CINARLI
Open bankruptcyA bankruptcy procedure is open for CINARLI according to publications in the Belgian State Gazette; curator: SYLVIA LAGROU. The file additionally contains 2 judicial reorganisations. The 2023 annual accounts show equity of €59k and a net result of €175k.
Signals
Four 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 30-06-2023 was due by 31-01-2024 and was filed on 12-02-2024, 12 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
2025
not filed
2024
not filed
2023
12 d late
2022
133 d late
2021
163 d late
2019
60 d late
2018
132 d early
← before the deadline
after the deadline →
Financials · fiscal year 2023, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€59k
2022 · €-116k
2018: €191k
2019: €210k
2021: €-72k
2022: €-116k
2018 → 2023
Total assets
€785k▲ 104%
2022 · €385k
2018: €1.20M
2019: €907k
2021: €743k
2022: €385k
2018 → 2023
Net result
€175k
2022 · €-44k
2018: €42k
2019: €19k
2021: €-282k
2022: €-44k
2018 → 2023
Working capital
€255k
2022 · €-116k
2018: €-76k
2019: €-331k
2021: €-254k
2022: €-116k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202120222023Trend
Equity€191k-€210k▲ 10.2%€-72k€-116k▼ 61.3%€59k
Operating result€86k-€178k▲ 106%€93k▼ 48.1%€126k▲ 35.7%€218k▲ 73.5%
Net result€42k-€19k▼ 53.3%€-282k€-44k▲ 84.4%€175k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2023 is 73% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €785k
Fixed assets
€866▲ 76.0%
Current assets
€784k▲ 104%
Equity and liabilities €785k
Equity
€59k
Debt
€725k
Debt finances 92.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€218k
Cash flow
€176k
Solvency
7.6%▲
2022 · -30.0%
Current ratio
1.48▲
2022 · 0.77
Quick ratio
1.48▲
2022 · 0.77
Debt / equity
12.20▲
2022 · -4.33
ROE
294.2%
ROA
22.3%▲
2022 · -11.4%
Interest coverage
5.10
Debt
€725k▲
2022 · €500k
Debt ≤ 1 year
€529k▲
2022 · €500k
Staff costs
€578k▲
2022 · €191k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€385k€785k▲
Fixed assets21/28€492€866▲
Tangible fixed assets22/27€492€866▲
Plant, machinery and equipment23-€866
Furniture and vehicles24€492-
Current assets29/58€384k€784k▲
Amounts receivable within one year40/41€356k€760k▲
Trade receivables40€311k€681k▲
Other amounts receivable41€44k€79k▲
Cash at bank and in hand54/58€27k€23k▼
Deferred charges and accrued income490/1€958€881▼
Equity and liabilities
Total equity and liabilities10/49€385k€785k▲
Equity10/15€-116k€59k▲
Contributions10/11€119k€119k=
Reserves13€83k€83k=
Non-distributable reserves130/1€12k€12k=
Other1319€12k€12k=
Tax-exempt reserves132€52k€52k=
Distributable reserves133€19k€19k=
Profit (loss) carried forward14€-317k€-142k▲
Amounts payable17/49€500k€725k▲
Amounts payable within one year42/48€500k€529k▲
Financial debts43€120k€20k▼
Credit institutions430/8€120k€20k▼
Trade debts44€184k€44k▼
Suppliers440/4€184k€44k▼
Taxes, remuneration and social security45€122k€404k▲
Taxes450/3€122k€282k▲
Remuneration and social security454/9-€122k
Other amounts payable47/48€74k€61k▼
Accrued charges and deferred income492/3-€197k
Income statement
Code20222023
Non-recurring operating income76A€12k-
Remuneration, social security and pensions62€191k€578k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€621
Other operating charges640/8€974€23k▲
Gross operating margin9900€318k€819k▲
Operating profit (loss)9901€126k€218k▲
Financial income75/76B€1k-
Recurring financial income75€1k-
Financial charges65/66B€171k€43k▼
Recurring financial charges65€98k€43k▼
Non-recurring financial charges66B€72k-
Profit (loss) for the period before taxes9903€-44k€175k▲
Income taxes67/77€227-
Profit (loss) for the period9904€-44k€175k▲
Profit (loss) for the period to be appropriated9905€-44k€175k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-317k€-142k▲
Profit (loss) brought forward from the previous period14P€-273k€-317k▼
Social balance
Average headcount (FTE)9087-17.2
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
04-11
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · CINARLI BV PICARD- STRAAT 7/100, 1000 BRUSSEL 1 · event 28-10-2025
2024
13-11
Judicial reorganisation
Plan homologation
ondernemingsrechtbank Brussel · 20240005 · event 06-11-2024
21-05
Judicial reorganisation
Opening
ondernemingsrechtbank Brussel · collectif · event 02-05-2024
12-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 12 days late
2023
30-06
Financial
Back to profitnet €175k
Net result €175k after 2 loss-making years.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 133 days late
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 163 days late
2021
30-06
Financial
Weakest financial yearnet €-282k ▼1549%
Net result drops to €-282k, the lowest in the series.
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 60 days late
2019
30-09
Financial
Equity above €200kEq €210k ▲10.2%
2 profitable years in a row build equity to €210k.
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
07-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
24-02
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
12-05
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 29 days late
2013
20-08
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 20 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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
Registered office, Brussel · 2 establishment units since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Picardstraat 71000 BrusselGround area
6.6 ha
Building footprint
5.3 ha
Volume, LiDAR
645,606 m³
3 parcels, Brussels, Flanders · tallest building 34.0 m, ±6 floors. Linked by address, not a title deed.
2 establishment units
Cinarli
since 19992.092.941.779
Cinarli Packaging
since 20202.304.809.971
3 parcels
Flanders
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21814P0441/00B000 | Brussels | 4.4 ha | 1 · 3.9 ha | 34.0 m · 6 fl. |
| 12392A0990/00A000 | Flanders | 1.5 ha | 1 · 1.3 ha | 0.5 m |
| 21652E0165/00G008 | Brussels | 6,815 m² | 1 · 1,852 m² | 20.2 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels 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 | SYLVIA LAGROU JOZEF VAN ELEWIJCKSTRAAT 86
BUS 6, 1853 STROMBEEK-BEVER |
28-10-2025 → present |
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Of 304 companies in sector 82920 we hold annual accounts for 198. 104 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-09-1999
Fiscal year end30-06
Activities, NACEBEL
82920Office administrative, office support and other business support activities
53200Other postal and courier activities
64120
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.