ISEF
ActiveSummary
The computed 12-month bankruptcy probability of ISEF is 4.6% (elevated). For ISEF, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€51,027) and a net result of -€16,691. Equity is shrinking by ~54.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 24624 sector peers (fiscal year 2023). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Bankruptcy probability: Elevated
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
4.6%
Elevated
0%0.5%1.5%4%10%≥ 25%
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2023Solvency, return and age of the figures
Solvency
-725%
Return on assets
-237.1%
Age of the figures
33 mo
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
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-09-2024, 60 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
not filed
2023
60 d late
2022
61 d late
2021
30 d late
2020
91 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 67 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 (1)
History
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Financials · fiscal year 2023, micro schema
Equity
-€51,027▼ 48.6%
2022 · -€34,335
Total assets
€7,038▼ 10.7%
2022 · €7,880
Net result
-€16,691▼ 92.0%
2022 · -€8,692
Working capital
-€51,077▼ 48.5%
2022 · -€34,385
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result-€18,115▼ 806%-€8,942▲ 50.6%-€8,020▲ 10.3%-€7,205▲ 10.2%-€15,458▼ 115%
Net result-€19,126▼ 426%-€10,215below the sector's middle half▲ 46.6%-€9,162below the sector's middle half▲ 10.3%-€8,692below the sector's middle half▲ 5.1%-€16,691below the sector's middle half▼ 92.0%
Equity-€6,267-€16,481below the sector's middle half▼ 163%-€25,644below the sector's middle half▼ 55.6%-€34,335below the sector's middle half▼ 33.9%-€51,027below the sector's middle half▼ 48.6%
Total assets€24,021▼ 40.6%€19,085below the sector's middle half▼ 20.5%€7,559below the sector's middle half▼ 60.4%€7,880below the sector's middle half▲ 4.2%€7,038below the sector's middle half▼ 10.7%
Debt€30,288▲ 9.9%€35,566▲ 17.4%€33,203▼ 6.6%€42,215▲ 27.1%€58,065▲ 37.5%
Working capital-€6,637-€16,691below the sector's middle half▼ 152%-€25,694below the sector's middle half▼ 53.9%-€34,385below the sector's middle half▼ 33.8%-€51,077below the sector's middle half▼ 48.5%
Solvency-26.1%▼ 57.9pp-86.4%below the sector's middle half▼ 60.3pp-339.2%below the sector's middle half▼ 252.9pp-435.7%below the sector's middle half▼ 96.5pp-725.0%below the sector's middle half▼ 289.2pp
Current ratio0.78▼ 0.670.53below the sector's middle half▼ 0.250.23below the sector's middle half▼ 0.300.19below the sector's middle half▼ 0.040.12below the sector's middle half▼ 0.07
Return on assets (ROA)-79.6%▼ 70.6pp-53.5%below the sector's middle half▲ 26.1pp-121.2%below the sector's middle half▼ 67.7pp-110.3%below the sector's middle half▲ 10.9pp-237.1%below the sector's middle half▼ 126.8pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €15,458 in 2023 against €7,205 in 2022; the loss grows.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €7,038
Fixed assets
€50 =
Current assets
€6,988 ▼ 10.7%
Key figures and ratios
Quick ratio
0.03▼
2022 · 0.07
Debt to equity
-1.14▲
2022 · -1.23
Debt ≤ 1 year
€58,065▲
2022 · €42,215
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €160 | €160 | €160 | - | - | - |
| Other operating charges640/8 | - | - | €996 | €856 | €1,398 | ▲ 63.4% |
| Gross operating margin9900 | -€17,212 | -€7,423 | -€6,864 | -€6,350 | -€14,060 | ▼ 121% |
| Operating profit (loss)9901 | -€18,115 | -€8,942 | -€8,020 | -€7,205 | -€15,458 | ▼ 115% |
| Financial income75/76B | - | - | €22 | €0 | - | - |
| Recurring financial income75 | - | - | €0 | €0 | - | - |
| Non-recurring financial income76B | - | - | €22 | - | - | - |
| Financial charges65/66B | - | - | €1,164 | €1,487 | €1,233 | ▼ 17.0% |
