KEYDATA
Open bankruptcyAre 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 Walloon Brabant
- Declared bankrupt
- 16 October 2025
- Supervising judge
- Eric De Volder
- Official Gazette
- 22-10-2025 (pdf) ↗search the document for 2025/142968
Deadlines
- Appeal or third-party opposition until
- passed on 6 November 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 15 November 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 27 November 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 16 October 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Xavier Ibarrondo LasaOff.Park Green Alley,Rue Du Panier Vert 70, 1400 Nivellesxavier.ibarrondo@novalis.law
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.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
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.Creditor guide for this company
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Overview
Activity
Business and other management consultancy
NACE 70200
1 site
Size
€120,919total assets 2022
- Equity
- €4,401
- Loss
- -€12,222
Financial health
Open bankruptcy: no score
Structure
Accounts 798 days overdue0 of 3 deeds read
Signals- Open bankruptcyShow the evidence
Signals
1 signal.
+raises risk
Checked, nothing found (1)
- OpeningTribunal de l’entreprise du Brabant…
- Annual accounts filedfiscal year 2022 · full…
- Annual accounts filedfiscal year 2021 · micro…
Financials · fiscal year 2022, full schema
Turnover
€94,778▼ 7.6%
2019 · €102,564
EBIT margin
13.6%▼ 2.9pp
2019 · 16.5%
Net result
-€12,222▲ 57.5%
2021 · -€28,731
Working capital
€8,981▼ 61.8%
2021 · €23,523
Trend over the years
2018 to 2022, 5 fiscal years 2018 to 2022, 5 fiscal years
The operating result stays negative: a loss of €13,566 in 2022 against €30,634 in 2021; the loss shrinks.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Turnover€94,778
2020
Operating result-€13,566
2022
Net result-€12,222
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€120,919
2022
Equity€4,401
2022
Debt€109,618
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€8,981
2022
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin13.6%
2020
Return on assets (ROA)-10.1%
2022
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency3.6%
2022
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.08
2022
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Turnover€99,720-€102,564▲ 2.9%€94,778▼ 7.6%
Operating result€25,127-€16,955▼ 32.5%€12,901▼ 23.9%-€30,634-€13,566▲ 55.7%
Net result€19,395-€15,550▼ 19.8%€11,874within the sector's middle half▼ 23.6%-€28,731below the sector's middle half-€12,222below the sector's middle half▲ 57.5%
EBIT margin25.2%-16.5%▼ 8.7pp13.6%▼ 2.9pp
Equity€97,215-€98,480▲ 1.3%€45,354within the sector's middle half▼ 53.9%€16,623below the sector's middle half▼ 63.3%€4,401below the sector's middle half▼ 73.5%
Total assets€119,721-€136,514▲ 14.0%€118,292within the sector's middle half▼ 13.3%€23,870below the sector's middle half▼ 79.8%€120,919below the sector's middle half▲ 407%
Debt€15,606-€31,134▲ 99.5%€66,038▲ 112%€348▼ 99.5%€109,618▲ 31,445%
Working capital€73,117-€67,104▼ 8.2%€22,916within the sector's middle half▼ 65.8%€23,523within the sector's middle half▲ 2.6%€8,981within the sector's middle half▼ 61.8%
Solvency81.2%-72.1%▼ 9.1pp38.3%within the sector's middle half▼ 33.8pp69.6%within the sector's middle half▲ 31.3pp3.6%below the sector's middle half▼ 66.0pp
Current ratio5.69-4.17▼ 1.511.35within the sector's middle half▼ 2.8268.69above the sector's middle half▲ 67.341.08within the sector's middle half▼ 67.61
Return on assets (ROA)16.2%-11.4%▼ 4.8pp10.0%within the sector's middle half▼ 1.4pp-120.4%below the sector's middle half▼ 130.4pp-10.1%below the sector's middle half▲ 110.3pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €120,919
Fixed assets
€2,320
Current assets
€118,599
Equity and liabilities €120,919
Equity
€4,401 ▼ 73.5%
Provisions
€6,900 =
Debt
€109,618 ▲ 31,445%
Debt's share of the balance-sheet total rises from 1.5% to 90.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€13,505
Cash flow
-€12,161
Debt to equity
24.91▲
2021 · 0.02
ROE
-277.7%▼
2021 · -172.8%
Interest coverage
-122.72
Debt ≤ 1 year
€109,618▲
2021 · €348
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €99,720 | €102,564 | €94,778 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1,630 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,730 | €10,264 | €5,268 | - | €61 | - |
| Other operating charges640/8 | - | - | - | €375 | - | - |
| Non-recurring operating charges66A | - | - | - | €28,629 | - | - |
| Gross operating margin9900 | €31,424 | €29,301 | €30,815 | -€1,630 | -€13,505 | ▼ 729% |
| Operating profit (loss)9901 | €25,127 | €16,955 | €12,901 | -€30,634 | -€13,566 | ▲ 55.7% |
| Financial income75/76B | - | - | - | €2,678 | €1,455 | ▼ 45.7% |
| Recurring financial income75 | €3,947 | €4,133 | €5,586 | €2,678 | €1,455 | ▼ 45.7% |
