SHEZAN
ActiveSummary
The computed 12-month bankruptcy probability of SHEZAN is 1.6% (moderate). The 2025 annual accounts show equity of €233k and a net result of €861. Equity is growing by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 82% of 13305 sector peers (fiscal year 2025). The company has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▼-23
Solvency94▲+7
Growth47▼-21
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity short (current ratio 0.51 against 0.48 in 2024; short-term debt: 22% and cash: 8.1% of total assets), and 31.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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
Sector 56
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
68.6%
Return on assets
0.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
30 d late
2023
1 d early
2022
17 d early
2021
58 d early
2020
31 d late
2019
34 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€307k▼ 19.1%
2024 · €380k
2018: €284k
2019: €363k
2020: €330k
2021: €235k
2022: €235k
2023: €314k
2024: €380k
2018 → 2025
EBIT margin
3.5%▼ 18.8pp
2024 · 22.3%
2018: 18.1%
2019: 18.6%
2020: 20.5%
2021: 3.2%
2022: -3.7%
2023: 12.3%
2024: 22.3%
2018 → 2025
Net result
€861▼ 98.6%
2024 · €62k
2018: €40k
2019: €46k
2020: €50k
2021: €6k
2022: €-11k
2023: €31k
2024: €62k
2018 → 2025
Working capital
€-37k▲ 7.8%
2024 · €-40k
2018: €34k
2019: €72k
2020: €127k
2021: €68k
2022: €-33k
2023: €-27k
2024: €-40k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€235k-€235k▼ 0.1%€314k▲ 33.9%€380k▲ 20.9%€307k▼ 19.1%
Equity€149k-€138k▼ 7.1%€169k▲ 22.5%€232k▲ 36.7%€233k▲ 0.4%
Operating result€7k-€-9k€39k€85k▲ 119%€11k▼ 87.5%
Net result€6k-€-11k€31k€62k▲ 99.9%€861▼ 98.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 87% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €339k
Fixed assets
€302k ▼ 9.8%
Current assets
€38k ▲ 3.4%
Equity and liabilities €339k
Equity
€233k ▲ 0.4%
Debt
€107k ▼ 23.3%
Debt's share of the balance-sheet total falls from 37.5% to 31.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€48k▼
2024 · €116k
Cash flow
€38k▼
2024 · €94k
Current ratio
0.51▲
2024 · 0.48
Quick ratio
0.45▲
2024 · 0.42
Debt to equity
0.46▼
2024 · 0.60
ROE
0.4%▼
2024 · 26.9%
ROA
0.3%▼
2024 · 16.8%
Interest coverage
5.43▼
2024 · 24.29
Debt ≤ 1 year
€75k▼
2024 · €76k
Debt > 1 year
€32k▼
2024 · €63k
Income taxes
€1k▼
2024 · €18k
Staff costs
€77k▲
2024 · €69k
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 · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€371k€339k▼
Fixed assets21/28€334k€302k▼
Tangible fixed assets22/27€333k€300k▼
Plant, machinery and equipment23€279k€258k▼
Furniture and vehicles24€54k€42k▼
Financial fixed assets28€1k€1k=
Current assets29/58€36k€38k▲
Stocks and contracts in progress3€4k€4k=
Stocks30/36€4k€4k=
Amounts receivable within one year40/41€522€6k▲
Trade receivables40€522€6k▲
Cash at bank and in hand54/58€31k€27k▼
Deferred charges and accrued income490/1€838-
Equity and liabilities
Total equity and liabilities10/49€371k€339k▼
Equity10/15€232k€233k▲
Contributions10/11€22k€22k=
Reserves13€20k€20k=
Distributable reserves133€20k€20k=
Profit (loss) carried forward14€189k€190k▲
Amounts payable17/49€139k€107k▼
Amounts payable after more than one year17€63k€32k▼
Financial debts170/4€63k€32k▼
Amounts payable within one year42/48€76k€75k▼
Current portion of amounts payable after more than one year42€15k€15k▲
Trade debts44€16k€19k▲
Suppliers440/4€16k€19k▲
Advances received on contracts in progress46-€1k
Taxes, remuneration and social security45€25k€19k▼
Taxes450/3€16k€13k▼
Remuneration and social security454/9€8k€6k▼
Other amounts payable47/48€21k€20k▼
Income statement
Code20242025
Turnover70€380k€307k▼
Goods, raw materials, services and sundry goods60/61€188k€192k▲
Remuneration, social security and pensions62€69k€77k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€37k▲
Other operating charges640/8€7k€4k▼
Gross operating margin9900€192k€129k▼
Operating profit (loss)9901€85k€11k▼
Financial income75/76B€118€128▲
Recurring financial income75€118€128▲
Financial charges65/66B€5k€9k▲
Recurring financial charges65€5k€9k▲
Profit (loss) for the period before taxes9903€80k€2k▼
Income taxes67/77€18k€1k▼
Profit (loss) for the period9904€62k€861▼
Profit (loss) for the period to be appropriated9905€62k€861▼
Appropriation of the result
Profit (loss) to be appropriated9906€189k€190k▲
Profit (loss) brought forward from the previous period14P€127k€189k▲
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-12
Financial
Highest result since 2018net €62k ▲99.9%
Operating result €85k, net result €62k, both a record.
31-12
Financial
Equity above €200kEq €232k ▲36.7%
2 profitable years in a row build equity to €232k.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €31k
Net result €31k after one loss-making year.
31-12
Financial
Equity above €150kEq €169k ▲22.5%
Equity rises from €138k to €169k.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-11k ▼271%
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €100kEq €143k ▲53.5%
3 profitable years in a row build equity to €143k.
Show earlier events
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 34 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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, Elsene · 1 establishment unit since 1987
Ground area
310 m²
Building footprint
281 m²
Volume, LiDAR
2,579 m³
Parcel 21009A0873/00Y011, Brussels · tallest building 17.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SHEZAN RESTAURANT
since 19872.029.795.571
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0873/00Y011 | Brussels | 310 m² | 1 · 281 m² | 17.0 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteElsene2.029.795.571
Similar companies · same sector, comparable size
NEW SQUARE
BE 0473.418.990
Putte · Eq €232,574
NEA GENIA
BE 0866.463.287
Elsene · Eq €232,505
SCHAUBROECK
BE 0432.240.809
Tielt · Eq €232,696
E.L.B.
BE 0449.110.394
Merchtem · Eq €232,482
BOLIVER
BE 0870.151.861
Merelbeke-Melle · Eq €232,474
Of 20,493 companies in sector 56111 we hold annual accounts for 11,461. 8,221 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
Founded27-07-1987
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.