NAD
ActiveSummary
The computed 12-month bankruptcy probability of NAD is 1.7% (moderate). The 2025 annual accounts show equity of €106k and a net result of €5k. Equity is growing by ~26.7% per year across the filed fiscal years. Its solvency ranks better than 35% of 3705 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-2
Solvency40▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.93 in 2024; short-term debt: 9.7% and cash: 6.2% of total assets), and 84.6% of the assets are financed with debt.
Credit check for your own amount and term
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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
15.4%
Return on assets
0.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-08-2026, 2 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
2 d late
2024
16 d late
2023
22 d late
2022
58 d late
2021
31 d late
2020
41 d late
2019
88 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€5k▼ 45.0%
2024 · €9k
2018: €-7k
2019: €20k▲ +390% vs 2018
2020: €-9k▼ -145% vs 2019lowest in 8 years
2021: €36k▲ +496% vs 2020highest in 8 years
2022: €-492▼ -101% vs 2021
2023: €36k▲ +7397% vs 2022
2024: €9k▼ -74.7% vs 2023
2025: €5k▼ -45.0% vs 2024
2018 → 2025
Working capital
€-13k▼ 182%
2024 · €-5k
2018: €7k
2019: €35k▲ +419% vs 2018
2020: €28k▼ -19.4% vs 2019
2021: €57k▲ +102% vs 2020highest in 8 years
2022: €2k▼ -96.2% vs 2021
2023: €36k▲ +1580% vs 2022
2024: €-5k▼ -113% vs 2023
2025: €-13k▼ -182% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€57k-€56k▼ 0.9%€92k▲ 63.9%€101k▲ 9.9%€106k▲ 4.9%
2021: €57k
2022: €56k▼ -0.9% vs 2021lowest in 5 years
2023: €92k▲ +63.9% vs 2022
2024: €101k▲ +9.9% vs 2023
2025: €106k▲ +4.9% vs 2024highest in 5 years
Operating result€46k-€20k▼ 56.0%€57k▲ 182%€31k▼ 46.7%€26k▼ 14.6%
2021: €46k
2022: €20k▼ -56.0% vs 2021lowest in 5 years
2023: €57k▲ +182% vs 2022highest in 5 years
2024: €31k▼ -46.7% vs 2023
2025: €26k▼ -14.6% vs 2024
Net result€36k-€-492€36k€9k▼ 74.7%€5k▼ 45.0%
2021: €36khighest in 5 years
2022: €-492▼ -101% vs 2021lowest in 5 years
2023: €36k▲ +7397% vs 2022
2024: €9k▼ -74.7% vs 2023
2025: €5k▼ -45.0% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €691k
Fixed assets
€637k ▲ 26.9%
Current assets
€54k ▼ 20.1%
Equity and liabilities €691k
Equity
€106k ▲ 4.9%
Debt
€585k ▲ 24.9%
Debt's share of the balance-sheet total rises from 82.2% to 84.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€61k▲
2024 · €59k
Cash flow
€39k▲
2024 · €37k
Current ratio
0.80▼
2024 · 0.93
Quick ratio
0.69▼
2024 · 0.83
Debt to equity
5.51▲
2024 · 4.63
ROE
4.7%▼
2024 · 9.0%
ROA
0.7%▼
2024 · 1.6%
Interest coverage
3.69▼
2024 · 3.72
Debt ≤ 1 year
€67k▼
2024 · €72k
Debt > 1 year
€518k▲
2024 · €393k
Income taxes
€5k▼
2024 · €6k
Staff costs
€55k▲
2024 · €50k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€570k€691k▲
Fixed assets21/28€502k€637k▲
Tangible fixed assets22/27€500k€635k▲
Land and buildings22€458k€604k▲
Plant, machinery and equipment23€16k€11k▼
Furniture and vehicles24€26k€20k▼
Financial fixed assets28€3k€3k=
Current assets29/58€67k€54k▼
Stocks and contracts in progress3€8k€7k▼
Stocks30/36€8k€7k▼
Amounts receivable within one year40/41€11k€1k▼
Other amounts receivable41€11k€1k▼
Cash at bank and in hand54/58€46k€43k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€570k€691k▲
Equity10/15€101k€106k▲
Contributions10/11€8k€8k=
Reserves13€93k€98k▲
Distributable reserves133€93k€98k▲
Amounts payable17/49€468k€585k▲
Amounts payable after more than one year17€393k€518k▲
Financial debts170/4€393k€518k▲
Amounts payable within one year42/48€72k€67k▼
