FTS
InactiveFTS was declared bankrupt on 20-12-2021 (Ondernemingsrechtbank Gent, afdeling Brugge); the bankruptcy was closed by liquidation by judgment of 05-05-2025, published in the Belgian State Gazette on 09-05-2025.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
○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 · 10 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 30-08-2021, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
30 d late
2019
115 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2020, abbreviated schema
Equity
€15k▼ 90.2%
2019 · €156k
2018: €290khighest in 3 years
2019: €156k▼ -46.2% vs 2018
2020: €15k▼ -90.2% vs 2019lowest in 3 years
2018 → 2020
Total assets
€228k▼ 45.3%
2019 · €417k
2018: €482khighest in 3 years
2019: €417k▼ -13.6% vs 2018
2020: €228k▼ -45.3% vs 2019lowest in 3 years
2018 → 2020
Net result
€-141k▼ 5.0%
2019 · €-134k
2018: €-25khighest in 3 years
2019: €-134k▼ -433% vs 2018
2020: €-141k▼ -5.0% vs 2019lowest in 3 years
2018 → 2020
Working capital
€-137k▼ 15.0%
2019 · €-119k
2018: €-69khighest in 3 years
2019: €-119k▼ -72.4% vs 2018
2020: €-137k▼ -15.0% vs 2019lowest in 3 years
2018 → 2020
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201820192020Trend
Equity€290k-€156k▼ 46.2%€15k▼ 90.2%
2018: €290khighest in 3 years
2019: €156k▼ -46.2% vs 2018
2020: €15k▼ -90.2% vs 2019lowest in 3 years
Operating result€-18k-€-122k▼ 573%€-126k▼ 3.1%
2018: €-18khighest in 3 years
2019: €-122k▼ -573% vs 2018
2020: €-126k▼ -3.1% vs 2019lowest in 3 years
Net result€-25k-€-134k▼ 433%€-141k▼ 5.0%
2018: €-25khighest in 3 years
2019: €-134k▼ -433% vs 2018
2020: €-141k▼ -5.0% vs 2019lowest in 3 years
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 €126k in 2020 against €122k in 2019; the loss grows and 2020 has the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €228k
Fixed assets
€152k ▼ 44.7%
Current assets
€76k ▼ 46.6%
Equity and liabilities €228k
Equity
€15k ▼ 90.2%
Debt
€212k ▼ 18.5%
Debt's share of the balance-sheet total rises from 62.6% to 93.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-3k▼
2019 · €10k
Cash flow
€-18k▼
2019 · €-1k
Current ratio
0.36▼
2019 · 0.54
ROE
-919.9%▼
2019 · -85.9%
ROA
-61.8%▼
2019 · -32.1%
Debt ≤ 1 year
€212k▼
2019 · €261k
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 · 23 lines
Balance sheet
Code20192020
Assets
Total assets20/58€417k€228k▼
Fixed assets21/28€275k€152k▼
Tangible fixed assets22/27€275k€152k▼
Current assets29/58€142k€76k▼
Amounts receivable within one year40/41€141k€75k▼
Cash at bank and in hand54/58€658€262▼
Equity and liabilities
Total equity and liabilities10/49€417k€228k▼
Equity10/15€156k€15k▼
Contributions10/11€308k-
Reserves13€31k€31k=
Profit (loss) carried forward14€-183k€-324k▼
Amounts payable17/49€261k€212k▼
Amounts payable within one year42/48€261k€212k▼
Trade debts44€1k€3k▲
Income statement
Code20192020
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€132k€123k▼
Gross operating margin9900€114k€-3k▼
Operating profit (loss)9901€-122k€-126k▼
Recurring financial income75€5k-
Recurring financial charges65€3k€15k▲
Profit (loss) for the period before taxes9903€-120k€-141k▼
Income taxes67/77€14k-
Profit (loss) for the period9904€-134k€-141k▼
Profit (loss) for the period to be appropriated9905€-134k€-141k▼
Accounts by statement
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €132k | €123k | ▼ 7.3% |
| Gross operating margin9900 | €165k | €114k | €-3k | ▼ 103% |
| Operating profit (loss)9901 | €-18k | €-122k | €-126k | ▼ 3.1% |
| Recurring financial income75 | - | €5k | - | - |
| Recurring financial charges65 | €7k | €3k | €15k | ▲ 373% |
| Profit (loss) for the period before taxes9903 | €-25k | €-120k | €-141k | ▼ 17.0% |
| Income taxes67/77 | - | €14k | - | - |
| Profit (loss) for the period9904 | €-25k | €-134k | €-141k | ▼ 5.0% |
| Profit (loss) for the period to be appropriated9905 | €-25k | €-134k | €-141k | ▼ 5.0% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €482k | €417k | €228k | ▼ 45.3% |
| Fixed assets21/28 | €359k | €275k | €152k | ▼ 44.7% |
| Tangible fixed assets22/27 | €359k | €275k | €152k | ▼ 44.7% |
| Current assets29/58 | €123k | €142k | €76k | ▼ 46.6% |
| Amounts receivable within one year40/41 | €123k | €141k | €75k | ▼ 46.6% |
| Cash at bank and in hand54/58 | €544 | €658 | €262 | ▼ 60.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €482k | €417k | €228k | ▼ 45.3% |
| Equity10/15 | €290k | €156k | €15k | ▼ 90.2% |
| Contributions10/11 | €308k | €308k | - | - |
| Reserves13 | €31k | €31k | €31k | = |
| Profit (loss) carried forward14 | €-49k | €-183k | €-324k | ▼ 76.9% |
| Amounts payable17/49 | €192k | €261k | €212k | ▼ 18.5% |
| Amounts payable within one year42/48 | €192k | €261k | €212k | ▼ 18.5% |
| Trade debts44 | €22k | €1k | €3k | ▲ 145% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-25k | €-134k | €-141k | ▼ 5.0% |
| + Depreciation and write-downs630 | - | €132k | €123k | ▼ 7.3% |
| Operating cash flow (approximation) | €-25k | €-1k | €-18k | ▼ 1,105% |
| Investment in fixed assets (approximation) | - | €-49k | €0 | ▲ 100% |
| Change in cash | - | €114 | €-396 | ▼ 446% |
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
09-05
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Brugge · event 05-05-2025
2021
27-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · event 20-12-2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €-141k
Net result drops to €-141k, the lowest in the series.
23-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 115 days late
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 126 days late
2017
08-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
2014
03-11
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 95 days late
2013
25-11
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 117 days late
2012
08-03
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated 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.
Have them read with priority
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BERT BERT KOMVEST 29, 8000 BRUGGE- |
20-12-2021 → 05-05-2025 |