HAYASTAN
ActiveSummary
HAYASTAN has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €279,681 and a net result of €8,458. Equity is growing by ~13.7% per year across the filed fiscal years. Its solvency ranks better than 36% of 6545 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability59▼-15
Solvency47=
Growth66▲+7
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.23 in 2023; short-term debt: 59.8% and cash: 10.3% of total assets), and 78.2% of the assets are financed with debt.
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Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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 20-10-2025, 81 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
81 d late
2023
65 d late
2022
31 d late
2021
193 d late
2020
60 d late
2019
48 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 80 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€2.8m▲ 32.4%
2022 · €2.1m
EBIT margin
1.4%▲ 2.9pp
2022 · -1.4%
Net result
€8,458▼ 83.6%
2023 · €51,727
Working capital
€134,112▼ 9.1%
2023 · €147,536
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€3.3m▲ 27.0%€2.6m▼ 19.7%€2.1m▼ 19.4%€2.8m
Operating result€134,661▲ 238%€95,791▼ 28.9%-€30,301€89,434€40,297▼ 54.9%
Net result€91,099within the sector's middle half▲ 1,644%€61,002within the sector's middle half▼ 33.0%-€43,988below the sector's middle half€51,727within the sector's middle half€8,458within the sector's middle half▼ 83.6%
EBIT margin4.1%▲ 2.6pp3.6%▼ 0.5pp-1.4%▼ 5.1pp1.4%
Equity€202,483within the sector's middle half▲ 81.8%€263,485within the sector's middle half▲ 30.1%€219,496within the sector's middle half▼ 16.7%€271,223within the sector's middle half▲ 23.6%€279,681within the sector's middle half▲ 3.1%
Total assets€907,312within the sector's middle half▲ 81.8%€1.1mwithin the sector's middle half▲ 25.1%€1.0mwithin the sector's middle half▼ 10.7%€1.2mwithin the sector's middle half▲ 20.9%€1.3mwithin the sector's middle half▲ 4.7%
Debt€704,829▲ 81.8%€871,110▲ 23.6%€793,545▼ 8.9%€953,676▲ 20.2%€1.0m▲ 5.2%
Working capital€203,611within the sector's middle half▲ 744%€176,527within the sector's middle half▼ 13.3%€182,156within the sector's middle half▲ 3.2%€147,536within the sector's middle half▼ 19.0%€134,112within the sector's middle half▼ 9.1%
Solvency22.3%within the sector's middle half=23.2%within the sector's middle half▲ 0.9pp21.7%within the sector's middle half▼ 1.6pp22.1%within the sector's middle half▲ 0.5pp21.8%within the sector's middle half▼ 0.3pp
Current ratio1.40within the sector's middle half▲ 0.321.34within the sector's middle half▼ 0.061.41within the sector's middle half▲ 0.071.23within the sector's middle half▼ 0.181.17within the sector's middle half▼ 0.06
Return on assets (ROA)10.0%within the sector's middle half▲ 9.0pp5.4%within the sector's middle half▼ 4.7pp-4.3%below the sector's middle half▼ 9.7pp4.2%within the sector's middle half▲ 8.6pp0.7%within the sector's middle half▼ 3.6pp
Staff (FTE)2.8within the sector's middle half▲ 40.0%4.2within the sector's middle half▲ 50.0%4within the sector's middle half▼ 4.8%3within the sector's middle half▼ 25.0%3within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 55% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.3m
Fixed assets
€381,354 ▼ 13.8%
Current assets
€901,176 ▲ 15.1%
Equity and liabilities €1.3m
Equity
€279,681 ▲ 3.1%
Debt
€1.0m ▲ 5.2%
Debt's share of the balance-sheet total rises from 77.9% to 78.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€125,235▼
2023 · €165,823
Cash flow
€93,396▼
2023 · €128,116
Quick ratio
0.54▼
2023 · 0.63
Debt to equity
3.59▲