Current portion of amounts payable after more than one year42€19k€26k▲
Trade debts44€32k€13k▼
Suppliers440/4€32k€13k▼
Taxes, remuneration and social security45€19k€27k▲
Taxes450/3€11k€17k▲
Remuneration and social security454/9€8k€10k▲
Other amounts payable47/48€2k€1k▼
Accrued charges and deferred income492/3€4k€323▼
Income statement
Code20242025
Non-recurring operating income76A-€3k
Remuneration, social security and pensions62€50k€55k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€28k€34k▲
Other operating charges640/8€28k€27k▼
Gross operating margin9900€137k€143k▲
Operating profit (loss)9901€31k€26k▼
Financial income75/76B€106€530▲
Recurring financial income75€106€530▲
Financial charges65/66B€16k€16k▲
Recurring financial charges65€16k€16k▲
Profit (loss) for the period before taxes9903€15k€10k▼
Income taxes67/77€6k€5k▼
Profit (loss) for the period9904€9k€5k▼
Profit (loss) for the period to be appropriated9905€9k€5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€9k€5k▼
Transfer to equity691/2€9k€5k▼
To other reserves6921€9k€5k▼
Social balance
Average headcount (FTE)90871.81.8=
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3k | - |
| Remuneration, social security and pensions62 | €19k | €35k | €35k | €50k | €55k | ▲ 9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €15k | €17k | €28k | €34k | ▲ 21.9% |
| Other operating charges640/8 | €10k | €52k | €2k | €28k | €27k | ▼ 2.3% |
| Non-recurring operating charges66A | €421 | €211 | €2k | - | - | - |
| Gross operating margin9900 | €81k | €122k | €114k | €137k | €143k | ▲ 4.4% |
| Operating profit (loss)9901 | €46k | €20k | €57k | €31k | €26k | ▼ 14.6% |
| Financial income75/76B | €63 | €4 | €66 | €106 | €530 | ▲ 400% |
| Recurring financial income75 | €63 | €4 | €66 | €106 | €530 | ▲ 400% |
| Financial charges65/66B | €2k | €18k | €10k | €16k | €16k | ▲ 4.0% |
| Recurring financial charges65 | €2k | €8k | €10k | €16k | €16k | ▲ 4.0% |
| Non-recurring financial charges66B | - | €10k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €44k | €2k | €47k | €15k | €10k | ▼ 31.4% |
| Income taxes67/77 | €8k | €3k | €11k | €6k | €5k | ▼ 10.0% |
| Profit (loss) for the period9904 | €36k | €-492 | €36k | €9k | €5k | ▼ 45.0% |
| Profit (loss) for the period to be appropriated9905 | €36k | €-492 | €36k | €9k | €5k | ▼ 45.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €95k | €376k | €399k | €570k | €691k | ▲ 21.3% |
| Fixed assets21/28 | €9k | €322k | €315k | €502k | €637k | ▲ 26.9% |
| Tangible fixed assets22/27 | €7k | €320k | €312k | €500k | €635k | ▲ 27.1% |
| Land and buildings22 | - | €291k | €286k | €458k | €604k | ▲ 31.9% |
| Plant, machinery and equipment23 | €2k | €24k | €23k | €16k | €11k | ▼ 29.6% |
| Furniture and vehicles24 | €3k | €4k | €3k | €26k | €20k | ▼ 23.3% |
| Other tangible fixed assets26 | €1k | - | - | - | - | - |
| Financial fixed assets28 | €2k | €2k | €3k | €3k | €3k | = |
| Current assets29/58 | €86k | €54k | €84k | €67k | €54k | ▼ 20.1% |
| Stocks and contracts in progress3 | €3k | €6k | €5k | €8k | €7k | ▼ 1.5% |
| Stocks30/36 | €3k | €6k | €5k | €8k | €7k | ▼ 1.5% |
| Amounts receivable within one year40/41 | - | €4k | €19k | €11k | €1k | ▼ 90.3% |
| Trade receivables40 | - | €4k | €19k | - | - | - |
| Other amounts receivable41 | - | - | - | €11k | €1k | ▼ 90.3% |
| Cash at bank and in hand54/58 | €80k | €42k | €54k | €46k | €43k | ▼ 7.0% |
| Deferred charges and accrued income490/1 | €2k | €3k | €6k | €3k | €2k | ▼ 19.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €95k | €376k | €399k | €570k | €691k | ▲ 21.3% |
| Equity10/15 | €57k | €56k | €92k | €101k | €106k | ▲ 4.9% |
