Active BE 0465.246.345Private limited company

Pippa X

Omgangstraat(MAR) 125 ·2880 Bornem, Belgium· 27 yrs active

Sector: Full-service restaurants (56111)

Conclusion Checked

Pippa X has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €68k and a net result of €17k. Equity is growing by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 85% of 12646 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€68k
Net result	€17k
Staff (FTE)	3.8
Better than sector	85%

Financial profile 5 of 5 axes measured · computed by Checked

96 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 100

Solvency 100

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

1.1% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1999, 27 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€7k

estimate, not credit advice

Score history

93 2022

53 2023

93 2024

100 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 3.62 (≥ 1.5) +10

Quick ratio Quick ratio 3.44 (≥ 1.0) +5

Leverage Debt/equity 0.38 (< 1.0) +10

Profitability ROE 25% (≥ 10%) +10

Interest coverage Interest coverage 31.6× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview26 NBB filings

Annual accounts filed on 16-02-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~17.5%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 56, Food and beverage service activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	72.5%	30.5%	better than 85% of 12646 sector peers
Net result	€17k	€5k	better than 69% of 12627 sector peers
Equity	€68k	€30k	better than 68% of 12674 sector peers
Gross operating margin	€88k	€62k	better than 60% of 12592 sector peers
Staff costs	€63k	€56k	higher than 53% of 9022 sector peers

EBITDA

€21k

- 21-25

Net profit

€17k

+2.0% 21-25

Cash flow

€17k

- 21-25

Total assets

€94k

+34.6% 21-25

Equity

€68k

+1.5% 21-25

Working capital

€68k

+1.0% 21-25

Employees (FTE)

4

+1800.0% 21-25

Staff costs

€63k

- 21-25

Income taxes

€3k

+95.5% 21-25

Dividends

€6k

- 21-25

Debt

€26k

+851.4% 21-25

Debt ≤ 1y

€26k

+851.4% 21-25

Current ratio

3.62

-85.9% 21-25

Quick ratio

3.44

-86.6% 21-25

Solvency

72.5%

-24.6% 21-25

Debt / equity

0.38

+837.1% 21-25

ROE

25.3%

+0.4% 21-25

ROA

18.3%

-24.2% 21-25

Interest coverage

31.64

- 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€21k	-	-	-	-
Net profit	€17k	€17k	€1k	€14k	€-11k
Cash flow	€17k	-	-	-	-
Staff costs	€63k	-	-	-	-
Income taxes	€3k	€2k	-	-	-
Dividends	€6k	-	-	-	-
Total assets	€94k	€70k	€50k	€49k	€35k
Equity	€68k	€67k	€50k	€49k	€35k
Debt	€26k	€3k	-	€64	-
of which ≤ 1y	€26k	€3k	-	€64	-
of which > 1y	-	-	-	-	-
Working capital	€68k	€67k	-	€49k	-
Employees (FTE)	3.8	-	-	-	0.2

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	3.62	25.71	-	766.86	-
Quick ratio	3.44	25.71	-	766.86	-
Working capital ratio	72.2%	96.1%	-	99.9%	-
Solvency	72.5%	96.1%	100.0%	99.9%	100.0%
Debt / equity	0.38	0.04	-	0.00	-
Long-term debt ratio	-	-	-	-	-
Interest coverage	31.64	-	-	-	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	18.3%	24.2%	2.7%	27.7%	-30.9%
ROE	25.3%	25.2%	2.7%	27.7%	-30.9%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	17d	167d	-	-	-
Inventory turnover	42.26	-	-	-	-
Days inventory (DSI)	9d	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €331 · 0.4% Current assets €93k · 99.7%

Equity & liabilities

Equity €68k · 72.5% Debt €26k · 27.5%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€94k	€70k	€50k	€49k	€35k
Fixed assets	21/28	€331	-	-	-	-
Tangible fixed assets	22/27	€331	-	-	-	-
Current assets	29/58	€93k	€70k	€50k	€49k	€35k
Stocks & contracts in progress	3	€5k	-	-	-	-
Amounts receivable within one year	40/41	€70k	€68k	€47k	€43k	€29k
Cash & bank	54/58	€16k	€2k	€3k	€6k	€6k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€94k	€70k	€50k	€49k	€35k
Equity	10/15	€68k	€67k	€50k	€49k	€35k
Contributions / capital	10/11	€21k	€31k	€31k	€31k	€31k
Reserves	13	€44k	€32k	€15k	€15k	€15k
Accumulated profits (losses)	14	€3k	€4k	€4k	€3k	€-11k
Amounts payable	17/49	€26k	€3k	-	€64	-
Amounts payable within one year	42/48	€26k	€3k	-	€64	-
Trade debts payable within one year	44	€10k	€1k	-	€64	-
Income statement
Gross operating margin	9900	€88k	€19k	€3k	€14k	€6k
Operating result	9901	€21k	€19k	€2k	€14k	€-9k
Financial income	75	€0	-	-	-	€1
Financial charges	65	€669	€308	€284	€293	€657
Result before taxes	9903	€20k	€19k	€1k	€14k	€-10k
Income taxes	67/77	€3k	€2k	-	-	-
Net result for the period	9904	€17k	€17k	€1k	€14k	€-10k
Result to be appropriated	9905	€17k	€17k	€1k	€14k	€-10k

Legal Structure

NACE primary	Full-service restaurants(56111)
Legal form	Private limited company(610)
Incorporation	13-01-1999
Status	Active
Postal code	2880

Establishment units 1 location

Jolin by Shanna

Kloosterstraat 8, 2830 WillebroekAgents in the wholesale of textiles, clothing, fur, footwear and leather goods

since 20172.264.026.718

Real-estate footprint Source: CBE × cadastre

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
12024A0174/00W000	Flanders	918 m²	1 · 227 m²	8.4 m · 1 fl.
12040A0980/00P002	Flanders	364 m²	1 · 146 m²	12.4 m · 3 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

16-02

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 16 days late

2025

30-06

Financial Highest result since 2021net €17k ▲2%

Operating result €21k, net result €17k, both a record.

05-02

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 5 days late

2024

29-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

28-12

State Gazette act Capital & shares

Angélique Tack

31-01

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

30-06

Financial Back to profitnet €14k

Net result €14k after one loss-making year.

01-02

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 1 day late

2021

31-01

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

12-02

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 12 days late

2019

31-01

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

05-01

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

31-01

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 5 acts read

We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

Capital history · 1

28-12-2023

Capital change

All acts · 1 updated 2 years ago

2023

28-12-2023 All shares are now held by a single shareholder Capital & shares·Angélique Tack

Notary: Angélique Tack · Sint-Niklaas

Original publication ↗

Technical details

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    },
    {
      "kind": "statutory_reserve_release",
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    },
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      "statutory_unavailable_equity_op": "convert_to_fondsen_vzw"
    }
  ],
  "notary": {
    "name": "Ang\u00E9lique Tack",
    "firm_city": null,
    "firm_name": null,
    "office_city": "Sint-Niklaas",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-12-28",
    "filing_date": "2023-12-18",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": "2023-12-13",
    "unanimous": null,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2023-12-13"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0465.246.345",
    "name_full": "ShaVee",
    "legal_form": "BV",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
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    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "co\u00F6rdineerde statuten",
    "verslag van de bestuurder"
  ],
  "shareholders_after": [],
  "share_classes_after": []
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Full-service restaurants56101Full-service restaurants56111

Names & trade names

Legal nameNL

Pippa X

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