EIB Insulation
Open bankruptcyA bankruptcy procedure is open for EIB Insulation according to publications in the Belgian State Gazette; curator: GUY VANHOUCKE.
Summary
The 2023 annual accounts show equity of €1.85M and a net result of €126k.
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 31-12-2023 was due by 31-07-2024 and was filed on 28-06-2024, 33 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
33 d early
2022
77 d late
2021
31 d early
2020
57 d early
2019
108 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, full schema
Turnover
€48.07M▼ 9.5%
2022 · €53.10M
EBIT margin
1.2%▼ 0.7pp
2022 · 1.9%
Net result
€126k▼ 61.7%
2022 · €329k
Working capital
€1.06M
2022 · €-427k
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
Line2020202120222023
Turnover€24.87M€53.10M▲ 113%€48.07M▼ 9.5%
Operating result€983k-€1.01M▲ 2.3%€1.01M▲ 0.8%€581k▼ 42.6%
Net result€453k-€572k▲ 26.4%€329k▼ 42.6%€126k▼ 61.7%
EBIT margin4.0%1.9%▼ 2.1pp1.2%▼ 0.7pp
Equity€1.95M-€2.05M▲ 5.2%€2.05M▼ 0.1%€1.85M▼ 9.5%
Total assets€8.74M-€11.91M▲ 36.3%€17.88M▲ 50.0%€22.95M▲ 28.4%
Debt€6.72M-€9.81M▲ 45.9%€15.78M▲ 60.9%€21.05M▲ 33.4%
Working capital€438k-€136k▼ 69.0%€-427k€1.06M
Staff (FTE)66.7-66.7=85.7▲ 28.5%100.4▲ 17.2%
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 43% below 2022 and is the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €22.95M
Fixed assets
€3.68M ▲ 36.4%
Current assets
€19.27M ▲ 26.9%
Equity and liabilities €22.95M
Equity
€1.85M ▼ 9.5%
Provisions
€43k ▼ 14.7%
Debt
€21.05M ▲ 33.4%
Debt's share of the balance-sheet total rises from 88.3% to 91.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€1.01M▼
2022 · €1.40M
Cash flow
€557k▼
2022 · €715k
Current ratio
1.06▲
2022 · 0.97
Quick ratio
0.81▲
2022 · 0.67
Debt to equity
11.37▲
2022 · 7.71
ROE
6.8%▼
2022 · 16.1%
ROA
0.5%▼
2022 · 1.8%
Interest coverage
4.88▼
2022 · 17.14
Debt ≤ 1 year
€18.21M▲
2022 · €15.61M
Debt > 1 year
€2.82M▲
2022 · €169k
Income taxes
€148k▼
2022 · €304k
Staff costs
€8.16M▲
2022 · €7.99M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | €55.40M | €49.46M | ▼ 10.7% |
| Turnover70 | - | €24.87M | €53.10M | €48.07M | ▼ 9.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | €1.71M | €250k | ▼ 85.4% |
| Own construction capitalised72 | - | - | €73k | €472k | ▲ 543% |
| Other operating income74 | - | - | €462k | €664k | ▲ 43.7% |
| Non-recurring operating income76A | - | - | €55k | €3k | ▼ 95.4% |
| Operating charges60/66A | - | - | €54.38M | €48.88M | ▼ 10.1% |
| Goods for resale, raw materials and consumables60 | - | - | €41.93M | €35.67M | ▼ 14.9% |
| Purchases600/8 | - | - | €42.50M | €35.54M | ▼ 16.4% |
| Change in stocks: decrease (increase)609 | - | - | €-578k | €132k | ▲ 123% |
| Services and other goods61 | - | - | €3.90M | €4.02M | ▲ 2.9% |
| Remuneration, social security and pensions62 | - | - | €7.99M | €8.16M | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €254k | €285k | €386k | €431k | ▲ 11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €0 | €40k | - |
| Other operating charges640/8 | - | - | €157k | €196k | ▲ 25.3% |
| Non-recurring operating charges66A | - | - | €19k | €362k | ▲ 1,852% |
| Gross operating margin9900 | €6.09M | - | - | - | - |
| Operating profit (loss)9901 | €983k | €1.01M | €1.01M | €581k | ▼ 42.6% |
| Financial income75/76B | - | - | €20k | €180k | ▲ 782% |
| Recurring financial income75 | €6k | €29k | €20k | €21k | ▲ 1.6% |
| Income from current assets751 | - | - | - | €20k | - |
| Other financial income752/9 | - | - | €20k | €1k | ▼ 94.9% |
