Debts
€59,200 90% of the balance sheet
Financial debts 66%Suppliers 23%Taxes and wages 8%Other 3%
Of this, €20,361 falls due within a year.
SHEYS
Overview
Lifetime
1 annual account with figurespeak €290,257 (2025)
€290,257
lowest -€4,637 (2025)
-€4,637
peak €6,226 (2025)
€6,226
€59,200
Board2 names since 2024
1 directorMuhammad Fiaz Khan
Documentsfilings and deeds
14-09-202645 days late
2025micro format
Key points
from the 2025 annual accountsStarting capital
€8,000 100 shares
2025 accounts filed 45 days after the deadline
Checked score
54
Fair
Financially stronger than 46% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.9% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,271 companies (NACE 47, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
07-2025: 1.9%lowest value
08-2025: 1.9%● unchanged vs 07-2025
09-2025: 2.0%▲ +0.1 percentage points vs 08-2025
10-2025: 2.4%▲ +0.4 percentage points vs 09-2025
11-2025: 2.7%▲ +0.3 percentage points vs 10-2025
12-2025: 2.7%● unchanged vs 11-2025
01-2026: 3.0%▲ +0.3 percentage points vs 12-2025
02-2026: 3.4%▲ +0.4 percentage points vs 01-2026
03-2026: 3.3%▼ -0.1 percentage points vs 02-2026
04-2026: 3.3%● unchanged vs 03-2026
05-2026: 3.6%▲ +0.3 percentage points vs 04-2026
06-2026: 3.7%▲ +0.1 percentage points vs 05-2026
07-2026: 3.8%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 3.8%● unchanged vs 07-2026highest value
09-2026: 3.8%● unchanged vs 08-2026highest value
10-2026: 1.9%▼ -1.9 percentage points vs 09-2026
11-2026: 1.9%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Founded in 2024
Last filed accounts filed 45 days late; 1 of the last 3 accounts late
Size: turnover €290,257, total assets €65,426
lowers risk
Liquidity: current ratio 3.05, cash €44,236
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 47, micro). It does better than 26% of them on solvency, 89% on liquidity and 22% on profitability.
The bankruptcy probability was computed on 08-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% 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).
Comparable companies, two years later
In July 2024, 1,301 companies had the same profile as SHEYS has now. Each dot stands for 4 companies, two years later.
92.6%
were still trading
1.6%
stopped another way
5.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SHEYS itself: 1.9% within 12 months.
Test of the method
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 1,301 companies, not a prediction for SHEYS. 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.
Credit check for an amount and term of your choice
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.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 45 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-09-2026, 45 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 1 filingDeviation from the deadline
2025
45 days late
← before the deadline
after the deadline →
Searched, nothing found (1)
Board and ownership
- Muhammad Fiaz Khan 90 sharesdeed of 02-01-2025
- Waheed Najmi Abdul 10 sharesdeed of 02-01-2025
Recent changes
New establishment in Pittem
Tieltstraat 40
New establishment in Mouscron
Spoorarbeidersstraat 11
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1010103461
Resignation: Enayat Shafiqa (director)
Transfer of 90 shares from Enayat Shafiqa to Muhammad Fiaz Khan · Transfer of 10 shares from Enayat Shafiqa to Waheed Najmi Abdul · Appointment: Muhammad Fiaz Khan (director) · General meeting of 19-12-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| SHEYS Brussels | €290,257 | -1.5% | 9.5% | - |
| RAFO Anderlecht | €59,477 | -37.2% | -16.4% | - |
| LUXALAD CHATELAIN Ixelles | €40,918 | -12.9% | -10.3% | - |
| RKBL Vilvoorde | - | - | 13.0% | - |
| CODEVCO XVII Halle | - | - | 95.9% | - |
| GROUP 1618 Zaventem | - | - | -4.7% | - |
| TIRRENO Mons | - | - | 24.9% | - |
Grey: the largest companies of the sector (retail trade (NACE 47)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as SHEYS: non-specialised retail sale with food, beverages or tobacco predominating (NACE 47110). They are comparable in size and age: total assets between €51,100 and €78,500, founded between 2023 and 2024.
Official details
Source: KBO- Status
- Active since 06-06-2024Normal situation
- Activity
- Non-specialised retail sale with food, beverages or tobacco predominatingNACE 47110and 3 others
- Establishment units
- 2.360.375.3331000 Brussels, since 06-06-2024
- 2.384.360.8597712 Mouscron, since 20-01-2026and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 05-12-2025
Insights on SHEYS
The computed 12-month bankruptcy probability of SHEYS is 1.9% (moderate). The 2025 annual accounts show equity of €6,226 and a net result of -€4,637.
