CERDI
Open bankruptcyAre you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Kortrijk division
- Declared bankrupt
- 3 February 2026
- Supervising judge
- Jurgen Degeyter
- Official Gazette
- 09-02-2026 (pdf) ↗search the document for 2026/105682
Deadlines
- Provisional date payments stopped
- 3 August 2025Moved back by judgment of 15 September 2026. Payments and security you received since that day can in some cases be challenged by the curator.art. XX.105, XX.111 and XX.112 CEL
- Appeal or third-party opposition until
- passed on 24 February 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 5 March 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 24 March 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 3 February 2027Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Virginie BailleulPrinsessestraat 103, 8870 Izegemvirginie.bailleul@skynet.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 11-10-2024, 72 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 · 10 filingsDeviation from the deadline
2024
not filed
2023
72 d late
2022
56 d late
2021
121 d late
2020
90 d late
2019
96 d late
2018
27 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 68 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?Process a list How is the Machining of metals sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, abbreviated schema
Equity
€579,413▼ 35.2%
2022 · €893,502
Total assets
€972,751▼ 23.5%
2022 · €1.3m
Net result
-€314,088▼ 1,582%
2022 · -€18,672
Working capital
€520,442▼ 35.8%
2022 · €810,214
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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.Sector: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€642,339▲ 2,626%-€85,977€14,905-€4,202-€300,468▼ 7,051%
Net result€561,066▲ 5,733%-€96,431below the sector's middle half€3,212below the sector's middle half-€18,672below the sector's middle half-€314,088below the sector's middle half▼ 1,582%
Equity€1.0m▲ 126%€908,962within the sector's middle half▼ 9.6%€912,174within the sector's middle half▲ 0.4%€893,502within the sector's middle half▼ 2.0%€579,413within the sector's middle half▼ 35.2%
Total assets€1.8m▲ 57.8%€1.5mwithin the sector's middle half▼ 17.3%€1.5mwithin the sector's middle half▼ 0.5%€1.3mwithin the sector's middle half▼ 16.1%€972,751within the sector's middle half▼ 23.5%
Debt€834,010▲ 15.6%€613,060▼ 26.5%€602,745▼ 1.7%€377,286▼ 37.4%€393,337▲ 4.3%
Working capital€653,244▲ 81.9%€723,899above the sector's middle half▲ 10.8%€744,383within the sector's middle half▲ 2.8%€810,214within the sector's middle half▲ 8.8%€520,442within the sector's middle half▼ 35.8%
Solvency54.7%▲ 16.5pp59.7%within the sector's middle half▲ 5.1pp60.2%within the sector's middle half▲ 0.5pp70.3%above the sector's middle half▲ 10.1pp59.6%within the sector's middle half▼ 10.7pp
Current ratio1.81▲ 0.312.25within the sector's middle half▲ 0.452.39within the sector's middle half▲ 0.143.17above the sector's middle half▲ 0.782.40within the sector's middle half▼ 0.76
Return on assets (ROA)30.5%▲ 29.7pp-6.3%below the sector's middle half▼ 36.8pp0.2%below the sector's middle half▲ 6.5pp-1.5%below the sector's middle half▼ 1.7pp-32.3%below the sector's middle half▼ 30.8pp
Staff (FTE)5.9▼ 21.3%6.9within the sector's middle half▲ 16.9%6.6within the sector's middle half▼ 4.3%6.7within the sector's middle half▲ 1.5%6.4within the sector's middle half▼ 4.5%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €300,468 in 2023 against €4,202 in 2022; the loss grows and 2023 has the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €972,751
Fixed assets
€81,609 ▼ 6.1%
Current assets
€891,142 ▼ 24.7%
Equity and liabilities €972,751
Equity
€579,413 ▼ 35.2%
Debt
€393,337 ▲ 4.3%
Debt's share of the balance-sheet total rises from 29.7% to 40.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€261,882▼
