IETS
Open bankruptcyA bankruptcy procedure is open for IETS according to publications in the Belgian State Gazette; curator: JORIS DE SMET.
Summary
The 2021 annual accounts show negative equity (-€25,933) and a net result of -€17,116.
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
- Enterprise Court of Ghent, Ghent division
- Declared bankrupt
- 23 December 2022
- Supervising judge
- Dominique Delbeke
- Official Gazette
- 28-12-2022 (pdf) ↗search the document for 2022/149146
Curator
- Joris De SmetBruul 27, 9630 11 Zwalmjoris.desmet@skynet.be
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.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
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. Full guide for creditors
Signals
Three 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
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
31 d late
2020
200 d late
2019
101 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 111 days after the deadline; the sector median for financial year 2024 is 4 days before the deadline, and 38% 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?Address check Are there other customers at risk in your own list?Debtor check How is the Other support activities for arts and performing arts sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2021, micro schema
Equity
-€25,933▼ 194%
2020 · -€8,817
Total assets
€119,829▲ 1.8%
2020 · €117,737
Net result
-€17,116▼ 28.3%
2020 · -€13,340
Working capital
-€33,842▼ 72.5%
2020 · -€19,617
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
Line2018201920202021
Operating result€16,174--€32,942-€11,510▲ 65.1%-€16,075▼ 39.7%
Net result€17,731--€33,284-€13,340▲ 59.9%-€17,116▼ 28.3%
Equity€37,807-€4,523▼ 88.0%-€8,817-€25,933▼ 194%
Total assets€57,966-€93,851▲ 61.9%€117,737▲ 25.5%€119,829▲ 1.8%
Debt€20,159-€89,328▲ 343%€126,554▲ 41.7%€145,762▲ 15.2%
Working capital€37,807--€10,711-€19,617▼ 83.1%-€33,842▼ 72.5%
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 €16,075 in 2021 against €11,510 in 2020; the loss grows.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €119,829
Fixed assets
€7,909 ▼ 26.8%
Current assets
€111,920 ▲ 4.7%
Key figures and ratios
EBITDA
-€11,542▼
2020 · -€7,076
Cash flow
-€12,583▼
2020 · -€8,906
Solvency
-21.6%▼
2020 · -7.5%
Current ratio
0.77▼
2020 · 0.84
Quick ratio
0.51▼
2020 · 0.55
Debt to equity
-5.62
ROA
-14.3%▼
2020 · -11.3%
Interest coverage
-12.02
Debt ≤ 1 year
€145,762▲
2020 · €126,554
Income taxes
€81▲
2020 · €77
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 |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €4,433 | €4,434 | €4,533 | ▲ 2.2% |
| Other operating charges640/8 | - | - | - | €300 | - |
| Gross operating margin9900 | €16,919 | -€27,130 | -€5,881 | -€11,242 | ▼ 91.2% |
| Operating profit (loss)9901 | €16,174 | -€32,942 | -€11,510 | -€16,075 | ▼ 39.7% |
| Recurring financial income75 | €4,842 | - | - | - | - |
| Financial charges65/66B | - | - | - | €960 | - |
| Recurring financial charges65 | €83 | €278 | €1,753 | €960 | ▼ 45.2% |
| Profit (loss) for the period before taxes9903 | €20,933 | -€33,220 | -€13,263 | -€17,035 | ▼ 28.4% |
| Income taxes67/77 | €3,202 | €64 | €77 | €81 | ▲ 5.2% |
| Profit (loss) for the period9904 | €17,731 | -€33,284 | -€13,340 | -€17,116 | ▼ 28.3% |
| Profit (loss) for the period to be appropriated9905 | €17,731 | -€33,284 | -€13,340 | -€17,116 | ▼ 28.3% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €57,966 | €93,851 | €117,737 | €119,829 | ▲ 1.8% |
| Fixed assets21/28 | - | €15,234 | €10,800 | €7,909 | ▼ 26.8% |
| Tangible fixed assets22/27 | - | €15,234 | €10,800 | €7,909 | ▼ 26.8% |
| Plant, machinery and equipment23 | - | - | - | €1,542 | - |
| Furniture and vehicles24 | - | - | - | €6,367 | - |
| Current assets29/58 | €57,966 | €78,617 | €106,937 | €111,920 | ▲ 4.7% |
| Stocks and contracts in progress3 | - | €37,850 | €37,850 | €37,850 | = |
| Stocks30/36 | - | - | - | €37,850 | - |
| Amounts receivable within one year40/41 | €57,848 | €33,467 | €68,365 | €74,070 | ▲ 8.3% |
| Trade receivables40 | - | - | - | €74,070 | - |
| Cash at bank and in hand54/58 | €118 | €7,300 | €722 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €57,966 | €93,851 | €117,737 | €119,829 | ▲ 1.8% |
| Equity10/15 | €37,807 | €4,523 | -€8,817 | -€25,933 | ▼ 194% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €23,547 | -€9,737 | -€23,077 | -€40,193 | ▼ 74.2% |
| Amounts payable17/49 | €20,159 | €89,328 | €126,554 | €145,762 | ▲ 15.2% |
| Amounts payable within one year42/48 | €20,159 | €89,328 | €126,554 | €145,762 | ▲ 15.2% |
| Financial debts43 | - | - | - | €100 | - |
| Credit institutions430/8 | - | - | - | €100 | - |
| Trade debts44 | €4,884 | €34,657 | €22,496 | €26,509 | ▲ 17.8% |
| Suppliers440/4 | - | - | - | €26,509 | - |
| Taxes, remuneration and social security45 | - | - | - | €3,337 | - |
| Taxes450/3 | - | - | - | €3,337 | - |
| Other amounts payable47/48 | - | - | - | €115,816 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,731 | -€33,284 | -€13,340 | -€17,116 | ▼ 28.3% |
| + Depreciation and write-downs630 | - | €4,433 | €4,434 | €4,533 | ▲ 2.2% |
| Operating cash flow (approximation) | €17,731 | -€28,851 | -€8,906 | -€12,583 | ▼ 41.3% |
| Investment in fixed assets (approximation) | - | - | €0 | -€1,642 | - |
| Change in cash | - | €7,182 | -€6,578 | - | - |
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
2022
28-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 23-12-2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
16-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 200 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
31-12
Financial
Weakest financial yearnet -€33,284
Net result drops to -€33,284, the lowest in the series.
26-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 118 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2017
11-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 42 days late
2016
12-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 73 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
2014
19-05
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
04-07
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 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, Sint-Martens-Latem · 1 establishment unit since 2001
Ground area
575 m²
Parcel 44064B0032/00Y006, Flanders. Linked by address, not a title deed.
1 establishment unit
Establishment
since 20012.101.404.832
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0032/00Y006 | Flanders | 575 m² | - | - |
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 | JORIS DE SMET BRUUL 27, 9630 11 ZWALM- |
23-12-2022 → present |
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Of 1,258 companies in sector 90399 we hold annual accounts for 200. 69 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded09-07-2001
Fiscal year end31-12
Activities, NACEBEL 2025
90399Other support activities for arts and performing arts
82300Organisation of conventions and trade shows
90201Performing arts by independent artists
Scores and ratios are computed by Checked and are not a credit decision.