EVOLUTION MEDIA GROUP
InactiveEVOLUTION MEDIA GROUP was declared bankrupt on 23-02-2024 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed for insufficient assets by judgment of 20-01-2026, published in the Belgian State Gazette on 23-01-2026.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 28-07-2023, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
3 d early
2021
29 d late
2020
31 d late
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 7 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2022, micro schema
Equity
€105,304▲ 1.0%
2021 · €104,299
Total assets
€243,031▼ 2.0%
2021 · €248,007
Net result
€1,006▼ 85.8%
2021 · €7,080
Working capital
€111,235▲ 10.8%
2021 · €100,407
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
Line20182019202020212022
Operating result-€189,057-€2,471€30,240▲ 1,124%€8,942▼ 70.4%€2,516▼ 71.9%
Net result-€183,899-€6,027€28,365▲ 371%€7,080▼ 75.0%€1,006▼ 85.8%
Equity-€881,174-€68,853€97,218▲ 41.2%€104,299▲ 7.3%€105,304▲ 1.0%
Total assets€320,679-€280,562▼ 12.5%€287,844▲ 2.6%€248,007▼ 13.8%€243,031▼ 2.0%
Debt€1.2m-€211,709▼ 82.4%€190,626▼ 10.0%€143,708▼ 24.6%€137,726▼ 4.2%
Working capital-€884,838-€49,670€81,980▲ 65.1%€100,407▲ 22.5%€111,235▲ 10.8%
Staff (FTE)5.3-4.4▼ 17.0%4.4=4.4=4▼ 9.1%
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 has fallen two years in a row; 2022 is 72% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €243,031
Fixed assets
€2,914 ▼ 71.0%
Current assets
€240,116 ▲ 0.9%
Equity and liabilities €243,031
Equity
€105,304 ▲ 1.0%
Debt
€137,726 ▼ 4.2%
Debt's share of the balance-sheet total falls from 57.9% to 56.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€4,133▼
2021 · €10,717
Cash flow
€2,623▼
2021 · €8,855
Current ratio
1.86▲
2021 · 1.73
Debt to equity
1.31▼
2021 · 1.38
ROE
1.0%▼
2021 · 6.8%
ROA
0.4%▼
2021 · 2.9%
Interest coverage
3.25▼
2021 · 6.58
Debt ≤ 1 year
€128,881▼
2021 · €137,552
Income taxes
€243▲
2021 · €234
Staff costs
€203,204▼
2021 · €215,709
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €215,709 | €203,204 | ▼ 5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,151 | €4,513 | €1,775 | €1,775 | €1,617 | ▼ 8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€9,844 | €1,400 | ▲ 114% |
| Other operating charges640/8 | - | - | - | €825 | €279 | ▼ 66.2% |
| Non-recurring operating charges66A | - | - | - | €11,594 | - | - |
| Gross operating margin9900 | €148,553 | €271,206 | €234,646 | €229,000 | €209,016 | ▼ 8.7% |
| Operating profit (loss)9901 | -€189,057 | €2,471 | €30,240 | €8,942 | €2,516 | ▼ 71.9% |
| Financial income75/76B | - | - | - | - | €4 | - |
| Recurring financial income75 | €4,766 | €5,308 | - | - | €4 | - |
| Financial charges65/66B | - | - | - | €1,628 | €1,271 | ▼ 21.9% |
| Recurring financial charges65 | €1,755 | €1,397 | €1,640 | €1,628 | €1,271 | ▼ 21.9% |
| Profit (loss) for the period before taxes9903 | -€183,521 | €6,422 | €28,600 | €7,314 | €1,248 | ▼ 82.9% |
| Income taxes67/77 | €378 | €394 | €235 | €234 | €243 | ▲ 3.8% |
| Profit (loss) for the period9904 | -€183,899 | €6,027 | €28,365 | €7,080 | €1,006 | ▼ 85.8% |
| Profit (loss) for the period to be appropriated9905 | -€183,899 | €6,027 | €28,365 | €7,080 | €1,006 | ▼ 85.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €320,679 | €280,562 | €287,844 | €248,007 | €243,031 | ▼ 2.0% |
| Fixed assets21/28 | €26,813 | €21,678 | €24,338 | €10,048 | €2,914 | ▼ 71.0% |
| Tangible fixed assets22/27 | €10,191 | €5,678 | €3,902 | €2,127 | €510 | ▼ 76.0% |