| Contributions10/11 | €6k | €6k | €8k | €8k | €8k | = |
| Capital10 | €6k | €6k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Uncalled capital101 | €12k | €12k | - | - | - | - |
| Reserves13 | €51k | €50k | €84k | €93k | €98k | ▲ 5.4% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €49k | €48k | €84k | €93k | €98k | ▲ 5.4% |
| Amounts payable17/49 | €38k | €320k | €306k | €468k | €585k | ▲ 24.9% |
| Amounts payable after more than one year17 | - | €267k | €255k | €393k | €518k | ▲ 31.8% |
| Financial debts170/4 | - | €267k | €255k | €393k | €518k | ▲ 31.8% |
| Amounts payable within one year42/48 | €28k | €52k | €48k | €72k | €67k | ▼ 6.8% |
| Current portion of amounts payable after more than one year42 | - | €13k | €13k | €19k | €26k | ▲ 32.8% |
| Trade debts44 | €1k | €9k | €16k | €32k | €13k | ▼ 59.0% |
| Suppliers440/4 | €1k | €9k | €16k | €32k | €13k | ▼ 59.0% |
| Taxes, remuneration and social security45 | €22k | €29k | €18k | €19k | €27k | ▲ 40.0% |
| Taxes450/3 | €15k | €21k | €12k | €11k | €17k | ▲ 52.8% |
| Remuneration and social security454/9 | €7k | €8k | €6k | €8k | €10k | ▲ 23.4% |
| Other amounts payable47/48 | €5k | €2k | €424 | €2k | €1k | ▼ 21.6% |
| Accrued charges and deferred income492/3 | €10k | €327 | €4k | €4k | €323 | ▼ 91.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36k | €-492 | €36k | €9k | €5k | ▼ 45.0% |
| + Depreciation and write-downs630 | €5k | €15k | €17k | €28k | €34k | ▲ 21.9% |
| Operating cash flow (approximation) | €41k | €15k | €53k | €37k | €39k | ▲ 5.6% |
| Investment in fixed assets (approximation) | - | €-328k | €-10k | €-216k | €-170k | ▲ 21.4% |
| Change in cash | - | €-38k | €12k | €-8k | €-3k | ▲ 60.6% |
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
02-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 2 days late
2025
16-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 16 days late
2024
31-12
Financial
Equity above €100kEq €101k ▲9.9%
2 profitable years in a row build equity to €101k.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 22 days late
2023
31-12
Financial
Back to profitnet €36k
Net result €36k after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 58 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Back to profitnet €36k
Net result €36k after one loss-making year.
10-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 41 days late
2020
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series; recovery starts the following year.
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 88 days late
2019
31-12
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
Show earlier events
31-12
Financial
Liquidity triplescurrent ratio 3.02
Current ratio from 1.20 to 3.02; short-term debt falls from €34k to €17k.
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 57 days late
2018
12-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 43 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Hensies · 1 establishment unit since 2016
Ground area
138 m²
Building footprint
97 m²
Volume, LiDAR
741 m³
Parcel 53033A0676/00B000, Wallonia · tallest building 9.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
NAD
since 20162.259.296.581
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53033A0676/00B000 | Wallonia | 138 m² | 1 · 97 m² | 9.5 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHensies2.259.296.581
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 9,503 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
Founded15-03-2016
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.