ART CONCEPT
InactiveART CONCEPT was declared bankrupt on 20-07-2022 (Ondernemingsrechtbank Gent, afdeling Brugge); the bankruptcy was closed for insufficient assets by judgment of 19-02-2024, published in the Belgian State Gazette on 26-02-2024.
No longer registered with the KBO; last annual accounts for fiscal year 2021.
Signals
Four 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 30-09-2022, 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
30-09-2022 close30-04-2023 deadline21-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 30-09-2021 was due by 30-04-2022 and was filed on 21-06-2022, 52 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 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
52 d late
2020
31 d late
2019
396 d late
← before the deadline
after the deadline →
Financials · fiscal year 2021, abbreviated schema
Equity
€-111k▼ 28.5%
2020 · €-86k
2018: €-57k
2019: €-52k
2020: €-86k
2018 → 2021
Total assets
€50k▲ 4.6%
2020 · €48k
2018: €57k
2019: €63k
2020: €48k
2018 → 2021
Net result
€-25k▲ 28.2%
2020 · €-34k
2018: €-51k
2019: €5k
2020: €-34k
2018 → 2021
Working capital
€-112k▼ 20.6%
2020 · €-93k
2018: €-79k
2019: €-75k
2020: €-93k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€-57k-€-52k▲ 9.0%€-86k▼ 65.8%€-111k▼ 28.5%
Operating result€-48k-€8k€-30k€-9k▲ 71.0%
Net result€-51k-€5k€-34k€-25k▲ 28.2%
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 €9k in 2021 against €30k in 2020; the loss shrinks.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €50k
Fixed assets
€14k▼ 11.4%
Current assets
€35k▲ 12.8%
Key figures and ratios
EBITDA
€-7k▲
2020 · €-28k
Cash flow
€-23k▲
2020 · €-32k
Solvency
-221.9%▼
2020 · -180.6%
Current ratio
0.24▼
2020 · 0.25
Quick ratio
0.03▲
2020 · 0.02
Debt / equity
-1.45
ROA
-49.2%▲
2020 · -71.7%
Interest coverage
-1.59
Debt
€160k▲
2020 · €134k
Debt ≤ 1 year
€148k▲
2020 · €124k
Income taxes
€12k▲
2020 · €49
Staff costs
€96
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 · 2021 against 2020
Balance sheet
Code20202021
Assets
Total assets20/58€48k€50k▲
Fixed assets21/28€16k€14k▼
Tangible fixed assets22/27€4k€2k▼
Other tangible fixed assets26-€2k
Financial fixed assets28€12k€12k=
Current assets29/58€31k€35k▲
Stocks and contracts in progress3€29k€31k▲
Stocks30/36-€31k
Amounts receivable within one year40/41€587€2k▲
Other amounts receivable41-€2k
Cash at bank and in hand54/58€1k€2k▲
Deferred charges and accrued income490/1-€147
Equity and liabilities
Total equity and liabilities10/49€48k€50k▲
Equity10/15€-86k€-111k▼
Contributions10/11-€44k
Profit (loss) carried forward14€-130k€-154k▼
Amounts payable17/49€134k€160k▲
Amounts payable within one year42/48€124k€148k▲
Financial debts43-€7k
Credit institutions430/8-€7k
Trade debts44€19k€22k▲
Suppliers440/4-€22k
Taxes, remuneration and social security45-€35k
Taxes450/3-€34k
Remuneration and social security454/9-€1k
Other amounts payable47/48-€84k
Accrued charges and deferred income492/3-€13k
Income statement
Code20202021
Remuneration, social security and pensions62-€96
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▼
Other operating charges640/8-€4k
Gross operating margin9900€-24k€-3k▲
Operating profit (loss)9901€-30k€-9k▲
Financial income75/76B-€65
Recurring financial income75€49€65▲
Financial charges65/66B-€4k
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€-34k€-13k▲
Income taxes67/77€49€12k▲
Profit (loss) for the period9904€-34k€-25k▲
Profit (loss) for the period to be appropriated9905€-34k€-25k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-154k
Profit (loss) brought forward from the previous period14P-€-130k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
26-02
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Brugge · ART CONCEPT BV LIPPENSLAAN 204, 8300 KNOKKE-HEIST · event 19-02-2024
2022
26-07
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · ART CONCEPT BV LIPPENS- LAAN 204, 8300 KNOKKE-HEIST · event 20-07-2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 52 days late
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
31-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 396 days late
2019
30-09
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 76 days late
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
15-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 15 days late
2016
04-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 4 days late
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 29 days late
2013
25-06
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
2012
12-07
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ASTRID LESCOUHIER EZELSTRAAT 25, 8000 BRUGGE- |
20-07-2022 → present |