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FERROKONSTRUKT

Active
Public limited company·Vervaardiging van metalen constructiewerken en delen daarvan· 36 yrs active
Oude Diksmuidse Boterweg 1 ·8760 Tielt, Belgium
Open bankruptcy
KBO/BCE: BE 0439.428.608
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Age36 yrs
Staff (FTE)31.9
Real estate1 parcel · 3.0 ha

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for FERROKONSTRUKT according to publications in the Belgian State Gazette. The 2020 annual accounts show negative equity (€-2.26M) and a net result of €-2.61M.

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

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

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.

Insolvency timeline

1 events
27-10-2021
Bankruptcy Opening
Date: 21-10-2021 · Ondernemingsrechtbank Gent, afdeling Kortrijk · FERROKONSTRUKT NV OUDE DIKSMUIDSE BOTERWEG 1, 8760 MEULEBEKE · Publications in State Gazette ↗

Signals

Insufficient current data: the most recent filed accounts (financial year 2020) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-10. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-10-2020, that is 31-05-2021.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-10-2025 31-05-2026 nothing on record not filed -
31-10-2024 31-05-2025 nothing on record not filed -
31-10-2023 31-05-2024 nothing on record not filed -
31-10-2022 31-05-2023 nothing on record not filed -
31-10-2021 31-05-2022 nothing on record not filed -
31-10-2020 31-05-2021 27-09-2021 119 d late 2021-68500122
31-10-2019 31-05-2020 28-04-2020 33 d early 2020-10300121
31-10-2018 31-05-2019 02-04-2019 59 d early 2019-09200194
31-10-2017 31-05-2018 27-04-2018 34 d early 2018-11300035
31-10-2016 31-05-2017 31-03-2017 61 d early 2017-08600033
31-10-2015 31-05-2016 04-05-2016 27 d early 2016-11600594
31-10-2014 31-05-2015 29-04-2015 32 d early 2015-11100505

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

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 Flags

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.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-2.61M
Working capital€-131k+75.2%
Directors2

Annual accounts & ratios

Source: NBB · 2020
Annual accounts filed on 27-09-2021 with the NBB · fiscal year 2020 · verkort
€-3.00M€-2.00M€-1.00M€0Operating result 2018: €91k€91kNet result 2018: €53k€53kOperating result 2019: €67k€67kNet result 2019: €38k€38kOperating result 2020: €-2.51M€-2.51MNet result 2020: €-2.61M€-2.61M201820192020
Operating resultNet result
EBITDA
€-2.20M
- 18-20
Net profit
€-2.61M
- 18-20
Cash flow
€-2.29M
- 18-20
Total assets
€7.12M
0.0% 18-20
Equity
€-2.26M
- 18-20
Working capital
€-131k
+75.2% 18-20
Employees (FTE)
32
-3.9% 18-20
Income taxes
€9k
-62.0% 18-20
Dividends
€455k
0.0% 18-20
Debt
€7.58M
+15.4% 18-20
Debt ≤ 1y
€6.33M
+1.0% 18-20
Debt > 1y
€1.24M
+313.7% 18-20
Current ratio
0.98
+6.9% 18-20
Quick ratio
0.84
+8.4% 18-20
Solvency
-31.7%
- 18-20
Debt / equity
-0.55
- 18-20
ROE
115.5%
+2615.6% 18-20
ROA
-36.6%
- 18-20
Figures by fiscal year
Fiscal year2020
Depositverkort
Revenue-
EBITDA€-2.20M
Net profit€-2.61M
Cash flow€-2.29M
Staff costs-
Income taxes€9k
Dividends€455k
Total assets€7.12M
Equity€-2.26M
Debt€7.58M
of which ≤ 1y€6.33M
of which > 1y€1.24M
Working capital€-131k
Employees (FTE)31.9
Ratios (computed)
2020
Current ratio0.98
Quick ratio0.84
Working capital ratio-1.8%
Solvency-31.7%
Debt / equity-0.55
Long-term debt ratio-0.55
Interest coverage-
Gross margin-
Net margin-
ROA-36.6%
ROE115.5%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2020
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2020
Balance sheet, Assets
TOTAL ASSETS 20/58€7.12M
Fixed assets 21/28€1.38M
Formation expenses 20€0
Intangible fixed assets 21€182k
Tangible fixed assets 22/27€1.16M
Financial fixed assets 28€39k
Current assets 29/58€6.20M
Stocks & contracts in progress 3€900k
Amounts receivable within one year 40/41€4.97M
Investments 50/53€0
Cash & bank 54/58€369k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€7.12M
Equity 10/15€-2.26M
Contributions / capital 10/11€302k
Reserves 13€47k
Accumulated profits (losses) 14€-2.61M
Provisions & deferred taxes 16€1.28M
Amounts payable 17/49€7.58M
Amounts payable after one year 17€1.24M
Amounts payable within one year 42/48€6.33M
Trade debts payable within one year 44€4.10M
Income statement
Gross operating margin 9900€1.70M
Operating result 9901€-2.51M
Financial income 75€27k
Financial charges 65€138k
Result before taxes 9903€-2.64M
Income taxes 67/77€9k
Net result for the period 9904€-2.64M
Result to be appropriated 9905€-2.64M
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2020 · 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.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2020 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Directors

