PATEL
ActiveThe computed 12-month bankruptcy probability of PATEL is 2.5% (moderate). The 2025 annual accounts show equity of €20k and a net result of €21k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 10252 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
48
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability52▼-5
Solvency28▲+3
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.94 against 0.92 in 2024; short-term debt: 56.3% and cash: 18.3% of total assets), and 96.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← 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
3.3%
Return on assets
3.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 10252 sector peers (2025).
NBB · sector comparisonPosition among 10252 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 5 filingsDeviation from the deadline
2025
27 d late
2024
50 d early
2023
315 d late
2022
681 d late
2021
92 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€20k
2024 · €-1k
2021: €2k
2022: €-15k
2023: €-51k
2024: €-1k
2021 → 2025
Total assets
€590k▼ 22.6%
2024 · €761k
2021: €160k
2022: €367k
2023: €535k
2024: €761k
2021 → 2025
Net result
€21k▼ 57.6%
2024 · €50k
2021: €-552
2022: €-17k
2023: €-36k
2024: €50k
2021 → 2025
Working capital
€-21k▲ 46.0%
2024 · €-38k
2021: €97k
2022: €41k
2023: €-14k
2024: €-38k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2k-€-15k€-51k▼ 250%€-1k▲ 97.3%€20k
Operating result€-200-€-9k▼ 4,258%€-9k▼ 5.7%€76k€46k▼ 39.7%
Net result€-552-€-17k▼ 2,990%€-36k▼ 114%€50k€21k▼ 57.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €590k
Fixed assets
€278k▼ 6.3%
Current assets
€311k▼ 33.0%
Equity and liabilities €590k
Equity
€20k
Debt
€570k
Debt finances 96.7% of the balance-sheet total.
Key figures and ratios
EBITDA
€69k▼
2024 · €100k
Cash flow
€44k▼
2024 · €73k
Solvency
3.3%▲
2024 · -0.2%
Current ratio
0.94▲
2024 · 0.92
Quick ratio
0.72▲
2024 · 0.70
Debt / equity
28.99
ROE
107.1%
ROA
3.6%▼
2024 · 6.5%
Interest coverage
3.46▼
2024 · 3.62
Debt
€570k▼
2024 · €763k
Debt ≤ 1 year
€332k▼
2024 · €503k
Debt > 1 year
€238k▼
2024 · €260k
Income taxes
€5k▲
2024 · €205
Staff costs
€36k▲
2024 · €28k
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 2024
Balance sheet
Code20242025
Assets
Total assets20/58€761k€590k▼
Fixed assets21/28€297k€278k▼
Tangible fixed assets22/27€297k€278k▼
Land and buildings22€256k€247k▼
Plant, machinery and equipment23€28k€20k▼
Furniture and vehicles24€9k€9k▲
Leasing and similar rights25€4k€3k▼
Current assets29/58€465k€311k▼
Stocks and contracts in progress3€115k€71k▼
Stocks30/36€115k€71k▼
Amounts receivable within one year40/41€264k€132k▼
Trade receivables40€243k€112k▼
Other amounts receivable41€21k€20k▼
Cash at bank and in hand54/58€85k€108k▲
Deferred charges and accrued income490/1€838€543▼
Equity and liabilities
Total equity and liabilities10/49€761k€590k▼
Equity10/15€-1k€20k▲
Contributions10/11€3k€3k=
Profit (loss) carried forward14€-4k€17k▲
Amounts payable17/49€763k€570k▼
Amounts payable after more than one year17€260k€238k▼
Financial debts170/4€260k€238k▼
Amounts payable within one year42/48€503k€332k▼
Current portion of amounts payable after more than one year42€29k€16k▼
Financial debts43€125k€80k▼
Credit institutions430/8€125k€80k▼
Trade debts44€254k€175k▼
Suppliers440/4€254k€175k▼
Taxes, remuneration and social security45€95k€61k▼
Taxes450/3€43k€14k▼
Remuneration and social security454/9€52k€47k▼
Income statement
Code20242025
Non-recurring operating income76A-€300
Remuneration, social security and pensions62€28k€36k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€23k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€3k
Other operating charges640/8€11k€5k▼
Non-recurring operating charges66A€1k€3k▲
Gross operating margin9900€140k€117k▼
Operating profit (loss)9901€76k€46k▼
Financial income75/76B€1k€360▼
Recurring financial income75€1k€360▼
Financial charges65/66B€28k€20k▼
Recurring financial charges65€28k€20k▼
Profit (loss) for the period before taxes9903€50k€26k▼
Income taxes67/77€205€5k▲
Profit (loss) for the period9904€50k€21k▼
Profit (loss) for the period to be appropriated9905€50k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-4k€17k▲
Profit (loss) brought forward from the previous period14P€-54k€-4k▲
Social balance
Average headcount (FTE)9087-1.0
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 315 days late
11-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 681 days late
2024
31-12
Financial
Back to profitnet €50k
Net result €50k after 3 loss-making years.
2023
31-12
Financial
Weakest financial yearnet €-36k
Net result drops to €-36k, the lowest in the series; recovery starts the following year.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Schaarbeek · 1 establishment unit since 2023
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.
Leuvensesteenweg 631-6331030 SchaarbeekGround area
432 m²
Building footprint
247 m²
Volume, LiDAR
2,970 m³
Parcel 21904B0421/00R003, Brussels · tallest building 18.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Indianspices Brussels
since 20232.346.800.578
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21904B0421/00R003 | Brussels | 432 m² | 1 · 247 m² | 18.1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSchaarbeek2.346.800.578
Similar companies · same sector, comparable size
O.N.S.
BE 0470.409.814
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FOODART PASSION
BE 0673.605.612
Charleroi · Eq €19k
S.RA
BE 0552.601.179
Sint-Jans-Molenbeek · Eq €20k
MJ2 BEAUTY WORLD
BE 0636.857.854
Liège · Eq €21k
BELTOLIA
BE 0774.320.910
Sint-Jans-Molenbeek · Eq €19k
Of 1,428 companies in sector 46389 we hold annual accounts for 855. 409 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-03-2021
Fiscal year end31-12
Activities, NACEBEL
46389Wholesale of other food products
47279Other retail sale of food
47299Retail trade
10850Manufacture of food products
10890Manufacture of food products
47110Non-specialised retail sale with food, beverages or tobacco predominating
47111Retail trade
47210Retail sale of fruit and vegetables
47251Retail sale of wines and spirits
47553Retail trade
47559Retail sale of other household articles
47593Retail trade
47599Retail trade
47750Retail sale of cosmetics and toilet articles
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:indianspices.be@gmail.com
Phone:465882189