2022 · €28,479
Cash flow
-€275,503▼
2022 · €14,009
Quick ratio
1.73▼
2022 · 2.45
Debt to equity
0.68▲
2022 · 0.42
ROE
-54.2%▼
2022 · -2.1%
Interest coverage
-19.34▼
2022 · 1.94
Debt ≤ 1 year
€370,700▼
2022 · €373,687
Debt > 1 year
€6,399▲
2022 · €3,599
Income taxes
€135▲
2022 · €124
Staff costs
€290,239▲
2022 · €275,433
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,000 | - | €2,860 | - |
| Remuneration, social security and pensions62 | - | - | €295,005 | €275,433 | €290,239 | ▲ 5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,972 | €26,061 | €28,162 | €32,681 | €38,585 | ▲ 18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €90,238 | - |
| Other operating charges640/8 | - | - | €4,429 | €3,887 | €10,709 | ▲ 176% |
| Non-recurring operating charges66A | - | - | - | - | €211,500 | - |
| Gross operating margin9900 | €939,284 | €241,776 | €342,501 | €307,798 | €340,804 | ▲ 10.7% |
| Operating profit (loss)9901 | €642,339 | -€85,977 | €14,905 | -€4,202 | -€300,468 | ▼ 7,051% |
| Financial income75/76B | - | - | €320 | €317 | €55 | ▼ 82.6% |
| Recurring financial income75 | €504 | €1,653 | €320 | €317 | €55 | ▼ 82.6% |
| Financial charges65/66B | - | - | €11,896 | €14,664 | €13,541 | ▼ 7.7% |
| Recurring financial charges65 | €50,506 | €11,991 | €11,896 | €14,664 | €13,541 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €592,338 | -€96,315 | €3,329 | -€18,549 | -€313,953 | ▼ 1,593% |
| Income taxes67/77 | €31,272 | €116 | €116 | €124 | €135 | ▲ 9.0% |
| Profit (loss) for the period9904 | €561,066 | -€96,431 | €3,212 | -€18,672 | -€314,088 | ▼ 1,582% |
| Profit (loss) for the period to be appropriated9905 | €561,066 | -€96,431 | €3,212 | -€18,672 | -€314,088 | ▼ 1,582% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €1.5m | €1.5m | €1.3m | €972,751 | ▼ 23.5% |
| Fixed assets21/28 | €377,149 | €221,154 | €236,190 | €86,886 | €81,609 | ▼ 6.1% |
| Intangible fixed assets21 | - | - | €25,838 | €50,129 | €60,816 | ▲ 21.3% |
| Tangible fixed assets22/27 | €65,149 | €71,161 | €60,360 | €36,758 | €20,792 | ▼ 43.4% |
| Plant, machinery and equipment23 | - | - | €46,742 | €28,211 | €9,680 | ▼ 65.7% |
| Furniture and vehicles24 | - | - | €13,618 | €8,546 | €11,112 | ▲ 30.0% |
| Financial fixed assets28 | €312,000 | €149,993 | €149,993 | - | - | - |
| Current assets29/58 | €1.5m | €1.3m | €1.3m | €1.2m | €891,142 | ▼ 24.7% |
| Stocks and contracts in progress3 | €181,103 | €221,402 | €250,775 | €268,529 | €249,629 | ▼ 7.0% |
| Stocks30/36 | - | - | €250,775 | €268,529 | €249,629 | ▼ 7.0% |
| Amounts receivable within one year40/41 | €995,670 | €709,741 | €851,364 | €792,785 | €492,474 | ▼ 37.9% |
| Trade receivables40 | - | - | €812,149 | €753,570 | €482,839 | ▼ 35.9% |
| Other amounts receivable41 | - | - | €39,215 | €39,215 | €9,635 | ▼ 75.4% |
| Cash at bank and in hand54/58 | €280,145 | €365,171 | €166,197 | €113,887 | €140,221 | ▲ 23.1% |
| Deferred charges and accrued income490/1 | - | - | €10,392 | €8,700 | €8,818 | ▲ 1.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €1.5m | €1.5m | €1.3m | €972,751 | ▼ 23.5% |
| Equity10/15 | €1.0m | €908,962 | €912,174 | €893,502 | €579,413 | ▼ 35.2% |
| Contributions10/11 | €18,592 | - | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €986,801 | €890,370 | €893,582 | €874,910 | €560,821 | ▼ 35.9% |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | - | €13,882 | €13,882 | €13,882 | = |
| Distributable reserves133 | - | - | €877,841 | €859,168 | €545,080 | ▼ 36.6% |
| Profit (loss) carried forward14 | €265 | €994 | - | - | - | - |
| Amounts payable17/49 | €834,010 | €613,060 | €602,745 | €377,286 | €393,337 | ▲ 4.3% |
| Amounts payable after more than one year17 | - | - | €6,101 | €3,599 | €6,399 | ▲ 77.8% |
| Financial debts170/4 | - | - | €6,101 | €3,599 | €6,399 | ▲ 77.8% |
