CATHORECA
InactiveCATHORECA was declared bankrupt on 14-02-2023 (Tribunal de l’entreprise du Hainaut, division Tournai); the bankruptcy was closed by liquidation by judgment of 03-02-2026, published in the Belgian State Gazette on 09-02-2026.
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 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 · 4 filingsPosition against the passed deadline
30-09-2022 close30-04-2023 deadline26-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 30-09-2021 was due by 30-04-2022 and was filed on 14-11-2022, 198 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 · 4 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
198 d late
2020
61 d late
2019
18 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 92 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
€20,281
2020 · -€53,668
Total assets
€142,335▲ 186%
2020 · €49,806
Net result
€73,950
2020 · -€2,381
Working capital
-€34,945▲ 55.3%
2020 · -€78,116
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
Operating result-€351--€26,907▼ 7,561%€1,530€77,661▲ 4,977%
Net result-€2,693--€32,859▼ 1,120%-€2,381▲ 92.8%€73,950
Equity-€18,428--€51,287▼ 178%-€53,668▼ 4.6%€20,281
Total assets€52,576-€23,413▼ 55.5%€49,806▲ 113%€142,335▲ 186%
Debt€71,005-€74,701▲ 5.2%€103,475▲ 38.5%€122,054▲ 18.0%
Working capital-€24,998--€56,333▼ 125%-€78,116▼ 38.7%-€34,945▲ 55.3%
Staff (FTE)0.6-1▲ 66.7%1.6▲ 60.0%4.4▲ 175%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2019 the operating result has climbed two years in a row; 2021 is 4,977% above 2020 and is the highest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €142,335
Fixed assets
€55,226 ▲ 126%
Current assets
€87,109 ▲ 244%
Equity and liabilities €142,335
Equity
€20,281
Debt
€122,054
Debt finances 85.8% of the balance-sheet total.
Key figures and ratios
EBITDA
€81,217▲
2020 · €2,947
Cash flow
€77,505▲
2020 · -€964
Current ratio
0.71▲
2020 · 0.25
Quick ratio
0.63▲
2020 · 0.15
Debt to equity
6.02
ROE
364.6%
ROA
52.0%▲
2020 · -4.8%
Interest coverage
91.34
Debt ≤ 1 year
€122,054▲
2020 · €103,475
Income taxes
€2,823
Staff costs
€12,727
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 |
|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €156,908 | - |
| Remuneration, social security and pensions62 | - | - | - | €12,727 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,897 | €1,523 | €1,417 | €3,556 | ▲ 151% |
| Other operating charges640/8 | - | - | - | €1,622 | - |
| Gross operating margin9900 | €24,860 | -€14,245 | €13,398 | €95,566 | ▲ 613% |
| Operating profit (loss)9901 | -€351 | -€26,907 | €1,530 | €77,661 | ▲ 4,977% |
| Recurring financial income75 | €154 | €60 | €100 | - | - |
| Financial charges65/66B | - | - | - | €889 | - |
| Recurring financial charges65 | €2,496 | €6,012 | €4,011 | €889 | ▼ 77.8% |
| Profit (loss) for the period before taxes9903 | -€2,693 | -€32,859 | -€2,381 | €76,772 | ▲ 3,324% |
| Income taxes67/77 | - | - | - | €2,823 | - |
| Profit (loss) for the period9904 | -€2,693 | -€32,859 | -€2,381 | €73,950 | ▲ 3,206% |
| Profit (loss) for the period to be appropriated9905 | -€2,693 | -€32,859 | -€2,381 | €73,950 | ▲ 3,206% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €52,576 | €23,413 | €49,806 | €142,335 | ▲ 186% |
| Fixed assets21/28 | €6,569 | €5,046 | €24,448 | €55,226 | ▲ 126% |
| Tangible fixed assets22/27 | €6,419 | €4,896 | €24,298 | €55,076 | ▲ 127% |
| Plant, machinery and equipment23 | - | - | - | €37,110 | - |
| Furniture and vehicles24 | - | - | - | €17,967 | - |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €46,007 | €18,367 | €25,358 | €87,109 | ▲ 244% |
| Stocks and contracts in progress3 | €30,441 | €15,150 | €10,200 | €10,200 | = |
| Stocks30/36 | - | - | - | €10,200 | - |
| Amounts receivable within one year40/41 | €15,174 | €93 | €8,537 | €29,242 | ▲ 243% |
| Trade receivables40 | - | - | - | €11,153 | - |
| Other amounts receivable41 | - | - | - | €18,089 | - |
| Cash at bank and in hand54/58 | €392 | €3,124 | €6,622 | €47,667 | ▲ 620% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €52,576 | €23,413 | €49,806 | €142,335 | ▲ 186% |
| Equity10/15 | -€18,428 | -€51,287 | -€53,668 | €20,281 | ▲ 138% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - |
| Issued capital100 | - | - | - | €18,600 | - |
| Profit (loss) carried forward14 | -€37,028 | -€69,887 | -€72,268 | €1,681 | ▲ 102% |
| Amounts payable17/49 | €71,005 | €74,701 | €103,475 | €122,054 | ▲ 18.0% |
| Amounts payable within one year42/48 | €71,005 | €74,701 | €103,475 | €122,054 | ▲ 18.0% |
| Trade debts44 | €30,050 | €20,288 | €4,329 | €4,518 | ▲ 4.4% |
| Suppliers440/4 | - | - | - | €4,518 | - |
| Taxes, remuneration and social security45 | - | - | - | €9,003 | - |
| Taxes450/3 | - | - | - | €4,307 | - |
| Remuneration and social security454/9 | - | - | - | €4,696 | - |
| Other amounts payable47/48 | - | - | - | €108,533 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,693 | -€32,859 | -€2,381 | €73,950 | ▲ 3,206% |
| + Depreciation and write-downs630 | €9,897 | €1,523 | €1,417 | €3,556 | ▲ 151% |
| Operating cash flow (approximation) | €7,205 | -€31,336 | -€964 | €77,505 | ▲ 8,144% |
| Investment in fixed assets (approximation) | - | €0 | -€20,819 | -€34,334 | ▼ 64.9% |
| Change in cash | - | €2,732 | €3,497 | €41,046 | ▲ 1,074% |
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
2026
09-02
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise du Hainaut, division Tournai · event 03-02-2026
2023
28-02
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Tournai · event 14-02-2023
2022
14-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 198 days late
2021
30-09
Financial
Back to profitnet €73,950
Net result €73,950 after 3 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
30-09
Financial
Weakest financial yearnet -€32,859
Net result drops to -€32,859, the lowest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 62 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 | XAVIER LECLERCQ RUE DE TOURCOING 98,
7700 MOUSCRON- .
Date provisoire de cessation de paiement : 14/02/2023 |
14-02-2023 → 03-02-2026 |