KAROJA
ActiveSummary
The computed 12-month bankruptcy probability of KAROJA is 1.6% (moderate). The 2025 annual accounts show equity of €318,633 and a net result of -€71,837. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 63% of 3770 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability28▼-47
Solvency67▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity tight (current ratio 1.22 against 1.42 in 2024; short-term debt: 25.6% and cash: 11.1% of total assets), and 57.8% of the assets are financed with debt.
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Signals
Three 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
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
14 d early
2023
23 d early
2022
6 d early
2021
78 d late
2020
374 d late
2019
153 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 79 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 (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. Usually files around 23 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, abbreviated schema
Equity
€318,633▼ 18.4%
2024 · €390,471
Total assets
€754,672▼ 12.3%
2024 · €860,073
Net result
-€71,837
2024 · €45,878
Working capital
€41,734▼ 43.6%
2024 · €73,976
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€146,679▲ 40.1%€17,471▼ 88.1%-€36,458€74,924-€30,565
Net result€89,854within the sector's middle half▲ 25.3%€2,420within the sector's middle half▼ 97.3%-€64,678below the sector's middle half€45,878within the sector's middle half-€71,837below the sector's middle half
Equity€406,851above the sector's middle half▲ 28.3%€409,271above the sector's middle half▲ 0.6%€344,593above the sector's middle half▼ 15.8%€390,471above the sector's middle half▲ 13.3%€318,633above the sector's middle half▼ 18.4%
Total assets€744,475within the sector's middle half▼ 58.5%€1.0mabove the sector's middle half▲ 35.7%€873,029within the sector's middle half▼ 13.6%€860,073within the sector's middle half▼ 1.5%€754,672within the sector's middle half▼ 12.3%
Debt€337,624▼ 77.2%€601,048▲ 78.0%€528,436▼ 12.1%€469,602▼ 11.1%€436,039▼ 7.1%
Working capital€53,194within the sector's middle half▼ 80.4%-€23,922within the sector's middle half-€1,955within the sector's middle half▲ 91.8%€73,976within the sector's middle half€41,734within the sector's middle half▼ 43.6%
Solvency54.6%above the sector's middle half▲ 37.0pp40.5%within the sector's middle half▼ 14.1pp39.5%within the sector's middle half▼ 1.0pp45.4%within the sector's middle half▲ 5.9pp42.2%within the sector's middle half▼ 3.2pp
Current ratio1.30within the sector's middle half▲ 0.090.90within the sector's middle half▼ 0.400.99within the sector's middle half▲ 0.091.42within the sector's middle half▲ 0.431.22within the sector's middle half▼ 0.21
Return on assets (ROA)12.1%within the sector's middle half▲ 8.1pp0.2%within the sector's middle half▼ 11.8pp-7.4%below the sector's middle half▼ 7.6pp5.3%within the sector's middle half▲ 12.7pp-9.5%below the sector's middle half▼ 14.9pp
Staff (FTE)8.9within the sector's middle half▲ 27.1%11.9within the sector's middle half▲ 33.7%12.2within the sector's middle half▲ 2.5%13.9within the sector's middle half▲ 13.9%14.2within the sector's middle half▲ 2.2%
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €30,565 after €74,924 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €754,672
Fixed assets
€519,561 ▼ 4.1%
Current assets
€235,111 ▼ 5.6%
Equity and liabilities €754,672
Equity
€318,633 ▼ 18.4%
Debt
€436,039 ▼ 7.1%
Debt's share of the balance-sheet total rises from 54.6% to 57.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€103,041▼
2024 · €201,159
Cash flow
€61,769▼
2024 · €172,112
Quick ratio
1.12▼
2024 · 1.31
Debt to equity
1.37▲
2024 · 1.20
ROE
-22.5%▼
2024 · 11.7%
Interest coverage
2.50▼
2024 · 7.24
Debt ≤ 1 year
€193,377▲
2024 · €175,064
