BOYRAZ
InactiveBOYRAZ was declared bankrupt on 02-01-2023 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed for insufficient assets by judgment of 15-04-2024, published in the Belgian State Gazette on 22-04-2024.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
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 · 3 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 05-10-2022, 66 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
66 d late
2019
78 d early
2018
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 6 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 2021, micro schema
Equity
€35,225▲ 159%
2019 · €13,597
Total assets
€56,034▲ 125%
2019 · €24,952
Net result
-€5,108
2019 · €5,945
Working capital
€8,105▲ 99.8%
2019 · €4,056
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
Line201820192021
Operating result€1,250-€8,497▲ 580%-€5,157-
Net result€252-€5,945▲ 2,259%-€5,108-
Equity€7,652-€13,597▲ 77.7%€35,225-
Total assets€15,327-€24,952▲ 62.8%€56,034-
Debt€7,675-€11,355▲ 47.9%€20,809-
Working capital-€2,372-€4,056€8,105-
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is -€5,157 in 2021, compared with €8,497 in 2019. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2021 in colour, 2019 as the grey bar beneath
Assets €55,769
Fixed assets
€26,855 ▲ 207%
Current assets
€28,914 ▲ 87.6%
Equity and liabilities €56,034
Equity
€35,225 ▲ 159%
Debt
€20,809 ▲ 83.3%
Debt's share of the balance-sheet total falls from 45.5% to 37.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1,223▼
2019 · €10,980
Cash flow
€1,272▼
2019 · €8,428
Current ratio
1.39▲
2019 · 1.36
Debt to equity
0.59
ROE
-14.5%▼
2019 · 43.7%
ROA
-9.1%▼
2019 · 23.8%
Interest coverage
34.94
Debt ≤ 1 year
€20,809▲
2019 · €11,355
Income taxes
€93▼
2019 · €2,504
Staff costs
€22,993
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2021 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €22,993 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,483 | €2,483 | €6,380 | - |
| Other operating charges640/8 | - | - | €3,043 | - |
| Gross operating margin9900 | €4,085 | €12,713 | €27,259 | - |
| Operating profit (loss)9901 | €1,250 | €8,497 | -€5,157 | - |
| Financial income75/76B | - | - | €177 | - |
| Recurring financial income75 | - | - | €177 | - |
| Financial charges65/66B | - | - | €35 | - |
| Recurring financial charges65 | €103 | €48 | €35 | - |
| Profit (loss) for the period before taxes9903 | €1,147 | €8,449 | -€5,015 | - |
| Income taxes67/77 | €895 | €2,504 | €93 | - |
| Profit (loss) for the period9904 | €252 | €5,945 | -€5,108 | - |
| Profit (loss) for the period to be appropriated9905 | €252 | €5,945 | -€5,108 | - |
| Line | 2018 | 2019 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €15,327 | €24,952 | €56,034 | - |
| Formation expenses20 | €1,060 | €795 | €265 | - |
| Fixed assets21/28 | €8,964 | €8,746 | €26,855 | - |
| Tangible fixed assets22/27 | €7,864 | €7,646 | €25,755 | - |
| Plant, machinery and equipment23 | - | - | €4,209 | - |
| Leasing and similar rights25 | - | - | €21,546 | - |
| Financial fixed assets28 | €1,100 | €1,100 | €1,100 | - |
| Current assets29/58 | €5,303 | €15,411 | €28,914 | - |
| Amounts receivable within one year40/41 | €2,593 | €3,892 | €12,547 | - |
| Trade receivables40 | - | - | €6,710 | - |
| Other amounts receivable41 | - | - | €5,837 | - |
| Cash at bank and in hand54/58 | €2,710 | €11,519 | €16,367 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €15,327 | €24,952 | €56,034 | - |
| Equity10/15 | €7,652 | €13,597 | €35,225 | - |
| Contributions10/11 | €7,400 | €7,400 | €18,900 | - |
| Outside capital11 | - | - | €18,900 | - |
| Other1109/19 | - | - | €18,900 | - |
| Reserves13 | €13 | €310 | €309 | - |
| Non-distributable reserves130/1 | - | - | €309 | - |
| Reserves not available under the articles1311 | - | - | €309 | - |
| Profit (loss) carried forward14 | €239 | €5,887 | €16,016 | - |
| Amounts payable17/49 | €7,675 | €11,355 | €20,809 | - |
| Amounts payable within one year42/48 | €7,675 | €11,355 | €20,809 | - |
| Current portion of amounts payable after more than one year42 | - | - | €10,782 | - |
| Trade debts44 | €5,466 | €8,840 | €8,147 | - |
| Suppliers440/4 | - | - | €8,147 | - |
| Taxes, remuneration and social security45 | - | - | €1,880 | - |
| Taxes450/3 | - | - | €463 | - |
| Remuneration and social security454/9 | - | - | €1,417 | - |
| Line | 2018 | 2019 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €252 | €5,945 | -€5,108 | - |
| + Depreciation and write-downs630 | €1,483 | €2,483 | €6,380 | - |
| Operating cash flow (approximation) | €1,735 | €8,428 | €1,272 | - |
| Investment in fixed assets (approximation) | - | -€2,265 | - | - |
| Change in cash | - | €8,809 | - | - |
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
22-04
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Dendermonde · event 15-04-2024
2023
10-01
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · event 02-01-2023
2022
05-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 66 days late
2021
31-12
Financial
Weakest financial yearnet -€5,108
Net result drops to -€5,108, the lowest in the series.
2020
14-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €5,945 ▲2,259%
Operating result €8,497, net result €5,945, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | DANI DE CLERCQ GUIDO GEZELLELAAN 17,
9100 SINT-NIKLAAS |
02-01-2023 → 15-04-2024 |
Public money · subsidies and aid
Flemish government
2022 · 2 entries · 2,601 EUR awarded · 2,601 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 2,601 EUR | 2,601 EUR |