Seize 40
ActiveSummary
The computed 12-month bankruptcy probability of Seize 40 is 7.1% (elevated). The 2025 annual accounts show negative equity (-€122,196) and a net result of -€39,514. Equity has been shrinking by about 66% per year since 2023. Its solvency ranks better than 13% of 16,961 sector peers (NACE 56, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-06-2023 Normal situation
- Activity
- Limited-service restaurants, excluding mobile food services NACE 56112and 2 others
- Establishment unit
- 2.346.711.991 1640 Sint-Genesius-Rode, since 23-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 13-10-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 7.1%
- Gross margin
- -€10,065
- Loss
- €39,514
- ▼ 42.9%
- Equity
- -€122,196
- ▼ 47.8%
- Total assets
- €185,383
- ▼ 10.1%
- Staff
- ≈ 0 FTE
- estimated
- Negative equity on 31-12-2025
- 2025 accounts filed 69 days after the deadline
Score breakdownraises riskSector: Food and beverage service activities (NACE 56)Last filed accounts filed 69 days late; 2 of the last 3 accounts lateFounded in 2023Negative equity -€122,196Show the evidence
Checked score
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 9% of them on solvency, 10% on liquidity, 8% on profitability and 15% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 51 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.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 69 days after the deadline Filed on 8 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00551034.
Annual accounts 2025 filed on 08-10-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is a loss of €32,378, smaller than the loss of €62,724 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Staff
| Item | 31-12-2024 |
|---|---|
| Average over the year, in full-time equivalents | 1.7 |
| Joined | 19 |
| Left | 19 |
Source: social balance sheet in the 2024 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €134,075 | €70,193 | - |
| Intangible fixed assets | €1,080 | - | - |
| Financial fixed assets | €2,888 | - | - |
| Depreciation and write-downs of the year | €3,741 | €19,226 | €21,175 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as Seize 40: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €166,000 and €233,000, founded between 2022 and 2024.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| Seize 40 Sint-Genesius-Rode | 2023 | €185,383 | -€122,196 | -€10,065 | -€39,514 | 2025 |
| IMMOBILIERE MAISIERES Mons | 2023 | €221,829 | -€50,078 | -€3,963 | -€23,554 | 2025 |
| FRAAIS Brugge | 2024 | €181,315 | -€140 | -€8,382 | -€50,140 | 2025 |
| GRILL X RESTO Elsene | 2023 | €225,351 | -€80,144 | -€93,212 | -€151,513 | 2025 |
| BT Consultance Gesves | 2022 | €195,623 | €152,396 | -€8,991 | €153,785 | 2025 |
| O R A M E G Braine-l'Alleud | 2022 | €166,135 | €27,254 | -€9,919 | -€50,388 | 2025 |
| GC MEDIACITE Oupeye | 2023 | €232,929 | €1,185 | -€621 | €238 | 2025 |
They were chosen from the 10,326 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 7,639 companies had the same profile as Seize 40 has now. Two years later, 8.8% had gone bankrupt and 84.9% were still going.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Seize 40 itself: 7.1% within 12 months.
