M&I
ActiveSummary
The computed 12-month bankruptcy probability of M&I is 2.0% (moderate). The 2024 annual accounts show equity of €128,625 and a net result of €59,909. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 80% of 18934 sector peers (fiscal year 2024). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+32
Solvency89▲+18
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 1.17 in 2023; short-term debt: 35.8% and cash: 49.1% of total assets), and 35.8% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
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 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
25 d late
2023
2 d early
2022
46 d late
2021
46 d early
2020
3 d early
2019
17 d early
← 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 5 days before 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 30 July (4 of the last 5 filed years within 45 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€128,625▲ 87.2%
2023 · €68,716
Total assets
€200,283▲ 34.8%
2023 · €148,625
Net result
€59,909
2023 · -€848
Working capital
€67,395▲ 408%
2023 · €13,275
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
Line20202021202220232024
Operating result€14,453=€18,262▲ 26.4%€29,435▲ 61.2%€8,630▼ 70.7%€91,616▲ 962%
Net result-€21,065€7,758within the sector's middle half€13,734within the sector's middle half▲ 77.0%-€848within the sector's middle half€59,909above the sector's middle half
Equity€69,137=€55,830within the sector's middle half▼ 19.2%€69,564within the sector's middle half▲ 24.6%€68,716within the sector's middle half▼ 1.2%€128,625above the sector's middle half▲ 87.2%
Total assets€77,239=€94,638within the sector's middle half▲ 22.5%€98,408within the sector's middle half▲ 4.0%€148,625within the sector's middle half▲ 51.0%€200,283within the sector's middle half▲ 34.8%
Debt€8,241▲ 1.7%€38,808▲ 371%€28,844▼ 25.7%€79,909▲ 177%€71,658▼ 10.3%
Working capital€62,666▼ 0.2%€7,552within the sector's middle half▼ 87.9%€22,469within the sector's middle half▲ 198%€13,275within the sector's middle half▼ 40.9%€67,395above the sector's middle half▲ 408%
Solvency89.5%=59.0%within the sector's middle half▼ 30.5pp70.7%above the sector's middle half▲ 11.7pp46.2%within the sector's middle half▼ 24.5pp64.2%above the sector's middle half▲ 18.0pp
Current ratio8.60▼ 0.151.19within the sector's middle half▼ 7.411.78within the sector's middle half▲ 0.581.17within the sector's middle half▼ 0.611.94within the sector's middle half▲ 0.77
Return on assets (ROA)-27.3%▼ 43.4pp8.2%within the sector's middle half▲ 35.5pp14.0%within the sector's middle half▲ 5.8pp-0.6%within the sector's middle half▼ 14.5pp29.9%above the sector's middle half▲ 30.5pp
Staff (FTE)0.5▼ 16.7%1▲ 100%1.6▲ 60.0%1.5▼ 6.3%1.8▲ 20.0%
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 962% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €200,283
Fixed assets
€61,230 ▲ 10.4%
Current assets
€139,053 ▲ 49.2%
Equity and liabilities €200,283
Equity
€128,625 ▲ 87.2%
Debt
€71,658 ▼ 10.3%
Debt's share of the balance-sheet total falls from 53.8% to 35.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€100,126▲
2023 · €31,525
Cash flow
€68,420▲
2023 · €22,047
Quick ratio
1.79▲
2023 · 0.96
Debt to equity
0.56▼
2023 · 1.16
ROE
46.6%▲
2023 · -1.2%
Interest coverage
50.94▲
2023 · 34.08
Debt ≤ 1 year
€71,658▼
2023 · €79,909
Income taxes
€31,908▲
2023 · €10,148
Staff costs
€65,497▲
2023 · €50,513
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 2.0% 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 34,696 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3,012 | - |
| Remuneration, social security and pensions62 | - | €16,138 | €53,787 | €50,513 | €65,497 | ▲ 29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,808 | €8,541 | €8,344 | €22,895 | €8,510 | ▼ 62.8% |
| Other operating charges640/8 | - | €890 | €2,451 | €4,261 | €3,514 | ▼ 17.5% |
| Gross operating margin9900 | €38,242 | €43,832 | €94,017 | €86,298 | €169,137 | ▲ 96.0% |
| Operating profit (loss)9901 | €14,453 | €18,262 | €29,435 | €8,630 | €91,616 | ▲ 962% |
| Financial income75/76B | - | €75 | - | €1,595 | €2,167 | ▲ 35.9% |
| Recurring financial income75 | €3,211 | €75 | - | €1,595 | €2,167 | ▲ 35.9% |
| Financial charges65/66B | - | €2,090 | €3,846 | €925 | €1,966 | ▲ 112% |
| Recurring financial charges65 | €1,587 | €2,090 | €3,846 | €925 | €1,966 | ▲ 112% |
| Profit (loss) for the period before taxes9903 | -€20,505 | €16,246 | €25,589 | €9,300 | €91,818 | ▲ 887% |
| Income taxes67/77 | €5,121 | €8,488 | €11,855 | €10,148 | €31,908 | ▲ 214% |
| Profit (loss) for the period9904 | -€21,065 | €7,758 | €13,734 | -€848 | €59,909 | ▲ 7,165% |
