MINA
ActiveSummary
MINA has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27,921 and a net result of €19,097. Equity has been stable since 2018 (±1% per year). Its solvency ranks better than 70% of 16,961 sector peers (NACE 56, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 06-10-1994 Normal situation
- Activity
- Limited-service restaurants, excluding mobile food services NACE 56112and 1 other
- Establishment unit
- 2.068.739.685 1200 Sint-Lambrechts-Woluwe, since 25-10-1994
- Financial year end
- 31 December
- Peppol
- Reachable since 05-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
- Gross margin
- €58,211
- ▲ 70.3%
- Turnover
- ≈ €210,000
- estimated
- Profit
- €19,097
- ▲ 691%
- Equity
- €27,921
- ▲ 59.4%
- Total assets
- €52,993
- ▲ 63.5%
- Staff
- ≈ 0.9 FTE
- estimated
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskSector: Food and beverage service activities (NACE 56)Last filed accounts filed 31 days late; 2 of the last 3 accounts lateSize: total assets €52,993lowers riskFounded in 1994Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 70% of them on solvency, 35% on liquidity, 93% on profitability and 83% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 45 days before 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)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00477400.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 31 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 4.4 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Staff
| Item | 31-12-2024 |
|---|---|
| Employees at the balance-sheet date | 2 |
| part-time | 2 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 0.7 |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 1 |
Source: social balance sheet in the 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,014 | - | €15,068 | - |
| Depreciation and write-downs of the year | €1,281 | €1,121 | €1,322 | €1,421 | €4,336 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as MINA: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €43,800 and €59,100, founded between 1989 and 2002.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| MINA Sint-Lambrechts-Woluwe | 1994 | €52,993 | €27,921 | €58,211 | €19,097 | - | 2025 |
| Elce Brasschaat | 1998 | €51,101 | €17,411 | €55,268 | €18,365 | - | 2025 |
| CORTEN Lille | 1990 | €59,060 | -€78,569 | €56,959 | €793 | - | 2025 |
| SFZZ Sint-Niklaas | 1998 | €57,550 | €21,311 | €58,659 | -€638 | - | 2025 |
| BENI - LY Antwerpen | 1990 | €53,386 | €1,837 | €49,832 | -€25,212 | - | 2025 |
| ESPACE SUSHI Etterbeek | 2002 | €53,074 | €44,818 | €57,436 | €694 | 1.9 | 2025 |
| PACIFIQUE Elsene | 1989 | €43,797 | €16,194 | €42,752 | €6,834 | - | 2025 |
They were chosen from the 10,328 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 31,368 companies had the same profile as MINA has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MINA itself is higher: 1.1% within 12 months. It rests on far more data about MINA than the profile alone.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for MINA. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €102,188 | €108,924 | €61,372 | €96,865 | €109,703 | €151,589 | €163,994 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €82,224 | €112,026 | €137,564 | €129,808 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2,530 | €6,576 | €7,257 | €24,876 | €29,742 | ▲ 19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,680 | €1,724 | €1,724 | €1,281 | €1,121 | €1,322 | €1,421 | €4,336 | ▲ 205% |
| Other operating charges640/8 | - | - | - | €4,658 | €2,445 | €3,171 | €3,048 | €2,928 | ▼ 4.0% |
| Gross operating margin9900 | €16,411 | €25,893 | €11,299 | €14,641 | -€2,323 | €14,025 | €34,187 | €58,211 | ▲ 70.3% |
| Operating profit (loss)9901 | €5,208 | €11,302 | €5,937 | €6,172 | -€12,464 | €2,274 | €4,842 | €21,206 | ▲ 338% |
| Financial income75/76B | - | - | - | - | - | - | - | €494 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €494 | - |
| Financial charges65/66B | - | - | - | €1,389 | €1,715 | €2,218 | €2,427 | €2,604 | ▲ 7.3% |
| Recurring financial charges65 | €962 | €1,830 | €1,127 | €1,389 | €1,715 | €2,218 | €2,427 | €2,604 | ▲ 7.3% |
| Profit (loss) for the period before taxes9903 | €4,246 | €9,472 | €4,810 | €4,783 | -€14,179 | €56 | €2,415 | €19,097 | ▲ 691% |
| Income taxes67/77 | €925 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €3,321 | €9,472 | €4,810 | €4,783 | -€14,179 | €56 | €2,415 | €19,097 | ▲ 691% |
| Profit (loss) for the period to be appropriated9905 | €3,321 | €9,472 | €4,810 | €4,783 | -€14,179 | €56 | €2,415 | €19,097 | ▲ 691% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €20,946 | €29,197 | €33,531 | €39,793 | €24,617 | €27,967 | €32,404 | €52,993 | ▲ 63.5% |
| Fixed assets21/28 | €9,285 | €7,561 | €5,838 | €4,557 | €5,450 | €4,128 | €17,776 | €13,440 | ▼ 24.4% |
| Intangible fixed assets21 | - | - | - | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €9,210 | €7,487 | €5,763 | €4,482 | €5,376 | €4,054 | €17,701 | €13,366 | ▼ 24.5% |
