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KULAK GROUP

Active
Private limited company (pre-2019)· 16 yrs active
Louizalaan 231 ·1050 Elsene, Belgium
Open bankruptcy
KBO/BCE: BE 0823.747.160
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Age16 yrs
Board1
Real estate1 parcel · 5,672 m²

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for KULAK GROUP according to publications in the Belgian State Gazette. The 2021 annual accounts show negative equity (€-158k) and a net result of €73k.

Based on the State Gazette, CBE and 4 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Insolvency timeline

1 events
10-12-2024
Bankruptcy Opening
Date: 02-12-2024 · Tribunal de l’entreprise francophone de Bruxelles · SRL KULAK GROUP AVENUE LOUISE 231, 1050 IXELLES · Publications in State Gazette ↗

Signals

Insufficient current data: the most recent filed accounts (financial year 2021) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 01-09-2022, 32 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.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2021, that is 31-07-2022.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 nothing on record not filed -
31-12-2022 31-07-2023 nothing on record not filed -
31-12-2021 31-07-2022 01-09-2022 32 d late 2022-20400527
31-12-2020 31-07-2021 29-07-2021 2 d early 2021-43800331
31-12-2019 31-07-2020 28-07-2020 3 d early 2020-37600273
31-12-2018 31-07-2019 30-07-2019 1 d early 2019-43300310
31-12-2017 31-07-2018 25-07-2018 6 d early 2018-39300404
31-12-2016 31-07-2017 12-02-2018 196 d late 2018-04900526
31-12-2015 31-07-2016 05-10-2016 66 d late 2016-65200403
31-12-2014 31-07-2015 09-12-2015 131 d late 2015-68700003

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€73k
Working capital€-192k+17.0%
Directors1

Annual accounts & ratios

Source: NBB · 2021
Annual accounts filed on 01-09-2022 with the NBB · fiscal year 2021 · volledig
€-300k€-200k€-100k€0€100kOperating result 2018: €-7k€-7kNet result 2018: €-257k€-257kOperating result 2019: €-4k€-4kNet result 2019: €-262k€-262kOperating result 2020: €19k€19kNet result 2020: €-243k€-243kOperating result 2021: €79k€79kNet result 2021: €73k€73k2018201920202021
Operating resultNet result
EBITDA
€82k
- 18-21
Net profit
€73k
- 18-21
Cash flow
€75k
- 18-21
Total assets
€111k
+314.5% 18-21
Equity
€-158k
+31.5% 18-21
Working capital
€-192k
+17.0% 18-21
Income taxes
€7k
- 18-21
Debt
€270k
+4.7% 18-21
Debt ≤ 1y
€270k
+4.7% 18-21
Current ratio
0.29
+177.1% 18-21
Quick ratio
0.29
+177.1% 18-21
Solvency
-141.9%
+83.5% 18-21
Debt / equity
-1.70
- 18-21
ROE
-45.9%
- 18-21
ROA
65.1%
- 18-21
Interest coverage
345.84
- 18-21
Figures by fiscal year
Fiscal year2021
Depositvolledig
Revenue-
EBITDA€82k
Net profit€73k
Cash flow€75k
Staff costs-
Income taxes€7k
Dividends-
Total assets€111k
Equity€-158k
Debt€270k
of which ≤ 1y€270k
of which > 1y-
Working capital€-192k
Employees (FTE)-
Ratios (computed)
2021
Current ratio0.29
Quick ratio0.29
Working capital ratio-171.9%
Solvency-141.9%
Debt / equity-1.70
Long-term debt ratio-
Interest coverage345.84
Gross margin-
Net margin-
ROA65.1%
ROE-45.9%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2021
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2021
Balance sheet, Assets
TOTAL ASSETS 20/58€111k
Fixed assets 21/28€33k
Tangible fixed assets 22/27€33k
Current assets 29/58€78k
Amounts receivable within one year 40/41€71k
Cash & bank 54/58€6k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€111k
Equity 10/15€-158k
Contributions / capital 10/11€12k
Accumulated profits (losses) 14€-171k
Amounts payable 17/49€270k
Amounts payable within one year 42/48€270k
Trade debts payable within one year 44€107k
Income statement
Gross operating margin 9900€83k
Operating result 9901€79k
Financial charges 65€236
Result before taxes 9903€79k
Income taxes 67/77€7k
Net result for the period 9904€73k
Result to be appropriated 9905€73k
You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2021 · computed
0 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2021 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Directors

Directors & mandates

3 directors
Current directors & mandates
  • BAZIRE Thomas
    Director
    State Gazette act 24174321 (11-12-2024)
    Current
    11-12-2024 → present
Former directors (2)
  • BEN AZOUZ Abderazak
    Director
    State Gazette act 24174321 (11-12-2024)
    Former
    - → 11-12-2024
  • Mustafa KULAK
    Gérant
    State Gazette act 23034100 (09-03-2023)
    Former
    - → 09-03-2023
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

1 mandate
Role Name Tenure Source
Curator EYAL STERN
AVENUE LOUISE 54, 1050 IXELLES-
 02-12-2024 → present Belgian State Gazette

Legal Structure

NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation08-03-2010
StatusActive
Postal code1050
First BS signal 10-12-2024
Latest BS signal 10-12-2024

Structure & network

Ownership & control

No ownership or control structure found in the sources.

For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.

1 court or liquidation mandate is on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
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.

Louizalaan 2311050 Elsene

Establishment units

1 location
ADVINTIS
Boulevard Frère-Orban 10, 4000 LiègeHouwen, bewerken en afwerken van natuursteen
since 20102.187.122.247
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area5,672 m²
Buildings1
Building footprint3,878 m²
Volume (LiDAR)86,391 m³
Tallest building45.8 m · ±8 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21807G0131/00T000 Brussels 5,672 m² 1 · 3,878 m² 45.8 m · 8 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

1 event from the State Gazette
10-12-2024
Bankruptcy Opening
Date: 02-12-2024 · Tribunal de l’entreprise francophone de Bruxelles · SRL KULAK GROUP AVENUE LOUISE 231, 1050 IXELLES · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262024-12-10 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgisch Staatsblad · acts

4 acts
Capital history · 4
11-12-2024
Capital change
13-09-2023
Capital change
09-03-2023
Capital change
27-01-2022
Capital change
All acts · 4 updated 1 year ago
2024
11-12-2024 All shares are now held by a single shareholder Capital & shares
2023
13-09-2023 Transaction in capital or shares Capital & shares
09-03-2023 All shares are now held by a single shareholder Capital & shares
2022
27-01-2022 Transaction in capital or shares Capital & shares

Analysis

Snowflake analysis

financial profile on 5 axes
Health0Profitability0Solvency33Growth78Stability0
22 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0
Profitability 0
Solvency 33
Growth 78
Stability 0

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Credit advice

verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Company registry

Company registry (CBE)

Crossroads Bank
Names & trade names
Legal nameFR KULAK GROUP
Registered office
Louizalaan 231
1050 Elsene, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.