EMD
Open bankruptcyA bankruptcy procedure is open for EMD according to publications in the Belgian State Gazette; curator: ELISA DECOSTERE.
Summary
The 2023 annual accounts show equity of €135,390 and a net result of €862.
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
- Enterprise Court of Ghent, Kortrijk division
- Declared bankrupt
- 10 April 2025
- Supervising judge
- Luc Vanderbeke
- Official Gazette
- 16-04-2025 (pdf) ↗search the document for 2025/116442
Curator
- Elisa DecostereRoeselaarsestraat 55A, 8850 Ardooieelisa.decostere@advocaat.be
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.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
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. Full guide for creditors
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 30-09-2023 was due by 30-04-2024 and was filed on 29-04-2024, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
1 d early
2022
45 d early
2021
5 d early
2020
on the day
2019
27 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 16 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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?Address check Are there other customers at risk in your own list?Debtor check How is the General electrical installation work sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, abbreviated schema
Equity
€135,390▲ 0.6%
2022 · €134,527
Total assets
€613,308▼ 20.1%
2022 · €767,600
Net result
€862▼ 91.8%
2022 · €10,493
Working capital
€51,645▲ 7.0%
2022 · €48,261
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
Line20192020202120222023
Operating result€15,686▼ 17.9%€9,594▼ 38.8%€16,621▲ 73.2%€20,646▲ 24.2%€10,584▼ 48.7%
Net result€1,539▲ 51.2%€1,993▲ 29.5%€2,670▲ 34.0%€10,493▲ 293%€862▼ 91.8%
Equity€119,372▲ 1.3%€121,365▲ 1.7%€124,035▲ 2.2%€134,527▲ 8.5%€135,390▲ 0.6%
Total assets€561,140▼ 4.6%€660,896▲ 17.8%€650,572▼ 1.6%€767,600▲ 18.0%€613,308▼ 20.1%
Debt€441,768▼ 6.1%€539,531▲ 22.1%€526,537▼ 2.4%€633,073▲ 20.2%€477,918▼ 24.5%
Working capital€43,134▼ 15.2%€25,744▼ 40.3%€44,252▲ 71.9%€48,261▲ 9.1%€51,645▲ 7.0%
Staff (FTE)2.6▲ 30.0%3.4▲ 30.8%3.8▲ 11.8%2.6▼ 31.6%2.7▲ 3.8%
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 falls in 2023; 2023 is 49% below 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €613,308
Fixed assets
€97,304 ▼ 8.2%
Current assets
€516,004 ▼ 22.0%
Equity and liabilities €613,308
Equity
€135,390 ▲ 0.6%
Debt
€477,918 ▼ 24.5%
Debt's share of the balance-sheet total falls from 82.5% to 77.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,329▼
2022 · €30,430
Cash flow
€9,607▼
2022 · €20,277
Current ratio
1.11▲
2022 · 1.08
Quick ratio
0.28▼
2022 · 0.54
Debt to equity
3.53▼
2022 · 4.71
ROE
0.6%▼
2022 · 7.8%
ROA
0.1%▼
2022 · 1.4%
Interest coverage
2.31▼
2022 · 6.58
Debt ≤ 1 year
€464,359▼
2022 · €613,291
Debt > 1 year
€0▼
2022 · €799
Income taxes
€2,703▼
2022 · €5,930
Staff costs
€195,760▲
2022 · €170,037
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €4,142 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | €235,045 | €170,037 | €195,760 | ▲ 15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,871 | €6,957 | €9,040 | €9,784 | €8,745 | ▼ 10.6% |
| Other operating charges640/8 | - | - | €4,792 | €8,278 | €5,026 | ▼ 39.3% |
| Gross operating margin9900 | €146,163 | €184,202 | €265,499 | €208,745 | €220,115 | ▲ 5.4% |
| Operating profit (loss)9901 | €15,686 | €9,594 | €16,621 | €20,646 | €10,584 | ▼ 48.7% |
| Financial income75/76B | - | - | €645 | €403 | €1,352 | ▲ 235% |
| Recurring financial income75 | €225 | €642 | €645 | €403 | €1,352 | ▲ 235% |
| Financial charges65/66B | - | - | €13,824 | €4,627 | €8,371 | ▲ 80.9% |
| Recurring financial charges65 | €13,458 | €7,975 | €13,824 | €4,627 | €8,371 | ▲ 80.9% |
| Non-recurring financial charges66B | - | - | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €2,453 | €2,012 | €3,442 | €16,423 | €3,565 | ▼ 78.3% |
| Income taxes67/77 | €914 | €19 | €773 | €5,930 | €2,703 | ▼ 54.4% |
| Profit (loss) for the period9904 | €1,539 | €1,993 | €2,670 | €10,493 | €862 | ▼ 91.8% |
| Profit (loss) for the period to be appropriated9905 | €1,539 | €1,993 | €2,670 | €10,493 | €862 | ▼ 91.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €561,140 | €660,896 | €650,572 | €767,600 | €613,308 | ▼ 20.1% |
| Fixed assets21/28 | €106,014 | €114,858 | €114,833 | €106,048 | €97,304 | ▼ 8.2% |
| Intangible fixed assets21 | €550 | - | - | - | - | - |
| Tangible fixed assets22/27 | €105,278 | €114,672 | €114,647 | €104,862 | €96,118 | ▼ 8.3% |
| Land and buildings22 | - | - | €103,306 | €97,398 | €91,546 | ▼ 6.0% |
| Plant, machinery and equipment23 | - | - | €6,925 | €5,036 | €3,596 | ▼ 28.6% |
