Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
The accounts state no turnover.
Of this, €490,993 falls due within a year.
The 2023 accounts came latest: 19 days after the end of the period.
Lower net result than 95% of companies in food products. Sector median €8,168 · 1,919 companies.
The dashed line is the sector median: 1.1% across 3,080 companies (NACE 10, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 10, micro). It does better than 6% of them on solvency, 11% on liquidity, 13% on profitability and 9% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 6,907 companies had the same profile as JITSK has now. Each dot stands for 18 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of JITSK itself: 3.2% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,907 companies, not a prediction for JITSK. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.17 (0.31 in 2024), below 1. Short-term debt is 64.7% and cash 1% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 4 days after the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| JITSK Antwerp | €0.8m | €242,089 | -33.9% | - |
| CHOCOLATERIE MOLITOR Wavre | €0.8m | €212,220 | 19.2% | - |
| Chocolao Anderlecht | €0.8m | €288,915 | 63.7% | 1.6 |
| HAUSER OF BELGIUM Antwerp | €1.1m | €374,789 | 17.5% | 5.5 |
| CHOCOLATERIE PUUR Geel | €0.9m | €309,787 | 24.8% | 3.4 |
| LUCARDI Kortrijk | €1.0m | €304,838 | 26.7% | - |
| La Vie en Chocolat Heuvelland | €1.1m | €268,180 | 29.4% | 2.3 |
These companies have the same main activity as JITSK: manufacture of cocoa, chocolate and sugar confectionery (NACE 10820). They are comparable in size and age: total assets between €760,000 and €1.1m, founded between 2012 and 2016.
JITSK files the micro format. That format states no turnover. The gross margin rose from €84,189 in 2016 to €242,089 in 2025.
The balance sheet grew most from 2021 to 2022 through fixed assets, financed with long-term debt.
Timut holds all the shares. In April 2024, three directors stepped down. In April 2022, the Official Gazette published the appointment of Jitsk Heyninck as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €600,000. Estimated: probably between €400,000 and €940,000.
Higher than 12% of 1,917 companies in 2025.
Higher than 5% of 1,861 companies in 2025.
Higher than 14% of 1,877 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
759,302 | 866,363 | 898,260 | 1.0m | 331,274 | 322,997 | 369,500 | 304,088 | 332,790 | 327,441 | |
20 |
- | - | - | - | - | - | - | - | 407 | 1,105 | |
21/28 |
674,093 | 732,570 | 804,677 | 800,440 | 219,254 | 198,342 | 228,300 | 200,036 | 224,699 | 241,439 | |
22/27 |
674,093 | 732,570 | 804,677 | 800,440 | 219,254 | 198,342 | 228,300 | 200,036 | 224,699 | 240,334 | |
22 |
507,226 | 538,862 | 572,610 | 597,374 | 29,533 | - | - | 581 | - | - | |
23 |
160,521 | 193,708 | 231,515 | 199,301 | 180,946 | 196,030 | 227,897 | 198,251 | 222,843 | 237,875 | |
24 |
- | - | 552 | 3,766 | 8,774 | 2,311 | 403 | 1,203 | 1,856 | 2,459 | |
26 |
6,346 | - | - | - | - | - | - | - | - | - | |
29/58 |
85,210 | 133,792 | 93,582 | 231,960 | 112,021 | 124,655 | 141,200 | 104,052 | 107,684 | 86,002 | |
