KAOL
ActiveSummary
KAOL has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €73k and a net result of €484k. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 34% of 3705 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency39▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity short (current ratio 0.6 against 0.52 in 2024; short-term debt: 79% and cash: 41.4% of total assets), and 86% of the assets are financed with debt.
Credit check for your own amount and term
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 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14%
Return on assets
92.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
17 d early
2023
21 d early
2022
30 d late
2021
3 d early
2020
1 d early
2019
14 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€73k▼ 18.4%
2024 · €89k
2018: €45klowest in 8 years
2019: €48k▲ +7.8% vs 2018
2020: €77k▲ +58.5% vs 2019
2021: €100k▲ +30.0% vs 2020
2022: €105k▲ +4.9% vs 2021
2023: €105k▲ +0.2% vs 2022highest in 8 years
2024: €89k▼ -14.6% vs 2023
2025: €73k▼ -18.4% vs 2024
2018 → 2025
Total assets
€523k▼ 2.9%
2024 · €539k
2018: €248k
2019: €144k▼ -41.9% vs 2018lowest in 8 years
2020: €201k▲ +39.5% vs 2019
2021: €350k▲ +74.3% vs 2020
2022: €375k▲ +7.2% vs 2021
2023: €601k▲ +60.2% vs 2022highest in 8 years
2024: €539k▼ -10.4% vs 2023
2025: €523k▼ -2.9% vs 2024
2018 → 2025
Net result
€484k▼ 4.4%
2024 · €506k
2018: €284k
2019: €264k▼ -7.1% vs 2018lowest in 8 years
2020: €323k▲ +22.7% vs 2019
2021: €673k▲ +108% vs 2020highest in 8 years
2022: €467k▼ -30.6% vs 2021
2023: €442k▼ -5.4% vs 2022
2024: €506k▲ +14.5% vs 2023
2025: €484k▼ -4.4% vs 2024
2018 → 2025
Working capital
€-166k▲ 10.8%
2024 · €-186k
2018: €-28k
2019: €-23k▲ +15.0% vs 2018
2020: €3k▲ +114% vs 2019highest in 8 years
2021: €-27k▼ -953% vs 2020
2022: €-180k▼ -555% vs 2021
2023: €-146k▲ +18.7% vs 2022
2024: €-186k▼ -27.1% vs 2023lowest in 8 years
2025: €-166k▲ +10.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€100k-€105k▲ 4.9%€105k▲ 0.2%€89k▼ 14.6%€73k▼ 18.4%
2021: €100k
2022: €105k▲ +4.9% vs 2021
2023: €105k▲ +0.2% vs 2022highest in 5 years
2024: €89k▼ -14.6% vs 2023
2025: €73k▼ -18.4% vs 2024lowest in 5 years
Operating result€676k-€472k▼ 30.2%€454k▼ 3.8%€518k▲ 14.3%€493k▼ 4.9%
2021: €676khighest in 5 years
2022: €472k▼ -30.2% vs 2021
2023: €454k▼ -3.8% vs 2022lowest in 5 years
2024: €518k▲ +14.3% vs 2023
2025: €493k▼ -4.9% vs 2024
Net result€673k-€467k▼ 30.6%€442k▼ 5.4%€506k▲ 14.5%€484k▼ 4.4%
2021: €673khighest in 5 years
2022: €467k▼ -30.6% vs 2021
2023: €442k▼ -5.4% vs 2022lowest in 5 years
2024: €506k▲ +14.5% vs 2023
2025: €484k▼ -4.4% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 5% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €523k
Fixed assets
€276k ▼ 19.1%
Current assets
€247k ▲ 25.0%
Equity and liabilities €523k
Equity
€73k ▼ 18.4%
Debt
€450k ▲ 0.1%
Debt's share of the balance-sheet total rises from 83.4% to 86.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€572k▼
2024 · €597k
Cash flow
€562k▼
2024 · €584k
Current ratio
0.60▲
2024 · 0.52
Quick ratio
0.56▲
2024 · 0.47
Debt to equity
6.17▲
2024 · 5.02
ROE
662.8%▲
2024 · 565.5%
ROA
92.5%▼
2024 · 93.9%
Interest coverage
48.22▲
2024 · 42.83
Debt ≤ 1 year
€413k▲
2024 · €384k
Debt > 1 year
€31k▼
2024 · €60k
Income taxes
€5k▼
2024 · €5k
Staff costs
€526k▲
2024 · €495k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€539k€523k▼
Fixed assets21/28€341k€276k▼
Tangible fixed assets22/27€341k€275k▼
Plant, machinery and equipment23€227k€179k▼
Furniture and vehicles24€48k€37k▼
