FARION

Open bankruptcy

KBO/BCE: BE 0508.806.966

Inactive; last annual accounts for fiscal year 2020.

Summary

A bankruptcy procedure is open for FARION according to publications in the Belgian State Gazette.

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Signals

Three signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Open bankruptcy

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

Belgian State Gazette

No filing for years

The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.

NBB · 8 filings

Position against the passed deadline

31-12-2021 close31-07-2022 deadline25-09-2026 today

Latest accounts filed on time

The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 07-07-2021, 24 days ahead of the deadline.

NBB · 8 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

not filed

2022

not filed

2021

not filed

2020

24 d early

2019

76 d late

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2020, abbreviated schema

Equity

€-83k▼ 1.7%

2019 · €-82k

2018: €-74k 2019: €-82k

2018 → 2020

Total assets

€50k▼ 14.2%

2019 · €58k

2018: €60k 2019: €58k

2018 → 2020

Net result

€-1k▲ 81.9%

2019 · €-8k

2018: €-25k 2019: €-8k

2018 → 2020

Working capital

€-49k▼ 16.9%

2019 · €-42k

2018: €-34k 2019: €-42k

2018 → 2020

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line201820192020Trend

Equity€-74k-€-82k▼ 10.4%€-83k▼ 1.7%

Operating result€-20k-€-4k▲ 79.5%€156

Net result€-25k-€-8k▲ 69.2%€-1k▲ 81.9%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2020: €156 after a loss of €4k in 2019, the highest result in the available series.

Key figures and ratios

2020 value · change against 2019

Solvency

-167.4%▼

2019 · -141.3%

Current ratio

0.51▼

2019 · 0.58

Quick ratio

0.01▼

2019 · 0.09

Debt to equity

-0.41▲

2019 · -0.49

ROA

-2.8%▲

2019 · -13.3%

Debt

€133k▼

2019 · €140k

Debt ≤ 1 year

€98k▼

2019 · €100k

Debt > 1 year

€34k▼

2019 · €40k

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 · 2020 against 2019 · 21 lines

Balance sheet Code20192020

Assets

Total assets20/58€58k€50k▼

Current assets29/58€58k€50k▼

Stocks and contracts in progress3€49k€49k=

Amounts receivable within one year40/41€8k€653▼

Cash at bank and in hand54/58€103€70▼

Equity and liabilities

Total equity and liabilities10/49€58k€50k▼

Equity10/15€-82k€-83k▼

Contributions10/11€63k-

Profit (loss) carried forward14€-144k€-146k▼

Amounts payable17/49€140k€133k▼

Amounts payable after more than one year17€40k€34k▼

Amounts payable within one year42/48€100k€98k▼

Trade debts44€20k€12k▼

Income statement Code20192020

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k-

Gross operating margin9900€-2k€1k▲

Operating profit (loss)9901€-4k€156▲

Recurring financial income75-€320

Recurring financial charges65€4k€2k▼

Profit (loss) for the period before taxes9903€-8k€-1k▲

Profit (loss) for the period9904€-8k€-1k▲

Profit (loss) for the period to be appropriated9905€-8k€-1k▲

Timeline · acts, filings and financial milestones

All 9Signals 1Filings 8

2022

22-02

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · event 15-02-2022

2021

07-07