Summary
ETNA has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is below 0.1% (very low). A small non-profit association files its annual accounts with the court registry, not with the National Bank.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ETNA
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne” (deed in French)
- Elected domicileThe address where directors or the company receive official documents.
- One provision in the deed
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Immédiatement après l'assemblée générale de réélection, six ans” (deed in French)“Simple notification au conseil, administrateurs restants cooptent un nouvel administrateur” (deed in French)“Indiqué dans la convocation, ou au siège, par le président, ou vice-président, ou secrétaire, ou autre administrateur désigné” (deed in French)“Registre spécial, signés par le président et les administrateurs qui le souhaitent” (deed in French)5 more provisions on this in the deed
Capital, shares and profit
- Records ruleWhich registers the company keeps, such as the share register, and how.
- One provision in the deed
- Financing ruleHow the company may fund itself, for example with loans from shareholders.
- One provision in the deed
- Membership ruleWho can become a member or partner, and on what terms.
- “Les personnes en règle de cotisation, qui soutiennent l'association et buts mais qui ne participent pas à sa gestion, les fondateurs, toute…” (deed in French)
Meetings and financial year
- Financial yearThe twelve-month period the company draws up its annual accounts for.
- From 1 January to 31 December
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of February at 18:00
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- One provision in the deed
- Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
- “Tout membre peut donner à un autre membre une procuration écrite pour le représenter à l'assemblée et y voter en ses lieu et place…” (deed in French)
Oversight and winding up
- Auditor ruleHow a statutory auditor is appointed and what they check, if the company has one.
- “Un ou plusieurs, commissaires” (deed in French)
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Dissolution, par décision de l'assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed
- JurisdictionWhich court has jurisdiction in a dispute about the company.
- “Tout litige entre l'association, ses membres, administrateurs, commissaires et liquidateurs relatifs aux affaires de l'association et à…” (deed in French)