MEDIA SYSTEM
ActiveSummary
The computed 12-month bankruptcy probability of MEDIA SYSTEM is 5.0% (elevated). The 2025 annual accounts show negative equity (-€58,088) and a net result of -€10,031. Equity is shrinking by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 13604 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
5.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.14 against 0.23 in 2024; short-term debt: 351% and cash: 12.7% of total assets), and equity is negative.
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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 →
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
-251%
Return on assets
-43.3%
Age of the figures
9 mo
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 · 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 -€58,088
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 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 · 10 filingsDeviation from the deadline
2025
6 d late
2024
61 d late
2023
24 d early
2022
21 d late
2021
30 d late
2020
21 d late
2019
270 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 55 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. Usually files around 21 August (4 of the last 5 filed years within 40 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
-€58,088▼ 20.9%
2024 · -€48,057
Total assets
€23,140▲ 23.5%
2024 · €18,737
Net result
-€10,031▲ 21.5%
2024 · -€12,772
Working capital
-€70,262▼ 46.7%
2024 · -€47,895
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
Operating result€22,362€3,169▼ 85.8%-€14,898-€9,554▲ 35.9%-€7,329▲ 23.3%
Net result€21,523within the sector's middle half€1,924within the sector's middle half▼ 91.1%-€16,608below the sector's middle half-€12,772below the sector's middle half▲ 23.1%-€10,031below the sector's middle half▲ 21.5%
Equity-€20,601below the sector's middle half▲ 51.1%-€18,677below the sector's middle half▲ 9.3%-€35,285below the sector's middle half▼ 88.9%-€48,057below the sector's middle half▼ 36.2%-€58,088below the sector's middle half▼ 20.9%
Total assets€15,361below the sector's middle half▲ 75.8%€13,135below the sector's middle half▼ 14.5%€13,217below the sector's middle half▲ 0.6%€18,737below the sector's middle half▲ 41.8%€23,140below the sector's middle half▲ 23.5%
Debt€35,962▼ 29.3%€31,812▼ 11.5%€48,502▲ 52.5%€66,794▲ 37.7%€81,228▲ 21.6%
Working capital-€21,825within the sector's middle half▲ 46.4%-€20,763within the sector's middle half▲ 4.9%-€36,844below the sector's middle half▼ 77.5%-€47,895below the sector's middle half▼ 30.0%-€70,262below the sector's middle half▼ 46.7%
Solvency-134.1%below the sector's middle half▲ 347.9pp-142.2%below the sector's middle half▼ 8.1pp-267.0%below the sector's middle half▼ 124.8pp-256.5%below the sector's middle half▲ 10.5pp-251.0%below the sector's middle half▲ 5.5pp
Current ratio0.39below the sector's middle half▲ 0.240.35below the sector's middle half▼ 0.050.24below the sector's middle half▼ 0.110.23below the sector's middle half▼ 0.010.14below the sector's middle half▼ 0.10
Return on assets (ROA)140.1%above the sector's middle half▲ 180.3pp14.6%within the sector's middle half▼ 125.5pp-125.7%below the sector's middle half▼ 140.3pp-68.2%below the sector's middle half▲ 57.5pp-43.3%below the sector's middle half▲ 24.8pp
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 €7,329 in 2025 against €9,554 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23,140
Fixed assets
€12,174 ▲ 189%
Current assets
€10,966 ▼ 24.5%
Key figures and ratios
EBITDA
-€5,558▲
2024 · -€8,313
Cash flow
-€8,259▲
2024 · -€11,531
Quick ratio
0.05▼
2024 · 0.12
Debt to equity
-1.40▼
2024 · -1.39
Interest coverage
-2.06▲
2024 · -2.58
Debt ≤ 1 year
€81,228▲
2024 · €62,426
Staff costs
€50,815▲
2024 · €9,760
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.0%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 5.0% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.7% |
| 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 75% 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 6,940 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €9,760 | €50,815 | ▲ 421% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €167 | €218 | €527 | €1,241 | €1,772 | ▲ 42.7% |
| Other operating charges640/8 | €204 | €204 | €895 | €444 | €350 | ▼ 21.2% |
| Gross operating margin9900 | €22,733 | €3,590 | -€13,476 | €1,891 | €45,607 | ▲ 2,312% |
| Operating profit (loss)9901 | €22,362 | €3,169 | -€14,898 | -€9,554 | -€7,329 | ▲ 23.3% |
| Financial charges65/66B | €840 | €1,245 | €1,710 | €3,218 | €2,702 | ▼ 16.0% |
| Recurring financial charges65 | €840 | €1,245 | €1,710 | €3,218 | €2,702 | ▼ 16.0% |
| Profit (loss) for the period before taxes9903 | €21,523 | €1,924 | -€16,608 | -€12,772 | -€10,031 | ▲ 21.5% |
