THE WINE PROGRAM
ActiveSummary
THE WINE PROGRAM has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81,997 and a net result of €22,472. Equity is growing by about 9.5% per year across the filed financial years. Its solvency ranks better than 80% of 16,833 sector peers (NACE 56, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Equity
- €81,997
- Profit
- €22,472
Why 87raises riskLast filed accounts filed 61 days late; 2 of the last 3 lateSector: Food and beverage service activities (NACE 56)lowers riskLiquidity: current ratio 2.18, cash €77,151Founded in 2002Show the evidence
Checked score
About 4 in 1,000 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 80% on solvency, 87% on liquidity, 79% on profitability and 76% on growth.
The bankruptcy probability was computed on 25-10-2026 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 7 accounts on average 55 days after the deadline; the sector median (NACE 56) for financial year 2024 is 6 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €22,472 ▲181%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (61 days) Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00545270.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 165% above 2024 and is the highest result in the available series.
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.
Average staff in full-time equivalents (FTE).
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), Staff (FTE).
Peer companies
Historical observationOf the 31,373 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,475 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 31,373 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €8,255 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €49,984 | €79,448 | €119,406 | €74,466 | €73,782 | ▼ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,201 | €15,696 | €15,273 | €14,000 | €15,349 | €6,681 | €14,266 | €13,256 | ▼ 7.1% |
| Other operating charges640/8 | - | - | - | €974 | €3,707 | €1,335 | €670 | €2,191 | ▲ 227% |
| Gross operating margin9900 | €175,431 | €115,289 | €105,323 | €82,460 | €117,706 | €138,498 | €102,737 | €124,558 | ▲ 21.2% |
| Operating profit (loss)9901 | €43,088 | -€17,189 | €7,181 | €17,502 | €19,202 | €11,076 | €13,334 | €35,328 | ▲ 165% |
| Financial income75/76B | - | - | - | €7,500 | €5 | €31 | - | - | - |
| Recurring financial income75 | - | - | €7,001 | €7,500 | €5 | €31 | - | - | - |
| Financial charges65/66B | - | - | - | €1,772 | €2,099 | €3,474 | €5,311 | €3,394 | ▼ 36.1% |
| Recurring financial charges65 | €3,889 | €3,205 | €1,975 | €1,772 | €2,099 | €3,474 | €4,631 | €3,394 | ▼ 26.7% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €680 | - | - |
| Profit (loss) for the period before taxes9903 | €39,199 | -€20,394 | €12,206 | €23,230 | €17,108 | €7,633 | €8,023 | €31,934 | ▲ 298% |
| Income taxes67/77 | €23,590 | €5,000 | €4,432 | €8,566 | €9,000 | €2,685 | €17 | €9,462 | ▲ 555× |
| Profit (loss) for the period9904 | €15,609 | -€25,394 | €7,774 | €14,664 | €8,108 | €4,949 | €8,006 | €22,472 | ▲ 181% |
| Profit (loss) for the period to be appropriated9905 | €20,609 | -€2,894 | €7,774 | €14,664 | €8,108 | €4,949 | €8,006 | €22,472 | ▲ 181% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €155,572 | €143,587 | €93,781 | €122,104 | €157,851 | €168,110 | €130,928 | €125,297 | ▼ 4.3% |
| Fixed assets21/28 | €60,685 | €52,574 | €37,301 | €28,733 | €58,434 | €56,593 | €44,217 | €30,961 | ▼ 30.0% |
