INDEC IMMO
InactiveINDEC IMMO was declared bankrupt on 06-06-2023 (Ondernemingsrechtbank Antwerpen, afdeling Tongeren); the bankruptcy was closed for insufficient assets by judgment of 12-03-2024, published in the Belgian State Gazette on 21-03-2024.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline27-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 14-12-2022, 136 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
136 d late
2020
265 d late
2019
153 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 185 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 2021, full schema
Turnover
€7,530▲ 7.2%
2019 · €7,025
EBIT margin
542.6%▼ 26.6pp
2019 · 569.2%
Net result
€344,992▲ 1,465%
2020 · €22,044
Working capital
€657,110▲ 225%
2020 · €202,188
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
Turnover€6,885-€7,025▲ 2.0%€7,530▲ 7.2%
Operating result€38,799-€39,984▲ 3.1%€40,859▲ 2.2%€519,177▲ 1,171%
Net result€14,975-€17,449▲ 16.5%€22,044▲ 26.3%€344,992▲ 1,465%
EBIT margin563.6%-569.2%▲ 5.6pp542.6%▼ 26.6pp
Equity€272,625-€290,074▲ 6.4%€312,118▲ 7.6%€657,110▲ 111%
Total assets€614,161-€581,030▼ 5.4%€551,536▼ 5.1%€1.1m▲ 102%
Debt€341,536-€290,956▼ 14.8%€239,418▼ 17.7%€455,155▲ 90.1%
Working capital€159,791-€148,572▼ 7.0%€202,188▲ 36.1%€657,110▲ 225%
Why a figure moved sharply
- 2021 Net result +1,465%, Equity +111%, Total assets +102% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2021 is 1,171% above 2020 and is the highest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Equity and liabilities €1.1m
Equity
€657,110 ▲ 111%
Debt
€455,155 ▲ 90.1%
Debt's share of the balance-sheet total falls from 43.4% to 40.9%. Equity and debt are higher.
Key figures and ratios
Current ratio
2.44▼
2020 · 4.81
Debt to equity
0.69▼
2020 · 0.77
ROE
52.5%▲
2020 · 7.1%
ROA
31.0%▲
2020 · 4.0%
Debt ≤ 1 year
€455,155▲
2020 · €53,074
Income taxes
€125,585▲
2020 · €7,548
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 |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | €92,005 | €519,586 | ▲ 465% |
| Turnover70 | €6,885 | €7,025 | €7,530 | - | - |
| Other operating income74 | - | - | €84,474 | €77,435 | ▼ 8.3% |
| Non-recurring operating income76A | - | - | - | €442,152 | - |
| Operating charges60/66A | - | - | €51,146 | €410 | ▼ 99.2% |
| Services and other goods61 | - | - | €906 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,322 | €42,300 | €42,300 | - | - |
| Other operating charges640/8 | - | - | €7,940 | €410 | ▼ 94.8% |
| Operating profit (loss)9901 | €38,799 | €39,984 | €40,859 | €519,177 | ▲ 1,171% |
| Financial income75/76B | - | - | €3,561 | €10,042 | ▲ 182% |
| Recurring financial income75 | €2,172 | €3,527 | €3,561 | €10,042 | ▲ 182% |
| Income from current assets751 | - | - | €3,561 | €10,042 | ▲ 182% |
| Financial charges65/66B | - | - | €14,828 | €58,641 | ▲ 295% |
| Recurring financial charges65 | €21,427 | €18,059 | €14,828 | €58,641 | ▲ 295% |
| Debt charges650 | €21,249 | €18,059 | €14,828 | €58,641 | ▲ 295% |
| Profit (loss) for the period before taxes9903 | €19,544 | €25,452 | €29,592 | €470,577 | ▲ 1,490% |
| Income taxes67/77 | €4,569 | €8,003 | €7,548 | €125,585 | ▲ 1,564% |
| Taxes670/3 | - | - | €7,548 | €125,585 | ▲ 1,564% |
| Profit (loss) for the period9904 | €14,975 | €17,449 | €22,044 | €344,992 | ▲ 1,465% |
| Profit (loss) for the period to be appropriated9905 | €14,975 | €17,449 | €22,044 | €344,992 | ▲ 1,465% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €614,161 | €581,030 | €551,536 | €1.1m | ▲ 102% |
| Fixed assets21/28 | €380,873 | €338,573 | €296,273 | - | - |
| Tangible fixed assets22/27 | €380,873 | €338,573 | €296,273 | - | - |
| Leasing and similar rights25 | - | - | €296,273 | - | - |
| Current assets29/58 | €233,288 | €242,457 | €255,262 | €1.1m | ▲ 336% |
