X.E.L.
ActiveThe file of X.E.L. contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 8.2% (elevated). The 2025 annual accounts show negative equity (-€155,645) and a net result of -€29,233. Equity is shrinking by ~9% per year across the filed fiscal years. Its solvency ranks better than 5% of 13484 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-81
Solvency0=
Growth58=
Track record79
Bankruptcy probability, 12 months
8.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.23 in 2024; short-term debt: 818.3% and cash: 90.4% of total assets), and equity is negative.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
+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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-718.3%
Return on assets
-134.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
22232425
2022 to 2025 · latest year -€155,645
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 · 4 filingsDeviation from the deadline
2025
1 d early
2024
149 d late
2023
30 d late
2022
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 60 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 (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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€155,645▼ 7.3%
2024 · -€145,066
Total assets
€21,668▼ 54.4%
2024 · €47,546
Net result
-€29,233
2024 · €14,564
Working capital
-€157,719▼ 13.5%
2024 · -€138,955
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
Line2022202320242025
Operating result-€101,571--€25,914▲ 74.5%€21,805-€26,333
Net result-€111,556--€30,921▲ 72.3%€14,564-€29,233
Equity-€110,056--€140,977▼ 28.1%-€145,066▼ 2.9%-€155,645▼ 7.3%
Total assets€23,466-€29,224▲ 24.5%€47,546▲ 62.7%€21,668▼ 54.4%
Debt€133,521-€170,201▲ 27.5%€179,476▲ 5.4%€177,313▼ 1.2%
Working capital-€125,625--€152,953▼ 21.8%-€138,955▲ 9.2%-€157,719▼ 13.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €26,333 after €21,805 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €21,668
Fixed assets
€2,074 ▼ 70.5%
Current assets
€19,594 ▼ 51.6%
Key figures and ratios
EBITDA
-€21,382▼
2024 · €26,756
Cash flow
-€24,282▼
2024 · €19,515
Solvency
-718.3%▼
2024 · -305.1%
Current ratio
0.11▼
2024 · 0.23
Debt to equity
-1.14▲
2024 · -1.24
ROA
-134.9%▼
2024 · 30.6%
Interest coverage
-7.37▼
2024 · 3.69
Debt ≤ 1 year
€177,313▼
2024 · €179,476
Staff costs
€133,907▲
2024 · €131,687
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €232,700 | €161,151 | €131,687 | €133,907 | ▲ 1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,967 | €4,924 | €4,951 | €4,951 | = |
| Other operating charges640/8 | €4,644 | €8,768 | €16,948 | €910 | ▼ 94.6% |
| Gross operating margin9900 | €142,739 | €148,929 | €156,737 | €113,435 | ▼ 27.6% |
| Operating profit (loss)9901 | -€101,571 | -€25,914 | €21,805 | -€26,333 | ▼ 221% |
| Financial income75/76B | €66 | €6,473 | €2 | €1 | ▼ 75.0% |
| Recurring financial income75 | €66 | €6,473 | €2 | €1 | ▼ 75.0% |
| Financial charges65/66B | €10,050 | €11,481 | €7,243 | €2,900 | ▼ 60.0% |
| Recurring financial charges65 | €10,050 | €11,481 | €7,243 | €2,900 | ▼ 60.0% |
| Profit (loss) for the period before taxes9903 | -€111,556 | -€30,921 | €14,564 | -€29,233 | ▼ 301% |
| Profit (loss) for the period9904 | -€111,556 | -€30,921 | €14,564 | -€29,233 | ▼ 301% |
| Profit (loss) for the period to be appropriated9905 | -€111,556 | -€30,921 | €14,564 | -€29,233 | ▼ 301% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €23,466 | €29,224 | €47,546 | €21,668 | ▼ 54.4% |
| Fixed assets21/28 | €15,570 | €11,976 | €7,025 | €2,074 | ▼ 70.5% |
