GULHAN
ActiveSummary
GULHAN has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €437,174 and a net result of €14,409. Equity is growing by ~20.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 18940 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72▲+4
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 5.29 against 4.55 in 2023; short-term debt: 15.8% and cash: 68.4% of total assets), and 15.8% of the assets are financed with debt.
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Signals
Three 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
2025
not confirmed
2024
29 d late
2023
65 d late
2022
31 d late
2021
11 d early
2020
89 d late
2019
81 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 47 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
€437,174▲ 3.4%
2023 · €422,765
Total assets
€519,115▼ 1.1%
2023 · €524,823
Net result
€14,409
2023 · -€3,392
Working capital
€351,277▼ 3.1%
2023 · €362,405
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
Line20202021202220232024
Operating result€63,379▼ 47.0%€240,052▲ 279%€57,238▼ 76.2%€50,779▼ 11.3%€29,503▼ 41.9%
Net result€48,349above the sector's middle half▼ 55.0%€231,070above the sector's middle half▲ 378%€41,250above the sector's middle half▼ 82.1%-€3,392within the sector's middle half€14,409within the sector's middle half
Equity€148,837above the sector's middle half▲ 48.1%€384,906above the sector's middle half▲ 159%€426,156above the sector's middle half▲ 10.7%€422,765above the sector's middle half▼ 0.8%€437,174above the sector's middle half▲ 3.4%
Total assets€167,922within the sector's middle half▲ 22.6%€496,045above the sector's middle half▲ 195%€646,110above the sector's middle half▲ 30.3%€524,823above the sector's middle half▼ 18.8%€519,115above the sector's middle half▼ 1.1%
Debt€19,085▼ 47.8%€111,139▲ 482%€139,953▲ 25.9%€102,058▼ 27.1%€81,941▼ 19.7%
Working capital€130,723above the sector's middle half▲ 81.8%€343,647above the sector's middle half▲ 163%€444,402above the sector's middle half▲ 29.3%€362,405above the sector's middle half▼ 18.5%€351,277above the sector's middle half▼ 3.1%
Solvency88.6%above the sector's middle half▲ 15.3pp77.6%above the sector's middle half▼ 11.0pp66.0%above the sector's middle half▼ 11.6pp80.6%above the sector's middle half▲ 14.6pp84.2%above the sector's middle half▲ 3.7pp
Current ratio7.85above the sector's middle half▲ 4.795.05above the sector's middle half▼ 2.804.18above the sector's middle half▼ 0.884.55above the sector's middle half▲ 0.385.29above the sector's middle half▲ 0.74
Return on assets (ROA)28.8%above the sector's middle half▼ 49.7pp46.6%above the sector's middle half▲ 17.8pp6.4%within the sector's middle half▼ 40.2pp-0.6%within the sector's middle half▼ 7.0pp2.8%within the sector's middle half▲ 3.4pp
Staff (FTE)6.1above the sector's middle half▼ 18.7%7.4▲ 21.3%8.8▲ 18.9%9.6▲ 9.1%10.8▲ 12.5%
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 has fallen three years in a row; 2024 is 42% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €519,115
Fixed assets
€85,897 ▲ 42.3%
Current assets
€433,218 ▼ 6.7%
Equity and liabilities €519,115
Equity
€437,174 ▲ 3.4%
Debt
€81,941 ▼ 19.7%
Debt's share of the balance-sheet total falls from 19.4% to 15.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,966▼
2023 · €52,173
Cash flow
€18,872▲
2023 · -€1,997
Quick ratio
4.88▲
2023 · 4.34
Debt to equity
0.19▼
2023 · 0.24
ROE
3.3%▲
2023 · -0.8%
Interest coverage
12.15▼
2023 · 23.13
Debt ≤ 1 year
€81,941▼
2023 · €102,058
Income taxes
€12,298▼
2023 · €51,915
Staff costs
€280,914▼
2023 · €291,484
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,045 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.4% 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 6,045 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €108,663 | €274,940 | €291,484 | €280,914 | ▼ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,319 | €19,433 | €5,861 | €1,395 | €4,463 | ▲ 220% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €80,000 | - | - | - |
| Other operating charges640/8 | - | €120 | €5,857 | €2,244 | €2,464 | ▲ 9.8% |
| Gross operating margin9900 | €184,844 | €368,268 | €423,897 | €345,902 | €317,344 | ▼ 8.3% |
| Operating profit (loss)9901 | €63,379 | €240,052 | €57,238 | €50,779 | €29,503 | ▼ 41.9% |
| Recurring financial income75 | €98 | - | - | - | - | - |
| Financial charges65/66B | - | €1,617 | €4,888 | €2,256 | €2,796 | ▲ 23.9% |
| Recurring financial charges65 | €1,902 | €1,617 | €4,888 | €2,256 | €2,796 | ▲ 23.9% |
| Profit (loss) for the period before taxes9903 | €61,574 | €238,435 | €52,350 | €48,523 | €26,708 | ▼ 45.0% |
| Income taxes67/77 | €13,226 | €7,365 | €11,100 | €51,915 | €12,298 | ▼ 76.3% |
| Profit (loss) for the period9904 | €48,349 | €231,070 | €41,250 | -€3,392 | €14,409 | ▲ 525% |
| Profit (loss) for the period to be appropriated9905 | €48,349 | €231,070 | €41,250 | -€3,392 | €14,409 | ▲ 525% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €167,922 | €496,045 | €646,110 | €524,823 | €519,115 | ▼ 1.1% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €18,114 | €67,616 | €61,754 | €60,360 | €85,897 | ▲ 42.3% |
