FRAMACO
Open bankruptcyA bankruptcy procedure is open for FRAMACO according to publications in the Belgian State Gazette; curator: TONY BELLAVIA.
Summary
The file additionally contains 1 judicial reorganisation. The 2023 annual accounts show negative equity (-€431,319) and a net result of €118,116.
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 Hainaut, Mons division
- Declared bankrupt
- 18 March 2024
- Supervising judge
- Pierre Battard
- Official Gazette
- 25-03-2024 (pdf) ↗search the document for 2024/112185
Curator
- Tony BellaviaAvenue Des Expositions, 8A, 7000 Mons- . Date provisoire de cessation de paiement : 18/03/2024bellavia@bdmavocats.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.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
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. Full guide for creditors
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-01-2023 was due by 31-08-2023 and was filed on 07-08-2023, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
not confirmed
2025
not filed
2024
not filed
2023
24 d early
2021
27 d early
2020
34 d early
2019
89 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 44 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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?Address check Are there other customers at risk in your own list?Debtor check How is the Retail trade sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Turnover
€6.4m▼ 32.4%
2020 · €9.5m
EBIT margin
-9.0%▼ 9.7pp
2020 · 0.7%
Net result
€118,116
2021 · -€660,527
Working capital
-€1.4m▼ 128%
2021 · -€617,335
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
Line2019202020212023
Turnover€10.2m-€9.5m▼ 7.2%€6.4m▼ 32.4%
Operating result€37,306-€68,446▲ 83.5%-€579,312€201,612-
Net result-€25,198-€46,352-€660,527€118,116-
EBIT margin0.4%-0.7%▲ 0.4pp-9.0%▼ 9.7pp
Equity€576,998-€623,350▲ 8.0%-€37,177-€431,319-
Total assets€3.4m-€3.2m▼ 4.2%€3.0m▼ 6.4%€2.1m-
Debt€2.8m-€2.6m▼ 6.8%€3.0m▲ 17.5%€2.5m-
Working capital-€31,466--€83,287▼ 165%-€617,335▼ 641%-€1.4m-
Staff (FTE)10.1-12.7▲ 25.7%11.7▼ 7.9%7-
Result per fiscal year
Operating resultNet result
The operating result is €201,612 in 2023, compared with -€579,312 in 2021. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2023 in colour, 2021 as the grey bar beneath
Assets €2.1m
Fixed assets
€1.2m ▲ 0.5%
Current assets
€846,465 ▼ 53.1%
Key figures and ratios
EBITDA
€307,007▲
2021 · -€415,891
Cash flow
€223,512▲
2021 · -€497,106
Solvency
-21.0%▼
2021 · -1.2%
Current ratio
0.38▼
2021 · 0.75
Quick ratio
0.15▼
2021 · 0.51
Debt to equity
-5.77▲
2021 · -13.33
ROA
5.7%▲
2021 · -21.9%
Interest coverage
3.26
Debt ≤ 1 year
€2.3m▼
2021 · €2.4m
Debt > 1 year
€231,923▼
2021 · €495,558
Income taxes
€22▼
2021 · €1,254
Staff costs
€226,495
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|
| Turnover70 | €10.2m | €9.5m | €6.4m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €226,495 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €166,285 | €179,330 | €163,421 | €105,395 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€104,110 | - |
| Other operating charges640/8 | - | - | - | €13,751 | - |
| Non-recurring operating charges66A | - | - | - | €139,347 | - |
| Gross operating margin9900 | €671,564 | €465,782 | -€50,002 | €582,490 | - |
| Operating profit (loss)9901 | €37,306 | €68,446 | -€579,312 | €201,612 | - |
| Financial income75/76B | - | - | - | €10,644 | - |
| Recurring financial income75 | €3,979 | €12,467 | €5,550 | €10,644 | - |
| Financial charges65/66B | - | - | - | €94,118 | - |
| Recurring financial charges65 | €66,483 | €78,822 | €85,511 | €94,118 | - |
