SUBEDI
ActiveSummary
SUBEDI has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €735k and a net result of €347k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 56% of 13417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+6
Solvency62▲+13
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 1.71 against 0.92 in 2024; short-term debt: 21.3% and cash: 33.8% of total assets), but 62.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 →
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
37.2%
Return on assets
17.6%
Age of the figures
12 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €735k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
2 d late
2021
2 d late
2020
on the day
2019
7 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€735k▲ 89.3%
2024 · €388k
2018: €-35k
2019: €-35k● -0.0% vs 2018lowest in 8 years
2020: €-31k▲ +11.4% vs 2019
2021: €-31k▼ -1.5% vs 2020
2022: €34k▲ +208% vs 2021
2023: €175k▲ +419% vs 2022
2024: €388k▲ +122% vs 2023
2025: €735k▲ +89.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.98M▲ 22.0%
2024 · €1.62M
2018: €155k
2019: €154k▼ -0.6% vs 2018
2020: €137k▼ -10.9% vs 2019
2021: €126k▼ -8.0% vs 2020lowest in 8 years
2022: €175k▲ +39.3% vs 2021
2023: €415k▲ +137% vs 2022
2024: €1.62M▲ +290% vs 2023
2025: €1.98M▲ +22.0% vs 2024highest in 8 years
2018 → 2025
Net result
€347k▲ 62.5%
2024 · €213k
2018: €-41klowest in 8 years
2019: €-12k▲ +69.7% vs 2018
2020: €4k▲ +132% vs 2019
2021: €-460▼ -112% vs 2020
2022: €65k▲ +14233% vs 2021
2023: €141k▲ +117% vs 2022
2024: €213k▲ +51.2% vs 2023
2025: €347k▲ +62.5% vs 2024highest in 8 years
2018 → 2025
Working capital
€298k
2024 · €-30k
2018: €-138klowest in 8 years
2019: €-137k▲ +1.2% vs 2018
2020: €-119k▲ +12.7% vs 2019
2021: €-115k▲ +3.9% vs 2020
2022: €-42k▲ +63.5% vs 2021
2023: €102k▲ +344% vs 2022
2024: €-30k▼ -129% vs 2023
2025: €298k▲ +1099% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-31k-€34k€175k▲ 419%€388k▲ 122%€735k▲ 89.3%
2021: €-31klowest in 5 years
2022: €34k▲ +208% vs 2021
2023: €175k▲ +419% vs 2022
2024: €388k▲ +122% vs 2023
2025: €735k▲ +89.3% vs 2024highest in 5 years
Operating result€870-€69k▲ 7,783%€191k▲ 178%€343k▲ 80.1%€555k▲ 61.9%
2021: €870lowest in 5 years
2022: €69k▲ +7783% vs 2021
2023: €191k▲ +178% vs 2022
2024: €343k▲ +80.1% vs 2023
2025: €555k▲ +61.9% vs 2024highest in 5 years
Net result€-460-€65k€141k▲ 117%€213k▲ 51.2%€347k▲ 62.5%
2021: €-460lowest in 5 years
2022: €65k▲ +14233% vs 2021
2023: €141k▲ +117% vs 2022
2024: €213k▲ +51.2% vs 2023
2025: €347k▲ +62.5% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 62% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.98M
Fixed assets
€1.26M ▲ 0.4%
Current assets
€718k ▲ 96.0%
Equity and liabilities €1.98M
Equity
€735k ▲ 89.3%
Debt
€1.24M ▲ 0.8%
Debt's share of the balance-sheet total falls from 76.0% to 62.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€627k▲
2024 · €508k
Cash flow
€418k▲
2024 · €379k
Current ratio
1.71▲
2024 · 0.92
Quick ratio
1.70▲
2024 · 0.92
Debt to equity
1.69▼
2024 · 3.17
ROE
47.2%▼
2024 · 55.0%
ROA
17.6%▲
2024 · 13.2%
Interest coverage
11.55▼
2024 · 14.48
Debt ≤ 1 year
€421k▲
2024 · €396k
Debt > 1 year
€815k▼
2024 · €830k
Income taxes
€162k▲
2024 · €100k
Staff costs
€289k▲
2024 · €197k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.62M€1.98M▲
Fixed assets21/28€1.25M€1.26M▲
Tangible fixed assets22/27€1.25M€1.26M▲
Land and buildings22€1.05M€1.10M▲
Plant, machinery and equipment23€94k€72k▼
Furniture and vehicles24€112k€89k▼
Current assets29/58€367k€718k▲
Stocks and contracts in progress3€3k€3k=
Stocks30/36€3k€3k=