| Non-recurring financial income76B | - | - | - | €159k | - |
| Financial charges65/66B | - | - | €410k | €495k | ▲ 20.6% |
| Recurring financial charges65 | €238k | €169k | €410k | €495k | ▲ 20.6% |
| Debt charges650 | - | €32k | €82k | €208k | ▲ 154% |
| Other financial charges652/9 | - | - | €328k | €287k | ▼ 12.7% |
| Profit (loss) for the period before taxes9903 | €751k | €865k | €624k | €267k | ▼ 57.2% |
| Transfer from deferred taxes780 | - | - | €9k | €7k | ▼ 20.1% |
| Income taxes67/77 | €307k | €300k | €304k | €148k | ▼ 51.3% |
| Taxes670/3 | - | - | €316k | €148k | ▼ 53.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | €12k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €453k | €572k | €329k | €126k | ▼ 61.7% |
| Transfer from tax-exempt reserves789 | - | - | €28k | €22k | ▼ 20.1% |
| Profit (loss) for the period to be appropriated9905 | €474k | €594k | €357k | €148k | ▼ 58.4% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €8.74M | €11.91M | €17.88M | €22.95M | ▲ 28.4% |
| Fixed assets21/28 | €1.95M | €2.28M | €2.70M | €3.68M | ▲ 36.4% |
| Intangible fixed assets21 | €1.08M | €972k | €890k | €1.19M | ▲ 33.9% |
| Tangible fixed assets22/27 | €852k | €834k | €922k | €1.25M | ▲ 35.3% |
| Plant, machinery and equipment23 | - | - | €388k | €473k | ▲ 21.9% |
| Furniture and vehicles24 | - | - | €100k | €152k | ▲ 51.2% |
| Leasing and similar rights25 | - | - | €302k | €512k | ▲ 69.4% |
| Other tangible fixed assets26 | - | - | €131k | €109k | ▼ 16.5% |
| Financial fixed assets28 | €21k | €477k | €884k | €1.24M | ▲ 40.1% |
| Affiliated companies280/1 | - | - | €826k | €1.23M | ▲ 48.3% |
| Participating interests280 | - | - | €26k | €26k | ▼ 3.1% |
| Amounts receivable281 | - | - | €800k | €1.20M | ▲ 50.0% |
| Other financial fixed assets284/8 | - | - | €58k | €13k | ▼ 77.7% |
| Amounts receivable and cash guarantees285/8 | - | - | €58k | €13k | ▼ 77.7% |
| Current assets29/58 | €6.79M | €9.63M | €15.18M | €19.27M | ▲ 26.9% |
| Stocks and contracts in progress3 | €726k | €1.09M | €4.69M | €4.55M | ▼ 3.0% |
| Stocks30/36 | - | - | €1.67M | €1.54M | ▼ 7.9% |
| Raw materials and consumables30/31 | - | - | €1.67M | €1.54M | ▼ 7.9% |
| Contracts in progress37 | - | - | €3.02M | €3.01M | ▼ 0.2% |
| Amounts receivable within one year40/41 | €4.64M | €5.76M | €9.49M | €14.37M | ▲ 51.4% |
| Trade receivables40 | - | - | €8.99M | €11.55M | ▲ 28.5% |
| Other amounts receivable41 | - | - | €500k | €2.82M | ▲ 463% |
| Cash at bank and in hand54/58 | €694k | €1.41M | €932k | €260k | ▼ 72.1% |
| Deferred charges and accrued income490/1 | - | - | €68k | €92k | ▲ 36.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €8.74M | €11.91M | €17.88M | €22.95M | ▲ 28.4% |
| Equity10/15 | €1.95M | €2.05M | €2.05M | €1.85M | ▼ 9.5% |
| Contributions10/11 | - | €62k | €62k | €62k | = |
| Capital10 | - | - | €62k | €62k | = |
| Issued capital100 | - | - | €62k | €62k | = |
| Reserves13 | €227k | €212k | €184k | €162k | ▼ 12.1% |
| Non-distributable reserves130/1 | - | - | €6k | €6k | = |
| Legal reserve130 | - | - | €6k | €6k | = |
| Tax-exempt reserves132 | - | - | €158k | €135k | ▼ 14.1% |
| Distributable reserves133 | - | - | €20k | €20k | = |
| Profit (loss) carried forward14 | €1.70M | €1.77M | €1.80M | €1.63M | ▼ 9.5% |
| Provisions and deferred taxes16 | €70k | €60k | €50k | €43k | ▼ 14.7% |
| Deferred taxes168 | - | - | €50k | €43k | ▼ 14.7% |
| Amounts payable17/49 | €6.72M | €9.81M | €15.78M | €21.05M | ▲ 33.4% |
