CRM
Open bankruptcyA bankruptcy procedure is open for CRM according to publications in the Belgian State Gazette; curator: TIM DE MOERLOOSE.
Summary
The 2023 annual accounts show equity of €284k and a net result of €66k.
Signals
Three 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 17-04-2024, 77 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 · 7 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
77 d late
2022
90 d late
2021
1 d late
2020
281 d late
2019
76 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€284k▲ 30.6%
2022 · €218k
2019: €118klowest in 5 years
2020: €179k▲ +51.2% vs 2019
2021: €196k▲ +9.3% vs 2020
2022: €218k▲ +11.1% vs 2021
2023: €284k▲ +30.6% vs 2022highest in 5 years
2019 → 2023
Total assets
€345k▼ 34.4%
2022 · €526k
2019: €384k
2020: €465k▲ +21.0% vs 2019
2021: €439k▼ -5.6% vs 2020
2022: €526k▲ +19.8% vs 2021highest in 5 years
2023: €345k▼ -34.4% vs 2022lowest in 5 years
2019 → 2023
Net result
€66k▲ 207%
2022 · €22k
2019: €68khighest in 5 years
2020: €61k▼ -10.8% vs 2019
2021: €17k▼ -72.5% vs 2020lowest in 5 years
2022: €22k▲ +29.7% vs 2021
2023: €66k▲ +207% vs 2022
2019 → 2023
Working capital
€261k▲ 24.7%
2022 · €209k
2019: €89klowest in 5 years
2020: €150k▲ +68.5% vs 2019
2021: €176k▲ +17.5% vs 2020
2022: €209k▲ +18.7% vs 2021
2023: €261k▲ +24.7% vs 2022highest in 5 years
2019 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€118k-€179k▲ 51.2%€196k▲ 9.3%€218k▲ 11.1%€284k▲ 30.6%
2019: €118klowest in 5 years
2020: €179k▲ +51.2% vs 2019
2021: €196k▲ +9.3% vs 2020
2022: €218k▲ +11.1% vs 2021
2023: €284k▲ +30.6% vs 2022highest in 5 years
Operating result€89k-€89k▼ 0.2%€24k▼ 72.4%€30k▲ 22.4%€84k▲ 182%
2019: €89khighest in 5 years
2020: €89k▼ -0.2% vs 2019
2021: €24k▼ -72.4% vs 2020lowest in 5 years
2022: €30k▲ +22.4% vs 2021
2023: €84k▲ +182% vs 2022
Net result€68k-€61k▼ 10.8%€17k▼ 72.5%€22k▲ 29.7%€66k▲ 207%
2019: €68khighest in 5 years
2020: €61k▼ -10.8% vs 2019
2021: €17k▼ -72.5% vs 2020lowest in 5 years
2022: €22k▲ +29.7% vs 2021
2023: €66k▲ +207% vs 2022
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed two years in a row; 2023 is 182% above 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €345k
Fixed assets
€23k ▲ 181%
Current assets
€322k ▼ 37.8%
Equity and liabilities €345k
Equity
€284k ▲ 30.6%
Debt
€61k ▼ 80.2%
Debt's share of the balance-sheet total falls from 58.6% to 17.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€88k▲
2022 · €41k
Cash flow
€70k▲
2022 · €33k
Current ratio
5.28▲
2022 · 1.68
Quick ratio
3.08▲
2022 · 1.24
Debt to equity
0.22▼
2022 · 1.42
ROE
23.4%▲
2022 · 10.0%
ROA
19.3%▲
2022 · 4.1%
Interest coverage
113.42▲
2022 · 37.21
Debt ≤ 1 year
€61k▼
2022 · €308k
Income taxes
€17k▲
2022 · €7k
Staff costs
€9k▼
2022 · €30k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2023 against 2022 · 44 lines
Balance sheet
Code20222023
Assets
Total assets20/58€526k€345k▼
Fixed assets21/28€8k€23k▲
Tangible fixed assets22/27€3k€17k▲
Plant, machinery and equipment23€1k€5k▲
Furniture and vehicles24€1k€12k▲
Leasing and similar rights25€65-
Financial fixed assets28€5k€5k=
Current assets29/58€518k€322k▼
Stocks and contracts in progress3€135k€135k=
Stocks30/36€135k€135k=
Amounts receivable within one year40/41€282k€164k▼
Trade receivables40€272k€160k▼
Other amounts receivable41€10k€4k▼
Cash at bank and in hand54/58€101k€24k▼
Equity and liabilities
Total equity and liabilities10/49€526k€345k▼
Equity10/15€218k€284k▲