| Tangible fixed assets22/27 | €54,780 | €46,669 | €31,396 | €22,828 | €52,919 | €51,078 | €38,702 | €25,446 | ▼ 34.3% |
| Plant, machinery and equipment23 | - | - | - | €6,520 | €4,257 | €2,031 | €2,335 | €1,222 | ▼ 47.7% |
| Furniture and vehicles24 | - | - | - | €5,726 | €3,554 | €1,577 | €623 | €46 | ▼ 92.6% |
| Leasing and similar rights25 | - | - | - | - | €36,352 | €36,352 | €27,264 | €18,176 | ▼ 33.3% |
| Other tangible fixed assets26 | - | - | - | €10,582 | €8,756 | €11,119 | €8,480 | €6,003 | ▼ 29.2% |
| Financial fixed assets28 | €5,905 | €5,905 | €5,905 | €5,905 | €5,515 | €5,515 | €5,515 | €5,515 | = |
| Current assets29/58 | €94,887 | €91,013 | €56,480 | €93,371 | €99,417 | €111,517 | €86,711 | €94,336 | ▲ 8.8% |
| Stocks and contracts in progress3 | €11,003 | €14,969 | €8,042 | €10,003 | €19,677 | €9,464 | €11,380 | €14,208 | ▲ 24.9% |
| Stocks30/36 | - | - | - | €10,003 | €19,677 | €9,464 | €11,380 | €14,208 | ▲ 24.9% |
| Amounts receivable within one year40/41 | - | €5,642 | €6,155 | €2,105 | €5,650 | €20,898 | €6,659 | €2,206 | ▼ 66.9% |
| Trade receivables40 | - | - | - | €1,997 | €5,225 | - | €4,948 | €1,052 | ▼ 78.7% |
| Other amounts receivable41 | - | - | - | €108 | €425 | €20,898 | €1,711 | €1,155 | ▼ 32.5% |
| Cash at bank and in hand54/58 | €83,884 | €70,402 | €40,695 | €79,637 | €73,669 | €81,154 | €67,770 | €77,151 | ▲ 13.8% |
| Deferred charges and accrued income490/1 | - | - | - | €1,625 | €421 | - | €901 | €770 | ▼ 14.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €155,572 | €143,587 | €93,781 | €122,104 | €157,851 | €168,110 | €130,928 | €125,297 | ▼ 4.3% |
| Equity10/15 | €43,579 | €40,684 | €42,458 | €57,122 | €65,230 | €70,179 | €59,525 | €81,997 | ▲ 37.8% |
| Contributions10/11 | €18,660 | €18,660 | €18,660 | €18,660 | €18,660 | €18,660 | - | - | - |
| Reserves13 | €25,700 | €25,700 | €25,700 | €25,700 | €25,700 | €25,700 | €25,700 | €45,700 | ▲ 77.8% |
| Non-distributable reserves130/1 | - | - | - | €25,700 | €25,700 | €25,700 | €25,700 | €45,700 | ▲ 77.8% |
| Reserves not available under the articles1311 | - | - | - | €25,700 | €25,700 | €25,700 | €25,700 | €45,700 | ▲ 77.8% |
| Profit (loss) carried forward14 | -€781 | -€3,675 | -€1,901 | €12,762 | €20,871 | €25,819 | €33,826 | €36,298 | ▲ 7.3% |
| Provisions and deferred taxes16 | €22,500 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €89,494 | €102,903 | €51,322 | €64,982 | €92,621 | €97,931 | €71,403 | €43,300 | ▼ 39.4% |
| Amounts payable after more than one year17 | €15,783 | €8,865 | €1,767 | - | €19,231 | €10,355 | €1,479 | - | - |
| Financial debts170/4 | - | - | - | - | €19,231 | €10,355 | €1,479 | - | - |
| Amounts payable within one year42/48 | €73,711 | €94,038 | €49,555 | €64,982 | €73,390 | €87,576 | €69,924 | €43,300 | ▼ 38.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,767 | €8,875 | €8,876 | €9,739 | €1,479 | ▼ 84.8% |
| Trade debts44 | €24,040 | €61,973 | €22,982 | €40,559 | €53,886 | €46,398 | €15,478 | €13,730 | ▼ 11.3% |
| Suppliers440/4 | - | - | - | €40,559 | €53,886 | €46,398 | €15,478 | €13,730 | ▼ 11.3% |
| Taxes, remuneration and social security45 | - | - | - | €22,031 | €10,628 | €32,302 | €18,687 | €11,845 | ▼ 36.6% |
| Taxes450/3 | - | - | - | - | €245 | €20,929 | €5,134 | €5,230 | ▲ 1.9% |
| Remuneration and social security454/9 | - | - | - | €22,031 | €10,383 | €11,373 | €13,553 | €6,614 | ▼ 51.2% |
