Chains & Wheels
Open bankruptcyOverview
Information for creditors
Open bankruptcy
Source: Belgian Official Gazette
Declared bankrupt on 14 October 2025 · trustee Matthias Gesquiere · a claim can no longer be filed
Creditor guide for this companyThe procedure
- Court
- Enterprise Court of Ghent, Ghent division
- Supervising judge
- Firmin Bulte
- Official Gazette
- 20-10-2025search the document for 2025/142419
Deadlines
- Provisional date payments stopped
- 9 October 2025The trustee can in some cases challenge payments and security you received since that day. A later judgment can still change the date.art. XX.105, XX.111 and XX.112, Code of Economic Law
- Appeal or third-party opposition until
- passed on 4 November 2025That is fifteen days after the publication in the Official Gazette.art. XX.108, Code of Economic Law
- File the claim in RegSol, the Belgian insolvency register, until
- passed on 13 November 2025art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 18 November 2025Reclaim goods that are still yours, such as goods delivered under retention of title, before this day.art. XX.104 and XX.194, Code of Economic Law
- Late claim until
- passed on 14 October 2026A late claim shares only in what has not yet been paid out. You bear the costs of that claim.art. XX.165, Code of Economic Law
Trustee
- Matthias GesquiereMaaltemeers 84, 9051 1 Gent (Sint-Denijs-Westrem)m.gesquiere@portelio.be
Steps for a creditor
- The deadlines to file your claim have passed, including for a late claim. That was possible until a year after the judgment.
- Ask the trustee whether anything will still be paid out and whether your claim was admitted.
- Follow the file in RegSol. The trustee's reports appear there.
- Ask your accountant about the VAT on the unpaid invoices. In a bankruptcy it can be recovered, subject to conditions.
A late claim was possible until a year after the judgment (art. XX.165, Code of Economic Law). That deadline has passed too.
The judgment is more than a year old. A claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.
Follow
Follow this bankruptcy and you are notified the next morning if it is closed or reversed.
This is general information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.
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Overview
Official details
Source: KBO- Status
- Open bankruptcy registered since 06-09-2022
- Activity
- Retail sale of bicycles NACE 47632and 4 others
- Joint committee
- 149 Paritair Comité voor de sectors die aan de metaal-, machine- en elektrische bouw verwant zijn · annual accounts 2024
- Establishment unit
- 2.335.673.490 9930 Lievegem, since 06-09-2022
- Financial year end
- 31 December
- Peppol
- Left the register on 22-10-2026
Financial position
No score
Annual accounts 2024
- Gross margin
- -€31,327
- Loss
- €63,198
- Equity
- -€23,755
- Total assets
- €196,635
- ▲ 5.2%
- Employees on 31-12-2024
- 1
Turnover not published (abbreviated format)
Filed on 31-07-2025
Financials
Financials · financial year 2024, abbreviated format
Annual accounts 2024 filed on 31-07-2025 PDF all 2 filings
Equity
-€23,755
2023 · €39,443
Total assets
€196,635▲ 5.2%
2023 · €186,905
Net result
-€63,198
2023 · €38,443
Working capital
-€16,487
2023 · €57,638
Trend over the years
2023 to 2024, 2 financial years
The operating result for 2024 is a loss of €52,399, after a profit of €61,393 in 2023.