Test of the method
The method was tested on the 497,445 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 7,639 companies, not a prediction for Seize 40. 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €50,332 | €437 | ▼ 99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,741 | €19,226 | €21,175 | ▲ 10.1% |
| Other operating charges640/8 | - | €880 | €700 | ▼ 20.5% |
| Gross operating margin9900 | -€12,719 | €7,714 | -€10,065 | - |
| Operating profit (loss)9901 | -€16,460 | -€62,724 | -€32,378 | ▲ 48.4% |
| Financial income75/76B | - | €77 | €1,786 | ▲ 23× |
| Recurring financial income75 | - | €77 | €1,786 | ▲ 23× |
| Financial charges65/66B | €2,049 | €6,527 | €8,922 | ▲ 36.7% |
| Recurring financial charges65 | €2,049 | €6,527 | €8,922 | ▲ 36.7% |
| Profit (loss) for the period before taxes9903 | -€18,509 | -€69,173 | -€39,514 | ▲ 42.9% |
| Profit (loss) for the period9904 | -€18,509 | -€69,173 | -€39,514 | ▲ 42.9% |
| Profit (loss) for the period to be appropriated9905 | -€18,509 | -€69,173 | -€39,514 | ▲ 42.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €145,243 | €206,152 | €185,383 | ▼ 10.1% |
| Fixed assets21/28 | €134,301 | €185,269 | €164,094 | ▼ 11.4% |
| Tangible fixed assets22/27 | €131,414 | €182,381 | €161,206 | ▼ 11.6% |
| Furniture and vehicles24 | €1,401 | €1,120 | €839 | ▼ 25.1% |
| Other tangible fixed assets26 | €130,013 | €181,261 | €160,367 | ▼ 11.5% |
| Financial fixed assets28 | €2,888 | €2,888 | €2,888 | = |
| Current assets29/58 | €10,942 | €20,883 | €21,289 | ▲ 1.9% |
| Stocks and contracts in progress3 | - | €4,256 | €4,715 | ▲ 10.8% |
| Stocks30/36 | - | €4,256 | €4,715 | ▲ 10.8% |
| Amounts receivable within one year40/41 | €7,497 | €8,420 | €522 | ▼ 93.8% |
| Trade receivables40 | €3,565 | €7,405 | - | - |
| Other amounts receivable41 | €3,931 | €1,015 | €522 | ▼ 48.5% |
| Cash at bank and in hand54/58 | €3,445 | €8,199 | €15,799 | ▲ 92.7% |
| Deferred charges and accrued income490/1 | - | €7 | €254 | ▲ 35× |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €145,243 | €206,152 | €185,383 | ▼ 10.1% |
| Equity10/15 | -€13,509 | -€82,682 | -€122,196 | ▼ 47.8% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€18,509 | -€87,682 | -€127,196 | ▼ 45.1% |
| Amounts payable17/49 | €158,752 | €288,834 | €307,579 | ▲ 6.5% |
| Amounts payable after more than one year17 | €81,134 | €119,708 | €92,994 | ▼ 22.3% |
| Financial debts170/4 | €81,134 | €119,708 | €92,994 | ▼ 22.3% |
| Amounts payable within one year42/48 | €77,618 | €168,794 | €214,471 | ▲ 27.1% |
| Current portion of amounts payable after more than one year42 | €12,490 | €20,621 | €25,204 | ▲ 22.2% |
| Financial debts43 | - | €3,562 | €5,936 | ▲ 66.6% |
| Other loans439 | - | €3,562 | €5,936 | ▲ 66.6% |
| Trade debts44 | €3,512 | €52,694 | €64,297 | ▲ 22.0% |
| Suppliers440/4 | €3,512 | €52,694 | €64,297 | ▲ 22.0% |
| Taxes, remuneration and social security45 | - | €12,035 | €3,238 | ▼ 73.1% |
| Taxes450/3 | - | €9,553 | €3,238 | ▼ 66.1% |
| Remuneration and social security454/9 | - | €2,481 | - | - |
| Other amounts payable47/48 | €61,616 | €79,882 | €115,796 | ▲ 45.0% |
| Accrued charges and deferred income492/3 | - | €333 | €114 | ▼ 65.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,509 | -€69,173 | -€39,514 | ▲ 42.9% |
| + Depreciation and write-downs630 | €3,741 | €19,226 | €21,175 | ▲ 10.1% |
| Operating cash flow (approximation) | -€14,767 | -€49,948 | -€18,338 | ▲ 63.3% |
| Investment in fixed assets (approximation) | - | -€70,193 | €0 | - |
| Change in cash | - | €4,754 | €7,599 | ▲ 59.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Shareholders
- Laurent VAN HAEREN 50 shares
- Audrey BALDEMOR OLETA 50 shares
