CHALLENGE PROJECTS
Open bankruptcyOverview
Information for creditors
Open bankruptcy
Source: Belgian Official Gazette
Declared bankrupt on 3 April 2015 · trustee Bermond Lucille · a claim can no longer be filed
The procedure
- Court
- French-language Commercial Court of Brussels
- Official Gazette
- 10-04-2015search the document for 2015/103316
Deadlines
- Appeal or third-party opposition until
- passed on 25 April 2015That 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 3 May 2015art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 13 May 2015Reclaim 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 3 April 2016A 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
- Bermond LucilleChaussee De La Hulpe 187, 1170
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.
- This bankruptcy was opened before April 2017 and is not in RegSol. The trustee and the registry of the enterprise court keep the file.
- 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.Creditor guide for this company
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Overview
Official details
Source: KBO- Status
- Open bankruptcy registered since 01-10-1987
- Legal form
- Public limited company
- Activity
- Other business support services NACE 82990
- Establishment unit
- 2.030.496.149 1030 Schaarbeek, since 15-10-1987
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
No score
Annual accounts 2012
- Gross margin
- €365,644
- ▼ 50.2%
- Turnover
- ≈ €550,000
- estimated
- Loss
- €1.0m
- Equity
- -€316,780
- Total assets
- €537,474
- ▼ 77.9%
- Staff
- 9.3 FTE
- ▼ 28.5%
Filed on 23-10-2013
Financials
Financials · financial year 2012, full format
Annual accounts 2012 filed on 23-10-2013 PDF all 26 filings
Turnover
≈ €550,000
Estimated: probably between €450,000 and €770,000
EBIT margin
Not included in this filing
Net result
-€1.0m
2011 · €215,861
Working capital
-€346,600▲ 23.1%
2011 · -€450,499
Trend over the years
2008 to 2012, 5 financial years 2008 to 2012, 5 financial years
The operating result for 2012 is a loss of €251,659, larger than the loss of €24,090 in 2011.
Operating result-€0.3m
2012
Net result-€1.0m
2012
Total assets€0.5m
2012
Equity-€0.3m
2012
Debt€0.8m
2012
Working capital-€0.3m
2012
Staff (FTE)9.3
2012
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.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20082009201020112012
Operating result€0.2m--€0.02m-€0.8m▼ 3,024%-€0.02m▲ 96.9%-€0.3m▼ 945%
Net result€0.008m--€0.04m-€0.9m▼ 2,192%€0.2m-€1.0m
Equity€0.4m-€1.2m▲ 178%€0.4m▼ 70.7%€0.7m▲ 101%-€0.3m
Total assets€2.5m-€3.4m▲ 36.9%€2.5m▼ 25.9%€2.4m▼ 3.6%€0.5m▼ 77.9%
Debt€2.0m-€2.2m▲ 6.7%€2.1m▼ 0.8%€1.7m▼ 22.4%€0.8m▼ 51.7%
Working capital-€0.2m--€0.4m▼ 93.0%-€1.0m▼ 133%-€0.5m▲ 53.4%-€0.3m▲ 23.1%
Staff (FTE)15.6-15.6=10▼ 35.9%13▲ 30.0%9.3▼ 28.5%
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2012 in colour, 2011 as the grey bar beneath
Assets €537,474
Fixed assets
€102,050 ▼ 92.0%
Current assets
€435,424 ▼ 62.1%
Equity and liabilities
Equity-€316,780
Debt€799,253
Equity is negative. Debt (€799,253) exceeds the balance-sheet total (€537,474).
Key figures and ratios
EBITDA
-€205,595▼
2011 · €46,731
Cash flow
-€971,517▼
2011 · €286,682
Solvency
-58.9%▼
2011 · 29.6%
Current ratio
0.56▼
2011 · 0.72
Quick ratio
0.51▼
2011 · 0.67
ROA
-189.3%▼
2011 · 8.9%
Debt ≤ 1 year
€782,024▼
2011 · €1.6m
Debt > 1 year
€17,230▲
2011 · €16,375
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.
