EDUCINVEST
Open bankruptcyA bankruptcy procedure is open for EDUCINVEST according to publications in the Belgian State Gazette; curator: EMILIE MICHEL.
Summary
The 2018 annual accounts show equity of €1.6m and a net result of €747,293.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Declared bankrupt
- 9 June 2020
- Supervising judge
- Paul Vanderhoeven
- Official Gazette
- 15-06-2020 (pdf) ↗search the document for 2020/120810
Deadlines
- Appeal or third-party opposition until
- passed on 30 June 2020Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 9 July 2020art. XX.104 and XX.155 CEL
- First verification report
- passed on 15 July 2020Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- passed on 9 June 2021Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Emilie MichelAvenue De Fre 229, 1180 02 Uccleemilie.michel@kairos.law
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Three 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 30-06-2018 was due by 31-01-2019 and was filed on 28-02-2019, 28 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 · 9 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Other professional, scientific and technical activities sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2018, full schema
Turnover
€14.6m▲ 0.2%
2017 · €14.6m
EBIT margin
-4.7%▼ 5.4pp
2017 · 0.8%
Net result
€747,293▼ 38.4%
2017 · €1.2m
Working capital
€14.6m▲ 0.5%
2017 · €14.5m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20142015201620172018
Turnover€19.9m-€18.8m▼ 5.6%€15.5m▼ 17.6%€14.6m▼ 6.0%€14.6m▲ 0.2%
Operating result-€235,912-€1.9m-€4.7m€115,204-€678,661
Net result-€140,953-€1.9m-€5.5m€1.2m€747,293▼ 38.4%
EBIT margin-1.2%-10.2%▲ 11.3pp-30.4%▼ 40.5pp0.8%▲ 31.1pp-4.7%▼ 5.4pp
Equity€15.8m-€17.8m▲ 12.3%-€357,196€855,617€1.6m▲ 87.3%
Total assets€47.1m-€55.1m▲ 16.8%€39.6m▼ 28.0%€36.1m▼ 9.0%€35.5m▼ 1.5%
Debt€30.1m-€35.4m▲ 17.6%€38.4m▲ 8.2%€34.6m▼ 9.8%€33.2m▼ 4.1%
Working capital€27.6m-€32.6m▲ 18.0%€12.5m▼ 61.6%€14.5m▲ 16.1%€14.6m▲ 0.5%
Staff (FTE)6.2-4.2▼ 32.3%4.2=7.4▲ 76.2%10.2▲ 37.8%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2018: a loss of €678,661 after €115,204 in 2017.
Balance-sheet composition
2018 in colour, 2017 as the grey bar beneath
Assets €35.5m
Fixed assets
€12.3m ▼ 9.1%
Current assets
€23.2m ▲ 3.0%
Equity and liabilities €35.5m
Equity
€1.6m ▲ 87.3%
Provisions
€758,409 ▲ 16.7%
Debt
€33.2m ▼ 4.1%
Debt's share of the balance-sheet total falls from 95.8% to 93.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.0m▼
2017 · €1.8m
Cash flow
€2.4m▼
2017 · €2.9m
Current ratio
2.69▼
2017 · 2.81
Debt to equity
15.29▼
2017 · 31.05
ROE
46.6%▼
2017 · 141.7%
ROA
2.1%▼
2017 · 3.4%
Interest coverage
1.87▼
2017 · 43.76
Debt ≤ 1 year
€8.6m▲
2017 · €8.0m
Debt > 1 year
€24.5m▼
2017 · €26.6m
Income taxes
-€1,226▲
2017 · -€999,999
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2014 | 2015 | 2016 | 2017 | 2018 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €19.9m | €18.8m | €15.5m | €14.6m | €14.6m | ▲ 0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | ▲ 0.2% |
| Operating profit (loss)9901 | -€235,912 | €1.9m | -€4.7m | €115,204 | -€678,661 | ▼ 689% |
| Recurring financial income75 | €280,313 | €599,908 | €97,002 | €232,751 | €2.0m | ▲ 762% |
| Recurring financial charges65 | €184,724 | €349,253 | €431,374 | €135,142 | €582,070 | ▲ 331% |
| Debt charges650 | €165,390 | €344,594 | €423,677 | €41,425 | €545,633 | ▲ 1,217% |
| Profit (loss) for the period before taxes9903 | -€140,952 | €2.1m | -€5.0m | €212,813 | €746,067 | ▲ 251% |
| Income taxes67/77 | €1 | €171,985 | €500,002 | -€999,999 | -€1,226 | ▲ 99.9% |
| Profit (loss) for the period9904 | -€140,953 | €1.9m | -€5.5m | €1.2m | €747,293 | ▼ 38.4% |
| Profit (loss) for the period to be appropriated9905 | -€140,953 | €1.9m | -€5.5m | €1.2m | €747,293 | ▼ 38.4% |
| Line | 2014 | 2015 | 2016 | 2017 | 2018 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €47.1m | €55.1m | €39.6m | €36.1m | €35.5m | ▼ 1.5% |
