FERECO
InactiveFERECO was declared bankrupt on 06-01-2022 (Ondernemingsrechtbank Antwerpen, afdeling Hasselt); the bankruptcy was closed for insufficient assets by judgment of 28-03-2024, published in the Belgian State Gazette on 04-04-2024.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · 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 · 6 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline28-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 27-11-2021, 119 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
119 d late
2019
439 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 279 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 2020, micro schema
Turnover
€35,576
EBIT margin
-164.8%
Net result
€160,268▲ 244%
2019 · €46,566
Working capital
€46,933
2019 · -€121,742
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
Line201820192020
Turnover€35,576-
Operating result-€58,643-€50,236€160,652▲ 220%
Net result-€67,645-€46,566€160,268▲ 244%
EBIT margin-164.8%-
Equity-€103,468--€56,901▲ 45.0%€103,367
Total assets€184,987-€236,059▲ 27.6%€189,051▼ 19.9%
Debt€288,455-€292,960▲ 1.6%€85,684▼ 70.8%
Working capital-€176,156--€121,742▲ 30.9%€46,933
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2020 is 220% above 2019 and is the highest result in the available series.
Balance-sheet composition
Equity and liabilities €189,051
Equity
€103,367
Debt
€85,684
Debt finances 45.3% of the balance-sheet total.
Key figures and ratios
EBITDA
€169,059▲
2019 · €58,508
Cash flow
€168,675▲
2019 · €54,838
Current ratio
2.25▲
2019 · 0.50
Debt to equity
0.47▲
2019 · -0.85
ROE
155.0%
ROA
84.8%▲
2019 · 19.7%
Debt ≤ 1 year
€37,470▼
2019 · €244,746
Debt > 1 year
€48,214=
2019 · €48,214
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Turnover70 | €35,576 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,298 | €8,272 | €8,407 | ▲ 1.6% |
| Gross operating margin9900 | -€40,001 | €58,570 | €169,059 | ▲ 189% |
| Operating profit (loss)9901 | -€58,643 | €50,236 | €160,652 | ▲ 220% |
| Recurring financial charges65 | €7,277 | €3,670 | €384 | ▼ 89.5% |
| Profit (loss) for the period before taxes9903 | -€67,645 | €46,566 | €160,268 | ▲ 244% |
| Profit (loss) for the period9904 | -€67,645 | €46,566 | €160,268 | ▲ 244% |
| Profit (loss) for the period to be appropriated9905 | -€67,645 | €46,566 | €160,268 | ▲ 244% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €184,987 | €236,059 | €189,051 | ▼ 19.9% |
| Formation expenses20 | €120,544 | €112,596 | €104,648 | ▼ 7.1% |
| Fixed assets21/28 | €784 | €459 | - | - |
| Tangible fixed assets22/27 | €784 | €459 | - | - |
| Current assets29/58 | €63,660 | €123,004 | €84,403 | ▼ 31.4% |
| Amounts receivable within one year40/41 | €63,228 | €122,827 | €84,213 | ▼ 31.4% |
| Cash at bank and in hand54/58 | €432 | €177 | €190 | ▲ 7.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €184,987 | €236,059 | €189,051 | ▼ 19.9% |
| Equity10/15 | -€103,468 | -€56,901 | €103,367 | ▲ 282% |
| Contributions10/11 | €249,480 | €249,480 | €249,480 | = |
| Profit (loss) carried forward14 | -€352,948 | -€306,381 | -€146,113 | ▲ 52.3% |
| Amounts payable17/49 | €288,455 | €292,960 | €85,684 | ▼ 70.8% |
| Amounts payable after more than one year17 | €48,214 | €48,214 | €48,214 | = |
| Amounts payable within one year42/48 | €239,816 | €244,746 | €37,470 | ▼ 84.7% |
| Trade debts44 | €66,832 | €79,457 | €6,437 | ▼ 91.9% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€67,645 | €46,566 | €160,268 | ▲ 244% |
| + Depreciation and write-downs630 | €8,298 | €8,272 | €8,407 | ▲ 1.6% |
| Operating cash flow (approximation) | -€59,347 | €54,838 | €168,675 | ▲ 208% |
| Investment in fixed assets (approximation) | - | -€7,947 | - | - |
| Change in cash | - | -€255 | €13 | ▲ 105% |
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
2024
04-04
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · event 28-03-2024
2022
11-01
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · event 06-01-2022
2021
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 119 days late
13-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 439 days late
2020
31-12
Financial
Highest result since 2018net €160,268 ▲244%
Operating result €160,652, net result €160,268, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 2.25
Current ratio from 0.50 to 2.25; short-term debt falls from €244,746 to €37,470.
31-12
Financial
Equity above €100,000Eq €103,367
2 profitable years in a row build equity to €103,367.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 392 days late
2019
31-12
Financial
Back to profitnet €46,566
Net result €46,566 after one loss-making year.
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
2016
18-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | RONNY MAES PRINS BISSCHOPSINGEL 11,
3500 HASSELT |
06-01-2022 → 28-03-2024 |
| Curator | KRISTOF KROL PRINS
BISSCHOPSSINGEL 11, 3500 HASSELT |
06-01-2022 → 28-03-2024 |