Z2A
ActiveSummary
Z2A has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€34,675) and a net result of -€35,675. Its solvency ranks better than 5% of 617 sector peers (NACE 72, financial year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-06-2024 Normal situation
- Activity
- Research and development on biotechnology NACE 72101and 1 other
- Joint committee
- 220 Paritair Comité voor de bedienden uit de voedingsnijverheid · annual accounts 2025
- Establishment units
- 2.363.573.066 1180 Ukkel, since 21-06-2024
- 2.386.949.274 1050 Elsene, since 01-02-2026
- Financial year end
- 31 December
- Peppol
- Reachable since 24-09-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.3%
Annual accounts 2025
- Gross margin
- -€10,804
- Loss
- €35,675
- Equity
- -€34,675
- Total assets
- €13,554
- Employees on 31-12-2025
- 1
- Negative equity on 31-12-2025
- 2025 accounts filed 52 days after the deadline
Turnover not published (micro format)
Score breakdownraises riskCapped at 59: negative equityNegative equity -€34,675Last filed accounts filed 52 days late; 1 of the last 3 accounts latelowers riskSector: Scientific research and development (NACE 72)Size: total assets €13,554Show the evidence
Checked score
Score 2025
53
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 10% of micro companies in research and development (NACE 72)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength
Weak
Solvency
0
equity -255.8% of total assets
Liquidity
30
short-term debt 355.8% · cash 23.8%
Profitability
0
return on assets -263.2%
Bankruptcy probability within 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
07-2025: 0.7%lowest value
08-2025: 0.7%● unchanged vs 07-2025lowest value
09-2025: 0.7%● unchanged vs 08-2025
10-2025: 0.8%▲ +0.1 percentage points vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.9%▲ +0.1 percentage points vs 11-2025
01-2026: 0.9%● unchanged vs 12-2025
02-2026: 1.2%▲ +0.3 percentage points vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.1%▼ -0.1 percentage points vs 03-2026
05-2026: 1.3%▲ +0.2 percentage points vs 04-2026
06-2026: 1.3%● unchanged vs 05-2026
07-2026: 1.3%● unchanged vs 06-2026highest value
08-2026: 1.3%● unchanged vs 07-2026highest value
09-2026: 1.3%● unchanged vs 08-2026
10-2026: 1.3%● unchanged vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
No credit on open account
Liquidity is insufficient, with a current ratio of 0.22, below 1. Short-term debt is 355.8% and cash 23.8% of total assets. Equity is negative.
Calculation
The band follows from the bankruptcy probability. 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 72, micro). It does better than 6% of them on solvency, 13% on liquidity and 10% on profitability.
The bankruptcy probability was computed on 03-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
raises risk · 2025 accounts filed 52 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 1 filingDeviation from the deadline
2025
52 days late
← before the deadline
after the deadline →
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 52 days after the deadline Filed on 21 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00517593.
Annual accounts 2025 filed on 21-09-2026 at the NBB
Equity
-€34,675
Total assets
€13,554
Net result
-€35,675
Working capital
-€37,829
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
Assets €13,554
Fixed assets
€3,154
Current assets
€10,400
Equity and liabilities
Equity-€34,675
Debt€48,229
Equity is negative. Debt (€48,229) exceeds the balance-sheet total (€13,554).
Key figures and ratios
EBITDA
-€35,109
Cash flow
-€35,319
Solvency
-255.8%
Current ratio
0.22
ROA
-263.2%
Interest coverage
-167.06
Debt
€48,229
Debt ≤ 1 year
€48,229
Staff costs
€23,918
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 1 |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2025 |
|---|---|
| Intangible fixed assets | €3,510 |
| Depreciation and write-downs of the year | €356 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €23,918 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €356 |
| Other operating charges640/8 | €387 |
| Gross operating margin9900 | -€10,804 |
| Operating profit (loss)9901 | -€35,465 |
| Financial income75/76B | €0 |
| Recurring financial income75 | €0 |
| Financial charges65/66B | €210 |
| Recurring financial charges65 | €210 |
| Profit (loss) for the period before taxes9903 | -€35,675 |
| Profit (loss) for the period9904 | -€35,675 |
| Profit (loss) for the period to be appropriated9905 | -€35,675 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €13,554 | |
| Fixed assets21/28 | €3,154 | |
| Intangible fixed assets21 | €3,154 | |
| Current assets29/58 | €10,400 | |
| Amounts receivable within one year40/41 | €7,180 | |
| Trade receivables40 | €5,702 | |
| Other amounts receivable41 | €1,478 | |
| Cash at bank and in hand54/58 | €3,220 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €13,554 | |
| Equity10/15 | -€34,675 | |
| Contributions10/11 | €1,000 | |
| Profit (loss) carried forward14 | -€35,675 | |
| Amounts payable17/49 | €48,229 | |
| Amounts payable within one year42/48 | €48,229 | |
| Trade debts44 | €297 | |
| Suppliers440/4 | €297 | |
| Other amounts payable47/48 | €47,932 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€35,675 |
| + Depreciation and write-downs630 | €356 |
| Operating cash flow (approximation) | -€35,319 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,639 companies had the same profile as Z2A has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
84.8%
was still going
5.6%
stopped otherwise
8.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Z2A itself is lower: 1.3% within 12 months. It rests on far more data about Z2A than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,639 companies, not a prediction for Z2A. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 21-09-2026 | 2026-00517593 |
Board & ownership
Directors
Directors
1 director, no change since 2024
JACQUEMIN Sophie Dominique Xavière
Current
Director (not named in the articles) · appointed in the act of 25-06-2024 · term without a fixed end
Owners and capital
Shareholders
At incorporation
act of 25-06-2024 ↗
- JACQUEMIN Sophie Dominique Xavière 1,000 shares (100%) · €1,000
Capital transactions
Capital over time
- 25-06-2024 Incorporation · €1,000 · 1,000 shares
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement nombre actions si plusieurs, cession entre vifs ou transmission pour cause de mort sans…”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 25-06-2024 (in French)
Network & group
Z2A shares no director with another company.
