KWAZO
InactiveKWAZO was declared bankrupt on 28-10-2021 (Ondernemingsrechtbank Gent, afdeling Oudenaarde); the bankruptcy was closed by liquidation by judgment of 25-04-2024, published in the Belgian State Gazette on 03-05-2024.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 6 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 23-07-2021, 8 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
8 d early
2019
390 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 191 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2020, abbreviated schema
Equity
-€456,029▼ 27.0%
2019 · -€359,102
Total assets
€404,791▼ 31.8%
2019 · €593,259
Net result
-€96,927▲ 66.2%
2019 · -€286,451
Working capital
-€508,945▼ 19.7%
2019 · -€425,191
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line201820192020
Operating result-€27,520--€278,230▼ 911%-€88,362▲ 68.2%
Net result-€45,821--€286,451▼ 525%-€96,927▲ 66.2%
Equity-€72,652--€359,102▼ 394%-€456,029▼ 27.0%
Total assets€737,255-€593,259▼ 19.5%€404,791▼ 31.8%
Debt€809,906-€952,362▲ 17.6%€860,820▼ 9.6%
Working capital-€127,101--€425,191▼ 235%-€508,945▼ 19.7%
Staff (FTE)4-3.3▼ 17.5%2.7▼ 18.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €88,362 in 2020 against €278,230 in 2019; the loss shrinks.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €404,791
Fixed assets
€73,914 ▼ 30.0%
Current assets
€330,877 ▼ 32.2%
Key figures and ratios
EBITDA
-€68,588▲
2019 · -€250,969
Cash flow
-€77,153▲
2019 · -€259,190
Solvency
-112.7%▼
2019 · -60.5%
Current ratio
0.39▼
2019 · 0.53
Debt to equity
-0.05▲
2019 · -0.11
ROA
-23.9%▲
2019 · -48.3%
Debt ≤ 1 year
€839,822▼
2019 · €912,875
Debt > 1 year
€20,998▼
2019 · €39,486
Income taxes
€358=
2019 · €358
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,228 | €27,261 | €19,774 | ▼ 27.5% |
| Gross operating margin9900 | €137,936 | -€98,459 | €5,635 | ▲ 106% |
| Operating profit (loss)9901 | -€27,520 | -€278,230 | -€88,362 | ▲ 68.2% |
| Recurring financial income75 | €3,299 | €97 | - | - |
| Recurring financial charges65 | €21,209 | €7,960 | €8,207 | ▲ 3.1% |
| Profit (loss) for the period before taxes9903 | -€45,430 | -€286,093 | -€96,569 | ▲ 66.2% |
| Income taxes67/77 | €392 | €358 | €358 | = |
| Profit (loss) for the period9904 | -€45,821 | -€286,451 | -€96,927 | ▲ 66.2% |
| Profit (loss) for the period to be appropriated9905 | -€45,821 | -€286,451 | -€96,927 | ▲ 66.2% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €737,255 | €593,259 | €404,791 | ▼ 31.8% |
| Fixed assets21/28 | €111,918 | €105,575 | €73,914 | ▼ 30.0% |
| Tangible fixed assets22/27 | €108,343 | €99,805 | €68,144 | ▼ 31.7% |
| Financial fixed assets28 | €3,575 | €5,770 | €5,770 | = |
| Current assets29/58 | €625,337 | €487,685 | €330,877 | ▼ 32.2% |
| Amounts receivable within one year40/41 | €602,225 | €466,250 | €328,611 | ▼ 29.5% |
| Cash at bank and in hand54/58 | €22,130 | €19,576 | €1,574 | ▼ 92.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €737,255 | €593,259 | €404,791 | ▼ 31.8% |
| Equity10/15 | -€72,652 | -€359,102 | -€456,029 | ▼ 27.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€91,252 | -€377,702 | -€474,629 | ▼ 25.7% |
| Amounts payable17/49 | €809,906 | €952,362 | €860,820 | ▼ 9.6% |
| Amounts payable after more than one year17 | €56,468 | €39,486 | €20,998 | ▼ 46.8% |
| Amounts payable within one year42/48 | €752,439 | €912,875 | €839,822 | ▼ 8.0% |
| Trade debts44 | €334,752 | €482,489 | €385,402 | ▼ 20.1% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€45,821 | -€286,451 | -€96,927 | ▲ 66.2% |
| + Depreciation and write-downs630 | €26,228 | €27,261 | €19,774 | ▼ 27.5% |
| Operating cash flow (approximation) | -€19,594 | -€259,190 | -€77,153 | ▲ 70.2% |
| Investment in fixed assets (approximation) | - | -€20,918 | €11,887 | ▲ 157% |
| Change in cash | - | -€2,554 | -€18,003 | ▼ 605% |
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
2024
03-05
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Oudenaarde · event 25-04-2024
2021
05-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oudenaarde · event 28-10-2021
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 390 days late
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet -€286,451
Net result drops to -€286,451, the lowest in the series.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 58 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
18-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 18 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Koen VANDER STUYFT EINESTRAAT 22, 9700 OUDEN-
AARDE |
28-10-2021 → 25-04-2024 |