Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Of this, €72,258 falls due within a year.
In 2025, 7 people joined and 7 left.
The 2018 accounts came latest: 30 days after the end of the period.
Lower net result than 84% of companies in food and beverage service. Sector median €10,329 · 4,832 companies.
The dashed line is the sector median: 1.8% across 23,788 companies (NACE 56, micro).
About 2 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 19% of them on solvency, 27% on liquidity, 8% on profitability and 2% on growth.
The bankruptcy probability was computed on 08-11-2026 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, 598 companies had the same profile as GI E GIU has now. Each dot stands for 2 companies, two years later.
Another 1.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GI E GIU itself: 2.4% 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 598 companies, not a prediction for GI E GIU. 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 0.67 (0.94 in 2024), below 1. Short-term debt is 96.3% and cash 26.2% of total assets. Equity is negative.
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 4 days before 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 | ||||
|---|---|---|---|---|
| GI E GIU Waremme | €75,033 | €292,167 | -21.5% | - |
| TOI TOI Antwerp | €81,986 | €301,855 | -26.8% | - |
| REMEMBER PIT Rixensart | €76,944 | €290,461 | -36.4% | - |
| RLC FOOD COMPANY Liège | €109,996 | €339,067 | -5.8% | - |
| Fewa Schoten | €90,834 | €262,089 | 33.8% | - |
| WHY NOT BIO Mortsel | €90,043 | €250,500 | -361.7% | - |
| JOCONAM Namur | €89,777 | €243,633 | -109.6% | - |
These companies have the same main activity as GI E GIU: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €76,900 and €110,000, founded between 2014 and 2017.
GI E GIU files the abbreviated format. That format states no turnover. The gross margin rose from €219,720 in 2017 to €292,167 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €680,000. Estimated: probably between €650,000 and €960,000.
Higher than 16% of 4,838 companies in 2025.
Higher than 30% of 4,737 companies in 2025.
Higher than 9% of 4,761 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 7 people joined and 7 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
75,033 | 87,714 | 109,533 | 77,524 | 84,410 | 106,582 | 120,591 | 90,351 | 74,726 | |
21/28 |
26,289 | 29,597 | 39,078 | 29,623 | 40,090 | 62,533 | 83,768 | 61,834 | 56,409 | |
22/27 |
25,989 | 29,297 | 38,778 | 29,323 | 39,790 | 62,233 | 83,468 | 61,534 | 56,109 | |
23 |
15,804 | 14,682 | 18,819 | 27,323 | 35,083 | 54,380 | 69,506 | 45,407 | 46,909 | |
24 |
10,184 | 14,616 | 19,958 | 2,001 | 4,707 | 6,519 | 11,029 | 11,594 | 3,067 | |
26 |
- | - | - | - | - | 1,333 | 2,933 | 4,533 | 6,133 | |
28 |
300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | 300 | |
29/58 |
48,745 | 58,117 | 70,455 | 47,900 | 44,320 | 44,049 | 36,823 | 28,516 | 18,317 | |
3 |
14,880 | 4,248 | 4,248 | 4,248 | 4,248 | 4,248 | 5,544 | 5,544 | 5,544 | |
30/36 |
14,880 | 4,248 | 4,248 | 4,248 | 4,248 | 4,248 | 5,544 | 5,544 | 5,544 | |
40/41 |
12,615 | 31,594 | 47,737 | 36,689 | 17,836 | 11,221 | 18,033 | 2,145 | - | |
40 |
5,444 | 26,930 | 26,930 | 28,920 | 3,004 | 2,524 | - | - | - | |
41 |
7,171 | 4,664 | 20,806 | 7,769 | 14,832 | 8,697 | 18,033 | 2,145 | - | |
54/58 |
19,667 | 17,741 | 15,667 | 6,963 | 22,236 | 28,580 | 13,246 | 20,827 | 12,773 | |
490/1 |
1,583 | 4,534 | 2,804 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
75,033 | 87,714 | 109,533 | 77,524 | 84,410 | 106,582 | 120,591 | 90,351 | 74,726 | |
10/15 |