| Profit (loss) for the period to be appropriated9905 | -€21,065 | €7,758 | €13,734 | -€848 | €59,909 | ▲ 7,165% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €77,239 | €94,638 | €98,408 | €148,625 | €200,283 | ▲ 34.8% |
| Fixed assets21/28 | €22,640 | €48,278 | €47,095 | €55,441 | €61,230 | ▲ 10.4% |
| Intangible fixed assets21 | - | - | - | - | €8,744 | - |
| Tangible fixed assets22/27 | €22,640 | €47,378 | €46,195 | €54,541 | €51,586 | ▼ 5.4% |
| Land and buildings22 | - | - | - | - | €2,229 | - |
| Plant, machinery and equipment23 | - | €34,547 | €37,497 | €26,684 | €26,305 | ▼ 1.4% |
| Furniture and vehicles24 | - | €12,831 | €8,699 | €27,857 | €23,053 | ▼ 17.2% |
| Financial fixed assets28 | - | €900 | €900 | €900 | €900 | = |
| Current assets29/58 | €70,908 | €46,360 | €51,312 | €93,184 | €139,053 | ▲ 49.2% |
| Stocks and contracts in progress3 | €2,245 | €9,150 | €14,939 | €16,503 | €10,805 | ▼ 34.5% |
| Stocks30/36 | - | €9,150 | €14,939 | €16,503 | €10,805 | ▼ 34.5% |
| Amounts receivable within one year40/41 | €52,680 | €17,891 | - | €60,313 | €29,894 | ▼ 50.4% |
| Trade receivables40 | - | €5,204 | - | - | - | - |
| Other amounts receivable41 | - | €12,688 | - | €60,313 | €29,894 | ▼ 50.4% |
| Cash at bank and in hand54/58 | €15,983 | €18,692 | €36,186 | €10,621 | €98,331 | ▲ 826% |
| Deferred charges and accrued income490/1 | - | €627 | €187 | €5,747 | €22 | ▼ 99.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €77,239 | €94,638 | €98,408 | €148,625 | €200,283 | ▲ 34.8% |
| Equity10/15 | €69,137 | €55,830 | €69,564 | €68,716 | €128,625 | ▲ 87.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | €18,600 | - | - |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €48,677 | €35,370 | €49,104 | €48,256 | €108,165 | ▲ 124% |
| Amounts payable17/49 | €8,241 | €38,808 | €28,844 | €79,909 | €71,658 | ▼ 10.3% |
| Amounts payable within one year42/48 | €8,241 | €38,808 | €28,844 | €79,909 | €71,658 | ▼ 10.3% |
| Trade debts44 | €1,637 | - | €322 | €67,421 | €35,775 | ▼ 46.9% |
| Suppliers440/4 | - | - | €322 | €67,421 | €35,775 | ▼ 46.9% |
| Taxes, remuneration and social security45 | - | €14,808 | €28,522 | €12,488 | €35,883 | ▲ 187% |
| Taxes450/3 | - | €9,417 | €28,522 | €12,488 | €35,883 | ▲ 187% |
| Remuneration and social security454/9 | - | €5,391 | - | - | - | - |
| Other amounts payable47/48 | - | €24,000 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,065 | €7,758 | €13,734 | -€848 | €59,909 | ▲ 7,165% |
| + Depreciation and write-downs630 | €9,808 | €8,541 | €8,344 | €22,895 | €8,510 | ▼ 62.8% |
| Operating cash flow (approximation) | -€11,257 | €16,299 | €22,078 | €22,047 | €68,420 | ▲ 210% |
| Investment in fixed assets (approximation) | - | -€34,179 | -€7,162 | -€31,241 | -€14,299 | ▲ 54.2% |
| Change in cash | - | €2,709 | €17,494 | -€25,564 | €87,710 | ▲ 443% |
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
24-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Back to profitnet €59,909
Net result €59,909 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €128,625 ▲87.2%
Equity rises from €68,716 to €128,625.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 46 days late
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €7,758
Net result €7,758 after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€21,065
Net result drops to -€21,065, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
04-07
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 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, Antwerpen · 2 establishment units since 2011
Ground area
115 m²
Building footprint
114 m²
Volume, LiDAR
1,518 m³
2 parcels, Flanders · tallest building 14.8 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Emirdag Köftecisi
since 20112.196.214.909
Emirdag Koftecisi
since 20252.377.480.094
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11809I2410/00H009 | Flanders | 64 m² | 1 · 63 m² | 13.9 m · 4 fl. |
| 11809I2410/00X008 | Flanders | 51 m² | 1 · 51 m² | 14.8 m · 5 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 sitesAntwerpen2.196.214.909
Antwerpen2.377.480.094
Similar companies · same sector, comparable size
ERDA
BE 1011.396.036
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ALPAJURO
BE 0876.413.014
Elsene · Eq €128,547
FRAîCHE
BE 0541.571.685
Nijlen · Eq €128,711
FRITUUR ERIC
BE 0432.814.196
Waregem · Eq €128,750
POM' DE PAIN
BE 0862.024.053
Bouillon · Eq €128,441
Of 21,853 companies in sector 56112 we hold annual accounts for 9,777. 7,493 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
Founded16-02-2011
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833902169
Also
9925:BE0833902169
Registered
26-11-2025
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.