Other tangible fixed assets26€66k€60k▼
Financial fixed assets28€325€325=
Current assets29/58€198k€247k▲
Stocks and contracts in progress3€16k€14k▼
Stocks30/36€16k€14k▼
Amounts receivable within one year40/41€8k€10k▲
Other amounts receivable41€8k€10k▲
Cash at bank and in hand54/58€170k€216k▲
Deferred charges and accrued income490/1€3k€7k▲
Equity and liabilities
Total equity and liabilities10/49€539k€523k▼
Equity10/15€89k€73k▼
Contributions10/11€19k€19k=
Reserves13€71k€54k▼
Tax-exempt reserves132€6k€6k=
Distributable reserves133€65k€48k▼
Amounts payable17/49€449k€450k▲
Amounts payable after more than one year17€60k€31k▼
Financial debts170/4€60k€31k▼
Amounts payable within one year42/48€384k€413k▲
Current portion of amounts payable after more than one year42€28k€27k▼
Trade debts44€28k€33k▲
Suppliers440/4€28k€33k▲
Taxes, remuneration and social security45€41k€45k▲
Taxes450/3€9k€11k▲
Remuneration and social security454/9€32k€34k▲
Other amounts payable47/48€286k€308k▲
Accrued charges and deferred income492/3€6k€6k=
Income statement
Code20242025
Non-recurring operating income76A-€475
Remuneration, social security and pensions62€495k€526k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€78k€79k▲
Other operating charges640/8€413€7k▲
Gross operating margin9900€1.09M€1.10M▲
Operating profit (loss)9901€518k€493k▼
Financial income75/76B€7k€7k▲
Recurring financial income75€7k€7k▲
Financial charges65/66B€14k€12k▼
Recurring financial charges65€14k€12k▼
Profit (loss) for the period before taxes9903€511k€488k▼
Income taxes67/77€5k€5k▼
Profit (loss) for the period9904€506k€484k▼
Profit (loss) for the period to be appropriated9905€506k€484k▼
Appropriation of the result
Profit (loss) to be appropriated9906€506k€484k▼
Transfer from equity791/2€15k€16k▲
Profit to be distributed694/7€521k€500k▼
Return on contributions (dividend)694€21k€20k▼
Directors or managers695€500k€480k▼
Social balance
Average headcount (FTE)90879.29.8▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €207 | - | €475 | - |
| Remuneration, social security and pensions62 | €360k | €454k | €504k | €495k | €526k | ▲ 6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41k | €47k | €73k | €78k | €79k | ▲ 0.4% |
| Other operating charges640/8 | €703 | €4k | €4k | €413 | €7k | ▲ 1,589% |
| Gross operating margin9900 | €1.08M | €976k | €1.03M | €1.09M | €1.10M | ▲ 1.2% |
| Operating profit (loss)9901 | €676k | €472k | €454k | €518k | €493k | ▼ 4.9% |
| Financial income75/76B | €7k | €7k | €6k | €7k | €7k | ▲ 5.4% |
| Recurring financial income75 | €7k | €7k | €6k | €7k | €7k | ▲ 5.4% |
| Financial charges65/66B | €8k | €10k | €12k | €14k | €12k | ▼ 14.9% |
| Recurring financial charges65 | €8k | €10k | €12k | €14k | €12k | ▼ 14.9% |
| Profit (loss) for the period before taxes9903 | €675k | €469k | €447k | €511k | €488k | ▼ 4.5% |
| Income taxes67/77 | €2k | €2k | €6k | €5k | €5k | ▼ 13.0% |
| Profit (loss) for the period9904 | €673k | €467k | €442k | €506k | €484k | ▼ 4.4% |
| Profit (loss) for the period to be appropriated9905 | €673k | €467k | €442k | €506k | €484k | ▼ 4.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €350k | €375k | €601k | €539k | €523k | ▼ 2.9% |
| Fixed assets21/28 | €170k | €302k | €339k | €341k | €276k | ▼ 19.1% |
| Tangible fixed assets22/27 | €170k | €302k | €338k | €341k | €275k | ▼ 19.1% |
| Plant, machinery and equipment23 | €117k | €213k | €256k | €227k | €179k | ▼ 21.3% |
| Furniture and vehicles24 | €47k | €30k | €26k | €48k | €37k | ▼ 23.2% |
| Other tangible fixed assets26 | €6k | €58k | €56k | €66k | €60k | ▼ 8.6% |
