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Complete company report
Generated 11-08-2026
Active BE 0430.471.944Non-profit association

ECHAFAUDAGE

Rue Fosse-aux-Raines 40 ·4020 Liège, Belgium· 40 yrs active
Sector: Food & beverage service (56111)
Conclusion Checked

The computed 12-month bankruptcy probability of ECHAFAUDAGE is 0.1% (very low). The 2022 annual accounts show equity of €51k and a net result of €105. Equity is growing by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 56% of 269 sector peers (fiscal year 2022). The company has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.
Key figures
Equity €51k
Net result €105
Staff (FTE) 15
Better than sector 56%
Snowflake analysis 5 of 5 axes measured · computed by Checked
Health73Profitability1Solvency56Growth52Stability100
56 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 73
Profitability 1
Solvency 56
Growth 52
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
0.1% Very low
0%0,5%1,5%4%10%≥25%
Lower-risk legal form −Higher-failure-rate sector +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 2 signals
Long-established
Founded in 1986, 40 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags 0 events
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Health barometer FY 2022 · computed
73 / 100 Healthy
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

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Computed by Checked from the NBB filing for FY 2022. Indicative, not credit advice.
Financial overview10 NBB filings
Annual accounts filed on 04-08-2023 with the NBB · fiscal year 2022 · volledig
€0€50k€100k€150kOperating result 2018: €2k€2kNet result 2018: €8k€8kOperating result 2019: €4k€4kNet result 2019: €10k€10kRevenue 2020: €142k€142kOperating result 2020: €18k€18kNet result 2020: €19k€19kOperating result 2021: €2k€2kNet result 2021: €626€626Operating result 2022: €2k€2kNet result 2022: €105€10520182019202020212022
RevenueOperating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~14.1%/year over 5 fiscal years, indicative, assuming unchanged policy.
€20k€40k€60k€80k2023: €60k (€56k - €64k)2024: €69k (€62k - €75k)2025: €78k (€69k - €87k)2018: €31k2019: €33k2020: €50k2021: €51k2022: €51k20182019202020212022202320242025
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2022 · NACE 56, Food & beverage service · compared within the same schema type (full schema)
Metric This company Sector median Position in the sector
Solvency 16.4% 10.4%
better than 56% of 269 sector peers
Net result €105 €-165
better than 51% of 269 sector peers
Equity €51k €13k
better than 68% of 271 sector peers
Gross operating margin €910k €91k
better than 95% of 256 sector peers
Staff costs €918k €147k
higher than 92% of 210 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Revenue
€142k
- 18-22
EBITDA
€12k
+22.1% 18-22
Net profit
€105
-83.2% 18-22
Cash flow
€10k
+25.7% 18-22
Total assets
€310k
-15.4% 18-22
Equity
€51k
-0.3% 18-22
Working capital
€164k
-31.0% 18-22
Employees (FTE)
15
+4.9% 18-22
Staff costs
€918k
+32.9% 18-22
Income taxes
€147
+8.1% 18-22
Debt
€142k
-20.1% 18-22
Debt ≤ 1y
€128k
+8.8% 18-22
Debt > 1y
€0
-100.0% 18-22
Current ratio
2.28
-24.4% 18-22
Quick ratio
2.24
-24.7% 18-22
Solvency
16.4%
+17.9% 18-22
Debt / equity
2.80
-19.9% 18-22
ROE
0.2%
-83.2% 18-22
ROA
0.0%
-80.2% 18-22
Net margin
13.6%
- 18-22
EBITDA margin
20.4%
- 18-22
Interest coverage
3.66
-35.1% 18-22
Figures by fiscal year
Fiscal year2022
Depositvolledig
Revenue-
EBITDA€12k
Net profit€105
Cash flow€10k
Staff costs€918k
Income taxes€147
Dividends-
Total assets€310k
Equity€51k
Debt€142k
of which ≤ 1y€128k
of which > 1y€0
Working capital€164k
Employees (FTE)15.0
Ratios (computed)
2022
Current ratio2.28
Quick ratio2.24
Working capital ratio52.9%
Solvency16.4%
Debt / equity2.80
Long-term debt ratio0.00
Interest coverage3.66
