FIRST
Open bankruptcyA bankruptcy procedure is open for FIRST according to publications in the Belgian State Gazette; curator: JAN BRAECKMANS.
Summary
The 2024 annual accounts show negative equity (-€16,408) and a net result of -€84,151.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Antwerp, Antwerp division
- Declared bankrupt
- 11 September 2025
- Supervising judge
- Michel Cuypers
- Official Gazette
- 19-09-2025 (pdf) ↗search the document for 2025/137555
Deadlines
- Provisional date payments stopped
- 11 September 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 4 October 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 11 October 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 7 November 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- passed on 11 September 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Jan BraeckmansGrote Steenweg 417, 2600 Berchem (Antwerpen)jan.braeckmans@solvarte.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€16,408
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-07-2025, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
20 d early
2023
342 d late
2022
31 d late
2021
31 d late
2020
124 d late
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 95 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Warehousing and support activities for transportation sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
-€16,408
2023 · €67,743
Total assets
€229,922▼ 19.3%
2023 · €284,809
Net result
-€84,151▼ 30.2%
2023 · -€64,645
Working capital
-€11,629
2023 · €74,345
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€94,036-€91,927-€1,732▲ 98.1%-€42,071▼ 2,329%-€84,961▼ 102%
Net result€85,106within the sector's middle half-€98,098below the sector's middle half-€6,502below the sector's middle half▲ 93.4%-€64,645below the sector's middle half▼ 894%-€84,151below the sector's middle half▼ 30.2%
Equity€236,989within the sector's middle half▲ 25.7%€138,891within the sector's middle half▼ 41.4%€132,389within the sector's middle half▼ 4.7%€67,743within the sector's middle half▼ 48.8%-€16,408below the sector's middle half
Total assets€455,144below the sector's middle half▼ 13.1%€322,994below the sector's middle half▼ 29.0%€326,113within the sector's middle half▲ 1.0%€284,809within the sector's middle half▼ 12.7%€229,922within the sector's middle half▼ 19.3%
Debt€218,155▼ 34.9%€184,103▼ 15.6%€193,724▲ 5.2%€217,066▲ 12.0%€246,330▲ 13.5%
Working capital€227,151within the sector's middle half▲ 31.2%€155,281within the sector's middle half▼ 31.6%€137,556above the sector's middle half▼ 11.4%€74,345within the sector's middle half▼ 46.0%-€11,629within the sector's middle half
Solvency52.1%within the sector's middle half▲ 16.1pp43.0%within the sector's middle half▼ 9.1pp40.6%within the sector's middle half▼ 2.4pp23.8%within the sector's middle half▼ 16.8pp-7.1%below the sector's middle half▼ 30.9pp
Current ratio2.92above the sector's middle half▲ 1.082.85above the sector's middle half▼ 0.082.21within the sector's middle half▼ 0.641.47within the sector's middle half▼ 0.740.94within the sector's middle half▼ 0.53
Return on assets (ROA)18.7%above the sector's middle half▲ 26.8pp-30.4%below the sector's middle half▼ 49.1pp-2.0%below the sector's middle half▲ 28.4pp-22.7%below the sector's middle half▼ 20.7pp-36.6%below the sector's middle half▼ 13.9pp
Staff (FTE)2.7below the sector's middle half=2.3below the sector's middle half▼ 14.8%3▲ 30.4%3=2.9▼ 3.3%
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
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 stays negative: a loss of €84,961 in 2024 against €42,071 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €229,922
Fixed assets
€35,222 ▼ 34.0%
Current assets
€194,700 ▼ 15.9%
Key figures and ratios
EBITDA
-€67,529▼
2023 · -€20,636
Cash flow
-€66,719▼
2023 · -€43,211
Debt to equity
-15.01▼
2023 · 3.20
Interest coverage
-19.58▼
2023 · -3.26
Debt ≤ 1 year
€206,330▲
2023 · €157,066
Debt > 1 year
€40,000▼
2023 · €60,000
Income taxes
€8,498▲
2023 · €188
Staff costs
€132,057▲
2023 · €101,316
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €132,875 | €139,870 | €101,316 | €132,057 | ▲ 30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,228 | €26,228 | €26,803 | €21,434 | €17,432 | ▼ 18.7% |
| Other operating charges640/8 | - | €3,110 | €3,318 | €3,038 | €3,243 | ▲ 6.8% |
| Gross operating margin9900 | €267,137 | €70,285 | €168,259 | €83,717 | €67,770 | ▼ 19.0% |
| Operating profit (loss)9901 | €94,036 | -€91,927 | -€1,732 | -€42,071 | -€84,961 | ▼ 102% |
| Financial income75/76B | - | €991 | €1,242 | - | €13,500 | - |
| Recurring financial income75 | €1,182 | €991 | €2 | - | €0 | - |
| Non-recurring financial income76B | - | - | €1,240 | - | €13,500 | - |
| Financial charges65/66B | - | €6,464 | €5,707 | €22,387 | €4,193 | ▼ 81.3% |
| Recurring financial charges65 | €8,658 | €6,464 | €5,707 | €6,326 | €3,448 | ▼ 45.5% |
| Non-recurring financial charges66B | - | - | - | €16,060 | €745 | ▼ 95.4% |
| Profit (loss) for the period before taxes9903 | €86,560 | -€97,401 | -€6,197 | -€64,458 | -€75,653 | ▼ 17.4% |
