Giraffe
Judicial reorganisationSummary
The file of Giraffe contains 1 judicial reorganisation, as published in the Belgian State Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show negative equity (-€166,570) and a net result of -€8,265. Equity is shrinking by ~49% per year across the filed fiscal years. Its solvency ranks better than 8% of 18537 sector peers (fiscal year 2025).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Leuven
- Opened
- 4 June 2026
- Track
- Reorganisation by collective agreement
- Docket number
- 20260011
- Delegated judge
- Rene Thielens
- Official Gazette
- 09-06-2026 (pdf) ↗search the document for 2026/124976
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help. Full guide for creditors
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Checked score
Score 2025
Axes · tick = 2024
Profitability12▲+12
Solvency0=
Growth32=
Track record60
Credit verdict
No credit on open account during an ongoing judicial reorganisation
Liquidity short (current ratio 0.47 against 0.49 in 2024; short-term debt: 197.6% and cash: 0.9% of total assets), and equity is negative.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€166,570
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
on the day
2023
23 d late
2022
30 d late
2021
31 d late
2020
31 d late
2019
31 d late
← 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 20 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Is the registered address a letterbox address or a business centre?Address check Are there other customers at risk in your own list?Debtor check How is the Retail trade sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€166,570▼ 5.2%
2024 · -€158,305
Total assets
€129,092▼ 9.3%
2024 · €142,390
Net result
-€8,265▲ 84.6%
2024 · -€53,810
Working capital
-€135,973▲ 1.3%
2024 · -€137,743
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€46,155-€89,071▼ 93.0%-€39,999▲ 55.1%-€45,761▼ 14.4%€793
Net result-€54,548▼ 2,798%-€95,756▼ 75.5%-€47,935▲ 49.9%-€53,810▼ 12.3%-€8,265▲ 84.6%
Equity€39,196▼ 58.2%-€56,559-€104,494▼ 84.8%-€158,305▼ 51.5%-€166,570▼ 5.2%
Total assets€175,502▼ 28.7%€146,734▼ 16.4%€155,329▲ 5.9%€142,390▼ 8.3%€129,092▼ 9.3%
Debt€136,306▼ 10.6%€203,293▲ 49.1%€259,824▲ 27.8%€300,695▲ 15.7%€295,662▼ 1.7%
Working capital€57,033▼ 44.4%-€46,695-€84,204▼ 80.3%-€137,743▼ 63.6%-€135,973▲ 1.3%
Staff (FTE)1.52.4▲ 60.0%2.1▼ 12.5%2.1=
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €793 after a loss of €45,761 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €129,092
Fixed assets
€9,976 ▼ 4.5%
Current assets
€119,116 ▼ 9.7%
Key figures and ratios
EBITDA
€1,263▲
2024 · -€44,829
Cash flow
-€7,795▲
2024 · -€52,878
Solvency
-129.0%▼
2024 · -111.2%
Current ratio
0.47▼
2024 · 0.49
Quick ratio
0.05▼
2024 · 0.08
Debt to equity
-1.78▲
2024 · -1.90
ROA
-6.4%▲
2024 · -37.8%
Interest coverage
0.15▲
2024 · -6.15
Debt ≤ 1 year
€255,089▼
2024 · €269,687
Income taxes
€793▲
2024 · €777
Staff costs
€81,978▼
2024 · €97,419
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €77,511 | €104,182 | €91,332 | €97,419 | €81,978 | ▼ 15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,984 | €4,899 | €2,346 | €932 | €470 | ▼ 49.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €31,000 | - | - | €67,738 | €3,125 | ▼ 95.4% |
| Other operating charges640/8 | €1,306 | €3,506 | €1,253 | €790 | €3,322 | ▲ 321% |
| Gross operating margin9900 | €71,645 | €23,517 | €54,932 | €121,118 | €89,689 | ▼ 25.9% |
| Operating profit (loss)9901 | -€46,155 | -€89,071 | -€39,999 | -€45,761 | €793 | ▲ 102% |
| Financial income75/76B | €1,243 | €633 | €657 | €12 | €82 | ▲ 590% |
| Recurring financial income75 | €1,243 | €633 | €657 | €12 | €82 | ▲ 590% |
| Financial charges65/66B | €9,232 | €6,556 | €7,806 | €7,284 | €8,347 | ▲ 14.6% |
| Recurring financial charges65 | €9,232 | €6,556 | €7,806 | €7,284 | €8,347 | ▲ 14.6% |
| Profit (loss) for the period before taxes9903 | -€54,145 | -€94,994 | -€47,148 | -€53,033 | -€7,472 | ▲ 85.9% |
| Income taxes67/77 | €403 | €762 | €787 | €777 | €793 | ▲ 2.1% |
| Profit (loss) for the period9904 | -€54,548 | -€95,756 | -€47,935 | -€53,810 | -€8,265 | ▲ 84.6% |
| Profit (loss) for the period to be appropriated9905 | -€54,548 | -€95,756 | -€47,935 | -€53,810 | -€8,265 | ▲ 84.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €175,502 | €146,734 | €155,329 | €142,390 | €129,092 | ▼ 9.3% |
| Fixed assets21/28 | €13,920 | €9,020 | €11,379 | €10,446 | €9,976 | ▼ 4.5% |
| Intangible fixed assets21 | €5,143 | €1,286 | - | - | - | - |