Debt > 1 year
€239,371▼
2024 · €282,906
Income taxes
€264▼
2024 · €1,456
Staff costs
€654,233▲
2024 · €588,929
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,687 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.6%
went bankrupt
5.4%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 2,687 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €294,886 | €518,854 | €575,768 | €588,929 | €654,233 | ▲ 11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €99,176 | €110,689 | €128,268 | €126,235 | €133,607 | ▲ 5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €1,092 | - | -€1,092 | - |
| Other operating charges640/8 | €4,256 | €5,923 | €29,746 | €6,185 | €7,454 | ▲ 20.5% |
| Gross operating margin9900 | €544,996 | €652,936 | €698,417 | €796,273 | €763,636 | ▼ 4.1% |
| Operating profit (loss)9901 | €146,679 | €17,471 | -€36,458 | €74,924 | -€30,565 | ▼ 141% |
| Financial income75/76B | €3,823 | €94 | €14,093 | €191 | €193 | ▲ 1.3% |
| Recurring financial income75 | €3,823 | €94 | €14,093 | €191 | €193 | ▲ 1.3% |
| Financial charges65/66B | €13,776 | €14,921 | €21,331 | €27,782 | €41,201 | ▲ 48.3% |
| Recurring financial charges65 | €13,776 | €14,921 | €21,331 | €27,782 | €41,201 | ▲ 48.3% |
| Profit (loss) for the period before taxes9903 | €136,726 | €2,644 | -€43,696 | €47,334 | -€71,573 | ▼ 251% |
| Income taxes67/77 | €46,872 | €224 | €20,982 | €1,456 | €264 | ▼ 81.9% |
| Profit (loss) for the period9904 | €89,854 | €2,420 | -€64,678 | €45,878 | -€71,837 | ▼ 257% |
| Profit (loss) for the period to be appropriated9905 | €89,854 | €2,420 | -€64,678 | €45,878 | -€71,837 | ▼ 257% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €744,475 | €1.0m | €873,029 | €860,073 | €754,672 | ▼ 12.3% |
| Formation expenses20 | €276,821 | €207,616 | €138,410 | €69,205 | €0 | ▼ 100% |
| Fixed assets21/28 | €237,201 | €596,039 | €546,700 | €541,827 | €519,561 | ▼ 4.1% |
| Tangible fixed assets22/27 | €237,201 | €596,039 | €546,700 | €541,722 | €518,536 | ▼ 4.3% |
| Land and buildings22 | €168,968 | €531,198 | €492,426 | €475,259 | €456,261 | ▼ 4.0% |
| Plant, machinery and equipment23 | €41,850 | €47,354 | €42,401 | €55,776 | €49,077 | ▼ 12.0% |
| Furniture and vehicles24 | €26,383 | €17,487 | €11,873 | €10,688 | €13,198 | ▲ 23.5% |
| Financial fixed assets28 | - | - | - | €105 | €1,025 | ▲ 876% |
| Current assets29/58 | €230,453 | €206,664 | €187,918 | €249,040 | €235,111 | ▼ 5.6% |
| Amounts receivable after more than one year29 | - | €15,094 | €15,282 | €15,473 | €15,667 | ▲ 1.3% |
| Other amounts receivable291 | - | €15,094 | €15,282 | €15,473 | €15,667 | ▲ 1.3% |
| Stocks and contracts in progress3 | €10,000 | €26,885 | €15,488 | €19,696 | €18,380 | ▼ 6.7% |
| Stocks30/36 | €10,000 | €26,885 | €15,488 | €19,696 | €18,380 | ▼ 6.7% |
| Amounts receivable within one year40/41 | €25,785 | €70,569 | €64,284 | €95,400 | €90,392 | ▼ 5.2% |
| Trade receivables40 | €9,745 | €38,918 | €18,621 | €16,788 | €10,112 | ▼ 39.8% |
| Other amounts receivable41 | €16,040 | €31,651 | €45,663 | €78,612 | €80,281 | ▲ 2.1% |
| Cash at bank and in hand54/58 | €194,169 | €72,012 | €63,507 | €112,077 | €83,565 | ▼ 25.4% |
| Deferred charges and accrued income490/1 | €499 | €22,105 | €29,356 | €6,393 | €27,107 | ▲ 324% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €744,475 | €1.0m | €873,029 | €860,073 | €754,672 | ▼ 12.3% |
| Equity10/15 | €406,851 | €409,271 | €344,593 | €390,471 | €318,633 | ▼ 18.4% |
| Contributions10/11 | €36,700 | €36,700 | €36,700 | €36,700 | €36,700 | = |
| Reserves13 | €370,151 | €372,571 | €307,893 | €353,771 | €281,933 | ▼ 20.3% |
| Distributable reserves133 | €370,151 | €372,571 | €307,893 | €353,771 | €281,933 | ▼ 20.3% |
| Amounts payable17/49 | €337,624 | €601,048 | €528,436 | €469,602 | €436,039 | ▼ 7.1% |