| Tangible fixed assets22/27 | €15,570 | €11,976 | €7,025 | €2,074 | ▼ 70.5% |
| Plant, machinery and equipment23 | €15,570 | €11,062 | €6,555 | €2,048 | ▼ 68.8% |
| Furniture and vehicles24 | - | €914 | €470 | €27 | ▼ 94.3% |
| Current assets29/58 | €7,896 | €17,248 | €40,521 | €19,594 | ▼ 51.6% |
| Amounts receivable within one year40/41 | €207 | - | €13,137 | - | - |
| Other amounts receivable41 | €207 | - | €13,137 | - | - |
| Cash at bank and in hand54/58 | €7,689 | €17,086 | €27,216 | €19,594 | ▼ 28.0% |
| Deferred charges and accrued income490/1 | - | €162 | €168 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €23,466 | €29,224 | €47,546 | €21,668 | ▼ 54.4% |
| Equity10/15 | -€110,056 | -€140,977 | -€145,066 | -€155,645 | ▼ 7.3% |
| Contributions10/11 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Profit (loss) carried forward14 | -€111,556 | -€142,477 | -€146,566 | -€157,145 | ▼ 7.2% |
| Amounts payable17/49 | €133,521 | €170,201 | €179,476 | €177,313 | ▼ 1.2% |
| Amounts payable within one year42/48 | €133,521 | €170,201 | €179,476 | €177,313 | ▼ 1.2% |
| Trade debts44 | €36,432 | €37,744 | €56,675 | €62,035 | ▲ 9.5% |
| Suppliers440/4 | €36,432 | €37,744 | €56,675 | €62,035 | ▲ 9.5% |
| Taxes, remuneration and social security45 | €97,089 | €122,922 | €117,283 | €105,518 | ▼ 10.0% |
| Taxes450/3 | €51,700 | €64,201 | €41,839 | €42,419 | ▲ 1.4% |
| Remuneration and social security454/9 | €45,389 | €58,722 | €75,444 | €63,100 | ▼ 16.4% |
| Other amounts payable47/48 | - | €9,534 | €5,517 | €9,760 | ▲ 76.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€111,556 | -€30,921 | €14,564 | -€29,233 | ▼ 301% |
| + Depreciation and write-downs630 | €6,967 | €4,924 | €4,951 | €4,951 | = |
| Operating cash flow (approximation) | -€104,588 | -€25,997 | €19,515 | -€24,282 | ▼ 224% |
| Investment in fixed assets (approximation) | - | -€1,331 | €0 | €0 | - |
| Change in cash | - | €9,397 | €10,130 | -€7,622 | ▼ 175% |
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 · micro schema
2025
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 149 days late
2024
31-12
Financial
Back to profitnet €14,564
Net result €14,564 after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
25-01
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise de Liège, division Liège · event 22-01-2024
2023
08-12
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 04-12-2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Herstal · 1 establishment unit since 2021
Ground area
204 m²
Building footprint
109 m²
Volume, LiDAR
586 m³
Parcel 62051C0985/00T000, Wallonia · tallest building 17.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
HONG-KONG WOK
since 20212.317.820.740
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62051C0985/00T000indicative | Wallonia | 204 m² | 1 · 109 m² | 17.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PASCAL LAMBERT RUE DE LA LECHE 36,
4020 LIEGE 2 |
04-12-2023 → 22-01-2024 |
Recognitions · licences · registrations
Food safety, FASFC
1 siteHerstal2.317.820.740
Similar companies · same sector and region
AALIYA
BE 1019.774.460
Herstal
Brasserie André Renard
BE 0521.996.590
Herstal
BRASSERIE SALVI
BE 1015.869.023
Herstal
CHEZ M
BE 0861.538.459
Herstal
ELLSA
BE 0790.456.463
Herstal
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 20,506 companies in sector 56111 we hold annual accounts for 11,451. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-06-2021
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
56210Event catering
Scores and ratios are computed by Checked and are not a credit decision.