Contributions10/11€6k€6k=
Reserves13€211k€278k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€209k€276k▲
Amounts payable17/49€308k€61k▼
Amounts payable within one year42/48€308k€61k▼
Trade debts44€284k€33k▼
Suppliers440/4€284k€33k▼
Taxes, remuneration and social security45€24k€28k▲
Taxes450/3€24k€27k▲
Remuneration and social security454/9-€1k
Income statement
Code20222023
Non-recurring operating income76A€14k€24k▲
Remuneration, social security and pensions62€30k€9k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€4k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€29k-
Other operating charges640/8€8k€5k▼
Gross operating margin9900€108k€102k▼
Operating profit (loss)9901€30k€84k▲
Financial charges65/66B€1k€777▼
Recurring financial charges65€1k€777▼
Profit (loss) for the period before taxes9903€29k€83k▲
Income taxes67/77€7k€17k▲
Profit (loss) for the period9904€22k€66k▲
Profit (loss) for the period to be appropriated9905€22k€66k▲
Appropriation of the result
Profit (loss) to be appropriated9906€22k€66k▲
Transfer to equity691/2€22k€66k▲
To other reserves6921€22k€66k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €14k | €24k | ▲ 67.0% |
| Remuneration, social security and pensions62 | - | - | - | €30k | €9k | ▼ 69.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €11k | €11k | €11k | €4k | ▼ 66.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €29k | - | - |
| Other operating charges640/8 | - | - | - | €8k | €5k | ▼ 42.1% |
| Gross operating margin9900 | €163k | €130k | €45k | €108k | €102k | ▼ 5.8% |
| Operating profit (loss)9901 | €89k | €89k | €24k | €30k | €84k | ▲ 182% |
| Recurring financial income75 | €35 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €1k | €777 | ▼ 29.8% |
| Recurring financial charges65 | €2k | €2k | €383 | €1k | €777 | ▼ 29.8% |
| Profit (loss) for the period before taxes9903 | €87k | €86k | €24k | €29k | €83k | ▲ 190% |
| Income taxes67/77 | €19k | €26k | €7k | €7k | €17k | ▲ 140% |
| Profit (loss) for the period9904 | €68k | €61k | €17k | €22k | €66k | ▲ 207% |
| Profit (loss) for the period to be appropriated9905 | €68k | €61k | €17k | €22k | €66k | ▲ 207% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €384k | €465k | €439k | €526k | €345k | ▼ 34.4% |
| Fixed assets21/28 | €29k | €29k | €19k | €8k | €23k | ▲ 181% |
| Tangible fixed assets22/27 | €24k | €24k | €14k | €3k | €17k | ▲ 543% |
| Plant, machinery and equipment23 | - | - | - | €1k | €5k | ▲ 324% |
| Furniture and vehicles24 | - | - | - | €1k | €12k | ▲ 783% |
| Leasing and similar rights25 | - | - | - | €65 | - | - |
| Financial fixed assets28 | €5k | €5k | €5k | €5k | €5k | = |
| Current assets29/58 | €355k | €436k | €419k | €518k | €322k | ▼ 37.8% |
| Stocks and contracts in progress3 | €203k | €183k | €148k | €135k | €135k | = |
| Stocks30/36 | - | - | - | €135k | €135k | = |
| Amounts receivable within one year40/41 | €129k | €235k | €234k | €282k | €164k | ▼ 42.0% |
| Trade receivables40 | - | - | - | €272k | €160k | ▼ 41.2% |
| Other amounts receivable41 | - | - | - | €10k | €4k | ▼ 63.3% |
| Cash at bank and in hand54/58 | €23k | €17k | €38k | €101k | €24k | ▼ 76.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €384k | €465k | €439k | €526k | €345k | ▼ 34.4% |
| Equity10/15 | €118k | €179k | €196k | €218k | €284k | ▲ 30.6% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €112k | €173k | €190k | €211k | €278k | ▲ 31.5% |
| Non-distributable reserves130/1 | - | - | - | €2k | €2k | = |