2023 · 3.52
ROE
3.0%▼
2023 · 19.1%
Interest coverage
7.90▼
2023 · 8.96
Debt ≤ 1 year
€767,064▲
2023 · €635,103
Debt > 1 year
€235,785▼
2023 · €318,572
Income taxes
€15,979▼
2023 · €19,269
Staff costs
€70,794▼
2023 · €71,552
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,984 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.3%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,984 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €3.3m | €2.6m | €2.1m | - | €2.8m | - |
| Non-recurring operating income76A | - | - | - | €26,431 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €2.3m | €2.0m | - | €2.6m | - |
| Remuneration, social security and pensions62 | - | €116,590 | €93,503 | €71,552 | €70,794 | ▼ 1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,384 | €61,529 | €70,341 | €76,389 | €84,939 | ▲ 11.2% |
| Other operating charges640/8 | - | €24,785 | €22,361 | €25,767 | €19,167 | ▼ 25.6% |
| Non-recurring operating charges66A | - | €12,593 | €923 | - | - | - |
| Gross operating margin9900 | €301,913 | €311,288 | €156,827 | €263,142 | €215,197 | ▼ 18.2% |
| Operating profit (loss)9901 | €134,661 | €95,791 | -€30,301 | €89,434 | €40,297 | ▼ 54.9% |
| Financial income75/76B | - | €2,404 | €2,077 | €67 | €2 | ▼ 96.7% |
| Recurring financial income75 | €1,894 | €2,404 | €2,077 | €67 | €2 | ▼ 96.7% |
| Financial charges65/66B | - | €10,909 | €20,977 | €18,506 | €15,862 | ▼ 14.3% |
| Recurring financial charges65 | €9,307 | €10,909 | €20,977 | €18,506 | €15,862 | ▼ 14.3% |
| Profit (loss) for the period before taxes9903 | €127,248 | €87,287 | -€49,200 | €70,995 | €24,437 | ▼ 65.6% |
| Income taxes67/77 | €36,149 | €26,285 | -€5,212 | €19,269 | €15,979 | ▼ 17.1% |
| Profit (loss) for the period9904 | €91,099 | €61,002 | -€43,988 | €51,727 | €8,458 | ▼ 83.6% |
| Profit (loss) for the period to be appropriated9905 | €91,099 | €61,002 | -€43,988 | €51,727 | €8,458 | ▼ 83.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €907,312 | €1.1m | €1.0m | €1.2m | €1.3m | ▲ 4.7% |
| Fixed assets21/28 | €192,746 | €439,774 | €390,157 | €442,259 | €381,354 | ▼ 13.8% |
| Intangible fixed assets21 | €205 | €1,761 | €1,320 | €880 | €440 | ▼ 50.0% |
| Tangible fixed assets22/27 | €190,872 | €436,345 | €387,168 | €439,711 | €379,245 | ▼ 13.8% |
| Plant, machinery and equipment23 | - | €10,574 | €8,739 | €6,905 | €11,138 | ▲ 61.3% |
| Furniture and vehicles24 | - | €60,699 | €60,062 | €143,424 | €117,750 | ▼ 17.9% |
| Other tangible fixed assets26 | - | €365,072 | €318,367 | €289,382 | €250,357 | ▼ 13.5% |
| Financial fixed assets28 | €1,669 | €1,669 | €1,669 | €1,669 | €1,669 | = |
| Current assets29/58 | €714,566 | €694,820 | €622,885 | €782,639 | €901,176 | ▲ 15.1% |
| Stocks and contracts in progress3 | €43,724 | €46,478 | €186,543 | €383,564 | €489,843 | ▲ 27.7% |
| Stocks30/36 | - | €46,478 | €186,543 | €383,564 | €489,843 | ▲ 27.7% |
| Amounts receivable within one year40/41 | €351,808 | €344,481 | €320,266 | €313,104 | €278,867 | ▼ 10.9% |
| Trade receivables40 | - | €254,769 | €193,980 | €225,713 | €170,958 | ▼ 24.3% |
| Other amounts receivable41 | - | €89,712 | €126,286 | €87,391 | €107,909 | ▲ 23.5% |
| Cash at bank and in hand54/58 | €318,468 | €303,616 | €115,234 | €79,925 | €132,282 | ▲ 65.5% |
| Deferred charges and accrued income490/1 | - | €245 | €841 | €6,047 | €183 | ▼ 97.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €907,312 | €1.1m | €1.0m | €1.2m | €1.3m | ▲ 4.7% |
| Equity10/15 | €202,483 | €263,485 | €219,496 | €271,223 | €279,681 | ▲ 3.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Outside capital11 | - | - | - | €18,600 | - | - |
