KOERDI
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 Brussels
- Declared bankrupt
- 21 January 2025
- Supervising judge
- Ingrid Claes
- Official Gazette
- 27-01-2025 (pdf) ↗search the document for 2025/103247
Deadlines
- Appeal or third-party opposition until
- passed on 11 February 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 20 February 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 26 February 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
- passed on 21 January 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Gregory BruneelZelliksesteenweg 12, 1082 Sint-Agatha-Berchemgb@linc.legal
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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Signals
1 signal.
+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?Addresses Are there other customers at risk in your own list?Process a list How is the Retail sale of second-hand clothing sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Equity
€107,657▲ 23.3%
2022 · €87,283
Total assets
€2.5m▲ 41.0%
2022 · €1.8m
Net result
€20,375
2022 · -€33,861
Working capital
€129,660▲ 21.0%
2022 · €107,155
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at 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 47, Retail trade, 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€979▼ 97.9%-€16,644-€18,074▼ 8.6%-€27,814▼ 53.9%€26,447
Net result-€11,795€9,757within the sector's middle half-€25,610below the sector's middle half-€33,861below the sector's middle half▼ 32.2%€20,375above the sector's middle half
Equity€136,997▼ 7.9%€146,755within the sector's middle half▲ 7.1%€121,144within the sector's middle half▼ 17.5%€87,283below the sector's middle half▼ 28.0%€107,657within the sector's middle half▲ 23.3%
Total assets€2.2m▲ 2.1%€2.1mabove the sector's middle half▼ 5.4%€2.0mabove the sector's middle half▼ 3.9%€1.8mabove the sector's middle half▼ 14.4%€2.5mabove the sector's middle half▲ 41.0%
Debt€2.1m▲ 2.9%€2.0m▼ 6.2%€1.9m▼ 2.9%€1.7m▼ 13.5%€2.4m▲ 41.9%
Working capital€166,881▲ 4.8%€156,346within the sector's middle half▼ 6.3%€136,317within the sector's middle half▼ 12.8%€107,155within the sector's middle half▼ 21.4%€129,660above the sector's middle half▲ 21.0%
Solvency6.1%▼ 0.7pp6.9%below the sector's middle half▲ 0.8pp5.9%below the sector's middle half▼ 1.0pp5.0%below the sector's middle half▼ 0.9pp4.4%within the sector's middle half▼ 0.6pp
Current ratio1.08=1.08within the sector's middle half=1.07below the sector's middle half▼ 0.011.07within the sector's middle half▼ 0.011.06within the sector's middle half▼ 0.01
Return on assets (ROA)-0.5%▼ 1.9pp0.5%below the sector's middle half▲ 1.0pp-1.3%below the sector's middle half▼ 1.7pp-1.9%below the sector's middle half▼ 0.7pp0.8%within the sector's middle half▲ 2.8pp
Staff (FTE)10▼ 12.3%10above the sector's middle half=10.1above the sector's middle half▲ 1.0%9.5above the sector's middle half▼ 5.9%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2023: €26,447 after a loss of €27,814 in 2022, the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €2.5m
Fixed assets
€7,998 ▼ 21.0%
Current assets
€2.5m ▲ 41.3%
Equity and liabilities €2.5m
Equity
€107,657 ▲ 23.3%
Debt
€2.4m ▲ 41.9%
Debt's share of the balance-sheet total rises from 95.0% to 95.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€28,573▲
2022 · -€24,911
Cash flow
€22,500▲
2022 · -€30,958
Quick ratio
0.85▼
2022 · 0.94
Debt to equity
21.94▲
2022 · 19.07
ROE
18.9%▲
2022 · -38.8%
Interest coverage
4.71▲
2022 · -4.12
Debt ≤ 1 year
€2.3m▲
2022 · €1.6m
Debt > 1 year
€30,000=
2022 · €30,000
Staff costs
€220,884▲
2022 · €152,891
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €16,000 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €92,820 | €152,891 | €220,884 | ▲ 44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,754 | €3,324 | €2,328 | €2,903 | €2,126 | ▼ 26.8% |
| Other operating charges640/8 | - | - | €1,600 | €24,719 | €960 | ▼ 96.1% |
| Non-recurring operating charges66A | - | - | - | - | €1,855 | - |
| Gross operating margin9900 | €313,798 | €143,632 | €78,674 | €152,700 | €252,273 | ▲ 65.2% |
| Operating profit (loss)9901 | €979 | -€16,644 | -€18,074 | -€27,814 | €26,447 | ▲ 195% |
| Financial income75/76B | - | - | €66 | €1 | €0 | ▼ 98.7% |
| Recurring financial income75 | €2,578 | €46,659 | €66 | €1 | €0 | ▼ 98.7% |
| Financial charges65/66B | - | - | €7,602 | €6,048 | €6,073 | ▲ 0.4% |
| Recurring financial charges65 | €13,003 | €18,664 | €7,602 | €6,048 | €6,073 | ▲ 0.4% |
| Profit (loss) for the period before taxes9903 | -€9,447 | €11,351 | -€25,609 | -€33,861 | €20,375 | ▲ 160% |
| Income taxes67/77 | €2,348 | €1,594 | €1 | €0 | - | - |
| Profit (loss) for the period9904 | -€11,795 | €9,757 | -€25,610 | -€33,861 | €20,375 | ▲ 160% |
| Profit (loss) for the period to be appropriated9905 | -€11,795 | €9,757 | -€25,610 | -€33,861 | €20,375 | ▲ 160% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.1m | €2.0m | €1.8m | €2.5m | ▲ 41.0% |
