NACEL
ActiveSummary
The computed 12-month bankruptcy probability of NACEL is 2.1% (moderate). The 2024 annual accounts show equity of €61,550 and a net result of €27,443. Equity is growing by ~24.5% per year across the filed fiscal years. Its solvency ranks better than 81% of 18935 sector peers (fiscal year 2024). The company has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+6
Solvency90▲+15
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.06 in 2023; short-term debt: 34.5% and cash: 47.8% of total assets), and 34.5% of the assets are financed with debt.
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Signals
Four 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-08-2025, 30 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
not confirmed
2024
30 d late
2023
31 d late
2022
28 d late
2021
31 d late
2020
31 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 46 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€61,550▲ 80.5%
2023 · €34,107
Total assets
€93,994▲ 37.7%
2023 · €68,265
Net result
€27,443▲ 100%
2023 · €13,699
Working capital
€15,439▲ 693%
2023 · €1,947
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€2,391€19,879€4,690▼ 76.4%€18,945▲ 304%€44,108▲ 133%
Net result-€4,901within the sector's middle half€16,135within the sector's middle half-€249within the sector's middle half€13,699within the sector's middle half€27,443above the sector's middle half▲ 100%
Equity€12,522within the sector's middle half▼ 28.1%€28,657within the sector's middle half▲ 129%€28,408within the sector's middle half▼ 0.9%€34,107within the sector's middle half▲ 20.1%€61,550within the sector's middle half▲ 80.5%
Total assets€48,034within the sector's middle half▲ 62.4%€44,706within the sector's middle half▼ 6.9%€54,253within the sector's middle half▲ 21.4%€68,265within the sector's middle half▲ 25.8%€93,994within the sector's middle half▲ 37.7%
Debt€35,513▲ 192%€16,049▼ 54.8%€25,846▲ 61.0%€34,158▲ 32.2%€32,445▼ 5.0%
Working capital-€4,957within the sector's middle half€10,966within the sector's middle half€14,939within the sector's middle half▲ 36.2%€1,947within the sector's middle half▼ 87.0%€15,439within the sector's middle half▲ 693%
Solvency26.1%within the sector's middle half▼ 32.8pp64.1%above the sector's middle half▲ 38.0pp52.4%within the sector's middle half▼ 11.7pp50.0%within the sector's middle half▼ 2.4pp65.5%above the sector's middle half▲ 15.5pp
Current ratio0.86within the sector's middle half▼ 0.421.68within the sector's middle half▲ 0.821.58within the sector's middle half▼ 0.111.06within the sector's middle half▼ 0.521.48within the sector's middle half▲ 0.42
Return on assets (ROA)-10.2%within the sector's middle half▼ 18.9pp36.1%above the sector's middle half▲ 46.3pp-0.5%within the sector's middle half▼ 36.6pp20.1%above the sector's middle half▲ 20.5pp29.2%above the sector's middle half▲ 9.1pp
Staff (FTE)1.5within the sector's middle half2▲ 33.3%2.2▲ 10.0%2.2=2.6▲ 18.2%
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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 133% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €93,994
Fixed assets
€46,111 ▲ 43.4%
Current assets
€47,884 ▲ 32.6%
Equity and liabilities €93,994
Equity
€61,550 ▲ 80.5%
Debt
€32,445 ▼ 5.0%
Debt's share of the balance-sheet total falls from 50.0% to 34.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€53,996▲
2023 · €26,910
Cash flow
€37,330▲
2023 · €21,665
Debt to equity
0.53▼
2023 · 1.00
ROE
44.6%▲
2023 · 40.2%
Interest coverage
8.74▲
2023 · 7.30
Debt ≤ 1 year
€32,445▼
2023 · €34,158
Income taxes
€10,486▲
2023 · €1,561
Staff costs
€78,724▼
2023 · €108,379
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 31,371 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €45,646 | €89,327 | €108,379 | €78,724 | ▼ 27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,785 | €4,833 | €4,535 | €7,965 | €9,887 | ▲ 24.1% |
| Other operating charges640/8 | - | €694 | €2,719 | €2,557 | €11,583 | ▲ 353% |
| Gross operating margin9900 | €35,467 | €71,052 | €101,272 | €137,846 | €144,303 | ▲ 4.7% |
| Operating profit (loss)9901 | -€2,391 | €19,879 | €4,690 | €18,945 | €44,108 | ▲ 133% |
| Financial charges65/66B | - | €2,138 | €4,042 | €3,685 | €6,180 | ▲ 67.7% |
| Recurring financial charges65 | €2,510 | €2,138 | €4,042 | €3,685 | €6,180 | ▲ 67.7% |
| Profit (loss) for the period before taxes9903 | -€4,901 | €17,742 | €649 | €15,260 | €37,929 | ▲ 149% |
| Income taxes67/77 | - | €1,607 | €897 | €1,561 | €10,486 | ▲ 572% |
| Profit (loss) for the period9904 | -€4,901 | €16,135 | -€249 | €13,699 | €27,443 | ▲ 100% |
| Profit (loss) for the period to be appropriated9905 | -€4,901 | €16,135 | -€249 | €13,699 | €27,443 | ▲ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €48,034 | €44,706 | €54,253 | €68,265 | €93,994 | ▲ 37.7% |
| Fixed assets21/28 | €17,479 | €17,691 | €13,469 | €32,160 | €46,111 | ▲ 43.4% |
| Tangible fixed assets22/27 | €17,379 | €17,592 | €13,370 | €32,061 | €46,012 | ▲ 43.5% |
| Land and buildings22 | - | €15,716 | €11,918 | €8,119 | €23,857 | ▲ 194% |
