SUBARE
ActiveSummary
The computed 12-month bankruptcy probability of SUBARE is 3.1% (moderate). The 2025 annual accounts show equity of €51,345 and a net result of €14,791. Its solvency ranks better than 95% of 16,893 sector peers (NACE 56, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 1 FTE
- Equity
- €51,345
- Profit
- €14,791
Why 53raises riskSize: turnover €197,454, total assets €55,510Founded in 2023Sector: Food and beverage service activities (NACE 56)lowers riskLiquidity: current ratio 13.33, cash €42,510Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 94% on solvency, 99% on liquidity, 77% on profitability and 78% on growth.
The bankruptcy probability was computed on 29-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 32 days after the deadline; the sector median (NACE 56) for financial year 2024 is 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Registered office · Capital & shares…Share transfer · Registered-office move…
- Liquidity more than 7 timescurrent ratio 13.33
Financials · financial year 2025, micro format
2025 annual accounts filed late (63 days) Filed on 2 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00545285.
2024 to 2025, 2 financial years
The operating result falls in 2025; 2025 is 47% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 56, Food and beverage service activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a higher bankruptcy probability: 3.1% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 39,278 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Turnover70 | - | €197,454 | - |
| Goods, raw materials, services and sundry goods60/61 | - | €120,346 | - |
| Remuneration, social security and pensions62 | - | €54,045 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €303 | €2,697 | ▲ 789% |
| Other operating charges640/8 | €1,337 | - | - |
| Gross operating margin9900 | €40,208 | €77,108 | ▲ 91.8% |
| Operating profit (loss)9901 | €38,568 | €20,366 | ▼ 47.2% |
| Financial income75/76B | €63 | - | - |
| Recurring financial income75 | €63 | - | - |
| Financial charges65/66B | €2,737 | €1,877 | ▼ 31.4% |
| Recurring financial charges65 | €2,737 | €1,877 | ▼ 31.4% |
| Profit (loss) for the period before taxes9903 | €35,894 | €18,489 | ▼ 48.5% |
| Income taxes67/77 | - | €3,698 | - |
| Profit (loss) for the period9904 | €35,894 | €14,791 | ▼ 58.8% |
| Profit (loss) for the period to be appropriated9905 | €35,894 | €14,791 | ▼ 58.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €75,801 | €55,510 | ▼ 26.8% |
| Fixed assets21/28 | €2,697 | - | - |
| Intangible fixed assets21 | €2,697 | - | - |
| Current assets29/58 | €73,104 | €55,510 | ▼ 24.1% |
| Stocks and contracts in progress3 | €12,350 | €13,000 | ▲ 5.3% |
| Stocks30/36 | €12,350 | €13,000 | ▲ 5.3% |
| Amounts receivable within one year40/41 | €25,155 | - | - |
| Trade receivables40 | €799 | - | - |
| Other amounts receivable41 | €24,356 | - | - |
| Cash at bank and in hand54/58 | €35,599 | €42,510 | ▲ 19.4% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €75,801 | €55,510 | ▼ 26.8% |
| Equity10/15 | €36,554 | €51,345 | ▲ 40.5% |
| Contributions10/11 | €660 | €36,554 | ▲ 55× |
| Profit (loss) carried forward14 | €35,894 | €14,791 | ▼ 58.8% |
| Amounts payable17/49 | €39,247 | €4,165 | ▼ 89.4% |
| Amounts payable within one year42/48 | €39,247 | €4,165 | ▼ 89.4% |
| Trade debts44 | €37,628 | - | - |
| Suppliers440/4 | €37,628 | - | - |
| Taxes, remuneration and social security45 | €1,619 | €4,165 | ▲ 157% |
| Taxes450/3 | €1,619 | €4,165 | ▲ 157% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €35,894 | €14,791 | ▼ 58.8% |
| + Depreciation and write-downs630 | €303 | €2,697 | ▲ 789% |
| Operating cash flow (approximation) | €36,197 | €17,488 | ▼ 51.7% |
| Change in cash | - | €6,911 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 02-10-2026 | 2026-00545285 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00362644 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Ildar Azatovitch Isaev |
|
| Ahad Lachinzadeh Vardani |
|
| Batu Sultan |
|
Owners and capital
Capital and shareholders
- ISAEV ILDAR to ABID Imane 30%
- Batu Sultan all shares
- Batu Sultan to LACHINZADEH Vardani
- Sultan BATU 100 shares (100%) · in cash
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 29-06-2023 Incorporation · €2,000 · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
19-08
Gazette deed
Registered office · Capital & shares · PurposeShare transfer · Registered-office move · Registered office clause8 facts ▸
- General meeting, 10-07-2026
- Share transfer, ISAEV ILDAR → ABID Imane
- Registered-office move, RUE DE DROIXHE 11A /0060 A 4020 LIEGE
- Registered office clause, “RUE E. SOLVAY 293 4000 LIEGE” (deed in French)
- Purpose change
- Correction, “n'est plus associé de la société”, 08-11-2024 (deed in French)
- Other provision, 08-11-2024, “statut de travailleur indépendant au sein de la société” (deed in French)
