ROYAL ARMENIA

Active

Private limited companyfounded 201411 yrs activeLéon Theodorstraat 168, 1090 Jette, BelgiumKBO/BCE: BE 0507.657.319

The computed 12-month bankruptcy probability of ROYAL ARMENIA is 1.7% (moderate). The 2024 annual accounts show equity of €7k and a net result of €1k. Equity is shrinking by ~15.4% per year across the filed fiscal years. Its solvency ranks better than 27% of 26056 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

51 / 100

Fair▲ +11 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100▲+31

Solvency14▼-3

Growth32=

Stability100

Bankruptcy probability, 12 months

1.7% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity short (current ratio 0.96 against 0.99 in 2023), and 94% of the assets are financed with debt.

How do we compute the score and the probability?

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

Higher-failure-rate region

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

KBO · registered office

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

Return on assets

1.3%

Age of the figures

20 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €7k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 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 filings

Deviation from the deadline

2025

not confirmed

2024

26 d late

2023

28 d late

2022

60 d late

2021

61 d late

2020

66 d late

2019

38 d early

← before the deadline after the 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 2024, micro schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€1k▲ 92.7%

2023 · €712

2018: €9k 2019: €2k 2020: €-8k 2021: €-4k 2022: €2k 2023: €712

2018 → 2024

Working capital

€-4k▼ 541%

2023 · €-577

2018: €15k 2019: €13k 2020: €-4k 2021: €-1k 2022: €-1k 2023: €-577

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€7k-€2k▼ 63.6%€4k▲ 86.7%€5k▲ 16.1%€7k▲ 26.8%

Operating result€-7k-€-3k▲ 57.8%€4k€2k▼ 56.4%€4k▲ 97.6%

Net result€-8k-€-4k▲ 51.2%€2k€712▼ 65.3%€1k▲ 92.7%

Result per fiscal year

Operating resultNet result

The operating result recovers in 2024; 2024 is 98% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €108k

90.6%

Fixed assets €10k▲ 78.8%

Current assets €98k▲ 87.0%

Equity and liabilities €108k

94.0%

Equity €7k▲ 26.8%

Debt €102k▲ 92.0%

The debt ratio rises from 91.2% to 94.0%: debt grows faster than equity.

Key figures and ratios

2024 value · change against 2023

EBITDA

€4k

Cash flow

€2k

Solvency

6.0%▼

2023 · 8.8%

Current ratio

0.96▼

2023 · 0.99

Quick ratio

0.71▲

2023 · 0.61

Debt / equity

15.62▲

2023 · 10.31

ROE

21.1%▲

2023 · 13.9%

ROA

1.3%▲

2023 · 1.2%

Interest coverage

2.50

Debt

€102k▲

2023 · €53k

Debt ≤ 1 year

€102k▲

2023 · €53k

Income taxes

€601▲

2023 · €288

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€58k€108k▲

Fixed assets21/28€6k€10k▲

Tangible fixed assets22/27-€4k

Plant, machinery and equipment23-€4k

Financial fixed assets28€6k€6k=

Current assets29/58€52k€98k▲

Stocks and contracts in progress3€20k€26k▲

Stocks30/36€20k€26k▲

Amounts receivable within one year40/41€26k€66k▲

Trade receivables40€1k€50k▲

Other amounts receivable41€25k€16k▼

Cash at bank and in hand54/58€6k€6k▲

Equity and liabilities

Total equity and liabilities10/49€58k€108k▲

Equity10/15€5k€7k▲

Contributions10/11€19k€19k=

Reserves13€900€900=

Non-distributable reserves130/1€900€900=

Reserves not available under the articles1311€900€900=

Profit (loss) carried forward14€-14k€-13k▲

Amounts payable17/49€53k€102k▲

Amounts payable within one year42/48€53k€102k▲

Trade debts44€44k€47k▲

Suppliers440/4€44k€47k▲

Advances received on contracts in progress46-€53k

Taxes, remuneration and social security45€9k€1k▼

Taxes450/3€9k€1k▼

Remuneration and social security454/9€61€61=

Income statement Code20232024

Remuneration, social security and pensions62€6k-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€705

Other operating charges640/8€1k€2k▲

Non-recurring operating charges66A€129-

Gross operating margin9900€9k€7k▼

Operating profit (loss)9901€2k€4k▲

Financial income75/76B€2-

Recurring financial income75€2-

Financial charges65/66B€903€2k▲

Recurring financial charges65€903€2k▲

Profit (loss) for the period before taxes9903€1k€2k▲

Income taxes67/77€288€601▲

Profit (loss) for the period9904€712€1k▲

Profit (loss) for the period to be appropriated9905€712€1k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-14k€-13k▲

Profit (loss) brought forward from the previous period14P€-15k€-14k▲

The notes to these accounts (6 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 12Financial 2Filings 10

2025

26-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 26 days late

2024

28-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 28 days late

2023

29-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 60 days late

2022

31-12

Financial Back to profitnet €2k

Net result €2k after 2 loss-making years.

30-09

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 61 days late

2021

05-10

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 66 days late

2020

31-12

Financial Weakest financial yearnet €-8k ▼618%

Net result drops to €-8k, the lowest in the series; recovery starts the following year.

23-06

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

13-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 13 days late

2018

19-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

31-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 31 days late

2016

30-09

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 61 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

2 acts for this company are 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, Jette · 1 establishment unit since 2015

establishment The establishment unit on the map

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.

Léon Theodorstraat 1681090 Jette

Ground area

530 m²

Building footprint

175 m²

Volume, LiDAR

1,360 m³

Parcel 21463D0278/00W002, Brussels · tallest building 15.0 m, ±3 floors. Linked by address, not a title deed.

1 establishment unit

ROYAL ARMENIA

Léon Theodorstraat 168, 1090 JetteRetail trade

since 20152.238.001.123

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21463D0278/00W002	Brussels	530 m²	1 · 175 m²	14.9 m · 3 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 site

Jette2.238.001.123

1 permission

Toelating · Detailhandel · since 15-01-2015

Similar companies · same sector, comparable size

Of 10,412 companies in sector 47110 we hold annual accounts for 5,786. 2,903 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded22-12-2014

Fiscal year end31-12

Activities, NACEBEL

47110Non-specialised retail sale with food, beverages or tobacco predominating

47112Retail trade

Sources

Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers

Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.