ZOLTAN
ActiveSummary
ZOLTAN has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€29,773) and a net result of €1,591. Equity is shrinking by ~4.6% per year across the filed fiscal years. Its solvency ranks better than 10% of 1347 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.51 against 0.47 in 2024; short-term debt: 180.6% and cash: 25.6% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
-80.6%
Return on assets
4.3%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 1347 sector peers (2025).
NBB · sector comparisonPosition among 1347 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
49 d late
2023
55 d late
2022
25 d late
2021
30 d late
2020
89 d late
2019
119 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 57 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% 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. Usually files around 31 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1,591▲ 12.2%
2024 · €1,418
Working capital
-€32,810▲ 6.7%
2024 · -€35,180
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€8,397▼ 17.7%€5,505-€3,015€2,465€1,724▼ 30.1%
Net result-€8,397within the sector's middle half▼ 8.5%€5,488within the sector's middle half-€3,031within the sector's middle half€1,418within the sector's middle half€1,591within the sector's middle half▲ 12.2%
Equity-€35,240below the sector's middle half▼ 31.3%-€29,751below the sector's middle half▲ 15.6%-€32,783below the sector's middle half▼ 10.2%-€31,364below the sector's middle half▲ 4.3%-€29,773below the sector's middle half▲ 5.1%
Total assets€36,808below the sector's middle half▲ 10.1%€39,882below the sector's middle half▲ 8.4%€35,568below the sector's middle half▼ 10.8%€35,592below the sector's middle half▲ 0.1%€36,922below the sector's middle half▲ 3.7%
Debt€72,047▲ 19.5%€69,634▼ 3.4%€68,350▼ 1.8%€66,956▼ 2.0%€66,695▼ 0.4%
Working capital-€36,639within the sector's middle half▼ 30.1%-€35,119within the sector's middle half▲ 4.1%-€37,225within the sector's middle half▼ 6.0%-€35,180within the sector's middle half▲ 5.5%-€32,810within the sector's middle half▲ 6.7%
Solvency-95.7%below the sector's middle half▼ 15.5pp-74.6%below the sector's middle half▲ 21.1pp-92.2%below the sector's middle half▼ 17.6pp-88.1%below the sector's middle half▲ 4.0pp-80.6%below the sector's middle half▲ 7.5pp
Current ratio0.49within the sector's middle half▼ 0.040.50within the sector's middle half=0.45within the sector's middle half▼ 0.040.47within the sector's middle half▲ 0.020.51within the sector's middle half▲ 0.03
Return on assets (ROA)-22.8%below the sector's middle half▲ 0.3pp13.8%above the sector's middle half▲ 36.6pp-8.5%below the sector's middle half▼ 22.3pp4.0%within the sector's middle half▲ 12.5pp4.3%within the sector's middle half▲ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 30% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €36,922
Fixed assets
€3,036 ▼ 20.4%
Current assets
€33,885 ▲ 6.6%
Equity and liabilities
Equity-€29,773
Debt€66,695
Equity is negative: debt (€66,695) exceeds the balance-sheet total (€36,922).
Key figures and ratios
EBITDA
€2,502▼
2024 · €3,244
Cash flow
€2,370▲
2024 · €2,197
Interest coverage
18.88▲
2024 · 13.28
Debt ≤ 1 year
€66,695▼
2024 · €66,956
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.5%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,341 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% | 1.0% |
| 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% 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 1,448 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €5 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €585 | €417 | €779 | €779 | €779 | = |
| Other operating charges640/8 | €675 | €76 | €462 | €220 | €220 | = |
| Non-recurring operating charges66A | - | - | - | - | €659 | - |
| Gross operating margin9900 | -€7,137 | €5,998 | -€1,774 | €3,464 | €3,382 | ▼ 2.4% |
| Operating profit (loss)9901 | -€8,397 | €5,505 | -€3,015 | €2,465 | €1,724 | ▼ 30.1% |
| Financial income75/76B | - | €2 | €1 | €1 | €0 | ▼ 100% |
| Recurring financial income75 | - | €2 | €1 | €1 | €0 | ▼ 100% |
| Financial charges65/66B | - | €18 | €18 | €1,048 | €133 | ▼ 87.3% |
| Recurring financial charges65 | - | €18 | €18 | €244 | €133 | ▼ 45.7% |
