MAJHON
ActiveSummary
The computed 12-month bankruptcy probability of MAJHON is 1.6% (moderate). The 2025 annual accounts show equity of €35,421 and a net result of -€9,375. Equity is growing by ~25.6% per year across the filed fiscal years. Its solvency ranks better than 38% of 13683 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability28▼-33
Solvency41▼-59
Growth79=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.6 against 11.96 in 2024; short-term debt: 28.3% and cash: 1.4% of total assets), and 83.6% of the assets are financed with debt.
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Signals
Six 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
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 2025Solvency, return and age of the figures
Solvency
16.4%
Return on assets
-4.3%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€9,375
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
31 d late
2023
40 d early
2022
47 d early
2021
49 d late
2020
58 d late
2019
203 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 36 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.
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€71,522▲ 14.5%
2019 · €62,448
EBIT margin
-33.2%▼ 18.3pp
2019 · -14.9%
Net result
-€9,375▼ 242%
2024 · -€2,744
Working capital
-€24,684
2024 · €22,711
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
Turnover
Operating result€49,956€49,913▼ 0.1%€8,762▼ 82.4%-€2,274-€876▲ 61.5%
Net result€46,607above the sector's middle half€31,395above the sector's middle half▼ 32.6%€6,368within the sector's middle half▼ 79.7%-€2,744within the sector's middle half-€9,375below the sector's middle half▼ 242%
EBIT margin
Equity€9,777within the sector's middle half€41,172within the sector's middle half▲ 321%€47,540within the sector's middle half▲ 15.5%€44,796within the sector's middle half▼ 5.8%€35,421within the sector's middle half▼ 20.9%
Total assets€89,541within the sector's middle half▲ 9.3%€151,616within the sector's middle half▲ 69.3%€120,177within the sector's middle half▼ 20.7%€46,869below the sector's middle half▼ 61.0%€215,519within the sector's middle half▲ 360%
Debt€79,764▼ 32.8%€110,443▲ 38.5%€72,637▼ 34.2%€2,073▼ 97.1%€180,097▲ 8,588%
Working capital€2,246within the sector's middle half€33,071within the sector's middle half▲ 1,372%€36,266within the sector's middle half▲ 9.7%€22,711within the sector's middle half▼ 37.4%-€24,684within the sector's middle half
Solvency10.9%within the sector's middle half▲ 55.9pp27.2%within the sector's middle half▲ 16.2pp39.6%within the sector's middle half▲ 12.4pp95.6%above the sector's middle half▲ 56.0pp16.4%within the sector's middle half▼ 79.1pp
Current ratio1.09within the sector's middle half▲ 0.971.49within the sector's middle half▲ 0.401.81within the sector's middle half▲ 0.3211.96above the sector's middle half▲ 10.140.60within the sector's middle half▼ 11.36
Return on assets (ROA)52.1%above the sector's middle half▲ 94.2pp20.7%above the sector's middle half▼ 31.3pp5.3%within the sector's middle half▼ 15.4pp-5.9%below the sector's middle half▼ 11.2pp-4.3%within the sector's middle half▲ 1.5pp
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 stays negative: a loss of €876 in 2025 against €2,274 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215,519
Fixed assets
€179,188 ▲ 711%
Current assets
€36,331 ▲ 46.6%
Equity and liabilities €215,519
Equity
€35,421 ▼ 20.9%
Debt
€180,097 ▲ 8,588%
Debt's share of the balance-sheet total rises from 4.4% to 83.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€15,420▲
2024 · €15,016
Cash flow
€6,921▼
2024 · €14,545
Debt to equity
5.08▲
2024 · 0.05
ROE
-26.5%▼
2024 · -6.1%
Interest coverage
1.81▼
2024 · 22.77
Debt ≤ 1 year
€61,015▲
2024 · €2,073
Debt > 1 year
€119,083▲
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,450 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.5%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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% | 1.8% |
| 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 2,450 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,607 | €11,836 | €11,666 | €17,290 | €16,296 | ▼ 5.7% |
| Other operating charges640/8 | - | €621 | €1,355 | €1,177 | €1,875 | ▲ 59.4% |
| Non-recurring operating charges66A | - | €13,760 | - | - | - | - |
| Gross operating margin9900 | €63,659 | €76,130 | €21,784 | €16,193 | €17,295 | ▲ 6.8% |
| Operating profit (loss)9901 | €49,956 | €49,913 | €8,762 | -€2,274 | -€876 | ▲ 61.5% |
| Financial income75/76B | - | €126 | €45 | €189 | - | - |
| Recurring financial income75 | - | €126 | €45 | €189 | - | - |
| Financial charges65/66B | - | €3,068 | €2,439 | €660 | €8,499 | ▲ 1,189% |
| Recurring financial charges65 | €3,349 | €3,068 | €2,439 | €660 | €8,499 | ▲ 1,189% |
| Profit (loss) for the period before taxes9903 | €46,607 | €46,971 | €6,368 | -€2,744 | -€9,375 | ▼ 242% |
| Income taxes67/77 | - | €15,576 | - | - | - | - |