| Other amounts payable47/48 | - | - | - | €625 | - | €1 | €26,019 | €16,246 | ▼ 37.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,609 | -€25,394 | €7,774 | €14,664 | €8,108 | €4,949 | €8,006 | €22,472 | ▲ 181% |
| + Depreciation and write-downs630 | €13,201 | €15,696 | €15,273 | €14,000 | €15,349 | €6,681 | €14,266 | €13,256 | ▼ 7.1% |
| Operating cash flow (approximation) | €28,810 | -€9,698 | €23,047 | €28,664 | €23,457 | €11,630 | €22,273 | €35,728 | ▲ 60.4% |
| Investment in fixed assets (approximation) | - | -€7,585 | €0 | -€5,432 | -€45,050 | -€4,840 | -€1,890 | €0 | - |
| Change in cash | - | -€13,482 | -€29,707 | €38,943 | -€5,969 | €7,486 | -€13,384 | €9,381 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-09-2026 | 2026-00545270 |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00457478 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00410846 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00419540 |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20300935 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-58800303 |
| 31-12-2019 | micro format | 25-01-2021 | 2021-01500075 |
| 31-12-2018 | micro format | 31-08-2019 | 2019-58300539 |
| 31-12-2017 | micro format | 30-09-2018 | 2018-68700547 |
| 31-12-2016 | micro format | 25-08-2017 | 2017-47100385 |
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
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DÜZDÜSEN Osman |
|
Owners and capital
Capital and shareholders
- 30-01-2024 Capital stated in the deed · 18,550 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
30-01
Gazette deed
Resignation: DÜZDÜSEN Osman (manager)Appointment: DÜZDÜSEN Osman (director) · Amendment of the articles · Capital conversion13 facts ▸
- General meeting, 22-01-2024
- Other provision, “adopter la langue française pour la société et ses statuts, adapter les statuts aux dispositions du Code des sociétés et des associations” (deed in French)
- Other provision, “française” (deed in French)
- Amendment of the articles (2 times)
- Capital conversion, EUR, “de plein droit” (deed in French)
- Other provision, “formes et majorités de la modification des statuts, suppression du compte de capitaux propres statutairement indisponible” (deed in French)
- Capital
- Director resignation, DÜZDÜSEN Osman (manager)
- Director appointment, DÜZDÜSEN Osman (director (not named in the articles))
- Director discharge, DÜZDÜSEN Osman
- Registered office clause, “1200 Woluwe-Saint-Lambert, Chaussée de Roodebeek 249” (deed in French)
- Power of attorney
- +1 further fact in this act
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 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
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21673D0069/00Z000 | Brussels | 278 m² | 1 · 133 m² | 12.0 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Tant en Belgique qu'à l'étranger, toutes opérations, relatives à la distribution de denrées alimentaires et de boissons, et notamment de…” (deed in French)
28 activities (deed in French)
- Tant en Belgique qu'à l'étranger, toutes opérations, relatives à la distribution de denrées alimentaires et de boissons, et notamment de vins et de boissons alcoolisées le levier pour son propre compte dans, et l'achat (y compris l'importation), la vente et la promotion de ces denrées alimentaires et boissons.
- Tant en Belgique qu'à l'étranger, agir en tant que courtier, agent, commissionnaire en denrées alimentaires et boissons.
