BRZ
InactiveBRZ was declared bankrupt on 29-08-2024 (Tribunal de l’entreprise de Liège, division Liège); the bankruptcy was closed by liquidation by judgment of 04-11-2025, published in the Belgian State Gazette on 10-11-2025.
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 · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 27-07-2022, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
4 d early
2020
9 d late
2019
10 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 5 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
Turnover
€0
Total assets
€3,787▼ 83.4%
2020 · €22,757
Net result
€1,957
2020 · -€31,011
Working capital
-€59,887▲ 10.5%
2020 · -€66,935
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
Line2018201920202021
Turnover€0
Operating result€9,916--€31,790-€30,717▲ 3.4%€2,596
Net result€5,149--€32,779-€31,011▲ 5.4%€1,957
Equity€2,668--€30,111-€61,122▼ 103%-€59,165▲ 3.2%
Total assets€37,283-€23,131▼ 38.0%€22,757▼ 1.6%€3,787▼ 83.4%
Debt€34,615-€53,242▲ 53.8%€83,879▲ 57.5%€62,952▼ 24.9%
Working capital-€20,896--€35,111▼ 68.0%-€66,935▼ 90.6%-€59,887▲ 10.5%
Staff (FTE)1.2-0.6▼ 50.0%2.5▲ 317%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2021: €2,596 after a loss of €30,717 in 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €3,787
Fixed assets
€722 ▼ 87.6%
Current assets
€3,065 ▼ 81.9%
Key figures and ratios
EBITDA
€2,686▲
2020 · -€30,626
Cash flow
€2,048▲
2020 · -€30,920
Interest coverage
4.21
Debt ≤ 1 year
€62,952▼
2020 · €83,879
Staff costs
-€237
Ratios withheld: a balance sheet total of €3,787 is too small for a meaningful ratio.
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 |
|---|---|---|---|---|---|
| Turnover70 | - | - | - | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0 | - |
| Remuneration, social security and pensions62 | - | - | - | -€237 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,462 | - | €90 | €90 | = |
| Other operating charges640/8 | - | - | - | €530 | - |
| Gross operating margin9900 | €46,584 | €20,941 | -€7,325 | €2,979 | ▲ 141% |
| Operating profit (loss)9901 | €9,916 | -€31,790 | -€30,717 | €2,596 | ▲ 108% |
| Recurring financial income75 | €1 | €29 | €1 | - | - |
| Financial charges65/66B | - | - | - | €638 | - |
| Recurring financial charges65 | €4,099 | €1,015 | €295 | €638 | ▲ 117% |
| Profit (loss) for the period before taxes9903 | €5,818 | -€32,775 | -€31,011 | €1,957 | ▲ 106% |
| Income taxes67/77 | €669 | €4 | - | - | - |
| Profit (loss) for the period9904 | €5,149 | -€32,779 | -€31,011 | €1,957 | ▲ 106% |
| Profit (loss) for the period to be appropriated9905 | €5,149 | -€32,779 | -€31,011 | €1,957 | ▲ 106% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €37,283 | €23,131 | €22,757 | €3,787 | ▼ 83.4% |
| Fixed assets21/28 | €23,564 | €5,000 | €5,813 | €722 | ▼ 87.6% |
| Intangible fixed assets21 | €23,564 | €0 | - | - | - |
| Tangible fixed assets22/27 | - | - | €813 | €722 | ▼ 11.1% |
| Other tangible fixed assets26 | - | - | - | €722 | - |
| Financial fixed assets28 | - | €5,000 | €5,000 | €0 | ▼ 100% |
| Current assets29/58 | €13,718 | €18,131 | €16,944 | €3,065 | ▼ 81.9% |
| Stocks and contracts in progress3 | €7,115 | €5,560 | €2,451 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €0 | - |
| Amounts receivable within one year40/41 | €3,867 | €8,554 | €12,981 | €2,600 | ▼ 80.0% |
| Trade receivables40 | - | - | - | €2,334 | - |
| Other amounts receivable41 | - | - | - | €266 | - |
| Cash at bank and in hand54/58 | €2,005 | €3,278 | €1,312 | €371 | ▼ 71.7% |
| Deferred charges and accrued income490/1 | - | - | - | €94 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €37,283 | €23,131 | €22,757 | €3,787 | ▼ 83.4% |
| Equity10/15 | €2,668 | -€30,111 | -€61,122 | -€59,165 | ▲ 3.2% |
| Contributions10/11 | €6,200 | €0 | - | €6,200 | - |
| Reserves13 | - | €6,200 | - | - | - |
| Profit (loss) carried forward14 | -€3,532 | -€36,311 | -€67,322 | -€65,365 | ▲ 2.9% |
| Amounts payable17/49 | €34,615 | €53,242 | €83,879 | €62,952 | ▼ 24.9% |
| Amounts payable after more than one year17 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €34,615 | €53,242 | €83,879 | €62,952 | ▼ 24.9% |
| Trade debts44 | €9,425 | €3,945 | €4,736 | €7,740 | ▲ 63.4% |
| Suppliers440/4 | - | - | - | €7,740 | - |
| Taxes, remuneration and social security45 | - | - | - | €6,135 | - |
| Taxes450/3 | - | - | - | €0 | - |
| Remuneration and social security454/9 | - | - | - | €6,135 | - |
| Other amounts payable47/48 | - | - | - | €49,077 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,149 | -€32,779 | -€31,011 | €1,957 | ▲ 106% |
| + Depreciation and write-downs630 | €3,462 | - | €90 | €90 | = |
| Operating cash flow (approximation) | €8,611 | -€32,779 | -€30,920 | €2,048 | ▲ 107% |
| Investment in fixed assets (approximation) | - | €18,564 | -€903 | €5,000 | ▲ 654% |
| Change in cash | - | €1,273 | -€1,965 | -€941 | ▲ 52.1% |
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
10-11
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise de Liège, division Liège · event 04-11-2025
2024
05-09
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 29-08-2024
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €1,957
Net result €1,957 after 2 loss-making years.
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
2020
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 10 days late
2019
31-12
Financial
Weakest financial yearnet -€32,779
Net result drops to -€32,779, the lowest in the series.
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 46 days late
2015
21-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 21 days late
2013
09-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 9 days late
2012
20-08
NBB filing
Annual accounts filed
fiscal year 2011 · full schema · 20 days late
2011
11-08
NBB filing
Annual accounts filed
fiscal year 2010 · full schema · 11 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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 | ROMAIN OGER RUE DES DéPORTéS 82,
4800 VERVIERS |
29-08-2024 → 04-11-2025 |