Active BE 0466.607.909Private limited companyOpen bankruptcy

ETS MICHEL C.C.S.

Rue des Combattants de Froyennes 31 ·7503 Tournai, Belgium· 27 yrs active

Sector: Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit (43222)

Conclusion Checked

A bankruptcy procedure is open for ETS MICHEL C.C.S. according to publications in the Belgian State Gazette. The 2021 annual accounts show equity of €58k and a net result of €-446k.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€58k
Net result	€-446k
Staff (FTE)	12.2
Better than sector	10%

Financial profile 5 of 5 axes measured · computed by Checked

14 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0

Profitability 0

Solvency 19

Growth 52

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High riskRegister: open bankruptcy

This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.

Components

· Open bankruptcy (+50)

Trust signals 2 signals

Register: open bankruptcy

The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2021 · computed

0 / 100 Critical

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2021 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 28-02-2022 with the NBB · fiscal year 2021 · volledig

Operating resultNet result

Sector comparison

Fiscal year 2021 · NACE 43, Specialised construction · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	2.2%	33.4%	better than 10% of 364 sector peers
Net result	€10k	€18k	better than 39% of 364 sector peers
Equity	€58k	€77k	better than 41% of 364 sector peers
Gross operating margin	€563k	€102k	better than 83% of 340 sector peers
Employees (FTE)	12.2	7.3	better than 69% of 179 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€145k

- 19-21

Net profit

€-446k

+2.2% 19-21

Cash flow

€-362k

-2.5% 19-21

Total assets

€2.65M

-8.8% 19-21

Equity

€58k

+8.5% 19-21

Working capital

€496k

+44.9% 19-21

Employees (FTE)

12

+5.2% 19-21

Income taxes

€767

+60.7% 19-21

Show 9 other metrics

Debt

€2.59M

-9.1% 19-21

Debt ≤ 1y

€1.60M

-17.3% 19-21

Debt > 1y

€997k

+7.8% 19-21

Current ratio

1.31

+11.3% 19-21

Quick ratio

0.25

+35.9% 19-21

Solvency

2.2%

+19.0% 19-21

Debt / equity

17.14

-0.6% 19-21

ROE

-766.6%

+9.9% 19-21

ROA

-16.8%

-7.2% 19-21

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2021
Deposit	volledig
Revenue	-
EBITDA	€145k
Net profit	€-446k
Cash flow	€-362k
Staff costs	-
Income taxes	€767
Dividends	-
Total assets	€2.65M
Equity	€58k
Debt	€2.59M
of which ≤ 1y	€1.60M
of which > 1y	€997k
Working capital	€496k
Employees (FTE)	12.2

Ratios (computed)

	2021
Current ratio	1.31
Quick ratio	0.25
Working capital ratio	18.7%
Solvency	2.2%
Debt / equity	17.14
Long-term debt ratio	17.14
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-16.8%
ROE	-766.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2021

Assets

Fixed assets €559k · 21.1% Current assets €2.09M · 78.9%

Equity & liabilities

Equity €58k · 2.2% Debt €2.59M · 97.8%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€2.65M
Fixed assets	21/28	€559k
Intangible fixed assets	21	€894
Tangible fixed assets	22/27	€554k
Financial fixed assets	28	€4k
Current assets	29/58	€2.09M
Stocks & contracts in progress	3	€1.69M
Amounts receivable within one year	40/41	€388k
Cash & bank	54/58	€16k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€2.65M
Equity	10/15	€58k
Reserves	13	€227k
Accumulated profits (losses)	14	€-446k
Amounts payable	17/49	€2.59M
Amounts payable after one year	17	€997k
Amounts payable within one year	42/48	€1.60M
Trade debts payable within one year	44	€269k
Income statement
Gross operating margin	9900	€563k
Operating result	9901	€61k
Financial income	75	€7k
Financial charges	65	€56k
Result before taxes	9903	€11k
Income taxes	67/77	€767
Net result for the period	9904	€10k
Result to be appropriated	9905	€10k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	THIERRY OPSOMER CHAUSSEE DE WARNETON 340, 7784 WARNETON- . Date provisoire de cessation de paiement : 09/05/2023	09-05-2023 → present	Belgian State Gazette

Legal Structure

NACE primary	Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit(43222)
Legal form	Private limited company(610)
Incorporation	04-08-1999
Status	Active
Postal code	7503
First BS signal	22-05-2023
Latest BS signal	22-05-2023

Establishment units 1 location

Rue des Combattants de Froyennes 31, 7503 Tournai

Groothandel in auto's en lichte bestelwagens (= 3,5 ton)

since 19992.092.692.648

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
57031B0214/00X000	Wallonia	964 m²	1 · 106 m²	7.5 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023

22-05-2023

Bankruptcy Opening

Tribunal de l’entreprise du Hainaut, division Tournai · ETS MICHEL C.C.S. SRL RUE DES COMBATTANTS DE FROYENNES 31, 7503 FROYENNES · event 09-05-2023

2022

28-02-2022