CULI'S
Open bankruptcyA bankruptcy procedure is open for CULI'S according to publications in the Belgian State Gazette; curator: JORIS DE SMET.
Summary
The 2023 annual accounts show equity of €56k and a net result of €-37k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2023 was due by 31-10-2023 and was filed on 31-10-2023, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
on the day
2022
3 d late
2021
3 d late
2020
53 d early
2019
27 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, abbreviated schema
Equity
€56k▼ 39.4%
2022 · €93k
2019: €87k
2020: €20k▼ -77.1% vs 2019lowest in 5 years
2021: €66k▲ +232% vs 2020
2022: €93k▲ +40.6% vs 2021highest in 5 years
2023: €56k▼ -39.4% vs 2022
2019 → 2023
Total assets
€922k▲ 35.6%
2022 · €680k
2019: €834k
2020: €674k▼ -19.2% vs 2019
2021: €637k▼ -5.4% vs 2020lowest in 5 years
2022: €680k▲ +6.7% vs 2021
2023: €922k▲ +35.6% vs 2022highest in 5 years
2019 → 2023
Net result
€-37k
2022 · €27k
2019: €-3k
2020: €-67k▼ -2117% vs 2019lowest in 5 years
2021: €46k▲ +169% vs 2020highest in 5 years
2022: €27k▼ -41.8% vs 2021
2023: €-37k▼ -236% vs 2022
2019 → 2023
Working capital
€122k▼ 30.5%
2022 · €176k
2019: €27klowest in 5 years
2020: €38k▲ +39.1% vs 2019
2021: €148k▲ +290% vs 2020
2022: €176k▲ +18.6% vs 2021highest in 5 years
2023: €122k▼ -30.5% vs 2022
2019 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€87k-€20k▼ 77.1%€66k▲ 232%€93k▲ 40.6%€56k▼ 39.4%
2019: €87k
2020: €20k▼ -77.1% vs 2019lowest in 5 years
2021: €66k▲ +232% vs 2020
2022: €93k▲ +40.6% vs 2021highest in 5 years
2023: €56k▼ -39.4% vs 2022
Operating result€16k-€-50k€59k€43k▼ 26.9%€-18k
2019: €16k
2020: €-50k▼ -412% vs 2019lowest in 5 years
2021: €59k▲ +217% vs 2020highest in 5 years
2022: €43k▼ -26.9% vs 2021
2023: €-18k▼ -141% vs 2022
Net result€-3k-€-67k▼ 2,117%€46k€27k▼ 41.8%€-37k
2019: €-3k
2020: €-67k▼ -2117% vs 2019lowest in 5 years
2021: €46k▲ +169% vs 2020highest in 5 years
2022: €27k▼ -41.8% vs 2021
2023: €-37k▼ -236% vs 2022
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €18k after €43k in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €922k
Fixed assets
€610k ▲ 94.4%
Current assets
€313k ▼ 14.7%
Equity and liabilities €922k
Equity
€56k ▼ 39.4%
Debt
€866k ▲ 47.4%
Debt's share of the balance-sheet total rises from 86.4% to 93.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€59k▼
2022 · €94k
Cash flow
€40k▼
2022 · €78k
Current ratio
1.64▼
2022 · 1.92
Quick ratio
0.65▼
2022 · 1.11
Debt to equity
15.43▲
2022 · 6.34
ROE
-65.0%▼
2022 · 28.9%
ROA
-4.0%▼
2022 · 3.9%
Interest coverage
3.15▼
2022 · 5.78
Debt ≤ 1 year
€190k▼
2022 · €190k
Debt > 1 year
€591k▲
2022 · €317k
Staff costs
€412k▲
2022 · €381k
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 · 49 lines
Balance sheet
Code20222023
Assets
Total assets20/58€680k€922k▲
Fixed assets21/28€314k€610k▲
Intangible fixed assets21€587€443▼
Tangible fixed assets22/27€311k€607k▲
Land and buildings22€129k€120k▼
Plant, machinery and equipment23€176k€483k▲
Furniture and vehicles24€6k€4k▼
Financial fixed assets28€2k€2k=
Current assets29/58€367k€313k▼
Stocks and contracts in progress3€156k€190k▲
Stocks30/36€156k€190k▲
Amounts receivable within one year40/41€68k€76k▲
Trade receivables40€2k€9k▲
Other amounts receivable41€65k€68k▲
Cash at bank and in hand54/58€142k€45k▼
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€680k€922k▲
Equity10/15€93k€56k▼
Contributions10/11€490k€490k=
Capital10€490k€490k=
