ISINGA
Bankruptcy closedInactive since 23-09-2026; last annual accounts for financial year 2023.
Summary
ISINGA was declared bankrupt on 19-12-2024 (Ondernemingsrechtbank Gent, afdeling Kortrijk); the bankruptcy was closed for insufficient assets by judgment of 22-09-2026, published in the Belgian Official Gazette on 28-09-2026.
Financials · financial year 2023, micro format
Equity
€71,922▲ 0.4%
2022 · €71,661
Total assets
€246,671▲ 27.5%
2022 · €193,499
Net result
€261▼ 97.5%
2022 · €10,559
Working capital
-€24,098
2022 · €5,344
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result falls in 2023; 2023 is 70% below 2022.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€6,245
2023
Net result€261
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€246,671
2023
Equity€71,922
2023
Debt€174,749
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€24,098
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2023
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result-€21,527--€19,957▲ 7.3%€15,978-€444€20,962€6,245▼ 70.2%
Net result-€24,500--€23,684▲ 3.3%€12,463-€3,014€10,559€261▼ 97.5%
Equity€75,336-€51,652▼ 31.4%€64,116▲ 24.1%€61,102▼ 4.7%€71,661▲ 17.3%€71,922▲ 0.4%
Total assets€260,851-€240,085▼ 8.0%€217,792▼ 9.3%€171,352▼ 21.3%€193,499▲ 12.9%€246,671▲ 27.5%
Debt€185,515-€188,432▲ 1.6%€153,676▼ 18.4%€110,250▼ 28.3%€121,839▲ 10.5%€174,749▲ 43.4%
Working capital-€30,176--€35,840▼ 18.8%-€17,285▲ 51.8%-€15,426▲ 10.8%€5,344-€24,098
Staff (FTE)1-1.3▲ 30.0%0.9▼ 30.8%1▲ 11.1%1=1=
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €192,350
Fixed assets
€42,409 ▲ 3,290%
Current assets
€149,941 ▲ 18.2%
Equity and liabilities €246,671
Equity
€71,922 ▲ 0.4%
Debt
€174,749 ▲ 43.4%
Debt's share of the balance-sheet total rises from 63.0% to 70.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26,371▼
2022 · €33,239
Cash flow
€20,388▼
2022 · €22,836
Current ratio
0.86▼
2022 · 1.04
Debt to equity
2.43▲
2022 · 1.70
ROE
0.4%▼
2022 · 14.7%
ROA
0.1%▼
2022 · 5.5%
Interest coverage
4.49▲
2022 · 3.24
Debt ≤ 1 year
€174,039▲
2022 · €121,516
Income taxes
€133▼
2022 · €248
Staff costs
€46,993▲
2022 · €44,517
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 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €31,597 | €44,517 | €46,993 | ▲ 5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,978 | €14,034 | €13,392 | €12,757 | €12,277 | €20,127 | ▲ 63.9% |
| Other operating charges640/8 | - | - | - | €396 | €1,184 | €2,281 | ▲ 92.7% |
| Non-recurring operating charges66A | - | - | - | - | €158 | - | - |
| Gross operating margin9900 | €34,951 | €46,131 | €49,623 | €44,306 | €79,098 | €75,646 | ▼ 4.4% |
| Operating profit (loss)9901 | -€21,527 | -€19,957 | €15,978 | -€444 | €20,962 | €6,245 | ▼ 70.2% |
| Financial income75/76B | - | - | - | €222 | €98 | €17 | ▼ 82.4% |
| Recurring financial income75 | €23 | €45 | €0 | €222 | €98 | €17 | ▼ 82.4% |
| Financial charges65/66B | - | - | - | €2,431 | €10,253 | €5,868 | ▼ 42.8% |
| Recurring financial charges65 | €2,882 | €3,659 | €3,399 | €2,431 | €10,253 | €5,868 | ▼ 42.8% |
| Profit (loss) for the period before taxes9903 | -€24,386 | -€23,571 | €12,580 | -€2,653 | €10,807 | €394 | ▼ 96.4% |
| Income taxes67/77 | €114 | €113 | €116 | €361 | €248 | €133 | ▼ 46.5% |
| Profit (loss) for the period9904 | -€24,500 | -€23,684 | €12,463 | -€3,014 | €10,559 | €261 | ▼ 97.5% |
| Profit (loss) for the period to be appropriated9905 | -€24,500 | -€23,684 | €12,463 | -€3,014 | €10,559 | €261 | ▼ 97.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €260,851 | €240,085 | €217,792 | €171,352 | €193,499 | €246,671 | ▲ 27.5% |
| Formation expenses20 | €109,653 | €98,587 | €87,521 | €76,454 | €65,388 | €54,321 | ▼ 16.9% |
| Fixed assets21/28 | €4,656 | €4,455 | €3,041 | €2,819 | €1,251 | €42,409 | ▲ 3,290% |
