Subaro
ActiveSummary
The computed 12-month bankruptcy probability of Subaro is 2.7% (moderate). The 2025 annual accounts show negative equity (-€47,821) and a net result of -€16,330. Equity is shrinking by ~45.8% per year across the filed fiscal years. Its solvency ranks better than 9% of 3757 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.19 in 2024; short-term debt: 192% and cash: 8.2% of total assets), and equity is negative.
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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
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-92%
Return on assets
-31.4%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€47,821
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
31 d late
2023
30 d late
2022
32 d early
2021
1 d early
2020
16 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€47,821▼ 51.9%
2024 · -€31,491
Total assets
€51,959▼ 23.6%
2024 · €68,021
Net result
-€16,330▲ 56.5%
2024 · -€37,544
Working capital
-€87,242▼ 8.2%
2024 · -€80,661
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€268€6,103▲ 2,181%-€26,581-€38,773▼ 45.9%-€22,624▲ 41.7%
Net result€594€7,044▲ 1,085%-€25,756-€37,544▼ 45.8%-€16,330▲ 56.5%
Equity€24,765▲ 2.5%€31,810▲ 28.4%€6,053▼ 81.0%-€31,491-€47,821▼ 51.9%
Total assets€103,293▼ 3.9%€118,517▲ 14.7%€132,160▲ 11.5%€68,021▼ 48.5%€51,959▼ 23.6%
Debt€78,528▼ 5.7%€86,707▲ 10.4%€126,107▲ 45.4%€99,512▼ 21.1%€99,780▲ 0.3%
Working capital-€60,091▲ 15.3%-€36,699▲ 38.9%-€55,259▼ 50.6%-€80,661▼ 46.0%-€87,242▼ 8.2%
Staff (FTE)0.3▲ 200%1▲ 233%0.5▼ 50.0%1▲ 100%0.9▼ 10.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €22,624 in 2025 against €38,773 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €51,959
Fixed assets
€39,421 ▼ 19.8%
Current assets
€12,538 ▼ 33.5%
Key figures and ratios
EBITDA
-€12,875▲
2024 · -€26,696
Cash flow
-€6,581▲
2024 · -€25,468
Solvency
-92.0%▼
2024 · -46.3%
Current ratio
0.13▼
2024 · 0.19
Quick ratio
0.05▼
2024 · 0.12
Debt to equity
-2.09▲
2024 · -3.16
ROA
-31.4%▲
2024 · -55.2%
Interest coverage
-40.31▲
2024 · -142.46
Debt ≤ 1 year
€99,780▲
2024 · €99,512
Income taxes
€361▲
2024 · €200
Staff costs
€36,760▲
2024 · €36,637
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,943 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,943 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €6,036 | €12,845 | €14,398 | €36,637 | €36,760 | ▲ 0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,891 | €16,478 | €11,367 | €12,077 | €9,749 | ▼ 19.3% |
| Other operating charges640/8 | €1,387 | €963 | €1,779 | €4,519 | €3,935 | ▼ 12.9% |
| Gross operating margin9900 | €25,581 | €36,388 | €962 | €14,460 | €27,820 | ▲ 92.4% |
| Operating profit (loss)9901 | €268 | €6,103 | -€26,581 | -€38,773 | -€22,624 | ▲ 41.7% |
| Financial income75/76B | €1,370 | €1,328 | €1,249 | €1,616 | €6,974 | ▲ 332% |
| Recurring financial income75 | €1,370 | €1,328 | €1,249 | €1,616 | €6,974 | ▲ 332% |
| Financial charges65/66B | €1,044 | €249 | €229 | €187 | €319 | ▲ 70.4% |
| Recurring financial charges65 | €1,044 | €249 | €229 | €187 | €319 | ▲ 70.4% |
| Profit (loss) for the period before taxes9903 | €594 | €7,182 | -€25,561 | -€37,344 | -€15,969 | ▲ 57.2% |
| Income taxes67/77 | - | €138 | €195 | €200 | €361 | ▲ 80.5% |
| Profit (loss) for the period9904 | €594 | €7,044 | -€25,756 | -€37,544 | -€16,330 | ▲ 56.5% |
| Profit (loss) for the period to be appropriated9905 | €594 | €7,044 | -€25,756 | -€37,544 | -€16,330 | ▲ 56.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €103,293 | €118,517 | €132,160 | €68,021 | €51,959 | ▼ 23.6% |
| Fixed assets21/28 | €84,856 | €68,509 | €61,312 | €49,170 | €39,421 | ▼ 19.8% |
| Tangible fixed assets22/27 | €83,056 | €66,578 | €59,701 | €47,624 | €37,875 | ▼ 20.5% |
| Land and buildings22 | €28,971 | €21,759 | €18,786 | €15,812 | €12,838 | ▼ 18.8% |
| Plant, machinery and equipment23 | €5,766 | €2,980 | €1,430 | - | - | - |
