IAREK
ActiveSummary
The computed 12-month bankruptcy probability of IAREK is 2.5% (moderate). The 2024 annual accounts show negative equity (-€363,233) and a net result of €33,183. Equity is shrinking by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 11% of 18935 sector peers (fiscal year 2024). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability78▲+15
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.63 against 1.7 in 2023; short-term debt: 36.6% and cash: 24.7% of total assets), but equity is negative.
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Signals
Six 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-93.6%
Return on assets
8.5%
Age of the figures
21 mo
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
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 18935 sector peers (2024).
NBB · sector comparisonPosition among 18935 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-09-2025, 54 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
54 d late
2023
61 d late
2022
66 d late
2021
123 d late
2020
86 d late
2019
68 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 76 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#3 company by total assets in Braine-le-Château, Accommodation and food service sector#9 oldest company in Braine-le-Château, Accommodation and food service sector
Equity
-€363,233▲ 8.4%
2023 · -€396,416
Total assets
€388,163▲ 29.0%
2023 · €300,861
Net result
€33,183
2023 · -€1,161
Working capital
€90,207▲ 39.6%
2023 · €64,633
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 56, Food and beverage service activities, 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
Operating result-€93,425▲ 14.8%-€33,005▲ 64.7%-€41,729▼ 26.4%€3,772€45,335▲ 1,102%
Net result-€94,862below the sector's middle half▲ 14.4%-€32,212below the sector's middle half▲ 66.0%-€43,112below the sector's middle half▼ 33.8%-€1,161within the sector's middle half▲ 97.3%€33,183above the sector's middle half
Equity-€319,931below the sector's middle half▼ 42.1%-€352,143below the sector's middle half▼ 10.1%-€395,255below the sector's middle half▼ 12.2%-€396,416below the sector's middle half▼ 0.3%-€363,233below the sector's middle half▲ 8.4%
Total assets€216,130above the sector's middle half▼ 19.9%€189,599within the sector's middle half▼ 12.3%€238,364above the sector's middle half▲ 25.7%€300,861above the sector's middle half▲ 26.2%€388,163above the sector's middle half▲ 29.0%
Debt€536,061▲ 8.3%€541,742▲ 1.1%€633,619▲ 17.0%€697,277▲ 10.0%€751,396▲ 7.8%
Working capital-€43,591below the sector's middle half-€2,698within the sector's middle half▲ 93.8%€24,161within the sector's middle half€64,633above the sector's middle half▲ 168%€90,207above the sector's middle half▲ 39.6%
Solvency-148.0%below the sector's middle half▼ 64.6pp-185.7%below the sector's middle half▼ 37.7pp-165.8%below the sector's middle half▲ 19.9pp-131.8%below the sector's middle half▲ 34.1pp-93.6%below the sector's middle half▲ 38.2pp
Current ratio0.33below the sector's middle half▼ 0.860.87within the sector's middle half▲ 0.541.41within the sector's middle half▲ 0.541.70within the sector's middle half▲ 0.291.63within the sector's middle half▼ 0.06
Return on assets (ROA)-43.9%below the sector's middle half▼ 2.9pp-17.0%below the sector's middle half▲ 26.9pp-18.1%below the sector's middle half▼ 1.1pp-0.4%within the sector's middle half▲ 17.7pp8.5%within the sector's middle half▲ 8.9pp
Staff (FTE)1.5within the sector's middle half▼ 58.3%1.8▲ 20.0%3.2▲ 77.8%5.6▲ 75.0%6.1▲ 8.9%
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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 1,102% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €388,163
Fixed assets
€155,769 ▲ 8.7%
Current assets
€232,394 ▲ 47.5%
Key figures and ratios
EBITDA
€71,785▲
2023 · €27,070
Cash flow
€59,633▲
2023 · €22,137
Quick ratio
1.62▼
2023 · 1.63
Debt to equity
-2.07▼
2023 · -1.76
Interest coverage
5.89▲
2023 · 5.39
Debt ≤ 1 year
€142,187▲
2023 · €92,908
Debt > 1 year
€604,369=
2023 · €604,369
Staff costs
€204,387▼
2023 · €221,459
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% 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 3,632 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 | - | €27,940 | €105,831 | €221,459 | €204,387 | ▼ 7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,547 | €23,106 | €23,367 | €23,298 | €26,450 | ▲ 13.5% |
| Other operating charges640/8 | - | €11,398 | €4,776 | €5,034 | €14,003 | ▲ 178% |
| Gross operating margin9900 | -€6,134 | €29,439 | €92,245 | €253,563 | €290,175 | ▲ 14.4% |
| Operating profit (loss)9901 | -€93,425 | -€33,005 | -€41,729 | €3,772 | €45,335 | ▲ 1,102% |
| Financial income75/76B | - | €1,942 | - | €86 | €45 | ▼ 48.1% |
| Recurring financial income75 | €10 | €1,942 | - | €86 | €45 | ▼ 48.1% |
| Financial charges65/66B | - | €1,149 | €1,383 | €5,019 | €12,197 | ▲ 143% |
| Recurring financial charges65 | €1,447 | €1,149 | €1,383 | €5,019 | €12,197 | ▲ 143% |