| Financial fixed assets28 | €50 | €50 | €300 | €325 | €325 | = |
| Current assets29/58 | €180k | €74k | €263k | €198k | €247k | ▲ 25.0% |
| Stocks and contracts in progress3 | €12k | €15k | €13k | €16k | €14k | ▼ 9.9% |
| Stocks30/36 | €12k | €15k | €13k | €16k | €14k | ▼ 9.9% |
| Amounts receivable within one year40/41 | €7k | €8k | €11k | €8k | €10k | ▲ 20.0% |
| Trade receivables40 | €574 | - | €2k | - | - | - |
| Other amounts receivable41 | €6k | €8k | €9k | €8k | €10k | ▲ 20.0% |
| Cash at bank and in hand54/58 | €156k | €47k | €235k | €170k | €216k | ▲ 27.1% |
| Deferred charges and accrued income490/1 | €5k | €4k | €4k | €3k | €7k | ▲ 93.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €350k | €375k | €601k | €539k | €523k | ▼ 2.9% |
| Equity10/15 | €100k | €105k | €105k | €89k | €73k | ▼ 18.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €81k | €86k | €86k | €71k | €54k | ▼ 23.3% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Tax-exempt reserves132 | €6k | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | €73k | €78k | €80k | €65k | €48k | ▼ 25.4% |
| Amounts payable17/49 | €251k | €271k | €497k | €449k | €450k | ▲ 0.1% |
| Amounts payable after more than one year17 | €43k | €17k | €88k | €60k | €31k | ▼ 48.0% |
| Financial debts170/4 | €43k | €17k | €88k | €60k | €31k | ▼ 48.0% |
| Amounts payable within one year42/48 | €208k | €254k | €409k | €384k | €413k | ▲ 7.6% |
| Current portion of amounts payable after more than one year42 | €32k | €26k | €38k | €28k | €27k | ▼ 4.0% |
| Trade debts44 | €19k | €99k | €37k | €28k | €33k | ▲ 18.6% |
| Suppliers440/4 | €19k | €99k | €37k | €28k | €33k | ▲ 18.6% |
| Taxes, remuneration and social security45 | €20k | €42k | €44k | €41k | €45k | ▲ 8.0% |
| Taxes450/3 | €15k | €11k | €13k | €9k | €11k | ▲ 21.7% |
| Remuneration and social security454/9 | €5k | €31k | €31k | €32k | €34k | ▲ 4.1% |
| Other amounts payable47/48 | €135k | €87k | €290k | €286k | €308k | ▲ 7.6% |
| Accrued charges and deferred income492/3 | - | - | - | €6k | €6k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €673k | €467k | €442k | €506k | €484k | ▼ 4.4% |
| + Depreciation and write-downs630 | €41k | €47k | €73k | €78k | €79k | ▲ 0.4% |
| Operating cash flow (approximation) | €714k | €514k | €515k | €584k | €562k | ▼ 3.7% |
| Investment in fixed assets (approximation) | - | €-178k | €-111k | €-81k | €-13k | ▲ 83.4% |
| Change in cash | - | €-109k | €188k | €-65k | €46k | ▲ 171% |
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
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Equity above €100kEq €105k ▲4.9%
5 profitable years in a row build equity to €105k.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €673k ▲108%
Operating result €676k, net result €673k, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €264k ▼7.1%
Net result drops to €264k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, De Panne · 1 establishment unit since 2007
Ground area
639 m²
Building footprint
500 m²
Volume, LiDAR
9,607 m³
Parcel 38352E0607/00A000, Flanders · tallest building 29.6 m, ±8 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Mirage
since 20072.162.682.997
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38352E0607/00A000 | Flanders | 639 m² | 1 · 500 m² | 29.6 m · 8 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 siteDe Panne2.162.682.997
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 9,817 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
Founded02-01-2006
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.