| Non-recurring financial charges66B | - | - | - | €804 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | -€8,397 | €5,488 | -€3,031 | €1,418 | €1,591 | ▲ 12.2% |
| Profit (loss) for the period9904 | -€8,397 | €5,488 | -€3,031 | €1,418 | €1,591 | ▲ 12.2% |
| Profit (loss) for the period to be appropriated9905 | -€8,397 | €5,488 | -€3,031 | €1,418 | €1,591 | ▲ 12.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €36,808 | €39,882 | €35,568 | €35,592 | €36,922 | ▲ 3.7% |
| Fixed assets21/28 | €1,399 | €5,368 | €4,594 | €3,815 | €3,036 | ▼ 20.4% |
| Tangible fixed assets22/27 | €656 | €4,624 | €3,850 | €3,071 | €2,293 | ▼ 25.4% |
| Plant, machinery and equipment23 | €656 | €4,624 | €3,850 | €1,443 | €895 | ▼ 38.0% |
| Other tangible fixed assets26 | - | - | - | €1,629 | €1,398 | ▼ 14.2% |
| Financial fixed assets28 | €744 | €744 | €744 | €744 | €744 | = |
| Current assets29/58 | €35,408 | €34,514 | €30,974 | €31,776 | €33,885 | ▲ 6.6% |
| Amounts receivable within one year40/41 | €30,136 | €31,614 | €26,473 | €26,511 | €23,975 | ▼ 9.6% |
| Trade receivables40 | - | - | €804 | €1,575 | €0 | ▼ 100% |
| Other amounts receivable41 | €30,136 | €31,614 | €25,669 | €24,936 | €23,975 | ▼ 3.9% |
| Cash at bank and in hand54/58 | €5,272 | €2,900 | €4,501 | €5,265 | €9,460 | ▲ 79.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | €450 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €36,808 | €39,882 | €35,568 | €35,592 | €36,922 | ▲ 3.7% |
| Equity10/15 | -€35,240 | -€29,751 | -€32,783 | -€31,364 | -€29,773 | ▲ 5.1% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | €18,592 | - | - | - | - | - |
| Issued capital100 | €18,592 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€53,832 | -€48,343 | -€51,375 | -€49,956 | -€48,365 | ▲ 3.2% |
| Amounts payable17/49 | €72,047 | €69,634 | €68,350 | €66,956 | €66,695 | ▼ 0.4% |
| Amounts payable within one year42/48 | €72,047 | €69,634 | €68,198 | €66,956 | €66,695 | ▼ 0.4% |
| Trade debts44 | €6,187 | €7,273 | €3,429 | €0 | €2,903 | - |
| Suppliers440/4 | €6,187 | €7,273 | €3,429 | €0 | €2,903 | - |
| Taxes, remuneration and social security45 | €1,072 | €0 | €165 | €245 | €463 | ▲ 88.8% |
| Taxes450/3 | €1,072 | €0 | €165 | €245 | €463 | ▲ 88.8% |
| Other amounts payable47/48 | €64,789 | €62,360 | €64,604 | €66,711 | €63,329 | ▼ 5.1% |
| Accrued charges and deferred income492/3 | - | - | €152 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,397 | €5,488 | -€3,031 | €1,418 | €1,591 | ▲ 12.2% |
| + Depreciation and write-downs630 | €585 | €417 | €779 | €779 | €779 | = |
| Operating cash flow (approximation) | -€7,812 | €5,906 | -€2,252 | €2,197 | €2,370 | ▲ 7.9% |
| Investment in fixed assets (approximation) | - | -€4,386 | -€5 | €0 | €0 | - |
| Change in cash | - | -€2,372 | €1,601 | €764 | €4,195 | ▲ 449% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
18-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 49 days late
2024
31-12
Financial
Back to profitnet €1,418
Net result €1,418 after one loss-making year.
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 55 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Back to profitnet €5,488
Net result €5,488 after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-12
Financial
Weakest financial yearnet -€8,397
Net result drops to -€8,397, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 119 days late
2019
31-12
Financial
Back to profitnet €2,100
Net result €2,100 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company in the Gazette acts read. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 1995
Ground area
185 m²
Building footprint
174 m²
Parcel 62020A0677/02G000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
STUDIO OSAKA
since 19952.069.721.959
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62020A0677/02G000 | Wallonia | 185 m² | 1 · 174 m² | - |
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.
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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 732 companies in this sector we hold annual accounts for 207. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded29-12-1994
Fiscal year end31-12
Activities, NACEBEL 2025
55209Other holiday and short-stay accommodation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0454050664
Also
9925:BE0454050664
Registered
16-07-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.