IUSEMA
Open bankruptcyA bankruptcy procedure is open for IUSEMA according to publications in the Belgian State Gazette; curator: BEN DE GROOF.
Summary
The 2022 annual accounts show negative equity (-€133,677) and a net result of -€165,987.
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 Antwerp, Turnhout division
- Declared bankrupt
- 5 September 2025
- Supervising judge
- Maria Dams
- Official Gazette
- 11-09-2025 (pdf) ↗search the document for 2025/136172
Curator
- Ben De GroofDe Merodelei 112, 2300 Turnhoutb.degroof@schuermans-law.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
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Signals
Two signals.
+raises risk
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 Activities of lawyers sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, micro schema
Equity
-€133,677
2021 · €32,310
Total assets
€205,225▼ 57.8%
2021 · €485,851
Net result
-€165,987
2021 · €350
Working capital
-€151,093
2021 · €10,145
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
Line20182019202020212022
Operating result€23,381-€31,912▲ 36.5%€17,743▼ 44.4%€15,016▼ 15.4%-€150,326
Net result€14,650-€16,743▲ 14.3%€3,070▼ 81.7%€350▼ 88.6%-€165,987
Equity€12,148-€28,890▲ 138%€31,960▲ 10.6%€32,310▲ 1.1%-€133,677
Total assets€76,477-€161,013▲ 111%€355,212▲ 121%€485,851▲ 36.8%€205,225▼ 57.8%
Debt€64,330-€132,122▲ 105%€323,252▲ 145%€453,540▲ 40.3%€338,902▼ 25.3%
Working capital-€7,146-€10,452€12,629▲ 20.8%€10,145▼ 19.7%-€151,093
Staff (FTE)1.21.8▲ 50.0%1.7▼ 5.6%1.7=
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2022 Total assets -58% on 2021. Cause not known from the registers.
- 2020 Total assets +121% on 2019. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €150,326 after €15,016 in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €205,225
Fixed assets
€18,024 ▼ 25.8%
Current assets
€187,201 ▼ 59.4%
Key figures and ratios
EBITDA
-€144,050▼
2021 · €18,758
Cash flow
-€159,711▼
2021 · €4,092
Solvency
-65.1%▼
2021 · 6.7%
Current ratio
0.55▼
2021 · 1.02
Debt to equity
-2.54▼
2021 · 14.04
ROA
-80.9%▼
2021 · 0.1%
Interest coverage
-13.68▼
2021 · 1.73
Debt ≤ 1 year
€338,294▼
2021 · €451,405
Income taxes
€5,136▲
2021 · €3,808
Staff costs
€73,546▲
2021 · €59,637
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 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €59,637 | €73,546 | ▲ 23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,486 | €11,127 | €2,527 | €3,742 | €6,276 | ▲ 67.7% |
| Other operating charges640/8 | - | - | - | €4,593 | €3,885 | ▼ 15.4% |
| Gross operating margin9900 | €37,870 | €97,826 | €85,615 | €82,988 | -€66,619 | ▼ 180% |
| Operating profit (loss)9901 | €23,381 | €31,912 | €17,743 | €15,016 | -€150,326 | ▼ 1,101% |
| Financial income75/76B | - | - | - | €16 | €1 | ▼ 93.9% |
| Recurring financial income75 | - | €4 | - | €16 | €1 | ▼ 93.9% |
| Financial charges65/66B | - | - | - | €10,874 | €10,526 | ▼ 3.2% |
| Recurring financial charges65 | €3,145 | €4,187 | €10,065 | €10,874 | €10,526 | ▼ 3.2% |
| Profit (loss) for the period before taxes9903 | €20,236 | €27,730 | €7,678 | €4,158 | -€160,851 | ▼ 3,968% |
| Income taxes67/77 | €5,586 | €10,987 | €4,608 | €3,808 | €5,136 | ▲ 34.9% |
| Profit (loss) for the period9904 | €14,650 | €16,743 | €3,070 | €350 | -€165,987 | ▼ 47,525% |
| Profit (loss) for the period to be appropriated9905 | €14,650 | €16,743 | €3,070 | €350 | -€165,987 | ▼ 47,525% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €76,477 | €161,013 | €355,212 | €485,851 | €205,225 | ▼ 57.8% |
| Fixed assets21/28 | €26,879 | €19,842 | €20,799 | €24,300 | €18,024 | ▼ 25.8% |
| Tangible fixed assets22/27 | €24,595 | €17,559 | €18,515 | €24,300 | €18,024 | ▼ 25.8% |
| Land and buildings22 | - | - | - | €9,229 | €8,674 | ▼ 6.0% |
| Furniture and vehicles24 | - | - | - | €15,072 | €9,350 | ▼ 38.0% |
| Financial fixed assets28 | €2,284 | €2,284 | €2,284 | - | - | - |
| Current assets29/58 | €49,598 | €141,170 | €334,413 | €461,550 | €187,201 | ▼ 59.4% |
| Amounts receivable within one year40/41 | €14,507 | €98,102 | €313,045 | €432,672 | €155,733 | ▼ 64.0% |