| Fixed assets21/28 | €7.6m | €6.7m | €15.2m | €13.6m | €12.3m | ▼ 9.1% |
| Intangible fixed assets21 | €7.5m | €5.8m | €4.1m | €2.5m | €837,428 | ▼ 66.4% |
| Tangible fixed assets22/27 | €79,661 | €838,780 | €819,983 | €812,221 | €832,202 | ▲ 2.5% |
| Financial fixed assets28 | €31,950 | €34,150 | €10.2m | €10.3m | €10.7m | ▲ 3.9% |
| Current assets29/58 | €39.5m | €48.4m | €24.5m | €22.5m | €23.2m | ▲ 3.0% |
| Amounts receivable within one year40/41 | €26.6m | €34.8m | €22.8m | €5.3m | €5.4m | ▲ 2.0% |
| Cash at bank and in hand54/58 | €30,648 | €55,673 | €54,925 | €96,517 | €590,028 | ▲ 511% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €47.1m | €55.1m | €39.6m | €36.1m | €35.5m | ▼ 1.5% |
| Equity10/15 | €15.8m | €17.8m | -€357,196 | €855,617 | €1.6m | ▲ 87.3% |
| Contributions10/11 | €16.5m | €16.5m | €16.5m | €16.5m | €16.5m | = |
| Reserves13 | €66,928 | €164,328 | €66,928 | €66,928 | €66,928 | = |
| Profit (loss) carried forward14 | -€687,949 | €1.2m | -€16.9m | -€15.7m | -€14.9m | ▲ 4.8% |
| Provisions and deferred taxes16 | €1.2m | €1.9m | €1.7m | €650,000 | €758,409 | ▲ 16.7% |
| Amounts payable17/49 | €30.1m | €35.4m | €38.4m | €34.6m | €33.2m | ▼ 4.1% |
| Amounts payable after more than one year17 | €18.2m | €19.6m | €26.4m | €26.6m | €24.5m | ▼ 7.7% |
| Amounts payable within one year42/48 | €11.9m | €15.9m | €12.0m | €8.0m | €8.6m | ▲ 7.7% |
| Trade debts44 | €5.0m | €7.5m | €7.0m | €1.7m | €4.0m | ▲ 141% |
| Line | 2014 | 2015 | 2016 | 2017 | 2018 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€140,953 | €1.9m | -€5.5m | €1.2m | €747,293 | ▼ 38.4% |
| + Depreciation and write-downs630 | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | ▲ 0.2% |
| Operating cash flow (approximation) | €1.6m | €3.7m | -€3.8m | €2.9m | €2.4m | ▼ 15.9% |
| Investment in fixed assets (approximation) | - | -€812,563 | -€10.2m | -€68,647 | -€471,487 | ▼ 587% |
| Change in cash | - | €25,026 | -€748 | €41,592 | €493,511 | ▲ 1,087% |
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
2020
15-06
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 09-06-2020
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 303 days late
30-06
Financial
Equity above €1mEq €1.6m ▲87.3%
2 profitable years in a row build equity to €1.6m.
2017
28-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 301 days late
30-06
Financial
Back to profitnet €1.2m
Net result €1.2m after one loss-making year.
30-06
Financial
Equity above €500,000Eq €855,617
Equity rises from -€357,196 to €855,617.
2016
30-06
Financial
Weakest financial yearnet -€5.5m
Net result drops to -€5.5m, the lowest in the series.
23-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 113 days late
17-05
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 472 days late
19-03
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 778 days late
2015
30-06
Financial
Back to profitnet €1.9m
Net result €1.9m after one loss-making year.
Show earlier events
2014
06-01
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 340 days late
2012
07-03
NBB filing
Annual accounts filed
fiscal year 2010 · full schema · 220 days late
2010
05-10
NBB filing
Annual accounts filed
fiscal year 2009 · full schema · 66 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Brussel
Ground area
651 m²
Building footprint
581 m²
Volume, LiDAR
14,147 m³
Parcel 21822R0229/00K003, Brussels · tallest building 40.6 m, ±12 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0229/00K003 | Brussels | 651 m² | 1 · 580 m² | 40.6 m · 12 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | EMILIE MICHEL AVENUE DE FRE 229, 1180 02 UCCLE- |
09-06-2020 → present |
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Of 4,560 companies in sector 74999 we hold annual accounts for 1,935. 660 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded06-01-2009
Fiscal year end30-06
Activities, NACEBEL 2025
74999Other professional, scientific and technical activities
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.