KGR GROUP

Open bankruptcy

Private limited company (pre-2019)founded 2017KBO/BCE: BE 0685.764.066

A bankruptcy procedure is open for KGR GROUP according to publications in the Belgian State Gazette. The 2020 annual accounts show equity of €74k and a net result of €44k.

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Signals

Four signals. The signal on the left, the evidence on the right.

+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

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

Filed after the deadline

The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 27-10-2021, 88 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 3 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

not filed

2022

not filed

2021

not filed

2020

88 d late

2019

84 d late

← before the deadline after the deadline →

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 2020, micro schema

Equity

€74k▲ 151%

2019 · €29k

2018: €-8k 2019: €29k

2018 → 2020

Total assets

€139k▲ 271%

2019 · €38k

2018: €7k 2019: €38k

2018 → 2020

Net result

€44k▲ 20.0%

2019 · €37k

2018: €-14k 2019: €37k

2018 → 2020

Working capital

€67k▲ 128%

2019 · €29k

2018: €-8k 2019: €29k

2018 → 2020

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line201820192020Trend

Equity€-8k-€29k€74k▲ 151%

Operating result€-14k-€44k€60k▲ 36.1%

Net result€-14k-€37k€44k▲ 20.0%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen two years in a row; 2020 is 36% above 2019 and is the highest result in the available series.

Balance-sheet composition

2020 in colour, 2019 as the grey bar beneath

Assets €139k

95.2%

Fixed assets €7k

Current assets €133k

Equity and liabilities €139k

53.0%

47.0%

Equity €74k▲ 151%

Debt €66k▲ 706%

The debt ratio rises from 21.7% to 47.0%. Equity and debt are higher.

Key figures and ratios

2020 value · change against 2019

EBITDA

€62k

Cash flow

€47k

Solvency

53.0%▼

2019 · 78.3%

Current ratio

2.02▼

2019 · 4.61

Quick ratio

2.02▼

2019 · 4.61

ROE

60.2%▼

2019 · 126.1%

ROA

31.9%▼

2019 · 98.8%

Debt

€66k▲

2019 · €8k

Debt ≤ 1 year

€66k▲

2019 · €8k

Income taxes

€15k▲

2019 · €7k

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 · 2020 against 2019

Balance sheet Code20192020

Assets

Total assets20/58€38k€139k▲

Fixed assets21/28-€7k

Tangible fixed assets22/27-€7k

Current assets29/58€38k€133k▲

Amounts receivable within one year40/41€34k€132k▲

Cash at bank and in hand54/58€3k€430▼

Equity and liabilities

Total equity and liabilities10/49€38k€139k▲

Equity10/15€29k€74k▲

Contributions10/11€6k-

Profit (loss) carried forward14€23k€68k▲

Amounts payable17/49€8k€66k▲

Amounts payable within one year42/48€8k€66k▲

Trade debts44€2k€44k▲

Income statement Code20192020

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k

Gross operating margin9900€51k€74k▲

Operating profit (loss)9901€44k€60k▲

Recurring financial income75€2-

Recurring financial charges65€372€550▲

Profit (loss) for the period before taxes9903€44k€59k▲

Income taxes67/77€7k€15k▲

Profit (loss) for the period9904€37k€44k▲

Profit (loss) for the period to be appropriated9905€37k€44k▲

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Timeline · acts, filings and financial milestones

All 9Signals 3Financial 3Filings 3

2022

07-07

Bankruptcy Opening

Tribunal de l’entreprise francophone de Bruxelles · KGR GROUP SPRL AVENUE DE LA BRABANCONNE 61, 1000 BRUXELLES 1 · event 30-06-2022

2021

27-10

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 88 days late

2020

31-12

Financial Highest result since 2018net €44k ▲20%

Operating result €60k, net result €44k, both a record.

23-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 84 days late

19-10

Bankruptcy Bankruptcy reversal

Tribunal de l’entreprise francophone de Bruxelles · KGR GROUP SPRL AVENUE DE LA BRABAN- CONNE 61, 1000 BRUXELLES 1. déclarée le 14 septembre 2020 · event 13-10-2020

21-09

Bankruptcy Opening

Tribunal de l’entreprise francophone de Bruxelles · KGR GROUP SPRL AVENUE DE LA BRABANCONNE 61, 1000 BRUXELLES 1 · event 14-09-2020

2019

31-12

Financial Back to profitnet €37k

Net result €37k after one loss-making year.

31-12

Financial Liquidity times 9current ratio 4.61

Current ratio from 0.49 to 4.61; short-term debt falls from €15k to €8k.

25-10

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 86 days late

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

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

1 establishment unit since 2017

establishment The establishment unit on the map

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.

Ground area

108 m²

Building footprint

74 m²

Volume, LiDAR

1,115 m³

Parcel 21806F0071/00N003, Brussels · tallest building 18.9 m, ±5 floors. Linked by address, not a title deed.

1 establishment unit

CHEZ ZOE

Site preparation

since 20172.270.482.661

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21806F0071/00N003	Brussels	108 m²	1 · 74 m²	18.9 m · 5 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Insolvency mandates

2 mandates

Role	Name	Tenure
Curator	FRANCOIS LE GENTIL DE ROSMORDUC AVENUE LOUISE 349/17, 1050 BRUXELLES 5	30-06-2022 → present
Curator	Catherine HERINCKX AVENUE DU CONGO 1, 1050 BRUXELLES 5 ↔ Also on 176 other cases	14-09-2020 → present