BELBOW
InactiveBELBOW was declared bankrupt on 24-10-2022 (Ondernemingsrechtbank Gent, afdeling Oostende); the bankruptcy was closed by liquidation by judgment of 15-01-2025, published in the Belgian State Gazette on 24-01-2025.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 3 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline28-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 17-02-2022, 201 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
201 d late
2019
420 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 311 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2020, micro schema
Equity
€34,834▲ 3.9%
2019 · €33,520
Total assets
€97,552▲ 44.5%
2019 · €67,509
Net result
€1,314▼ 80.2%
2019 · €6,624
Working capital
€11,090▼ 67.2%
2019 · €33,774
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line201820192020
Operating result€20,632-€9,874▼ 52.1%-€22,207
Net result€20,679-€6,624▼ 68.0%€1,314▼ 80.2%
Equity€26,896-€33,520▲ 24.6%€34,834▲ 3.9%
Total assets€62,901-€67,509▲ 7.3%€97,552▲ 44.5%
Debt€36,005-€33,989▼ 5.6%€62,718▲ 84.5%
Working capital€27,151-€33,774▲ 24.4%€11,090▼ 67.2%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2020: a loss of €22,207 after €9,874 in 2019, the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €97,552
Fixed assets
€28,709 ▲ 27.0%
Current assets
€68,842 ▲ 53.3%
Equity and liabilities €97,552
Equity
€34,834 ▲ 3.9%
Debt
€62,718 ▲ 84.5%
Debt's share of the balance-sheet total rises from 50.3% to 64.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€8,629▼
2019 · €9,874
Cash flow
€14,893▲
2019 · €6,624
Current ratio
1.19▼
2019 · 4.03
Debt to equity
0.14▼
2019 · 0.68
ROE
3.8%▼
2019 · 19.8%
ROA
1.3%▼
2019 · 9.8%
Debt ≤ 1 year
€57,752▲
2019 · €11,136
Debt > 1 year
€4,965▼
2019 · €22,853
Income taxes
€478▼
2019 · €3,057
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,821 | €0 | €13,579 | - |
| Gross operating margin9900 | €31,448 | €10,568 | -€8,497 | ▼ 180% |
| Operating profit (loss)9901 | €20,632 | €9,874 | -€22,207 | ▼ 325% |
| Recurring financial income75 | €435 | €0 | - | - |
| Recurring financial charges65 | €388 | €193 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €20,679 | €9,680 | €1,793 | ▼ 81.5% |
| Income taxes67/77 | - | €3,057 | €478 | ▼ 84.3% |
| Profit (loss) for the period9904 | €20,679 | €6,624 | €1,314 | ▼ 80.2% |
| Profit (loss) for the period to be appropriated9905 | €20,679 | €6,624 | €1,314 | ▼ 80.2% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €62,901 | €67,509 | €97,552 | ▲ 44.5% |
| Fixed assets21/28 | €22,598 | €22,598 | €28,709 | ▲ 27.0% |
| Tangible fixed assets22/27 | €22,598 | €22,598 | €28,709 | ▲ 27.0% |
| Current assets29/58 | €40,303 | €44,911 | €68,842 | ▲ 53.3% |
| Amounts receivable within one year40/41 | €14,730 | €42,017 | €24,784 | ▼ 41.0% |
| Cash at bank and in hand54/58 | €25,551 | €2,850 | €37,566 | ▲ 1,218% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €62,901 | €67,509 | €97,552 | ▲ 44.5% |
| Equity10/15 | €26,896 | €33,520 | €34,834 | ▲ 3.9% |
| Contributions10/11 | €6,217 | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €18,819 | €25,443 | €26,757 | ▲ 5.2% |
| Amounts payable17/49 | €36,005 | €33,989 | €62,718 | ▲ 84.5% |
| Amounts payable after more than one year17 | €22,853 | €22,853 | €4,965 | ▼ 78.3% |
| Amounts payable within one year42/48 | €13,152 | €11,136 | €57,752 | ▲ 419% |
| Trade debts44 | €2,608 | €0 | €47,933 | - |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,679 | €6,624 | €1,314 | ▼ 80.2% |
| + Depreciation and write-downs630 | €8,821 | €0 | €13,579 | - |
| Operating cash flow (approximation) | €29,500 | €6,624 | €14,893 | ▲ 125% |
| Investment in fixed assets (approximation) | - | €0 | -€19,690 | ▼ 39,379,920% |
| Change in cash | - | -€22,701 | €34,717 | ▲ 253% |
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
2025
24-01
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Oostende · event 15-01-2025
2022
28-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oostende · event 24-10-2022
17-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 201 days late
2021
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 420 days late
2020
31-12
Financial
Weakest financial yearnet €1,314 ▼80.2%
Net result drops to €1,314, the lowest in the series.
2019
25-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 56 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MICHEL LANDUYT VAN ISEGHEMLAAN 149,
8400 OOSTENDE |
24-10-2022 → 15-01-2025 |