SULTAN
ActiveSummary
SULTAN has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €79,424 and a net result of €10,824. Equity is shrinking by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 87% of 18930 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2021
Profitability63▲+63
Solvency100▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 44.84 against 7.02 in 2021; short-term debt: 2.2% and cash: 6.9% of total assets), and 25.4% of the assets are financed with debt.
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Signals
Three 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 · 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-09-2025, 42 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
42 d late
2021
22 d late
2020
23 d late
2019
23 d late
2018
31 d late
2017
100 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 40 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€79,424▼ 10.7%
2021 · €88,914
Total assets
€106,407▼ 11.5%
2021 · €120,287
Net result
€10,824
2021 · -€29,585
Working capital
€102,264▲ 0.7%
2021 · €101,604
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
Line20182019202020212024
Operating result€20,314-€2,966▼ 85.4%€22,244▲ 650%-€29,460€11,234-
Net result€15,189-€982▼ 93.5%€20,930▲ 2,030%-€29,585€10,824-
Equity€96,586-€97,568▲ 1.0%€118,498▲ 21.5%€88,914▼ 25.0%€79,424-
Total assets€145,930-€146,277▲ 0.2%€144,983▼ 0.9%€120,287▼ 17.0%€106,407-
Debt€49,344-€48,709▼ 1.3%€26,484▼ 45.6%€31,374▲ 18.5%€26,983-
Working capital€124,977-€133,369▲ 6.7%€138,388▲ 3.8%€101,604▼ 26.6%€102,264-
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is €11,234 in 2024, compared with -€29,460 in 2021. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2024 in colour, 2021 as the grey bar beneath
Assets €106,407
Fixed assets
€1,810 =
Current assets
€104,597 ▼ 11.7%
Equity and liabilities €106,407
Equity
€79,424 ▼ 10.7%
Debt
€26,983 ▼ 14.0%
Debt's share of the balance-sheet total falls from 26.1% to 25.4%. Equity and debt are lower.
Key figures and ratios
Current ratio
44.84▲
2021 · 7.02
Quick ratio
35.52▲
2021 · 5.85
Debt to equity
0.34▼
2021 · 0.35
ROE
13.6%▲
2021 · -33.3%
ROA
10.2%▲
2021 · -24.6%
Debt ≤ 1 year
€2,333▼
2021 · €16,874
Debt > 1 year
€24,650▲
2021 · €14,500
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% 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 497,058 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 31,324 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 | 2018 | 2019 | 2020 | 2021 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,133 | €904 | €587 | - | - | - |
| Other operating charges640/8 | - | - | - | €3,062 | €3,957 | - |
| Gross operating margin9900 | €25,174 | €5,642 | €23,766 | -€26,398 | €15,191 | - |
| Operating profit (loss)9901 | €20,314 | €2,966 | €22,244 | -€29,460 | €11,234 | - |
| Financial charges65/66B | - | - | - | €125 | €410 | - |
| Recurring financial charges65 | €4,057 | €1,136 | €325 | €125 | €410 | - |
| Profit (loss) for the period before taxes9903 | €16,257 | €1,831 | €21,919 | -€29,585 | €10,824 | - |
| Income taxes67/77 | €1,068 | €848 | €989 | - | - | - |
| Profit (loss) for the period9904 | €15,189 | €982 | €20,930 | -€29,585 | €10,824 | - |
| Profit (loss) for the period to be appropriated9905 | €15,189 | €982 | €20,930 | -€29,585 | €10,824 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €145,930 | €146,277 | €144,983 | €120,287 | €106,407 | - |
| Fixed assets21/28 | €3,301 | €2,397 | €1,810 | €1,810 | €1,810 | - |
| Tangible fixed assets22/27 | €1,491 | €587 | - | - | - | - |
| Financial fixed assets28 | €1,810 | €1,810 | €1,810 | €1,810 | €1,810 | - |
| Current assets29/58 | €142,628 | €143,880 | €143,173 | €118,477 | €104,597 | - |
| Stocks and contracts in progress3 | €4,485 | €14,337 | €17,737 | €19,737 | €21,737 | - |
| Stocks30/36 | - | - | - | €19,737 | €21,737 | - |
| Amounts receivable within one year40/41 | €105,815 | €115,416 | €120,680 | €96,069 | €75,492 | - |
| Trade receivables40 | - | - | - | - | €12,742 | - |
| Other amounts receivable41 | - | - | - | €96,069 | €62,751 | - |
| Cash at bank and in hand54/58 | €31,070 | €13,789 | €4,597 | €2,512 | €7,367 | - |
