DESCAR
Open bankruptcyA bankruptcy procedure is open for DESCAR according to publications in the Belgian State Gazette. The 2023 annual accounts show equity of €1.43M and a net result of €71k.
Signals
Four 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 31-12-2023 was due by 31-07-2024 and was filed on 16-07-2024, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
15 d early
2022
19 d early
2021
18 d early
2020
11 d early
2019
67 d late
← before the deadline
after the deadline →
Financials · fiscal year 2023, abbreviated schema
Equity
€1.43M▲ 5.2%
2022 · €1.36M
2018: €2.12M
2019: €1.94M
2020: €1.76M
2021: €1.59M
2022: €1.36M
2018 → 2023
Total assets
€1.83M▼ 10.6%
2022 · €2.05M
2018: €2.90M
2019: €2.51M
2020: €2.43M
2021: €2.22M
2022: €2.05M
2018 → 2023
Net result
€71k▲ 168%
2022 · €27k
2018: €2k
2019: €152k
2020: €152k
2021: €167k
2022: €27k
2018 → 2023
Working capital
€-116k▲ 66.8%
2022 · €-348k
2018: €-731k
2019: €-304k
2020: €-163k
2021: €-207k
2022: €-348k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€1.94M-€1.76M▼ 9.4%€1.59M▼ 9.5%€1.36M▼ 14.5%€1.43M▲ 5.2%
Operating result€145k-€153k▲ 5.5%€172k▲ 12.3%€19k▼ 88.9%€33k▲ 74.6%
Net result€152k-€152k▲ 0.1%€167k▲ 10.1%€27k▼ 84.1%€71k▲ 168%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2023; 2023 is 75% above 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €1.83M
Fixed assets
€1.55M▼ 9.5%
Current assets
€286k▼ 16.0%
Equity and liabilities €1.83M
Equity
€1.43M▲ 5.2%
Debt
€401k▼ 41.7%
The debt ratio falls from 33.6% to 21.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39k▲
2022 · €25k
Cash flow
€77k▲
2022 · €33k
Solvency
78.1%▲
2022 · 66.4%
Current ratio
0.71▲
2022 · 0.49
Quick ratio
0.71▲
2022 · 0.49
Debt / equity
0.28▼
2022 · 0.51
ROE
5.0%▲
2022 · 2.0%
ROA
3.9%▲
2022 · 1.3%
Interest coverage
7.45▼
2022 · 16.25
Debt
€401k▼
2022 · €689k
Debt ≤ 1 year
€401k▼
2022 · €689k
Income taxes
€33k▲
2022 · €17k
Staff costs
€1.22M▼
2022 · €1.37M
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€2.05M€1.83M▼
Fixed assets21/28€1.71M€1.55M▼
Tangible fixed assets22/27€28k€22k▼
Furniture and vehicles24€5k€3k▼
Other tangible fixed assets26€23k€19k▼
Financial fixed assets28€1.68M€1.52M▼
Current assets29/58€340k€286k▼
Amounts receivable within one year40/41€245k€143k▼
Trade receivables40€245k€104k▼
Other amounts receivable41€0€39k▲
Cash at bank and in hand54/58€95k€137k▲
Deferred charges and accrued income490/1-€6k
Equity and liabilities
Total equity and liabilities10/49€2.05M€1.83M▼
Equity10/15€1.36M€1.43M▲
Contributions10/11€248k€248k=
Capital10€248k€248k=
Issued capital100€248k€248k=
Reserves13€931k€931k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Tax-exempt reserves132€906k€906k=
Profit (loss) carried forward14€181k€252k▲
Amounts payable17/49€689k€401k▼
Amounts payable within one year42/48€689k€401k▼
Financial debts43€163k€139k▼
Credit institutions430/8€163k€139k▼
Trade debts44€64k€78k▲
Suppliers440/4€64k€78k▲
Taxes, remuneration and social security45€204k€184k▼
Taxes450/3€76k€73k▼
Remuneration and social security454/9€128k€112k▼
Other amounts payable47/48€258k€0▼
Income statement
Code20222023
Remuneration, social security and pensions62€1.37M€1.22M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€0-
Other operating charges640/8€2k€3k▲
Non-recurring operating charges66A€24k€13k▼
Gross operating margin9900€1.42M€1.27M▼
Operating profit (loss)9901€19k€33k▲
Financial income75/76B€26k€76k▲
Recurring financial income75€26k€76k▲
Financial charges65/66B€2k€5k▲
Recurring financial charges65€2k€5k▲
Profit (loss) for the period before taxes9903€43k€104k▲
Income taxes67/77€17k€33k▲
Profit (loss) for the period9904€27k€71k▲
Profit (loss) for the period to be appropriated9905€27k€71k▲
Appropriation of the result
Profit (loss) to be appropriated9906€439k€252k▼
Profit (loss) brought forward from the previous period14P€413k€181k▼
Profit to be distributed694/7€258k€0▼
Return on contributions (dividend)694€258k€0▼
Directors or managers695€0-
Social balance
Average headcount (FTE)908726.523.3▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
27-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · DESCAR NV VENETIELAAN 26, 8530 HARELBEKE · event 21-10-2025
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €167k ▲10.1%
Operating result €172k, net result €167k, both a record.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 67 days late
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
20-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
24-07
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
13 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, Harelbeke · 1 establishment unit since 1947
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.
Venetiëlaan 268530 HarelbekeGround area
2,220 m²
Building footprint
1,214 m²
Parcel 34322B0680/00R000, Flanders. Linked by address, not a title deed.
1 establishment unit
Venetiëlaan 26, 8530 Harelbeke
since 19472.036.359.503
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34322B0680/00R000 | Flanders | 2,220 m² | 1 · 1,214 m² | - |
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
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | GUY DELABIE ENGELSE WANDELING 74,
8510 MARKE |
21-10-2025 → present |
| Curator | ELLEN DE GEETER DOORNIK-
SEWIJK 134, 8500 KORTRIJK |
21-10-2025 → present |
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Of 189 companies in sector 17210 we hold annual accounts for 154. 107 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded16-11-1947
Fiscal year end31-12
Activities, NACEBEL
17210Manufacture of paper and paper products
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.