| Profit (loss) for the period9904 | €46,607 | €31,395 | €6,368 | -€2,744 | -€9,375 | ▼ 242% |
| Profit (loss) for the period to be appropriated9905 | €46,607 | €31,395 | €6,368 | -€2,744 | -€9,375 | ▼ 242% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €89,541 | €151,616 | €120,177 | €46,869 | €215,519 | ▲ 360% |
| Fixed assets21/28 | €62,547 | €51,041 | €39,375 | €22,085 | €179,188 | ▲ 711% |
| Tangible fixed assets22/27 | €62,547 | €51,041 | €39,375 | €22,085 | €179,188 | ▲ 711% |
| Land and buildings22 | - | €43,103 | €34,496 | €21,584 | €179,083 | ▲ 730% |
| Plant, machinery and equipment23 | - | €7,258 | €4,502 | €368 | €38 | ▼ 89.8% |
| Furniture and vehicles24 | - | €680 | €377 | €134 | €68 | ▼ 49.3% |
| Current assets29/58 | €26,994 | €100,575 | €80,802 | €24,784 | €36,331 | ▲ 46.6% |
| Amounts receivable within one year40/41 | €1,721 | €65,064 | €79,037 | €9,083 | €19,435 | ▲ 114% |
| Trade receivables40 | - | €6,435 | €1,860 | €1,841 | €13,750 | ▲ 647% |
| Other amounts receivable41 | - | €58,629 | €77,177 | €7,242 | €5,685 | ▼ 21.5% |
| Cash at bank and in hand54/58 | €25,272 | €35,511 | €1,766 | €15,701 | €3,075 | ▼ 80.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €13,822 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €89,541 | €151,616 | €120,177 | €46,869 | €215,519 | ▲ 360% |
| Equity10/15 | €9,777 | €41,172 | €47,540 | €44,796 | €35,421 | ▼ 20.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Non-distributable reserves130/1 | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves not available under the articles1311 | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Tax-exempt reserves132 | - | €14,000 | €14,000 | €14,000 | €14,000 | = |
| Profit (loss) carried forward14 | -€23,823 | €7,572 | €13,940 | €11,196 | €1,821 | ▼ 83.7% |
| Amounts payable17/49 | €79,764 | €110,443 | €72,637 | €2,073 | €180,097 | ▲ 8,588% |
| Amounts payable after more than one year17 | €51,317 | €39,139 | €24,000 | €0 | €119,083 | - |
| Financial debts170/4 | - | €39,139 | €24,000 | €0 | €119,083 | - |
| Amounts payable within one year42/48 | €24,747 | €67,504 | €44,537 | €2,073 | €61,015 | ▲ 2,843% |
| Current portion of amounts payable after more than one year42 | - | €12,177 | - | - | €6,086 | - |
| Trade debts44 | - | €6,833 | €1,757 | €613 | €5,345 | ▲ 771% |
| Suppliers440/4 | - | €6,833 | €1,757 | €613 | €5,345 | ▲ 771% |
| Taxes, remuneration and social security45 | - | €18,939 | €2,481 | €62 | €62 | = |
| Taxes450/3 | - | €18,939 | €2,481 | €62 | €62 | = |
| Other amounts payable47/48 | - | €29,555 | €40,298 | €1,398 | €49,522 | ▲ 3,443% |
| Accrued charges and deferred income492/3 | - | €3,800 | €4,100 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €46,607 | €31,395 | €6,368 | -€2,744 | -€9,375 | ▼ 242% |
| + Depreciation and write-downs630 | €11,607 | €11,836 | €11,666 | €17,290 | €16,296 | ▼ 5.7% |
| Operating cash flow (approximation) | €58,214 | €43,231 | €18,035 | €14,545 | €6,921 | ▼ 52.4% |
| Investment in fixed assets (approximation) | - | -€330 | €0 | €0 | -€173,399 | - |
| Change in cash | - | €10,239 | -€33,746 | €13,936 | -€12,627 | ▼ 191% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Liquidity times 7current ratio 11.96
Current ratio from 1.81 to 11.96; short-term debt falls from €44,537 to €2,073.
2023
22-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
15-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 49 days late
2021
30-06
Financial
Back to profitnet €46,607
Net result €46,607 after 2 loss-making years.
30-06
Financial
Liquidity times 9current ratio 1.09
Current ratio from 0.12 to 1.09; short-term debt falls from €55,446 to €24,747.
30-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 203 days late
30-06
Financial
Weakest financial yearnet -€34,536
Net result drops to -€34,536, the lowest in the series; recovery starts the following year.
2019
13-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
07-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 7 days late
2017
14-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 14 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Herve · 1 establishment unit since 2004
Ground area
6,001 m²
Building footprint
224 m²
Volume, LiDAR
885 m³
2 parcels, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CHARLIER & Co
since 20042.139.367.266
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63028A1212/00B000 | Wallonia | 5,268 m² | 1 · 126 m² | 3.2 m · 1 fl. |
| 63030B0091/00D002 | Wallonia | 733 m² | 1 · 98 m² | 7.8 m · 2 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.
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Of 21,853 companies in sector 56112 we hold annual accounts for 9,781. 8,447 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
Founded17-09-2004
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0867302140
Registered
11-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.