CINABRE

Open bankruptcy

Coöperatieve vennootschap met beperkte aansprakelijkheidfounded 1999KBO/BCE: BE 0468.309.466

A bankruptcy procedure is open for CINABRE according to publications in the Belgian Official Gazette; trustee: Antoine Braun.

Summary

The file additionally contains 1 administrative flag. The 2017 annual accounts show equity of €62,811 and a net result of €3,566.

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CINABREOpen bankruptcy

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Are you a creditor?

Open bankruptcy Source: Belgian Official Gazette

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.

The procedure

Court: Enterprise Court of Walloon Brabant
Declared bankrupt: 5 September 2022
Supervising judge: Alain Kirsch
Official Gazette: 09-09-2022 (pdf) ↗search the document for 2022/131383

Deadlines

Appeal or third-party opposition until: passed on 24 September 2022Fifteen 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 5 October 2022art. XX.104 and XX.155, Code of Economic Law
First verification report: passed on 17 October 2022Reclaim 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 5 September 2023A late claim shares only in what has not yet been paid out, and you bear its costs.art. XX.165, Code of Economic Law

Trustee

Antoine BraunVieux Chemin Du Poete 11, 1301 Biergesa.braun@ibilaw.be

What to do now

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.

The judgment is more than a year old: the deadline for a late claim (art. XX.165, Code of Economic Law) has passed too.

View the file in RegSol ↗ Follow Follow this bankruptcy: you are alerted when it is closed or reversed.

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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Activity

Activity not known1 site

Size

≈ €160,000turnover 2017, estimated

Equity: €62,811
Profit: €3,566

Turnover estimated from the gross margin

Financial health

Open bankruptcy: no score

Structure

2 deeds in the Belgian Official Gazette

Signalsraises riskOpen bankruptcyAdministrative warnings in the KBO publicationsShow the evidence

Signals

Two signals.

raises risk

Open bankruptcy

Active bankruptcy procedure in the Belgian Official Gazette. Claims are handled by the appointed trustee. The KBO register also records: open bankruptcy.

Belgian Official Gazette

Administrative warnings in the KBO publications

1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.

KBO publications

Publications

Late accounts filing

09-09-2022 OpeningEnterprise Court of Walloon Brabant…
22-08-2022 Late accounts filingKBO administration
27-08-2018 Annual accounts filedfinancial year 2017 · micro…

Financials · financial year 2017, micro format

2017 annual accounts filed late (119 days) Filed on 27 August 2018, deadline 30 April 2018 (7 months after the close on 30 September 2017, Companies Code art. 3:10). Source: NBB, 2018-53400450.

Turnover

≈ €160,000

Estimated: probably between €110,000 and €280,000

EBIT margin

Not included in this filing

Net result

€3,566▼ 19.0%

2016 · €4,401

Working capital

€30,948▲ 25.9%

2016 · €24,588

Trend over the years

Last 5 years All years

2013 to 2017, 5 financial years 2013 to 2017, 5 financial years

The operating result recovers in 2017; 2017 is 30% above 2016.

Turnover and resultEquity and debtWorking capital

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€16,646 2017 Net result€3,566 2017

Every figure with its change against the financial year before

favourable unfavourable

Line20132014201520162017

Operating result€80,633-€34,316▼ 57.4%€70,988▲ 107%€12,835▼ 81.9%€16,646▲ 29.7%

Net result€65,742-€15,767▼ 76.0%€57,585▲ 265%€4,401▼ 92.4%€3,566▼ 19.0%

Equity€26,493-€42,260▲ 59.5%€54,844▲ 29.8%€59,245▲ 8.0%€62,811▲ 6.0%

Total assets€251,489-€285,387▲ 13.5%€268,415▼ 5.9%€255,229▼ 4.9%€289,151▲ 13.3%

Debt€224,996-€243,128▲ 8.1%€213,571▼ 12.2%€195,984▼ 8.2%€226,340▲ 15.5%

Working capital-€1,696--€1,251▲ 26.2%€10,064€24,588▲ 144%€30,948▲ 25.9%

The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2017 in colour, 2016 as the grey bar beneath

Assets €289,151

46.0%

54.0%

Fixed assets €132,965 ▼ 16.5%

Current assets €156,186 ▲ 62.8%

Equity and liabilities €289,151

21.7%

78.3%

Equity €62,811 ▲ 6.0%

Debt €226,340 ▲ 15.5%

Debt's share of the balance-sheet total rises from 76.8% to 78.3%. Equity and debt are higher.

Key figures and ratios

2017 value · change against 2016

EBITDA

€47,849▲

2016 · €46,743

Cash flow

€34,770▼

2016 · €38,308

Current ratio

1.25▼

2016 · 1.34

Debt to equity

1.61▼

2016 · 2.10

ROE

5.7%▼

2016 · 7.4%

ROA

1.2%▼

2016 · 1.7%

Debt ≤ 1 year

€125,239▲

2016 · €71,358

Debt > 1 year

€101,101▼

2016 · €124,626

Income taxes

€4,841▲

2016 · €3,138

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2017 against 2016 · 24 lines

