Equity
-€19,478
Debts exceed assets in financial year 2025.
MODASER
Lifetime
1 annual account with figurespeak €15,356 (2025)
€15,356
lowest -€19,478 (2025)
-€19,478
peak -€19,478 (2025)
-€19,478
€39,433
Board1 name since 2024
1 directorALIKHEL Baryalai
Documentsfilings and deeds
20-07-202611 days before the deadline
2025micro format
Loss of €19,478First year with figures
Key points
from the 2025 annual accountsDebts
€39,433 198% of the balance sheet
Suppliers 2%Taxes and wages 5%Other 93%
Position in the sector
-97.6%
Lower solvency than 95% of companies in land transport. Sector median 37.7% · 5,946 companies.
Checked score
34
Weak
Financially stronger than 6% of micro companies in land transport (NACE 49)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
5.2% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 9,097 companies (NACE 49, micro).
About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
10-2025: 3.6%lowest value
11-2025: 3.6%● unchanged vs 10-2025lowest value
12-2025: 3.8%▲ +0.2 percentage points vs 11-2025
01-2026: 4.1%▲ +0.3 percentage points vs 12-2025
02-2026: 4.2%▲ +0.1 percentage points vs 01-2026
03-2026: 4.6%▲ +0.4 percentage points vs 02-2026
04-2026: 5.0%▲ +0.4 percentage points vs 03-2026
05-2026: 5.0%● unchanged vs 04-2026
06-2026: 4.8%▼ -0.2 percentage points vs 05-2026
07-2026: 4.8%● unchanged vs 06-2026
08-2026: 5.1%▲ +0.3 percentage points vs 07-2026
09-2026: 5.2%▲ +0.1 percentage points vs 08-2026
10-2026: 5.2%● unchanged vs 09-2026highest value
11-2026: 5.2%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Founded in 2024
Sector: Land transport and transport via pipelines (NACE 49)
Negative equity -€19,478
Loss of €19,478 (financial year 2025)
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 49, micro). It does better than 5% of them on solvency, 9% on liquidity and 6% on profitability.
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 elevated class on 30-06-2025, 6.3% 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, 7,639 companies had the same profile as MODASER has now. Each dot stands for 20 companies, two years later.
84.7%
were still trading
5.6%
stopped another way
8.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MODASER itself: 5.2% 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 7,639 companies, not a prediction for MODASER. 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 0.08, below 1. Short-term debt is 197.6% and cash 7.1% 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.
raises riskneutral
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 20-07-2026, 11 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
11 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1013698894
Incorporation
Founding capital of €1,500, 100 shares · Founder: ALIKHEL Baryalai · Appointment: ALIKHEL Baryalai (director) · published on 19-09-2024 · Gazette deed
First establishment
Smaragdstraat 18, Ghent
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MODASER Ghent | €19,955 | €15,356 | -97.6% | - |
| BMA BUSINESS Willebroek | €19,572 | €15,057 | 78.1% | - |
| SMB GROUP Anderlecht | €21,256 | €17,505 | 69.0% | - |
| A&N BUSINESS CO Wemmel | €18,080 | €14,818 | 68.8% | - |
| CTNRs Kontich | €21,347 | €13,286 | 7.0% | - |
| ALPINAX Anderlecht | €21,916 | €15,094 | 53.5% | - |
| MOBILITY SOFT Molenbeek-Saint-Jean | €21,177 | €12,822 | 37.1% | - |
These companies have the same main activity as MODASER: on-demand passenger transport by chauffeured vehicle (NACE 49330). They are comparable in size and age: total assets between €18,100 and €21,900, founded between 2024 and 2025.
Official details
Source: KBO- Status
- Active since 17-09-2024Normal situation
- Activity
- On-demand passenger transport by chauffeured vehicleNACE 49330
- Establishment unit
- 2.363.694.8129000 Ghent, since 17-09-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 17-12-2025
Annual accounts 2025
- ≈ €85,000estimated
- €19,955
- Employeeson 31-12-2025
- 0
- Filing
- Filed on 20-07-2026, 11 days before the end of the filing period
Insights on MODASER
The computed 12-month bankruptcy probability of MODASER is 5.2% (elevated). The 2025 annual accounts show negative equity (-€19,478) and a net result of -€19,478.
Its solvency ranks better than 5% of 5,946 sector peers (NACE 49, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
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 MODASER
- What is the company number of MODASER?
- The company number of MODASER is 1013.698.894. The VAT number is the same number with BE in front: BE 1013.698.894.
- Where is MODASER based?
- The registered office is at Smaragdstraat 18, 9000 Ghent.Company details
- What does MODASER do?
- According to the KBO register, the main activity is on-demand passenger transport by chauffeured vehicle (NACE 49330).
- What is the legal form of MODASER?
- MODASER is a private limited company (BV).
- When was MODASER founded?
- MODASER was founded on 17-09-2024.
- Is MODASER still active?
- Yes, MODASER is an active enterprise in the KBO register.
- What is the turnover of MODASER?
- The turnover in financial year 2025 is ≈ €85,000. This figure is estimated from the gross margin of €15,356 and 136 comparable companies (NACE 49330). It probably lies between €53,000 and €140,000. It is a rough estimate.Financials
- Is MODASER profitable?
- In financial year 2025, MODASER made a loss of €19,478.
- Where can I find the annual accounts of MODASER?
- MODASER filed 1 annual account with the National Bank of Belgium, for financial year 2025.
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