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Complete company report
Generated 02-08-2026
Active BE 0645.672.085Public limited company

SO SAGA

Place des Carmes 7 ·4000 Liège, Belgium· 10 yrs active
Sector: Cafés (56301)
Conclusion Checked

The computed 12-month bankruptcy probability of SO SAGA is 1.6% (moderate). The 2024 annual accounts show equity of €68k and a net result of €4k. Equity is shrinking by ~12% per year across the filed fiscal years. Its solvency ranks better than 62% of 330 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.
Key figures
Equity €68k
Net result €4k
Staff (FTE) 11
Better than sector 62%
Snowflake analysis 5 axes · computed by Checked
Health44Profitability30Solvency19Growth58Stability100
50 / 100

Mixed profile: strong on stability, weaker on solvency.

Health 44
Profitability 30
Solvency 19
Growth 58
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
1.6% Moderate
0%0,5%1,5%4%10%≥25%
Higher-failure-rate sector +Lower-risk legal form −Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
Established
Founded in 2016, 10 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2024 · computed
44 / 100 Weak
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview9 NBB filings
Annual accounts filed on 09-04-2025 with the NBB · fiscal year 2024 · volledig
€-100k€-50k€0Operating result 2020: €7k€7kNet result 2020: €-97k€-97kOperating result 2021: €22k€22kNet result 2021: €15k€15kOperating result 2022: €-22k€-22kNet result 2022: €-35k€-35kOperating result 2023: €-5k€-5kNet result 2023: €-19k€-19kOperating result 2024: €17k€17kNet result 2024: €4k€4k20202021202220232024
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~12%/year over 7 fiscal years, indicative, assuming unchanged policy.
€-50k€0€50k€100k€150k2025: €53k (€37k - €69k)2026: €43k (€17k - €69k)2027: €33k (€-3k - €69k)2018: €139k2019: €56k2020: €103k2021: €118k2022: €83k2023: €64k2024: €68k2018201920202021202220232024202520262027
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2024 · NACE 56, Food & beverage service · compared within the same schema type (full schema)
Metric This company Sector median Position in the sector
Solvency 21.8% 11.7%
better than 62% of 330 sector peers
Net result €4k €2k
better than 52% of 330 sector peers
Equity €68k €17k
better than 66% of 330 sector peers
Gross operating margin €462k €184k
better than 70% of 320 sector peers
Staff costs €389k €223k
higher than 69% of 274 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€59k
+53.2% far above sector median
Net profit
€4k
- far above sector median
Cash flow
€46k
+87.0% far above sector median
Total assets
€310k
-9.4% -7% vs sector
Equity
€68k
+6.4% -54% vs sector
Working capital
€-123k
-18.5% far below sector median
Employees (FTE)
11
-4.3% -14% vs sector
Staff costs
€389k
-11.5% -19% vs sector
Income taxes
€160
-4.9% -99% vs sector
Debt
€243k
-13.1% -14% vs sector
Debt ≤ 1y
€214k
+6.0% +52% vs sector
Debt > 1y
€29k
-61.9% -90% vs sector
Current ratio
0.43
-12.4% -77% vs sector
Quick ratio
0.31
-18.2% -83% vs sector
Solvency
21.8%
+17.5% -40% vs sector
Debt / equity
3.58
-18.3% far above sector median
ROE
6.0%
- -87% vs sector
ROA
1.3%
- far above sector median
Interest coverage
3.93
+41.7% far above sector median
Figures by fiscal year
Fiscal year2024
Revenue-
EBITDA€59k
Net profit€4k
Cash flow€46k
Staff costs€389k
Income taxes€160
Dividends-
Total assets€310k
Equity€68k
Debt€243k
of which ≤ 1y€214k
of which > 1y€29k
Working capital€-123k
Employees (FTE)11.0
Ratios (computed)
2024
Current ratio0.43
Quick ratio0.31
Working capital ratio-39.6%
Solvency21.8%
Debt / equity3.58
Long-term debt ratio0.42
Interest coverage3.93
Gross margin-
Net margin-
ROA1.3%
ROE6.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€310k
Fixed assets 21/28€219k
Intangible fixed assets 21€128k
Tangible fixed assets 22/27€91k
Financial fixed assets 28€150
Current assets 29/58€91k
Stocks & contracts in progress 3€26k
Amounts receivable within one year 40/41€34k
Cash & bank 54/58€28k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€310k
Equity 10/15€68k
Contributions / capital 10/11€200k
Accumulated profits (losses) 14€-132k
Amounts payable 17/49€243k
Amounts payable after one year 17€29k
Amounts payable within one year 42/48€214k
Trade debts payable within one year 44€46k
Income statement
Gross operating margin 9900€462k
Operating result 9901€17k
Financial income 75€2k
Financial charges 65€15k
Result before taxes 9903€4k
Income taxes 67/77€160
Net result for the period 9904€4k
Result to be appropriated 9905€4k
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Legal Structure
NACE primary Cafés(56301)
Legal form Public limited company(014)
Incorporation07-01-2016
StatusActive
Postal code4000
Establishment units 1 location
SO SAGA
Place des Carmes 7, 4000 LiègeEetgelegenheden met beperkte bediening
since 20162.248.769.410
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62063A1645/00E005 Wallonia 777 m² 1 · 174 m² 35.6 m · 11 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 10 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
29-08-2025
State Gazette act Director changes
09-04-2025
NBB filing Annual accounts filed
fiscal year 2024 · volledig
2024
27-06-2024
NBB filing Annual accounts filed
fiscal year 2023 · volledig
2023
01-08-2023
NBB filing Annual accounts filed
fiscal year 2022 · volledig
2022
05-08-2022
NBB filing Annual accounts filed
fiscal year 2021 · volledig
2021
31-07-2021
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2020
31-07-2020
NBB filing Annual accounts filed
fiscal year 2019 · volledig
2019
30-08-2019
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2018
31-07-2018
NBB filing Annual accounts filed
fiscal year 2017 · volledig
2017
31-07-2017
NBB filing Annual accounts filed
fiscal year 2016 · volledig
Belgisch Staatsblad, acts 1 acts
All acts · 1 updated 11 months ago
2025
29-08-2025 4 directors appointed, 2 resigning, 1 reappointed Director changes
  • Jordan MARICHAL, Gedelegeerd bestuurder
  • Xavler DEGIVE, Gedelegeerd bestuurder
  • Maxime BAISI, Directeur
  • Jordan MARICHAL, Secretaris
  • Alexis KLEINEN, Gedelegeerd bestuurder
  • Maxime BAISI, Gedelegeerd bestuurder
  • Maxime BAISI, Gedelegeerd bestuurder
Technical details 
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Credit advice verdict per customer and amount

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Activities
Cafés en bars56301Cafés en bars56301Eetgelegenheden met beperkte bediening56102Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden56112
Primary activity highlighted.
Names & trade names
Legal nameFR SO SAGA
Registered office
Place des Carmes 7
4000 Liège, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative