Summary
Conclusion
the dossier summarised in one paragraphA bankruptcy procedure is open for FUN NOORD according to publications in the Belgian State Gazette. The 2022 annual accounts show negative equity (€-2.75M) and a net result of €-273k.
Based on the State Gazette, CBE and 5 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneBankruptcy 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 events21-02-2024
Bankruptcy
Opening
Signals
Insufficient current data: the most recent filed accounts (financial year 2022) are too old to derive current signals.
Filing behaviour
From the deposit records, complete market-wideFiling 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.
Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 24-07-2023, 7 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. 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 31-12-2022, that is 31-07-2023.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | nothing on record | not filed | - |
| 31-12-2023 | 31-07-2024 | nothing on record | not filed | - |
| 31-12-2022 | 31-07-2023 | 24-07-2023 | 7 d early | 2023-00274429 |
| 31-12-2021 | 31-07-2022 | 14-07-2022 | 17 d early | 2022-20197294 |
| 31-12-2020 | 31-07-2021 | 07-07-2021 | 24 d early | 2021-33100598 |
| 31-12-2019 | 31-07-2020 | 29-06-2020 | 32 d early | 2020-23200436 |
| 31-12-2018 | 31-07-2019 | 20-06-2019 | 41 d early | 2019-21400018 |
| 31-12-2017 | 31-07-2018 | 03-07-2018 | 28 d early | 2018-28200372 |
| 31-12-2016 | 31-07-2017 | 23-06-2017 | 38 d early | 2017-21000111 |
| 31-12-2015 | 31-07-2016 | 27-06-2016 | 34 d early | 2016-22400171 |
| 31-12-2014 | 31-07-2015 | 28-07-2015 | 3 d early | 2015-36000040 |
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 signalsRegister: 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
Turnover€837k+42.8%
EBIT margin-17.1%+29.0pp
Net result€-273k-56.5%
Working capital€-448k+81.9%
Directors3
Annual accounts & ratios
Source: NBB · 2022Annual accounts filed on 24-07-2023 with the NBB · fiscal year 2022 · verkort
Sector comparison
Fiscal year 2022 · NACE 47, Retail trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -110099.0% | 23.6% | |
| Net result | €-273k | €26k | |
| Equity | €-2.75M | €147k | |
| Gross operating margin | €760k | €198k | |
| Staff costs | €976k | €138k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P5
Stable position over 2020-2022
· n=536-904
P5
Stable position over 2020-2022
· n=536-905
P5
Stable position over 2020-2022
· n=536-905
P95
Stable position over 2020-2022
· n=409-662
Describes the position versus peers, not a forecast.
€837k
+42.8%
18-22
€-273k
-56.5%
18-22
€2k
-87.6%
18-22
€-2.75M
-11.0%
18-22
€-448k
+81.9%
18-22
23
-1.3%
18-22
€976k
+5.3%
18-22
€725
+17.5%
18-22
€2.75M
+10.2%
18-22
€450k
-82.0%
18-22
€2.30M
-
18-22
0.01
-31.4%
18-22
0.01
-31.4%
18-22
-110099.0%
-797.4%
18-22
-1.00
+0.7%
18-22
9.9%
+41.0%
18-22
-10917.3%
-1165.1%
18-22
-20.8%
+94.9%
18-22
Figures by fiscal year
| Fiscal year | 2022 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | - |
| Net profit | €-273k |
| Cash flow | - |
| Staff costs | €976k |
| Income taxes | €725 |
| Dividends | - |
| Total assets | €2k |
| Equity | €-2.75M |
| Debt | €2.75M |
| of which ≤ 1y | €450k |
| of which > 1y | €2.30M |
| Working capital | €-448k |
| Employees (FTE) | 23.4 |
Ratios (computed)
| 2022 | |
|---|---|
| Current ratio | 0.01 |
| Quick ratio | 0.01 |
| Working capital ratio | -17933.2% |
| Solvency | -110099.0% |
| Debt / equity | -1.00 |
| Long-term debt ratio | -0.84 |
| Interest coverage | - |
| Gross margin | - |
| Net margin | - |
| ROA | -10917.3% |
| ROE | 9.9% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2022 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €2k |
| Current assets | 29/58 | €2k |
| Cash & bank | 54/58 | €2k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2k |
| Equity | 10/15 | €-2.75M |
| Contributions / capital | 10/11 | €62k |
| Reserves | 13 | €6k |
| Accumulated profits (losses) | 14 | €-2.82M |
| Amounts payable | 17/49 | €2.75M |
| Amounts payable after one year | 17 | €2.30M |
| Amounts payable within one year | 42/48 | €450k |
| Trade debts payable within one year | 44 | €59k |
| Income statement | ||
| Gross operating margin | 9900 | €760k |
| Operating result | 9901 | €-219k |
| Financial income | 75 | €330 |
| Financial charges | 65 | €53k |
| Result before taxes | 9903 | €-272k |
| Income taxes | 67/77 | €725 |
| Net result for the period | 9904 | €-273k |
| Result to be appropriated | 9905 | €-273k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2022 · computed0
/ 100
Critical
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 2022 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Directors
Directors & mandates
under verificationDirectors derived from a single State Gazette act, under verification
All 3 current directors first appear in the same act (22147621). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.
