment23€63k€55k▼
Furniture and vehicles24€115k€137k▲
Other tangible fixed assets26€31k€25k▼
Financial fixed assets28€2k€5k▲
Current assets29/58€1.60M€1.70M▲
Stocks and contracts in progress3€186k€98k▼
Stocks30/36€186k€98k▼
Amounts receivable within one year40/41€925k€1.21M▲
Trade receivables40€344k€375k▲
Other amounts receivable41€581k€836k▲
Cash at bank and in hand54/58€482k€386k▼
Deferred charges and accrued income490/1€6k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.81M€1.92M▲
Equity10/15€197k€419k▲
Contributions10/11€20k€20k=
Profit (loss) carried forward14€177k€399k▲
Amounts payable17/49€1.61M€1.51M▼
Amounts payable within one year42/48€1.61M€1.50M▼
Financial debts43€23€37▲
Credit institutions430/8€23€37▲
Trade debts44€880k€1.24M▲
Suppliers440/4€880k€1.24M▲
Taxes, remuneration and social security45€79k€182k▲
Taxes450/3€52k€136k▲
Remuneration and social security454/9€27k€46k▲
Other amounts payable47/48€648k€73k▼
Accrued charges and deferred income492/3€5k€10k▲
Income statement
Code20242025
Remuneration, social security and pensions62€164k€189k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€51k▲
Other operating charges640/8€12k€7k▼
Gross operating margin9900€369k€559k▲
Operating profit (loss)9901€157k€312k▲
Financial income75/76B€453€444▼
Recurring financial income75€453€444▼
Financial charges65/66B€22k€13k▼
Recurring financial charges65€22k€13k▼
Profit (loss) for the period before taxes9903€136k€299k▲
Income taxes67/77€32k€78k▲
Profit (loss) for the period9904€103k€222k▲
Profit (loss) for the period to be appropriated9905€103k€222k▲
Appropriation of the result
Profit (loss) to be appropriated9906€177k€399k▲
Profit (loss) brought forward from the previous period14P€74k€177k▲
Social balance
Average headcount (FTE)9087-6.1
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €86k | €130k | €163k | €164k | €189k | ▲ 15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €17k | €17k | €35k | €51k | ▲ 47.7% |
| Other operating charges640/8 | €3k | €7k | €3k | €12k | €7k | ▼ 46.4% |
| Gross operating margin9900 | €127k | €219k | €239k | €369k | €559k | ▲ 51.7% |
| Operating profit (loss)9901 | €25k | €66k | €55k | €157k | €312k | ▲ 98.1% |
| Financial income75/76B | €4 | €8 | €1k | €453 | €444 | ▼ 2.1% |
| Recurring financial income75 | €4 | €8 | €1k | €453 | €444 | ▼ 2.1% |
| Financial charges65/66B | €10k | €18k | €24k | €22k | €13k | ▼ 42.5% |
| Recurring financial charges65 | €10k | €18k | €24k | €22k | €13k | ▼ 42.5% |
| Profit (loss) for the period before taxes9903 | €15k | €49k | €32k | €136k | €299k | ▲ 121% |
| Income taxes67/77 | €3k | €11k | €8k | €32k | €78k | ▲ 140% |
| Profit (loss) for the period9904 | €12k | €38k | €24k | €103k | €222k | ▲ 115% |
| Profit (loss) for the period to be appropriated9905 | €12k | €38k | €24k | €103k | €222k | ▲ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €531k | €1.06M | €1.31M | €1.81M | €1.92M | ▲ 6.4% |
| Fixed assets21/28 | €141k | €131k | €118k | €211k | €222k | ▲ 5.4% |
| Tangible fixed assets22/27 | €137k | €126k | €111k | €208k | €217k | ▲ 4.1% |
| Plant, machinery and equipment23 | €95k | €83k | €74k | €63k | €55k | ▼ 12.5% |
| Furniture and vehicles24 | - | - | - | €115k | €137k | ▲ 19.8% |
| Other tangible fixed assets26 | €42k | €43k | €37k | €31k | €25k | ▼ 20.4% |
| Financial fixed assets28 | €3k | €4k | €7k | €2k | €5k | ▲ 126% |
| Current assets29/58 | €391k | €926k | €1.19M | €1.60M | €1.70M | ▲ 6.5% |
| Stocks and contracts in progress3 | €162k | €380k | €366k | €186k | €98k | ▼ 47.3% |
