GULTEX
Bankruptcy closedInactive since 14-05-2026; last annual accounts for fiscal year 2021.
Summary
GULTEX was declared bankrupt on 03-04-2023 (Tribunal de l’entreprise de Liège, division Liège); the bankruptcy was closed by liquidation by judgment of 12-05-2026, published in the Belgian State Gazette on 19-05-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 31-08-2022, 31 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
2021
31 d late
2020
2 d late
2019
24 d late
2018
20 d early
2017
52 d late
2016
35 d early
2015
47 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 1 day after the deadline; the Belgian median for financial year 2021 is 3 days before the deadline, and 44% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2021, micro schema
Equity
-€22,688▲ 10.2%
2020 · -€25,263
Total assets
€125,521▲ 5.3%
2020 · €119,182
Net result
€2,575▲ 152%
2020 · €1,020
Working capital
-€77,308▲ 3.4%
2020 · -€79,997
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Operating result-€32,593-€25,086€7,339▼ 70.7%€7,992▲ 8.9%
Net result-€39,274-€14,743€1,020▼ 93.1%€2,575▲ 152%
Equity-€41,025--€26,282▲ 35.9%-€25,263▲ 3.9%-€22,688▲ 10.2%
Total assets€87,671-€99,582▲ 13.6%€119,182▲ 19.7%€125,521▲ 5.3%
Debt€128,696-€125,865▼ 2.2%€144,445▲ 14.8%€148,209▲ 2.6%
Working capital-€42,842--€67,364▼ 57.2%-€79,997▼ 18.8%-€77,308▲ 3.4%
Staff (FTE)3.2-2.5▼ 21.9%5.3▲ 112%5.1▼ 3.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2021; 2021 is 9% above 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €125,521
Fixed assets
€54,620 ▼ 0.2%
Current assets
€70,901 ▲ 10.0%
Equity and liabilities
Equity-€22,688
Debt€148,209
Equity is negative: debt (€148,209) exceeds the balance-sheet total (€125,521).
Key figures and ratios
EBITDA
€12,888▲
2020 · €8,130
Cash flow
€7,471▲
2020 · €1,811
Solvency
-18.1%▲
2020 · -21.2%
Current ratio
0.48▲
2020 · 0.45
ROA
2.1%▲
2020 · 0.9%
Interest coverage
2.18
Debt ≤ 1 year
€148,209▲
2020 · €144,445
Income taxes
€135▼
2020 · €154
Staff costs
€86,890
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €3,626 | - |
| Remuneration, social security and pensions62 | - | - | - | €86,890 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,013 | €917 | €791 | €4,896 | ▲ 519% |
| Other operating charges640/8 | - | - | - | €2,851 | - |
| Non-recurring operating charges66A | - | - | - | €10,374 | - |
| Gross operating margin9900 | €102,090 | €148,503 | €99,801 | €113,003 | ▲ 13.2% |
| Operating profit (loss)9901 | -€32,593 | €25,086 | €7,339 | €7,992 | ▲ 8.9% |
| Financial income75/76B | - | - | - | €632 | - |
| Recurring financial income75 | €1 | €632 | - | €632 | - |
| Financial charges65/66B | - | - | - | €5,914 | - |
| Recurring financial charges65 | €6,682 | €10,714 | €6,165 | €5,914 | ▼ 4.1% |
| Profit (loss) for the period before taxes9903 | -€39,274 | €15,005 | €1,174 | €2,710 | ▲ 131% |
| Income taxes67/77 | - | €262 | €154 | €135 | ▼ 12.0% |
| Profit (loss) for the period9904 | -€39,274 | €14,743 | €1,020 | €2,575 | ▲ 152% |
| Profit (loss) for the period to be appropriated9905 | -€39,274 | €14,743 | €1,020 | €2,575 | ▲ 152% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €87,671 | €99,582 | €119,182 | €125,521 | ▲ 5.3% |
| Fixed assets21/28 | €1,817 | €41,082 | €54,735 | €54,620 | ▼ 0.2% |
| Tangible fixed assets22/27 | €917 | - | €14,673 | €13,926 | ▼ 5.1% |
| Furniture and vehicles24 | - | - | - | €13,926 | - |
| Financial fixed assets28 | €900 | €41,082 | €40,062 | €40,694 | ▲ 1.6% |
| Current assets29/58 | €85,854 | €58,500 | €64,447 | €70,901 | ▲ 10.0% |
| Stocks and contracts in progress3 | €3,787 | €3,787 | €3,787 | - | - |
| Amounts receivable within one year40/41 | €38,925 | €35,636 | €37,157 | €39,510 | ▲ 6.3% |
| Trade receivables40 | - | - | - | €37,416 | - |
| Other amounts receivable41 | - | - | - | €2,094 | - |
| Cash at bank and in hand54/58 | €39,788 | €14,372 | €18,858 | €28,866 | ▲ 53.1% |
| Deferred charges and accrued income490/1 | - | - | - | €2,526 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €87,671 | €99,582 | €119,182 | €125,521 | ▲ 5.3% |
| Equity10/15 | -€41,025 | -€26,282 | -€25,263 | -€22,688 | ▲ 10.2% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | €18,592 | - |
| Issued capital100 | - | - | - | €18,592 | - |
| Profit (loss) carried forward14 | -€59,617 | -€44,874 | -€43,855 | -€41,280 | ▲ 5.9% |
| Amounts payable17/49 | €128,696 | €125,865 | €144,445 | €148,209 | ▲ 2.6% |
| Amounts payable within one year42/48 | €128,696 | €125,865 | €144,445 | €148,209 | ▲ 2.6% |
| Trade debts44 | €37,317 | €54,597 | €52,249 | €40,062 | ▼ 23.3% |
| Suppliers440/4 | - | - | - | €40,062 | - |
| Taxes, remuneration and social security45 | - | - | - | €105,169 | - |
| Taxes450/3 | - | - | - | €52,314 | - |
| Remuneration and social security454/9 | - | - | - | €52,855 | - |
| Other amounts payable47/48 | - | - | - | €2,978 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€39,274 | €14,743 | €1,020 | €2,575 | ▲ 152% |
| + Depreciation and write-downs630 | €2,013 | €917 | €791 | €4,896 | ▲ 519% |
| Operating cash flow (approximation) | -€37,261 | €15,660 | €1,811 | €7,471 | ▲ 313% |
| Investment in fixed assets (approximation) | - | -€40,182 | -€14,444 | -€4,781 | ▲ 66.9% |
| Change in cash | - | -€25,416 | €4,486 | €10,008 | ▲ 123% |
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
19-05
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise de Liège, division Liège · event 12-05-2026
2023
11-04
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 03-04-2023
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
2020
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
31-12
Financial
Back to profitnet €14,743
Net result €14,743 after one loss-making year.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 52 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
14-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
22-07
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 29 days late
2013
01-07
NBB filing
Annual accounts filed
fiscal year 2012 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
No directors read yet: 0 of 7 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Liège
Ground area
431 m²
Building footprint
116 m²
Volume, LiDAR
1,001 m³
Parcel 62042B0288/00G000, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62042B0288/00G000 | Wallonia | 431 m² | 1 · 116 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ROMAIN OGER Rue Des DéPortéS 82, 4800 Verviers |
03-04-2023 → 12-05-2026 |
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded13-11-1998
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.