- Sébastien VANDEN BERGHEN
- Julie BULTYNCK
- Sébastien VANDEN BERGHEN to Laurent VAN HAEREN 50 shares
- Julie BULTYNCK to Audrey BALDEMOR OLETA 50 shares
- VANDEN BERGHEN Sebastien Victor Myriam 50 shares (50%) · €2,500
- BULTYNCK Julie 50 shares (50%) · €2,500
Capital transactions
- 27-06-2023 Incorporation · €5,000 · 100 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Audrey BALDEMOR OLETA |
|
| Laurent VAN HAEREN |
|
| BULTYNCK Julie |
|
| VANDEN BERGHEN Sebastien Victor Myriam |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bestuursorgaan, 12”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Register van aandelen op naam, aandeelhouders mogen kennis nemen betreffende hun effecten”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “11, vrij overdragen geheel of deel”
Audit, dissolution and liquidation
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Bestuurder(s) in functie tenzij andere benoemd, vereffenaars aanduiden bevoegdheden omlijnen vergoeding bepalen”
Articles of association, deed of 27-06-2023 (in Dutch)
Network & group
Connections & network
2 connected companiesThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
21-10
Gazette deed
Resignations: Sébastien VANDEN BERGHEN (director) and Julie BULTYNCK (director)Appointments: Laurent VAN HAEREN (director) and Audrey BALDEMOR OLETA (director) · Director discharge · Share transfer15 points ▸
- General meeting, 13-07-2026
- Director resignation, Sébastien VANDEN BERGHEN (director)
- Director resignation, Julie BULTYNCK (director)
- Director discharge, Sébastien VANDEN BERGHEN
- Director discharge, Julie BULTYNCK
- Director appointment, Laurent VAN HAEREN (director)
- Director appointment, Audrey BALDEMOR OLETA (director)
- Share transfer, Sébastien VANDEN BERGHEN → Laurent VAN HAEREN
- Share transfer, Julie BULTYNCK → Audrey BALDEMOR OLETA
- Laurent VAN HAEREN holds 50 shares
- Audrey BALDEMOR OLETA holds 50 shares
- Sébastien VANDEN BERGHEN is a shareholder
- The act holds 3 more points.
27-06
Gazette deed
IncorporationAppointments: VANDEN BERGHEN Sebastien Victor Myriam (director) and BULTYNCK Julie (director) · Founder · Registered office clause12 points ▸
- Incorporation, “Seize 40” (deed in Dutch)
- Founder, VANDEN BERGHEN Sebastien Victor Myriam (comparant)
- Founder, BULTYNCK Julie (comparant)
- Registered office clause, “Waterloosesteenweg 212,1640 Sint-Genesius-Rode” (deed in Dutch)
- Founding capital, €5,000
- Bank account, “vennootschap in oprichting, deponering stortingen” (deed in Dutch)
- Declaration, “bevestiging deponering, deponering overeenkomstig Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Other provision, “heden, beschikking aanvangsvermogen” (deed in Dutch)
- Board rule, 2
- Director appointment, VANDEN BERGHEN Sebastien Victor Myriam (director)
- Director appointment, BULTYNCK Julie (director)
- Other provision, “dag verkrijging rechtspersoonlijkheid, begin werkzaamheden” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Text of the purpose
“Alle activiteiten die rechtstreeks of onrechtstreeks betrekking hebben op de restauratie in het algemeen en de Horeca sector,de organisatie van banketten en recepties,de catering,met inbegrip van de organisatie,het beheer en de uitbating van restaurants,bars,cafetaria’s,drankgelegenheid,alsmede alle verrichtingen van toerisme,hotelwezen,ontspanning en vrije tijd met inbegrip van de aankoop in groothandel en kleinhandel,de invoer en uitvoer van alle producten die rechtstreeks of onrechtstreeks op deze activiteiten betrekking hebben”
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 22552E0043/00G061 | Flanders | 4,496 m² | 1 · 1,400 m² | 15.7 m · 4 |