Operating result-€52,399
2024
Net result-€63,198
2024
Total assets€196,635
2024
Equity-€23,755
2024
Debt€220,390
2024
Working capital-€16,487
2024
Return on assets (ROA)-32.1%
2024
Solvency-12.1%
2024
Current ratio0.91
2024
Staff (FTE)0.4
2024
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20232024
Operating result€61,393--€52,399
Net result€38,443within the sector's middle half--€63,198below the sector's middle half
Equity€39,443below the sector's middle half--€23,755below the sector's middle half
Total assets€186,905below the sector's middle half-€196,635below the sector's middle half▲ 5.2%
Debt€147,463-€220,390▲ 49.5%
Working capital€57,638within the sector's middle half--€16,487below the sector's middle half
Solvency21.1%within the sector's middle half--12.1%below the sector's middle half▼ 33.2pp
Current ratio1.52within the sector's middle half-0.91below the sector's middle half▼ 0.60
Return on assets (ROA)20.6%above the sector's middle half--32.1%below the sector's middle half▼ 52.7pp
Staff (FTE)0below the sector's middle half-0.4below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €196,635
Fixed assets
€19,163 ▲ 4.3%
Current assets
€177,472 ▲ 5.3%
Equity and liabilities
Equity-€23,755
Debt€220,390
Equity is negative. Debt (€220,390) exceeds the balance-sheet total (€196,635).
Key figures and ratios
EBITDA
-€46,754▼
2023 · €65,924
Cash flow
-€57,552▼
2023 · €42,973
Quick ratio
0.33▲
2023 · 0.29
Interest coverage
-4.26▼
2023 · 7.78
Debt ≤ 1 year
€193,959▲
2023 · €110,887
Debt > 1 year
€26,431▼
2023 · €36,059
Income taxes
€42▼
2023 · €14,844
Staff costs
€14,500
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 0 |
| part-time | 1 |
| in full-time equivalents | 0.5 |
| Average over the year, in full-time equivalents | 0.4 |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2024 annual accounts
Securities and guarantees
| Item | 2023 | 2024 |
|---|---|---|
| Debts secured on the company's own assets | €58,470 | €52,298 |
| Mortgages, amount registered | - | €80,000 |
| Carrying value of the mortgaged assets | - | €24,000 |
Source: notes to the 2023 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2023 | 2024 |
|---|---|---|
| Tangible fixed assets | €22,911 | €6,428 |
| Depreciation and write-downs of the year | €4,531 | €5,646 |
Source: notes to the 2023 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | - | €14,500 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,531 | €5,646 | ▲ 24.6% |
| Other operating charges640/8 | €1,362 | €927 | ▼ 32.0% |
| Gross operating margin9900 | €67,286 | -€31,327 | - |
| Operating profit (loss)9901 | €61,393 | -€52,399 | - |
| Financial income75/76B | €362 | €206 | ▼ 43.0% |
| Recurring financial income75 | €362 | €206 | ▼ 43.0% |
| Financial charges65/66B | €8,468 | €10,963 | ▲ 29.5% |
| Recurring financial charges65 | €8,468 | €10,963 | ▲ 29.5% |
| Profit (loss) for the period before taxes9903 | €53,287 | -€63,156 | - |
| Income taxes67/77 | €14,844 | €42 | ▼ 99.7% |
| Profit (loss) for the period9904 | €38,443 | -€63,198 | - |
| Profit (loss) for the period to be appropriated9905 | €38,443 | -€63,198 | - |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €186,905 | €196,635 | ▲ 5.2% |
| Fixed assets21/28 | €18,380 | €19,163 | ▲ 4.3% |
| Tangible fixed assets22/27 | €18,380 | €19,163 | ▲ 4.3% |
| Plant, machinery and equipment23 | €6,776 | €6,029 | ▼ 11.0% |
| Furniture and vehicles24 | €2,193 | €787 | ▼ 64.1% |
| Other tangible fixed assets26 | €9,411 | €12,347 | ▲ 31.2% |
| Current assets29/58 | €168,525 | €177,472 | ▲ 5.3% |
| Stocks and contracts in progress3 | €135,970 | €113,142 | ▼ 16.8% |
| Stocks30/36 | €135,970 | €113,142 | ▼ 16.8% |
| Amounts receivable within one year40/41 | €20,484 | €50,135 | ▲ 145% |
| Trade receivables40 | €18,102 | €40,476 | ▲ 124% |
| Other amounts receivable41 | €2,383 | €9,659 | ▲ 305% |
| Cash at bank and in hand54/58 | €11,524 | €12,923 | ▲ 12.1% |
| Deferred charges and accrued income490/1 | €547 | €1,272 | ▲ 133% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €186,905 | €196,635 | ▲ 5.2% |
| Equity10/15 | €39,443 | -€23,755 | - |
| Contributions10/11 | €1,000 | €1,000 | = |
| Reserves13 | €38,443 | €38,443 | = |