| Tangible fixed assets22/27 | €18,114 | €61,616 | €55,754 | €54,360 | €79,897 | ▲ 47.0% |
| Land and buildings22 | - | €55,064 | €54,000 | €54,000 | €54,000 | = |
| Plant, machinery and equipment23 | - | €4,073 | €960 | €0 | €0 | - |
| Furniture and vehicles24 | - | €2,479 | €794 | €360 | €105 | ▼ 70.9% |
| Leasing and similar rights25 | - | - | - | - | €25,793 | - |
| Financial fixed assets28 | - | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Current assets29/58 | €149,808 | €428,429 | €584,355 | €464,463 | €433,218 | ▼ 6.7% |
| Stocks and contracts in progress3 | €4,650 | €5,575 | €18,517 | €21,643 | €32,984 | ▲ 52.4% |
| Stocks30/36 | - | €5,575 | €18,517 | €21,643 | €32,984 | ▲ 52.4% |
| Amounts receivable within one year40/41 | €9,995 | €15,085 | €89,736 | €4,798 | €45,007 | ▲ 838% |
| Trade receivables40 | - | €13,589 | €25,352 | €4,798 | €21,305 | ▲ 344% |
| Other amounts receivable41 | - | €1,495 | €64,384 | €0 | €23,702 | - |
| Cash at bank and in hand54/58 | €121,114 | €407,770 | €476,103 | €438,021 | €355,227 | ▼ 18.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €167,922 | €496,045 | €646,110 | €524,823 | €519,115 | ▼ 1.1% |
| Equity10/15 | €148,837 | €384,906 | €426,156 | €422,765 | €437,174 | ▲ 3.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | - | €18,600 | - | - | - | - |
| Other1109/19 | - | €18,600 | - | - | - | - |
| Reserves13 | €86,888 | €86,888 | €86,888 | €86,888 | €86,888 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | €45,012 | €45,012 | €45,012 | €45,012 | = |
| Distributable reserves133 | - | €40,016 | €40,016 | €41,876 | €41,876 | = |
| Profit (loss) carried forward14 | €48,349 | €279,418 | €320,668 | €317,277 | €331,686 | ▲ 4.5% |
| Provisions and deferred taxes16 | - | - | €80,000 | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | €80,000 | - | - | - |
| Other liabilities and charges164/5 | - | - | €80,000 | - | - | - |
| Amounts payable17/49 | €19,085 | €111,139 | €139,953 | €102,058 | €81,941 | ▼ 19.7% |
| Amounts payable within one year42/48 | €19,085 | €84,782 | €139,953 | €102,058 | €81,941 | ▼ 19.7% |
| Current portion of amounts payable after more than one year42 | - | €1,289 | €1,268 | €1,288 | €6,404 | ▲ 397% |
| Trade debts44 | €7,732 | €48,771 | €93,147 | €58,022 | €45,745 | ▼ 21.2% |
| Suppliers440/4 | - | €48,771 | €93,147 | €58,022 | €45,745 | ▼ 21.2% |
| Taxes, remuneration and social security45 | - | €34,723 | €45,538 | €40,766 | €29,792 | ▼ 26.9% |
| Taxes450/3 | - | €18,022 | €14,338 | €30,059 | €12,380 | ▼ 58.8% |
| Remuneration and social security454/9 | - | €16,701 | €31,201 | €10,708 | €17,412 | ▲ 62.6% |
| Other amounts payable47/48 | - | - | - | €1,982 | - | - |
| Accrued charges and deferred income492/3 | - | €26,356 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,349 | €231,070 | €41,250 | -€3,392 | €14,409 | ▲ 525% |
| + Depreciation and write-downs630 | €13,319 | €19,433 | €5,861 | €1,395 | €4,463 | ▲ 220% |
| Operating cash flow (approximation) | €61,668 | €250,503 | €47,112 | -€1,997 | €18,872 | ▲ 1,045% |
| Investment in fixed assets (approximation) | - | -€68,935 | €0 | €0 | -€30,000 | - |
| Change in cash | - | €286,656 | €68,333 | -€38,082 | -€82,795 | ▼ 117% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €14,409
Net result €14,409 after one loss-making year.
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
31-12
Financial
Weakest financial yearnet -€3,392
Net result drops to -€3,392, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €231,070 ▲378%
Operating result €240,052, net result €231,070, both a record.
31-12
Financial
Equity above €200,000Eq €384,906 ▲159%
4 profitable years in a row build equity to €384,906.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Liquidity triplescurrent ratio 7.85
Current ratio from 3.06 to 7.85; short-term debt falls from €34,958 to €19,085.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 81 days late
2019
31-12
Financial
Liquidity times 8current ratio 3.06
Current ratio from 0.39 to 3.06; short-term debt falls from €67,772 to €34,958.
Show earlier events
31-12
Financial
Equity above €100,000Eq €100,488
2 profitable years in a row build equity to €100,488.
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 92 days late
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
22-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2009
Ground area
305 m²
Building footprint
213 m²
Volume, LiDAR
1,795 m³
Parcel 44021A0864/00B000, Flanders · tallest building 15.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PIZZA GULHAN
since 20092.176.622.887
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A0864/00B000 | Flanders | 305 m² | 1 · 213 m² | 15.2 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 siteGent2.176.622.887
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Of 21,853 companies in sector 56112 we hold annual accounts for 9,777. 4,792 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
Founded30-01-2009
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0809492714
Also
9925:BE0809492714
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.