PHILFA
ActiveSummary
The computed 12-month bankruptcy probability of PHILFA is 1.7% (moderate). The 2024 annual accounts show negative equity (-€116,237) and a net result of -€3,536. Equity is shrinking by ~16.2% per year across the filed fiscal years. Its solvency ranks better than 7% of 26049 sector peers (fiscal year 2024). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability28▲+28
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.18 against 0.25 in 2023; short-term debt: 259.4% and cash: 19.6% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
-159.4%
Return on assets
-4.8%
Age of the figures
21 mo
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
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€116,237
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
40 d early
2022
33 d early
2021
38 d early
2020
37 d early
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 26 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€116,237▼ 3.1%
2023 · -€112,701
Total assets
€72,940▼ 17.1%
2023 · €87,940
Net result
-€3,536▲ 89.8%
2023 · -€34,640
Working capital
-€155,175▼ 9.8%
2023 · -€141,278
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€2,035▲ 6.9%€33,806-€39,005-€24,955▲ 36.0%€7,582
Net result-€4,141below the sector's middle half▲ 60.8%€31,216above the sector's middle half-€42,926below the sector's middle half-€34,640below the sector's middle half▲ 19.3%-€3,536within the sector's middle half▲ 89.8%
Equity-€66,351below the sector's middle half▼ 6.7%-€35,135below the sector's middle half▲ 47.0%-€78,061below the sector's middle half▼ 122%-€112,701below the sector's middle half▼ 44.4%-€116,237below the sector's middle half▼ 3.1%
Total assets€88,188within the sector's middle half▲ 34.4%€82,122within the sector's middle half▼ 6.9%€88,747within the sector's middle half▲ 8.1%€87,940within the sector's middle half▼ 0.9%€72,940within the sector's middle half▼ 17.1%
Debt€154,539▲ 20.9%€117,257▼ 24.1%€166,809▲ 42.3%€200,642▲ 20.3%€189,177▼ 5.7%
Working capital-€118,784below the sector's middle half▼ 7.3%-€86,734below the sector's middle half▲ 27.0%-€124,560below the sector's middle half▼ 43.6%-€141,278below the sector's middle half▼ 13.4%-€155,175below the sector's middle half▼ 9.8%
Solvency-75.2%below the sector's middle half▲ 19.6pp-42.8%below the sector's middle half▲ 32.5pp-88.0%below the sector's middle half▼ 45.2pp-128.2%below the sector's middle half▼ 40.2pp-159.4%below the sector's middle half▼ 31.2pp
Current ratio0.13below the sector's middle half=0.25below the sector's middle half▲ 0.110.23below the sector's middle half▼ 0.010.25below the sector's middle half▲ 0.020.18below the sector's middle half▼ 0.07
Return on assets (ROA)-4.7%below the sector's middle half▲ 11.4pp38.0%above the sector's middle half▲ 42.7pp-48.4%below the sector's middle half▼ 86.4pp-39.4%below the sector's middle half▲ 9.0pp-4.8%below the sector's middle half▲ 34.5pp
Staff (FTE)5.2above the sector's middle half▲ 6.1%5.6▲ 7.7%5.2▼ 7.1%4.9▼ 5.8%4.3▼ 12.2%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €7,582 after a loss of €24,955 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €72,940
Fixed assets
€38,938 ▼ 3.7%
Current assets
€34,002 ▼ 28.4%
Key figures and ratios
EBITDA
€19,355▲
2023 · -€13,370
Cash flow
€8,237▲
2023 · -€23,055
Quick ratio
0.08▼
2023 · 0.16
Debt to equity
-1.63▲
2023 · -1.78
Interest coverage
1.80▲
2023 · -1.42
Debt ≤ 1 year
€189,177▲
2023 · €188,780
Income taxes
€375▼
2023 · €509
Staff costs
€219,564▲
2023 · €197,852
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,338 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €94,462 | €172,835 | €197,852 | €219,564 | ▲ 11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,113 | €17,316 | €17,716 | €11,585 | €11,773 | ▲ 1.6% |
| Other operating charges640/8 | - | €3,826 | €5,950 | €7,212 | €5,755 | ▼ 20.2% |
| Gross operating margin9900 | €98,652 | €149,411 | €157,497 | €191,694 | €244,673 | ▲ 27.6% |
| Operating profit (loss)9901 | -€2,035 | €33,806 | -€39,005 | -€24,955 | €7,582 | ▲ 130% |
| Financial income75/76B | - | €234 | €272 | €209 | €4 | ▼ 98.3% |
| Recurring financial income75 | €419 | €234 | €272 | €209 | €4 | ▼ 98.3% |
| Financial charges65/66B | - | €2,337 | €3,687 | €9,384 | €10,746 | ▲ 14.5% |
| Recurring financial charges65 | €2,232 | €2,337 | €3,687 | €9,384 | €10,746 | ▲ 14.5% |
| Profit (loss) for the period before taxes9903 | -€3,848 | €31,704 | -€42,420 | -€34,131 | -€3,160 | ▲ 90.7% |
| Income taxes67/77 | €293 | €488 | €506 | €509 | €375 | ▼ 26.3% |
| Profit (loss) for the period9904 | -€4,141 | €31,216 | -€42,926 | -€34,640 | -€3,536 | ▲ 89.8% |