| Amounts receivable within one year40/41 | €232,155 | €238,154 | €251,665 | €1.1m | ▲ 338% |
| Trade receivables40 | - | - | €906 | - | - |
| Other amounts receivable41 | - | - | €250,759 | €1.1m | ▲ 340% |
| Cash at bank and in hand54/58 | €1,133 | €776 | €36 | €11 | ▼ 70.2% |
| Deferred charges and accrued income490/1 | - | - | €3,561 | €10,042 | ▲ 182% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €614,161 | €581,030 | €551,536 | €1.1m | ▲ 102% |
| Equity10/15 | €272,625 | €290,074 | €312,118 | €657,110 | ▲ 111% |
| Contributions10/11 | €62,004 | €62,004 | €62,004 | €62,004 | = |
| Capital10 | - | - | €62,004 | €62,004 | = |
| Issued capital100 | - | - | €62,004 | €62,004 | = |
| Reserves13 | €210,621 | €228,070 | €250,114 | €595,106 | ▲ 138% |
| Non-distributable reserves130/1 | - | - | €8,783 | €8,783 | = |
| Legal reserve130 | - | - | €8,783 | €8,783 | = |
| Distributable reserves133 | - | - | €241,331 | €586,323 | ▲ 143% |
| Amounts payable17/49 | €341,536 | €290,956 | €239,418 | €455,155 | ▲ 90.1% |
| Amounts payable after more than one year17 | €268,039 | €196,964 | €185,564 | - | - |
| Financial debts170/4 | - | - | €185,564 | - | - |
| Leasing and similar obligations172 | - | - | €185,564 | - | - |
| Amounts payable within one year42/48 | €73,497 | €93,884 | €53,074 | €455,155 | ▲ 758% |
| Current portion of amounts payable after more than one year42 | - | - | €28,984 | - | - |
| Trade debts44 | €1,887 | €4,528 | €4,513 | €314,677 | ▲ 6,873% |
| Suppliers440/4 | - | - | €4,513 | €314,677 | ▲ 6,873% |
| Taxes, remuneration and social security45 | - | - | €19,577 | €140,478 | ▲ 618% |
| Taxes450/3 | - | - | €19,577 | €140,478 | ▲ 618% |
| Accrued charges and deferred income492/3 | - | - | €780 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,975 | €17,449 | €22,044 | €344,992 | ▲ 1,465% |
| + Depreciation and write-downs630 | €42,322 | €42,300 | €42,300 | - | - |
| Operating cash flow (approximation) | €57,298 | €59,749 | €64,344 | €344,992 | ▲ 436% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - |
| Change in cash | - | -€358 | -€740 | -€25 | ▲ 96.6% |
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
2024
21-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Tongeren · event 12-03-2024
2023
12-06
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Tongeren · event 06-06-2023
2022
14-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 136 days late
22-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 265 days late
2021
31-12
Financial
Highest result since 2018net €344,992 ▲1,465%
Operating result €519,177, net result €344,992, both a record.
31-12
Financial
Equity above €500,000Eq €657,110 ▲111%
4 profitable years in a row build equity to €657,110.
2020
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 153 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 58 days late
2016
06-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 67 days late
2014
30-10
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2013
25-11
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 25 days late
2012
28-08
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema · 28 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
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
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | KRISTIEN HANSSEN DIEPLAAN 57, 3600 GENK- |
06-06-2023 → 12-03-2024 |
| Curator | TANGUY PAQUET DIEPLAAN 57,
3600 GENK |
06-06-2023 → 12-03-2024 |
Structure & network
Owners and holdings
1 ownerChain of control
Highest known parent: DMF ENGINEERING. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
The accounts to 31-12-2021 list no holdings, and no other source names one.
According to the 2021 annual accounts of INDEC IMMO and those 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.