Balance sheet Code20162017

Assets

Total assets20/58€255,229€289,151▲

Fixed assets21/28€159,283€132,965▼

Tangible fixed assets22/27€159,283€132,965▼

Current assets29/58€95,946€156,186▲

Amounts receivable within one year40/41€47,504€129,356▲

Cash at bank and in hand54/58€48,402€26,831▼

Equity and liabilities

Total equity and liabilities10/49€255,229€289,151▲

Equity10/15€59,245€62,811▲

Contributions10/11€18,600€18,600=

Reserves13€1,860€1,860=

Profit (loss) carried forward14€38,785€42,351▲

Amounts payable17/49€195,984€226,340▲

Amounts payable after more than one year17€124,626€101,101▼

Amounts payable within one year42/48€71,358€125,239▲

Trade debts44€27,130€53,515▲

Income statement Code20162017

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33,907€31,204▼

Gross operating margin9900€52,581€54,064▲

Operating profit (loss)9901€12,835€16,646▲

Recurring financial income75€3,288€1,905▼

Recurring financial charges65€8,585€10,144▲

Profit (loss) for the period before taxes9903€7,539€8,407▲

Income taxes67/77€3,138€4,841▲

Profit (loss) for the period9904€4,401€3,566▼

Profit (loss) for the period to be appropriated9905€4,401€3,566▼

Line	2013	2014	2015	2016	2017	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€24,859	€30,903	€37,667	€33,907	€31,204	▼ 8.0%
Gross operating margin9900	€110,242	€71,536	€116,824	€52,581	€54,064	▲ 2.8%
Operating profit (loss)9901	€80,633	€34,316	€70,988	€12,835	€16,646	▲ 29.7%
Recurring financial income75	-	€1,949	€4,950	€3,288	€1,905	▼ 42.1%
Recurring financial charges65	€9,416	€11,921	€10,609	€8,585	€10,144	▲ 18.2%
Profit (loss) for the period before taxes9903	€71,217	€24,343	€65,329	€7,539	€8,407	▲ 11.5%
Income taxes67/77	€5,475	€8,577	€7,744	€3,138	€4,841	▲ 54.3%
Profit (loss) for the period9904	€65,742	€15,767	€57,585	€4,401	€3,566	▼ 19.0%
Profit (loss) for the period to be appropriated9905	€65,742	€15,767	€57,585	€4,401	€3,566	▼ 19.0%

Line	2013	2014	2015	2016	2017	Change
Assets
Total assets20/58	€251,489	€285,387	€268,415	€255,229	€289,151	▲ 13.3%
Fixed assets21/28	€196,757	€209,619	€190,602	€159,283	€132,965	▼ 16.5%
Intangible fixed assets21	€6,000	€3,000	-	-	-	-
Tangible fixed assets22/27	€190,757	€206,619	€190,602	€159,283	€132,965	▼ 16.5%
Current assets29/58	€54,732	€75,769	€77,813	€95,946	€156,186	▲ 62.8%
Amounts receivable within one year40/41	€37,491	€16,656	€58,441	€47,504	€129,356	▲ 172%
Cash at bank and in hand54/58	€17,240	€59,112	€19,372	€48,402	€26,831	▼ 44.6%
Equity and liabilities
Total equity and liabilities10/49	€251,489	€285,387	€268,415	€255,229	€289,151	▲ 13.3%
Equity10/15	€26,493	€42,260	€54,844	€59,245	€62,811	▲ 6.0%
Contributions10/11	€18,600	€18,600	€18,600	€18,600	€18,600	=
Reserves13	€1,860	€1,860	€1,860	€1,860	€1,860	=
Profit (loss) carried forward14	€6,033	€21,800	€34,384	€38,785	€42,351	▲ 9.2%
Amounts payable17/49	€224,996	€243,128	€213,571	€195,984	€226,340	▲ 15.5%
Amounts payable after more than one year17	€168,569	€166,108	€145,822	€124,626	€101,101	▼ 18.9%
Amounts payable within one year42/48	€56,427	€77,019	€67,749	€71,358	€125,239	▲ 75.5%
Trade debts44	€8,745	€15,388	€34,953	€27,130	€53,515	▲ 97.3%

Line	2013	2014	2015	2016	2017	Change
Profit (loss) for the period9904	€65,742	€15,767	€57,585	€4,401	€3,566	▼ 19.0%
+ Depreciation and write-downs630	€24,859	€30,903	€37,667	€33,907	€31,204	▼ 8.0%
Operating cash flow (approximation)	€90,601	€46,670	€95,252	€38,308	€34,770	▼ 9.2%
Investment in fixed assets (approximation)	-	-€43,764	-€18,651	-€2,588	-€4,885	▼ 88.7%
Change in cash	-	€41,872	-€39,740	€29,029	-€21,571	-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 17 filings with the National Bank

Financial year	Type	Filed	Reference
30-09-2017	micro format	27-08-2018	2018-53400450
30-09-2016	full format	20-04-2017	2017-09800391
30-09-2015	full format	13-04-2016	2016-10000586
30-09-2014	full format	13-04-2015	2015-09700038
30-09-2013	full format	24-04-2014	2014-10000128
30-09-2012	full format	30-05-2013	2013-14300304
30-09-2011	full format	24-05-2012	2012-12500133
30-09-2010	full format	30-05-2011	2011-13600438
30-09-2009	full format	26-04-2010	2010-10100204
30-09-2008	full format	16-03-2009	2009-07800073

Show all 17 filings

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

No directors read yet: 0 of 2 Gazette acts processed. See the directors and other office holders in the KBO →

Insolvency mandates

1 mandate

Role	Name	Tenure
Trustee	Antoine Braun Vieux Chemin Du Poete 11, 1301 Bierges ↔ Also on 98 other cases	05-09-2022 → present

Owners and capital

Owners

No owners or capital events in the accounts and acts we read.

History

On 16 December 1999, CINABRE was incorporated.¹ Total assets went from €251,489 in 2013 to €289,151 in 2017.² The company was declared bankrupt on 5 September 2022.³

Acts, filings and financial milestones

All 12Signals 2Filings 10

2022

09-09

Bankruptcy Opening

Enterprise Court of Walloon Brabant · judgment of 05-09-2022

22-08

KBO administration Late accounts filing

2018

27-08