ALBERT SERVICE
InactiveSignals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline01-10-2026 today
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 29-08-2022, 29 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2021
29 d late
2020
on the day
2019
4 d early
2018
6 d early
2017
26 d early
2016
49 d early
2015
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 1 day after the deadline; the Belgian median for financial year 2021 is 3 days before the deadline, and 44% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2021, micro schema
Equity
€27,263▲ 1.2%
2020 · €26,948
Total assets
€48,876▼ 10.3%
2020 · €54,490
Net result
€315▼ 11.8%
2020 · €357
Working capital
€7,790▼ 47.8%
2020 · €14,918
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Operating result€2,558-€3,206▲ 25.3%€3,025▼ 5.6%€3,038▲ 0.4%
Net result€642-€952▲ 48.3%€357▼ 62.5%€315▼ 11.8%
Equity€25,639-€26,591▲ 3.7%€26,948▲ 1.3%€27,263▲ 1.2%
Total assets€48,379-€45,019▼ 6.9%€54,490▲ 21.0%€48,876▼ 10.3%
Debt€22,740-€18,428▼ 19.0%€27,542▲ 49.5%€21,613▼ 21.5%
Working capital€24,101-€20,622▼ 14.4%€14,918▼ 27.7%€7,790▼ 47.8%
Staff (FTE)2.4-2.2▼ 8.3%2.2=5.2▲ 136%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2021; 2021 is 0% above 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €48,876
Fixed assets
€19,473 ▲ 61.9%
Current assets
€29,403 ▼ 30.8%
Equity and liabilities €48,876
Equity
€27,263 ▲ 1.2%
Debt
€21,613 ▼ 21.5%
Debt's share of the balance-sheet total falls from 50.5% to 44.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,933▲
2020 · €4,291
Cash flow
€3,210▲
2020 · €1,623
Current ratio
1.36▼
2020 · 1.54
Debt to equity
0.79
ROE
1.2%▼
2020 · 1.3%
ROA
0.6%▼
2020 · 0.7%
Interest coverage
2.18
Debt ≤ 1 year
€21,613▼
2020 · €27,542
Staff costs
€28,405
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €28,405 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,694 | €1,781 | €1,266 | €2,895 | ▲ 129% |
| Other operating charges640/8 | - | - | - | €7,581 | - |
| Gross operating margin9900 | €61,614 | €56,014 | €33,167 | €41,919 | ▲ 26.4% |
| Operating profit (loss)9901 | €2,558 | €3,206 | €3,025 | €3,038 | ▲ 0.4% |
| Financial charges65/66B | - | - | - | €2,723 | - |
| Recurring financial charges65 | €1,646 | €2,224 | €2,668 | €2,723 | ▲ 2.1% |
| Profit (loss) for the period before taxes9903 | €912 | €982 | €357 | €315 | ▼ 11.8% |
| Income taxes67/77 | €270 | €30 | - | - | - |
| Profit (loss) for the period9904 | €642 | €952 | €357 | €315 | ▼ 11.8% |
| Profit (loss) for the period to be appropriated9905 | €642 | €952 | €357 | €315 | ▼ 11.8% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €48,379 | €45,019 | €54,490 | €48,876 | ▼ 10.3% |
| Fixed assets21/28 | €1,538 | €5,969 | €12,030 | €19,473 | ▲ 61.9% |
| Tangible fixed assets22/27 | €538 | €4,969 | €11,030 | €18,473 | ▲ 67.5% |
| Furniture and vehicles24 | - | - | - | €18,473 | - |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Current assets29/58 | €46,841 | €39,050 | €42,460 | €29,403 | ▼ 30.8% |
| Amounts receivable after more than one year29 | - | - | - | €3,874 | - |
| Trade receivables290 | - | - | - | €3,874 | - |
| Amounts receivable within one year40/41 | €19,001 | €9,256 | €31,711 | €25,442 | ▼ 19.8% |
| Trade receivables40 | - | - | - | €22,857 | - |
| Other amounts receivable41 | - | - | - | €2,585 | - |
| Cash at bank and in hand54/58 | - | €1,953 | €2,341 | €87 | ▼ 96.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €48,379 | €45,019 | €54,490 | €48,876 | ▼ 10.3% |
| Equity10/15 | €25,639 | €26,591 | €26,948 | €27,263 | ▲ 1.2% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | - |
| Reserves13 | €304 | €304 | €304 | €304 | = |
| Non-distributable reserves130/1 | - | - | - | €304 | - |
| Reserves not available under the articles1311 | - | - | - | €304 | - |
| Profit (loss) carried forward14 | €6,743 | €7,695 | €8,052 | €8,367 | ▲ 3.9% |
| Amounts payable17/49 | €22,740 | €18,428 | €27,542 | €21,613 | ▼ 21.5% |
| Amounts payable within one year42/48 | €22,740 | €18,428 | €27,542 | €21,613 | ▼ 21.5% |
| Financial debts43 | - | - | - | €13,831 | - |
| Credit institutions430/8 | - | - | - | €13,831 | - |
| Trade debts44 | €4,613 | €486 | €10,706 | €5,188 | ▼ 51.5% |
| Suppliers440/4 | - | - | - | €5,188 | - |
| Taxes, remuneration and social security45 | - | - | - | €2,594 | - |
| Taxes450/3 | - | - | - | €300 | - |
| Remuneration and social security454/9 | - | - | - | €2,294 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €642 | €952 | €357 | €315 | ▼ 11.8% |
| + Depreciation and write-downs630 | €2,694 | €1,781 | €1,266 | €2,895 | ▲ 129% |
| Operating cash flow (approximation) | €3,336 | €2,733 | €1,623 | €3,210 | ▲ 97.8% |
| Investment in fixed assets (approximation) | - | -€6,212 | -€7,327 | -€10,338 | ▼ 41.1% |
| Change in cash | - | - | €388 | -€2,254 | ▼ 681% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2024
07-05
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Brussel · event 30-04-2024
2023
19-06
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · event 13-06-2023
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Weakest financial yearnet €315 ▼11.8%
Net result drops to €315, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €952 ▲48.3%
Operating result €3,206, net result €952, both a record.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
2015
03-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 3 days late
2014
01-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 1 day late
2013
05-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 5 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 8 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MAARTEN BENTEIN Edmond Tollenaere- Straat 56-76 B23, 1020 Brussel 2- maart |
13-06-2023 → 30-04-2024 |