| Stocks30/36 | €162k | €380k | €366k | €186k | €98k | ▼ 47.3% |
| Amounts receivable within one year40/41 | €6k | €333k | €579k | €925k | €1.21M | ▲ 30.9% |
| Trade receivables40 | €4k | €333k | €297k | €344k | €375k | ▲ 8.9% |
| Other amounts receivable41 | €1k | €382 | €282k | €581k | €836k | ▲ 44.0% |
| Cash at bank and in hand54/58 | €223k | €213k | €242k | €482k | €386k | ▼ 19.9% |
| Deferred charges and accrued income490/1 | - | - | €3k | €6k | €7k | ▲ 23.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €531k | €1.06M | €1.31M | €1.81M | €1.92M | ▲ 6.4% |
| Equity10/15 | €32k | €70k | €94k | €197k | €419k | ▲ 112% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Profit (loss) carried forward14 | €12k | €50k | €74k | €177k | €399k | ▲ 125% |
| Amounts payable17/49 | €499k | €987k | €1.21M | €1.61M | €1.51M | ▼ 6.6% |
| Amounts payable within one year42/48 | €499k | €987k | €1.19M | €1.61M | €1.50M | ▼ 6.9% |
| Financial debts43 | €1 | €0 | - | €23 | €37 | ▲ 62.7% |
| Credit institutions430/8 | €1 | €0 | - | €23 | €37 | ▲ 62.7% |
| Trade debts44 | €306k | €720k | €969k | €880k | €1.24M | ▲ 41.0% |
| Suppliers440/4 | €306k | €720k | €969k | €880k | €1.24M | ▲ 41.0% |
| Advances received on contracts in progress46 | €8k | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €30k | €59k | €41k | €79k | €182k | ▲ 130% |
| Taxes450/3 | €13k | €36k | €19k | €52k | €136k | ▲ 161% |
| Remuneration and social security454/9 | €16k | €23k | €22k | €27k | €46k | ▲ 70.5% |
| Other amounts payable47/48 | €155k | €207k | €182k | €648k | €73k | ▼ 88.7% |
| Accrued charges and deferred income492/3 | - | - | €20k | €5k | €10k | ▲ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €38k | €24k | €103k | €222k | ▲ 115% |
| + Depreciation and write-downs630 | €13k | €17k | €17k | €35k | €51k | ▲ 47.7% |
| Operating cash flow (approximation) | €25k | €54k | €42k | €138k | €273k | ▲ 98.1% |
| Investment in fixed assets (approximation) | - | €-7k | €-5k | €-127k | €-63k | ▲ 50.8% |
| Change in cash | - | €-9k | €29k | €240k | €-96k | ▼ 140% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2021net €222k ▲115%
Operating result €312k, net result €222k, both a record.
31-12
Financial
Equity above €200kEq €419k ▲112%
5 profitable years in a row build equity to €419k.
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
2024
31-12
Financial
Equity above €150kEq €197k ▲110%
4 profitable years in a row build equity to €197k.
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
14-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 198 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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 2020
Ground area
368 m²
Building footprint
368 m²
Volume, LiDAR
3,019 m³
Parcel 11805E0527/00G005, Flanders · tallest building 15.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AFGHAN BAZAAR
since 20202.307.802.026
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11805E0527/00G005 | Flanders | 368 m² | 1 · 368 m² | 15.6 m · 3 fl. |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.307.802.026
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,851. 3,372 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
Founded20-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
46389Wholesale of other food products
47252Retail sale of beverages, general range
47260Retail trade
47559Retail sale of other household articles
Scores and ratios are computed by Checked and are not a credit decision.