CTN GROUP
Open bankruptcyA bankruptcy procedure is open for CTN GROUP according to publications in the Belgian State Gazette; curator: Catherine HERINCKX. The file additionally contains 1 administrative flag. The 2023 annual accounts show equity of €25k and a net result of €-43k.
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 31-12-2023 was due by 31-07-2024 and was filed on 29-09-2024, 60 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
60 d late
2022
266 d late
2021
83 d late
2020
442 d late
← before the deadline
after the deadline →
raises risk · 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 publicationsPublications
Address struck
Financials · fiscal year 2023, micro schema
Turnover
€907k▲ 144%
2021 · €372k
2021: €372k
2021 → 2022
EBIT margin
14.6%▼ 41.0pp
2021 · 55.6%
2021: 55.6%
2021 → 2022
Net result
€-43k▲ 1.6%
2022 · €-44k
2021: €111k
2022: €-44k
2021 → 2023
Working capital
€-15k
2022 · €15k
2021: €46k
2022: €15k
2021 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2020202120222023Trend
Turnover€372k€907k▲ 144%
Equity€2k-€112k▲ 7,390%€68k▼ 39.3%€25k▼ 63.0%
Operating result€207k€132k▼ 36.0%€-41k
Net result€111k€-44k€-43k▲ 1.6%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €41k after €132k in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €228k
Fixed assets
€40k▼ 24.4%
Current assets
€188k▲ 12.5%
Equity and liabilities €228k
Equity
€25k▼ 63.0%
Debt
€203k▲ 33.4%
The debt ratio rises from 69.0% to 88.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-27k▼
2022 · €146k
Cash flow
€-29k▲
2022 · €-30k
Solvency
11.1%▼
2022 · 31.0%
Current ratio
0.92▼
2022 · 1.10
Quick ratio
0.90▼
2022 · 1.07
Debt / equity
8.03▲
2022 · 2.23
ROE
-170.0%▼
2022 · -64.0%
ROA
-18.8%▲
2022 · -19.8%
Interest coverage
-18.06▼
2022 · 0.96
Debt
€203k▲
2022 · €152k
Debt ≤ 1 year
€203k▲
2022 · €152k
Staff costs
€124k▲
2022 · €105k
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€220k€228k▲
Fixed assets21/28€54k€40k▼
Tangible fixed assets22/27€54k€40k▼
Plant, machinery and equipment23€11k€19k▲
Furniture and vehicles24€22k€5k▼
Other tangible fixed assets26€21k€17k▼
Current assets29/58€167k€188k▲
Stocks and contracts in progress3€4k€4k▼
Stocks30/36€4k€4k▼
Amounts receivable within one year40/41€122k€88k▼
Trade receivables40-€14k
Other amounts receivable41€122k€74k▼
Cash at bank and in hand54/58€40k€94k▲
Deferred charges and accrued income490/1-€1k
Equity and liabilities
Total equity and liabilities10/49€220k€228k▲
Equity10/15€68k€25k▼
Contributions10/11€2k€2k=
Capital10€2k-
Issued capital100€2k-
Profit (loss) carried forward14€67k€24k▼
Amounts payable17/49€152k€203k▲
Amounts payable within one year42/48€152k€203k▲
Trade debts44€105k€145k▲
Suppliers440/4€105k€145k▲
Taxes, remuneration and social security45€47k€58k▲
Taxes450/3€47k€47k=
Remuneration and social security454/9-€11k
Income statement
Code20222023
Turnover70€907k-
Non-recurring operating income76A€907k-
Goods, raw materials, services and sundry goods60/61€652k-
Remuneration, social security and pensions62€105k€124k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€14k▲
Other operating charges640/8€4k€2k▼
Gross operating margin9900€255k€99k▼
Operating profit (loss)9901€132k€-41k▼
Financial income75/76B-€1
Recurring financial income75-€1
Financial charges65/66B€151k€2k▼
Recurring financial charges65€151k€2k▼
Profit (loss) for the period before taxes9903€-19k€-43k▼
Income taxes67/77€24k-
Profit (loss) for the period9904€-44k€-43k▲
Profit (loss) for the period to be appropriated9905€-44k€-43k▲
Appropriation of the result
Profit (loss) to be appropriated9906€67k€24k▼
Profit (loss) brought forward from the previous period14P€110k€67k▼
Social balance
Average headcount (FTE)90878.0-
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
22-09
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · SRL CTN GROUP BOULEVARD DE L’EMPEREUR 10, 1000 BRUXELLES · event 15-09-2025
13-06
KBO administration
Address struck
2024
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 60 days late
22-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 266 days late
2022
31-12
Financial
Weakest financial yearnet €-44k ▼139%
Net result drops to €-44k, the lowest in the series.
22-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 83 days late
16-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 442 days late
2021
31-12
Financial
Equity above €100kEq €112k ▲7390%
Equity rises from €2k to €112k.
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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
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.
Ground area
670 m²
Building footprint
488 m²
Volume, LiDAR
11,099 m³
Parcel 21808H1778/00D000, Brussels · tallest building 27.7 m, ±8 floors. Linked by address, not a title deed.
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21808H1778/00D000 | Brussels | 670 m² | 1 · 488 m² | 27.7 m · 8 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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 | Catherine HERINCKX AVENUE DU CONGO 1,
1050 IXELLES |
15-09-2025 → present |
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-05-2019
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.