| Amounts payable after more than one year17 | €160,364 | €370,460 | €327,162 | €282,906 | €239,371 | ▼ 15.4% |
| Financial debts170/4 | €160,364 | €370,460 | €327,162 | €282,906 | €239,371 | ▼ 15.4% |
| Amounts payable within one year42/48 | €177,260 | €230,586 | €189,873 | €175,064 | €193,377 | ▲ 10.5% |
| Current portion of amounts payable after more than one year42 | €33,616 | €41,472 | €43,298 | €44,256 | €43,535 | ▼ 1.6% |
| Trade debts44 | €17,837 | €100,996 | €75,510 | €74,176 | €98,233 | ▲ 32.4% |
| Suppliers440/4 | €17,837 | €100,996 | €75,510 | €74,176 | €98,233 | ▲ 32.4% |
| Advances received on contracts in progress46 | €10,268 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €115,539 | €88,118 | €71,065 | €53,865 | €49,481 | ▼ 8.1% |
| Taxes450/3 | €76,972 | €39,955 | €25,321 | €921 | - | - |
| Remuneration and social security454/9 | €38,566 | €48,163 | €45,744 | €52,944 | €49,481 | ▼ 6.5% |
| Other amounts payable47/48 | - | - | - | €2,767 | €2,128 | ▼ 23.1% |
| Accrued charges and deferred income492/3 | - | €2 | €11,401 | €11,632 | €3,290 | ▼ 71.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €89,854 | €2,420 | -€64,678 | €45,878 | -€71,837 | ▼ 257% |
| + Depreciation and write-downs630 | €99,176 | €110,689 | €128,268 | €126,235 | €133,607 | ▲ 5.8% |
| Operating cash flow (approximation) | €189,029 | €113,109 | €63,590 | €172,112 | €61,769 | ▼ 64.1% |
| Investment in fixed assets (approximation) | - | -€469,527 | -€78,929 | -€121,362 | -€111,340 | ▲ 8.3% |
| Change in cash | - | -€122,157 | -€8,505 | €48,570 | -€28,513 | ▼ 159% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€71,837
Net result drops to -€71,837, the lowest in the series.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €45,878
Net result €45,878 after one loss-making year.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 78 days late
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 374 days late
2021
31-12
Financial
Highest result since 2018net €89,854 ▲25.3%
Operating result €146,679, net result €89,854, both a record.
2020
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 153 days late
15-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 259 days late
15-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 624 days late
2019
31-12
Financial
Equity above €200,000Eq €245,292 ▲27.3%
2 profitable years in a row build equity to €245,292.
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 407 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Lier · 1 establishment unit since 2012
Ground area
3,609 m²
Building footprint
402 m²
Volume, LiDAR
2,419 m³
Parcel 12392B0412/00B000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
't Oud Lier
since 20122.210.519.538
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12392B0412/00B000 | Flanders | 3,609 m² | 1 · 401 m² | 9.5 m · 2 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 26,557 EUR awarded · 26,557 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,291 EUR | 1,291 EUR |
| 2024 | 2 | 9,357 EUR | 9,357 EUR |
| 2023 | 1 | 8,703 EUR | 8,703 EUR |
| 2022 | 1 | 7,206 EUR | 7,206 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteLier2.210.519.538
Dual-learning approval
7 live approvals · 6 endedHulpkelner (vwo)
Hulpkelner duaal (so)
Keukenmedewerker (vwo)
Keukenmedewerker duaal (so)
Kok (vwo)
Kok duaal (so)
Show 1 more
Restaurant en keuken duaal (so)
Show 6 ended approvals
Hulpkok (so)
Keukenmedewerker (so)
Hulpkelner (so)
Hulpkok (so)
Keukenmedewerker (so)
Kok (so)
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Of 20,509 companies in sector 56111 we hold annual accounts for 11,464. 7,513 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
Founded21-05-2012
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0846275015
Also
9925:BE0846275015
Registered
27-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.