Equity
-€166,425
Debts exceed assets in financial year 2025.
MAGRU
Lifetime
8 annual accounts with figures on one time axispeak €174,506 (2019)
€69,574▲ 77.6%
lowest -€67,240 (2023)
-€7,842▲ €27,527
peak €37,890 (2019)
-€166,425▼ €7,842
€469,119▼ 1.2%
peak 7.4 FTE (2018)
-not published
Board2 names since 2017
2 directorsVan Genechten Martine and 1 other
Documentsfilings and deeds
30-06-202631 days before the deadline
2025abbreviated format
Gross margin from €39,175 to €69,574Loss of €7,842
Key points
from the 2025 annual accountsLosses
-€204,315 in six years
Every financial year from 2020 to 2025 closed with a loss. 2023 was the heaviest.
Turnover
≈ €220,000 estimated
The accounts state no turnover.
Debts
€469,119 155% of the balance sheet
Financial debts 29%Suppliers 1%Taxes and wages 1%Other 69%
Of this, €334,207 falls due within a year.
Staff
1.6 FTE from 7.4 in 2018
Between 2018 and 2025, 78% of the full-time equivalents disappeared.
Position in the sector
-€166,425
Less equity than 93% of companies in food and beverage service. Sector median €78,347 · 4,847 companies.
Checked score
52
Fair
Financially stronger than 23% of micro companies in food and beverage service (NACE 56)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.0% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 23,791 companies (NACE 56, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 6.1%highest value
01-2025: 6.1%● unchanged vs 12-2024highest value
02-2025: 5.8%▼ -0.3 percentage points vs 01-2025
03-2025: 5.7%▼ -0.1 percentage points vs 02-2025
04-2025: 5.5%▼ -0.2 percentage points vs 03-2025
05-2025: 5.5%● unchanged vs 04-2025
06-2025: 5.3%▼ -0.2 percentage points vs 05-2025
07-2025: 2.8%▼ -2.5 percentage points vs 06-2025
08-2025: 2.5%▼ -0.3 percentage points vs 07-2025
09-2025: 2.5%● unchanged vs 08-2025
10-2025: 2.5%● unchanged vs 09-2025
11-2025: 2.4%▼ -0.1 percentage points vs 10-2025
12-2025: 2.4%● unchanged vs 11-2025
01-2026: 2.3%▼ -0.1 percentage points vs 12-2025
02-2026: 2.3%● unchanged vs 01-2026
03-2026: 2.3%● unchanged vs 02-2026
04-2026: 2.3%● unchanged vs 03-2026
05-2026: 2.3%● unchanged vs 04-2026
06-2026: 2.2%▼ -0.1 percentage points vs 05-2026
07-2026: 2.4%▲ +0.2 percentage points vs 06-2026
08-2026: 2.5%▲ +0.1 percentage points vs 07-2026
09-2026: 2.7%▲ +0.2 percentage points vs 08-2026
10-2026: 2.0%▼ -0.7 percentage points vs 09-2026lowest value
11-2026: 2.0%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Sector: Food and beverage service activities (NACE 56)
Negative equity -€166,425
Liquidity: current ratio 0.03, cash €6,704
lowers risk
Size: total assets €302,694
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 9% of them on solvency, 4% on liquidity, 45% on profitability and 35% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,564 companies had the same profile as MAGRU has now. Each dot stands for 4 companies, two years later.
88.9%
were still trading
5.4%
stopped another way
5.1%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAGRU itself: 2.0% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,564 companies, not a prediction for MAGRU. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.03 (0.03 in 2024), below 1. Short-term debt is 110.4% and cash 2.2% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€166,425
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 30-06-2026, 31 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
31 days early
2024
39 days early
2023
40 days early
2022
on the day
2021
109 days late
2020
376 days late
2019
91 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 67 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (4 of the last 5 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0677655658
Company renamed from MARTINE'S LUSTHOF to MAGRU
Change of role: Van Genechten Martine, from manager to director · Director discharge: Van Genechten Martine · General meeting of 28-02-2022 · Gazette deed
Registered office moved within Kruibeke
New registered office: Langestraat 120 te 9150 Kruibeke · Previous registered office: BURCHTSTRAAT 1-9150 KRUIBEKE · General meeting of 02-08-2021 · Gazette deed
First establishment
BV MAGRU, Langestraat 120, Beveren-Kruibeke-Zwijndrecht
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MAGRU Beveren-Kruibeke-Zwijndrecht | €302,694 | €69,574 | -55.0% | - |
| M&C Dendermonde | €335,615 | €83,875 | 32.0% | - |
| LT Antwerp | €298,327 | €70,163 | 36.6% | - |
| FOOD-ART4EVENTS Beveren-Kruibeke-Zwijndrecht | €272,830 | €67,334 | 12.8% | - |
| VARA-SERVIZIO Wijnegem | €323,004 | €60,953 | 5.2% | - |
| Castello Lucano Leuven | €285,667 | €63,326 | 32.5% | - |
| Bazoeka Anzegem | €296,087 | €72,302 | 18.5% | - |
These companies have the same main activity as MAGRU: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €273,000 and €336,000, founded between 2016 and 2018.
Official details
Source: KBO- Status
- Active since 28-06-2017Normal situation
- Activity
- Full-service restaurantsNACE 56111and 1 other
- Joint committee
- 302Hotels and catering · annual accounts 2025
- Establishment unit
- 2.271.160.6719150 Beveren-Kruibeke-Zwijndrecht, since 02-01-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 20-02-2025
Annual accounts 2025
- €302,694▼ 4.4%
- Employeeson 31-12-2025
- 1
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Insights on MAGRU
MAGRU files the abbreviated format. That format states no turnover. The gross margin fell from €161,912 in 2018 to €69,574 in 2025.
The balance sheet grew most in 2022 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MAGRU
- What is the company number of MAGRU?
- The company number of MAGRU is 0677.655.658. The VAT number is the same number with BE in front: BE 0677.655.658.
- Where is MAGRU based?
- The registered office is at Langestraat 120, 9150 Beveren-Kruibeke-Zwijndrecht.Company details
- What does MAGRU do?
- According to the KBO register, the main activity is full-service restaurants (NACE 56111).
- What is the legal form of MAGRU?
- MAGRU is a private limited company (BV).
- When was MAGRU founded?
- MAGRU was founded on 28-06-2017.
- Is MAGRU still active?
- Yes, MAGRU is an active enterprise in the KBO register.
- How many employees does MAGRU have?
- MAGRU had an average of 1.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MAGRU fall under?
- In its 2025 annual accounts, MAGRU states joint committee 302 (Hotels and catering).
- What is the turnover of MAGRU?
- The turnover in financial year 2025 is ≈ €220,000. This figure is estimated from the gross margin of €69,574 and 92 comparable companies (NACE 56111). It probably lies between €180,000 and €300,000.
- Is MAGRU profitable?
- In financial year 2025, MAGRU made a loss of €7,842.
- Where can I find the annual accounts of MAGRU?
- MAGRU filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MAGRU due?
- MAGRU must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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