IMMO WINGS

Bankruptcy

Private limited companyfounded 1988Gaasbeeksesteenweg 98, 1500 Halle, BelgiumKBO/BCE: BE 0435.020.947

The KBO register records for IMMO WINGS the legal situation: open bankruptcy (code 050); this is today's state according to the register itself, which carries no start date. The 2022 annual accounts show equity of €674k and a net result of €-722k.

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Signals

Two signals.

+raises risk○neutral

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2022, micro schema

Equity

€674k▼ 51.7%

2021 · €1.40M

2018: €1.51M 2019: €1.34M 2020: €1.53M 2021: €1.40M

2018 → 2022

Total assets

€7.84M▲ 63.5%

2021 · €4.80M

2018: €3.21M 2019: €2.28M 2020: €2.27M 2021: €4.80M

2018 → 2022

Net result

€-722k▼ 448%

2021 · €-132k

2018: €418k 2019: €-166k 2020: €32k 2021: €-132k

2018 → 2022

Working capital

€3.38M▲ 67.4%

2021 · €2.02M

2018: €1.07M 2019: €1.27M 2020: €1.33M 2021: €2.02M

2018 → 2022

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20182019202020212022Trend

Equity€1.51M-€1.34M▼ 11.0%€1.53M▲ 13.7%€1.40M▼ 8.6%€674k▼ 51.7%

Operating result€474k-€-144k€34k€-93k€-568k▼ 509%

Net result€418k-€-166k€32k€-132k€-722k▼ 448%

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 €568k in 2022 against €93k in 2021; the loss grows and 2022 is the lowest year so far.

Balance-sheet composition

2022 in colour, 2021 as the grey bar beneath

Assets €7.84M

10%

90.0%

Fixed assets €781k▲ 26,580%

Current assets €7.06M▲ 47.3%

Equity and liabilities €7.84M

89.1%

Equity €674k▼ 51.7%

Provisions €180k▼ 2.4%

Debt €6.99M▲ 117%

The debt ratio rises from 67.0% to 89.1%: debt grows while equity shrinks.

Key figures and ratios

2022 value · change against 2021

EBITDA

€-564k▼

2021 · €-93k

Cash flow

€-718k▼

2021 · €-131k

Solvency

8.6%▼

2021 · 29.1%

Current ratio

1.92▲

2021 · 1.73

Quick ratio

0.80▲

2021 · 0.50

Debt / equity

10.36▲

2021 · 2.30

ROE

-107.1%▼

2021 · -9.4%

ROA

-9.2%▼

2021 · -2.7%

Interest coverage

-3.58▼

2021 · -1.62

Debt

€6.99M▲

2021 · €3.22M

Debt ≤ 1 year

€3.69M▲

2021 · €2.78M

Debt > 1 year

€407k=

2021 · €407k

Income taxes

€727▼

2021 · €109k

Staff costs

€77k▲

2021 · €14k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2022 against 2021

Balance sheet Code20212022

Assets

Total assets20/58€4.80M€7.84M▲

Fixed assets21/28€3k€781k▲

Tangible fixed assets22/27€3k€781k▲

Land and buildings22-€776k

Plant, machinery and equipment23-€983

Furniture and vehicles24€3k€4k▲

Current assets29/58€4.80M€7.06M▲

Amounts receivable after more than one year29€315k€405k▲

Other amounts receivable291€315k€405k▲

Stocks and contracts in progress3€3.41M€4.12M▲

Stocks30/36€3.41M€4.06M▲

Contracts in progress37-€64k

Amounts receivable within one year40/41€1.06M€1.41M▲

Trade receivables40€4k€12k▲

Other amounts receivable41€1.06M€1.39M▲

Cash at bank and in hand54/58€474€74k▲

Deferred charges and accrued income490/1€155€1.06M▲

Equity and liabilities

Total equity and liabilities10/49€4.80M€7.84M▲

Equity10/15€1.40M€674k▼

Contributions10/11€19k€19k=

Reserves13€750k€733k▼

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Tax-exempt reserves132€737k€720k▼

Distributable reserves133€11k€11k=

Profit (loss) carried forward14€628k€-77k▼

Provisions and deferred taxes16€184k€180k▼

Deferred taxes168€184k€180k▼

Amounts payable17/49€3.22M€6.99M▲

Amounts payable after more than one year17€407k€407k=

Financial debts170/4€400k€400k=

Other amounts payable178/9€7k€7k=

Amounts payable within one year42/48€2.78M€3.69M▲

Financial debts43€2.47M€3.55M▲

Credit institutions430/8€2.47M€3.55M▲

Trade debts44€187k€17k▼

Suppliers440/4€187k€17k▼

Advances received on contracts in progress46-€3k

Taxes, remuneration and social security45€116k€118k▲

Taxes450/3€112k€110k▼

Remuneration and social security454/9€4k€8k▲

Other amounts payable47/48€6k€51▼

Accrued charges and deferred income492/3€32k€2.89M▲

Income statement Code20212022

Remuneration, social security and pensions62€14k€77k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€800€5k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€3k

Provisions for liabilities and charges: additions (uses and reversals)635/8-€6k

Other operating charges640/8€36k€204k▲

Gross operating margin9900€-42k€-275k▼

Operating profit (loss)9901€-93k€-568k▼

Financial income75/76B€1€68▲

Recurring financial income75€1€68▲

Financial charges65/66B€57k€158k▲

Recurring financial charges65€57k€158k▲

Profit (loss) for the period before taxes9903€-151k€-726k▼

Transfer from deferred taxes780€128k€4k▼

Income taxes67/77€109k€727▼

Profit (loss) for the period9904€-132k€-722k▼

Transfer from tax-exempt reserves789€514k€17k▼

Profit (loss) for the period to be appropriated9905€382k€-705k▼

Appropriation of the result

Profit (loss) to be appropriated9906€628k€-77k▼

Profit (loss) brought forward from the previous period14P€246k€628k▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

2023

06-12

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 128 days late

2022

31-12

Financial Weakest financial yearnet €-722k

Net result drops to €-722k, the lowest in the series.

05-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 5 days late

2021

20-10

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 81 days late

2020

31-12

Financial Back to profitnet €32k

Net result €32k after one loss-making year.

09-11

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 101 days late

2019

31-12

Financial Liquidity triplescurrent ratio 7.01

Current ratio from 2.12 to 7.01; short-term debt falls from €954k to €212k.

30-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 30 days late

2018

25-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 56 days late

2017

31-03

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

29-04

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

02-02

NBB filing Annual accounts filed

fiscal year 2014 · abbreviated schema · 278 days late

2014

30-04

NBB filing Annual accounts filed

fiscal year 2013 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

10 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, Halle · 1 establishment unit since 1988

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Gaasbeeksesteenweg 981500 Halle

Ground area

942 m²

Building footprint

196 m²

Volume, LiDAR

977 m³

Parcel 23027F0029/00V000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.