CASHNET
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 31-03-2022, 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
31-03-2022 close31-10-2022 deadline01-10-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2021 was due by 31-10-2021 and was filed on 20-09-2021, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2021
41 d early
2020
26 d late
2019
36 d early
2018
37 d early
2017
42 d early
2016
48 d early
2015
36 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 31 days before 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
-€60,077▼ 32.9%
2020 · -€45,209
Total assets
€53,269▼ 31.3%
2020 · €77,589
Net result
-€14,868▼ 49.2%
2020 · -€9,965
Working capital
-€84,850▼ 14.5%
2020 · -€74,119
Trend over the years
In euros
In euros
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
Line201920202021
Operating result-€1,608--€8,076▼ 402%-€13,319▼ 64.9%
Net result-€4,107--€9,965▼ 143%-€14,868▼ 49.2%
Equity-€35,244--€45,209▼ 28.3%-€60,077▼ 32.9%
Total assets€124,710-€77,589▼ 37.8%€53,269▼ 31.3%
Debt€159,954-€122,798▼ 23.2%€113,346▼ 7.7%
Working capital-€68,291--€74,119▼ 8.5%-€84,850▼ 14.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €13,319 in 2021 against €8,076 in 2020; the loss grows and 2021 has the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €53,269
Fixed assets
€24,773 ▼ 14.3%
Current assets
€28,496 ▼ 41.5%
Equity and liabilities
Equity-€60,077
Debt€113,346
Equity is negative: debt (€113,346) exceeds the balance-sheet total (€53,269).
Key figures and ratios
EBITDA
-€9,182▼
2020 · -€3,939
Cash flow
-€10,731▼
2020 · -€5,828
Solvency
-112.8%▼
2020 · -58.3%
Current ratio
0.25▼
2020 · 0.40
Quick ratio
0.09▼
2020 · 0.13
ROA
-27.9%▼
2020 · -12.8%
Debt ≤ 1 year
€113,346▼
2020 · €122,798
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,542 | €4,137 | €4,137 | = |
| Gross operating margin9900 | €32,579 | €25,026 | €8,360 | ▼ 66.6% |
| Operating profit (loss)9901 | -€1,608 | -€8,076 | -€13,319 | ▼ 64.9% |
| Recurring financial income75 | €71 | €171 | €184 | ▲ 7.6% |
| Recurring financial charges65 | €2,570 | €2,060 | €1,733 | ▼ 15.9% |
| Profit (loss) for the period before taxes9903 | -€4,107 | -€9,965 | -€14,868 | ▼ 49.2% |
| Profit (loss) for the period9904 | -€4,107 | -€9,965 | -€14,868 | ▼ 49.2% |
| Profit (loss) for the period to be appropriated9905 | -€4,107 | -€9,965 | -€14,868 | ▼ 49.2% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €124,710 | €77,589 | €53,269 | ▼ 31.3% |
| Fixed assets21/28 | €33,047 | €28,910 | €24,773 | ▼ 14.3% |
| Intangible fixed assets21 | €28,501 | €25,501 | €22,501 | ▼ 11.8% |
| Tangible fixed assets22/27 | €4,546 | €3,409 | €2,272 | ▼ 33.4% |
| Current assets29/58 | €91,663 | €48,679 | €28,496 | ▼ 41.5% |
| Stocks and contracts in progress3 | €55,233 | €32,792 | €18,414 | ▼ 43.8% |
| Amounts receivable within one year40/41 | €18,172 | €7,847 | €6,632 | ▼ 15.5% |
| Cash at bank and in hand54/58 | €17,982 | €8,040 | €3,151 | ▼ 60.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €124,710 | €77,589 | €53,269 | ▼ 31.3% |
| Equity10/15 | -€35,244 | -€45,209 | -€60,077 | ▼ 32.9% |
| Contributions10/11 | €18,618 | €18,618 | - | - |
| Profit (loss) carried forward14 | -€53,862 | -€63,827 | -€78,695 | ▼ 23.3% |
| Amounts payable17/49 | €159,954 | €122,798 | €113,346 | ▼ 7.7% |
| Amounts payable within one year42/48 | €159,954 | €122,798 | €113,346 | ▼ 7.7% |
| Trade debts44 | €75,561 | €55,537 | €53,568 | ▼ 3.5% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,107 | -€9,965 | -€14,868 | ▼ 49.2% |
| + Depreciation and write-downs630 | €4,542 | €4,137 | €4,137 | = |
| Operating cash flow (approximation) | €435 | -€5,828 | -€10,731 | ▼ 84.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€9,942 | -€4,889 | ▲ 50.8% |
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
2022
05-08
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise de Liège, division Liège · event 17-05-2022
2021
26-10
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 11-10-2021
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Weakest financial yearnet -€14,868
Net result drops to -€14,868, the lowest in the series.
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2019
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
13-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2015
25-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2014
26-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2013
17-10
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
2012
04-12
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 34 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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 7 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ANDRE TIHON Rue Hors-Chateau 22, 4000 Liege 1 |
11-10-2021 → 17-05-2022 |