| Profit (loss) for the period9904 | €21,523 | €1,924 | -€16,608 | -€12,772 | -€10,031 | ▲ 21.5% |
| Profit (loss) for the period to be appropriated9905 | €21,523 | €1,924 | -€16,608 | -€12,772 | -€10,031 | ▲ 21.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15,361 | €13,135 | €13,217 | €18,737 | €23,140 | ▲ 23.5% |
| Fixed assets21/28 | €1,224 | €2,086 | €1,559 | €4,206 | €12,174 | ▲ 189% |
| Tangible fixed assets22/27 | €1,224 | €2,086 | €1,559 | €4,206 | €11,674 | ▲ 178% |
| Furniture and vehicles24 | - | €1,029 | €669 | €3,482 | €11,117 | ▲ 219% |
| Other tangible fixed assets26 | €1,224 | €1,057 | €890 | €723 | €556 | ▼ 23.1% |
| Financial fixed assets28 | - | - | - | - | €500 | - |
| Current assets29/58 | €14,137 | €11,049 | €11,658 | €14,531 | €10,966 | ▼ 24.5% |
| Stocks and contracts in progress3 | €2,592 | €2,872 | €4,153 | €6,734 | €6,993 | ▲ 3.9% |
| Stocks30/36 | €2,592 | €2,872 | €4,153 | €6,734 | €6,993 | ▲ 3.9% |
| Amounts receivable within one year40/41 | - | €4,657 | €1,480 | €349 | €924 | ▲ 164% |
| Trade receivables40 | - | - | €1,385 | - | - | - |
| Other amounts receivable41 | - | €4,657 | €95 | €349 | €924 | ▲ 164% |
| Cash at bank and in hand54/58 | €11,545 | €3,520 | €5,812 | €7,448 | €2,934 | ▼ 60.6% |
| Deferred charges and accrued income490/1 | - | - | €214 | - | €115 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15,361 | €13,135 | €13,217 | €18,737 | €23,140 | ▲ 23.5% |
| Equity10/15 | -€20,601 | -€18,677 | -€35,285 | -€48,057 | -€58,088 | ▼ 20.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€39,201 | -€37,277 | -€53,885 | -€66,657 | -€76,688 | ▼ 15.0% |
| Amounts payable17/49 | €35,962 | €31,812 | €48,502 | €66,794 | €81,228 | ▲ 21.6% |
| Amounts payable within one year42/48 | €35,962 | €31,812 | €48,502 | €62,426 | €81,228 | ▲ 30.1% |
| Trade debts44 | €5,645 | €12,226 | €27,284 | €40,268 | €45,783 | ▲ 13.7% |
| Suppliers440/4 | €5,645 | €12,226 | €27,284 | €40,268 | €45,783 | ▲ 13.7% |
| Taxes, remuneration and social security45 | €890 | €6,995 | €2,085 | €7,743 | €19,378 | ▲ 150% |
| Taxes450/3 | €890 | €6,995 | €2,085 | €2,125 | €4,679 | ▲ 120% |
| Remuneration and social security454/9 | - | - | - | €5,618 | €14,700 | ▲ 162% |
| Other amounts payable47/48 | €29,427 | €12,591 | €19,133 | €14,415 | €16,066 | ▲ 11.5% |
| Accrued charges and deferred income492/3 | - | - | - | €4,368 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,523 | €1,924 | -€16,608 | -€12,772 | -€10,031 | ▲ 21.5% |
| + Depreciation and write-downs630 | €167 | €218 | €527 | €1,241 | €1,772 | ▲ 42.7% |
| Operating cash flow (approximation) | €21,690 | €2,142 | -€16,081 | -€11,531 | -€8,259 | ▲ 28.4% |
| Investment in fixed assets (approximation) | - | -€1,080 | €0 | -€3,888 | -€9,740 | ▼ 151% |
| Change in cash | - | -€8,025 | €2,292 | €1,636 | -€4,514 | ▼ 376% |
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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 6 days late
07-07
State Gazette act
Resignation: Hakobyan Taron (director)Director discharge · Declaration5 facts ▸
State Gazette act
Resignation: Hakobyan Taron (director)
Director discharge · Declaration5 facts ▸
- General meeting, 31-12-2024
- Director resignation, Hakobyan Taron (director)
- Director discharge, Hakobyan Taron (director)
- Declaration, confirmation of resignation decision
- Other statement, voting method, à l'unanimité
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
07-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€16,608
Net result drops to -€16,608, the lowest in the series; recovery starts the following year.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €21,523
Net result €21,523 after 2 loss-making years.
21-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 21 days late
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 270 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2024
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Sint-Gillis (bij-Brussel) · 1 establishment unit since 2011
Ground area
91 m²
Building footprint
91 m²
Volume, LiDAR
1,004 m³
Parcel 21013B0005/00D015, Brussels · tallest building 15.2 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
le jourdan
since 20112.199.484.304
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21013B0005/00D015 | Brussels | 91 m² | 1 · 91 m² | 15.2 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.
Mandate history
1 person since 2024, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Hakobyan Taron |
|
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 14,005 companies in sector 56301 we hold annual accounts for 4,897. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded11-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID
0208:0834458435
Also
9925:BE0834458435
Registered
27-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.