Issued capital100€490k€490k=
Profit (loss) carried forward14€-397k€-434k▼
Amounts payable17/49€588k€866k▲
Amounts payable after more than one year17€317k€591k▲
Financial debts170/4€317k€591k▲
Amounts payable within one year42/48€190k€190k▼
Current portion of amounts payable after more than one year42€24k€46k▲
Trade debts44€129k€109k▼
Suppliers440/4€129k€109k▼
Taxes, remuneration and social security45€37k€35k▼
Taxes450/3-€2k
Remuneration and social security454/9€37k€33k▼
Accrued charges and deferred income492/3€80k€85k▲
Income statement
Code20222023
Remuneration, social security and pensions62€381k€412k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€51k€77k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€3k€1k▼
Gross operating margin9900€478k€473k▼
Operating profit (loss)9901€43k€-18k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€16k€19k▲
Recurring financial charges65€16k€19k▲
Profit (loss) for the period before taxes9903€27k€-37k▼
Profit (loss) for the period9904€27k€-37k▼
Profit (loss) for the period to be appropriated9905€27k€-37k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-397k€-434k▼
Profit (loss) brought forward from the previous period14P€-424k€-397k▲
Social balance
Average headcount (FTE)908711.010.9▼
The notes to these accounts (15 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €381k | €412k | ▲ 8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €132k | €123k | €96k | €51k | €77k | ▲ 51.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - |
| Other operating charges640/8 | - | - | - | €3k | €1k | ▼ 44.3% |
| Gross operating margin9900 | €603k | €550k | €547k | €478k | €473k | ▼ 1.0% |
| Operating profit (loss)9901 | €16k | €-50k | €59k | €43k | €-18k | ▼ 141% |
| Financial income75/76B | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | €406 | €0 | - | - |
| Financial charges65/66B | - | - | - | €16k | €19k | ▲ 15.4% |
| Recurring financial charges65 | €19k | €17k | €13k | €16k | €19k | ▲ 15.4% |
| Profit (loss) for the period before taxes9903 | €-3k | €-67k | €46k | €27k | €-37k | ▼ 236% |
| Income taxes67/77 | €237 | €3 | €0 | - | - | - |
| Profit (loss) for the period9904 | €-3k | €-67k | €46k | €27k | €-37k | ▼ 236% |
| Profit (loss) for the period to be appropriated9905 | €-3k | €-67k | €46k | €27k | €-37k | ▼ 236% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €834k | €674k | €637k | €680k | €922k | ▲ 35.6% |
| Formation expenses20 | €25k | €12k | €0 | - | - | - |
| Fixed assets21/28 | €524k | €413k | €334k | €314k | €610k | ▲ 94.4% |
| Intangible fixed assets21 | - | - | - | €587 | €443 | ▼ 24.6% |
| Tangible fixed assets22/27 | €521k | €411k | €332k | €311k | €607k | ▲ 95.3% |
| Land and buildings22 | - | - | - | €129k | €120k | ▼ 6.7% |
| Plant, machinery and equipment23 | - | - | - | €176k | €483k | ▲ 174% |
| Furniture and vehicles24 | - | - | - | €6k | €4k | ▼ 26.3% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €285k | €248k | €303k | €367k | €313k | ▼ 14.7% |
| Stocks and contracts in progress3 | €145k | €143k | €157k | €156k | €190k | ▲ 21.7% |
| Stocks30/36 | - | - | - | €156k | €190k | ▲ 21.7% |
| Amounts receivable within one year40/41 | €80k | €63k | €57k | €68k | €76k | ▲ 12.9% |
| Trade receivables40 | - | - | - | €2k | €9k | ▲ 296% |
| Other amounts receivable41 | - | - | - | €65k | €68k | ▲ 3.3% |
| Cash at bank and in hand54/58 | €61k | €42k | €88k | €142k | €45k | ▼ 68.4% |