Amounts receivable within one year40/41€89k€47k▼
Trade receivables40€85k€38k▼
Other amounts receivable41€3k€9k▲
Cash at bank and in hand54/58€275k€668k▲
Equity and liabilities
Total equity and liabilities10/49€1.62M€1.98M▲
Equity10/15€388k€735k▲
Contributions10/11€19k€19k=
Reserves13€370k€717k▲
Distributable reserves133€370k€717k▲
Amounts payable17/49€1.23M€1.24M▲
Amounts payable after more than one year17€830k€815k▼
Financial debts170/4€830k€815k▼
Amounts payable within one year42/48€396k€421k▲
Current portion of amounts payable after more than one year42-€114k
Trade debts44€171k€62k▼
Suppliers440/4€171k€62k▼
Taxes, remuneration and social security45€153k€147k▼
Taxes450/3€144k€134k▼
Remuneration and social security454/9€10k€13k▲
Other amounts payable47/48€72k€97k▲
Accrued charges and deferred income492/3€4k€5k▲
Income statement
Code20242025
Remuneration, social security and pensions62€197k€289k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€165k€71k▼
Other operating charges640/8€6k€9k▲
Gross operating margin9900€712k€925k▲
Operating profit (loss)9901€343k€555k▲
Financial income75/76B€6k€8k▲
Recurring financial income75€6k€8k▲
Financial charges65/66B€35k€54k▲
Recurring financial charges65€35k€54k▲
Profit (loss) for the period before taxes9903€314k€509k▲
Income taxes67/77€100k€162k▲
Profit (loss) for the period9904€213k€347k▲
Profit (loss) for the period to be appropriated9905€213k€347k▲
Appropriation of the result
Profit (loss) to be appropriated9906€213k€347k▲
Transfer to equity691/2€213k€347k▲
To other reserves6921€213k€347k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €6k | €38k | €120k | €197k | €289k | ▲ 46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €18k | €19k | €165k | €71k | ▼ 56.9% |
| Other operating charges640/8 | €3k | €9k | €6k | €6k | €9k | ▲ 49.6% |
| Gross operating margin9900 | €26k | €134k | €336k | €712k | €925k | ▲ 29.9% |
| Operating profit (loss)9901 | €870 | €69k | €191k | €343k | €555k | ▲ 61.9% |
| Financial income75/76B | €24 | €17 | €19k | €6k | €8k | ▲ 37.0% |
| Recurring financial income75 | €24 | €17 | €19k | €6k | €8k | ▲ 37.0% |
| Financial charges65/66B | €1k | €4k | €7k | €35k | €54k | ▲ 54.6% |
| Recurring financial charges65 | €1k | €4k | €7k | €35k | €54k | ▲ 54.6% |
| Profit (loss) for the period before taxes9903 | €-460 | €65k | €203k | €314k | €509k | ▲ 62.3% |
| Income taxes67/77 | - | €117 | €62k | €100k | €162k | ▲ 61.9% |
| Profit (loss) for the period9904 | €-460 | €65k | €141k | €213k | €347k | ▲ 62.5% |
| Profit (loss) for the period to be appropriated9905 | €-460 | €65k | €141k | €213k | €347k | ▲ 62.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €126k | €175k | €415k | €1.62M | €1.98M | ▲ 22.0% |
| Fixed assets21/28 | €90k | €77k | €93k | €1.25M | €1.26M | ▲ 0.4% |
| Tangible fixed assets22/27 | €90k | €77k | €93k | €1.25M | €1.26M | ▲ 0.4% |
| Land and buildings22 | - | - | - | €1.05M | €1.10M | ▲ 4.7% |
| Plant, machinery and equipment23 | €90k | €77k | €84k | €94k | €72k | ▼ 22.6% |
| Furniture and vehicles24 | - | - | €9k | €112k | €89k | ▼ 20.6% |
| Current assets29/58 | €36k | €98k | €322k | €367k | €718k | ▲ 96.0% |
| Stocks and contracts in progress3 | €4k | €3k | €3k | €3k | €3k | = |
| Stocks30/36 | €4k | €3k | €3k | €3k | €3k | = |
| Amounts receivable within one year40/41 | €17k | €36k | €50k | €89k | €47k | ▼ 46.6% |
| Trade receivables40 | €16k | €35k | €47k | €85k | €38k | ▼ 55.0% |
| Other amounts receivable41 | €1k | €893 | €2k | €3k | €9k | ▲ 175% |
| Cash at bank and in hand54/58 | €15k | €59k | €269k | €275k | €668k | ▲ 143% |