| Deferred charges and accrued income490/1 | - | - | - | €159 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €145,930 | €146,277 | €144,983 | €120,287 | €106,407 | - |
| Equity10/15 | €96,586 | €97,568 | €118,498 | €88,914 | €79,424 | - |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | - |
| Capital10 | - | - | - | €6,200 | €6,200 | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - |
| Profit (loss) carried forward14 | €88,526 | €89,508 | €110,438 | €80,854 | €71,364 | - |
| Amounts payable17/49 | €49,344 | €48,709 | €26,484 | €31,374 | €26,983 | - |
| Amounts payable after more than one year17 | €13,968 | €10,500 | €10,500 | €14,500 | €24,650 | - |
| Financial debts170/4 | - | - | - | €14,500 | €24,650 | - |
| Amounts payable within one year42/48 | €17,651 | €10,511 | €4,784 | €16,874 | €2,333 | - |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,880 | - | - |
| Financial debts43 | - | - | - | - | €1,391 | - |
| Credit institutions430/8 | - | - | - | - | €1,391 | - |
| Trade debts44 | €2,457 | €4,510 | - | €1,239 | - | - |
| Suppliers440/4 | - | - | - | €1,239 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,905 | €941 | - |
| Taxes450/3 | - | - | - | €2,905 | €941 | - |
| Other amounts payable47/48 | - | - | - | €10,850 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,189 | €982 | €20,930 | -€29,585 | €10,824 | - |
| + Depreciation and write-downs630 | €1,133 | €904 | €587 | - | - | - |
| Operating cash flow (approximation) | €16,323 | €1,887 | €21,518 | -€29,585 | €10,824 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | -€17,281 | -€9,192 | -€2,085 | - | - |
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
2025
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 42 days late
2024
31-12
Financial
Back to profitnet €10,824
Net result €10,824 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 44.84
Current ratio from 7.02 to 44.84; short-term debt falls from €16,874 to €2,333.
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Weakest financial yearnet -€29,585
Net result drops to -€29,585, the lowest in the series; recovery starts the following year.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
31-12
Financial
Highest result since 2018net €20,930 ▲2,030%
Operating result €22,244, net result €20,930, both a record.
31-12
Financial
Liquidity doublescurrent ratio 29.92
Current ratio from 13.69 to 29.92; short-term debt falls from €10,511 to €4,784.
31-12
Financial
Equity above €100,000Eq €118,498 ▲21.5%
3 profitable years in a row build equity to €118,498.
23-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 23 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
08-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 100 days late
Show earlier events
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
25-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 178 days late
2015
30-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 30 days late
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 21 acts read
About the unread acts
We know of 21 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
21 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, Gent · 1 establishment unit since 2003
Ground area
86 m²
Building footprint
86 m²
Volume, LiDAR
801 m³
Parcel 44021A1791/00S002, Flanders · tallest building 14.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
TURKIYEMSPOR
since 20032.123.663.758
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A1791/00S002 | Flanders | 86 m² | 1 · 86 m² | 14.6 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 2 entries · 4,000 EUR awarded · 4,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
| 2023 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.123.663.758
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ATM PAQUOT
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Of 14,005 companies in sector 56301 we hold annual accounts for 4,893. 3,853 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)
Founded13-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
56301Cafés and bars
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479032322
Also
9925:BE0479032322
Registered
29-04-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.