| Distributable reserves133 | €38,443 | €38,443 | = |
| Profit (loss) carried forward14 | - | -€63,198 | - |
| Amounts payable17/49 | €147,463 | €220,390 | ▲ 49.5% |
| Amounts payable after more than one year17 | €36,059 | €26,431 | ▼ 26.7% |
| Financial debts170/4 | €36,059 | €26,431 | ▼ 26.7% |
| Amounts payable within one year42/48 | €110,887 | €193,959 | ▲ 74.9% |
| Current portion of amounts payable after more than one year42 | €22,412 | €25,866 | ▲ 15.4% |
| Financial debts43 | €28,000 | €123,000 | ▲ 339% |
| Credit institutions430/8 | €28,000 | €123,000 | ▲ 339% |
| Trade debts44 | €45,631 | €27,897 | ▼ 38.9% |
| Suppliers440/4 | €45,631 | €27,897 | ▼ 38.9% |
| Taxes, remuneration and social security45 | €14,844 | €17,196 | ▲ 15.8% |
| Taxes450/3 | €14,844 | €14,886 | ▲ 0.3% |
| Remuneration and social security454/9 | - | €2,310 | - |
| Accrued charges and deferred income492/3 | €517 | €0 | ▼ 100% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €38,443 | -€63,198 | - |
| + Depreciation and write-downs630 | €4,531 | €5,646 | ▲ 24.6% |
| Operating cash flow (approximation) | €42,973 | -€57,552 | - |
| Investment in fixed assets (approximation) | - | -€6,428 | - |
| Change in cash | - | €1,400 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Directors
1 director, no change since 2022
THIENPOND Bart Jozef Carlos
Current
Director (not named in the articles) · since 06-09-2022 · term without a fixed end · listed in the 2024 annual accounts, filed on 31-07-2025
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Matthias Gesquiere Maaltemeers 84, 9051 1 Gent (Sint-Denijs-Westrem) |
14-10-2025 → present |
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 08-09-2022Owners and capital
Shareholders
At incorporation
act of 08-09-2022 ↗
- THIENPOND Bart Jozef Carlos 20 shares (20%) · €200
- EYSERMANS Heidi Bernadette Mark 20 shares (20%) · €200
- THIENPOND Jens Wilfried Maaike 60 shares (60%) · €600
Capital transactions
Capital over time
- 08-09-2022 Incorporation · €1,000 · 100 shares
Articles of association
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Besluit algemene vergadering die beraadslaagt zoals inzake statutenwijziging”
Articles of association, deed of 08-09-2022 (in Dutch)
Network & group
Chains & Wheels shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of Chains & Wheels. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2025
20-10
Bankruptcy
Bankruptcy declared
Enterprise Court of Ghent, Ghent division · judgment of 14-10-2025
31-07
abbreviated format · on the deadline day
2024
31-10
abbreviated format · 92 days late
05-04
Gazette deed
PurposePurpose change · Amendment of the articles · Power of attorney6 points ▸
Gazette deed
Purpose
Purpose change · Amendment of the articles · Power of attorney6 points ▸
- General meeting, 04-03-2024
- Other provision, “verslaggeving inzake wijziging van het voorwerp, eerste beslissing” (deed in Dutch)
- Purpose change
- Amendment of the articles, 3
- Power of attorney
- Power of attorney, Bernard Van der Auwermeulen
2022
08-09
Gazette deed
IncorporationStarting capital €1,000 · Appointment: THIENPOND Bart Jozef Carlos (director) · Founder9 points ▸
Gazette deed
Incorporation
Starting capital €1,000 · Appointment: THIENPOND Bart Jozef Carlos (director) · Founder9 points ▸
- Incorporation, “Chains & Wheels” (deed in Dutch)
- Founder, THIENPOND Bart Jozef Carlos
- Founder, EYSERMANS Heidi Bernadette Mark
- Founder, THIENPOND Jens Wilfried Maaike
- Founding capital, €1,000
- Kind of shares, “gelijk recht in winstverdeling”, 40 (deed in Dutch)
- Board rule, 1
- Director appointment, THIENPOND Bart Jozef Carlos (director (not named in the articles))
- Registered office clause, “9930 Lievegem,Markt 13” (deed in Dutch)
SignalGazette deedNBB filing
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Opening faillissement
- Last annual accounts
- financial year to 31 December 2024
- Legal form
- Private limited company
- Active since
- 6 September 2022
Register details
Identity
Name
Chains & Wheels in Dutch
Enterprise number
0790.474.576
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 08-09-2022 (in Dutch)Name clauseThe company operates under this name according to its articles.