3 |
50,958 | 105,399 | 53,277 | 49,388 | 28,330 | 29,780 | 29,780 | 23,358 | 23,358 | 23,358 | |
30/36 |
50,958 | 105,399 | 53,277 | 49,388 | 28,330 | 29,780 | 29,780 | 23,358 | 23,358 | 23,358 | |
40/41 |
26,662 | 14,305 | 28,835 | 69,443 | 59,888 | 51,709 | 93,879 | 63,410 | 64,263 | 50,315 | |
40 |
- | - | 11,565 | 49,930 | 54,714 | 46,156 | 93,879 | 62,351 | 64,263 | 50,046 | |
41 |
26,662 | 14,305 | 17,270 | 19,513 | 5,174 | 5,554 | - | 1,059 | - | 269 | |
54/58 |
7,591 | 14,089 | 11,470 | 111,124 | 23,803 | 21,790 | 16,521 | 16,266 | 11,689 | 11,850 | |
490/1 |
- | - | - | 2,005 | - | 21,376 | 1,019 | 1,019 | 8,373 | 479 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
759,302 | 866,363 | 898,260 | 1.0m | 331,274 | 322,997 | 369,500 | 304,088 | 332,790 | 327,441 | |
10/15 |
-257,333 | -154,474 | -22,704 | 102,604 | 114,835 | 103,443 | 86,309 | 64,495 | 42,956 | 36,425 | |
10/11 |
85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | |
10 |
85,000 | 85,000 | 85,000 | 85,000 | - | - | - | - | - | - | |
100 |
85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | 85,000 | |
13 |
8,500 | 8,500 | 8,500 | 8,500 | 8,500 | - | - | - | - | - | |
130/1 |
8,500 | 8,500 | 8,500 | 8,500 | 8,500 | - | - | - | - | - | |
130 |
8,500 | 8,500 | 8,500 | 8,500 | 8,500 | - | - | - | - | - | |
14 |
-350,833 | -247,974 | -116,204 | 9,104 | 21,335 | 18,443 | 1,309 | -20,505 | -42,044 | -48,575 | |
17/49 |
1.0m | 1.0m | 920,963 | 929,797 | 216,439 | 219,554 | 283,192 | 239,593 | 289,834 | 291,016 | |
17 |
525,643 | 584,656 | 755,821 | 775,460 | 110,458 | 167,035 | 173,035 | 140,961 | 164,329 | 186,448 | |
170/4 |
525,643 | 584,656 | 755,821 | 775,460 | 110,458 | 167,035 | 173,035 | 140,961 | 164,329 | 186,448 | |
42/48 |
490,993 | 436,180 | 165,143 | 153,077 | 104,721 | 52,518 | 97,729 | 94,879 | 121,752 | 103,766 | |
42 |
76,373 | 75,909 | 47,285 | 66,535 | 41,983 | - | 23,110 | 33,910 | 27,118 | 29,740 | |
43 |
20,000 | 57,057 | 30,000 | - | 10,000 | 15,000 | 45,000 | 30,000 | 42,000 | 43,000 | |
430/8 |
20,000 | 57,057 | 30,000 | - | 10,000 | 15,000 | 45,000 | 30,000 | 42,000 | 43,000 | |
44 |
111,382 | 131,132 | 87,858 | 86,542 | 40,173 | 23,118 | 24,548 | 23,821 | 41,788 | 28,744 | |
440/4 |
111,382 | 131,132 | 87,858 | 86,542 | 40,173 | 23,118 | 24,548 | 23,821 | 41,788 | 28,744 | |
45 |
7,880 | 82 | - | - | 12,566 | 14,400 | 5,072 | 7,149 | 10,846 | 2,281 | |
450/3 |
162 | 82 | - | - | 2,937 | 3,572 | 574 | - | 753 | 2,281 | |
454/9 |
7,719 | - | - | - | 9,629 | 10,828 | 4,497 | 7,149 | 10,092 | - | |
47/48 |
275,356 | 172,000 | - | - | - | - | - | - | - | - | |
492/3 |
- | - | - | 1,260 | 1,260 | - | 12,427 | 3,752 | 3,752 | 802 | |
| Income statement | |||||||||||
9900 |
242,089 | 194,372 | 234,748 | 219,214 | 193,667 | 178,611 | 173,766 | 162,782 | 143,692 | 84,189 | |
62 |
244,672 | 192,865 | 208,702 | 156,149 | 135,275 | 110,145 | 99,442 | 99,103 | 93,379 | 74,031 | |
630 |
65,089 | 72,135 | 70,302 | 48,417 | 34,582 | 36,742 | 41,577 | 33,764 | 32,817 | 41,561 | |
640/8 |
4,239 | 15,137 | 47,021 | 12,355 | 2,569 | 2,163 | 3,130 | 1,355 | 1,447 | 449 | |
66A |
- | - | - | - | - | - | - | - | - | 5,874 | |