| Profit (loss) for the period before taxes9903 | -€94,862 | -€32,212 | -€43,112 | -€1,161 | €33,183 | ▲ 2,958% |
| Profit (loss) for the period9904 | -€94,862 | -€32,212 | -€43,112 | -€1,161 | €33,183 | ▲ 2,958% |
| Profit (loss) for the period to be appropriated9905 | -€94,862 | -€32,212 | -€43,112 | -€1,161 | €33,183 | ▲ 2,958% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €216,130 | €189,599 | €238,364 | €300,861 | €388,163 | ▲ 29.0% |
| Fixed assets21/28 | €195,068 | €171,963 | €154,953 | €143,320 | €155,769 | ▲ 8.7% |
| Tangible fixed assets22/27 | €156,777 | €133,672 | €116,662 | €105,029 | €117,478 | ▲ 11.9% |
| Plant, machinery and equipment23 | - | €133,440 | €116,547 | €105,029 | €117,478 | ▲ 11.9% |
| Furniture and vehicles24 | - | €231 | €116 | - | - | - |
| Financial fixed assets28 | €38,291 | €38,291 | €38,291 | €38,291 | €38,291 | = |
| Current assets29/58 | €21,061 | €17,636 | €83,411 | €157,541 | €232,394 | ▲ 47.5% |
| Stocks and contracts in progress3 | €1,059 | €9,054 | €10,125 | €5,800 | €2,420 | ▼ 58.3% |
| Stocks30/36 | - | €9,054 | €10,125 | €5,800 | €2,420 | ▼ 58.3% |
| Amounts receivable within one year40/41 | €7,081 | - | €3,611 | €7,618 | €100,352 | ▲ 1,217% |
| Trade receivables40 | - | - | €3,611 | €7,618 | €100,352 | ▲ 1,217% |
| Cash at bank and in hand54/58 | €5,601 | €8,582 | €65,152 | €107,632 | €95,930 | ▼ 10.9% |
| Deferred charges and accrued income490/1 | - | - | €4,523 | €36,492 | €33,692 | ▼ 7.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €216,130 | €189,599 | €238,364 | €300,861 | €388,163 | ▲ 29.0% |
| Equity10/15 | -€319,931 | -€352,143 | -€395,255 | -€396,416 | -€363,233 | ▲ 8.4% |
| 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 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€338,531 | -€370,743 | -€413,855 | -€415,016 | -€381,833 | ▲ 8.0% |
| Amounts payable17/49 | €536,061 | €541,742 | €633,619 | €697,277 | €751,396 | ▲ 7.8% |
| Amounts payable after more than one year17 | €471,408 | €521,408 | €574,369 | €604,369 | €604,369 | = |
| Other amounts payable178/9 | - | €521,408 | €574,369 | €604,369 | €604,369 | = |
| Amounts payable within one year42/48 | €64,653 | €20,334 | €59,250 | €92,908 | €142,187 | ▲ 53.0% |
| Trade debts44 | €55,193 | €10,906 | €27,098 | €73,263 | €70,967 | ▼ 3.1% |
| Suppliers440/4 | - | €10,906 | €27,098 | €73,263 | €70,967 | ▼ 3.1% |
| Taxes, remuneration and social security45 | - | €5,243 | €27,967 | €15,460 | €67,034 | ▲ 334% |
| Taxes450/3 | - | €3,410 | €16,323 | €12,908 | €18,675 | ▲ 44.7% |
| Remuneration and social security454/9 | - | €1,832 | €11,644 | €2,552 | €48,360 | ▲ 1,795% |
| Other amounts payable47/48 | - | €4,185 | €4,185 | €4,185 | €4,185 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €4,841 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€94,862 | -€32,212 | -€43,112 | -€1,161 | €33,183 | ▲ 2,958% |
| + Depreciation and write-downs630 | €23,547 | €23,106 | €23,367 | €23,298 | €26,450 | ▲ 13.5% |
| Operating cash flow (approximation) | -€71,315 | -€9,106 | -€19,745 | €22,137 | €59,633 | ▲ 169% |
| Investment in fixed assets (approximation) | - | €0 | -€6,358 | -€11,664 | -€38,899 | ▼ 233% |
| Change in cash | - | €2,982 | €56,570 | €42,480 | -€11,702 | ▼ 128% |
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
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
2024
31-12
Financial
Back to profitnet €33,183
Net result €33,183 after 6 loss-making years.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 66 days late
2022
01-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 123 days late
2021
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 86 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
2019
31-12
Financial
Weakest financial yearnet -€110,762
Net result drops to -€110,762, the lowest in the series; recovery starts the following year.
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 42 days late
2018
01-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 62 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
Financial 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, Braine-le-Château · 1 establishment unit since 2018
Ground area
1.1 ha
Building footprint
7,731 m²
Volume, LiDAR
277,527 m³
2 parcels, Brussels, Wallonia · tallest building 73.1 m, ±15 floors. Linked by address, not a title deed.
1 establishment unit
Galet The Mint
since 20182.282.848.280
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21802B0487/00H000 | Brussels | 7,877 m² | 1 · 6,512 m² | 73.1 m · 15 fl. |
| 25111A0686/00V000 | Wallonia | 3,316 m² | 1 · 1,219 m² | 7.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 siteBrussel2.282.848.280
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 20,500 companies in sector 56111 we hold annual accounts for 11,464. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-08-2011
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0838308840
Registered
27-03-2026
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.