Chains & Wheels
deed of 08-09-2022 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren in België of buitenland bij enkel besluit…”
deed of 08-09-2022 (in Dutch)Registered office and establishments
Registered office
Markt 13, 9930 Lievegem, Belgium
Establishment unit
Chains & Wheels, Markt 13, 9930 Lievegem since 06-09-2022 · unit number 2.335.673.490
Activities
NACEBEL 202547632
Retail sale of bicycles main activity
30920
Manufacture of other transport equipment
47639
Retail sale of other sporting goods
77210
Renting and leasing of sports and recreation goods
95290
Repair and maintenance of other personal and household goods
Codes under NACEBEL 2008
47785
Retail trade main activity
30920
Manufacture of other transport equipment
47640
Retail trade
77210
Renting and leasing of sports and recreation goods
95290
Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Joint committee
149 Paritair Comité voor de sectors die aan de metaal-, machine- en elektrische bouw verwant zijn annual accounts 2024
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 05-04-2024 (in Dutch)
“Aan en verkoop van sportartikelen in het algemeen,fietsen en bijhorende accessoires in het bijzonder; Aan en verkoop van kledij in het…”
16 activities
- Aan en verkoop van sportartikelen in het algemeen,fietsen en bijhorende accessoires in het bijzonder;
- Aan en verkoop van kledij in het algemeen,sportkledij in het bijzonder
- Aan en verkoop van schoeisel in het algemeen,sportschoeisel in het bijzonder;
- Aan en verkoop van gemotoriseerde tweewielers;
- Het verlenen van diensten aangaande assemblage en herstelling van fietsen;
- Aanmaken nummerplaten voertuigen
- Uitbating horecazaak
- Herstellen en verkopen van auto’s en toebehoren
- Groot en kleinhandel in sloten en sleutels en alle mogelijke toebehoren
- De reparatie van sleutels,sloten,inclusief expres reparatie aan huis
- De vervaardiging van hangsloten,grendelsloten en andere sloten,sleutels en andere hang en sluitwerk voor gebouwen,meubels,voertuigen enzovoort
- De vervaardiging van scharnieren,hengsels en hengselduimen; Vervaardigen van elektrische apparatuur voor hoorbare of zichtbare signalen,alsook diensten,advies,plaatsing en onderhoud van beveiligingssystemen en sluitplannen
- Verhuur fietsen
- Transport onderdelen en materialen
- Verkoop van reis en trekkingsaccessoires
- Herstellen en verkoop gemotoriseerde tweewielers
Invoicing and payment
VAT number
BE 0790.474.576
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
30 June at 14:00
deed of 08-09-2022 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
299 m²
Building footprint
292 m²
Building volume
1,718 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44080D0264/00V000 | Flanders | 299 m² | 1 · 292 m² | 14.0 m · 2 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.