| Plant, machinery and equipment23 | - | €1,876 | €1,202 | €18,360 | €15,915 | ▼ 13.3% |
| Furniture and vehicles24 | - | - | €251 | €5,582 | €6,240 | ▲ 11.8% |
| Financial fixed assets28 | €99 | €99 | €99 | €99 | €99 | = |
| Current assets29/58 | €30,556 | €27,015 | €40,784 | €36,105 | €47,884 | ▲ 32.6% |
| Stocks and contracts in progress3 | - | €3,887 | €3,662 | €2,437 | - | - |
| Stocks30/36 | - | €3,887 | €3,662 | €2,437 | - | - |
| Amounts receivable within one year40/41 | €26,972 | €2,212 | €1,407 | €2,374 | €1,864 | ▼ 21.5% |
| Trade receivables40 | - | €1,959 | €416 | - | - | - |
| Other amounts receivable41 | - | €253 | €991 | €2,374 | €1,864 | ▼ 21.5% |
| Cash at bank and in hand54/58 | €1,390 | €18,814 | €33,694 | €28,271 | €44,927 | ▲ 58.9% |
| Deferred charges and accrued income490/1 | - | €2,102 | €2,022 | €3,023 | €1,092 | ▼ 63.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €48,034 | €44,706 | €54,253 | €68,265 | €93,994 | ▲ 37.7% |
| Equity10/15 | €12,522 | €28,657 | €28,408 | €34,107 | €61,550 | ▲ 80.5% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Outside capital11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Other1109/19 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Profit (loss) carried forward14 | -€6,070 | €10,065 | €9,816 | €15,515 | €42,958 | ▲ 177% |
| Amounts payable17/49 | €35,513 | €16,049 | €25,846 | €34,158 | €32,445 | ▼ 5.0% |
| Amounts payable within one year42/48 | €35,513 | €16,049 | €25,846 | €34,158 | €32,445 | ▼ 5.0% |
| Trade debts44 | €2,348 | €2,065 | €9,350 | €76 | €434 | ▲ 474% |
| Suppliers440/4 | - | €2,065 | €9,350 | €76 | €434 | ▲ 474% |
| Taxes, remuneration and social security45 | - | €13,105 | €16,495 | €17,486 | €32,011 | ▲ 83.1% |
| Taxes450/3 | - | €8,562 | €6,265 | €3,130 | €17,309 | ▲ 453% |
| Remuneration and social security454/9 | - | €4,543 | €10,230 | €14,356 | €14,702 | ▲ 2.4% |
| Other amounts payable47/48 | - | €879 | - | €16,596 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,901 | €16,135 | -€249 | €13,699 | €27,443 | ▲ 100% |
| + Depreciation and write-downs630 | €3,785 | €4,833 | €4,535 | €7,965 | €9,887 | ▲ 24.1% |
| Operating cash flow (approximation) | -€1,116 | €20,968 | €4,286 | €21,665 | €37,330 | ▲ 72.3% |
| Investment in fixed assets (approximation) | - | -€5,046 | -€313 | -€26,657 | -€23,838 | ▲ 10.6% |
| Change in cash | - | €17,424 | €14,880 | -€5,423 | €16,656 | ▲ 407% |
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
2026
30-04
State Gazette act
Appointment: Aslihan OKYAY (director)Share transfer · Shareholding6 facts ▸
State Gazette act
Appointment: Aslihan OKYAY (director)
Share transfer · Shareholding6 facts ▸
- Share transfer, Nadi OKYAY → Aslihan OKYAY
- Shareholding, 31-10-2024, 282
- Shareholding, 31-10-2024, 375
- Shareholding, 31-10-2024, 93
- Director appointment, Aslihan OKYAY (director)
- Other statement, 31-10-2024
30-04
State Gazette act
Appointment: Dzhanan SHAKIR (director)Share transfer · Shareholding7 facts ▸
State Gazette act
Appointment: Dzhanan SHAKIR (director)
Share transfer · Shareholding7 facts ▸
- Share transfer, Hilmican OKYAY → Dzhanan SHAKIR
- Shareholding, 02-03-2026, 282
- Shareholding, 02-03-2026, 282
- Shareholding, 02-03-2026, 93
- Shareholding, 02-03-2026, 93
- Director appointment, Dzhanan SHAKIR (director)
- Other statement, résolution 3, Néant
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2018net €27,443 ▲100%
Operating result €44,108, net result €27,443, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Back to profitnet €13,699
Net result €13,699 after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €16,135
Net result €16,135 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet -€4,901
Net result drops to -€4,901, the lowest in the series; recovery starts the following year.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
Show earlier events
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 2 have been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Aslihan OKYAY
CurrentDirector · since 31-10-2024
Dzhanan SHAKIR
CurrentDirector · since 02-03-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 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 1992
Ground area
89 m²
Building footprint
90 m²
Volume, LiDAR
1,196 m³
Parcel 21013B0334/00X003, Brussels · tallest building 17.4 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
NACEL
since 19922.059.175.683
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21013B0334/00X003 | Brussels | 89 m² | 1 · 90 m² | 17.4 m · 5 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
2 people since 2024, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| Aslihan OKYAY |
|
| Dzhanan SHAKIR |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Gillis2.059.175.683
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Of 21,853 companies in sector 56112 we hold annual accounts for 9,781. 8,273 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 (pre-2019)
Founded30-09-1992
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448258675
Also
9925:BE0448258675
Registered
19-12-2025
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.