-16,113 | 6,632 | 22,482 | 13,923 | -6,625 | 21,749 | 22,996 | 25,516 | 28,828 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | - | - | 6,200 | 6,200 | - | - | - | - | |
100 |
- | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
11 |
6,200 | 6,200 | 6,200 | - | - | - | - | - | - | |
1100/10 |
6,200 | 6,200 | 6,200 | - | - | - | - | - | - | |
13 |
- | - | - | - | - | 1,456 | 1,456 | 1,456 | 1,456 | |
130/1 |
- | - | - | - | - | 1,456 | - | - | - | |
130 |
- | - | - | - | - | 1,456 | 1,456 | 1,456 | 1,456 | |
14 |
-22,313 | 432 | 16,282 | 7,723 | -12,825 | 14,093 | 15,340 | 17,859 | 21,172 | |
17/49 |
91,146 | 81,082 | 87,051 | 63,601 | 91,035 | 84,833 | 97,595 | 64,835 | 45,898 | |
17 |
- | - | - | 6,393 | 14,694 | 22,747 | 32,586 | 8,222 | 9,373 | |
170/4 |
- | - | - | 6,393 | 14,694 | 22,747 | 32,586 | 8,222 | 9,373 | |
42/48 |
72,258 | 62,076 | 84,864 | 57,208 | 76,341 | 62,085 | 65,010 | 56,614 | 36,525 | |
42 |
6,455 | 14,157 | 12,930 | 13,899 | 8,053 | 15,593 | 17,774 | 7,726 | 5,620 | |
44 |
39,701 | 19,054 | 51,098 | 39,140 | 42,497 | 42,994 | 42,775 | 34,387 | 25,085 | |
440/4 |
39,701 | 19,054 | 51,098 | 39,140 | 42,497 | 42,994 | 42,775 | 34,387 | 25,085 | |
45 |
20,232 | 28,866 | 20,836 | 4,169 | 25,790 | 3,498 | 4,461 | 14,466 | 5,786 | |
450/3 |
187 | 2,296 | 4,800 | 4,169 | 3,335 | 138 | 234 | 7,668 | 5,786 | |
454/9 |
20,044 | 26,570 | 16,036 | - | 22,455 | 3,360 | 4,227 | 6,798 | - | |
47/48 |
5,870 | - | - | - | - | - | - | 34 | 34 | |
492/3 |
18,888 | 19,006 | 2,187 | - | - | - | - | - | - | |
| Income statement | ||||||||||
9900 |
292,167 | 349,914 | 366,187 | 320,659 | 205,719 | 272,983 | 301,362 | 265,321 | 219,720 | |
60/61 |
- | - | - | - | - | 558,328 | 524,783 | 486,763 | 407,713 | |
62 |
289,052 | 336,083 | 331,701 | 277,677 | 223,755 | 242,170 | 257,170 | 238,388 | 176,350 | |
630 |
10,759 | 12,565 | 19,201 | 24,500 | 30,207 | 29,821 | 28,104 | 17,317 | 8,493 | |
640/8 |
5,236 | 6,277 | 9,206 | 4,783 | 1,208 | 2,825 | 3,151 | 7,865 | 2,247 | |
66A |
1,227 | - | - | - | - | - | - | - | - | |
9901 |
-14,107 | -5,010 | 6,078 | 13,700 | -49,451 | -1,834 | 12,937 | 1,752 | 32,631 | |
75/76B |
1,769 | 18 | 12,642 | 12,662 | 29,499 | 7,202 | 378 | 4,026 | - | |
75 |
1,769 | 18 | 3,883 | 413 | 29,499 | 7,202 | 378 | - | - | |
76B |
- | - | 8,759 | 12,248 | - | - | - | 4,026 | - | |
65/66B |
10,090 | 10,522 | 9,906 | 5,321 | 8,422 | 4,446 | 14,106 | 7,470 | 3,509 | |
65 |
10,090 | 10,522 | 6,894 | 2,576 | 7,608 | 4,446 | 13,704 | 2,636 | 3,509 | |
66B |
- | - | 3,012 | 2,745 | 814 | - | 403 | 4,834 | - | |
9903 |
-22,428 | -15,514 | 8,814 | 21,041 | -28,374 | 923 | -791 | -1,693 | 29,121 | |
67/77 |
316 | 336 | 255 | 493 | - | 2,170 | 1,729 | 1,620 | 6,493 | |
9904 |
-22,744 | -15,851 | 8,559 | 20,548 | -28,374 | -1,247 | -2,519 | -3,313 | 22,628 | |
9905 |
-22,744 | -15,851 | 8,559 | 20,548 | -28,374 | -1,247 | -2,519 | -3,313 | 22,628 | |
| Appropriation of the result | ||||||||||
9906 |
-22,313 | 432 | 16,282 | 7,723 | -14,281 | 14,093 | 15,340 | 17,859 | 22,628 | |
14P |
432 | 16,282 | 7,723 | -12,825 | 14,093 | - | - | - | - | |
791/2 |
- | - | - | - | 1,456 | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | 1,456 | |
6920 |
- | - | - | - | - | - | - | - | 1,456 | |
| Social balance sheet | ||||||||||
9087 |
10 | 11.2 | 11.4 | 12.9 | 13.1 | 8.7 | - | 8 | 5.2 | |
Hours worked1013 |
11,547 | 11,582 | 12,805 | 12,613 | 10,924 | 10,980 | - | 13,730 | 10,851 | |
| Document | ||||||||||
The notes to these accounts have 5 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 11-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 11-07-2026 | 2026-00287479 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00408224 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00239486 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00296036 | |
