GOVRN
Open bankruptcyA bankruptcy procedure is open for GOVRN according to publications in the Belgian State Gazette; curator: SOPHIE HUART.
Summary
The 2024 annual accounts show equity of €1.1m and a net result of -€332,712.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Declared bankrupt
- 9 March 2026
- Supervising judge
- Fernand Maillard
- Official Gazette
- 14-04-2026 (pdf) ↗search the document for 2026/116144
Deadlines
- File the claim in RegSol until
- passed on 8 April 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 15 April 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Appeal or third-party opposition until
- passed on 29 April 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- Late claim until
- 9 March 2027Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Sophie HuartChaussee De Waterloo 880, 1000 Bruxellessophie.huart@sybarius.net
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
222324
2022 to 2024 · latest year -€332,712
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
on the day
2022
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 20 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Other software publishing sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€1.1m▼ 2.9%
2023 · €1.1m
Total assets
€1.6m▲ 10.8%
2023 · €1.5m
Net result
-€332,712▼ 25.1%
2023 · -€265,964
Working capital
€450,622▼ 15.2%
2023 · €531,381
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202220232024
Operating result-€390,911--€260,637▲ 33.3%-€354,281▼ 35.9%
Net result-€391,187below the sector's middle half--€265,964below the sector's middle half▲ 32.0%-€332,712below the sector's middle half▼ 25.1%
Equity€709,774above the sector's middle half-€1.1mabove the sector's middle half▲ 58.1%€1.1mabove the sector's middle half▼ 2.9%
Total assets€879,336above the sector's middle half-€1.5mabove the sector's middle half▲ 65.8%€1.6mabove the sector's middle half▲ 10.8%
Debt€169,562-€335,706▲ 98.0%€526,105▲ 56.7%
Working capital€181,234-€531,381▲ 193%€450,622▼ 15.2%
Solvency80.7%above the sector's middle half-77.0%above the sector's middle half▼ 3.7pp67.4%within the sector's middle half▼ 9.5pp
Staff (FTE)1.2-0.3▼ 75.0%0.2▼ 33.3%
above
within
below
the middle half (P25 to P75) of NACE 58, Publishing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €354,281 in 2024 against €260,637 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.6m
Fixed assets
€956,904 ▲ 30.0%
Current assets
€654,672 ▼ 9.0%
Equity and liabilities €1.6m
Equity
€1.1m ▼ 2.9%
Debt
€526,105 ▲ 56.7%
Debt's share of the balance-sheet total rises from 23.0% to 32.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€243,728▼
2023 · -€186,182
Cash flow
-€222,158▼
2023 · -€191,509
Current ratio
3.21▼
2023 · 3.83
Debt to equity
0.48▲
2023 · 0.30
ROE
-30.5%▼
2023 · -23.7%
ROA
-20.6%▼
2023 · -18.2%
Interest coverage
-13.33▲
2023 · -14.86
Debt ≤ 1 year
€204,050▲
2023 · €187,959
Debt > 1 year
€265,589▲
2023 · €95,471
Staff costs
€194▼
2023 · €11,217
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €32,627 | €11,217 | €194 | ▼ 98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,296 | €74,455 | €110,553 | ▲ 48.5% |
| Other operating charges640/8 | €695 | €1,682 | €968 | ▼ 42.5% |
| Gross operating margin9900 | -€294,293 | -€173,283 | -€242,566 | ▼ 40.0% |
| Operating profit (loss)9901 | -€390,911 | -€260,637 | -€354,281 | ▼ 35.9% |
| Financial income75/76B | €385 | €7,201 | €39,856 | ▲ 454% |
| Recurring financial income75 | €385 | €7,201 | €39,856 | ▲ 454% |
| Financial charges65/66B | €661 | €12,528 | €18,286 | ▲ 46.0% |
| Recurring financial charges65 | €661 | €12,528 | €18,286 | ▲ 46.0% |
| Profit (loss) for the period before taxes9903 | -€391,187 | -€265,964 | -€332,712 | ▼ 25.1% |
| Profit (loss) for the period9904 | -€391,187 | -€265,964 | -€332,712 | ▼ 25.1% |
| Profit (loss) for the period to be appropriated9905 | -€391,187 | -€265,964 | -€332,712 | ▼ 25.1% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €879,336 | €1.5m | €1.6m | ▲ 10.8% |
| Formation expenses20 | €4,087 | €2,965 | €4,528 | ▲ 52.7% |
| Fixed assets21/28 | €540,244 | €735,893 | €956,904 | ▲ 30.0% |
| Intangible fixed assets21 | €536,833 | €732,325 | €954,410 | ▲ 30.3% |
| Tangible fixed assets22/27 | €3,182 | €3,339 | €2,265 | ▼ 32.2% |