| Furniture and vehicles24 | - | - | - | €2,127 | €510 | ▼ 76.0% |
| Financial fixed assets28 | €16,623 | €16,000 | €20,436 | €7,920 | €2,404 | ▼ 69.6% |
| Current assets29/58 | €293,866 | €258,884 | €263,506 | €237,959 | €240,116 | ▲ 0.9% |
| Amounts receivable within one year40/41 | €223,953 | €195,001 | €203,543 | €175,931 | €188,671 | ▲ 7.2% |
| Trade receivables40 | - | - | - | €175,931 | €188,671 | ▲ 7.2% |
| Cash at bank and in hand54/58 | €40,882 | €35,774 | €44,214 | €44,376 | €34,261 | ▼ 22.8% |
| Deferred charges and accrued income490/1 | - | - | - | €17,652 | €17,185 | ▼ 2.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €320,679 | €280,562 | €287,844 | €248,007 | €243,031 | ▼ 2.0% |
| Equity10/15 | -€881,174 | €68,853 | €97,218 | €104,299 | €105,304 | ▲ 1.0% |
| Contributions10/11 | €18,600 | €962,600 | - | €962,600 | €962,600 | = |
| Reserves13 | €272,912 | €272,912 | €272,912 | €272,912 | €272,912 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €37,500 | €37,500 | = |
| Distributable reserves133 | - | - | - | €233,552 | €233,552 | = |
| Profit (loss) carried forward14 | -€1.2m | -€1.2m | -€1.1m | -€1.1m | -€1.1m | ▲ 0.1% |
| Amounts payable17/49 | €1.2m | €211,709 | €190,626 | €143,708 | €137,726 | ▼ 4.2% |
| Amounts payable within one year42/48 | €1.2m | €209,214 | €181,526 | €137,552 | €128,881 | ▼ 6.3% |
| Trade debts44 | €170,064 | €138,401 | €112,510 | €61,438 | €56,944 | ▼ 7.3% |
| Suppliers440/4 | - | - | - | €61,438 | €56,944 | ▼ 7.3% |
| Taxes, remuneration and social security45 | - | - | - | €70,952 | €66,775 | ▼ 5.9% |
| Taxes450/3 | - | - | - | €16,889 | €22,597 | ▲ 33.8% |
| Remuneration and social security454/9 | - | - | - | €54,063 | €44,178 | ▼ 18.3% |
| Other amounts payable47/48 | - | - | - | €5,162 | €5,162 | = |
| Accrued charges and deferred income492/3 | - | - | - | €6,156 | €8,845 | ▲ 43.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€183,899 | €6,027 | €28,365 | €7,080 | €1,006 | ▼ 85.8% |
| + Depreciation and write-downs630 | €7,151 | €4,513 | €1,775 | €1,775 | €1,617 | ▼ 8.9% |
| Operating cash flow (approximation) | -€176,747 | €10,541 | €30,140 | €8,855 | €2,623 | ▼ 70.4% |
| Investment in fixed assets (approximation) | - | €623 | -€4,436 | €12,515 | €5,516 | ▼ 55.9% |
| Change in cash | - | -€5,108 | €8,439 | €163 | -€10,115 | ▼ 6,316% |
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
2026
23-01
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Gent · event 20-01-2026
2024
01-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 23-02-2024
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Equity above €100,000Eq €104,299 ▲7.3%
3 profitable years in a row build equity to €104,299.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €28,365 ▲371%
Operating result €30,240, net result €28,365, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €6,027
Net result €6,027 after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 1.24
Current ratio from 0.25 to 1.24; short-term debt falls from €1.2m to €209,214.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
Show earlier events
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
23-07
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
11-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | GEERT DEFREYNE KORTRIJKSESTEENWEG 361,
9000 GENT |
23-02-2024 → 20-01-2026 |
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 9,000 EUR awarded · 9,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 9,000 EUR | 9,000 EUR |