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KARUSA

Active
Private limited companyfounded 20233 yrs activePrinsstraat 6, 2000 Antwerpen, BelgiumKBO/BCE: BE 0805.236.590
Summary

The computed 12-month bankruptcy probability of KARUSA is 5.8% (elevated). The annual accounts of KARUSA for fiscal year 2025 show a net loss of 53% of the equity at the start of that year. The 2025 annual accounts show equity of €1,996 and a net result of -€2,259. Its solvency ranks better than 34% of 13560 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2025
Axes · tick = 2024
Profitability2▼-80
Solvency37▼-8
Growth32
Track record94
Bankruptcy probability, 12 months
5.8% Elevated
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.24 against 0.35 in 2024; short-term debt: 85% and cash: 14.6% of total assets), and 88.5% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
+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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 3 years 0 10 y
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 2025
Solvency, return and age of the figures
Solvency
11.5%
Return on assets
-13%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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 · 2 filings
Deviation from the deadline
2025
20 d late
2024
25 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% 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.
Companies Code · seven months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 29 August 2023, KARUSA was incorporated as a Private limited company.1 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€1,996▼ 53.1%
2024 · €4,255
Total assets
€17,348▼ 18.2%
2024 · €21,219
Net result
-€2,259
2024 · €2,255
Working capital
-€11,214▼ 4.7%
2024 · -€10,715
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20242025
Operating result€3,100--€2,260
Net result€2,255--€2,259
Equity€4,255-€1,996▼ 53.1%
Total assets€21,219-€17,348▼ 18.2%
Debt€16,964-€15,352▼ 9.5%
Working capital-€10,715--€11,214▼ 4.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€4,000-€2,000€0€2,000€4,000Operating result 2024: €3,100€3,100Net result 2024: €2,255€2,255Operating result 2025: -€2,260-€2,260Net result 2025: -€2,259-€2,25920242025-€4,000-€2,000€0€2,000€4,000Operating result 2024: €3,100€3,100Net result 2024: €2,255€2,250Operating result 2025: -€2,260-€2,260Net result 2025: -€2,259-€2,26020242025
The operating result turns negative in 2025: a loss of €2,260 after €3,100 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17,348
Fixed assets €13,810 ▼ 11.3%
Current assets €3,538 ▼ 37.4%
Equity and liabilities €17,348
Equity €1,996 ▼ 53.1%
Debt €15,352 ▼ 9.5%
Debt's share of the balance-sheet total rises from 79.9% to 88.5%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€261▼
2024 · €5,887
Cash flow
-€260▼
2024 · €5,042
Current ratio
0.24▼
2024 · 0.35
Quick ratio
0.17▼
2024 · 0.28
Debt to equity
7.69▲
2024 · 3.99
ROE
-113.2%▼
2024 · 53.0%
ROA
-13.0%▼
2024 · 10.6%
Interest coverage
-1449.33▼
2024 · 58874.80
Debt ≤ 1 year
€14,752▼
2024 · €16,364
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,207 companies that looked in July 2024 the way this one looks now, 4.2% went bankrupt within 24 months and 90% are still going.

  • Micro
  • 2 to 5 years old
  • solvency 10 to 30%
  • a loss of 10% of the balance sheet or more
4.2% went bankrupt
4.2% stopped otherwise
90% still going

A further 1.6% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 5.8% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.6%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

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 1,207 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet Code20242025
Assets
Total assets20/58€21,219€17,348▼
Fixed assets21/28€15,570€13,810▼
Tangible fixed assets22/27€15,570€13,810▼
Plant, machinery and equipment23€470€350▼
Furniture and vehicles24€800€600▼
Other tangible fixed assets26€14,300€12,860▼
Current assets29/58€5,649€3,538▼
Stocks and contracts in progress3€1,000€1,000=
Stocks30/36€1,000€1,000=
Cash at bank and in hand54/58€4,649€2,538▼
Equity and liabilities
Total equity and liabilities10/49€21,219€17,348▼
Equity10/15€4,255€1,996▼
Contributions10/11€2,000€2,000=
Reserves13€2,255€2,255=
Distributable reserves133€2,255€2,255=
Profit (loss) carried forward14--€2,259
Amounts payable17/49€16,964€15,352▼
Amounts payable within one year42/48€16,364€14,752▼
Trade debts44€131€510▲
Suppliers440/4€131€510▲
Taxes, remuneration and social security45€1,491€1,638▲
Taxes450/3€1,491€1,638▲
Other amounts payable47/48€14,742€12,603▼
Accrued charges and deferred income492/3€600€600=
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,787€1,999▼
Other operating charges640/8€373€419▲
Gross operating margin9900€6,261€158▼
Operating profit (loss)9901€3,100-€2,260▼
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€0€0▲
Recurring financial charges65€0€0▲
Profit (loss) for the period before taxes9903€3,101-€2,259▼
Income taxes67/77€846-
Profit (loss) for the period9904€2,255-€2,259▼
Profit (loss) for the period to be appropriated9905€2,255-€2,259▼
Appropriation of the result
Profit (loss) to be appropriated9906€2,255-€2,259▼
Transfer to equity691/2€2,255-
To other reserves6921€2,255-