| Furniture and vehicles24 | - | - | €4,416 | €2,428 | €976 | ▼ 59.8% |
| Financial fixed assets28 | €186 | €186 | €186 | €1,186 | €1,186 | = |
| Current assets29/58 | €455,127 | €546,038 | €535,739 | €661,552 | €516,004 | ▼ 22.0% |
| Stocks and contracts in progress3 | €158,928 | €190,181 | €369,392 | €329,656 | €385,326 | ▲ 16.9% |
| Stocks30/36 | - | - | €180,292 | €170,056 | €180,926 | ▲ 6.4% |
| Contracts in progress37 | - | - | €189,100 | €159,600 | €204,400 | ▲ 28.1% |
| Amounts receivable within one year40/41 | €96,652 | €153,205 | €161,966 | €323,732 | €107,957 | ▼ 66.7% |
| Trade receivables40 | - | - | €161,042 | €293,582 | €104,368 | ▼ 64.5% |
| Other amounts receivable41 | - | - | €924 | €30,150 | €3,589 | ▼ 88.1% |
| Cash at bank and in hand54/58 | €11,945 | €623 | €2,735 | €6,538 | €9,762 | ▲ 49.3% |
| Deferred charges and accrued income490/1 | - | - | €1,646 | €1,626 | €12,959 | ▲ 697% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €561,140 | €660,896 | €650,572 | €767,600 | €613,308 | ▼ 20.1% |
| Equity10/15 | €119,372 | €121,365 | €124,035 | €134,527 | €135,390 | ▲ 0.6% |
| Contributions10/11 | €58,600 | - | €58,600 | €58,600 | €58,600 | = |
| Reserves13 | €60,772 | €62,765 | €65,435 | €75,927 | €76,790 | ▲ 1.1% |
| Non-distributable reserves130/1 | - | - | €5,860 | €5,860 | €5,860 | = |
| Reserves not available under the articles1311 | - | - | €5,860 | €5,860 | €5,860 | = |
| Tax-exempt reserves132 | - | - | €16,726 | €16,726 | €16,726 | = |
| Distributable reserves133 | - | - | €42,849 | €53,341 | €54,204 | ▲ 1.6% |
| Amounts payable17/49 | €441,768 | €539,531 | €526,537 | €633,073 | €477,918 | ▼ 24.5% |
| Amounts payable after more than one year17 | €29,775 | €19,237 | €10,192 | €799 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €10,192 | €799 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €411,993 | €520,294 | €491,487 | €613,291 | €464,359 | ▼ 24.3% |
| Current portion of amounts payable after more than one year42 | - | - | €9,045 | €9,393 | €799 | ▼ 91.5% |
| Financial debts43 | - | - | €0 | €226 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €0 | €226 | €0 | ▼ 100% |
| Trade debts44 | €37,383 | €113,135 | €48,826 | €205,133 | €62,352 | ▼ 69.6% |
| Suppliers440/4 | - | - | €48,826 | €205,133 | €62,352 | ▼ 69.6% |
| Advances received on contracts in progress46 | - | - | - | €111 | €396 | ▲ 257% |
| Taxes, remuneration and social security45 | - | - | €132,117 | €121,982 | €150,893 | ▲ 23.7% |
| Taxes450/3 | - | - | €51,709 | €97,100 | €112,250 | ▲ 15.6% |
| Remuneration and social security454/9 | - | - | €80,408 | €24,882 | €38,643 | ▲ 55.3% |
| Other amounts payable47/48 | - | - | €301,499 | €276,446 | €249,918 | ▼ 9.6% |
| Accrued charges and deferred income492/3 | - | - | €24,858 | €18,983 | €13,559 | ▼ 28.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,539 | €1,993 | €2,670 | €10,493 | €862 | ▼ 91.8% |
| + Depreciation and write-downs630 | €9,871 | €6,957 | €9,040 | €9,784 | €8,745 | ▼ 10.6% |
| Operating cash flow (approximation) | €11,410 | €8,950 | €11,710 | €20,277 | €9,607 | ▼ 52.6% |
| Investment in fixed assets (approximation) | - | -€15,801 | -€9,015 | -€1,000 | €0 | ▲ 100% |
| Change in cash | - | -€11,322 | €2,112 | €3,802 | €3,225 | ▼ 15.2% |
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
16-04
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 10-04-2025
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Weakest financial yearnet €862 ▼91.8%
Net result drops to €862, the lowest in the series.
16-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €10,493 ▲293%
Operating result €20,646, net result €10,493, both a record.
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
17-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
30-03
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Ingelmunster · 1 establishment unit since 2003
Ground area
591 m²
Building footprint
362 m²
Volume, LiDAR
2,072 m³
Parcel 36007D0024/00T005, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
EMD
since 20032.123.190.438
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007D0024/00T005 | Flanders | 591 m² | 1 · 362 m² | 7.1 m · 2 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 | ELISA DECOSTERE ROESELAARSESTRAAT 55A,
8850 ARDOOIE |
10-04-2025 → present |
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Of 22,832 companies in sector 43211 we hold annual accounts for 10,328. 8,687 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
Founded03-12-2002
Fiscal year end30-09
Activities, NACEBEL 2025
43211General electrical installation work
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.