Companies at the same address
5 other companies- ARTUHR Registered office · since 2020 0757709758
- ENTREPRENEURS FREI Registered office · since 2014 0550539237
- LE COMPTOIR BIO Registered office · since 2008 0808785901
- Association des copropriétaires à Uccle, chaussée de Waterloo, 1485 Registered office · since 2000 0824279769
- Le Cycle du Prince d'Orange Registered office · since 1988 0436166438
Connections & network
1 current directorThe network starts from the directors of Z2A. Every other company they run is a node.
This company
Company
Director
Shareholding
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Timeline
Acts, filings and financial milestones
2026
21-09
micro format · 52 days late
2024
25-06
Gazette deed
IncorporationStarting capital €1,000 · Appointment: JACQUEMIN Sophie Dominique Xavière (director) · Registered office clause · Board rule10 points ▸
Gazette deed
Incorporation
Starting capital €1,000 · Appointment: JACQUEMIN Sophie Dominique Xavière (director) · Registered office clause · Board rule10 points ▸
- Registered office clause, “1180 Uccle,Chaussée de Waterloo,1485/6” (deed in French)
- Board rule, 1
- Director appointment, JACQUEMIN Sophie Dominique Xavière (director (not named in the articles))
- Pre-incorporation commitments, “takeover, engagements,obligations et activités entrepris par l'un ou l'autre des comparants au nom et pour compte de la société en formation” (deed in French)
- Other provision, “chaque actionnaire sur site, registre des actions eStox” (deed in French)
- Incorporation, “Z2A” (deed in French)
- Founder, JACQUEMIN Sophie Dominique Xavière
- Founding capital, €1,000
- Bank account, “Banque Belfius, société en formation” (deed in French)
- JACQUEMIN Sophie Dominique Xavière holds all the shares
Gazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordName
Z2A in French
Enterprise number
1010.628.053
Legal form
Private limited company
Status
Active, normale toestand
Founded
21-06-2024
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 25-06-2024 (in French)Name clauseThe company operates under this name according to its articles.
