SAFAAD
Open bankruptcyA bankruptcy procedure is open for SAFAAD according to publications in the Belgian State Gazette; curator: GUY KELDER.
Summary
The file additionally contains 1 administrative flag. The 2022 annual accounts show equity of €108k and a net result of €33k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 19-09-2023, 50 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
50 d late
2021
117 d late
2020
104 d late
2019
94 d late
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Financials · fiscal year 2022, micro schema
Equity
€108k▲ 43.4%
2021 · €75k
2018: €9k
2019: €30k
2020: €40k
2021: €75k
2018 → 2022
Total assets
€153k▲ 33.5%
2021 · €115k
2018: €33k
2019: €95k
2020: €82k
2021: €115k
2018 → 2022
Net result
€33k▼ 6.8%
2021 · €35k
2018: €2k
2019: €21k
2020: €10k
2021: €35k
2018 → 2022
Working capital
€82k▲ 17.1%
2021 · €70k
2018: €9k
2019: €26k
2020: €33k
2021: €70k
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Equity€9k-€30k▲ 227%€40k▲ 33.3%€75k▲ 87.0%€108k▲ 43.4%
Operating result€2k-€33k▲ 1,832%€11k▼ 65.0%€36k▲ 214%€58k▲ 61.9%
Net result€2k-€21k▲ 1,195%€10k▼ 52.1%€35k▲ 249%€33k▼ 6.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2020 the operating result has climbed two years in a row; 2022 is 62% above 2021 and is the highest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €153k
Fixed assets
€26k ▲ 412%
Current assets
€128k ▲ 16.3%
Equity and liabilities €153k
Equity
€108k ▲ 43.4%
Debt
€46k ▲ 14.9%
Debt's share of the balance-sheet total falls from 34.7% to 29.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€62k▲
2021 · €38k
Cash flow
€37k▲
2021 · €37k
Current ratio
2.79▲
2021 · 2.76
Quick ratio
2.78▲
2021 · 2.74
Debt to equity
0.43▼
2021 · 0.53
ROE
30.2%▼
2021 · 46.5%
ROA
21.2%▼
2021 · 30.4%
Interest coverage
25.83▼
2021 · 45.19
Debt ≤ 1 year
€46k▲
2021 · €40k
Income taxes
€23k
Staff costs
€51k▲
2021 · €14k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 41 lines
Balance sheet
Code20212022
Assets
Total assets20/58€115k€153k▲
Fixed assets21/28€5k€26k▲
Tangible fixed assets22/27€5k€26k▲
Furniture and vehicles24€5k€3k▼
Other tangible fixed assets26-€23k
Current assets29/58€110k€128k▲
Stocks and contracts in progress3€810€655▼
Stocks30/36€810€655▼
Amounts receivable within one year40/41€53k€102k▲
Trade receivables40€29k€49k▲
Other amounts receivable41€23k€53k▲
Cash at bank and in hand54/58€57k€21k▼
Deferred charges and accrued income490/1€0€4k▲
Equity and liabilities
Total equity and liabilities10/49€115k€153k▲
Equity10/15€75k€108k▲
Contributions10/11€8k€8k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€66k€98k▲
Amounts payable17/49€40k€46k▲
Amounts payable within one year42/48€40k€46k▲
Trade debts44€17k€22k▲
Suppliers440/4€17k€22k▲
Taxes, remuneration and social security45€19k€21k▲
Taxes450/3€16k€17k▲
Remuneration and social security454/9€4k€4k▲
Other amounts payable47/48€3k€3k▼
Income statement
Code20212022
Remuneration, social security and pensions62€14k€51k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€4k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€54k€117k▲
Operating profit (loss)9901€36k€58k▲
Financial charges65/66B€835€2k▲
Recurring financial charges65€835€2k▲
Profit (loss) for the period before taxes9903€35k€56k▲
Income taxes67/77-€23k
Profit (loss) for the period9904€35k€33k▼
Profit (loss) for the period to be appropriated9905€35k€33k▼
Appropriation of the result
Profit (loss) to be appropriated9906€66k€98k▲
Profit (loss) brought forward from the previous period14P€31k€66k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
22-09
KBO administration
Address struck
19-09
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · SRL SAFAAD RUE DE L’ESPERANCE 1, 1080 MOLENBEEK-SAINT-JEAN · event 15-09-2025
2023
19-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 50 days late
2022
31-12
Financial
Equity above €100kEq €108k ▲43.4%
5 profitable years in a row build equity to €108k.
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 117 days late
2021
31-12
Financial
Highest result since 2018net €35k ▲249%
Net result €35k, the highest in the series.
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 104 days late
2020
02-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 94 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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
1 establishment unit since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Ground area
110 m²
Building footprint
110 m²
Volume, LiDAR
1,433 m³
Parcel 21012A0211/00L007, Brussels · tallest building 15.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
SAFAAD
since 20172.270.656.370
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21012A0211/00L007 | Brussels | 110 m² | 1 · 110 m² | 15.9 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | GUY KELDER PLACE GUY D’AREZZO 18, 1180 UCCLE- |
15-09-2025 → present |
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Of 21,888 companies in sector 56112 we hold annual accounts for 9,780. 7,721 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded16-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.