Equity
€138,380 ▲ 0.6%
ZARZA has made a profit without a break since 2017.
ZARZA
Lifetime
20 annual accounts with figures on one time axis, 22 filings since 2005peak €411,901 (2018)
€253,061▲ 8.4%
lowest -€42,819 (2015)
€20,844▲ 274%
peak €150,724 (2022)
€138,380▲ 0.6%
€107,518▲ 43.7%
peak 9.5 FTE (2019)
4.6 FTE▼ 2.1%
Board4 names since 2020
2 directorsGert Cordemans and 1 other
Owners2 names in the annual accounts
Documentsfilings and deeds
16-09-202645 days before the deadline
2026abbreviated format
Result from €5,570 to €20,844Debts from €74,802 to €107,518Cash from €95,274 to €148,492
Key points
from the 2026 annual accountsChecked score
92
Excellent
Financially stronger than 66% of micro companies in food and beverage service (NACE 56)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 23,791 companies (NACE 56, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025highest value
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Sector: Food and beverage service activities (NACE 56)
lowers risk
Liquidity: current ratio 1.82, cash €148,492
Equity €138,380 (56.3% of total assets)
Founded in 2003
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 56, micro). It does better than 73% of them on solvency, 82% on liquidity, 64% on profitability and 42% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as ZARZA has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ZARZA itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 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 31,368 companies, not a prediction for ZARZA. 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.
Credit verdict
Credit of up to €12,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.82 (1.93 in 2025), above the usual 1.5. Short-term debt is 43.6% and cash 60.4% of total assets. 43.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 16-09-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
45 days early
2025
22 days early
2024
106 days early
2023
32 days early
2022
41 days early
2021
34 days early
2020
24 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 43 days before the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 20 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-03-2027 year end31-10-2027 deadline
Board and ownership
- Gert Cordemans 100%score 88equity €140,014 (2025) · 30-09-2025 annual accounts of Gert Cordemans
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0859696647
1 director appointed
Change of role: CORDEMANS GERT, from manager to director · Permanent representative: CORDEMANS Gert · Appointment: LELIEVELD Francis Cornelie · General meeting of 29-09-2023 · Gazette deed
Resignation: Ives Van den Eeckhoudt (director)
Permanent representative: Gert Cordemans · General meeting of 03-01-2022 · Gazette deed
1 director appointed, 1 resignation
Resignation: Gert Cordemans · Appointment: BV Gert Cordemans · Permanent representative: Gert Cordemans · General meeting of 21-08-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ZARZA Leuven | €245,898 | €253,061 | 56.3% | 4.6 |
| SEMIFOOD Ghent | €275,336 | €290,129 | 44.2% | 4.5 |
| RMR Diest | €280,250 | €247,518 | -51.7% | 6.4 |
| BOERES Rotselaar | €226,197 | €329,868 | 45.9% | 6.2 |
| CASA FIESTA Oud-Heverlee | €236,155 | €295,847 | 47.7% | 6.1 |
| Cuisine d'Eté Zonhoven | €277,955 | €190,112 | 85.7% | 4.6 |
| BALCOO Leuze-en-Hainaut | €308,750 | €211,297 | 67.0% | 4.8 |
These companies have the same main activity as ZARZA: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €226,000 and €309,000, founded between 1999 and 2008.
Official details
Source: KBO- Status
- Active since 18-07-2003Normal situation
- Activity
- Full-service restaurantsNACE 56111and 1 other
- Joint committee
- 302Hotels and catering · annual accounts 31-03-2026
- Establishment unit
- 2.133.228.8493000 Leuven, since 08-07-2003
- Financial year end
- 31 March
- Peppol
- Reachable since 24-11-2023
Annual accounts to 31-03-2026
- ≈ €590,000estimated
- €245,898▲ 15.8%
- Employeeson 31-03-2026
- 4▼ 20.0%
- Filing
- Filed on 16-09-2026, 45 days before the end of the filing period
Insights on ZARZA
ZARZA files the abbreviated format. That format states no turnover. The gross margin rose from €214,440 in 2007 to €253,061 in 2026.
Gert Cordemans holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ZARZA
- What is the company number of ZARZA?
- The company number of ZARZA is 0859.696.647. The VAT number is the same number with BE in front: BE 0859.696.647.
- Where is ZARZA based?
- The registered office is at Bondgenotenlaan 92, 3000 Leuven.Company details
- What does ZARZA do?
- According to the KBO register, the main activity is full-service restaurants (NACE 56111).
- What is the legal form of ZARZA?
- ZARZA is a private limited company (BV).
- When was ZARZA founded?
- ZARZA was founded on 18-07-2003.
- Is ZARZA still active?
- Yes, ZARZA is an active enterprise in the KBO register.
- How many employees does ZARZA have?
- ZARZA had an average of 4.6 full-time equivalents in financial year 2026, according to the filed annual accounts.Financials
- Which joint committee does ZARZA fall under?
- In its 31-03-2026 annual accounts, ZARZA states joint committee 302 (Hotels and catering).
- What is the turnover of ZARZA?
- The turnover in financial year 2026 is ≈ €590,000. This figure is estimated from the gross margin of €253,061 and 41 comparable companies (NACE 56111). It probably lies between €560,000 and €830,000.
- Is ZARZA profitable?
- In financial year 2026, ZARZA made a profit of €20,844.
- Where can I find the annual accounts of ZARZA?
- ZARZA filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of ZARZA due?
- ZARZA must file the annual accounts for financial year 2027 by 31-10-2027.Timeline
Next steps
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