KOZAN
Judicial reorganisationSummary
The file of KOZAN contains 1 judicial reorganisation, as published in the Belgian State Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2024 annual accounts show equity of €158,798 and a net result of €68,658. Equity is growing by ~40.2% per year across the filed fiscal years. Its solvency ranks better than 71% of 18932 sector peers (fiscal year 2024).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Opened
- 27 April 2026
- Track
- Reorganisation by collective agreement
- Docket number
- 20260081
- Moratorium until
- 2 September 2026 (passed; an extension would be in a later judgment)
- Delegated judge
- Michel Gustot
- Official Gazette
- 11-05-2026 (pdf) ↗search the document for 2026/118878
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help. Full guide for creditors
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Checked score
Score 2024
44
/ 100
Weak
An ongoing judicial reorganisation from the Belgian State Gazette caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability98▲+22
Solvency79▲+11
Growth78=
Track record60
Credit verdict
No credit on open account during an ongoing judicial reorganisation
Liquidity ample (current ratio 1.66 against 1.02 in 2023; short-term debt: 42.7% and cash: 22.8% of total assets), and 46.4% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
20 d early
2022
on the day
2021
18 d late
2020
19 d early
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 13 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 (1)
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Is the registered address a letterbox address or a business centre?Address check Are there other customers at risk in your own list?Debtor check How is the Limited-service restaurants, excluding mobile food services sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€158,798▲ 76.2%
2023 · €90,140
Total assets
€296,299▲ 40.7%
2023 · €210,628
Net result
€68,658▲ 132%
2023 · €29,578
Working capital
€83,473▲ 5,017%
2023 · €1,631
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
Line20202021202220232024
Operating result€16,486▲ 158%€55,584▲ 237%€23,704▼ 57.4%€54,716▲ 131%€100,888▲ 84.4%
Net result€4,304€32,873▲ 664%€1,415▼ 95.7%€29,578▲ 1,990%€68,658▲ 132%
Equity€26,275▲ 19.6%€59,147▲ 125%€60,562▲ 2.4%€90,140▲ 48.8%€158,798▲ 76.2%
Total assets€127,138▼ 17.6%€134,665▲ 5.9%€152,345▲ 13.1%€210,628▲ 38.3%€296,299▲ 40.7%
Debt€100,863▼ 23.8%€75,518▼ 25.1%€91,783▲ 21.5%€120,488▲ 31.3%€137,501▲ 14.1%
Working capital-€18,315▼ 68.4%€11,760€27,116▲ 131%€1,631▼ 94.0%€83,473▲ 5,017%
Staff (FTE)0.71.7▲ 143%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 84% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €296,299
Fixed assets
€86,229 ▼ 19.2%
Current assets
€210,070 ▲ 102%
Equity and liabilities €296,299
Equity
€158,798 ▲ 76.2%
Debt
€137,501 ▲ 14.1%
Debt's share of the balance-sheet total falls from 57.2% to 46.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€138,142▲
2023 · €84,522
Cash flow
€105,912▲
2023 · €59,383
Current ratio
1.66▲
2023 · 1.02
Quick ratio
1.49▲
2023 · 0.77
Debt to equity
0.87▼
2023 · 1.34
ROE
43.2%▲
2023 · 32.8%
ROA
23.2%▲
2023 · 14.0%
Interest coverage
10.38▲
2023 · 4.79
Debt ≤ 1 year
€126,596▲
2023 · €102,296
Debt > 1 year
€10,904▼
2023 · €18,192
Income taxes
€19,055▲
2023 · €7,490
Staff costs
€20,832▲
2023 · €14,350
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €14,350 | €20,832 | ▲ 45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,600 | €38,985 | €31,437 | €29,806 | €37,253 | ▲ 25.0% |
| Other operating charges640/8 | - | €57,675 | €82,988 | €83,752 | €71,166 | ▼ 15.0% |
| Gross operating margin9900 | €108,871 | €152,244 | €138,129 | €182,623 | €230,139 | ▲ 26.0% |
| Operating profit (loss)9901 | €16,486 | €55,584 | €23,704 | €54,716 | €100,888 | ▲ 84.4% |
| Financial income75/76B | - | €5 | €22 | €1 | €139 | ▲ 12,971% |
| Recurring financial income75 | €13 | €5 | €22 | €1 | €139 | ▲ 12,971% |
| Financial charges65/66B | - | €14,771 | €20,223 | €17,649 | €13,314 | ▼ 24.6% |
| Recurring financial charges65 | €11,986 | €14,771 | €20,223 | €17,649 | €13,314 | ▼ 24.6% |
| Profit (loss) for the period before taxes9903 | €4,514 | €40,818 | €3,503 | €37,068 | €87,713 | ▲ 137% |
| Income taxes67/77 | €209 | €7,946 | €2,088 | €7,490 | €19,055 | ▲ 154% |
| Profit (loss) for the period9904 | €4,304 | €32,873 | €1,415 | €29,578 | €68,658 | ▲ 132% |
| Profit (loss) for the period to be appropriated9905 | €4,304 | €32,873 | €1,415 | €29,578 | €68,658 | ▲ 132% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €127,138 | €134,665 | €152,345 | €210,628 | €296,299 | ▲ 40.7% |
| Fixed assets21/28 | €85,821 | €57,669 | €33,446 | €106,701 | €86,229 | ▼ 19.2% |
| Tangible fixed assets22/27 | €81,091 | €57,619 | €33,396 | €106,368 | €85,896 | ▼ 19.2% |