| Tangible fixed assets22/27 | €2,177 | €1,135 | €4,779 | €3,846 | €3,376 | ▼ 12.2% |
| Furniture and vehicles24 | €1,867 | €980 | €462 | - | - | - |
| Other tangible fixed assets26 | €310 | €155 | €4,317 | €3,846 | €3,376 | ▼ 12.2% |
| Financial fixed assets28 | €6,600 | €6,600 | €6,600 | €6,600 | €6,600 | = |
| Current assets29/58 | €161,583 | €137,714 | €143,950 | €131,944 | €119,116 | ▼ 9.7% |
| Stocks and contracts in progress3 | €159,920 | €137,703 | €140,634 | €109,448 | €106,729 | ▼ 2.5% |
| Stocks30/36 | €159,920 | €137,703 | €140,634 | €109,448 | €106,729 | ▼ 2.5% |
| Amounts receivable within one year40/41 | - | €11 | €3,316 | €4,753 | €9,583 | ▲ 102% |
| Trade receivables40 | - | - | €3,305 | €4,742 | €9,573 | ▲ 102% |
| Other amounts receivable41 | - | €11 | €11 | €11 | €11 | = |
| Current investments50/53 | - | - | - | €830 | €1,680 | ▲ 102% |
| Cash at bank and in hand54/58 | €1,446 | - | - | €16,913 | €1,124 | ▼ 93.4% |
| Deferred charges and accrued income490/1 | €217 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €175,502 | €146,734 | €155,329 | €142,390 | €129,092 | ▼ 9.3% |
| Equity10/15 | €39,196 | -€56,559 | -€104,494 | -€158,305 | -€166,570 | ▼ 5.2% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €104,025 | €104,025 | €104,025 | €104,025 | €104,025 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €102,165 | €102,165 | €102,165 | €102,165 | €102,165 | = |
| Profit (loss) carried forward14 | -€77,229 | -€172,985 | -€220,920 | -€274,730 | -€282,995 | ▼ 3.0% |
| Amounts payable17/49 | €136,306 | €203,293 | €259,824 | €300,695 | €295,662 | ▼ 1.7% |
| Amounts payable within one year42/48 | €104,550 | €184,409 | €228,154 | €269,687 | €255,089 | ▼ 5.4% |
| Current portion of amounts payable after more than one year42 | €36,988 | €28,809 | €20,420 | €11,816 | €2,977 | ▼ 74.8% |
| Financial debts43 | €12,577 | €44,541 | €38,118 | €43,795 | €48,007 | ▲ 9.6% |
| Credit institutions430/8 | €12,577 | €44,541 | €38,118 | €43,795 | €48,007 | ▲ 9.6% |
| Trade debts44 | €8,726 | €50,063 | €73,585 | €107,973 | €89,938 | ▼ 16.7% |
| Suppliers440/4 | €8,726 | €49,729 | €73,585 | €107,973 | €89,938 | ▼ 16.7% |
| Bills of exchange payable441 | - | €334 | - | - | - | - |
| Advances received on contracts in progress46 | - | - | - | €5,638 | - | - |
| Taxes, remuneration and social security45 | €21,189 | €29,357 | €12,411 | €20,256 | €32,484 | ▲ 60.4% |
| Taxes450/3 | €2,821 | €19,826 | €2,896 | €5,214 | €4,942 | ▼ 5.2% |
| Remuneration and social security454/9 | €18,368 | €9,530 | €9,515 | €15,042 | €27,543 | ▲ 83.1% |
| Other amounts payable47/48 | €25,070 | €31,640 | €83,620 | €80,208 | €81,683 | ▲ 1.8% |
| Accrued charges and deferred income492/3 | €31,756 | €18,885 | €31,669 | €31,008 | €40,573 | ▲ 30.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€54,548 | -€95,756 | -€47,935 | -€53,810 | -€8,265 | ▲ 84.6% |
| + Depreciation and write-downs630 | €7,984 | €4,899 | €2,346 | €932 | €470 | ▼ 49.5% |
| Operating cash flow (approximation) | -€46,564 | -€90,857 | -€45,589 | -€52,878 | -€7,795 | ▲ 85.3% |
| Investment in fixed assets (approximation) | - | €0 | -€4,705 | €0 | €0 | - |
| Change in cash | - | - | - | - | -€15,789 | - |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
09-06
Judicial reorganisation
Opening
Ondernemingsrechtbank Leuven · collective agreement (SME) · event 04-06-2026
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet -€95,756
Net result drops to -€95,756, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
SignalFinancial 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, Tielt-Winge · 1 establishment unit since 2013
Ground area
938 m²
Building footprint
104 m²
Volume, LiDAR
549 m³
Parcel 24106C0167/00P000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Giraffe 2
since 20132.218.943.294
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24106C0167/00P000 | Flanders | 938 m² | 1 · 104 m² | 7.0 m · 2 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
Legal Entity Identifier
984500P8AE79EDDA9151
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Of 262 companies in sector 47511 we hold annual accounts for 98. 78 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
Founded20-12-2012
Fiscal year end31-12
Activities, NACEBEL 2025
47511Retail trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47690Retail sale of other cultural and recreation goods
47721Retail sale of footwear
E-invoicing
Reachable via Peppol
Peppol ID
0208:0508960483
Also
9925:BE0508960483
Registered
15-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.