Directors & mandates

Not yet read from the acts

11 acts for this company are in the Belgian State Gazette, of which we have read 0. This is therefore not a statement about the company: we have not extracted its directors from those acts yet.

Insolvency mandates

2 mandates
Role Name Tenure Source
Curator Johan VYNCKIER
ENGELSE WANDELING 74, 8510 MARKE
 21-10-2021 → present Belgian State Gazette
Curator GUY DELABIE
ENGELSE WANDELING 74, 8510 MARKE
 21-10-2021 → present Belgian State Gazette

Legal Structure

NACE primary Vervaardiging van metalen constructiewerken en delen daarvan(25110)
Legal form Public limited company(014)
Incorporation23-12-1989
StatusActive
Postal code8760
First BS signal 27-10-2021
Latest BS signal 27-10-2021

Structure & network

Ownership & control

No ownership or control structure found in the sources.

For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.

2 court or liquidation mandates are on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
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.

Oude Diksmuidse Boterweg 18760 Tielt

Establishment units

1 location
FERROKONSTRUKT
Oude Diksmuidse Boterweg 1, 8760 TieltVervaardiging van radiatoren en ketels voor centrale verwarming
since 19902.046.944.181
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area3.0 ha
Buildings1
Building footprint2.4 ha
Volume (LiDAR)163,129 m³
Tallest building19.8 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

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.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
37322D0030/00H002 Flanders 3.0 ha 1 · 2.4 ha 19.8 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.

Publications

Lifecycle & Insolvency Signals

1 event from the State Gazette
27-10-2021
Bankruptcy Opening
Date: 21-10-2021 · Ondernemingsrechtbank Gent, afdeling Kortrijk · FERROKONSTRUKT NV OUDE DIKSMUIDSE BOTERWEG 1, 8760 MEULEBEKE · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262021-10-27 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgisch Staatsblad · acts

1 acts
All acts · 1 updated 4 years ago
2021
27-09-2021 Dissolution with immediate closure of the liquidation End of life·Hélène DUSSELIER
  • Ontbinding: 2021-09-07
  • Sluiting: 2021-09-07
Notary: Hélène DUSSELIER · MeulebekeFirm: NOTARIS HÉLÈNE DUSSELIER BV

Analysis

Snowflake analysis

financial profile on 5 axes
Health0Profitability100Solvency44Growth32Stability0
35 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0
Profitability 100
Solvency 44
Growth 32
Stability 0

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AI due-diligence brief

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Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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Credit advice

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

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Comparable size, same sector
We hold annual accounts for 496 of the 3,976 companies in this sector. 309 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Vervaardiging van metalen constructiewerken en delen daarvan25110Vervaardiging van metalen constructiewerken en delen daarvan25110Vervaardiging van metalen constructiewerken en onderdelen daarvan28110
Primary activity highlighted.
Names & trade names
Legal nameNL FERROKONSTRUKT
Registered office
Oude Diksmuidse Boterweg 1
8760 Tielt, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.