N. START

Active

Private limited companyfounded 200818 yrs activeKoninginnelaan 149, 1030 Schaarbeek, BelgiumKBO/BCE: BE 0898.049.358

The computed 12-month bankruptcy probability of N. START is 2.3% (moderate). The 2025 annual accounts show equity of €37k and a net result of €3k. Equity is growing by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 55% of 13009 sector peers (fiscal year 2025). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

49 / 100

Fair▼ -15 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability34▲+33

Solvency48▼-15

Growth78▲+26

Stability100

Bankruptcy probability, 12 months

2.3% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €2k at 30 days acceptable

Liquidity short (current ratio 0.58 against 1.28 in 2023), and 63.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

36.5%

Return on assets

2.5%

Age of the figures

8 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-06-2026, 32 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

32 d early

2023

30 d early

2022

28 d early

2021

34 d early

2020

24 d early

2019

2 d early

2018

21 d late

← before the deadline after the deadline →

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 months

Position in the running window

12-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€37k▼ 11.6%

2023 · €42k

2018: €6k 2019: €21k 2020: €27k 2021: €40k 2022: €42k 2023: €42k

2018 → 2025

Total assets

€103k▼ 11.1%

2023 · €115k

2018: €124k 2019: €115k 2020: €118k 2021: €121k 2022: €124k 2023: €115k

2018 → 2025

Net result

€3k▲ 3,660%

2023 · €68

2018: €382 2019: €13k 2020: €-1 2021: €14k 2022: €2k 2023: €68

2018 → 2025

Working capital

€-6k

2023 · €3k

2018: €-22k 2019: €-9k 2020: €-5k 2021: €4k 2022: €5k 2023: €3k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232025Trend

Equity€27k-€40k▲ 50.5%€42k▲ 5.0%€42k▲ 0.2%€37k▼ 11.6%

Operating result€2k-€16k▲ 606%€4k▼ 72.3%€3k▼ 37.0%€6k▲ 103%

Net result€-1-€14k€2k▼ 85.2%€68▼ 96.6%€3k▲ 3,660%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result recovers in 2025; 2025 is 103% above 2023.

Balance-sheet composition

2025 in colour, 2023 as the grey bar beneath

Assets €103k

92.1%

Fixed assets €94k▼ 6.6%

Current assets €8k▼ 43.2%

Equity and liabilities €103k

36.5%

63.5%

Equity €37k▼ 11.6%

Debt €65k▼ 10.8%

The debt ratio rises from 63.3% to 63.5%: equity shrinks faster than debt is paid down.

Key figures and ratios

2025 value · change against 2023

EBITDA

€9k▲

2023 · €7k

Cash flow

€6k▲

2023 · €4k

Solvency

36.5%▼

2023 · 36.7%

Current ratio

0.58▼

2023 · 1.28

Quick ratio

0.54▼

2023 · 1.00

Debt / equity

1.74▲

2023 · 1.73

ROE

6.8%▲

2023 · 0.2%

ROA

2.5%▲

2023 · 0.1%

Interest coverage

2.83▲

2023 · 2.49

Debt

€65k▼

2023 · €73k

Debt ≤ 1 year

€14k▲

2023 · €11k

Debt > 1 year

€51k▼

2023 · €62k

Staff costs

€26k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2023

Balance sheet Code20232025

Assets

Total assets20/58€115k€103k▼

Fixed assets21/28€101k€94k▼

Tangible fixed assets22/27€101k€94k▼

Land and buildings22€100k€94k▼

Plant, machinery and equipment23€357-

Financial fixed assets28€363€363=

Current assets29/58€14k€8k▼

Stocks and contracts in progress3€3k€580▼

Stocks30/36€3k€580▼

Amounts receivable within one year40/41€8k€66▼

Trade receivables40€3k-

Other amounts receivable41€5k€66▼

Cash at bank and in hand54/58€3k€7k▲

Deferred charges and accrued income490/1-€961

Equity and liabilities

Total equity and liabilities10/49€115k€103k▼

Equity10/15€42k€37k▼

Contributions10/11€19k€19k=

Reserves13€660€660=

Non-distributable reserves130/1€660€660=

Reserves not available under the articles1311€660€660=

Profit (loss) carried forward14€23k€18k▼

Amounts payable17/49€73k€65k▼

Amounts payable after more than one year17€62k€51k▼

Financial debts170/4€62k€51k▼

Amounts payable within one year42/48€11k€14k▲

Current portion of amounts payable after more than one year42€6k€5k▼

Trade debts44€4k€703▼

Suppliers440/4€4k€703▼

Taxes, remuneration and social security45€2k€8k▲

Taxes450/3€2k€4k▲

Remuneration and social security454/9-€4k

Income statement Code20232025

Remuneration, social security and pensions62-€26k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€3k▼

Other operating charges640/8€4k€5k▲

Gross operating margin9900€11k€40k▲

Operating profit (loss)9901€3k€6k▲

Financial charges65/66B€3k€3k▲

Recurring financial charges65€3k€3k▲

Profit (loss) for the period before taxes9903€68€3k▲

Profit (loss) for the period9904€68€3k▲

Profit (loss) for the period to be appropriated9905€68€3k▲

Appropriation of the result

Profit (loss) to be appropriated9906€23k€18k▼

Profit (loss) brought forward from the previous period14P€23k€16k▼

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

29-06

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2024

01-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

03-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

27-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Back to profitnet €14k

Net result €14k after one loss-making year.

31-12

Financial Liquidity doublescurrent ratio 1.48

Current ratio from 0.61 to 1.48; short-term debt falls from €13k to €8k.

07-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

31-12

Financial Weakest financial yearnet €-1 ▼100%

Net result drops to €-1, the lowest in the series; recovery starts the following year.

29-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

21-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 21 days late

2018

03-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 34 days late

2017

20-09

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 51 days late

2016

29-08

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 29 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

2 directors, no change since 2022

OZCAN Ceylan

Director · since 01-11-2022

Current

01-11-2022 OZCAN Ceylan: Appointed as Director

31-10-2022 OZCAN Unal: Resigned as Director

01-04-2022 OZCAN Unal: Appointed as Director

31-03-2022 OZCAN Ceylan: Resigned as Director

Location & real-estate footprint

Registered office, Schaarbeek · 1 establishment unit since 2008

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Koninginnelaan 1491030 Schaarbeek

Ground area

82 m²

Building footprint

83 m²

Volume, LiDAR

1,180 m³

Parcel 21910E0071/00V013, Brussels · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.

1 establishment unit

Chez Ceylan

Koninginnelaan 149, 1030 SchaarbeekFood and beverage service activities

since 20082.172.482.076

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21910E0071/00V013	Brussels	82 m²	1 · 83 m²	16.8 m · 5 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Maasmechelen · Eq €37k

Of 21,636 companies in sector 56112 we hold annual accounts for 9,660. 8,345 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded21-05-2008

Fiscal year end31-12

Activities, NACEBEL

56102Limited-service restaurants

56112Limited-service restaurants, excluding mobile food services

56301Cafés and bars

Sources

Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers

Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.