| Profit (loss) for the period before taxes9903 | -€25,198 | €72,231 | -€659,273 | €118,138 | - |
| Income taxes67/77 | - | €25,879 | €1,254 | €22 | - |
| Profit (loss) for the period9904 | -€25,198 | €46,352 | -€660,527 | €118,116 | - |
| Profit (loss) for the period to be appropriated9905 | -€25,198 | €46,352 | -€660,527 | €118,116 | - |
| Line | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €3.4m | €3.2m | €3.0m | €2.1m | - |
| Fixed assets21/28 | €1.4m | €1.3m | €1.2m | €1.2m | - |
| Tangible fixed assets22/27 | €460,429 | €400,479 | €312,438 | €302,979 | - |
| Plant, machinery and equipment23 | - | - | - | €191,869 | - |
| Furniture and vehicles24 | - | - | - | €89,898 | - |
| Leasing and similar rights25 | - | - | - | €21,212 | - |
| Financial fixed assets28 | €945,237 | €945,237 | €892,737 | €908,022 | - |
| Current assets29/58 | €2.0m | €1.9m | €1.8m | €846,465 | - |
| Stocks and contracts in progress3 | €372,803 | €635,931 | €574,452 | €512,101 | - |
| Stocks30/36 | - | - | - | €512,101 | - |
| Amounts receivable within one year40/41 | €1.1m | €703,304 | €678,485 | €98,566 | - |
| Trade receivables40 | - | - | - | €97,944 | - |
| Other amounts receivable41 | - | - | - | €622 | - |
| Current investments50/53 | €6,372 | €6,372 | €6,372 | €112 | - |
| Cash at bank and in hand54/58 | €304,323 | €365,066 | €299,996 | €112,285 | - |
| Deferred charges and accrued income490/1 | - | - | - | €123,402 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €3.4m | €3.2m | €3.0m | €2.1m | - |
| Equity10/15 | €576,998 | €623,350 | -€37,177 | -€431,319 | - |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | - |
| Capital10 | - | - | - | €100,000 | - |
| Issued capital100 | - | - | - | €100,000 | - |
| Reserves13 | €109,171 | €109,171 | €109,171 | €109,171 | - |
| Non-distributable reserves130/1 | - | - | - | €10,709 | - |
| Legal reserve130 | - | - | - | €10,709 | - |
| Distributable reserves133 | - | - | - | €98,462 | - |
| Profit (loss) carried forward14 | €367,827 | €414,179 | -€246,348 | -€640,490 | - |
| Amounts payable17/49 | €2.8m | €2.6m | €3.0m | €2.5m | - |
| Amounts payable after more than one year17 | €617,863 | €498,170 | €495,558 | €231,923 | - |
| Financial debts170/4 | - | - | - | €190,403 | - |
| Other amounts payable178/9 | - | - | - | €41,521 | - |
| Amounts payable within one year42/48 | €2.0m | €2.0m | €2.4m | €2.3m | - |
| Current portion of amounts payable after more than one year42 | - | - | - | €551,699 | - |
| Trade debts44 | €1.7m | €1.3m | €1.5m | €1.1m | - |
| Suppliers440/4 | - | - | - | €1.1m | - |
| Taxes, remuneration and social security45 | - | - | - | €266,151 | - |
| Taxes450/3 | - | - | - | €228,086 | - |
| Remuneration and social security454/9 | - | - | - | €38,065 | - |
| Other amounts payable47/48 | - | - | - | €340,762 | - |
| Accrued charges and deferred income492/3 | - | - | - | €2,705 | - |
| Line | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,198 | €46,352 | -€660,527 | €118,116 | - |
| + Depreciation and write-downs630 | €166,285 | €179,330 | €163,421 | €105,395 | - |
| Operating cash flow (approximation) | €141,087 | €225,682 | -€497,106 | €223,512 | - |
| Investment in fixed assets (approximation) | - | -€119,380 | -€22,880 | - | - |
| Change in cash | - | €60,743 | -€65,070 | - | - |
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
25-03
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Mons · event 18-03-2024
2023
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-01
Financial
Back to profitnet €118,116
Net result €118,116 after one loss-making year.
