Result
Back in profit in 2026, after a loss of €1.3m in 2025.
Back in profit in 2026, after a loss of €1.3m in 2025.
Green is investment, beige is depreciation. Land and buildings stand 93.4% higher than in 2025.
Between 2019 and 2026, 52% of the full-time equivalents disappeared.
Six of the last ten came late. The 2026 accounts came latest: 65 days after the end of the period.
Board changed. Latest change 17-09-2026 · 5 in office.
Higher net result than 95% of companies in food and beverage service. Sector median €1,577 · 43 companies.
Group, consolidated 31-01-2026: turnover €37.9m, result -€4,000
The dashed line is the sector median: 0.6% across 68 companies (NACE 56, medium-sized).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, medium-sized). It does better than 73% of them on solvency, 74% on liquidity, 32% on profitability and 47% on growth.
The bankruptcy probability was computed on 07-11-2026 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 31-01-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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).
In July 2024, 1,887 companies had the same profile as EXKI has now. Each dot stands for 5 companies, two years later.
That fits the bankruptcy probability of EXKI itself: 0.4% within 12 months.
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 1,887 companies, not a prediction for EXKI. 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.
Liquidity is ample, with a current ratio of 2.69 (2.22 in 2025), above the usual 1.5. Short-term debt is 24.6% and cash 11.7% of total assets. However, 51.9% of the assets are financed with debt and provisions.
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.
The company filed its last 5 accounts on average 11 days after 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.
Shares in 5 companies, including Exki France and The Sun Kitchen
Board & ownership| Company | ||||
|---|---|---|---|---|
| EXKI Ixelles | €22.0m | 5.4% | 48.1% | 156.4 |
| PUUR Halle | €26.3m | -12.4% | 71.3% | 134.2 |
| PQ BELGIUM Brussels | €38.3m | 1.4% | -24.7% | 364.1 |
| CHAUD DIFFUSION Ans | €39.6m | 2.4% | 50.6% | 262.6 |
| Le Monde du Pain Antwerp | €19.7m | 4.8% | 60.1% | 164.3 |
| PIZZA BELGIUM Antwerp | €45.8m | 2.6% | 7.4% | 484.3 |
| Hawaiian Poké Bowl Antwerp | €19.2m | 21.9% | 22.4% | 62.3 |
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 EXKI: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €8.8m and €35m, founded between 1986 and 2015.
EXKI has existed since 2000. Turnover fell from €42.5m in 2020 to €13.9m in 2021.
Turnover has fallen every year since 2023. Solvency rose in 2026 from 30.9% to 48.1% because of the retained profit and a capital increase and lower debts.
IRIS BELGIUM holds 80% of the shares. In March 2025, three directors stepped down. In March 2026, the Official Gazette published the appointment of Xavier Royaux as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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