KHAEL
ActiveKHAEL has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11k and a net result of €-5k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 51% of 8002 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
43
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-45
Solvency71▼-12
Growth57▼-2
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity ample (current ratio 1.73 against 2.24 in 2024; short-term debt: 54.4% and cash: 8.2% of total assets), but 54.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
45.6%
Return on assets
-21.7%
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 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
on the day
2023
9 d late
2022
6 d late
2021
31 d late
2020
27 d late
2019
81 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€280k▲ 3.9%
2024 · €270k
2018: €142k
2019: €158k
2020: €170k
2021: €154k
2022: €169k
2023: €216k
2024: €270k
2018 → 2025
EBIT margin
-1.7%▼ 2.6pp
2024 · 1.0%
2018: 3.0%
2019: -1.6%
2020: -3.7%
2021: 3.6%
2022: 6.5%
2023: 5.6%
2024: 1.0%
2018 → 2025
Net result
€-5k
2024 · €891
2018: €3k
2019: €-4k
2020: €-7k
2021: €4k
2022: €10k
2023: €12k
2024: €891
2018 → 2025
Working capital
€10k▼ 35.2%
2024 · €15k
2018: €-529
2019: €-4k
2020: €-11k
2021: €-7k
2022: €3k
2023: €14k
2024: €15k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€154k-€169k▲ 9.8%€216k▲ 27.9%€270k▲ 25.1%€280k▲ 3.9%
Equity€-6k-€4k€16k▲ 265%€17k▲ 5.6%€11k▼ 32.2%
Operating result€6k-€11k▲ 96.5%€12k▲ 10.0%€3k▼ 78.4%€-5k
Net result€4k-€10k▲ 125%€12k▲ 15.5%€891▼ 92.3%€-5k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €5k after €3k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €25k
Fixed assets
€1k=
Current assets
€24k▼ 15.1%
Equity and liabilities €25k
Equity
€11k▼ 32.2%
Debt
€14k▲ 9.7%
The debt ratio rises from 42.5% to 54.4%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
45.6%▼
2024 · 57.5%
Current ratio
1.73▼
2024 · 2.24
Quick ratio
0.48▲
2024 · 0.42
Debt / equity
1.20▲
2024 · 0.74
ROE
-47.6%▼
2024 · 5.3%
ROA
-21.7%▼
2024 · 3.1%
Debt
€14k▲
2024 · €12k
Debt ≤ 1 year
€14k▲
2024 · €12k
Staff costs
€19k▲
2024 · €18k
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€29k€25k▼
Fixed assets21/28€1k€1k=
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€0€0=
Plant, machinery and equipment23€0€0=
Furniture and vehicles24€0€0=
Other tangible fixed assets26€0€0=
Financial fixed assets28€1k€1k=
Current assets29/58€28k€24k▼
Stocks and contracts in progress3€23k€17k▼
Stocks30/36€23k€17k▼
Amounts receivable within one year40/41€4k€4k=
Trade receivables40€4k€4k=
Other amounts receivable41€0€0=
Cash at bank and in hand54/58€752€2k▲
Deferred charges and accrued income490/1€446€446=
Equity and liabilities
Total equity and liabilities10/49€29k€25k▼
Equity10/15€17k€11k▼
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€743€743=
Non-distributable reserves130/1€743€743=
Legal reserve130€743€743=
Profit (loss) carried forward14€-3k€-8k▼
Amounts payable17/49€12k€14k▲
Amounts payable within one year42/48€12k€14k▲
Financial debts43€5k€4k▼
Credit institutions430/8€5k€4k▼
Trade debts44€1k€3k▲
Suppliers440/4€1k€3k▲
Taxes, remuneration and social security45€5k€6k▲
Taxes450/3€317€409▲
Remuneration and social security454/9€5k€6k▲
Other amounts payable47/48€1k€0▼
Income statement
Code20242025
Turnover70€270k€280k▲
Goods, raw materials, services and sundry goods60/61€242k€267k▲
Remuneration, social security and pensions62€18k€19k▲
Other operating charges640/8€7k€2k▼
Gross operating margin9900€27k€16k▼
Operating profit (loss)9901€3k€-5k▼
Financial charges65/66B€891€774▼
Recurring financial charges65€891€774▼
Profit (loss) for the period before taxes9903€2k€-5k▼
Income taxes67/77€834-
Profit (loss) for the period9904€891€-5k▼
Profit (loss) for the period to be appropriated9905€891€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€-8k▼
Profit (loss) brought forward from the previous period14P€-3k€-3k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
31-12
Financial
Highest result since 2018net €12k ▲15.5%
Operating result €12k, net result €12k, both a record.
06-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 6 days late
2022
31-12
Financial
Liquidity quadruplescurrent ratio 1.77
Current ratio from 0.46 to 1.77; short-term debt falls from €13k to €4k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 81 days late
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 2 days late
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 49 days late
2017
19-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 80 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Jans-Molenbeek · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Leopold II laan 118-1201080 Sint-Jans-MolenbeekGround area
96 m²
Building footprint
96 m²
Volume, LiDAR
1,200 m³
Parcel 21012A0117/00P005, Brussels · tallest building 16.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Leopold II laan 118, 1080 Sint-Jans-Molenbeek
since 19982.085.813.665
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21012A0117/00P005 | Brussels | 96 m² | 1 · 96 m² | 16.8 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Jans-Molenbeek2.085.813.665
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ICE BOULPAT
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MAISON DEMEZ
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Of 1,428 companies in sector 46389 we hold annual accounts for 856. 338 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-03-1998
Fiscal year end31-12
Activities, NACEBEL
46389Wholesale of other food products
47110Non-specialised retail sale with food, beverages or tobacco predominating
47112Retail trade
51384
52112
46360Wholesale trade
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.