- Tant en Belgique qu'à l'étranger, la vente et l'installation de caves à vin. Cela comprend également le commerce pour compte propre et l'achat, la vente et la promotion de matériel pour l'installation de caves à vin.
- Tant en Belgique qu'à l'étranger, la location de motos, ainsi que l'organisation de voyages à moto et toutes les questions commerciales, financières, administratives et techniques qui s'y rapportent
- Effectuer, pour son compte, toutes opérations relatives à l'achat, la vente, le broyage, la promotion, la location, l'exploitation, de biens immobiliers et l'achat en vue de la revente, le lotissement de tous biens immobiliers ou de parties divises ou indivises de tous biens immobiliers, ainsi que la gestion et l'administration de tous biens immobiliers.
- La société peut accomplir tous les actes commerciaux, industriels, financiers, mobiliers et immobiliers qui se rattachent directement ou indirectement à son objet ou qui peuvent être utiles à la poursuite de son objet.
- La société peut acquérir et prendre en location tous biens meubles ou immeubles, matériels, machines et équipements et en favoriser l'utilisation et/ou la vente par des tiers sous quelque forme que ce soit.
- La société peut acquérir directement ou indirectement des participations dans d'autres sociétés et entreprises belges ou étrangères, existantes ou à constituer, dont l'objet est similaire ou connexe à celui de la société, ou dont l'objet est de nature à promouvoir le développement ou l'objet de la société.
- La société peut louer ou donner en gérance ses installations à des tiers
- La société peut réaliser son objet en tout lieu et de la manière qu'elle juge appropriée.
- La société peut exercer des fonctions d'administrateur, de directeur général ou de liquidateur dans d'autres sociétés.
- La société peut gérer, superviser et/ou conseiller ses sociétés affiliées et leur fournir des services intellectuels et/ou de soutien,
- La société peut également accorder des prêts, des avances et des garanties sous quelque forme et pour quelque durée que ce soit à ses sociétés affiliées.
- L'exploitation d'une entreprise de restauration :
- L'exploitation d'un hôtel, d'un restaurant, d'une brasserie et/ou d'un café, d'un salon de thé ou d'un snack-bar.
- L'exploitation de maisons de repos, de spas, de centres de rééducation, d'appart-hôtels.
- La préparation et la livraison à domicile de repas à des particuliers
- La préparation et la livraison à domicile de repas à des institutions, hôpitaux, maisons de repos, groupes, etc.
- Location de tout matériel de fête, tentes, tables, vaisselle.
- Restauration et service de traiteur
- L'organisation de banquets, séminaires, repas d'affaires, festivités, concerts, spectacles, représentations.
- L'exploitation de services de restauration comprend également l'exploitation d'entreprises de jeux, y compris le snooker, le billard de table et les jeux informatiques. Contrats d'apprentissage.
- L'objet de la société comprend également la vente en gros et au détail, l'importation et l'exportation de :
- Bières, eaux et limonades, vins, boissons chaudes et toutes boissons alcoolisées.
- Confiseries et sucreries
- Les produits du tabac et les accessoires pour fumeurs, les aliments secs, les articles cadeaux et en outre tous les articles fournis aux établissements de restauration.
- Elle peut agir en tant qu'administrateur ou liquidateur dans d'autres sociétés.
- Elle peut également se porter garante de tiers, de gérants et d'associés et leur accorder des prêts, des avances et des crédits, sous réserve des restrictions légales en la matière.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- THE WINE PROGRAM
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, sièges administratifs, agences, ateliers, dépôts et succursales, tant en Belgique qu'à l'étranger” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Article 12.- 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.
- “Fixée par assemblée qui nomme, défaut censée sans limitation durée, 1” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement nombre acquis, déduction faite actions dont cession proposée” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of May at 09:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale délibérant dans les formes prévues pour les modifications aux statuts, en tout temps” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment que ce soit, administrateurs en fonction désignés comme liquidateurs en vertu des statuts…” (deed in French)