| Plant, machinery and equipment23 | - | - | - | €4,482 | €5,376 | €4,054 | €2,732 | €1,410 | ▼ 48.4% |
| Furniture and vehicles24 | - | - | - | - | - | €0 | €14,969 | €11,956 | ▼ 20.1% |
| Financial fixed assets28 | €75 | €75 | €75 | €75 | €75 | €75 | €75 | €75 | = |
| Current assets29/58 | €11,661 | €21,636 | €27,694 | €35,236 | €19,166 | €23,838 | €14,629 | €39,553 | ▲ 170% |
| Stocks and contracts in progress3 | €1,500 | €650 | €540 | €325 | €500 | €1,046 | €1,285 | €1,285 | = |
| Stocks30/36 | - | - | - | €325 | €500 | €1,046 | €1,285 | €1,285 | = |
| Amounts receivable within one year40/41 | €4,711 | €19,531 | €13,294 | €22,674 | €14,993 | €13,319 | €9,911 | €32,684 | ▲ 230% |
| Trade receivables40 | - | - | - | - | - | €0 | €0 | €23,304 | - |
| Other amounts receivable41 | - | - | - | €22,674 | €14,993 | €13,319 | €9,911 | €9,380 | ▼ 5.4% |
| Cash at bank and in hand54/58 | €5,450 | €1,455 | €13,860 | €12,237 | €2,243 | €7,771 | €1,743 | €5,584 | ▲ 220% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,431 | €1,702 | €1,690 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €20,946 | €29,197 | €33,531 | €39,793 | €24,617 | €27,967 | €32,404 | €52,993 | ▲ 63.5% |
| Equity10/15 | €15,158 | €24,631 | €29,440 | €34,223 | €20,044 | €15,101 | €17,515 | €27,921 | ▲ 59.4% |
| Contributions10/11 | €12,395 | €12,395 | - | €12,395 | €12,395 | €7,395 | €7,395 | €7,395 | = |
| Reserves13 | €1,073 | €1,073 | €1,073 | €1,073 | €1,073 | €1,073 | €1,073 | €1,073 | = |
| Non-distributable reserves130/1 | - | - | - | €1,073 | €1,073 | €1,073 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,073 | €1,073 | €1,073 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €1,073 | €1,073 | = |
| Profit (loss) carried forward14 | €1,690 | €11,163 | €15,973 | €20,755 | €6,577 | €6,633 | €9,047 | €19,453 | ▲ 115% |
| Amounts payable17/49 | €5,788 | €4,566 | €4,091 | €5,570 | €4,572 | €12,866 | €14,889 | €25,072 | ▲ 68.4% |
| Amounts payable within one year42/48 | €5,788 | €4,566 | €4,091 | €5,570 | €4,572 | €12,866 | €14,461 | €25,072 | ▲ 73.4% |
| Trade debts44 | €1,080 | €1,994 | €1,265 | €1,813 | €597 | €3,475 | €5,319 | €9,344 | ▲ 75.7% |
| Suppliers440/4 | - | - | - | €1,813 | €597 | €3,475 | €5,319 | €9,344 | ▲ 75.7% |
| Taxes, remuneration and social security45 | - | - | - | €1,258 | €1,475 | €1,891 | €6,642 | €13,228 | ▲ 99.1% |
| Taxes450/3 | - | - | - | €817 | €1,150 | €665 | €0 | €3,089 | - |
| Remuneration and social security454/9 | - | - | - | €440 | €325 | €1,226 | €6,642 | €10,138 | ▲ 52.6% |
| Other amounts payable47/48 | - | - | - | €2,500 | €2,500 | €7,500 | €2,500 | €2,500 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €428 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,321 | €9,472 | €4,810 | €4,783 | -€14,179 | €56 | €2,415 | €19,097 | ▲ 691% |
| + Depreciation and write-downs630 | €2,680 | €1,724 | €1,724 | €1,281 | €1,121 | €1,322 | €1,421 | €4,336 | ▲ 205% |
| Operating cash flow (approximation) | €6,002 | €11,196 | €6,534 | €6,063 | -€13,058 | €1,378 | €3,835 | €23,432 | ▲ 511% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€2,014 | €0 | -€15,068 | €0 | - |
| Change in cash | - | -€3,995 | €12,405 | -€1,623 | -€9,994 | €5,528 | -€6,028 | €3,841 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00477400 | NBB |
| 31-12-2024 | micro format | 25-09-2025 | 2025-00508174 | |
| 31-12-2023 | micro format | 19-04-2024 | 2024-00065195 | |
| 31-12-2022 | micro format | 17-05-2023 | 2023-00088637 | |
| 31-12-2021 | micro format | 05-05-2022 | 2022-20020512 | |
| 31-12-2020 | micro format | 11-05-2021 | 2021-13900177 | |
| 31-12-2019 | micro format | 03-06-2020 | 2020-14300464 | |
| 31-12-2018 | micro format | 19-07-2019 | 2019-34800519 | |
| 31-12-2017 | micro format | 12-03-2018 | 2018-06700153 | |
| 31-12-2016 | full format | 31-05-2017 | 2017-14100054 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| NAGHSH AFKAN MAMAKANI Tohid |
|
Network & group
MINA shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MINA. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
13-10
Gazette deed
Registered office moved to Woluwe-Saint-LambertChange of role: NAGHSH AFKAN MAMAKANI Tohid, from manager to director · Capital conversion · Reserve release9 points ▸
- General meeting, 29-09-2023
- Other provision, “Code des sociétés et des associations, adoption nouvelle forme légale” (deed in French)
- Capital conversion, “article 39,§2,deuxième alinéa,loi du 23 mars, de plein droit” (deed in French)
- Reserve release, “supprimer compte statutairement indisponible, formes et majorités de la modification des statuts” (deed in French)
- Amendment of the articles
- Director resignation, NAGHSH AFKAN MAMAKANI Tohid (manager)
- Director discharge, NAGHSH AFKAN MAMAKANI Tohid (manager)
- Director appointment, NAGHSH AFKAN MAMAKANI Tohid (director)
- Registered-office move, 1200 Woluwe-Saint-Lambert,galerie des Argousiers,1
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21018B0083/00N003 | Brussels | 1,136 m² | 1 · 212 m² | 23.8 m · 6 |