CUSTOM JET SOLUTIONS

Open bankruptcy

Private limited companyfounded 2011Moorstraat 36, 8793 Waregem, BelgiumKBO/BCE: BE 0841.019.890

A bankruptcy procedure is open for CUSTOM JET SOLUTIONS according to publications in the Belgian State Gazette; curator: Yves FRANCOIS. The file additionally contains 1 judicial reorganisation. The 2022 annual accounts show equity of €8k and a net result of €-173k.

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Signals

Three signals.

+raises risk○neutral

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

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

Belgian State Gazette

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2022, abbreviated schema

Equity

€8k▼ 95.5%

2021 · €181k

2019: €136k 2020: €153k 2021: €181k

2019 → 2022

Total assets

€2.02M▼ 15.5%

2021 · €2.39M

2019: €1.23M 2020: €1.67M 2021: €2.39M

2019 → 2022

Net result

€-173k

2021 · €28k

2019: €37k 2020: €18k 2021: €28k

2019 → 2022

Working capital

€-171k▲ 67.7%

2021 · €-528k

2019: €-224k 2020: €-272k 2021: €-528k

2019 → 2022

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2019202020212022Trend

Equity€136k-€153k▲ 13.0%€181k▲ 18.0%€8k▼ 95.5%

Operating result€73k-€39k▼ 46.7%€74k▲ 91.3%€-124k

Net result€37k-€18k▼ 52.2%€28k▲ 56.8%€-173k

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 turns negative in 2022: a loss of €124k after €74k in 2021, the lowest result in the available series.

Balance-sheet composition

2022 in colour, 2021 as the grey bar beneath

Assets €2.02M

64.2%

35.8%

Fixed assets €1.30M▼ 18.7%

Current assets €723k▼ 9.0%

Equity and liabilities €2.02M

99.6%

Equity €8k▼ 95.5%

Debt €2.01M▼ 8.9%

The debt ratio rises from 92.4% to 99.6%. Equity and debt are lower.

Key figures and ratios

2022 value · change against 2021

EBITDA

€-66k▼

2021 · €165k

Cash flow

€-114k▼

2021 · €118k

Solvency

0.4%▼

2021 · 7.6%

Current ratio

0.81▲

2021 · 0.60

Quick ratio

0.81▲

2021 · 0.60

ROA

-8.5%▼

2021 · 1.2%

Interest coverage

-1.37▼

2021 · 8.02

Debt

€2.01M▼

2021 · €2.21M

Debt ≤ 1 year

€893k▼

2021 · €1.32M

Debt > 1 year

€1.02M▲

2021 · €888k

Income taxes

€889▼

2021 · €26k

Staff costs

€53k▲

2021 · €50k

A ratio outside any meaningful range has been withheld (balance sheet total €2.02M, equity €8k).

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 · 2022 against 2021

Balance sheet Code20212022

Assets

Total assets20/58€2.39M€2.02M▼

Fixed assets21/28€1.60M€1.30M▼

Tangible fixed assets22/27€1.25M€951k▼

Land and buildings22€1.16M€864k▼

Plant, machinery and equipment23€12k€12k▲

Furniture and vehicles24€74k€74k▼

Financial fixed assets28€346k€348k▲

Current assets29/58€795k€723k▼

Amounts receivable within one year40/41€728k€705k▼

Trade receivables40€684k€616k▼

Other amounts receivable41€44k€89k▲

Current investments50/53-€7k

Cash at bank and in hand54/58€60k€10k▼

Deferred charges and accrued income490/1€6k-

Equity and liabilities

Total equity and liabilities10/49€2.39M€2.02M▼

Equity10/15€181k€8k▼

Contributions10/11€19k€19k=

Reserves13€162k€2k▼

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311-€2k

Other1319€2k-

Distributable reserves133€160k-

Profit (loss) carried forward14-€-12k

Amounts payable17/49€2.21M€2.01M▼

Amounts payable after more than one year17€888k€1.02M▲

Financial debts170/4€838k€836k▼

Other amounts payable178/9€50k€182k▲

Amounts payable within one year42/48€1.32M€893k▼

Current portion of amounts payable after more than one year42€94k€73k▼

Financial debts43€106k€57k▼

Credit institutions430/8€106k€57k▼

Trade debts44€596k€408k▼

Suppliers440/4€596k€408k▼

Advances received on contracts in progress46-€122k

Taxes, remuneration and social security45€14k€12k▼

Taxes450/3€10k€12k▲

Remuneration and social security454/9€4k-

Other amounts payable47/48€512k€221k▼

Accrued charges and deferred income492/3-€101k

Income statement Code20212022

Non-recurring operating income76A-€151k

Remuneration, social security and pensions62€50k€53k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€91k€58k▼

Other operating charges640/8€17k€17k▼

Non-recurring operating charges66A-€14k

Gross operating margin9900€232k€18k▼

Operating profit (loss)9901€74k€-124k▼

Financial income75/76B€12€55▲

Recurring financial income75€12€55▲

Financial charges65/66B€21k€48k▲

Recurring financial charges65€21k€48k▲

Profit (loss) for the period before taxes9903€54k€-172k▼

Income taxes67/77€26k€889▼

Profit (loss) for the period9904€28k€-173k▼

Profit (loss) for the period to be appropriated9905€28k€-173k▼

Appropriation of the result

Profit (loss) to be appropriated9906€28k€-173k▼

Transfer from equity791/2-€160k

Transfer to equity691/2€28k-

To other reserves6921€28k-

Social balance

Average headcount (FTE)90871.40.8▼

The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Signals 2Financial 2Filings 9

2024

26-02

Bankruptcy Opening

Ondernemingsrechtbank Gent, afdeling Kortrijk · CUSTOM JET SOLUTIONS BV MOORSTRAAT 36, 8793 WAREGEM · event 20-02-2024

2023

30-11

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 122 days late

29-09

Judicial reorganisation Opening

Ondernemingsrechtbank Gent · collectif · event 26-09-2023

2022

31-12

Financial Weakest financial yearnet €-173k ▼726%

Net result drops to €-173k, the lowest in the series.

13-05

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 102 days late

2021

29-01

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

30-06

Financial Equity above €150kEq €153k ▲13%

2 profitable years in a row build equity to €153k.

31-01

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

14-01

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

29-01

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2016

21-04

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

2015

23-04

NBB filing Annual accounts filed

fiscal year 2014 · abbreviated schema

2014

22-05

NBB filing Annual accounts filed

fiscal year 2013 · abbreviated schema

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

10 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, Waregem · 1 establishment unit since 2011

establishment The establishment unit on the map

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.

Moorstraat 368793 Waregem

Ground area

1,789 m²

Building footprint

273 m²

Volume, LiDAR

1,102 m³