Current directors & mandates
-
BV Algreer ConsultingLegal entityDirector· perm. rep.: Délia GentiliniState Gazette act 22147621 (14-12-2022)Current30-09-2022 → present
-
BV Blue VisionLegal entityDirector· perm. rep.: Nicolas MarchandState Gazette act 22147621 (14-12-2022)Current30-09-2022 → present
-
BV PargecoLegal entityManaging director· perm. rep.: Thomas MarchandiseState Gazette act 22147621 (14-12-2022)Current30-09-2022 → present
Former directors (2)
-
BV NielsatorLegal entityDirector· perm. rep.: Antoine MettensState Gazette act 22147621 (14-12-2022)Former- → 30-09-2022
-
BV ValincoLegal entityDirector· perm. rep.: Thierry QuertinmontState Gazette act 22147621 (14-12-2022)Former- → 30-09-2022
2 events
- 30-09-2022 Resigned· Director
- 30-09-2022 Resigned· Managing director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
3 mandates| Role | Name | Tenure | Source |
|---|---|---|---|
| Curator | RIK CRIVITS EZELSTRAAT 25, 8000 BRUGGE- |
16-02-2024 → present | Belgian State Gazette |
| Curator | ASTRID LESCOUHIER EZEL-
STRAAT 25, 8000 BRUGGE |
16-02-2024 → present | Belgian State Gazette |
| Curator | JENS VREBOS EZELSTRAAT 25, 8000 BRUGGE- |
16-02-2024 → present | Belgian State Gazette |
Legal Structure
| NACE primary | Detailhandel in spellen en speelgoed(47640) |
| Legal form | Public limited company(014) |
| Incorporation | 24-12-2002 |
| Status | Active |
| Postal code | 8200 |
| First BS signal | 21-02-2024 |
| Latest BS signal | 21-02-2024 |
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.
3 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 BankCannot 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.
Koning Albert I-laan 2448200 BruggeEstablishment units
6 locationsFun Noord
since 20062.151.039.336
Fun Noord
since 20062.151.039.534
Fun Noord
since 20062.151.040.227
Fun Noord
since 20062.151.040.425
FUN (Westpark Veurne)
since 20222.334.992.710
Fun Noord
since 20232.346.429.505
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels7
Ground area4.2 ha
Buildings7
Building footprint1.4 ha
Volume (LiDAR)14,180 m³
Tallest building17.9 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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
7
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025C0078/00M000 | Flanders | 2.4 ha | 1 · 5,365 m² | 4.5 m |
| 35020A0323/00S002 | Flanders | 5,896 m² | 1 · 2,897 m² | - |
| 44062B0009/00C003 | Flanders | 5,214 m² | 1 · 2,566 m² | - |
| 31030A0675/04N000 | Flanders | 4,199 m² | 1 · 1,545 m² | - |
| 31522B0577/00C003 | Flanders | 1,270 m² | 1 · 855 m² | 13.0 m · 3 fl. |
| 31001B1374/00S000 | Flanders | 990 m² | 1 · 289 m² | 17.9 m · 3 fl. |
| 31027D0524/00A003 | Flanders | 64 m² | 1 · 625 m² | 11.0 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 6
7 of 7 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Publications
Lifecycle & Insolvency Signals
1 event from the State Gazette21-02-2024
Bankruptcy
Opening
Time machine: BS events + macro context
2021-2026Macro 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 3 years ago
2022
14-12-2022 6 directors appointed, 3 resigning, 1 reappointed
- Nicolas Marchand, Bestuurder
- Délia Gentilini, Bestuurder
- Thomas Marchandise, Gedelegeerd bestuurder
- Dries Bertrem, Dagelijks bestuur
- BV Lievens Accountancy Services, Dagelijks bestuur
- BV Lievens Accountancy Services, Dagelijks bestuur
- Antoine Mettens, Bestuurder
- Thierry Quertinmont, Bestuurder
Analysis
Snowflake analysis
financial profile on 5 axes27
/ 100
Fragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Health
0
Profitability
50
Solvency
33
Growth
51
Stability
0
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Company registry
Company registry (CBE)
Crossroads BankActivities
Detailhandel in spellen en speelgoed47640Detailhandel in spellen en speelgoed in gespecialiseerde winkels47650Handelsbemiddeling gespecialiseerd in andere goederen46180Handelsbemiddeling in de groothandel in andere specifieke goederen46180
Primary activity highlighted.
Names & trade names
| Legal nameNL | FUN NOORD |
Registered office
Koning Albert I-laan 244
8200 Brugge, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.