| Deferred charges and accrued income490/1 | - | - | €214 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €126k | €175k | €415k | €1.62M | €1.98M | ▲ 22.0% |
| Equity10/15 | €-31k | €34k | €175k | €388k | €735k | ▲ 89.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | - | €15k | €156k | €370k | €717k | ▲ 93.8% |
| Distributable reserves133 | - | €15k | €156k | €370k | €717k | ▲ 93.8% |
| Profit (loss) carried forward14 | €-50k | - | - | - | - | - |
| Amounts payable17/49 | €157k | €142k | €240k | €1.23M | €1.24M | ▲ 0.8% |
| Amounts payable after more than one year17 | €6k | - | - | €830k | €815k | ▼ 1.8% |
| Financial debts170/4 | €6k | - | - | €830k | €815k | ▼ 1.8% |
| Amounts payable within one year42/48 | €150k | €140k | €219k | €396k | €421k | ▲ 6.2% |
| Current portion of amounts payable after more than one year42 | €12k | €6k | - | - | €114k | - |
| Trade debts44 | €22k | €24k | €54k | €171k | €62k | ▼ 63.5% |
| Suppliers440/4 | €22k | €24k | €54k | €171k | €62k | ▼ 63.5% |
| Taxes, remuneration and social security45 | €3k | €17k | €85k | €153k | €147k | ▼ 4.0% |
| Taxes450/3 | €2k | €16k | €76k | €144k | €134k | ▼ 6.6% |
| Remuneration and social security454/9 | €1k | €2k | €9k | €10k | €13k | ▲ 34.0% |
| Other amounts payable47/48 | €114k | €92k | €81k | €72k | €97k | ▲ 34.2% |
| Accrued charges and deferred income492/3 | €480 | €2k | €21k | €4k | €5k | ▲ 0.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-460 | €65k | €141k | €213k | €347k | ▲ 62.5% |
| + Depreciation and write-downs630 | €17k | €18k | €19k | €165k | €71k | ▼ 56.9% |
| Operating cash flow (approximation) | €16k | €83k | €160k | €379k | €418k | ▲ 10.4% |
| Investment in fixed assets (approximation) | - | €-5k | €-35k | €-1.32M | €-76k | ▲ 94.3% |
| Change in cash | - | €44k | €209k | €6k | €393k | ▲ 6,018% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €347k ▲62.5%
Operating result €555k, net result €347k, both a record.
30-09
Financial
Equity above €500kEq €735k ▲89.3%
4 profitable years in a row build equity to €735k.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €200kEq €388k ▲122%
3 profitable years in a row build equity to €388k.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Liquidity doublescurrent ratio 1.47
Current ratio from 0.70 to 1.47.
30-09
Financial
Equity above €150kEq €175k ▲419%
2 profitable years in a row build equity to €175k.
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2022
30-09
Financial
Back to profitnet €65k
Net result €65k after one loss-making year.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
30-09
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
23-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
09-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
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.
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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, Brugge · 1 establishment unit since 2017
Ground area
142 m²
Building footprint
141 m²
Volume, LiDAR
1,226 m³
Parcel 31806F0640/00B000, Flanders · tallest building 13.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SUBEDI
since 20172.264.340.680
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31806F0640/00B000 | Flanders | 142 m² | 1 · 141 m² | 13.5 m · 3 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.264.340.680
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DE KUIPER
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 5,161 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
Founded17-01-2017
Fiscal year end30-09
Activities, NACEBEL 2025
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.