SELSation
ActiveSummary
The computed 12-month bankruptcy probability of SELSation is 1.8% (moderate). The 2024 annual accounts show equity of €312,194 and a net result of €43,583. Equity is growing by ~24% per year across the filed fiscal years. Its solvency ranks better than 92% of 18930 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability83▲+3
Solvency100▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 5.97 against 3.38 in 2023; short-term debt: 15.5% and cash: 88% of total assets), and 17.2% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
16 d late
2022
32 d early
2021
18 d early
2020
51 d early
2019
46 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€312,194▲ 16.2%
2023 · €268,611
Total assets
€376,880▲ 0.7%
2023 · €374,335
Net result
€43,583▲ 28.3%
2023 · €33,958
Working capital
€289,499▲ 21.9%
2023 · €237,571
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€72,665▼ 0.8%€49,631▼ 31.7%€67,977▲ 37.0%€46,985▼ 30.9%€60,148▲ 28.0%
Net result€57,042above the sector's middle half▼ 2.3%€40,714above the sector's middle half▼ 28.6%€47,852above the sector's middle half▲ 17.5%€33,958above the sector's middle half▼ 29.0%€43,583above the sector's middle half▲ 28.3%
Equity€146,087above the sector's middle half▲ 64.1%€186,801above the sector's middle half▲ 27.9%€234,653above the sector's middle half▲ 25.6%€268,611above the sector's middle half▲ 14.5%€312,194above the sector's middle half▲ 16.2%
Total assets€280,675above the sector's middle half▲ 48.8%€361,884above the sector's middle half▲ 28.9%€350,979above the sector's middle half▼ 3.0%€374,335above the sector's middle half▲ 6.7%€376,880above the sector's middle half▲ 0.7%
Debt€134,588▲ 35.1%€175,083▲ 30.1%€116,325▼ 33.6%€105,724▼ 9.1%€64,686▼ 38.8%
Working capital€82,939▲ 397%€135,691▲ 63.6%€197,397▲ 45.5%€237,571▲ 20.4%€289,499▲ 21.9%
Solvency52.0%within the sector's middle half▲ 4.8pp51.6%within the sector's middle half▼ 0.4pp66.9%above the sector's middle half▲ 15.2pp71.8%above the sector's middle half▲ 4.9pp82.8%above the sector's middle half▲ 11.1pp
Staff (FTE)0.6below the sector's middle half▲ 20.0%1.4▲ 133%2.7▲ 92.9%2.8▲ 3.7%2.5▼ 10.7%
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 28% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €376,880
Fixed assets
€29,134 ▼ 21.0%
Current assets
€347,745 ▲ 3.0%
Equity and liabilities €376,880
Equity
€312,194 ▲ 16.2%
Debt
€64,686 ▼ 38.8%
Debt's share of the balance-sheet total falls from 28.2% to 17.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€67,884▲
2023 · €56,175
Cash flow
€51,319▲
2023 · €43,148
Current ratio
5.97▲
2023 · 3.38
Quick ratio
5.74▲
2023 · 3.27
Debt to equity
0.21▼
2023 · 0.39
ROE
14.0%▲
2023 · 12.6%
ROA
11.6%▲
2023 · 9.1%
Interest coverage
19.26▼
2023 · 22.34
Debt ≤ 1 year
€58,246▼
2023 · €99,894
Income taxes
€13,046▲
2023 · €10,513
Staff costs
€6,643▼
2023 · €8,041
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €10,456 | - | - |
| Remuneration, social security and pensions62 | - | €4,781 | €8,549 | €8,041 | €6,643 | ▼ 17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,138 | €11,104 | €9,739 | €9,190 | €7,736 | ▼ 15.8% |
| Other operating charges640/8 | - | €449 | €1,377 | €1,430 | €1,544 | ▲ 8.0% |
| Gross operating margin9900 | €89,462 | €65,965 | €87,642 | €65,647 | €76,071 | ▲ 15.9% |
| Operating profit (loss)9901 | €72,665 | €49,631 | €67,977 | €46,985 | €60,148 | ▲ 28.0% |
| Financial income75/76B | - | - | - | - | €5 | - |
| Recurring financial income75 | - | - | - | - | €5 | - |
| Financial charges65/66B | - | €652 | €402 | €2,514 | €3,524 | ▲ 40.2% |
| Recurring financial charges65 | €422 | €652 | €402 | €2,514 | €3,524 | ▲ 40.2% |
| Profit (loss) for the period before taxes9903 | €72,243 | €48,980 | €67,575 | €44,471 | €56,629 | ▲ 27.3% |
| Income taxes67/77 | €15,201 | €8,266 | €19,723 | €10,513 | €13,046 | ▲ 24.1% |
| Profit (loss) for the period9904 | €57,042 | €40,714 | €47,852 | €33,958 | €43,583 | ▲ 28.3% |
| Profit (loss) for the period to be appropriated9905 | €57,042 | €40,714 | €47,852 | €33,958 | €43,583 | ▲ 28.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €280,675 | €361,884 | €350,979 | €374,335 | €376,880 | ▲ 0.7% |