Z2A
deed of 25-06-2024 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Simple décision, Région de Bruxelles Capitale”
deed of 25-06-2024 (in French)Registered office and establishments
Registered office
Waterloosesteenweg 1485, 1180 Ukkel, Belgium
Establishment units
Z2A, Waterloosesteenweg 1485, 1180 Ukkel since 21-06-2024 · unit number 2.363.573.066
Louizalaan 231, 1050 Elsene since 01-02-2026 · unit number 2.386.949.274
Activities
NACEBEL 202572101
Research and development on biotechnology main activity
38210
Materials recovery from waste
Codes under NACEBEL 2008
72110
Scientific research and development main activity
38211
Waste collection, recovery and disposal activities
Joint committee
220 Paritair Comité voor de bedienden uit de voedingsnijverheid annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 25-06-2024 (in French)
“La fabrication,la production,l’achat et la vente de produits finis à base d’invendus (food et non food) upcycling; L’achat et la vente de…”
27 activities
- La fabrication,la production,l’achat et la vente de produits finis à base d’invendus (food et non food) upcycling
- L’achat et la vente de produits de seconde main
- L’organisation de cours,d’évènement,de séminaire à titre principal ou en qualité d’intermédiaire principalement mais pas exclusivement dans le domaine alimentaire,d’upcycling,de production et vente en circuit court et dans tout secteurs connexes
- Toute activité dans le domaine du conseil et de la gestion au sens large du terme plus particulièrement dans le domaine alimentaire mais pas exclusivement
- L’industrialisation de produits dans un circuit durable et circulaire
- La consultance,l’accompagnement de start-up
- La recherche et développement afin d’améliorer les techniques de recyclage et de conservation dans l’esprit du circuit durable
- L’import,export et la vente des denrées alimentaires réglementées,articles et produits d’alimentation générale,produits congelés et réfrigérés
- Toute activité dans les domaines de la conception,la création,l’achat,la vente,la production,la représentation,la commercialisation de tous objets,articles,produits,publication,marchandises,supports,en relation directe ou indirecte avec l’activité principale mais pas exclusivement
- Toute activité dans le domaine de l’évènement et de la promotion tant pour son compte propre que pour le compte d’autres sociétés
- La création,le développement d’application,site web
- La création de vidéos,photos et podcast
- Toute activité dans le domaine de l’édition et de l’information,la publicité,la création de programmes et toute activité de développement sous tout support
- Toutes activités dans le secteur sportif et musical et notamment le piano
- Acquérir ou créer tous établissements relatifs à son objet
- La conception,le développement et le marketing de projets et de produits
- La fonction d’administrateur,de gérant ou de liquidateur dans d’autres sociétés
- Le prêt à toutes sociétés et/ou personnes physiques et se porter caution,même hypothécairement
- La gestion,la souscription,la prise ferme,le placement,l'achat,la vente et la négociation d'actions,de parts sociales,d'obligations,de certificats,de créances,de capitaux et d'autres valeurs mobilières,émises par des entreprises belges ou étrangères,que ces dernières soient des entreprises commerciales,civiles ou financières,des institutions ou des associations à caractère (semi)publique ou non
- Toutes activités en rapport direct ou indirect avec la restauration en général et le secteur Horeca,l'organisation de banquets et réceptions,le service traiteur,y compris l'organisation,la gestion et l'exploitation de restaurants,cafétérias,débits de boissons,ainsi que toutes opérations de tourisme,d'hôtellerie,de divertissements et de loisirs
- L'exploitation,sous sa propre enseigne ou par voie de franchise ou licence de tout snack-bar,cafétéria,sandwicherie,service de cuisine rapide ou de petite restauration,de tout service traiteur et/ou d'un ou plusieurs restaurants,ainsi que la livraison à domicile et la vente ambulante
- L’achat,la vente,le lotissement,la location,la promotion,et la mise en valeur de tous biens immeubles,ainsi que toutes prestations de conseils et de services dans le secteur immobilier,en ce compris la gestion de projet
- Création d’une base de données en Belgique et à l’étranger sur tous supports existants et à venir
- La société peut s’intéresser par voie d’apport,de souscription,de prise de participation,de fusion,ou toute autre forme d’investissement en titres ou droits mobiliers dans toutes affaires,entreprises,associations ou sociétés ayant un objet identique,analogue,similaire ou connexe,ou qui sont de nature à favoriser le développement de son entreprise,à lui procurer des matières premières ou à faciliter l’écoulement de ses produits
- Elle peut exercer les fonctions d’administrateur,de gérant ou de liquidateur au sein de toute société ou entreprise dont elle est actionnaire,membre ou associé
- Elle peut consentir tous prêts à des sociétés affiliées et émettre des garanties pour sûreté des prêts consentis par des tiers à des sociétés affiliées
- La société a pour objet,pour compte propre,pour compte de tiers ou en participation,en Belgique et à l'étranger toutes opérations,en gros ou en détail,d’achat,de vente,de promotion,de location,de leasing,d’échange,d’exploitation,de mise en valeur,de lotissement de tous immeubles ou partie indivise d’immeubles généralement quelconques,et des droits réels y afférents,ou de biens meubles,la gestion de son propre patrimoine et l’administration de tous biens immobiliers ou mobiliers,de toutes entreprises de travaux publics ou privés,l’acquisition de toutes valeurs financières ou boursières,la prise de participation dans toutes sociétés belges ou étrangères et toutes opérations financières
Invoicing and payment
VAT number
BE 1010.628.053
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of June at 18:00
deed of 25-06-2024 (in French)Sites & property
Location
Buildings and parcels at the addresses
Ground area
6,169 m²
Building footprint
4,002 m²
Building volume
87,955 m³
Tallest building: 45.8 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0131/00T000 | Brussels | 5,672 m² | 1 · 3,878 m² | 45.8 m · 8 |
| 21614H0008/00K049 | Brussels | 497 m² | 1 · 124 m² | 16.1 m · 5 |