| Other1109/19 | - | - | - | €18,600 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €182,023 | €243,025 | €199,036 | €250,763 | €259,221 | ▲ 3.4% |
| Amounts payable17/49 | €704,829 | €871,110 | €793,545 | €953,676 | €1.0m | ▲ 5.2% |
| Amounts payable after more than one year17 | €193,874 | €352,817 | €352,817 | €318,572 | €235,785 | ▼ 26.0% |
| Financial debts170/4 | - | €352,817 | €352,817 | €318,572 | €235,785 | ▼ 26.0% |
| Amounts payable within one year42/48 | €510,955 | €518,293 | €440,728 | €635,103 | €767,064 | ▲ 20.8% |
| Current portion of amounts payable after more than one year42 | - | €76,057 | - | €87,688 | €82,787 | ▼ 5.6% |
| Trade debts44 | €297,921 | €322,080 | €301,483 | €412,002 | €563,770 | ▲ 36.8% |
| Suppliers440/4 | - | €322,080 | €301,483 | €412,002 | €563,770 | ▲ 36.8% |
| Advances received on contracts in progress46 | - | €16,017 | €16,017 | €16,017 | - | - |
| Taxes, remuneration and social security45 | - | €96,216 | €55,305 | €62,156 | €85,745 | ▲ 38.0% |
| Taxes450/3 | - | €62,090 | €39,732 | €1,045 | €4,633 | ▲ 343% |
| Remuneration and social security454/9 | - | €34,126 | €15,573 | €61,111 | €81,112 | ▲ 32.7% |
| Other amounts payable47/48 | - | €7,924 | €67,924 | €57,240 | €34,762 | ▼ 39.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €91,099 | €61,002 | -€43,988 | €51,727 | €8,458 | ▼ 83.6% |
| + Depreciation and write-downs630 | €49,384 | €61,529 | €70,341 | €76,389 | €84,939 | ▲ 11.2% |
| Operating cash flow (approximation) | €140,483 | €122,531 | €26,352 | €128,116 | €93,396 | ▼ 27.1% |
| Investment in fixed assets (approximation) | - | -€308,558 | -€20,723 | -€128,492 | -€24,033 | ▲ 81.3% |
| Change in cash | - | -€14,851 | -€188,382 | -€35,310 | €52,357 | ▲ 248% |
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
20-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 81 days late
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 65 days late
2023
31-12
Financial
Back to profitnet €51,727
Net result €51,727 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
09-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 193 days late
2022
31-12
Financial
Weakest financial yearnet -€43,988
Net result drops to -€43,988, the lowest in the series; recovery starts the following year.
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 60 days late
2020
31-12
Financial
Highest result since 2018net €91,099 ▲1,644%
Operating result €134,661, net result €91,099, both a record.
31-12
Financial
Equity above €200,000Eq €202,483 ▲81.8%
3 profitable years in a row build equity to €202,483.
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 48 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Jette · 1 establishment unit since 2014
Ground area
1,460 m²
Building footprint
770 m²
Volume, LiDAR
3,066 m³
Parcel 21463D0283/00S054, Brussels · tallest building 6.8 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Leopold I straat 459-461, 1090 Jette
since 20142.234.182.588
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21463D0283/00S054 | Brussels | 1,460 m² | 1 · 770 m² | 6.8 m · 1 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 siteJette2.234.182.588
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Of 10,504 companies in sector 47110 we hold annual accounts for 5,849. 3,876 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
Founded29-01-2002
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
61100Wired, wireless and satellite telecommunications
E-invoicing
Reachable via Peppol
Peppol ID
0208:0476773608
Registered
10-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.