KULAK GROUP
Open bankruptcyA bankruptcy procedure is open for KULAK GROUP according to publications in the Belgian State Gazette; curator: EYAL STERN. The 2021 annual accounts show negative equity (€-158k) and a net result of €73k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · 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.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
32 d late
2020
2 d early
2019
3 d early
← before the deadline
after the deadline →
Financials · fiscal year 2021, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€73k▲ 286%
2020 · €19k
2018: €-7k
2019: €-5k
2020: €19k
2018 → 2021
Working capital
€-192k▲ 17.0%
2020 · €-231k
2018: €-245k
2019: €-249k
2020: €-231k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€-245k-€-249k▼ 1.9%€-231k▲ 7.5%€-158k▲ 31.5%
Operating result€-7k-€-4k▲ 36.5%€19k€79k▲ 314%
Net result€-7k-€-5k▲ 35.7%€19k€73k▲ 286%
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2021 is 314% above 2020 and is the highest result in the available series.
Balance-sheet composition
Assets €111k
Fixed assets
€33k
Current assets
€78k
Key figures and ratios
EBITDA
€82k
Cash flow
€75k
Solvency
-141.9%▲
2020 · -857.7%
Current ratio
0.29▲
2020 · 0.10
Quick ratio
0.29▲
2020 · 0.10
Debt / equity
-1.70
ROA
65.1%▼
2020 · 69.8%
Interest coverage
345.84
Debt
€270k▲
2020 · €258k
Debt ≤ 1 year
€270k▲
2020 · €258k
Income taxes
€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 · 2021 against 2020
Balance sheet
Code20202021
Assets
Total assets20/58€27k€111k▲
Fixed assets21/28-€33k
Tangible fixed assets22/27-€33k
Furniture and vehicles24-€33k
Current assets29/58€27k€78k▲
Amounts receivable within one year40/41€22k€71k▲
Trade receivables40-€53k
Other amounts receivable41-€18k
Cash at bank and in hand54/58€5k€6k▲
Deferred charges and accrued income490/1-€1k
Equity and liabilities
Total equity and liabilities10/49€27k€111k▲
Equity10/15€-231k€-158k▲
Contributions10/11€12k€12k=
Capital10-€12k
Issued capital100-€19k
Uncalled capital101-€6k
Profit (loss) carried forward14€-243k€-171k▲
Amounts payable17/49€258k€270k▲
Amounts payable within one year42/48€258k€270k▲
Trade debts44€409€107k▲
Suppliers440/4-€107k
Taxes, remuneration and social security45-€21k
Taxes450/3-€21k
Other amounts payable47/48-€141k
Income statement
Code20202021
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k
Other operating charges640/8-€2k
Gross operating margin9900€20k€83k▲
Operating profit (loss)9901€19k€79k▲
Financial charges65/66B-€236
Recurring financial charges65€433€236▼
Profit (loss) for the period before taxes9903€19k€79k▲
Income taxes67/77-€7k
Profit (loss) for the period9904€19k€73k▲
Profit (loss) for the period to be appropriated9905€19k€73k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-171k
Profit (loss) brought forward from the previous period14P-€-243k
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
10-12
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · SRL KULAK GROUP AVENUE LOUISE 231, 1050 IXELLES · event 02-12-2024
2022
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 32 days late
2021
31-12
Financial
Highest result since 2018net €73k ▲286%
Operating result €79k, net result €73k, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €19k
Net result €19k after 2 loss-making years.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
12-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 196 days late
2016
05-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 66 days late
2015
09-12
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 131 days late
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 29 days late
2013
08-11
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 100 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Elsene · 1 establishment unit since 2010
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 ElseneGround area
5,820 m²
Building footprint
3,990 m²
Volume, LiDAR
89,472 m³
2 parcels, Brussels, Wallonia · tallest building 45.8 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
ADVINTIS
since 20102.187.122.247
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0131/00T000 | Brussels | 5,672 m² | 1 · 3,878 m² | 45.8 m · 8 fl. |
| 62805B0476/00H011 | Wallonia | 148 m² | 1 · 112 m² | 32.2 m · 9 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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 | EYAL STERN AVENUE LOUISE 54, 1050 IXELLES- |
02-12-2024 → present |
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded08-03-2010
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.