| Amounts payable after more than one year17 | €373k | €308k | €169k | €2.82M | ▲ 1,570% |
| Financial debts170/4 | - | - | €169k | €2.12M | ▲ 1,155% |
| Leasing and similar obligations172 | - | - | €169k | €317k | ▲ 88.1% |
| Credit institutions173 | - | - | €0 | - | - |
| Other loans174 | - | - | - | €1.80M | - |
| Other amounts payable178/9 | - | - | - | €700k | - |
| Amounts payable within one year42/48 | €6.35M | €9.50M | €15.61M | €18.21M | ▲ 16.7% |
| Current portion of amounts payable after more than one year42 | - | - | €111k | €321k | ▲ 190% |
| Financial debts43 | - | - | €3.13M | €6.43M | ▲ 106% |
| Credit institutions430/8 | - | - | €3.13M | €6.43M | ▲ 106% |
| Trade debts44 | €3.76M | €6.50M | €8.88M | €9.21M | ▲ 3.8% |
| Suppliers440/4 | - | - | €8.88M | €9.21M | ▲ 3.8% |
| Advances received on contracts in progress46 | - | - | €2.82M | €1.26M | ▼ 55.1% |
| Taxes, remuneration and social security45 | - | - | €678k | €983k | ▲ 44.9% |
| Taxes450/3 | - | - | €20k | €169k | ▲ 756% |
| Remuneration and social security454/9 | - | - | €658k | €814k | ▲ 23.6% |
| Other amounts payable47/48 | - | - | €1k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €4k | €26k | ▲ 599% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €453k | €572k | €329k | €126k | ▼ 61.7% |
| + Depreciation and write-downs630 | €254k | €285k | €386k | €431k | ▲ 11.7% |
| Operating cash flow (approximation) | €707k | €857k | €715k | €557k | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | €-616k | €-800k | €-1.41M | ▼ 76.7% |
| Change in cash | - | €715k | €-477k | €-672k | ▼ 40.8% |
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
2025
08-04
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 20-03-2025
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €126k ▼61.7%
Net result drops to €126k, the lowest in the series.
16-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 77 days late
2022
30-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-09
Financial
Highest result since 2020net €572k ▲26.4%
Net result €572k, the highest in the series.
30-09
Financial
Equity above €2MEq €2.05M ▲5.2%
2 profitable years in a row build equity to €2.05M.
04-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
22-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
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, Schoten · 1 establishment unit since 2014
Ground area
401 m²
Building footprint
401 m²
Volume, LiDAR
3,327 m³
Parcel 11443C0539/00V000, Flanders · tallest building 25.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
EIB INSULATION
since 20142.238.949.545
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11443C0539/00V000 | Flanders | 400 m² | 1 · 400 m² | 25.2 m · 3 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 | GUY VANHOUCKE ANSELMOSTRAAT 2,
2018 ANTWERPEN 1 |
20-03-2025 → present |
Public money · subsidies and aid
Flemish government
2022 to 2024 · 5 entries · 3,540 EUR awarded · 3,540 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 2 | -8,970 EUR | 3,314 EUR |
| 2023 | 1 | 3,314 EUR | 0 EUR |
| 2022 | 2 | 9,196 EUR | 226 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Werkbaarheidscheque (stopgezet)
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Of 4,270 companies in sector 43230 we hold annual accounts for 1,238. 351 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
Founded17-12-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
Scores and ratios are computed by Checked and are not a credit decision.