phagwara
ActiveThe computed 12-month bankruptcy probability of phagwara is 2.1% (moderate). The annual accounts of phagwara for fiscal year 2025 show a net loss of 94% of the equity at the start of that year. The 2025 annual accounts show equity of €736 and a net result of €-11k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 18237 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
31
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-100
Solvency27▼-36
Growth85=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.02 against 1.68 in 2024; short-term debt: 97.6% and cash: 22.1% of total assets), and 97.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
2.4%
Return on assets
-36.2%
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 24% of 18237 sector peers (2025).
NBB · sector comparisonPosition among 18237 sector peers
Solvency
better than 24%
← 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 24-08-2026, 24 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 · 9 filingsDeviation from the deadline
2025
24 d late
2024
39 d late
2023
72 d late
2022
2 d late
2021
12 d late
2020
45 d late
2019
66 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€302k▲ 57.3%
2021 · €192k
2021: €192k
2021 → 2022
EBIT margin
-3.7%▼ 4.8pp
2021 · 1.1%
2021: 1.1%
2021 → 2022
Net result
€-11k
2024 · €10k
2018: €-24k
2019: €4k
2020: €2k
2021: €2k
2022: €-13k
2023: €12k
2024: €10k
2018 → 2025
Working capital
€551▼ 95.6%
2024 · €12k
2018: €-18k
2019: €-10k
2020: €-4k
2021: €560
2022: €-9k
2023: €3k
2024: €12k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€192k-€302k▲ 57.3%
Equity€3k-€-10k€2k€12k▲ 576%€736▼ 93.7%
Operating result€2k-€-11k€12k€12k▼ 6.4%€-10k
Net result€2k-€-13k€12k€10k▼ 15.7%€-11k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €10k after €12k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €30k
Fixed assets
€185=
Current assets
€30k▼ 1.8%
Equity and liabilities €30k
Equity
€736▼ 93.7%
Debt
€30k▲ 54.3%
The debt ratio rises from 62.1% to 97.6%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
2.4%▼
2024 · 37.9%
Current ratio
1.02▼
2024 · 1.68
Quick ratio
0.24▼
2024 · 0.45
ROA
-36.2%▼
2024 · 32.3%
Debt
€30k▲
2024 · €19k
Debt ≤ 1 year
€30k▲
2024 · €18k
Income taxes
€978▼
2024 · €1k
Staff costs
€22k▲
2024 · €9k
Equity ratios withheld: equity of €736 is too small for a meaningful ratio.
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€31k€30k▼
Fixed assets21/28€185€185=
Financial fixed assets28€185€185=
Current assets29/58€31k€30k▼
Stocks and contracts in progress3€23k€23k▲
Stocks30/36€23k€23k▲
Amounts receivable within one year40/41€1k€345▼
Other amounts receivable41€1k€345▼
Cash at bank and in hand54/58€7k€7k▼
Equity and liabilities
Total equity and liabilities10/49€31k€30k▼
Equity10/15€12k€736▼
Contributions10/11€19k€19k=
Capital10€19k-
Issued capital100€19k-
Reserves13€460€460=
Non-distributable reserves130/1€460-
Legal reserve130€460-
Distributable reserves133-€460
Profit (loss) carried forward14€-7k€-18k▼
Amounts payable17/49€19k€30k▲
Amounts payable within one year42/48€18k€30k▲
Financial debts43€13k€15k▲
Credit institutions430/8€13k€15k▲
Trade debts44€1k€6k▲
Suppliers440/4€1k€6k▲
Taxes, remuneration and social security45€4k€9k▲
Taxes450/3€1k€3k▲
Remuneration and social security454/9€3k€6k▲
Accrued charges and deferred income492/3€900-
Income statement
Code20242025
Remuneration, social security and pensions62€9k€22k▲
Other operating charges640/8€5k€5k▲
Gross operating margin9900€25k€17k▼
Operating profit (loss)9901€12k€-10k▼
Financial income75/76B€69€1▼
Recurring financial income75€69€1▼
Financial charges65/66B€460€454▼
Recurring financial charges65€460€454▼
Profit (loss) for the period before taxes9903€11k€-10k▼
Income taxes67/77€1k€978▼
Profit (loss) for the period9904€10k€-11k▼
Profit (loss) for the period to be appropriated9905€10k€-11k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-18k▼
Profit (loss) brought forward from the previous period14P€-17k€-7k▲
The notes to these accounts (4 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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
08-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 39 days late
2024
11-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 72 days late
2023
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
02-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2022
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 12 days late
2021
14-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 45 days late
2020
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 66 days late
2019
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Ukkel · 1 establishment unit since 2016
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.
Stallestraat 1691180 UkkelGround area
87 m²
Building footprint
85 m²
Volume, LiDAR
1,055 m³
Parcel 21616G0076/00Y000, Brussels · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
phagwara
since 20162.259.564.124
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616G0076/00Y000 | Brussels | 87 m² | 1 · 85 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteUkkel2.259.564.124
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Of 10,525 companies in sector 47110 we hold annual accounts for 5,860. 613 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-11-2016
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47112Retail trade
47113Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.