HIGH 5
InactiveHIGH 5 was declared bankrupt on 16-10-2020 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed by liquidation by judgment of 31-01-2023, published in the Belgian State Gazette on 07-02-2023.
Summary
Inactive; last annual accounts for fiscal year 2019.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 30-09-2019. Since then, 6 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 3 filingsPosition against the passed deadline
30-09-2020 close30-04-2021 deadline30-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 30-09-2019 was due by 30-04-2020 and was filed on 28-07-2020, 89 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 filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
89 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its 2019 accounts 89 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 2019, micro schema
Equity
€18,600▼ 66.9%
2018 · €56,265
Total assets
€1.6m▲ 192%
2018 · €547,695
Net result
-€37,665
2018 · €35,914
Working capital
-€51,738
2018 · €131,682
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
Line20182019
Operating result€67,996--€34,518
Net result€35,914--€37,665
Equity€56,265-€18,600▼ 66.9%
Total assets€547,695-€1.6m▲ 192%
Debt€491,430-€1.6m▲ 222%
Working capital€131,682--€51,738
Staff (FTE)4.9-8.5▲ 73.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2019: a loss of €34,518 after €67,996 in 2018.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €1.6m
Fixed assets
€180,160 ▲ 735%
Current assets
€1.4m ▲ 170%
Equity and liabilities €1.6m
Equity
€18,600 ▼ 66.9%
Debt
€1.6m ▲ 222%
Debt's share of the balance-sheet total rises from 89.7% to 98.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€17,117▼
2018 · €77,271
Cash flow
-€20,264▼
2018 · €45,189
Current ratio
0.96▼
2018 · 1.33
Debt to equity
5.52
ROE
-202.5%▼
2018 · 63.8%
ROA
-2.4%▼
2018 · 6.6%
Debt ≤ 1 year
€1.5m▲
2018 · €394,430
Debt > 1 year
€102,653
Income taxes
€2▼
2018 · €31,585
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,275 | €17,401 | ▲ 87.6% |
| Gross operating margin9900 | €648,536 | €1.1m | ▲ 68.0% |
| Operating profit (loss)9901 | €67,996 | -€34,518 | ▼ 151% |
| Recurring financial income75 | €15 | €3,088 | ▲ 19,890% |
| Recurring financial charges65 | €513 | €6,234 | ▲ 1,116% |
| Profit (loss) for the period before taxes9903 | €67,499 | -€37,663 | ▼ 156% |
| Income taxes67/77 | €31,585 | €2 | ▼ 100.0% |
| Profit (loss) for the period9904 | €35,914 | -€37,665 | ▼ 205% |
| Profit (loss) for the period to be appropriated9905 | €35,914 | -€37,665 | ▼ 205% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €547,695 | €1.6m | ▲ 192% |
| Fixed assets21/28 | €21,583 | €180,160 | ▲ 735% |
| Intangible fixed assets21 | €17,170 | €10,065 | ▼ 41.4% |
| Tangible fixed assets22/27 | €2,153 | €22,109 | ▲ 927% |
| Financial fixed assets28 | €2,260 | €147,985 | ▲ 6,448% |
| Current assets29/58 | €526,112 | €1.4m | ▲ 170% |
| Amounts receivable within one year40/41 | €413,753 | €1.2m | ▲ 200% |
| Cash at bank and in hand54/58 | €112,359 | €179,136 | ▲ 59.4% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €547,695 | €1.6m | ▲ 192% |
| Equity10/15 | €56,265 | €18,600 | ▼ 66.9% |
| Contributions10/11 | €18,600 | €18,600 | = |
| Reserves13 | €36,860 | €36,860 | = |
| Profit (loss) carried forward14 | €805 | -€36,860 | ▼ 4,680% |
| Amounts payable17/49 | €491,430 | €1.6m | ▲ 222% |
| Amounts payable after more than one year17 | - | €102,653 | - |
| Amounts payable within one year42/48 | €394,430 | €1.5m | ▲ 274% |
| Trade debts44 | €258,095 | €948,548 | ▲ 268% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €35,914 | -€37,665 | ▼ 205% |
| + Depreciation and write-downs630 | €9,275 | €17,401 | ▲ 87.6% |
| Operating cash flow (approximation) | €45,189 | -€20,264 | ▼ 145% |
| Investment in fixed assets (approximation) | - | -€175,978 | - |
| Change in cash | - | €66,776 | - |
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
2023
07-02
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 31-01-2023
2020
21-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 16-10-2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 2 days late
SignalNBB filing
0 of 6 acts read
About the unread acts
We know of 6 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
6 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 | KOEN VANDER STUYFT EINESTRAAT 22, 9700 OUDE-
NAARDE |
16-10-2020 → 31-01-2023 |
Structure & network
Owners and holdings
1 ownerOwners 1
-
13%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,556 EUR awarded · 2,556 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,556 EUR | 2,556 EUR |
Schemes