| Plant, machinery and equipment23 | - | - | - | €8,733 | €9,420 | ▲ 7.9% |
| Furniture and vehicles24 | - | €15,224 | €8,378 | €61,267 | €53,815 | ▼ 12.2% |
| Leasing and similar rights25 | - | €19,261 | - | €16,064 | €12,132 | ▼ 24.5% |
| Other tangible fixed assets26 | - | €23,134 | €25,019 | €20,304 | €10,530 | ▼ 48.1% |
| Financial fixed assets28 | €4,730 | €50 | €50 | €333 | €333 | = |
| Current assets29/58 | €41,317 | €76,997 | €118,899 | €103,927 | €210,070 | ▲ 102% |
| Stocks and contracts in progress3 | €11,152 | €2,079 | €4,902 | €25,498 | €21,528 | ▼ 15.6% |
| Stocks30/36 | - | €2,079 | €4,902 | €25,498 | €21,528 | ▼ 15.6% |
| Amounts receivable within one year40/41 | €10,828 | €34,753 | €82,604 | €60,629 | €121,116 | ▲ 99.8% |
| Trade receivables40 | - | €9,162 | €42,909 | €3,599 | €12,430 | ▲ 245% |
| Other amounts receivable41 | - | €25,591 | €39,695 | €57,030 | €108,687 | ▲ 90.6% |
| Cash at bank and in hand54/58 | €19,337 | €40,164 | €31,393 | €17,801 | €67,425 | ▲ 279% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €127,138 | €134,665 | €152,345 | €210,628 | €296,299 | ▲ 40.7% |
| Equity10/15 | €26,275 | €59,147 | €60,562 | €90,140 | €158,798 | ▲ 76.2% |
| Contributions10/11 | - | €17,170 | €17,170 | €17,170 | €17,170 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €7,245 | €40,117 | €41,532 | €71,110 | €139,768 | ▲ 96.6% |
| Amounts payable17/49 | €100,863 | €75,518 | €91,783 | €120,488 | €137,501 | ▲ 14.1% |
| Amounts payable after more than one year17 | €41,231 | €10,281 | - | €18,192 | €10,904 | ▼ 40.1% |
| Financial debts170/4 | - | €10,281 | - | €18,192 | €10,904 | ▼ 40.1% |
| Amounts payable within one year42/48 | €59,632 | €65,237 | €91,783 | €102,296 | €126,596 | ▲ 23.8% |
| Current portion of amounts payable after more than one year42 | - | €34,953 | €10,281 | €8,242 | €7,288 | ▼ 11.6% |
| Trade debts44 | €16,772 | €22,339 | €58,278 | €70,455 | €72,483 | ▲ 2.9% |
| Suppliers440/4 | - | €22,339 | €58,278 | €70,455 | €72,483 | ▲ 2.9% |
| Advances received on contracts in progress46 | - | - | €13,126 | - | - | - |
| Taxes, remuneration and social security45 | - | €7,946 | €10,099 | €23,599 | €46,732 | ▲ 98.0% |
| Taxes450/3 | - | €7,946 | €10,099 | €19,717 | €44,035 | ▲ 123% |
| Remuneration and social security454/9 | - | - | - | €3,883 | €2,697 | ▼ 30.5% |
| Other amounts payable47/48 | - | - | - | - | €94 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,304 | €32,873 | €1,415 | €29,578 | €68,658 | ▲ 132% |
| + Depreciation and write-downs630 | €36,600 | €38,985 | €31,437 | €29,806 | €37,253 | ▲ 25.0% |
| Operating cash flow (approximation) | €40,904 | €71,858 | €32,852 | €59,383 | €105,912 | ▲ 78.4% |
| Investment in fixed assets (approximation) | - | -€10,833 | -€7,215 | -€103,060 | -€16,782 | ▲ 83.7% |
| Change in cash | - | €20,827 | -€8,771 | -€13,592 | €49,624 | ▲ 465% |
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
2026
11-05
Judicial reorganisation
Opening
Tribunal de l’entreprise francophone de Bruxelles · collective agreement (SME) · event 27-04-2026
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Highest result since 2018net €68,658 ▲132%
Operating result €100,888, net result €68,658, both a record.
31-12
Financial
Equity above €150,000Eq €158,798 ▲76.2%
5 profitable years in a row build equity to €158,798.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €4,304
Net result €4,304 after one loss-making year.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
2019
31-12
Financial
Weakest financial yearnet -€799
Net result drops to -€799, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Jans-Molenbeek · 2 establishment units since 2017
Ground area
6,142 m²
Building footprint
489 m²
Volume, LiDAR
10,019 m³
2 parcels, Brussels · tallest building 27.1 m, ±8 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
L'Aphrodite
since 20172.269.225.126
Madame GUSTO
since 20222.335.122.669
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21526D0295/00K002 | Brussels | 6,013 m² | 1 · 358 m² | 27.1 m · 8 fl. |
| 21010B0019/00Z016 | Brussels | 130 m² | 1 · 130 m² | 14.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
2 sitesJette2.335.122.669
Sint-Jans-Molenbeek2.269.225.126
Similar companies · same sector, comparable size
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N.R. Charleroi
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Aalstralian
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,779. 7,161 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
Founded26-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
47621Retail sale of newspapers and periodicals
E-invoicing
Reachable via Peppol
Peppol ID
0208:0683728056
Also
9925:BE0683728056
Registered
06-11-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.