| Income taxes67/77 | €1,454 | €696 | €305 | €188 | €8,498 | ▲ 4,428% |
| Profit (loss) for the period9904 | €85,106 | -€98,098 | -€6,502 | -€64,645 | -€84,151 | ▼ 30.2% |
| Profit (loss) for the period to be appropriated9905 | €85,106 | -€98,098 | -€6,502 | -€64,645 | -€84,151 | ▼ 30.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €455,144 | €322,994 | €326,113 | €284,809 | €229,922 | ▼ 19.3% |
| Fixed assets21/28 | €109,838 | €83,610 | €74,832 | €53,398 | €35,222 | ▼ 34.0% |
| Tangible fixed assets22/27 | €109,838 | €83,610 | €73,934 | €52,499 | €34,323 | ▼ 34.6% |
| Land and buildings22 | - | €47,129 | €44,557 | €31,246 | €21,938 | ▼ 29.8% |
| Plant, machinery and equipment23 | - | €7,141 | €6,831 | €5,500 | €4,170 | ▼ 24.2% |
| Leasing and similar rights25 | - | €2,166 | €2,166 | €2,166 | €1,421 | ▼ 34.4% |
| Other tangible fixed assets26 | - | €27,173 | €20,380 | €13,587 | €6,793 | ▼ 50.0% |
| Financial fixed assets28 | - | - | €899 | €899 | €899 | = |
| Current assets29/58 | €345,306 | €239,384 | €251,280 | €231,411 | €194,700 | ▼ 15.9% |
| Amounts receivable within one year40/41 | €300,523 | €203,528 | €222,397 | €181,037 | €168,825 | ▼ 6.7% |
| Trade receivables40 | - | €181,593 | €211,499 | €165,426 | €159,062 | ▼ 3.8% |
| Other amounts receivable41 | - | €21,935 | €10,898 | €15,612 | €9,763 | ▼ 37.5% |
| Cash at bank and in hand54/58 | €44,783 | €35,856 | €28,883 | €50,374 | €25,875 | ▼ 48.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €455,144 | €322,994 | €326,113 | €284,809 | €229,922 | ▼ 19.3% |
| Equity10/15 | €236,989 | €138,891 | €132,389 | €67,743 | -€16,408 | ▼ 124% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €218,397 | €218,397 | €218,397 | €218,397 | €218,397 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | - | €216,537 | €216,537 | €216,537 | €216,537 | = |
| Profit (loss) carried forward14 | - | -€98,098 | -€104,600 | -€169,245 | -€253,396 | ▼ 49.7% |
| Amounts payable17/49 | €218,155 | €184,103 | €193,724 | €217,066 | €246,330 | ▲ 13.5% |
| Amounts payable after more than one year17 | €100,000 | €100,000 | €80,000 | €60,000 | €40,000 | ▼ 33.3% |
| Financial debts170/4 | - | €100,000 | €80,000 | €60,000 | €40,000 | ▼ 33.3% |
| Amounts payable within one year42/48 | €118,155 | €84,103 | €113,724 | €157,066 | €206,330 | ▲ 31.4% |
| Current portion of amounts payable after more than one year42 | - | - | €20,000 | €21,436 | €22,329 | ▲ 4.2% |
| Trade debts44 | €45,695 | €40,007 | €53,393 | €13,375 | €49,351 | ▲ 269% |
| Suppliers440/4 | - | €40,007 | €53,393 | €13,375 | €49,351 | ▲ 269% |
| Taxes, remuneration and social security45 | - | €17,286 | €2,669 | €188 | €3,815 | ▲ 1,933% |
| Taxes450/3 | - | €2,150 | €1,002 | €188 | €332 | ▲ 77.2% |
| Remuneration and social security454/9 | - | €15,136 | €1,667 | - | €3,483 | - |
| Other amounts payable47/48 | - | €26,810 | €37,662 | €122,067 | €130,835 | ▲ 7.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €85,106 | -€98,098 | -€6,502 | -€64,645 | -€84,151 | ▼ 30.2% |
| + Depreciation and write-downs630 | €35,228 | €26,228 | €26,803 | €21,434 | €17,432 | ▼ 18.7% |
| Operating cash flow (approximation) | €120,334 | -€71,870 | €20,300 | -€43,211 | -€66,719 | ▼ 54.4% |
| Investment in fixed assets (approximation) | - | €0 | -€18,025 | €0 | €745 | - |
| Change in cash | - | -€8,927 | -€6,973 | €21,490 | -€24,498 | ▼ 214% |
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
2025
19-09
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 11-09-2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 342 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet -€98,098
Net result drops to -€98,098, the lowest in the series.
02-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 124 days late
2020
31-12
Financial
Back to profitnet €85,106
Net result €85,106 after 2 loss-making years.
31-12
Financial
Equity above €200,000Eq €236,989 ▲25.7%
Equity rises from €188,597 to €236,989.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
24-06
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 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
Registered office, Antwerpen · 1 establishment unit since 1997
Ground area
362 m²
Building footprint
218 m²
Volume, LiDAR
2,870 m³
Parcel 11807G0282/00K004, Flanders · tallest building 16.4 m, ±4 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
FIRST
since 19972.083.060.845
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G0282/00K004 | Flanders | 362 m² | 1 · 218 m² | 16.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
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 | JAN BRAECKMANS GROTE STEENWEG 417,
2600 BERCHEM (ANTWERPEN) |
11-09-2025 → present |
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Of 273 companies in sector 52241 we hold annual accounts for 211. 109 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-05-1997
Fiscal year end31-12
Activities, NACEBEL 2025
52241Warehousing and support activities for transportation
52249Warehousing and support activities for transportation
52250Logistics services
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.