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Open bankruptcyFinancials · financial year 2024, micro format
2024 annual accounts filed 68 days after the deadline Filed on 7 October 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00537921.
Annual accounts 2024 filed on 07-10-2025 PDF all 4 filings
Equity
-€75,117
2023 · €30,530
Total assets
€700,064▲ 974%
2023 · €65,198
Net result
-€102,953▼ 655%
2023 · -€13,627
Working capital
-€94,183
2023 · €25,918
Multi-year overview
2021 to 2024, 4 financial yearsOperating result
-€102,716
▼ 1,427%
2024
20212024
Net result
-€102,953
▼ 655%
2024
lowest quarter of the sector
20212024
Equity
-€75,117
2024
lowest quarter of the sector
20212024
Total assets
€700,064
▲ 974%
2024
highest quarter of the sector
20212024
Debt
€775,181
▲ 22×
2024
20212024
Working capital
-€94,183
2024
lowest quarter of the sector
20212024
Solvency
-10.7%
▼ 57.6pp
2024
lowest quarter of the sector
20212024
Current ratio
0.88
▼ 0.87
2024
lowest quarter of the sector
20212024
Return on assets (ROA)
-14.7%
▲ 6.2pp
2024
lowest quarter of the sector
20212024
Staff (FTE)
2.2
▲ 69.2%
2024
20212024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2021202220232024
Operating result€12,766-€23,702▲ 85.7%-€6,729-€102,716▼ 1,427%
Net result€10,213within the sector's middle half-€20,569within the sector's middle half▲ 101%-€13,627below the sector's middle half-€102,953below the sector's middle half▼ 655%
Equity€13,213below the sector's middle half-€33,782within the sector's middle half▲ 156%€30,530within the sector's middle half▼ 9.6%-€75,117below the sector's middle half
Total assets€17,426below the sector's middle half-€96,752within the sector's middle half▲ 455%€65,198below the sector's middle half▼ 32.6%€700,064above the sector's middle half▲ 974%
Debt€4,213-€62,970▲ 15×€34,668▼ 44.9%€775,181▲ 22×
Working capital€13,213within the sector's middle half-€33,782within the sector's middle half▲ 156%€25,918within the sector's middle half▼ 23.3%-€94,183below the sector's middle half
Solvency75.8%above the sector's middle half-34.9%within the sector's middle half▼ 40.9pp46.8%within the sector's middle half▲ 11.9pp-10.7%below the sector's middle half▼ 57.6pp
Current ratio4.14above the sector's middle half-1.54within the sector's middle half▼ 2.601.75within the sector's middle half▲ 0.210.88below the sector's middle half▼ 0.87
Return on assets (ROA)58.6%above the sector's middle half-21.3%above the sector's middle half▼ 37.3pp-20.9%below the sector's middle half▼ 42.2pp-14.7%below the sector's middle half▲ 6.2pp
Staff (FTE)0.71.3▲ 85.7%2.2▲ 69.2%
above
within
below
The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a loss of €102,716, larger than the loss of €6,729 in 2023. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €700,064
Fixed assets
€19,066 ▲ 313%
Current assets
€680,998 ▲ 11×
Equity and liabilities
Equity-€75,117
Debt€775,181
Equity is negative. Debt (€775,181) exceeds the balance-sheet total (€700,064).
