Active BE 0401.289.988Public limited companyOpen bankruptcy

CONVENTS PRODUCTS

Laakstraat 53 ·3582 Beringen, Belgium· 67 yrs active

Sector: Schrijnwerk (43320)

Conclusion Checked

A bankruptcy procedure is open for CONVENTS PRODUCTS according to publications in the Belgian State Gazette. The 2020 annual accounts show equity of €1.69M and a net result of €-32k.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€1.69M
Net result	€-32k
Staff (FTE)	46.1
Better than sector	33%

Financial profile 5 of 5 axes measured · computed by Checked

22 / 100

Fragile profile, watch stability in particular.

All 5 axes are computed from data Checked has read.

Health 10

Profitability 18

Solvency 60

Growth 22

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High riskRegister: open bankruptcy

This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.

Components

· Open bankruptcy (+50)

Trust signals 2 signals

Register: open bankruptcy

The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2020 · computed

10 / 100 Critical

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2020 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 13-09-2021 with the NBB · fiscal year 2020 · volledig

RevenueOperating resultNet result

Sector comparison

Fiscal year 2020 · NACE 43, Specialised construction · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	20.9%	31.9%	better than 33% of 295 sector peers
Net result	€-32k	€16k	better than 10% of 295 sector peers
Equity	€1.69M	€126k	better than 95% of 295 sector peers
Employees (FTE)	46.1	7.8	better than 93% of 166 sector peers
Total assets	€8.08M	€527k	better than 95% of 295 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Revenue

€5.22M

-78.4% 18-20

EBITDA

€345k

+35.0% 18-20

Net profit

€-32k

+91.6% 18-20

Cash flow

€268k

+39.5% 18-20

Total assets

€8.08M

-14.3% 18-20

Equity

€1.69M

-1.9% 18-20

Working capital

€484k

+120.3% 18-20

Employees (FTE)

46

-7.4% 18-20

Show 13 other metrics

Income taxes

€2k

-75.5% 18-20

Debt

€6.38M

-17.1% 18-20

Debt ≤ 1y

€6.30M

-17.3% 18-20

Debt > 1y

€54k

-19.5% 18-20

Current ratio

1.08

+4.7% 18-20

Quick ratio

1.00

+1.7% 18-20

Solvency

20.9%

+14.4% 18-20

Debt / equity

0.03

-18.0% 18-20

ROE

-1.9%

+91.5% 18-20

ROA

-0.4%

+90.2% 18-20

Net margin

-0.6%

+61.2% 18-20

EBITDA margin

6.6%

+525.7% 18-20

Interest coverage

5.11

+111.3% 18-20

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2020
Deposit	volledig
Revenue	€5.22M
EBITDA	€345k
Net profit	€-32k
Cash flow	€268k
Staff costs	-
Income taxes	€2k
Dividends	-
Total assets	€8.08M
Equity	€1.69M
Debt	€6.38M
of which ≤ 1y	€6.30M
of which > 1y	€54k
Working capital	€484k
Employees (FTE)	46.1

Ratios (computed)

	2020
Current ratio	1.08
Quick ratio	1.00
Working capital ratio	6.0%
Solvency	20.9%
Debt / equity	0.03
Long-term debt ratio	0.03
Interest coverage	5.11
Gross margin	-
Net margin	-0.6%
ROA	-0.4%
ROE	-1.9%
EBITDA margin	6.6%
Days sales outstanding	361d
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2020

Assets

Fixed assets €1.16M · 14.6% Current assets €6.78M · 85.4%

Equity & liabilities

Equity €1.69M · 20.9% Provisions €8k · 0.1% Debt €6.38M · 79.0%

Full annual accounts (27 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€8.08M
Fixed assets	21/28	€1.16M
Formation expenses	20	€139k
Intangible fixed assets	21	€21k
Tangible fixed assets	22/27	€1.11M
Financial fixed assets	28	€26k
Current assets	29/58	€6.78M
Stocks & contracts in progress	3	€505k
Amounts receivable within one year	40/41	€5.17M
Cash & bank	54/58	€98k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€8.08M
Equity	10/15	€1.69M
Contributions / capital	10/11	€1.45M
Reserves	13	€236k
Provisions & deferred taxes	16	€8k
Amounts payable	17/49	€6.38M
Amounts payable after one year	17	€54k
Amounts payable within one year	42/48	€6.30M
Trade debts payable within one year	44	€3.16M
Income statement
Turnover	70	€5.22M
Operating result	9901	€44k
Financial income	75	€6k
Financial charges	65	€80k
Result before taxes	9903	€-31k
Income taxes	67/77	€2k
Net result for the period	9904	€-32k
Result to be appropriated	9905	€-32k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates4 persons

Role	Name	Tenure	Source
Curator	BERT VANDENREYT PAALSESTEENWEG 133, 3583 05 BERINGEN-PAAL	29-09-2022 → present	Belgian State Gazette
Curator	ANN NOË PAALS- ESTEENWEG 133, 3583 05 BERINGEN-PAAL	29-09-2022 → present	Belgian State Gazette
Curator	PATRICK BUSSERS VISSERIJSTRAAT, 4, 3590 DIEPENBEEK-	29-09-2022 → present	Belgian State Gazette
Curator	GODFREY LESIRE LIEVEHERE- BOOMSTRAAT 118, 3720 KORTESSEM	29-09-2022 → present	Belgian State Gazette

Legal Structure

NACE primary	Schrijnwerk(43320)
Legal form	Public limited company(014)
Incorporation	29-05-1959
Status	Active
Postal code	3582
First BS signal	05-10-2022
Latest BS signal	05-10-2022

Establishment units 1 location

CONVENTS PRODUCTS NV

Laakstraat 53, 3582 BeringenVERV. BALKEN, LIGGERS, KEPERS ...

since 19592.006.292.471

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
71029B1887/00K002	Flanders	328 m²	1 · 157 m²	9.9 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2022

05-10-2022

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Hasselt · CONVENTS PRODUCTS NV LAAKSTRAAT 53, 3582 BERINGEN · event 29-09-2022

2021

13-09-2021