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,787€1,999▼ 28.3%
Other operating charges640/8€373€419▲ 12.2%
Gross operating margin9900€6,261€158▼ 97.5%
Operating profit (loss)9901€3,100-€2,260▼ 173%
Financial income75/76B€0€1▲ 188%
Recurring financial income75€0€1▲ 188%
Financial charges65/66B€0€0▲ 80.0%
Recurring financial charges65€0€0▲ 80.0%
Profit (loss) for the period before taxes9903€3,101-€2,259▼ 173%
Income taxes67/77€846--
Profit (loss) for the period9904€2,255-€2,259▼ 200%
Profit (loss) for the period to be appropriated9905€2,255-€2,259▼ 200%
Line20242025Change
Assets
Total assets20/58€21,219€17,348▼ 18.2%
Fixed assets21/28€15,570€13,810▼ 11.3%
Tangible fixed assets22/27€15,570€13,810▼ 11.3%
Plant, machinery and equipment23€470€350▼ 25.5%
Furniture and vehicles24€800€600▼ 25.0%
Other tangible fixed assets26€14,300€12,860▼ 10.1%
Current assets29/58€5,649€3,538▼ 37.4%
Stocks and contracts in progress3€1,000€1,000=
Stocks30/36€1,000€1,000=
Cash at bank and in hand54/58€4,649€2,538▼ 45.4%
Equity and liabilities
Total equity and liabilities10/49€21,219€17,348▼ 18.2%
Equity10/15€4,255€1,996▼ 53.1%
Contributions10/11€2,000€2,000=
Reserves13€2,255€2,255=
Distributable reserves133€2,255€2,255=
Profit (loss) carried forward14--€2,259-
Amounts payable17/49€16,964€15,352▼ 9.5%
Amounts payable within one year42/48€16,364€14,752▼ 9.9%
Trade debts44€131€510▲ 289%
Suppliers440/4€131€510▲ 289%
Taxes, remuneration and social security45€1,491€1,638▲ 9.9%
Taxes450/3€1,491€1,638▲ 9.9%
Other amounts payable47/48€14,742€12,603▼ 14.5%
Accrued charges and deferred income492/3€600€600=
Line20242025Change
Profit (loss) for the period9904€2,255-€2,259▼ 200%
+ Depreciation and write-downs630€2,787€1,999▼ 28.3%
Operating cash flow (approximation)€5,042-€260▼ 105%
Investment in fixed assets (approximation)--€239-
Change in cash--€2,111-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
20-08
NBB filing Annual accounts filed
fiscal year 2025 · micro schema · 20 days late
2025
25-08
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
NBB filing
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 act for this company is 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, Antwerpen · 1 establishment unit since 2023
seat establishment The establishment unit on the map
Ground area
63 m²
Building footprint
63 m²
Volume, LiDAR
749 m³
Parcel 11802B0857/00A000, Flanders · tallest building 17.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
KARUSA
Prinsstraat 6, 2000 AntwerpenRetail sale of bread and pastry (bakery outlets)
since 20232.349.229.142
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
11802B0857/00A000 Flanders 63 m² 1 · 63 m² 17.0 m · 4 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.

Public money · subsidies and aid

Flemish government

2024 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid
Year Entries awardedpaid
2024 1 2,000 EUR2,000 EUR
Schemes
1 entry · 2,000 EUR · 2,000 EUR paid · Fonds voor Innoveren en Ondernemen

Recognitions · licences · registrations

Food safety, FASFC

1 site
Antwerpen2.349.229.142
1 permission
Toelating · Eetgelegenheid · since 21-09-2023

Similar companies · same sector, comparable size

Of 21,859 companies in sector 56112 we hold annual accounts for 9,779. 2,989 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
Founded29-08-2023
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID 0208:0805236590
Also 9925:BE0805236590
Registered 29-12-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.