| Trade receivables40 | - | - | - | €432,672 | €155,733 | ▼ 64.0% |
| Cash at bank and in hand54/58 | €91 | €18,364 | €16,360 | €27,409 | €31,468 | ▲ 14.8% |
| Deferred charges and accrued income490/1 | - | - | - | €1,470 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €76,477 | €161,013 | €355,212 | €485,851 | €205,225 | ▼ 57.8% |
| Equity10/15 | €12,148 | €28,890 | €31,960 | €32,310 | -€133,677 | ▼ 514% |
| Contributions10/11 | €12,400 | - | - | €12,400 | €12,400 | = |
| Reserves13 | €3,990 | €16,490 | €19,560 | €19,910 | €19,775 | ▼ 0.7% |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | = |
| Tax-exempt reserves132 | - | - | - | €2,000 | €2,000 | = |
| Distributable reserves133 | - | - | - | €16,055 | €15,920 | ▼ 0.8% |
| Profit (loss) carried forward14 | -€4,243 | -€4,892 | -€4,243 | - | -€165,852 | - |
| Amounts payable17/49 | €64,330 | €132,122 | €323,252 | €453,540 | €338,902 | ▼ 25.3% |
| Amounts payable after more than one year17 | €6,942 | - | - | - | - | - |
| Amounts payable within one year42/48 | €56,744 | €130,718 | €321,784 | €451,405 | €338,294 | ▼ 25.1% |
| Financial debts43 | - | - | - | €20,486 | €17,360 | ▼ 15.3% |
| Credit institutions430/8 | - | - | - | €20,486 | €17,360 | ▼ 15.3% |
| Trade debts44 | €12,452 | €42,211 | €66,095 | €75,995 | €46,679 | ▼ 38.6% |
| Suppliers440/4 | - | - | - | €75,995 | €46,679 | ▼ 38.6% |
| Advances received on contracts in progress46 | - | - | - | €273,462 | €137,565 | ▼ 49.7% |
| Taxes, remuneration and social security45 | - | - | - | €66,372 | €103,722 | ▲ 56.3% |
| Taxes450/3 | - | - | - | €53,198 | €76,907 | ▲ 44.6% |
| Remuneration and social security454/9 | - | - | - | €13,174 | €26,815 | ▲ 104% |
| Other amounts payable47/48 | - | - | - | €15,090 | €32,969 | ▲ 118% |
| Accrued charges and deferred income492/3 | - | - | - | €2,135 | €608 | ▼ 71.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,650 | €16,743 | €3,070 | €350 | -€165,987 | ▼ 47,525% |
| + Depreciation and write-downs630 | €11,486 | €11,127 | €2,527 | €3,742 | €6,276 | ▲ 67.7% |
| Operating cash flow (approximation) | €26,135 | €27,870 | €5,597 | €4,092 | -€159,711 | ▼ 4,003% |
| Investment in fixed assets (approximation) | - | -€4,091 | -€3,484 | -€7,243 | €0 | ▲ 100% |
| Change in cash | - | €18,273 | -€2,004 | €11,049 | €4,060 | ▼ 63.3% |
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
2025
11-09
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · event 05-09-2025
2024
19-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 264 days late
2022
30-09
Financial
Weakest financial yearnet -€165,987
Net result drops to -€165,987, the lowest in the series.
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 48 days late
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 301 days late
2021
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 357 days late
2019
30-09
Financial
Highest result since 2018net €16,743 ▲14.3%
Operating result €31,912, net result €16,743, both a record.
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
30-03
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
30-04
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Geel · 1 establishment unit since 2019
Ground area
1.1 ha
Building footprint
1,265 m²
Volume, LiDAR
21,040 m³
2 parcels, Flanders · tallest building 25.9 m, ±8 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Antwerpseweg 1, 2440 Geel
since 20192.290.218.894
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13373L0877/00F000 | Flanders | 9,356 m² | 1 · 892 m² | 25.9 m · 8 fl. |
| 13374F0335/00P000 | Flanders | 2,127 m² | 1 · 372 m² | 11.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 | BEN DE GROOF DE MERODELEI 112, 2300 TURNHOUT- |
05-09-2025 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 461 EUR awarded · 252 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 461 EUR | 252 EUR |
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,058. 6,767 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
Founded11-07-2002
Fiscal year end30-09
Activities, NACEBEL 2025
69101Activities of lawyers
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.