Gross margin-
Net margin-
ROA0.0%
ROE0.2%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2022
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2022
Balance sheet, Assets
TOTAL ASSETS 20/58€310k
Fixed assets 21/28€18k
Tangible fixed assets 22/27€17k
Financial fixed assets 28€300
Current assets 29/58€292k
Stocks & contracts in progress 3€5k
Amounts receivable within one year 40/41€152k
Cash & bank 54/58€126k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€310k
Equity 10/15€51k
Accumulated profits (losses) 14€18k
Provisions & deferred taxes 16€117k
Amounts payable 17/49€142k
Amounts payable after one year 17€0
Amounts payable within one year 42/48€128k
Trade debts payable within one year 44€25k
Income statement
Gross operating margin 9900€910k
Operating result 9901€2k
Financial income 75€1k
Financial charges 65€3k
Result before taxes 9903€252
Income taxes 67/77€147
Net result for the period 9904€105
Result to be appropriated 9905€105
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 2 directors
Former directors (2)
  • ADAM Nicole
    Director
    State Gazette act 25085244 (08-07-2025)
    Former
    - → 08-07-2025
  • EEMAN Morgane
    Director
    State Gazette act 25085244 (08-07-2025)
    Former
    - → 08-07-2025
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Legal Structure
NACE primary Food & beverage service(56111)
Legal form Non-profit association(017)
Incorporation20-02-1986
StatusActive
Postal code4020
Establishment units 1 location
ECHAFAUDAGE
Rue Fosse-aux-Raines 40, 4020 LiègeVolwassenenvorming
since 19862.160.893.051
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
62808A0712/00N000 Wallonia 1,249 m² 1 · 239 m² 19.6 m · 6 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 11 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
08-07-2025
State Gazette act Director changes
2023
04-08-2023
NBB filing Annual accounts filed
fiscal year 2022 · volledig
2022
23-08-2022
NBB filing Annual accounts filed
fiscal year 2021 · volledig
2021
11-08-2021
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2020
31-08-2020
NBB filing Annual accounts filed
fiscal year 2019 · volledig
2019
29-08-2019
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2018
31-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · volledig
2017
29-09-2017
NBB filing Annual accounts filed
fiscal year 2016 · volledig
2016
26-09-2016
NBB filing Annual accounts filed
fiscal year 2015 · volledig
2015
06-10-2015
NBB filing Annual accounts filed
fiscal year 2014 · volledig
2014
22-09-2014
NBB filing Annual accounts filed
fiscal year 2013 · volledig
Belgisch Staatsblad, acts 1 acts
All acts · 1 updated 1 year ago
2025
08-07-2025 2 resigning, 4 reappointed Director changes
  • ADAM Nicole, Bestuurder
  • EEMAN Morgane, Bestuurder
  • BRICART Jean, Bestuurder
  • DUFAYS Christian, Bestuurder
  • THÉRASSE Daniel, Bestuurder
  • BALBOURG Philippe, Délégué à la gestion jourmalière
Technical details 
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Credit advice verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
AI due-diligence brief Checked AI

Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

Coming soon
The brief is drafted by our AI model at Anthropic in the US, from this dossier's public data. Nothing that identifies you is sent along and we do not keep the brief. Indicative, not legal or investment advice. How it works
Company registry (CBE) Crossroads Bank
Activities
Restaurants van het traditionele type55301Eetgelegenheden met volledige bediening56101Activiteiten van eetgelegenheden met volledige bediening56111Volwassenenvorming80421Beroepsopleiding85592Beroepsopleiding85592
Primary activity highlighted.
Names & trade names
Legal nameFR ECHAFAUDAGE
Registered office
Rue Fosse-aux-Raines 40
4020 Liège, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative