Equity
SIX NATIONS has made a profit without a break since 2021.
SIX NATIONS has made a profit without a break since 2021.
Of this, €262,483 falls due within a year.
Three of the last ten came late. The 2020 accounts came latest: 59 days after the end of the period.
The dashed line is the sector median: 1.8% across 23,779 companies (NACE 56, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 37% of them on solvency, 52% on liquidity, 31% on profitability and 42% on growth.
The bankruptcy probability was computed on 04-11-2026 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).
In July 2024, 4,508 companies had the same profile as SIX NATIONS has now. Each dot stands for 12 companies, two years later.
That fits the bankruptcy probability of SIX NATIONS itself: 1.6% within 12 months.
The method was tested on the 497,446 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 4,508 companies, not a prediction for SIX NATIONS. 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.
Liquidity is insufficient, with a current ratio of 0.14 (0.38 in 2024), below 1. Short-term debt is 12% and cash 1.1% of total assets. 84.8% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 2 days before 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.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| SIX NATIONS Brussels | €2.2m | €584,379 | 15.2% | 9.9 |
| TIMBA Bruges | €2.1m | €553,898 | 27.2% | 9.8 |
| FIT FIVE Brussels | €1.8m | €817,116 | 50.1% | 10.8 |
| DE BRALLE Heuvelland | €2.7m | €578,551 | 18.1% | 7.3 |
| Starlette Kortrijk | €1.7m | €599,692 | 24.8% | 6.7 |
| CROSS ROAST Antwerp | €1.6m | €782,620 | 20.9% | 7.6 |
| COLLAZZONE Sint-Truiden | €1.4m | €623,365 | 49.2% | 11.2 |
These companies have the same main activity as SIX NATIONS: cafés and bars (NACE 56301). They are comparable in size and age: total assets between €1.4m and €2.7m, founded between 2007 and 2015.
SIX NATIONS has existed since 2010. In 2019 the gross margin rose from €171,198 to €348,910.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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