| Fixed assets21/28 | €15,732 | €20,409 | €18,081 | €10,128 | €7,998 | ▼ 21.0% |
| Tangible fixed assets22/27 | €6,525 | €11,201 | €8,874 | €10,128 | €4,248 | ▼ 58.1% |
| Plant, machinery and equipment23 | - | - | €5,628 | €7,783 | €2,428 | ▼ 68.8% |
| Furniture and vehicles24 | - | - | €162 | €0 | - | - |
| Other tangible fixed assets26 | - | - | €3,083 | €2,345 | €1,819 | ▼ 22.4% |
| Financial fixed assets28 | €9,207 | €9,207 | €9,207 | - | €3,750 | - |
| Current assets29/58 | €2.2m | €2.1m | €2.0m | €1.7m | €2.5m | ▲ 41.3% |
| Stocks and contracts in progress3 | €206,069 | €141,358 | €129,969 | €201,303 | €476,303 | ▲ 137% |
| Stocks30/36 | - | - | €129,969 | €201,303 | €476,303 | ▲ 137% |
| Amounts receivable within one year40/41 | €2.0m | €1.9m | €1.9m | €1.5m | €2.0m | ▲ 27.3% |
| Trade receivables40 | - | - | €1.9m | €1.5m | €2.0m | ▲ 28.0% |
| Other amounts receivable41 | - | - | €3,436 | €8,941 | €747 | ▼ 91.6% |
| Cash at bank and in hand54/58 | - | €25,848 | €11,778 | €2,919 | €27,464 | ▲ 841% |
| Deferred charges and accrued income490/1 | - | - | €179 | €179 | €234 | ▲ 30.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.1m | €2.0m | €1.8m | €2.5m | ▲ 41.0% |
| Equity10/15 | €136,997 | €146,755 | €121,144 | €87,283 | €107,657 | ▲ 23.3% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €64,153 | €64,153 | €64,153 | €64,153 | €64,153 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | €293 | €293 | €293 | = |
| Distributable reserves133 | - | - | €62,000 | €62,000 | €62,000 | = |
| Profit (loss) carried forward14 | €54,244 | €64,001 | €38,391 | €4,530 | €24,904 | ▲ 450% |
| Amounts payable17/49 | €2.1m | €2.0m | €1.9m | €1.7m | €2.4m | ▲ 41.9% |
| Amounts payable after more than one year17 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Other amounts payable178/9 | - | - | €30,000 | €30,000 | €30,000 | = |
| Amounts payable within one year42/48 | €2.1m | €2.0m | €1.9m | €1.6m | €2.3m | ▲ 42.7% |
| Financial debts43 | - | - | - | - | €24,079 | - |
| Credit institutions430/8 | - | - | - | - | €24,079 | - |
| Trade debts44 | €2.0m | €1.9m | €1.8m | €1.6m | €2.2m | ▲ 40.0% |
| Suppliers440/4 | - | - | €1.8m | €1.6m | €2.2m | ▲ 40.0% |
| Taxes, remuneration and social security45 | - | - | €26,335 | €24,276 | €68,742 | ▲ 183% |
| Taxes450/3 | - | - | €2,828 | - | €13,728 | - |
| Remuneration and social security454/9 | - | - | €23,507 | €24,276 | €55,014 | ▲ 127% |
| Other amounts payable47/48 | - | - | €35,767 | €27,058 | €22,058 | ▼ 18.5% |
| Accrued charges and deferred income492/3 | - | - | €3,254 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,795 | €9,757 | -€25,610 | -€33,861 | €20,375 | ▲ 160% |
| + Depreciation and write-downs630 | €3,754 | €3,324 | €2,328 | €2,903 | €2,126 | ▼ 26.8% |
| Operating cash flow (approximation) | -€8,040 | €13,081 | -€23,282 | -€30,958 | €22,500 | ▲ 173% |
| Investment in fixed assets (approximation) | - | -€8,000 | €0 | €5,050 | €5 | ▼ 99.9% |
| Change in cash | - | - | -€14,070 | -€8,859 | €24,545 | ▲ 377% |
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
27-01
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · event 21-01-2025
06-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 159 days late
2023
31-12
Financial
Back to profitnet €20,375
Net result €20,375 after 2 loss-making years.
31-12
Financial
Equity above €100,000Eq €107,657 ▲23.3%
Equity rises from €87,283 to €107,657.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€33,861
Net result drops to -€33,861, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €9,757
Net result €9,757 after one loss-making year.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Show earlier events
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
23-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
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
No directors read yet: 0 of 10 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2002
Ground area
760 m²
Building footprint
423 m²
Volume, LiDAR
5,151 m³
2 parcels, Brussels · tallest building 19.6 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
H.H RENOV
since 20022.134.464.610
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21010B0014/00W005 | Brussels | 464 m² | 1 · 301 m² | 15.3 m · 5 fl. |
| 21362B0037/00Z003 | Brussels | 296 m² | 1 · 122 m² | 19.6 m · 6 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 | GREGORY BRUNEEL Zelliksesteenweg 12, 1082 Sint-Agatha-Berchem |
21-01-2025 → present |
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Of 948 companies in this sector we hold annual accounts for 185. 133 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded18-01-2002
Fiscal year end31-12
Activities, NACEBEL 2025
47792Retail sale of second-hand clothing
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 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.