Its solvency ranks better than 29% of 22,917 sector peers (NACE 47, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 14-09-2026, 45 days late€290,257
-€4,447
-
-
9.5%
3.05
Money flows
of every €100 of turnover, €1.60 was lost in 2025Balance sheet
balance sheet total €65,426 on 31-12-2025What the company ownsHow it is paid for
Position in the sector
9.5%
Higher than 29% of 22,917 companies in 2025.
3.05
Higher than 77% of 22,047 companies in 2025.
-7.1%
Higher than 20% of 22,197 companies in 2025.
SHEYS
Middle half of the sector
80% of the sector
Micro accounts in retail trade (NACE 47)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
65,426 | |
21/28 |
3,300 | |
28 |
3,300 | |
29/58 |
62,126 | |
3 |
14,500 | |
30/36 |
14,500 | |
40/41 |
3,390 | |
41 |
3,390 | |
54/58 |
44,236 | |
| Balance sheet: equity and liabilities | ||
10/49 |
65,426 | |
10/15 |
6,226 | |
14 |
6,226 | |
17/49 |
59,200 | |
17 |
38,839 | |
170/4 |
38,839 | |
42/48 |
20,361 | |
44 |
13,757 | |
440/4 |
13,757 | |
45 |
4,636 | |
450/3 |
3,621 | |
454/9 |
1,015 | |
47/48 |
1,968 | |
| Income statement | ||
70 |
290,257 | |
9900 |
575 | |
60/61 |
294,458 | |
640/8 |
5,022 | |
9901 |
-4,447 | |
65/66B |
190 | |
65 |
190 | |
9903 |
-4,637 | |
9904 |
-4,637 | |
9905 |
-4,637 | |
| Appropriation of the result | ||
9906 |
6,226 | |
14P |
10,863 | |
| Document | ||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 14-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 45 days after the deadline. Filed on 14 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00512444.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 14-09-2026 | 2026-00512444 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 |
|---|---|---|
| 3,300 | ||
| 41,765 | ||
| -1.5% | ||
| 9.5% | ||
| 3.05 | ||
| 2.34 | ||
| 9.51 | ||
| -74.5% | ||
| -7.1% | ||
| 4 days | ||
| 17 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 |
|---|---|
| Financial fixed assets | €3,300 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Insights on SHEYS
Debt's share of the balance-sheet total is 90.5%.
Board & ownership
Board
1 director, no change since December 2024Director
appointed by deed of 02-01-2025
listed in the 2025 annual accounts, filed on 14-09-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 10-06-2024
Mandates through the years
2 names, the dashed line is todayMuhammad Fiaz Khan
Director
Director
Enayat Shafiqa
Director (not named in the articles)
Director (not named in the articles)
BoardEarlier
Mandates as a list
- Muhammad Fiaz Khan
- Director, appointed by deed of 02-01-2025, still in office
- Enayat Shafiqa
- Director (not named in the articles), appointed by deed of 10-06-2024, until 19-12-2024
Control
Shareholders
Muhammad Fiaz Khan, Waheed Najmi Abdul
This company
SHEYS
Equity €6,226
Loss €4,637 in 2025
Capital
- Contribution
- €8,000
- Shares
- 100
- Contribution per share
- €80
- Equity per share
- €62.26 in 2025
- Source
- deed of 10-06-2024
Articles of association
deed of 10-06-2024 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Monday of June at 18:00
Shareholders
Stated in the deed
deed of 02-01-2025 ↗
- Muhammad Fiaz Khan 90 shares
- Waheed Najmi Abdul 10 shares
Share transfer
deed of 02-01-2025 ↗
- Enayat Shafiqa to Muhammad Fiaz Khan 90 shares
- Enayat Shafiqa to Waheed Najmi Abdul 10 shares
At incorporation
deed of 10-06-2024 ↗
- ENAYAT Shafiqa 50 shares (50%) · €4,000
- ENAYAT Waheedullah 50 shares (50%) · €4,000
Network & group
No group
SHEYS has no parent and no holdings in its annual accounts. Muhammad Fiaz Khan is the only director. SHEYS shares no director with another company.