| Amounts payable within one year42/48 | €809,010 | €576,968 | €534,346 | €373,687 | €370,700 | ▼ 0.8% |
| Current portion of amounts payable after more than one year42 | - | - | €2,471 | €2,502 | €3,976 | ▲ 58.9% |
| Financial debts43 | - | - | €47,753 | - | €38,944 | - |
| Credit institutions430/8 | - | - | €47,753 | - | €38,944 | - |
| Trade debts44 | €548,753 | €349,879 | €351,313 | €253,391 | €248,846 | ▼ 1.8% |
| Suppliers440/4 | - | - | €351,313 | €253,391 | €248,846 | ▼ 1.8% |
| Taxes, remuneration and social security45 | - | - | €68,325 | €54,823 | €54,764 | ▼ 0.1% |
| Taxes450/3 | - | - | €25,971 | €14,316 | €10,493 | ▼ 26.7% |
| Remuneration and social security454/9 | - | - | €42,354 | €40,506 | €44,271 | ▲ 9.3% |
| Other amounts payable47/48 | - | - | €64,483 | €62,970 | €24,170 | ▼ 61.6% |
| Accrued charges and deferred income492/3 | - | - | €62,298 | - | €16,238 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €561,066 | -€96,431 | €3,212 | -€18,672 | -€314,088 | ▼ 1,582% |
| + Depreciation and write-downs630 | €24,972 | €26,061 | €28,162 | €32,681 | €38,585 | ▲ 18.1% |
| Operating cash flow (approximation) | €586,038 | -€70,370 | €31,374 | €14,009 | -€275,503 | ▼ 2,067% |
| Investment in fixed assets (approximation) | - | €129,934 | -€43,198 | €116,623 | -€33,308 | ▼ 129% |
| Change in cash | - | €85,026 | -€198,974 | -€52,310 | €26,335 | ▲ 150% |
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
21-09
Bankruptcy
Date of cessation of payments moved back
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 15-09-2026
09-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 03-02-2026
2024
11-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 72 days late
2023
31-12
Financial
Weakest financial yearnet -€314,088
Net result drops to -€314,088, the lowest in the series.
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 56 days late
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 121 days late
2021
31-12
Financial
Back to profitnet €3,212
Net result €3,212 after one loss-making year.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 90 days late
2020
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 96 days late
2019
31-12
Financial
Highest result since 2018net €561,066 ▲5,733%
Operating result €642,339, net result €561,066, both a record.
31-12
Financial
Equity above €1mEq €1.0m ▲126%
2 profitable years in a row build equity to €1.0m.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 49 days late
2016
08-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
15-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
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
Registered office, Izegem · 1 establishment unit since 1985
Ground area
8,131 m²
Building footprint
4,105 m²
Volume, LiDAR
26,946 m³
Parcel 36492A0553/00Y002, Flanders · tallest building 12.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Baronstraat 118, 8870 Izegem
since 19852.026.295.257
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36492A0553/00Y002 | Flanders | 8,131 m² | 1 · 4,105 m² | 12.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | VIRGINIE BAILLEUL Prinsessestraat 103, 8870 Izegem |
03-02-2026 → present |
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 16,825 EUR awarded · 16,825 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 6,113 EUR | 6,113 EUR |
| 2024 | 2 | 2,775 EUR | 2,775 EUR |
| 2023 | 1 | 1,819 EUR | 1,819 EUR |
| 2022 | 2 | 6,118 EUR | 6,118 EUR |
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Of 3,460 companies in this sector we hold annual accounts for 1,656. 1,259 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded11-01-1985
Fiscal year end31-12
Activities, NACEBEL 2025
25530Machining of metals
29310Manufacture of motor vehicles, trailers and semi-trailers
46649Wholesale of other machinery and equipment
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.