Equity
-€13,834
Debts exceed assets in financial year 2025.
PHILREST
Lifetime
20 annual accounts with figures on one time axis, 34 filings since 1992peak €1.3m (2024)
-not published
lowest -€172,081 (2023)
-€40,855▲ €2,174
peak €210,617 (2010)
-€13,834▼ €40,855
€947,456▼ 8.9%
peak 26.3 FTE (2010)
22.2 FTE▲ 5.7%
Board1 name since 2011
1 directorPIAMAN BV
Owners
99.98%PIAMAN
Documentsfilings and deeds
01-07-202630 days before the deadline
2025financial year
Loss of €40,855Equity from €27,021 to -€13,834
Key points
from the 2025 annual accountsLosses
-€339,038 in four years
Every financial year from 2022 to 2025 closed with a loss. 2023 was the heaviest.
Debts
€947,456 101% of the balance sheet
Financial debts 45%Suppliers 29%Taxes and wages 12%Other 14%
Of this, €513,043 falls due within a year.
Staff
23 employees on 31-12-2025
In 2025, 10 people joined and 15 left. On top of that, 1.7 agency workers worked there on average.
Filings
34 annual accounts since 1992
The last five annual accounts were filed 18 to 41 days before the end of the period.
Position in the sector
-€40,855
Lower net result than 83% of companies in food and beverage service. Sector median €9,699 · 964 companies.
Checked score
54
Fair
Financially stronger than 30% of small companies in food and beverage service (NACE 56)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.9% across 1,614 companies (NACE 56, small).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.6%
01-2025: 1.6%● unchanged vs 12-2024
02-2025: 1.7%▲ +0.1 percentage points vs 01-2025highest value
03-2025: 1.7%● unchanged vs 02-2025highest value
04-2025: 1.6%▼ -0.1 percentage points vs 03-2025
05-2025: 1.6%● unchanged vs 04-2025
06-2025: 1.5%▼ -0.1 percentage points vs 05-2025
07-2025: 0.8%▼ -0.7 percentage points vs 06-2025
08-2025: 0.8%● unchanged vs 07-2025
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 0.8%● unchanged vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.7%▼ -0.1 percentage points vs 03-2026
05-2026: 0.7%● unchanged vs 04-2026
06-2026: 0.7%● unchanged vs 05-2026lowest value
07-2026: 0.7%● unchanged vs 06-2026
08-2026: 1.4%▲ +0.7 percentage points vs 07-2026
09-2026: 1.4%● unchanged vs 08-2026
10-2026: 1.4%● unchanged vs 09-2026
11-2026: 1.4%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€13,834
Sector: Food and beverage service activities (NACE 56)
lowers risk
Liquidity: current ratio 0.75, cash €319,844
Founded in 1991
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, small). It does better than 15% of them on solvency, 76% on liquidity, 28% on profitability and 4% on growth.
The bankruptcy probability was computed on 08-11-2026 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, 1,242 companies had the same profile as PHILREST has now. Each dot stands for 4 companies, two years later.
92.8%
were still trading
4.0%
stopped another way
1.9%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHILREST itself: 1.4% within 12 months.
Test of the method
The method was tested on the 497,447 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 1,242 companies, not a prediction for PHILREST. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.75 (0.8 in 2024), below 1. Short-term debt is 55% and cash 34.3% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€13,834
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 days early
2024
41 days early
2023
30 days early
2022
18 days early
2021
33 days early
2020
30 days early
2019
14 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 28 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 (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0445287606
Capital contribution of €250,000
250 new shares · General meeting of 02-05-2023 · Gazette deed
Permanent representative: VERHELST Peter Maria Theofiel
“De vennootschap heeft geen ander doel dan aan haar aandeelhouders een rechtstreeks of onrechtstreeks…” (deed in Dutch) · General meeting of 30-09-2020 · Gazette deed
First establishment
MC DONALDS, Groenplaats 17, Antwerp
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PHILREST Antwerp | €3.2m | 0.4% | -1.5% | 22.2 |
| ESPEL Halle | €2.7m | 0.5% | 25.6% | 19.2 |
| LAUXIA Halle | €5.2m | 0.3% | 44.6% | 20.4 |
| GEOMI Awans | €2.2m | 0.3% | 31.4% | 18.4 |
| JORIS IJS BE Beerse | €2.1m | 8.2% | 16.2% | 15.3 |
| CLAVIC Halle | €5.0m | 0.7% | 29.6% | 10.3 |
| ACTION INTEGREE DE DEVELOPEMENT - CENTRE D'INFORMATION ET D'EDUCATION POPULAIRE AID - CIEP LE PERRON DE L'ILON Namur | €1.4m | 7.3% | 83.4% | 17.7 |
Grey: the largest companies of the sector (food and beverage service (NACE 56)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as PHILREST: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €392,000 and €1.9m, founded between 1995 and 2006.
Official details
Source: KBO- Status
- Active since 27-09-1991Normal situation
- Activity
- Limited-service restaurants, excluding mobile food servicesNACE 56112and 1 other
- Joint committee
- 302Hotels and catering · annual accounts 2024
- Establishment unit
- 2.054.470.8862000 Antwerp, since 18-06-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 02-01-2025
Annual accounts 2025
- €933,621▼ 12.5%
- Employeeson 31-12-2025
- 23▼ 17.9%
- Filing
- Filed on 01-07-2026, 30 days before the end of the filing period
Insights on PHILREST
PHILREST has existed since 1991. The gross margin grew from €598,002 in 2006 to €1.3m in 2024.
PIAMAN holds all the shares.
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 PHILREST
- What is the company number of PHILREST?
- The company number of PHILREST is 0445.287.606. The VAT number is the same number with BE in front: BE 0445.287.606.
- Where is PHILREST based?
- The registered office is at Groenplaats 17, 2000 Antwerp.Company details
- What does PHILREST 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 PHILREST?
- PHILREST is a private limited company (BV).
- When was PHILREST founded?
- PHILREST was founded on 27-09-1991.
- Is PHILREST still active?
- Yes, PHILREST is an active enterprise in the KBO register.
- How many employees does PHILREST have?
- PHILREST had an average of 22.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does PHILREST fall under?
- In its 2024 annual accounts, PHILREST states joint committee 302 (Hotels and catering).
- What is the turnover of PHILREST?
- The turnover of PHILREST was €3.2m in financial year 2025, according to the filed annual accounts.
- Is PHILREST profitable?
- In financial year 2025, PHILREST made a loss of €40,855.
- Where can I find the annual accounts of PHILREST?
- PHILREST filed 34 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PHILREST due?
- PHILREST must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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