9901 |
-71,911 | -85,765 | -91,278 | 2,294 | 21,241 | 29,561 | 29,616 | 28,560 | 16,049 | -31,852 | |
75/76B |
3,197 | 2,526 | 839 | 50 | 32 | 1 | 18 | 6 | 86 | 146 | |
75 |
3,197 | 2,526 | 839 | 50 | 32 | 1 | 18 | 6 | 86 | 146 | |
65/66B |
33,870 | 48,399 | 34,869 | 14,516 | 6,761 | 9,400 | 7,494 | 6,740 | 9,575 | 10,995 | |
65 |
33,870 | 48,399 | 34,869 | 14,516 | 6,761 | 9,400 | 7,494 | 6,740 | 9,575 | 10,995 | |
9903 |
-102,584 | -131,638 | -125,308 | -12,172 | 14,512 | 20,162 | 22,141 | 21,826 | 6,561 | -48,575 | |
67/77 |
276 | 131 | - | 59 | 3,120 | 3,027 | 327 | 287 | 30 | - | |
9904 |
-102,859 | -131,770 | -125,308 | -12,231 | 11,392 | 17,135 | 21,814 | 21,539 | 6,531 | -48,575 | |
9905 |
-102,859 | -131,770 | -125,308 | -12,231 | 11,392 | 17,135 | 21,814 | 21,539 | 6,531 | -48,575 | |
| Appropriation of the result | |||||||||||
9906 |
-350,833 | -247,974 | -116,204 | 9,104 | 29,835 | 18,443 | 1,309 | -20,505 | -42,044 | -48,575 | |
14P |
-247,974 | -116,204 | 9,104 | 21,335 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | 8,500 | - | - | - | - | - | |
6920 |
- | - | - | - | 8,500 | - | - | - | - | - | |
| Social balance sheet | |||||||||||
9087 |
5.9 | 4.7 | 4.1 | 4.2 | 2.9 | 3.1 | 2.5 | 2.9 | 2.5 | 1.9 | |
Hours worked1013 |
8,074 | 7,639 | 7,266 | 7,513 | 5,252 | 4,233 | 4,180 | 5,015 | 4,430 | 3,359 | |
| Document | |||||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 31-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 31-01-2026 | 2026-00024504 | |
| 30-06-2024 | micro format | 05-02-2025 | 2025-00028300 | |
| 30-06-2023 | abbreviated format | 19-02-2024 | 2024-00031423 | |
| 30-06-2022 | abbreviated format | 31-01-2023 | 2023-00016923 | |
| 30-06-2021 | abbreviated format | 07-02-2022 | 2022-04900407 | |
| 30-06-2020 | abbreviated format | 02-02-2021 | 2021-04600073 | |
| 30-06-2019 | abbreviated format | 29-01-2020 | 2020-02500137 | |
| 30-06-2018 | abbreviated format | 31-01-2019 | 2019-03200031 | |
| 30-06-2017 | micro format | 28-01-2018 | 2018-02400398 | |
| 30-06-2016 | abbreviated format | 13-02-2017 | 2017-04200579 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €2,320 | €2,320 |
| 2023 | 1 | €2,153 | €3,683 |
| 2022 | 3 | €7,790 | €6,260 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -6,822 | -13,630 | -20,975 | 50,710 | 55,823 | 66,303 | 71,194 | 62,324 | 48,866 | 9,709 | ||
| -37,770 | -59,635 | -55,006 | 36,185 | 45,974 | 53,876 | 63,391 | 55,302 | 39,348 | -7,014 | ||
| 6,444 | 27 | 73,255 | 629,603 | 55,494 | 6,783 | 69,842 | 8,693 | 16,484 | 280,905 | ||
| -6,498 | 2,618 | -99,654 | 87,321 | 2,013 | 5,269 | 255 | 4,577 | -160 | - | ||
| -405,783 | -302,388 | -71,561 | 78,884 | 7,299 | 72,137 | 43,471 | 9,173 | -14,068 | -17,764 | ||
| -33.9% | -17.8% | -2.5% | 9.9% | 34.7% | 32.0% | 23.4% | 21.2% | 12.9% | 11.1% | ||
| 0.17 | 0.31 | 0.57 | 1.52 | 1.07 | 2.37 | 1.44 | 1.10 | 0.88 | 0.83 | ||
| 0.07 | 0.07 | 0.24 | 1.19 | 0.80 | 1.81 | 1.14 | 0.85 | 0.69 | 0.60 | ||
| - | - | - | 9.06 | 1.88 | 2.12 | 3.28 | 3.71 | 6.75 | 7.99 | ||
| - | - | - | -11.9% | 9.9% | 16.6% | 25.3% | 33.4% | 15.2% | -133.4% | ||