- Director in office, ISAEV ILDAR (associé unique administrateur)
16-01
Gazette deed
Resignation: Ahad Lachinzadeh Vardani (director)Appointment: Ildar Azatovitch Isaev (director)4 facts ▸
- General meeting, 08-11-2024
- Director resignation, Ahad Lachinzadeh Vardani (director)
- Director appointment, Ildar Azatovitch Isaev (director)
- Other provision, “voting and effective date, unanimité” (deed in French)
24-07
Gazette deed
Resignation: Batu Sultan (administrateur gérante)Shareholding · Share transfer8 facts ▸
- General meeting, 03-07-2024
- Shareholding, Batu Sultan
- Director resignation, Batu Sultan (administrateur gérante)
- Share transfer, Batu Sultan → LACHINZADEH Vardani
- Other provision, 05-07-2024
- Other provision, “actions y compris dettes engagées par Madame Sultan Batu, reprise des actions avec dettes antérieures” (deed in French)
- Other provision, “situation des dettes”, 15-07-2024 (deed in French)
- Other provision, “prise et paiement des dettes, accord sur reprise et paiement des dettes” (deed in French)
14-05
Gazette deed
Registered office · MiscellaneousRegistered-office move · Director in office3 facts ▸
- General meeting, 18-09-2023
- Registered-office move, Rue Ernest Solvay 293 4000 Liège
- Director in office, SULTAN BATU (director)
29-06
Gazette deed
IncorporationAppointment: Sultan BATU (director) · Founder · Founding capital8 facts ▸
- Incorporation, 26-06-2023
- Founder, Sultan BATU
- Founding capital, €2,000
- Capital
- Other provision, “Compte de capitaux propres statutairement indisponible” (deed in French)
- Registered office clause, “4000-Liège,boulevard Ernest Solvay,293” (deed in French)
- Board rule, 1, “fondatrice” (deed in French)
- Director appointment, Sultan BATU (director (not named in the articles))
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteEnvironmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62809C0255/00A000 | Wallonia | 3.0 ha | 1 · 2,513 m² | 7.6 m · 2 |
| 62078A0160/00H005 | Wallonia | 187 m² | 1 · 52 m² | 11.2 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L’exploitation, ce mot devant être interprété dans son acception la plus large, de pizzerias, snacks, restaurants, brasseries, tavernes…” (deed in French)
5 activities (deed in French)
- L’exploitation, ce mot devant être interprété dans son acception la plus large, de pizzerias, snacks, restaurants, brasseries, tavernes, cafés, friteries, salons de thé, commerces de glacier, tant en établissements fixes qu’en commerce ambulant, ainsi que le commerce de tous accessoires aux activités ci-dessus, notamment la mise sur pied d’animations, l’organisation de divertissements et spectacles, et la mise à disposition de la clientèle de jeux de bar, électroniques ou autres, ainsi que le commerce de denrées alimentaires.
- La constitution, la gestion et la mise en valeur, sous toutes formes, pour compte propre, d’un patrimoine immobilier et mobilier.
- Accomplir tous les actes et opérations ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à faciliter directement ou indirectement, entièrement ou partiellement, la réalisation de cet objet.
- S'intéresser par toutes voies dans toutes affaires, entreprises ou sociétés, ayant un objet analogue, similaire ou connexe au sien, ou qui sont de nature à favoriser le développement de son entreprise et, plus généralement, dans toutes affaires mobilières, immobilières, industrielles, commerciales et financières se rapportant directement ou indirectement à son objet.
- Exercer les fonctions d’administrateur ou liquidateur d’autres personnes morales.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SUBARE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, établir par simple décision de l’organe d’administration des sièges administratifs, agences, ateliers, dépôts et…” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 14. Pouvoirs de l’organe d’administration S’il n’y a qu’un seul administrateur, la totalité des pouvoirs d’administration lui est…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation, administrateur(s)” (deed in French)“Fixe ou proportionnelle, représentation voyages déplacements” (deed in French)
- Permanent representativeA company that is a director names a natural person to carry out the mandate on its behalf.
- “Représentant permanent” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, titulaires peuvent prendre connaissance du registre relatif à leurs titres” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Pli recommandé ou courriel à adresse société, prix notification initiale ou prix expert en cas contestation” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Saturday of June
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale, formes prévues pour modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Administrateurs en fonction désignés en vertu des statuts si aucun autre désigné, désigner un ou plusieurs liquidateurs et déterminer…” (deed in French)