EXCELLES
Bankruptcy closedInactive since 10-09-2026; last annual accounts for fiscal year 2022.
Summary
EXCELLES was declared bankrupt on 16-09-2025 (Ondernemingsrechtbank Brussel); the bankruptcy was closed for insufficient assets by judgment of 09-09-2026, published in the Belgian State Gazette on 17-09-2026.
Signals
1 signal.
+raises risk
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Equity
€729▼ 94.8%
2021 · €14k
2020: €18k
2021: €14k
2020 → 2022
Total assets
€11k▼ 46.0%
2021 · €21k
2020: €23k
2021: €21k
2020 → 2022
Net result
€-13k▼ 287%
2021 · €-3k
2020: €13k
2021: €-3k
2020 → 2022
Working capital
€6k▼ 53.3%
2021 · €13k
2020: €16k
2021: €13k
2020 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202020212022Trend
Equity€18k-€14k▼ 19.7%€729▼ 94.8%
Operating result€18k-€-3k€-13k▼ 342%
Net result€13k-€-3k€-13k▼ 287%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €13k in 2022 against €3k in 2021; the loss grows and 2022 has the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €11k
Fixed assets
€265 ▼ 52.2%
Current assets
€11k ▼ 46.2%
Equity and liabilities €11k
Equity
€729 ▼ 94.8%
Debt
€11k ▲ 51.8%
Debt's share of the balance-sheet total rises from 33.3% to 93.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-12k▼
2021 · €-2k
Cash flow
€-13k▼
2021 · €-3k
Current ratio
2.29▼
2021 · 2.83
ROA
-117.0%▼
2021 · -16.3%
Interest coverage
-16.05▼
2021 · -3.92
Debt ≤ 1 year
€5k▼
2021 · €7k
Debt > 1 year
€6k
Equity ratios withheld: equity of €729 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 40 lines
Balance sheet
Code20212022
Assets
Total assets20/58€21k€11k▼
Formation expenses20€639€432▼
Fixed assets21/28€554€265▼
Tangible fixed assets22/27€554€265▼
Plant, machinery and equipment23€554€265▼
Current assets29/58€20k€11k▼
Amounts receivable within one year40/41€12k€10k▼
Trade receivables40€1k€6k▲
Other amounts receivable41€11k€3k▼
Cash at bank and in hand54/58€7k€932▼
Deferred charges and accrued income490/1€809-
Equity and liabilities
Total equity and liabilities10/49€21k€11k▼
Equity10/15€14k€729▼
Contributions10/11€5k€5k=
Outside capital11€5k€5k=
Other1109/19€5k€5k=
Profit (loss) carried forward14€10k€-4k▼
Amounts payable17/49€7k€11k▲
Amounts payable after more than one year17-€6k
Financial debts170/4-€6k
Amounts payable within one year42/48€7k€5k▼
Trade debts44€1k€2k▲
Suppliers440/4€1k€2k▲
Taxes, remuneration and social security45€6k€2k▼
Taxes450/3€6k€2k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€85€170▲
Income statement
Code20212022
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€496€496=
Other operating charges640/8€464€150▼
Gross operating margin9900€-2k€-12k▼
Operating profit (loss)9901€-3k€-13k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€600€755▲
Recurring financial charges65€600€755▲
Profit (loss) for the period before taxes9903€-3k€-13k▼
Profit (loss) for the period9904€-3k€-13k▼
Profit (loss) for the period to be appropriated9905€-3k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€10k€-4k▼
Profit (loss) brought forward from the previous period14P€13k€10k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
17-09
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Brussel · EXCELLES BV DA VINCILAAN 2/221, 1930 ZAVENTEM · event 09-09-2026
2025
24-09
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · EXCELLES BV DA VINCI- LAAN 2/221, 1930 ZAVENTEM · event 16-09-2025
2024
17-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 505 days late
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 870 days late
2022
31-12
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series.
24-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 177 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Ground area
2.1 ha
Parcel 23094D0098/00M000, Flanders. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094D0098/00M000 | Flanders | 2.1 ha | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 | Dirk DE MAESENEER PEGASUSLAAN 5, 1831 DIEGEM- |
16-09-2025 → 09-09-2026 |