Annual accounts
| Line | 2008 | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.3m | €0.3m | €0.07m | €0.05m | ▼ 35.0% |
| Gross operating margin9900 | €1.2m | €1.1m | €0.5m | €0.7m | €0.4m | ▼ 50.2% |
| Operating profit (loss)9901 | €0.2m | -€0.02m | -€0.8m | -€0.02m | -€0.3m | ▼ 945% |
| Recurring financial income75 | €0.03m | €0.01m | €0.1m | €0.06m | €0.02m | ▼ 69.7% |
| Recurring financial charges65 | €0.2m | €0.07m | €0.2m | €0.2m | €0.03m | ▼ 85.0% |
| Profit (loss) for the period before taxes9903 | €0.03m | -€0.03m | -€0.9m | €0.2m | -€1.0m | - |
| Income taxes67/77 | €0.02m | €0.008m | €0.009m | €0.001m | - | - |
| Profit (loss) for the period9904 | €0.008m | -€0.04m | -€0.9m | €0.2m | -€1.0m | - |
| Profit (loss) for the period to be appropriated9905 | €0.008m | -€0.04m | -€0.9m | €0.2m | -€1.0m | - |
| Line | 2008 | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €3.4m | €2.5m | €2.4m | €0.5m | ▼ 77.9% |
| Fixed assets21/28 | €0.9m | €1.8m | €1.4m | €1.3m | €0.1m | ▼ 92.0% |
| Intangible fixed assets21 | €0 | €0.07m | €0.03m | - | - | - |
| Tangible fixed assets22/27 | €0.4m | €0.3m | €0.07m | €0.03m | - | - |
| Financial fixed assets28 | €0.4m | €1.4m | €1.3m | €1.3m | €0.1m | ▼ 91.8% |
| Current assets29/58 | €1.6m | €1.6m | €1.1m | €1.1m | €0.4m | ▼ 62.1% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.2m | €0.07m | €0.04m | ▼ 50.0% |
| Amounts receivable within one year40/41 | €1.4m | €1.3m | €1.0m | €1.1m | €0.4m | ▼ 63.2% |
| Cash at bank and in hand54/58 | €0.003m | €0.001m | €0.001m | €0.003m | €0.003m | ▲ 11.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €3.4m | €2.5m | €2.4m | €0.5m | ▼ 77.9% |
| Equity10/15 | €0.4m | €1.2m | €0.4m | €0.7m | -€0.3m | - |
| Contributions10/11 | €0.3m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €0.2m | €0.03m | €0.03m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0 | -€0.04m | -€0.9m | -€0.7m | -€1.7m | ▼ 149% |
| Provisions and deferred taxes16 | €0.03m | €0.03m | €0.03m | €0.06m | €0.06m | = |
| Amounts payable17/49 | €2.0m | €2.2m | €2.1m | €1.7m | €0.8m | ▼ 51.7% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.06m | €0.02m | €0.02m | ▲ 5.2% |
| Amounts payable within one year42/48 | €1.8m | €2.0m | €2.1m | €1.6m | €0.8m | ▼ 51.1% |
| Trade debts44 | €0.9m | €1.0m | €0.6m | €0.6m | €0.6m | ▲ 0.6% |
| Line | 2008 | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.008m | -€0.04m | -€0.9m | €0.2m | -€1.0m | - |
| + Depreciation and write-downs630 | €0.2m | €0.3m | €0.3m | €0.07m | €0.05m | ▼ 35.0% |
| Operating cash flow (approximation) | €0.2m | €0.2m | -€0.6m | €0.3m | -€1.0m | - |
| Investment in fixed assets (approximation) | - | -€1.2m | €0.06m | €0.06m | €1.1m | ▲ 19× |
| Change in cash | - | -€0.002m | -€0.001m | €0.002m | €344 | ▼ 85.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2012 | full format | 23-10-2013 | 2013-64100045 | |
| 31-12-2011 | full format | 28-09-2012 | 2012-59400581 | |
| 31-12-2010 | full format | 13-02-2012 | 2012-03500156 | |
| 31-12-2009 | full format | 01-12-2010 | 2010-62200058 | |
| 31-12-2008 | full format | 31-08-2009 | 2009-73800051 | |
| 31-12-2007 | full format | 06-10-2008 | 2008-77600016 | |
| 31-12-2006 | full format | 02-10-2007 | 2007-76000137 | |
| 31-12-2005 | full format | 25-07-2006 | 2006-52404298 | |
| 31-12-2004 | full format | 01-08-2005 | 2005-61605336 | |
| 30-04-2004 | full format | 27-09-2004 | 2004-66705329 |
Board & ownership
Directors
Directors
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Bermond Lucille Chaussee De La Hulpe 187, 1170 |
03-04-2015 → present |
Owners and capital
Owners
Timeline
Acts, filings and financial milestones
2015
10-04
Bankruptcy
Bankruptcy declared
French-language Commercial Court of Brussels · judgment of 03-04-2015
2013
23-10
full format · 84 days late
2012
2011
31-12
Financial
Back to profitnet €215,861
The net result is €215,861, after 2 loss-making years.
31-12
Financial
Equity above €500,000equity €719,869 ▲101%
Equity rises from €358,104 to €719,869.
2010
01-12
full format · 123 days late
2009
31-12
Financial
Equity above €1mequity €1.2m ▲178%
Equity rises from €439,971 to €1.2m.
31-08
full format · 31 days late
2008
06-10
full format · 67 days late
2007
02-10
full format · 63 days late
Show earlier events
2006
25-07
full format · 6 days before the deadline
2005
01-08
full format · 1 day late
2004
27-09
full format · 64 days before the deadline
1987
22-10
Gazette deed
Incorporation
37 publications in the Belgian Official Gazette, the last on 16-02-2015
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Opening faillissement
- Last annual accounts
- financial year to 31 December 2012
- Legal form
- Public limited company
- Active since
- 1 October 1987
Register details
Identity
Name
CHALLENGE PROJECTS in French
Enterprise number
0432.087.488
Entity type
Legal entity
Registered office and establishments
Establishment unit
CHALLENGE PROJECTS, Thomas Vinçottestraat 18, 1030 Schaarbeek since 15-10-1987 · unit number 2.030.496.149
Activities
NACEBEL 202582990
Other business support services main activity
Codes under NACEBEL 2008
82990
Other business support services main activity
Codes under NACEBEL 2003
74879
main activity
Invoicing and payment
VAT number
BE 0432.087.488
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
2,100 m²
Building footprint
1,284 m²
Building volume
9,325 m³
Tallest building: 14.9 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21906D0068/00T009 | Brussels | 1,508 m² | 1 · 795 m² | 9.6 m · 2 |
| 21815D0329/00H003 | Brussels | 591 m² | 1 · 489 m² | 14.9 m · 3 |