| Fixed assets21/28 | €63,149 | €53,500 | €43,761 | €36,871 | €29,134 | ▼ 21.0% |
| Intangible fixed assets21 | €2,500 | €1,500 | €500 | - | - | - |
| Tangible fixed assets22/27 | €60,649 | €52,000 | €43,261 | €36,871 | €29,134 | ▼ 21.0% |
| Plant, machinery and equipment23 | - | €2,301 | €1,068 | €2,184 | €1,954 | ▼ 10.5% |
| Other tangible fixed assets26 | - | €49,699 | €42,193 | €34,687 | €27,180 | ▼ 21.6% |
| Current assets29/58 | €217,527 | €308,384 | €307,218 | €337,465 | €347,745 | ▲ 3.0% |
| Stocks and contracts in progress3 | €8,242 | €8,068 | €10,278 | €11,307 | €13,183 | ▲ 16.6% |
| Stocks30/36 | - | €8,068 | €10,278 | €11,307 | €13,183 | ▲ 16.6% |
| Amounts receivable within one year40/41 | €4,107 | €630 | €170 | - | €2,954 | - |
| Trade receivables40 | - | €630 | €170 | - | - | - |
| Other amounts receivable41 | - | - | - | - | €2,954 | - |
| Cash at bank and in hand54/58 | €205,177 | €299,686 | €296,372 | €325,613 | €331,608 | ▲ 1.8% |
| Deferred charges and accrued income490/1 | - | - | €398 | €545 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €280,675 | €361,884 | €350,979 | €374,335 | €376,880 | ▲ 0.7% |
| Equity10/15 | €146,087 | €186,801 | €234,653 | €268,611 | €312,194 | ▲ 16.2% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €127,487 | €168,201 | €216,053 | €250,011 | €293,594 | ▲ 17.4% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €166,341 | €214,193 | €250,011 | €293,594 | ▲ 17.4% |
| Amounts payable17/49 | €134,588 | €175,083 | €116,325 | €105,724 | €64,686 | ▼ 38.8% |
| Amounts payable within one year42/48 | €134,588 | €172,692 | €109,821 | €99,894 | €58,246 | ▼ 41.7% |
| Trade debts44 | €1,885 | - | €2,104 | €9,553 | €1,818 | ▼ 81.0% |
| Suppliers440/4 | - | - | €2,104 | €9,553 | €1,818 | ▼ 81.0% |
| Taxes, remuneration and social security45 | - | €36,350 | €24,742 | €21,961 | €9,578 | ▼ 56.4% |
| Taxes450/3 | - | €32,449 | €19,871 | €17,425 | €9,192 | ▼ 47.2% |
| Remuneration and social security454/9 | - | €3,901 | €4,871 | €4,536 | €386 | ▼ 91.5% |
| Other amounts payable47/48 | - | €136,342 | €82,974 | €68,379 | €46,851 | ▼ 31.5% |
| Accrued charges and deferred income492/3 | - | €2,390 | €6,505 | €5,830 | €6,440 | ▲ 10.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,042 | €40,714 | €47,852 | €33,958 | €43,583 | ▲ 28.3% |
| + Depreciation and write-downs630 | €12,138 | €11,104 | €9,739 | €9,190 | €7,736 | ▼ 15.8% |
| Operating cash flow (approximation) | €69,180 | €51,818 | €57,592 | €43,148 | €51,319 | ▲ 18.9% |
| Investment in fixed assets (approximation) | - | -€1,455 | €0 | -€2,300 | €0 | ▲ 100% |
| Change in cash | - | €94,509 | -€3,314 | €29,241 | €5,995 | ▼ 79.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
16-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 16 days late
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €234,653 ▲25.6%
5 profitable years in a row build equity to €234,653.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150,000Eq €186,801 ▲27.9%
4 profitable years in a row build equity to €186,801.
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €100,000Eq €146,087 ▲64.1%
3 profitable years in a row build equity to €146,087.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €58,393 ▲384%
Operating result €73,270, net result €58,393, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.17
Current ratio from 0.48 to 1.17.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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
Registered office, Hemiksem · 1 establishment unit since 2018
Ground area
368 m²
Building footprint
120 m²
Volume, LiDAR
624 m³
Parcel 11018B0088/00L004, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SELSation
since 20182.280.327.171
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11018B0088/00L004 | Flanders | 368 m² | 1 · 119 m² | 10.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHemiksem2.280.327.171
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Of 20,505 companies in sector 56111 we hold annual accounts for 11,464. 7,563 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56210Event catering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0704713314
Also
9925:BE0704713314
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.