Five Guys Belgium BV

Active

Private limited companyfounded 20179 yrs activeMarnixlaan 23, 1000 Brussel, BelgiumKBO/BCE: BE 0678.843.018

The computed 12-month bankruptcy probability of Five Guys Belgium BV is 7.0% (elevated). The 2025 annual accounts show negative equity (€-704k) and a net result of €-458k. Equity is shrinking by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 8% of 3674 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

19 / 100

Critical

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0=

Solvency0=

Growth76▲+18

Track record100

Bankruptcy probability, 12 months

7.0% Elevated

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.45 against 0.04 in 2024; short-term debt: 204.6% and cash: 31.2% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

+raises risk○neutral

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

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 2025

Solvency, return and age of the figures

Solvency

-104.6%

Return on assets

-68%

Age of the figures

9 mo

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

18202122232425

2018 to 2025 · latest year €-704k

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.

NBB · 8 filings

Deviation from the deadline

2025

31 d early

2024

23 d early

2023

50 d late

2022

112 d late

2021

37 d late

2020

100 d late

2019

143 d late

← before the deadline after the deadline →

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 months

Position in the running window

23-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Source amounts without an identifiable currency are assumed to be EUR.

Turnover

€5.46M▲ 11.8%

2024 · €4.88M

2024: €4.88M

2024 → 2025

EBIT margin

-6.7%▼ 0.4pp

2024 · -6.2%

2024: -6.2%

2024 → 2025

Net result

€-458k▼ 25.4%

2024 · €-365k

2018: €-2.64M 2020: €-1.35M 2021: €-1.78M 2022: €-1.69M 2023: €-1.45M 2024: €-365k

2018 → 2025

Working capital

€-763k▲ 92.4%

2024 · €-10.00M

2018: €-4.27M 2020: €-7.27M 2021: €-7.55M 2022: €-8.28M 2023: €-9.65M 2024: €-10.00M

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€4.88M€5.46M▲ 11.8%

Equity€-6.50M-€-8.19M▼ 26.0%€-9.64M▼ 17.7%€-10.00M▼ 3.8%€-704k▲ 93.0%

Operating result€-1.74M-€-1.63M▲ 6.4%€-1.39M▲ 14.6%€-304k▲ 78.2%€-364k▼ 19.7%

Net result€-1.78M-€-1.69M▲ 5.2%€-1.45M▲ 14.3%€-365k▲ 74.8%€-458k▼ 25.4%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €364k in 2025 against €304k in 2024; the loss grows.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €673k

91.2%

Fixed assets €59k▲ 196%

Current assets €614k▲ 33.6%

Key figures and ratios

2025 value · change against 2024

EBITDA

€-351k▼

2024 · €-284k

Cash flow

€-445k▼

2024 · €-345k

Solvency

-104.6%

Current ratio

0.45▲

2024 · 0.04

Quick ratio

0.42▲

2024 · 0.04

Debt / equity

-1.96▼

2024 · -1.05

ROA

-68.0%▲

2024 · -76.1%

Interest coverage

-3.73▲

2024 · -4.66

Debt

€1.38M▼

2024 · €10.48M

Debt ≤ 1 year

€1.38M▼

2024 · €10.46M

Staff costs

€1.88M▲

2024 · €1.59M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€480k€673k▲

Fixed assets21/28€20k€59k▲

Financial fixed assets28€20k€59k▲

Current assets29/58€460k€614k▲

Stocks and contracts in progress3€29k€30k▲

Stocks30/36€29k€30k▲

Amounts receivable within one year40/41€137k€220k▲

Trade receivables40€130k€214k▲

Other amounts receivable41€7k€6k▼

Cash at bank and in hand54/58€196k€210k▲

Deferred charges and accrued income490/1€98k€154k▲

Equity and liabilities

Total equity and liabilities10/49€480k€673k▲

Equity10/15€-10.00M€-704k▲

Contributions10/11€19k€9.78M▲

Profit (loss) carried forward14€-10.02M€-10.48M▼

Amounts payable17/49€10.48M€1.38M▼

Amounts payable within one year42/48€10.46M€1.38M▼

Trade debts44€172k€242k▲

Suppliers440/4€172k€242k▲

Taxes, remuneration and social security45€269k€350k▲

Taxes450/3€56k€104k▲

Remuneration and social security454/9€213k€245k▲

Other amounts payable47/48€10.02M€786k▼

Accrued charges and deferred income492/3€24k-

Income statement Code20242025

Turnover70€4.88M€5.46M▲

Goods, raw materials, services and sundry goods60/61€3.31M€3.77M▲

Remuneration, social security and pensions62€1.59M€1.88M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€13k▼

Other operating charges640/8€70k€72k▲

Non-recurring operating charges66A€193k€97k▼

Gross operating margin9900€1.57M€1.69M▲

Operating profit (loss)9901€-304k€-364k▼

Financial charges65/66B€61k€94k▲

Recurring financial charges65€61k€94k▲

Profit (loss) for the period before taxes9903€-365k€-458k▼

Profit (loss) for the period9904€-365k€-458k▼

Profit (loss) for the period to be appropriated9905€-365k€-458k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-10.02M€-10.48M▼

Profit (loss) brought forward from the previous period14P€-9.66M€-10.02M▼

Social balance

Average headcount (FTE)908717.418.2▲

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 8Filings 8

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-06