| Financial charges65/66B | - | - | - | €931 | €110 | ▼ 88.2% |
| Recurring financial charges65 | €6 | €194 | €220 | €223 | €110 | ▼ 50.6% |
| Non-recurring financial charges66B | - | - | - | €708 | - | - |
| Profit (loss) for the period before taxes9903 | €29,068 | €20,894 | €17,388 | -€28,887 | -€12,222 | ▲ 57.7% |
| Income taxes67/77 | €9,673 | €5,343 | €5,513 | -€156 | - | - |
| Profit (loss) for the period9904 | €19,395 | €15,550 | €11,874 | -€28,731 | -€12,222 | ▲ 57.5% |
| Profit (loss) for the period to be appropriated9905 | €19,395 | €15,550 | €11,874 | -€28,731 | -€12,222 | ▲ 57.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,721 | €136,514 | €118,292 | €23,870 | €120,919 | ▲ 407% |
| Fixed assets21/28 | €30,998 | €48,246 | €29,338 | - | €2,320 | - |
| Tangible fixed assets22/27 | €30,290 | €47,538 | €28,629 | - | €2,320 | - |
| Furniture and vehicles24 | - | - | - | - | €2,320 | - |
| Financial fixed assets28 | €708 | €708 | €708 | - | - | - |
| Current assets29/58 | €88,723 | €88,268 | €88,955 | €23,870 | €118,599 | ▲ 397% |
| Amounts receivable within one year40/41 | €75,951 | €81,276 | €65,186 | €23,816 | €46,069 | ▲ 93.4% |
| Trade receivables40 | - | - | - | - | €25,484 | - |
| Other amounts receivable41 | - | - | - | €23,816 | €20,585 | ▼ 13.6% |
| Cash at bank and in hand54/58 | €11,534 | €5,111 | €23,361 | €54 | €72,530 | ▲ 133,056% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,721 | €136,514 | €118,292 | €23,870 | €120,919 | ▲ 407% |
| Equity10/15 | €97,215 | €98,480 | €45,354 | €16,623 | €4,401 | ▼ 73.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €20,460 | ▲ 10.0% |
| Capital10 | - | - | - | €18,600 | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - |
| Outside capital11 | - | - | - | - | €20,460 | - |
| Other1109/19 | - | - | - | - | €20,460 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - |
| Legal reserve130 | - | - | - | €1,860 | - | - |
| Profit (loss) carried forward14 | €76,755 | €78,020 | €24,894 | -€3,837 | -€16,059 | ▼ 319% |
| Provisions and deferred taxes16 | €6,900 | €6,900 | €6,900 | €6,900 | €6,900 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €6,900 | €6,900 | = |
| Pensions and similar obligations160 | - | - | - | €6,900 | €6,900 | = |
| Amounts payable17/49 | €15,606 | €31,134 | €66,038 | €348 | €109,618 | ▲ 31,445% |
| Amounts payable after more than one year17 | - | €9,970 | - | - | - | - |
| Amounts payable within one year42/48 | €15,606 | €21,164 | €66,038 | €348 | €109,618 | ▲ 31,445% |
| Trade debts44 | €466 | €629 | €304 | €348 | €109,618 | ▲ 31,445% |
| Suppliers440/4 | - | - | - | €348 | €109,618 | ▲ 31,445% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,395 | €15,550 | €11,874 | -€28,731 | -€12,222 | ▲ 57.5% |
| + Depreciation and write-downs630 | €4,730 | €10,264 | €5,268 | - | €61 | - |
| Operating cash flow (approximation) | €24,125 | €25,814 | €17,142 | -€28,731 | -€12,161 | ▲ 57.7% |
| Investment in fixed assets (approximation) | - | -€27,512 | €13,641 | - | - | - |
| Change in cash | - | -€6,423 | €18,249 | -€23,306 | €72,475 | ▲ 411% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 82,671 companies in this sector we hold annual accounts for 54,225. 15,198 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Directors
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | XAVIER IBARRONDO LASA Off.Park Green Alley,Rue Du Panier Vert 70, 1400 Nivelles |
16-10-2025 → present |
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
2025
22-10
Bankruptcy
Opening
Tribunal de l’entreprise du Brabant wallon · event 16-10-2025
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 654 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet -€28,731
Net result drops to -€28,731, the lowest in the series.
31-12
Financial
Liquidity times 51current ratio 68.69
Current ratio from 1.35 to 68.69; short-term debt falls from €66,038 to €348.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
2015
30-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 61 days late
2014
24-10
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 85 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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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Register details
Identification
Legal formPrivate limited company (pre-2019)
Founded11-03-1996
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
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 7 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 2000
Ground area
2,752 m²
Building footprint
399 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
Place de Warêt-la-Chaussée 4, 5310 Eghezée
since 2000unit no. 2.075.685.182
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25055C0308/00C003 | Wallonia | 1,756 m² | 1 · 250 m² | - |
| 92133B0130/00Z000 | Wallonia | 996 m² | 1 · 149 m² | - |
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.