| Reserves not available under the articles1311 | - | - | - | €2k | €2k | = |
| Distributable reserves133 | - | - | - | €209k | €276k | ▲ 31.7% |
| Profit (loss) carried forward14 | €7k | €12k | - | - | - | - |
| Amounts payable17/49 | €266k | €286k | €243k | €308k | €61k | ▼ 80.2% |
| Amounts payable within one year42/48 | €266k | €286k | €243k | €308k | €61k | ▼ 80.2% |
| Trade debts44 | €202k | €237k | €212k | €284k | €33k | ▼ 88.3% |
| Suppliers440/4 | - | - | - | €284k | €33k | ▼ 88.3% |
| Taxes, remuneration and social security45 | - | - | - | €24k | €28k | ▲ 15.8% |
| Taxes450/3 | - | - | - | €24k | €27k | ▲ 11.1% |
| Remuneration and social security454/9 | - | - | - | - | €1k | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68k | €61k | €17k | €22k | €66k | ▲ 207% |
| + Depreciation and write-downs630 | €10k | €11k | €11k | €11k | €4k | ▼ 66.4% |
| Operating cash flow (approximation) | €78k | €72k | €28k | €33k | €70k | ▲ 113% |
| Investment in fixed assets (approximation) | - | €-11k | €-2k | €0 | €-18k | - |
| Change in cash | - | €-5k | €20k | €63k | €-77k | ▼ 222% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
12-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 06-05-2025
2024
17-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 77 days late
2023
30-06
Financial
Liquidity triplescurrent ratio 5.28
Current ratio from 1.68 to 5.28; short-term debt falls from €308k to €61k.
01-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 90 days late
2022
30-06
Financial
Equity above €200kEq €218k ▲11.1%
4 profitable years in a row build equity to €218k.
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
08-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 281 days late
30-06
Financial
Weakest financial yearnet €17k ▼72.5%
Net result drops to €17k, the lowest in the series.
2020
30-06
Financial
Equity above €150kEq €179k ▲51.2%
2 profitable years in a row build equity to €179k.
16-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 76 days late
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 168 days late
2018
27-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 330 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 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, Gent · 1 establishment unit since 2016
Ground area
2.1 ha
Building footprint
1,241 m²
Volume, LiDAR
19,773 m³
2 parcels, Flanders · tallest building 18.8 m, ±5 floors. Linked by address, not a title deed.
85
companies at this address
See who is registered here
1 establishment unit
CRM
since 20162.256.091.722
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44032A0472/00R003 | Flanders | 1.9 ha | 1 · 1,241 m² | 18.8 m · 5 fl. |
| 72015D0785/00_000 | Flanders | 1,043 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 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 | TIM DE MOERLOOSE LEIEKAAI 25 C-D, 9000 GENT- |
06-05-2025 → present |
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Of 22,815 companies in sector 43211 we hold annual accounts for 10,325. 7,705 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded20-05-2016
Fiscal year end30-06
Activities, NACEBEL 2025
43211General electrical installation work
33140Repair and maintenance of electrical equipment
33200Installation of industrial machinery and equipment
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
Scores and ratios are computed by Checked and are not a credit decision.