| Furniture and vehicles24 | €3,182 | €3,339 | €2,265 | ▼ 32.2% |
| Financial fixed assets28 | €229 | €229 | €229 | = |
| Current assets29/58 | €335,005 | €719,339 | €654,672 | ▼ 9.0% |
| Amounts receivable within one year40/41 | €27,940 | €386,633 | €482,997 | ▲ 24.9% |
| Trade receivables40 | - | €15,734 | €13,692 | ▼ 13.0% |
| Other amounts receivable41 | €27,940 | €370,899 | €469,306 | ▲ 26.5% |
| Cash at bank and in hand54/58 | €289,639 | €330,544 | €149,538 | ▼ 54.8% |
| Deferred charges and accrued income490/1 | €17,427 | €2,163 | €22,137 | ▲ 924% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €879,336 | €1.5m | €1.6m | ▲ 10.8% |
| Equity10/15 | €709,774 | €1.1m | €1.1m | ▼ 2.9% |
| Contributions10/11 | €1.1m | €1.3m | €1.6m | ▲ 26.1% |
| Capital10 | €599,040 | €635,337 | €975,337 | ▲ 53.5% |
| Issued capital100 | €599,040 | €635,337 | €975,337 | ▲ 53.5% |
| Outside capital11 | €501,922 | €665,625 | €665,625 | = |
| Share premium1100/10 | €501,922 | €665,625 | €665,625 | = |
| Profit (loss) carried forward14 | -€391,187 | -€657,152 | -€989,864 | ▼ 50.6% |
| Investment grants15 | - | €478,682 | €438,902 | ▼ 8.3% |
| Amounts payable17/49 | €169,562 | €335,706 | €526,105 | ▲ 56.7% |
| Amounts payable after more than one year17 | - | €95,471 | €265,589 | ▲ 178% |
| Financial debts170/4 | - | €95,471 | €265,589 | ▲ 178% |
| Amounts payable within one year42/48 | €153,771 | €187,959 | €204,050 | ▲ 8.6% |
| Current portion of amounts payable after more than one year42 | - | €31,254 | €32,327 | ▲ 3.4% |
| Financial debts43 | €902 | €250 | €4,140 | ▲ 1,555% |
| Credit institutions430/8 | €902 | €250 | €4,140 | ▲ 1,555% |
| Trade debts44 | €142,590 | €119,267 | €44,948 | ▼ 62.3% |
| Suppliers440/4 | €142,590 | €119,267 | €44,948 | ▼ 62.3% |
| Taxes, remuneration and social security45 | €3,716 | €0 | €14 | - |
| Remuneration and social security454/9 | €3,716 | €0 | €14 | - |
| Other amounts payable47/48 | €6,562 | €37,188 | €122,622 | ▲ 230% |
| Accrued charges and deferred income492/3 | €15,791 | €52,277 | €56,466 | ▲ 8.0% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€391,187 | -€265,964 | -€332,712 | ▼ 25.1% |
| + Depreciation and write-downs630 | €63,296 | €74,455 | €110,553 | ▲ 48.5% |
| Operating cash flow (approximation) | -€327,892 | -€191,509 | -€222,158 | ▼ 16.0% |
| Investment in fixed assets (approximation) | - | -€270,104 | -€331,564 | ▼ 22.8% |
| Change in cash | - | €40,905 | -€181,005 | ▼ 543% |
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
2026
14-04
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 09-03-2026
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €1mEq €1.1m ▲58.1%
Equity rises from €709,774 to €1.1m.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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
Registered office, Brussel · 2 establishment units since 2021
Ground area
10.6 ha
Building footprint
2,278 m²
Volume, LiDAR
77,700 m³
3 parcels, Brussels, Wallonia · tallest building 52.5 m, ±16 floors. Linked by address, not a title deed.
27
companies at this address
See who is registered here
2 establishment units
Roger Vandendriesschelaan 18, 1150 Sint-Pieters-Woluwe
since 20212.311.979.756
Avenue Reine Astrid 92, 1310 La Hulpe
since 20212.329.570.311
3 parcels
Wallonia
1
(33.3%)
Brussels
2
(66.7%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25050C0039/00K000 | Wallonia | 10.1 ha | 1 · 113 m² | 14.1 m · 3 fl. |
| 21004A1360/00E000 | Brussels | 2,954 m² | 1 · 1,461 m² | 52.5 m · 16 fl. |
| 21019A0188/00Z006 | Brussels | 1,204 m² | 1 · 704 m² | 22.1 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 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: expect extra rules on renovation or sale.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | SOPHIE HUART CHAUSSEE DE WATERLOO 880,
1000 BRUXELLES |
09-03-2026 → present |
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Of 1,289 companies in sector 58290 we hold annual accounts for 594. 303 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
58290Other software publishing
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0761625687
Also
9925:BE0761625687
Registered
24-11-2023
The company is no longer active; its Peppol card can remain until its access point withdraws it.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.