FUNWEAR
InactiveFUNWEAR was declared bankrupt on 07-09-2023 (Ondernemingsrechtbank Leuven); the bankruptcy was closed by liquidation by judgment of 16-07-2024, published in the Belgian State Gazette on 22-07-2024.
No longer registered with the KBO; last annual accounts for fiscal year 2022.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline21-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 04-09-2023, 35 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
35 d late
2021
31 d late
2020
67 d late
2019
34 d late
← before the deadline
after the deadline →
Financials · fiscal year 2022, micro schema
Turnover
€2.26M▼ 26.5%
2019 · €3.07M
2018: €3.05M
2019: €3.07M
2018 → 2020
EBIT margin
1.0%▲ 0.4pp
2019 · 0.6%
2018: 5.2%
2019: 0.6%
2018 → 2020
Net result
€-417k
2021 · €10k
2018: €138k
2019: €-16k
2020: €-36k
2021: €10k
2018 → 2022
Working capital
€589k▼ 41.1%
2021 · €1.00M
2018: €608k
2019: €672k
2020: €760k
2021: €1.00M
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€3.05M-€3.07M▲ 0.5%€2.26M▼ 26.5%
Equity€719k-€703k▼ 2.2%€668k▼ 5.1%€677k▲ 1.5%€260k▼ 61.6%
Operating result€159k-€18k▼ 88.9%€22k▲ 26.5%€26k▲ 14.3%€-490k
Net result€138k-€-16k€-36k▼ 123%€10k€-417k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €490k after €26k in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.62M
Fixed assets
€190k▲ 5.3%
Current assets
€1.43M▼ 23.4%
Equity and liabilities €1.62M
Equity
€260k▼ 61.6%
Debt
€1.36M▼ 0.7%
The debt ratio rises from 66.8% to 83.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-422k▼
2021 · €103k
Cash flow
€-350k▼
2021 · €87k
Solvency
16.1%▼
2021 · 33.2%
Current ratio
1.70▼
2021 · 2.16
Quick ratio
0.37▼
2021 · 1.13
Debt / equity
5.21▲
2021 · 2.02
ROE
-160.4%▼
2021 · 1.5%
ROA
-25.8%▼
2021 · 0.5%
Interest coverage
-6.83▼
2021 · 5.48
Debt
€1.36M▼
2021 · €1.37M
Debt ≤ 1 year
€838k▼
2021 · €863k
Debt > 1 year
€518k▲
2021 · €503k
Income taxes
€146▼
2021 · €986
Staff costs
€1.08M▲
2021 · €683k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2022 against 2021
Balance sheet
Code20212022
Assets
Total assets20/58€2.04M€1.62M▼
Fixed assets21/28€180k€190k▲
Intangible fixed assets21€9k€3k▼
Tangible fixed assets22/27€159k€175k▲
Land and buildings22€31k€31k▼
Plant, machinery and equipment23€7k€25k▲
Furniture and vehicles24€7k€2k▼
Other tangible fixed assets26€114k€116k▲
Financial fixed assets28€12k€12k=
Current assets29/58€1.86M€1.43M▼
Stocks and contracts in progress3€889k€1.11M▲
Stocks30/36€889k€1.11M▲
Amounts receivable within one year40/41€642k€137k▼
Trade receivables40€607k€129k▼
Other amounts receivable41€35k€8k▼
Current investments50/53€37k€37k=
Cash at bank and in hand54/58€175k€130k▼
Deferred charges and accrued income490/1€120k€10k▼
Equity and liabilities
Total equity and liabilities10/49€2.04M€1.62M▼
Equity10/15€677k€260k▼
Contributions10/11€602k€602k=
Outside capital11€602k€602k=
Share premium1100/10€602k€602k=
Reserves13€79k€84k▲
Non-distributable reserves130/1€12k€12k=
Reserves not available under the articles1311€12k€12k=
Tax-exempt reserves132€2k€7k▲
Distributable reserves133€65k€65k=
Profit (loss) carried forward14€-3k€-425k▼
Amounts payable17/49€1.37M€1.36M▼
Amounts payable after more than one year17€503k€518k▲
Financial debts170/4€503k€518k▲
Amounts payable within one year42/48€863k€838k▼
Current portion of amounts payable after more than one year42€85k€45k▼
Financial debts43€13k€24k▲
Credit institutions430/8€13k€24k▲
Trade debts44€484k€547k▲
Suppliers440/4€484k€547k▲
Taxes, remuneration and social security45€226k€221k▼
Taxes450/3€97k€139k▲
Remuneration and social security454/9€129k€82k▼
Other amounts payable47/48€55k-
Income statement
Code20212022
Remuneration, social security and pensions62€683k€1.08M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€77k€68k▼
Other operating charges640/8€29k€44k▲
Non-recurring operating charges66A€7k-
Gross operating margin9900€822k€698k▼
Operating profit (loss)9901€26k€-490k▼
Financial income75/76B€4k€134k▲
Recurring financial income75€4k€1k▼
Non-recurring financial income76B-€133k
Financial charges65/66B€19k€62k▲
Recurring financial charges65€19k€62k▲
Profit (loss) for the period before taxes9903€11k€-417k▼
Income taxes67/77€986€146▼
Profit (loss) for the period9904€10k€-417k▼
Transfer to tax-exempt reserves689-€5k
Profit (loss) for the period to be appropriated9905€10k€-422k▼
Appropriation of the result
Profit (loss) to be appropriated9906€7k€-425k▼
Profit (loss) brought forward from the previous period14P€-3k€-3k=
Transfer to equity691/2€10k-
To other reserves6921€10k-
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
22-07
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Leuven · FUNWEAR NV WINGEPARK 55/C, 3110 ROTSELAAR · event 16-07-2024
2023
19-09
Bankruptcy
Opening
Ondernemingsrechtbank Leuven · FUNWEAR NV WINGE- PARK 55/C, 3110 ROTSELAAR · event 07-09-2023
04-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 35 days late
2022
31-12
Financial
Weakest financial yearnet €-417k ▼4335%
Net result drops to €-417k, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €10k
Net result €10k after 2 loss-making years.
06-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 67 days late
2020
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 34 days late
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 120 days late
2017
26-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 87 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
2015
23-06
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
30-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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
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.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | KARL VANSTIPELEN STATIONSSTRAAT 108A,
3400 LANDEN |
07-09-2023 → present |
| Curator | WINNY
TIRMARCHE STATIONSSTRAAT 108, 3400 LANDEN- |
07-09-2023 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 285 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 285 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)