| Intangible fixed assets21 | €160 | €454 | €341 | €227 | €114 | - | - |
| Tangible fixed assets22/27 | €4,496 | €4,001 | €2,700 | €2,592 | €1,138 | €42,409 | ▲ 3,628% |
| Plant, machinery and equipment23 | - | - | - | €607 | €303 | - | - |
| Furniture and vehicles24 | - | - | - | €1,985 | €834 | €42,409 | ▲ 4,984% |
| Current assets29/58 | €146,542 | €137,043 | €127,230 | €92,078 | €126,860 | €149,941 | ▲ 18.2% |
| Amounts receivable within one year40/41 | €31,876 | €51,865 | €7,998 | €29,303 | €3,525 | €13,704 | ▲ 289% |
| Trade receivables40 | - | - | - | €28,340 | €2,870 | €12,705 | ▲ 343% |
| Other amounts receivable41 | - | - | - | €963 | €655 | €1,000 | ▲ 52.7% |
| Cash at bank and in hand54/58 | €21,811 | €2,281 | €317 | €8,469 | €90,046 | €12,909 | ▼ 85.7% |
| Deferred charges and accrued income490/1 | - | - | - | €54,307 | €33,289 | €123,328 | ▲ 270% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €260,851 | €240,085 | €217,792 | €171,352 | €193,499 | €246,671 | ▲ 27.5% |
| Equity10/15 | €75,336 | €51,652 | €64,116 | €61,102 | €71,661 | €71,922 | ▲ 0.4% |
| Contributions10/11 | €150,000 | €150,000 | - | €150,000 | €150,000 | €150,000 | = |
| Reserves13 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Non-distributable reserves130/1 | - | - | - | €8,000 | €8,000 | €8,000 | = |
| Reserves not available under the articles1311 | - | - | - | €8,000 | €8,000 | €8,000 | = |
| Profit (loss) carried forward14 | -€82,664 | -€106,348 | -€93,884 | -€96,898 | -€86,339 | -€86,078 | ▲ 0.3% |
| Amounts payable17/49 | €185,515 | €188,432 | €153,676 | €110,250 | €121,839 | €174,749 | ▲ 43.4% |
| Amounts payable within one year42/48 | €176,718 | €172,882 | €144,515 | €107,504 | €121,516 | €174,039 | ▲ 43.2% |
| Financial debts43 | - | - | - | - | €19,102 | €25,175 | ▲ 31.8% |
| Credit institutions430/8 | - | - | - | - | €19,102 | €25,175 | ▲ 31.8% |
| Trade debts44 | €31,757 | €34,053 | €29,475 | €6,692 | €10,461 | €30,955 | ▲ 196% |
| Suppliers440/4 | - | - | - | €6,692 | €10,461 | €30,955 | ▲ 196% |
| Advances received on contracts in progress46 | - | - | - | €94,381 | €73,648 | €60,208 | ▼ 18.2% |
| Taxes, remuneration and social security45 | - | - | - | €6,432 | €5,435 | €8,055 | ▲ 48.2% |
| Taxes450/3 | - | - | - | €1,936 | €1,728 | €2,596 | ▲ 50.3% |
| Remuneration and social security454/9 | - | - | - | €4,496 | €3,708 | €5,459 | ▲ 47.2% |
| Other amounts payable47/48 | - | - | - | - | €12,869 | €49,646 | ▲ 286% |
| Accrued charges and deferred income492/3 | - | - | - | €2,745 | €323 | €710 | ▲ 120% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€24,500 | -€23,684 | €12,463 | -€3,014 | €10,559 | €261 | ▼ 97.5% |
| + Depreciation and write-downs630 | €15,978 | €14,034 | €13,392 | €12,757 | €12,277 | €20,127 | ▲ 63.9% |
| Operating cash flow (approximation) | -€8,522 | -€9,650 | €25,855 | €9,743 | €22,836 | €20,388 | ▼ 10.7% |
| Investment in fixed assets (approximation) | - | -€13,832 | -€11,978 | -€12,535 | -€10,709 | -€61,285 | ▼ 472% |
| Change in cash | - | -€19,530 | -€1,964 | €8,152 | €81,577 | -€77,137 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 47 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | micro format | 03-07-2024 | 2024-00215062 |
| 31-12-2022 | micro format | 13-06-2023 | 2023-00125827 |
| 31-12-2021 | micro format | 17-06-2022 | 2022-20074410 |
| 31-12-2020 | micro format | 28-10-2021 | 2021-74500456 |
| 31-12-2019 | micro format | 30-11-2020 | 2020-73000029 |
| 31-12-2018 | micro format | 29-08-2019 | 2019-55000279 |
| 31-12-2017 | micro format | 16-07-2018 | 2018-33200593 |
| 31-12-2016 | micro format | 20-07-2017 | 2017-34100488 |
| 31-12-2015 | abbreviated format | 18-08-2016 | 2016-43500501 |
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-52800061 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.