2021
26-10
Judicial reorganisation
Opening
Tribunal de l’entreprise du Brabant wallon · amicable agreement · event 18-10-2021
04-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-01
Financial
Weakest financial yearnet -€660,527
Net result drops to -€660,527, the lowest in the series.
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-01
Financial
Back to profitnet €46,352
Net result €46,352 after one loss-making year.
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 26 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Show earlier events
2015
07-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2014
06-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2013
12-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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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Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Brussel · 12 establishment units since 1983
Ground area
30.8 ha
Building footprint
15.5 ha
Volume, LiDAR
1,475,980 m³
12 parcels, Brussels, Flanders, Wallonia · tallest building 32.4 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
12 establishment units
Nieuwstraat 46, 1000 Brussel
since 19832.314.288.158
KEN
since 19832.019.545.641
KEN
since 19942.019.547.027
SIC
since 19942.019.546.037
K E N
since 20002.019.546.631
KEN
since 20032.165.767.005
Show 6 more locations
Wijnegem Shoppingcenter
since 20062.218.573.013
Ken Shoe Fashion
since 20092.329.498.649
Ken Shoe Fashion
since 20152.306.449.370
Framaco sa
since 20212.312.732.990
Ken Shoe Fashion Hasselt
since 20232.341.551.789
Ken Shoe Fashion Docks Bruxsel
since 20232.341.551.987
12 parcels
Flanders
6
(50%)
Wallonia
3
(25%)
Brussels
3
(25%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46445D1155/00R000 | Flanders | 10.8 ha | 1 · 5.0 ha | 18.2 m · 2 fl. |
| 11050B0010/00E002 | Flanders | 5.6 ha | 1 · 4.9 ha | 27.4 m · 4 fl. |
| 34352B0962/00W000 | Flanders | 4.9 ha | 1 · 1.5 ha | - |
| 21813F0608/00M000 | Brussels | 4.0 ha | 1 · 2.1 ha | 30.4 m · 6 fl. |
| 11463D0281/00P000 | Flanders | 2.8 ha | 1 · 7,757 m² | 10.1 m · 3 fl. |
| 25744D0293/00R003 | Wallonia | 7,876 m² | 1 · 860 m² | 17.9 m · 5 fl. |
| 21001A0392/00V000 | Brussels | 7,228 m² | 1 · 1,611 m² | 20.4 m · 6 fl. |
| 62817B0604/00D002 | Wallonia | 6,611 m² | 1 · 4,730 m² | 25.6 m · 5 fl. |
| 44802B1675/00S000 | Flanders | 4,806 m² | 1 · 4,801 m² | - |
| 21802B0357/00B000 | Brussels | 152 m² | 1 · 151 m² | 32.4 m · 6 fl. |
| 71022H0193/00B000 | Flanders | 140 m² | 1 · 138 m² | 17.2 m · 4 fl. |
| 92094C1512/00A000 | Wallonia | 61 m² | 1 · 46 m² | 18.9 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
12 of 12 parcels 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 | TONY BELLAVIA AVENUE DES EXPOSITIONS, 8A,
7000 MONS- .
Date provisoire de cessation de paiement : 18/03/2024 |
18-03-2024 → present |
Recognitions · licences · registrations
Dual-learning approval
3 endedWinkelbediende (so)
Winkelmedewerker (vwo)
Winkelmedewerker duaal (so)
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Of 411 companies in sector 47722 we hold annual accounts for 166. 106 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded26-10-1981
Fiscal year end31-01
Activities, NACEBEL 2025
47722Retail trade
Contact
E-mail
framaco@myonline.beWijnegem
Phone
03/ 326 11 33Wijnegem
Website
www.kenshoefashion.beLiège
E-mail
evi@kenshoefashion.beLiège
Scores and ratios are computed by Checked and are not a credit decision.