Key figures and ratios
EBITDA
-€101,923▼
2023 · -€5,302
Cash flow
-€102,159▼
2023 · -€12,201
Interest coverage
-215.14▼
2023 · -2.86
Debt ≤ 1 year
€775,181▲
2023 · €34,668
Income taxes
€125▼
2023 · €5,188
Staff costs
€83,496▲
2023 · €39,218
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 |
| full-time | 2 | 2 | 2 |
| in full-time equivalents | 2 | 2 | 2 |
| Average over the year, in full-time equivalents | 0.7 | 1.3 | 2.2 |
| On a permanent contract | 1 | 1 | 1 |
| Joined | 4 | 1 | 1 |
| Left | 0 | 1 | 1 |
Source: social balance sheet in the 2022 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €6,039 | €18,500 |
| Depreciation and write-downs of the year | - | - | €1,427 | €794 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €24,239 | €39,218 | €83,496 | ▲ 113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,427 | €794 | ▼ 44.4% |
| Other operating charges640/8 | €242 | - | - | €125 | - |
| Non-recurring operating charges66A | - | - | - | €1,519 | - |
| Gross operating margin9900 | €13,008 | €47,941 | €33,917 | -€16,783 | - |
| Operating profit (loss)9901 | €12,766 | €23,702 | -€6,729 | -€102,716 | ▼ 1,427% |
| Financial income75/76B | - | €2,074 | €145 | €362 | ▲ 150% |
| Recurring financial income75 | - | €2,074 | €145 | €362 | ▲ 150% |
| Financial charges65/66B | - | €65 | €1,855 | €474 | ▼ 74.5% |
| Recurring financial charges65 | - | €65 | €1,855 | €474 | ▼ 74.5% |
| Profit (loss) for the period before taxes9903 | €12,766 | €25,712 | -€8,439 | -€102,828 | ▼ 1,118% |
| Income taxes67/77 | €2,553 | €5,142 | €5,188 | €125 | ▼ 97.6% |
| Profit (loss) for the period9904 | €10,213 | €20,569 | -€13,627 | -€102,953 | ▼ 655% |
| Profit (loss) for the period to be appropriated9905 | €10,213 | €20,569 | -€13,627 | -€102,953 | ▼ 655% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €17,426 | €96,752 | €65,198 | €700,064 | ▲ 974% |
| Fixed assets21/28 | - | - | €4,612 | €19,066 | ▲ 313% |
| Tangible fixed assets22/27 | - | - | €4,612 | €19,066 | ▲ 313% |
| Plant, machinery and equipment23 | - | - | €733 | - | - |
| Furniture and vehicles24 | - | - | €3,879 | €19,066 | ▲ 392% |
| Current assets29/58 | €17,426 | €96,752 | €60,586 | €680,998 | ▲ 11× |
| Amounts receivable within one year40/41 | €6,170 | €94,094 | €60,429 | €680,879 | ▲ 11× |
| Trade receivables40 | - | €61,448 | €47,316 | €653,844 | ▲ 14× |
| Other amounts receivable41 | €6,170 | €32,646 | €13,113 | €27,035 | ▲ 106% |
| Cash at bank and in hand54/58 | €11,255 | €2,474 | €157 | €119 | ▼ 23.9% |
| Deferred charges and accrued income490/1 | - | €184 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €17,426 | €96,752 | €65,198 | €700,064 | ▲ 974% |
| Equity10/15 | €13,213 | €33,782 | €30,530 | -€75,117 | - |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Contributions outside capital11 | €3,000 | - | €3,000 | €3,000 | = |
| Other1109/19 | €3,000 | - | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €10,213 | €30,782 | €27,530 | -€78,117 | - |
| Amounts payable17/49 | €4,213 | €62,970 | €34,668 | €775,181 | ▲ 22× |
| Amounts payable within one year42/48 | €4,213 | €62,970 | €34,668 | €775,181 | ▲ 22× |
| Trade debts44 | €0 | €43,939 | €18,146 | €728,362 | ▲ 40× |
| Suppliers440/4 | - | €43,939 | €18,146 | €728,362 | ▲ 40× |
| Taxes, remuneration and social security45 | €2,553 | €19,031 | €16,522 | €34,233 | ▲ 107% |
| Taxes450/3 | €2,553 | €8,255 | €12,884 | €6,431 | ▼ 50.1% |
| Remuneration and social security454/9 | - | €10,776 | €3,639 | €27,802 | ▲ 664% |
| Other amounts payable47/48 | €1,659 | - | - | €12,586 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,213 | €20,569 | -€13,627 | -€102,953 | ▼ 655% |
| + Depreciation and write-downs630 | - | - | €1,427 | €794 | ▼ 44.4% |
| Operating cash flow (approximation) | €10,213 | €20,569 | -€12,201 | -€102,159 | ▼ 737% |
| Investment in fixed assets (approximation) | - | - | - | -€15,248 | - |
| Change in cash | - | -€8,781 | -€2,318 | -€37 | ▲ 98.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.