| Deferred charges and accrued income490/1 | - | - | - | €1k | €2k | ▲ 40.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €834k | €674k | €637k | €680k | €922k | ▲ 35.6% |
| Equity10/15 | €87k | €20k | €66k | €93k | €56k | ▼ 39.4% |
| Contributions10/11 | €490k | €490k | €490k | €490k | €490k | = |
| Capital10 | - | - | - | €490k | €490k | = |
| Issued capital100 | - | - | - | €490k | €490k | = |
| Profit (loss) carried forward14 | €-403k | €-470k | €-424k | €-397k | €-434k | ▼ 9.2% |
| Amounts payable17/49 | €747k | €654k | €572k | €588k | €866k | ▲ 47.4% |
| Amounts payable after more than one year17 | €425k | €372k | €341k | €317k | €591k | ▲ 86.6% |
| Financial debts170/4 | - | - | - | €317k | €591k | ▲ 86.6% |
| Amounts payable within one year42/48 | €258k | €210k | €155k | €190k | €190k | ▼ 0.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €24k | €46k | ▲ 91.5% |
| Trade debts44 | €107k | €86k | €69k | €129k | €109k | ▼ 15.2% |
| Suppliers440/4 | - | - | - | €129k | €109k | ▼ 15.2% |
| Taxes, remuneration and social security45 | - | - | - | €37k | €35k | ▼ 6.7% |
| Taxes450/3 | - | - | - | - | €2k | - |
| Remuneration and social security454/9 | - | - | - | €37k | €33k | ▼ 13.0% |
| Accrued charges and deferred income492/3 | - | - | - | €80k | €85k | ▲ 5.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3k | €-67k | €46k | €27k | €-37k | ▼ 236% |
| + Depreciation and write-downs630 | €132k | €123k | €96k | €51k | €77k | ▲ 51.0% |
| Operating cash flow (approximation) | €129k | €56k | €142k | €78k | €40k | ▼ 48.0% |
| Investment in fixed assets (approximation) | - | €-12k | €-17k | €-30k | €-373k | ▼ 1,124% |
| Change in cash | - | €-19k | €46k | €53k | €-97k | ▼ 282% |
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
2024
09-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oudenaarde · event 03-12-2024
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 3 days late
31-03
Financial
Back to profitnet €46k
Net result €46k after 2 loss-making years.
2020
08-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Weakest financial yearnet €-67k
Net result drops to €-67k, the lowest in the series.
2019
04-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
29-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
21-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
19-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
05-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
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, Zottegem · 1 establishment unit since 2005
Ground area
1,681 m²
Building footprint
178 m²
Volume, LiDAR
2,027 m³
Parcel 41081A0059/00S000, Flanders · tallest building 16.8 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
CULI'S
since 20052.146.963.158
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41081A0059/00S000 | Flanders | 1,681 m² | 1 · 178 m² | 16.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JORIS DE SMET BRUUL 27, 9630 ZWALM- |
03-12-2024 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 540 EUR awarded · 540 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 540 EUR | 540 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,851. 4,650 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded17-02-2005
Fiscal year end31-03
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Contact
E-mail
caveca@skynet.beZottegem
Phone
0475.71.31.62Zottegem
Scores and ratios are computed by Checked and are not a credit decision.