Turnover
≈ €440,000 estimated
The micro format states no turnover.
NATALE
Lifetime
20 annual accounts with figures on one time axis, 21 filings since 2005peak €141,778 (2025)
€141,778▲ 17.6%
lowest -€23,418 (2007)
€716▼ 96.4%
peak €33,461 (2025)
€33,461▲ 2.2%
€178,304▼ 5.3%
peak 3.5 FTE (2014)
-not published
Board2 names since 2021
2 directorsRoberto Mandaglio and 1 other
Documentsfilings and deeds
18-08-202618 days late
2025micro format
Gross margin from €120,530 to €141,778Result from €19,682 to €716Cash from €37,388 to €15,766
Key points
from the 2025 annual accountsDebts
€178,304 84% of the balance sheet
Financial debts 49%Suppliers 12%Taxes and wages 16%Other 23%
Of this, €90,791 falls due within a year.
Staff
3 employees on 31-12-2025
In 2025, 127 short contracts started and 127 ended, on average 26 hours worked per contract. Staff averaged 3 full-time equivalents.
2025 accounts filed 18 days after the deadline
Checked score
66
Healthy
Financially stronger than 36% of micro companies in food and beverage service (NACE 56)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 23,791 companies (NACE 56, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.7%
01-2025: 0.7%● unchanged vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.7%● unchanged vs 02-2025
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.9%▲ +0.2 percentage points vs 06-2025
08-2025: 0.5%▼ -0.4 percentage points vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.6%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%▼ -0.1 percentage points vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026lowest value
07-2026: 0.6%▲ +0.1 percentage points vs 06-2026
08-2026: 1.0%▲ +0.4 percentage points vs 07-2026highest value
09-2026: 0.9%▼ -0.1 percentage points vs 08-2026
10-2026: 0.9%● unchanged vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Food and beverage service activities (NACE 56)
Equity €33,461 (15.8% of total assets)
Liquidity: current ratio 0.65, cash €15,766, halved
lowers risk
Founded in 2004
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 38% of them on solvency, 33% on liquidity, 29% on profitability and 45% on growth.
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 low class on 30-06-2025, 0.8% 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, 3,984 companies had the same profile as NATALE has now. Each dot stands for 10 companies, two years later.
96.5%
were still trading
2.3%
stopped another way
1.1%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NATALE itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,448 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 3,984 companies, not a prediction for NATALE. 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
Credit of up to €2,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.65 (0.77 in 2024), below 1. Short-term debt is 42.9% and cash 7.4% of total assets. 84.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €33,461
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
18 days late
2024
30 days early
2023
48 days early
2022
35 days early
2021
26 days early
2020
33 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 26 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)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0869628952
Reappointments: Roberto Mandaglio (director) and Sonia Vazquez Menendez (director)
General meeting of 13-11-2023 · Gazette deed
First establishment
RISTRETTO, Luitenant Lippenslaan 14, Antwerp
Incorporation
published on 04-11-2004 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| NATALE Antwerp | €211,764 | €141,778 | 15.8% | - |
| WIJNEGEM ICE CREAM Wijnegem | €208,892 | €127,508 | 33.2% | - |
| SHANIS Antwerp | €203,642 | €135,157 | 54.6% | - |
| LEDOUX Nieuwpoort | €205,611 | €146,593 | 9.6% | - |
| YI FAN Rixensart | €219,231 | €148,357 | 55.4% | 3.7 |
| USI-DISCOUNT Fosses-la-Ville | €203,682 | €135,568 | 65.9% | - |
| HK KONINGSLO Brussels | €217,767 | €131,619 | 67.9% | - |
These companies have the same main activity as NATALE: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €204,000 and €219,000, founded between 2001 and 2005.
Official details
Source: KBO- Status
- Active since 25-10-2004Normal situation
- Activity
- Limited-service restaurants, excluding mobile food servicesNACE 56112and 2 others
- Joint committee
- 302Hotels and catering · annual accounts 2022
- Establishment unit
- 2.144.985.5462140 Antwerp, since 01-02-2005
- Financial year end
- 31 December
- Peppol
- Reachable since 26-01-2026
Insights on NATALE
NATALE files the micro format. That format states no turnover. The gross margin rose from €14,889 in 2006 to €141,778 in 2025.
The balance sheet grew most in 2011 through fixed assets.
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 NATALE
- What is the company number of NATALE?
- The company number of NATALE is 0869.628.952. The VAT number is the same number with BE in front: BE 0869.628.952.
- Where is NATALE based?
- The registered office is at Luitenant Lippenslaan 14, 2140 Antwerp.Company details
- What does NATALE do?
- According to the KBO register, the main activity is limited-service restaurants, excluding mobile food services (NACE 56112).
- What is the legal form of NATALE?
- NATALE is a private limited company (BV).
- When was NATALE founded?
- NATALE was founded on 25-10-2004.
- Is NATALE still active?
- Yes, NATALE is an active enterprise in the KBO register.
- How many employees does NATALE have?
- NATALE had an average of 3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does NATALE fall under?
- In its 2022 annual accounts, NATALE states joint committee 302 (Hotels and catering).
- What is the turnover of NATALE?
- The turnover in financial year 2025 is ≈ €440,000. This figure is estimated from the gross margin of €141,778 and 79 comparable companies (NACE 56112). It probably lies between €320,000 and €540,000.
- Is NATALE profitable?
- In financial year 2025, NATALE made a profit of €716.
- Where can I find the annual accounts of NATALE?
- NATALE filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of NATALE due?
- NATALE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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