| 31-12-2021 | micro format | 08-08-2022 | 2022-20283544 | |
| 31-12-2020 | micro format | 06-08-2021 | 2021-46600267 | |
| 31-12-2019 | micro format | 09-07-2020 | 2020-28400532 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-57000552 | |
| 31-12-2017 | micro format | 28-08-2018 | 2018-53700139 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| -3,348 | 7,555 | 25,279 | 38,200 | -19,244 | 27,987 | 41,041 | 19,068 | 41,124 | ||
| -11,985 | -3,286 | 27,760 | 45,048 | 1,833 | 28,574 | 25,584 | 14,004 | 31,121 | ||
| 7,450 | 3,085 | 28,655 | 14,033 | 7,764 | 8,585 | 50,038 | 22,742 | 64,902 | ||
| 1,926 | 2,074 | 8,704 | -15,272 | -6,345 | 15,334 | -7,581 | 8,054 | - | ||
| -23,513 | -3,960 | -14,408 | -9,307 | -32,021 | -18,036 | -28,187 | -28,097 | -18,208 | ||
| -21.5% | 7.6% | 20.5% | 18.0% | -7.8% | 20.4% | 19.1% | 28.2% | 38.6% | ||
| 0.67 | 0.94 | 0.83 | 0.84 | 0.58 | 0.71 | 0.57 | 0.50 | 0.50 | ||
| 0.47 | 0.87 | 0.78 | 0.76 | 0.52 | 0.64 | 0.48 | 0.41 | 0.35 | ||
| - | 12.23 | 3.87 | 4.57 | - | 3.90 | 4.24 | 2.54 | 1.59 | ||
| - | -239.0% | 38.1% | 147.6% | - | -5.7% | -11.0% | -13.0% | 78.5% | ||
| -30.3% | -18.1% | 7.8% | 26.5% | -33.6% | -1.2% | -2.1% | -3.7% | 30.3% | ||
| -0.33 | 0.72 | 3.67 | 14.83 | -2.53 | - | - | - | - | ||
| - | - | - | - | - | 28 days | 30 days | 26 days | 22 days |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 11 | 8 | 13 | 15 |
| full-time | 1 | - | - | - | 1 |
| part-time | 7 | 11 | 8 | 13 | 14 |
| in full-time equivalents | 6.8 | 7.3 | 6.2 | 9.4 | 12.1 |
| 7.7 | 7.3 | 7.9 | 10 | 10.2 | |
| On a permanent contract | 7 | 7 | 8 | 11 | 14 |
| Joined | 7 | 12 | 18 | - | - |
| Left | 7 | 9 | 21 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,450 | €3,085 | €28,655 | €14,033 | €7,764 |
| €10,759 | €12,565 | €19,201 | €24,500 | €30,207 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €14,107, larger than the loss of €5,010 in 2024. It is the lowest result since 2021.
Equity is negative. Debt (€91,146) exceeds the balance-sheet total (€75,033).
GI E GIU has no parent and no holdings in its annual accounts. Edigio ARLIA is the only director. GI E GIU shares no director with another company.
| LECOT
establishment since 25-11-2019 · founded in 1958 |
657 FTE (2025) 0405.350.033 |
| SYNINVEST
establishment since 01-12-2009 · founded in 2009 |
total assets €572,891 (2025) 0820.879.920 |
| SP BOX
registered office since 06-07-2018 · founded in 2018 · accounts filed late |
total assets €422,076 (2024) 0699.699.107 |
| JACK’S TEAM COACHING
registered office since 29-03-2017 · founded in 2017 · accounts filed late |
total assets €250,067 (2024) 0673.615.312 |
| BRM IMMO
registered office since 31-05-2017 · founded in 2017 · negative equity (2025) |
total assets €234,338 (2025) 0676.449.591 |
| JACK'S TEAM MANAGEMENT
registered office since 05-02-2023 · founded in 2023 · negative equity (2025) |
total assets €3,047 (2025) 0798.099.568 |
| Kaivers, Romain (sole trader)
establishment since 06-05-2025 |
founded in 2025 1021.851.250 |
| Rombeaux, Emilie (sole trader)
establishment since 01-01-2022 |
founded in 2012 0842.804.690 |
| Bartlett, Benjamin (sole trader)
establishment since 01-05-2013 |
founded in 2013 0533.800.601 |
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 | FASFC approval |
|---|---|---|---|
| Rue Saint-Eloi 211 registered office 4300 Waremme | 01-11-2016 | 2.257.699.348 | Restaurant |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 64074A0505/00C002 | 1,376 m² | 1 · 185 m² | 8.1 m · 2 |
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