| Furniture and vehicles24 | €48,319 | €41,839 | €39,485 | €31,812 | €25,037 | ▼ 21.3% |
| Financial fixed assets28 | €1,801 | €1,931 | €1,611 | €1,546 | €1,546 | = |
| Current assets29/58 | €18,437 | €50,008 | €70,848 | €18,851 | €12,538 | ▼ 33.5% |
| Stocks and contracts in progress3 | €5,250 | €7,015 | €7,600 | €7,305 | €7,624 | ▲ 4.4% |
| Stocks30/36 | €5,250 | €7,015 | €7,600 | €7,305 | €7,624 | ▲ 4.4% |
| Amounts receivable within one year40/41 | €11,455 | €41,732 | €52,103 | €614 | €659 | ▲ 7.3% |
| Trade receivables40 | - | - | - | - | €84 | - |
| Other amounts receivable41 | €11,455 | €41,732 | €52,103 | €614 | €575 | ▼ 6.3% |
| Cash at bank and in hand54/58 | €1,246 | €1,261 | €11,146 | €10,933 | €4,256 | ▼ 61.1% |
| Deferred charges and accrued income490/1 | €486 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €103,293 | €118,517 | €132,160 | €68,021 | €51,959 | ▼ 23.6% |
| Equity10/15 | €24,765 | €31,810 | €6,053 | -€31,491 | -€47,821 | ▼ 51.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €23,159 | €23,159 | €23,159 | €23,159 | €23,159 | = |
| Non-distributable reserves130/1 | €23,159 | €23,159 | €23,159 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Other1319 | €21,299 | €21,299 | €21,299 | - | - | - |
| Distributable reserves133 | - | - | - | €21,299 | €21,299 | = |
| Profit (loss) carried forward14 | -€16,994 | -€9,950 | -€35,706 | -€73,251 | -€89,581 | ▼ 22.3% |
| Amounts payable17/49 | €78,528 | €86,707 | €126,107 | €99,512 | €99,780 | ▲ 0.3% |
| Amounts payable within one year42/48 | €78,528 | €86,707 | €126,107 | €99,512 | €99,780 | ▲ 0.3% |
| Financial debts43 | €48,679 | €38,862 | €35,268 | - | - | - |
| Credit institutions430/8 | €48,679 | €38,862 | €35,268 | - | - | - |
| Trade debts44 | €9,631 | €11,907 | €69,409 | €5,432 | €7,844 | ▲ 44.4% |
| Suppliers440/4 | €9,631 | €11,907 | €69,409 | €5,432 | €7,844 | ▲ 44.4% |
| Taxes, remuneration and social security45 | €3,199 | €19,454 | €21,430 | €19,070 | €26,253 | ▲ 37.7% |
| Taxes450/3 | €2,872 | €16,611 | €17,923 | €16,700 | €17,190 | ▲ 2.9% |
| Remuneration and social security454/9 | €327 | €2,842 | €3,507 | €2,371 | €9,063 | ▲ 282% |
| Other amounts payable47/48 | €17,020 | €16,485 | - | €75,010 | €65,683 | ▼ 12.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €594 | €7,044 | -€25,756 | -€37,544 | -€16,330 | ▲ 56.5% |
| + Depreciation and write-downs630 | €17,891 | €16,478 | €11,367 | €12,077 | €9,749 | ▼ 19.3% |
| Operating cash flow (approximation) | €18,485 | €23,522 | -€14,390 | -€25,468 | -€6,581 | ▲ 74.2% |
| Investment in fixed assets (approximation) | - | -€130 | -€4,170 | €66 | €0 | ▼ 100% |
| Change in cash | - | €15 | €9,885 | -€213 | -€6,677 | ▼ 3,035% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet -€37,544
Net result drops to -€37,544, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €7,044 ▲1,085%
Operating result €6,103, net result €7,044, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €594
Net result €594 after 3 loss-making years.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Mol · 1 establishment unit since 2012
Ground area
466 m²
Building footprint
256 m²
Volume, LiDAR
2,960 m³
Parcel 13434F0648/00L000, Flanders · tallest building 17.3 m, ±4 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
't Leeuwke
since 20122.212.619.884
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13434F0648/00L000 | Flanders | 466 m² | 1 · 256 m² | 17.3 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
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 siteMol2.212.619.884
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Of 20,506 companies in sector 56111 we hold annual accounts for 11,454. 5,553 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded19-09-2012
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0848812851
Registered
10-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.