Early Birds Art Group
Open bankruptcyA bankruptcy procedure is open for Early Birds Art Group according to publications in the Belgian State Gazette; curator: JOHAN MERMUYS. The 2023 annual accounts show equity of €280 and a net result of €-89k.
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 26-07-2024, 5 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
5 d early
2022
11 d early
2021
58 d early
← before the deadline
after the deadline →
Financials · fiscal year 2023, abbreviated schema
Equity
€280▼ 99.0%
2022 · €30k
2021: €36k
2022: €30k
2021 → 2023
Total assets
€154k▲ 14.6%
2022 · €134k
2021: €92k
2022: €134k
2021 → 2023
Net result
€-89k▼ 1,287%
2022 · €-6k
2021: €38k
2022: €-6k
2021 → 2023
Working capital
€35k▲ 8.3%
2022 · €33k
2021: €8k
2022: €33k
2021 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222023Trend
Equity€36k-€30k▼ 17.9%€280▼ 99.0%
Operating result€42k-€-3k€-86k▼ 2,976%
Net result€38k-€-6k€-89k▼ 1,287%
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 stays negative: a loss of €86k in 2023 against €3k in 2022; the loss grows and 2023 has the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €154k
Fixed assets
€23k▼ 30.3%
Current assets
€130k▲ 29.7%
Equity and liabilities €154k
Equity
€280▼ 99.0%
Debt
€153k▲ 46.7%
The debt ratio rises from 78.0% to 99.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-70k▼
2022 · €11k
Cash flow
€-73k▼
2022 · €7k
Solvency
0.2%▼
2022 · 22.0%
Current ratio
1.37▼
2022 · 1.48
Quick ratio
1.37▼
2022 · 1.48
ROA
-58.1%▼
2022 · -4.8%
Interest coverage
-20.38▼
2022 · 2.90
Debt
€153k▲
2022 · €105k
Debt ≤ 1 year
€95k▲
2022 · €68k
Debt > 1 year
€58k▲
2022 · €37k
Income taxes
€0▲
2022 · €-28
Staff costs
€19k▼
2022 · €37k
Equity ratios withheld: equity of €280 is too small for a meaningful ratio.
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€134k€154k▲
Fixed assets21/28€34k€23k▼
Intangible fixed assets21€20k€8k▼
Tangible fixed assets22/27€12k€12k▼
Plant, machinery and equipment23€2k€3k▲
Furniture and vehicles24€0€1k▲
Other tangible fixed assets26€10k€7k▼
Financial fixed assets28€1k€4k▲
Current assets29/58€100k€130k▲
Amounts receivable within one year40/41€46k€41k▼
Trade receivables40€41k€39k▼
Other amounts receivable41€4k€2k▼
Cash at bank and in hand54/58€53k€74k▲
Deferred charges and accrued income490/1€2k€15k▲
Equity and liabilities
Total equity and liabilities10/49€134k€154k▲
Equity10/15€30k€280▼
Contributions10/11€20k€80k▲
Reserves13€16k€16k=
Distributable reserves133€16k€16k=
Profit (loss) carried forward14€-6k€-96k▼
Amounts payable17/49€105k€153k▲
Amounts payable after more than one year17€37k€58k▲
Financial debts170/4€37k€58k▲
Amounts payable within one year42/48€68k€95k▲
Current portion of amounts payable after more than one year42€8k€28k▲
Financial debts43-€1k
Credit institutions430/8-€1k
Trade debts44€29k€63k▲
Suppliers440/4€29k€63k▲
Taxes, remuneration and social security45€16k€3k▼
Taxes450/3€16k€3k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€14k€0▼
Income statement
Code20222023
Non-recurring operating income76A-€14k
Remuneration, social security and pensions62€37k€19k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€16k▲
Other operating charges640/8€2k€1k▼
Non-recurring operating charges66A€1k€0▼
Gross operating margin9900€51k€-49k▼
Operating profit (loss)9901€-3k€-86k▼
Financial income75/76B€83€11▼
Recurring financial income75€83€11▼
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€-6k€-89k▼
Income taxes67/77€-28€0▲
Profit (loss) for the period9904€-6k€-89k▼
Profit (loss) for the period to be appropriated9905€-6k€-89k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-6k€-96k▼
Profit (loss) brought forward from the previous period14P-€-6k
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Directors or managers695€0-
Social balance
Average headcount (FTE)90870.90.4▼
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-09
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · EARLY BIRDS ART GROUP BV ZEEDIJK-HET ZOUTE 713, 8300 KNOKKE-HEIST · event 28-08-2025
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-89k
Net result drops to €-89k, the lowest in the series.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Knokke-Heist · 1 establishment unit since 2021
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.
Zeedijk-Het Zoute 7138300 Knokke-HeistGround area
404 m²
Building footprint
366 m²
Volume, LiDAR
6,575 m³
Parcel 31332E0089/00A000, Flanders · tallest building 26.0 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
EARLY BIRDS ARTS
since 20212.314.044.371
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31332E0089/00A000indicative | Flanders | 403 m² | 1 · 366 m² | 26.0 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 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 | JOHAN MERMUYS DORPSSTRAAT 76 BUS 3,
8490 JABBEKE |
28-08-2025 → present |
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 9,000 EUR awarded · 9,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 9,000 EUR | 9,000 EUR |
Schemes
Subsidies voor internationaal ondernemen
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Of 1,435 companies in sector 47791 we hold annual accounts for 455. 13 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-02-2021
Fiscal year end31-12
Activities, NACEBEL
47791Retail sale of antiques
90021Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.