At the same address
Rijkeklarenstraat 9, 1000 Brussels · 3 other companies| COUP DE POUCE POUR TOUS
registered office since 06-07-2018 |
founded in 2018 0699.695.444 |
| Gieskes, Bertin (sole trader)
establishment since 06-11-1998 |
founded in 1998 0534.353.994 |
| Chez André
registered office since 24-08-1967 |
founded in 1967 0402.779.731 |
Timeline
Timeline
7 events since 2024Board
Capital
Filings
Establishments
202420252026
2026
Annual accounts 2025 filed NBBmicro format · 45 days late
New establishment in Pittem Tieltstraat 40
New establishment in Mouscron Spoorarbeidersstraat 11
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:1010103461
Resignation: Enayat Shafiqa (director)Transfer of 90 shares from Enayat Shafiqa to Muhammad Fiaz Khan · Transfer of 10 shares from Enayat Shafiqa to Waheed Najmi Abdul · Appointment: Muhammad Fiaz Khan (director) · General meeting of 19-12-20248 points ▸
- General meeting, 19-12-2024
- Director resignation, Enayat Shafiqa
- Director discharge, Enayat Shafiqa
- Director appointment, Muhammad Fiaz Khan
- Share transfer, Enayat Shafiqa → Muhammad Fiaz Khan, 90 shares
- Share transfer, Enayat Shafiqa → Waheed Najmi Abdul, 10 shares
- Muhammad Fiaz Khan holds 90 shares
- Waheed Najmi Abdul holds 10 shares
- The deed holds 2 more points.
2024
IncorporationFounding capital of €8,000, 100 shares · Founders: ENAYAT Shafiqa and ENAYAT Waheedullah · Appointment: ENAYAT Shafiqa (director) · published on 10-06-20245 points ▸
- Founder, ENAYAT Shafiqa
- Founder, ENAYAT Waheedullah
- Founding capital, €8,000, 100 shares
- Registered office clause, 1000Bruxelles, ruedesRichesClaires9
- Director appointment, ENAYAT Shafiqa (director (not named in the articles))
- The deed holds 6 more points.
First establishment Rijkeklarenstraat 9, Brussels
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
SHEYS was incorporated on 6 June 2024 as a private limited company by two natural persons, with a starting capital of €8,000.12 Muhammad Fiaz Khan is director of the company, appointed by deed of 02-01-2025.3 The company has filed annual accounts once, for financial year 2025.4
Company details
Identity
- Enterprise number
- 1010.103.461
- VAT number
- BE 1010.103.461
- Peppol ID
- 0208:1010103461
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 06-06-2024
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Monday of June at 18:00deed of 10-06-2024 (in French)
- Peppol
- Reachable since 05-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- SHEYS in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 10-06-2024 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région de Bruxelles Capitale”deed of 10-06-2024 (in French)
Activities
NACEBEL 2025VAT activities
47110
Non-specialised retail sale with food, beverages or tobacco predominating main activity
47271
Retail trade
Social security (RSZ) activities
47110
Non-specialised retail sale with food, beverages or tobacco predominating main activity
Codes under NACEBEL 2008
47112
Retail trade main activity
47111
Retail trade
47242
Retail trade
47252
Retail trade
47291
Retail trade
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Le commerce d’alimentation générale,fruits et légumes,boissons alcoolisées ou non alcoolisées,confiserie,tabac,etc…”deed of 10-06-2024 (in French)
Registered office and establishments
3 establishments| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Rijkeklarenstraat 9 registered office 1000 Brussels | 06-06-2024 | 2.360.375.333 | Retail trade |
| Spoorarbeidersstraat 11 7712 Mouscron | 20-01-2026 | 2.384.360.859 | Retail trade |
| Tieltstraat 40 8740 Pittem | 22-06-2026 | 2.390.321.411 |
Buildings and parcels at the addresses
- Ground area
- 531 m²
- Buildings
- 384 m²
- Volume, LiDAR
- 3,953 m³
- Tallest building
- 19.3 m
Buildings to scale, each on its own parcel
Parcels
Flanders
1
(33.3%)
Wallonia
1
(33.3%)
Brussels
1
(33.3%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 54004K0597/00A000 | Wallonia | 287 m² | 1 · 124 m² | 12.7 m · 3 |
| 37011A1036/00B002 | Flanders | 133 m² | 1 · 168 m² | 10.1 m · 2 |
| 21811M1075/00C000 | Brussels | 111 m² | 1 · 92 m² | 19.3 m · 6 |
Recognitions
Food safety, FASFC
2 sitesBrusselsunit number 2.360.375.333
Mouscron/Moeskroenunit number 2.384.360.859