| -13.5% | -15.2% | -14.0% | -1.2% | 3.4% | 5.3% | 5.9% | 7.1% | 2.0% | -14.8% | ||
| -0.20 | -0.28 | -0.60 | 3.49 | - | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 7 | 4 | 4 | 5 |
| full-time | 6 | 2 | 1 | 3 |
| part-time | 1 | 2 | 3 | 2 |
| in full-time equivalents | 6.8 | 3.7 | 3.2 | 4.1 |
| 5.9 | 4.7 | 4.1 | 4.2 | |
| On a permanent contract | 7 | 4 | 4 | 4 |
| Joined | - | 186 | 120 | 24 |
| Left | - | 186 | 121 | 23 |
| Training hours | - | 1,260 | 4 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €6,444 | - | €73,255 | €629,603 |
| €65,089 | €72,135 | €70,302 | €48,417 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €71,911, smaller than the loss of €85,765 in 2024.
Equity is negative. Debt (€1.0m) exceeds the balance-sheet total (€759,302).
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of Timut. Every holding stands with its own latest accounts.
| KAASAFFINEURS VAN TRICHT
establishment since 01-09-2022 · founded in 2012 |
17 FTE (2025) 0845.246.122 |
| BUTCHER’S STORE
establishment since 01-01-2016 · founded in 2015 |
6.8 FTE (2025) 0644.633.393 |
| Kenney Van Hoorick
registered office since 28-04-2016 · founded in 2016 |
total assets €581,644 (2025) 0652.927.388 |
| The Butcher's son
registered office since 09-10-2015 · founded in 2015 |
total assets €317,716 (2025) 0640.788.928 |
| Repasse
establishment since 08-03-2022 · founded in 2022 |
total assets €297,922 (2025) 0782.975.585 |
| 1833 Venue
registered office since 01-11-2020 · founded in 2009 |
total assets €158,508 (2025) 0818.920.718 |
| Shinshu-Sake
establishment since 03-09-2026 |
founded in 2026 1039.108.243 |
| REYNAERS ALUMINIUM via VARES, at JITSK until 2024 · Director · deed of 30-07-2025 founded in 1989 |
528 FTE (2025) |
| Whitewood Operations via TULING, at JITSK until 2025 · Director · deed of 15-06-2022 founded in 2011 |
9.2 FTE (2025) |
| OPTION via VARES, at JITSK until 2024 · Independent director · deed of 21-06-2021 founded in 1986 |
16 FTE (2025) |
| Massepain Sleeubus via TULING (at JITSK until 2025), Timut (no longer at Massepain Sleeubus) and PeARL Consulting bvba (at JITSK until 2025) · deed of 10-04-2024 founded in 1959 |
8.8 FTE (2025) |
| DEVILISH via TULING (at JITSK until 2025) and PeARL Consulting bvba (at JITSK until 2025) · deed of 06-09-2018 founded in 2018 |
total assets €2.9m (2025) |
| QUINCALUX via VARES, at JITSK until 2024 · Managing director · deed of 24-05-2024 founded in 1953 |
14 FTE (2025) |
| RODESCO via VARES, at JITSK until 2024 · Director · deed of 07-05-2024 founded in 1991 |
total assets €882,948 (2026) |
| Heldin via TULING, at JITSK until 2025 · Director · deed of 02-06-2021 founded in 2021 |
total assets €383,505 (2025) |
| SOUPFLEUR via TULING, at JITSK until 2025 · Director · deed of 08-06-2021 No longer active |
total assets €9,603 (2025) |
Deadline for the 2026 accounts: 31-01-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Boomgaardstraat 1 registered office 2018 Antwerp | 25-02-2015 | 2.239.656.358 | Chocolate maker, confectioner |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11806F1351/00S000 | 3,616 m² | 1 · 1,277 m² | 20.8 m · 3 |
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