| Recurring financial charges65 | €1,011 | €1,272 | €1,164 | €1,487 | €1,233 | ▼ 17.0% |
| Profit (loss) for the period before taxes9903 | -€19,126 | -€10,215 | -€9,162 | -€8,692 | -€16,691 | ▼ 92.0% |
| Profit (loss) for the period9904 | -€19,126 | -€10,215 | -€9,162 | -€8,692 | -€16,691 | ▼ 92.0% |
| Profit (loss) for the period to be appropriated9905 | -€19,126 | -€10,215 | -€9,162 | -€8,692 | -€16,691 | ▼ 92.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €24,021 | €19,085 | €7,559 | €7,880 | €7,038 | ▼ 10.7% |
| Fixed assets21/28 | €370 | €210 | €50 | €50 | €50 | = |
| Tangible fixed assets22/27 | €320 | €160 | - | - | - | - |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €23,651 | €18,875 | €7,509 | €7,830 | €6,988 | ▼ 10.7% |
| Stocks and contracts in progress3 | €19,285 | €14,236 | €5,284 | €5,057 | €5,057 | = |
| Stocks30/36 | - | - | €5,284 | €5,057 | €5,057 | = |
| Amounts receivable within one year40/41 | €3,197 | €3,946 | €550 | €731 | €623 | ▼ 14.8% |
| Other amounts receivable41 | - | - | €550 | €731 | €623 | ▼ 14.8% |
| Cash at bank and in hand54/58 | €1,081 | €586 | €1,675 | €1,934 | €1,228 | ▼ 36.5% |
| Deferred charges and accrued income490/1 | - | - | - | €108 | €81 | ▼ 25.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €24,021 | €19,085 | €7,559 | €7,880 | €7,038 | ▼ 10.7% |
| Equity10/15 | -€6,267 | -€16,481 | -€25,644 | -€34,335 | -€51,027 | ▼ 48.6% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€20,527 | -€30,741 | -€39,904 | -€48,595 | -€65,287 | ▼ 34.3% |
| Amounts payable17/49 | €30,288 | €35,566 | €33,203 | €42,215 | €58,065 | ▲ 37.5% |
| Amounts payable within one year42/48 | €30,288 | €35,566 | €33,203 | €42,215 | €58,065 | ▲ 37.5% |
| Financial debts43 | - | - | €87 | - | €1,991 | - |
| Credit institutions430/8 | - | - | €87 | - | €1,991 | - |
| Trade debts44 | €585 | €1,022 | €1,842 | €15,444 | €14,100 | ▼ 8.7% |
| Suppliers440/4 | - | - | €1,842 | €15,444 | €14,100 | ▼ 8.7% |
| Taxes, remuneration and social security45 | - | - | €1,236 | - | €4,489 | - |
| Taxes450/3 | - | - | €1,236 | - | €1,192 | - |
| Remuneration and social security454/9 | - | - | - | - | €3,297 | - |
| Other amounts payable47/48 | - | - | €30,038 | €26,771 | €37,485 | ▲ 40.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,126 | -€10,215 | -€9,162 | -€8,692 | -€16,691 | ▼ 92.0% |
| + Depreciation and write-downs630 | €160 | €160 | €160 | - | - | - |
| Operating cash flow (approximation) | -€18,966 | -€10,055 | -€9,002 | -€8,692 | -€16,691 | ▼ 92.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€495 | €1,089 | €259 | -€706 | ▼ 373% |
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
2024
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 60 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet -€19,126
Net result drops to -€19,126, the lowest in the series; recovery starts the following year.
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 8 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
2015
27-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Schaarbeek · 1 establishment unit since 2011
Ground area
96 m²
Building footprint
85 m²
Volume, LiDAR
1,421 m³
Parcel 21906D0125/00F004, Brussels · tallest building 20.3 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Wijnheuvelenstraat 166, 1030 Schaarbeek
since 20112.202.985.311
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21906D0125/00F004 | Brussels | 96 m² | 1 · 85 m² | 20.3 m · 6 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 siteSchaarbeek2.202.985.311
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,853. 3,726 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
Founded09-08-2011
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0838439591
Also
9925:BE0838439591
Registered
06-01-2026
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.