GETECH - UNDERSTANDABLE
InactiveGETECH - UNDERSTANDABLE was declared bankrupt on 26-07-2022 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed by liquidation by judgment of 02-01-2024, published in the Belgian State Gazette on 10-01-2024.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three 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 31-03-2022, 4 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
31-03-2022 close31-10-2022 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2021 was due by 31-10-2021 and was filed on 26-10-2021, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
5 d early
2020
24 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 6 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2021, micro schema
Equity
€276,323▲ 2.2%
2020 · €270,450
Total assets
€369,914▼ 7.1%
2020 · €398,022
Net result
€5,873▲ 62.6%
2020 · €3,612
Working capital
€274,552▲ 1.5%
2020 · €270,571
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
Line201920202021
Operating result-€27,944-€5,570€2,407▼ 56.8%
Net result-€7,139-€3,612€5,873▲ 62.6%
Equity€266,838-€270,450▲ 1.4%€276,323▲ 2.2%
Total assets€392,685-€398,022▲ 1.4%€369,914▼ 7.1%
Debt€125,846-€127,572▲ 1.4%€93,591▼ 26.6%
Working capital€259,606-€270,571▲ 4.2%€274,552▲ 1.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2021; 2021 is 57% below 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €369,914
Fixed assets
€2,316 ▼ 50.0%
Current assets
€367,599 ▼ 6.6%
Equity and liabilities €369,914
Equity
€276,323 ▲ 2.2%
Debt
€93,591 ▼ 26.6%
Debt's share of the balance-sheet total falls from 32.1% to 25.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€4,722▼
2020 · €8,292
Cash flow
€8,188▲
2020 · €6,334
Current ratio
3.95▲
2020 · 3.20
ROE
2.1%▲
2020 · 1.3%
ROA
1.6%▲
2020 · 0.9%
Debt ≤ 1 year
€93,047▼
2020 · €122,820
Income taxes
€3,673▼
2020 · €3,812
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,651 | €2,722 | €2,316 | ▼ 14.9% |
| Gross operating margin9900 | -€21,863 | €9,449 | €4,935 | ▼ 47.8% |
| Operating profit (loss)9901 | -€27,944 | €5,570 | €2,407 | ▼ 56.8% |
| Recurring financial income75 | €23,474 | €15,075 | €14,064 | ▼ 6.7% |
| Recurring financial charges65 | €2,302 | €13,222 | €6,925 | ▼ 47.6% |
| Profit (loss) for the period before taxes9903 | -€6,772 | €7,424 | €9,545 | ▲ 28.6% |
| Income taxes67/77 | €367 | €3,812 | €3,673 | ▼ 3.7% |
| Profit (loss) for the period9904 | -€7,139 | €3,612 | €5,873 | ▲ 62.6% |
| Profit (loss) for the period to be appropriated9905 | -€7,139 | €3,612 | €5,873 | ▲ 62.6% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €392,685 | €398,022 | €369,914 | ▼ 7.1% |
| Fixed assets21/28 | €7,353 | €4,631 | €2,316 | ▼ 50.0% |
| Tangible fixed assets22/27 | €7,353 | €4,631 | €2,316 | ▼ 50.0% |
| Current assets29/58 | €385,332 | €393,391 | €367,599 | ▼ 6.6% |
| Amounts receivable within one year40/41 | €111,634 | €75,160 | €82,221 | ▲ 9.4% |
| Cash at bank and in hand54/58 | - | - | €1 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €392,685 | €398,022 | €369,914 | ▼ 7.1% |
| Equity10/15 | €266,838 | €270,450 | €276,323 | ▲ 2.2% |
| Contributions10/11 | €20,000 | - | - | - |
| Reserves13 | €4,576 | €8,188 | €14,060 | ▲ 71.7% |
| Profit (loss) carried forward14 | €242,263 | €242,263 | €242,263 | = |
| Amounts payable17/49 | €125,846 | €127,572 | €93,591 | ▼ 26.6% |
| Amounts payable within one year42/48 | €125,726 | €122,820 | €93,047 | ▼ 24.2% |
| Trade debts44 | €71,524 | €63,878 | €36,044 | ▼ 43.6% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,139 | €3,612 | €5,873 | ▲ 62.6% |
| + Depreciation and write-downs630 | €4,651 | €2,722 | €2,316 | ▼ 14.9% |
| Operating cash flow (approximation) | -€2,488 | €6,334 | €8,188 | ▲ 29.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
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
10-01
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 02-01-2024
2022
01-08
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 26-07-2022
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €5,873 ▲62.6%
Net result €5,873, the highest in the series.
2020
24-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
31-03
Financial
Back to profitnet €3,612
Net result €3,612 after one loss-making year.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
13-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
28-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
26-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
29-10
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2013
31-10
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2012
30-10
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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Directors · office · real estate
Directors
2 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 | VERA DE DIJCKER ROOSBLOEMSTRAAT 4,
9860 OOSTERZELE |
26-07-2022 → 02-01-2024 |