| Profit (loss) for the period to be appropriated9905 | -€4,141 | €31,216 | -€42,926 | -€34,640 | -€3,536 | ▲ 89.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €88,188 | €82,122 | €88,747 | €87,940 | €72,940 | ▼ 17.1% |
| Fixed assets21/28 | €69,984 | €53,767 | €50,629 | €40,438 | €38,938 | ▼ 3.7% |
| Intangible fixed assets21 | €16,667 | €8,667 | €667 | - | - | - |
| Tangible fixed assets22/27 | €52,977 | €44,761 | €49,623 | €40,099 | €38,599 | ▼ 3.7% |
| Plant, machinery and equipment23 | - | €5,642 | €8,392 | €7,042 | €4,160 | ▼ 40.9% |
| Furniture and vehicles24 | - | €5,745 | €3,646 | €1,548 | €9,006 | ▲ 482% |
| Other tangible fixed assets26 | - | €33,374 | €37,584 | €31,509 | €25,433 | ▼ 19.3% |
| Financial fixed assets28 | €339 | €339 | €339 | €339 | €339 | = |
| Current assets29/58 | €18,205 | €28,355 | €38,118 | €47,502 | €34,002 | ▼ 28.4% |
| Stocks and contracts in progress3 | €9,200 | €9,600 | €11,427 | €16,580 | €18,200 | ▲ 9.8% |
| Stocks30/36 | - | €9,600 | €11,427 | €16,580 | €18,200 | ▲ 9.8% |
| Amounts receivable within one year40/41 | €7,545 | €3,705 | €3,705 | €8,497 | €686 | ▼ 91.9% |
| Trade receivables40 | - | - | - | €4,189 | €93 | ▼ 97.8% |
| Other amounts receivable41 | - | €3,705 | €3,705 | €4,308 | €593 | ▼ 86.2% |
| Cash at bank and in hand54/58 | €590 | €14,745 | €22,667 | €22,082 | €14,302 | ▼ 35.2% |
| Deferred charges and accrued income490/1 | - | €305 | €319 | €344 | €814 | ▲ 137% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €88,188 | €82,122 | €88,747 | €87,940 | €72,940 | ▼ 17.1% |
| Equity10/15 | -€66,351 | -€35,135 | -€78,061 | -€112,701 | -€116,237 | ▼ 3.1% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€72,551 | -€41,335 | -€84,261 | -€118,901 | -€122,437 | ▼ 3.0% |
| Amounts payable17/49 | €154,539 | €117,257 | €166,809 | €200,642 | €189,177 | ▼ 5.7% |
| Amounts payable after more than one year17 | €17,550 | €2,168 | €4,130 | €1,407 | - | - |
| Financial debts170/4 | - | - | €4,130 | €1,407 | - | - |
| Other amounts payable178/9 | - | €2,168 | - | - | - | - |
| Amounts payable within one year42/48 | €136,989 | €115,089 | €162,678 | €188,780 | €189,177 | ▲ 0.2% |
| Current portion of amounts payable after more than one year42 | - | - | €2,608 | €2,723 | €1,346 | ▼ 50.6% |
| Financial debts43 | - | €5,093 | - | - | - | - |
| Credit institutions430/8 | - | €5,093 | - | - | - | - |
| Trade debts44 | €66,384 | €36,486 | €71,896 | €85,822 | €51,538 | ▼ 39.9% |
| Suppliers440/4 | - | €36,486 | €71,896 | €85,822 | €51,538 | ▼ 39.9% |
| Advances received on contracts in progress46 | - | €3,917 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €44,502 | €65,572 | €78,952 | €121,161 | ▲ 53.5% |
| Taxes450/3 | - | €19,311 | €36,469 | €50,180 | €73,140 | ▲ 45.8% |
| Remuneration and social security454/9 | - | €25,190 | €29,103 | €28,771 | €48,021 | ▲ 66.9% |
| Other amounts payable47/48 | - | €25,091 | €22,603 | €21,283 | €15,132 | ▼ 28.9% |
| Accrued charges and deferred income492/3 | - | - | - | €10,455 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,141 | €31,216 | -€42,926 | -€34,640 | -€3,536 | ▲ 89.8% |
| + Depreciation and write-downs630 | €15,113 | €17,316 | €17,716 | €11,585 | €11,773 | ▲ 1.6% |
| Operating cash flow (approximation) | €10,972 | €48,532 | -€25,210 | -€23,055 | €8,237 | ▲ 136% |
| Investment in fixed assets (approximation) | - | -€1,100 | -€14,578 | -€1,394 | -€10,273 | ▼ 637% |
| Change in cash | - | €14,155 | €7,922 | -€586 | -€7,779 | ▼ 1,228% |
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
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€42,926
Net result drops to -€42,926, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €31,216
Net result €31,216 after 3 loss-making years.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
20-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Namur · 1 establishment unit since 2013
Ground area
182 m²
Building footprint
57 m²
Volume, LiDAR
1,139 m³
Parcel 92094C0850/00E000, Wallonia · tallest building 22.0 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
Brasserie PhiFa
since 20132.216.489.689
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92094C0850/00E000 | Wallonia | 182 m² | 1 · 57 m² | 22.0 m · 7 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 siteNamur2.216.489.689
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,403 companies in sector 47241 we hold annual accounts for 1,101. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-01-2013
Fiscal year end31-12
Activities, NACEBEL 2025
47241Retail sale of bread and pastry (bakery outlets)
56112Limited-service restaurants, excluding mobile food services
56111Full-service restaurants
56210Event catering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0502902042
Also
9925:BE0502902042
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.