Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
Green is investment, beige is depreciation.
Short-term debts rose from €416 to €54,888.
Lower net result than 95% of companies in personal services. Sector median €2,559 · 6,263 companies.
In July 2024, 6,007 companies had the same profile as Phénix Diffusion has now. Each dot stands for 16 companies, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 6,007 companies, not a prediction for Phénix Diffusion. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| Phénix Diffusion Huy | €32,250 | €16,733 | -70.2% | - |
| PASSION’HAIR 1909 Héron | €32,497 | €23,181 | 15.6% | - |
| OCHKA Soumagne | €29,115 | €21,932 | -42.7% | - |
| MXT.SALON Waremme | €28,038 | €18,517 | -86.3% | - |
| HAIR BY MARGOT Rijkevorsel | €29,837 | €15,280 | 9.0% | - |
| ANDI Schaerbeek | €29,439 | €18,173 | 65.0% | - |
| Sublim'in Hair Waterloo | €35,756 | €14,618 | 42.7% | - |
These companies have the same main activity as Phénix Diffusion: hairdressing and barber services (NACE 96210). They are comparable in size and age: total assets between €28,000 and €35,800, founded between 2020 and 2022.
Phénix Diffusion files the micro format. That format states no turnover. The gross margin fell from €22,210 in 2021 to €16,733 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €67,000 and €210,000.
Higher than 16% of 6,259 companies in 2025.
Higher than 26% of 5,744 companies in 2025.
Lower than 95% of 5,796 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
32,250 | 12,101 | 20,770 | 26,872 | 28,719 | |
21/28 |
4,664 | 1,430 | 1,606 | 2,931 | 2,605 | |
22/27 |
4,238 | 1,430 | 1,606 | 2,931 | 2,605 | |
23 |
487 | - | - | - | - | |
24 |
2,654 | 1,430 | 1,606 | 2,931 | 2,605 | |
26 |
1,097 | - | - | - | - | |
28 |
426 | - | - | - | - | |
29/58 |
27,586 | 10,671 | 19,164 | 23,941 | 26,114 | |
3 |
14,648 | - | - | - | - | |
30/36 |
14,648 | - | - | - | - | |
40/41 |
666 | 1,354 | 8,667 | 16,762 | 4,196 | |
40 |
666 | - | 8,667 | 16,762 | 4,196 | |
41 |
- | 1,354 | - | - | - | |
54/58 |
12,272 | 4,956 | 4,681 | 7,180 | 21,918 | |
490/1 |
- | 4,362 | 5,816 | - | - | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
32,250 | 12,101 | 20,770 | 26,872 | 28,719 | |
10/15 |
-22,639 | 11,685 | 12,350 | 12,376 | 11,058 | |
10/11 |
10 | 5,000 | 5,000 | 5,000 | 5,000 | |
14 |
-22,649 | 6,685 | 7,350 | 7,376 | 6,058 | |
17/49 |
54,888 | 416 | 8,420 | 14,496 | 17,661 | |
42/48 |
54,888 | 416 | 7,497 | 14,496 | 17,661 | |
44 |
1,146 | 100 | 2,316 | 2,725 | 1,434 | |
440/4 |
1,146 | 100 | 2,316 | 2,725 | 1,434 | |
45 |
25,373 | 317 | 4,999 | 11,589 | 7,885 | |
450/3 |
4,379 | 317 | 2,499 | 8,839 | 5,885 | |
454/9 |
20,995 | - | 2,500 | 2,750 | 2,000 | |
47/48 |
28,369 | - | 182 | 182 | 8,342 | |
492/3 |
- | - | 923 | - | - | |
| Income statement | ||||||
9900 |
16,733 | 1,244 | 3,650 | 6,217 | 22,210 | |
62 |
44,906 | - | - | - | - | |
630 |
429 | 995 | 1,325 | 1,020 | 1,873 | |
640/8 |
46 | 511 | 1,677 | 836 | 1,194 | |
66A |
530 | - | - | - | - | |
9901 |
-29,178 | -262 | 649 | 4,361 | 19,143 | |
75/76B |
67 | 45 | 0 | 0 | - | |
75 |
67 | 45 | 0 | 0 | - | |
65/66B |
241 | 131 | 131 | 88 | - | |
65 |
241 | 131 | 131 | 88 | - | |
9903 |
-29,352 | -348 | 518 | 4,273 | 19,143 | |
67/77 |
-18 | 317 | 544 | 2,954 | 5,885 | |
9904 |
-29,334 | -665 | -27 | 1,319 | 13,258 | |
9905 |
-29,334 | -665 | -27 | 1,319 | 13,258 | |
| Appropriation of the result | ||||||
9906 |
-22,649 | 6,685 | 7,350 | 7,376 | 13,258 | |
14P |
6,685 | 7,350 | 7,376 | 6,058 | - | |
694/7 |
- | - | - | - | 7,200 | |
694 |
- | - | - | - | 7,200 | |
| Document | ||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00369866 | |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00318009 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00297687 | |
| 31-12-2022 | micro format | 14-07-2023 | 2023-00241287 | |
| 31-12-2021 | micro format | 05-08-2022 | 2022-20276936 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| -28,749 | 733 | 1,973 | 5,381 | 21,016 | ||
| -28,904 | 330 | 1,298 | 2,339 | 15,131 | ||
| 5,093 | 819 | 22,941 | 1,346 | 2,978 | ||
| 7,316 | 275 | -2,499 | -14,738 | - | ||
| -27,303 | 10,255 | 11,667 | 9,445 | 8,453 | ||
| -70.2% | 96.6% | 59.5% | 46.1% | 38.5% | ||
| 0.50 | 25.63 | 2.56 | 1.65 | 1.48 | ||
| 0.24 | 25.63 | 2.56 | 1.65 | 1.48 | ||
| - | 0.04 | 0.68 | 1.17 | 1.60 | ||
| - | -5.7% | -0.2% | 10.7% | 119.9% | ||
| -91.0% | -5.5% | -0.1% | 4.9% | 46.2% | ||
| -119.19 | 5.59 | 15.05 | 61.04 | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,668 | €819 | €22,941 | €1,346 | €2,978 |
| Financial fixed assets | €426 | - | - | - | - |
| €429 | €995 | €1,325 | €1,020 | €1,873 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €29,178, larger than the loss of €262 in 2024. It is the lowest result since 2021.
Equity is negative. Debt (€54,888) exceeds the balance-sheet total (€32,250).
Phénix Diffusion has no parent and no holdings in its annual accounts. is the only director.
| Morsa, Océane (sole trader)
establishment since 01-04-2026 |
founded in 2026 1034.450.659 |
| Mullaert, Carine (sole trader)
establishment since 01-04-2026 |
founded in 2026 1035.281.889 |
via , no longer at · Director · deed of 25-02-2021 No longer active |
total assets €24,275 (2024) |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Phénix Diffusion was incorporated on 31 January 2021 as a private limited company by one natural person, with a starting capital of €5,000.12 The registered office moved to Neupré in 2022 and to Huy in 2025.34 The name was changed to Phénix Diffusion in 2025.4 Since 2025, has served as director.5 Total assets rose from €28,719 in 2021 to €32,250 in 2025.6
| Establishment | Since | Unit number |
|---|---|---|
| Entre Nous registered office Rue Neuve 35, 4500 Huy | 01-02-2021 | 2.312.746.353 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 61322A1397/00P000 | 122 m² | 1 · 82 m² | 18.3 m · 5 |
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