Checked.be
Active
BE 0562.867.145Private limited company
ISARO
Pastoor Van de Wouwerstraat 5 ·2600 Antwerpen, Belgium· 11 yrs active
Sector: Full-service restaurants
(56111)
Conclusion
ISARO has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €170k and a net result of €40k. Equity is growing by ~27.8% per year across the filed fiscal years. Its solvency ranks better than 78% of 3462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €170k |
| Net result | €40k |
| Staff (FTE) | 2.7 |
| Better than sector | 78% |
Financial profile
94
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
93
Profitability
100
Solvency
98
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2014, 11 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
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.
Checked score
93
/ 100
Excellent
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.
Indicative credit limit
€16k
estimate, not credit advice
Score history
78
2021
93
2022
79
2023
100
2024
93
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.95 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.90 (≥ 1.0)
+5
Leverage
Debt/equity 0.65 (< 1.0)
+10
Profitability
ROE 23% (≥ 10%)
+10
Interest coverage
Interest coverage 12.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 12-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~27.8%/year over 5 fiscal years, indicative, assuming unchanged policy.
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 2025 · NACE 56, Food and beverage service activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 60.5% | 29.8% | |
| Net result | €40k | €11k | |
| Equity | €170k | €90k | |
| Gross operating margin | €373k | €260k | |
| Staff costs | €302k | €250k |
€69k
-11.8%
21-25
€40k
-6.0%
21-25
€50k
-11.3%
21-25
€281k
+21.4%
21-25
€170k
+30.3%
21-25
€106k
+18.5%
21-25
3
-62.0%
21-25
€302k
+8.9%
21-25
€15k
-17.1%
21-25
€111k
+9.8%
21-25
€111k
+9.8%
21-25
1.95
+3.7%
21-25
1.90
+6.6%
21-25
60.5%
+7.4%
21-25
0.65
-15.7%
21-25
23.3%
-27.9%
21-25
14.1%
-22.6%
21-25
12.24
-29.2%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €69k | €78k | €21k | €37k | €44k |
| Net profit | €40k | €42k | €7k | €17k | €29k |
| Cash flow | €50k | €56k | €19k | €30k | €42k |
| Staff costs | €302k | €277k | €258k | €194k | €106k |
| Income taxes | €15k | €18k | €5k | €3k | - |
| Dividends | - | - | - | - | - |
| Total assets | €281k | €231k | €190k | €151k | €213k |
| Equity | €170k | €130k | €88k | €81k | €63k |
| Debt | €111k | €101k | €102k | €70k | €149k |
| of which ≤ 1y | €111k | €101k | €102k | €70k | €149k |
| of which > 1y | - | - | - | - | - |
| Working capital | €106k | €89k | €53k | €44k | €19k |
| Employees (FTE) | 2.7 | 7.1 | 6.6 | 15.6 | 8.7 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.95 | 1.88 | 1.52 | 1.63 | 1.13 |
| Quick ratio | 1.90 | 1.78 | 1.46 | 1.57 | 1.10 |
| Working capital ratio | 37.6% | 38.5% | 28.0% | 29.4% | 9.1% |
| Solvency | 60.5% | 56.4% | 46.5% | 53.6% | 29.8% |
| Debt / equity | 0.65 | 0.77 | 1.15 | 0.86 | 2.35 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 12.24 | 17.28 | 7.60 | 8.36 | 18.62 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 14.1% | 18.2% | 3.9% | 11.6% | 13.7% |
| ROE | 23.3% | 32.3% | 8.4% | 21.6% | 45.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €281k | €231k | €190k | €151k | €213k |
| Fixed assets | 21/28 | €64k | €41k | €35k | €37k | €44k |
| Intangible fixed assets | 21 | €5k | €2k | €3k | - | - |
| Tangible fixed assets | 22/27 | €49k | €29k | €22k | €26k | €34k |
| Financial fixed assets | 28 | €10k | €10k | €10k | €10k | €10k |
| Current assets | 29/58 | €217k | €190k | €155k | €114k | €169k |
| Stocks & contracts in progress | 3 | €6k | €10k | €6k | €5k | €5k |
| Amounts receivable within one year | 40/41 | €122k | €84k | €13k | €10k | €42k |
| Cash & bank | 54/58 | €89k | €95k | €130k | €99k | €121k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €281k | €231k | €190k | €151k | €213k |
| Equity | 10/15 | €170k | €130k | €88k | €81k | €63k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €62k | €62k | €62k | €62k | €45k |
| Accumulated profits (losses) | 14 | €89k | €50k | €7k | - | - |
| Amounts payable | 17/49 | €111k | €101k | €102k | €70k | €149k |
| Amounts payable within one year | 42/48 | €111k | €101k | €102k | €70k | €149k |
| Trade debts payable within one year | 44 | €47k | €44k | €58k | €26k | €56k |
| Income statement | ||||||
| Gross operating margin | 9900 | €373k | €356k | €287k | €232k | €151k |
| Operating result | 9901 | €59k | €64k | €10k | €25k | €31k |
| Financial income | 75 | €1k | €152 | €5k | €17 | - |
| Financial charges | 65 | €6k | €5k | €3k | €4k | €2k |
| Result before taxes | 9903 | €54k | €60k | €12k | €20k | €29k |
| Income taxes | 67/77 | €15k | €18k | €5k | €3k | - |
| Net result for the period | 9904 | €40k | €42k | €7k | €17k | €29k |
| Result to be appropriated | 9905 | €40k | €42k | €7k | €17k | €29k |
Legal Structure
| NACE primary | Full-service restaurants(56111) |
| Legal form | Private limited company(610) |
| Incorporation | 17-09-2014 |
| Status | Active |
| Postal code | 2600 |
Establishment units
IN DE STOOP
since 20142.236.673.312
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11303C0286/00K003 | Flanders | 209 m² | 1 · 99 m² | 11.9 m · 4 fl. |
| 11803C2429/00A000 | Flanders | 35 m² | 1 · 35 m² | 14.2 m · 4 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Updates
Next filing, fiscal year 2026, expected by
2026
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 12 days late
2025
31-12
Financial
Equity above €150kEq €170k ▲30.3%
5 profitable years in a row build equity to €170k.
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 54 days late
2024
31-12
Financial
Highest result since 2021net €42k ▲468%
Operating result €64k, net result €42k, both a record.
31-12
Financial
Equity above €100kEq €130k ▲47.7%
4 profitable years in a row build equity to €130k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €7k ▼57.6%
Net result drops to €7k, the lowest in the series; recovery starts the following year.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Full-service restaurants56101Full-service restaurants56111
Names & trade names
| Legal nameNL | ISARO |
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