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Kwonghua

Active
Private limited company (pre-2019)·Activiteiten van eetgelegenheden met volledige bediening· 14 yrs active
Maalse Steenweg 104 ·8310 Brugge, Belgium
Open bankruptcy
KBO/BCE: BE 0838.764.641
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Age14 yrs
Staff (FTE)4.8
Real estate1 parcel · 1,068 m²

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for Kwonghua according to publications in the Belgian State Gazette. The 2021 annual accounts show equity of €173k and a net result of €77k.

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
14-08-2023
Bankruptcy Opening
Date: 08-08-2023 · Ondernemingsrechtbank Gent, afdeling Brugge · KWONGHUA BV MAALSE STEENWEG 104, 8310 BRUGGE · Publications in State Gazette ↗

Signals

Insufficient current data: the most recent filed accounts (financial year 2022) 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.
Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 25-07-2023, 6 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
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 31-12-2022, that is 31-07-2023.
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 25-07-2023 6 d early 2023-00266371
31-12-2021 31-07-2022 29-07-2022 2 d early 2022-20244639
31-12-2020 31-07-2021 11-08-2021 11 d late 2021-47800592
31-12-2019 31-07-2020 06-11-2020 98 d late 2020-69100486
31-12-2018 31-07-2019 27-08-2019 27 d late 2019-52700301
31-12-2017 31-07-2018 02-08-2018 2 d late 2018-42900581
31-12-2016 31-07-2017 28-08-2017 28 d late 2017-51200385
31-12-2015 31-07-2016 28-07-2016 3 d early 2016-39600470
31-12-2014 31-07-2015 31-07-2015 on the day 2015-39400452

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€77k+1183.8%
Working capital€34k
Directors1

Annual accounts & ratios

Source: NBB · 2021
Annual accounts filed on 25-07-2023 with the NBB · fiscal year 2022 · micro
€-100k€-50k€0€50k€100kOperating result 2018: €21k€21kNet result 2018: €-5k€-5kOperating result 2019: €-43k€-43kNet result 2019: €-50k€-50kOperating result 2020: €59k€59kNet result 2020: €6k€6kOperating result 2021: €100k€100kNet result 2021: €77k€77k2018201920202021
Operating resultNet result
EBITDA
€114k
+59.5% 18-21
Net profit
€77k
+1183.8% 18-21
Cash flow
€91k
+379.9% 18-21
Total assets
€383k
+47.0% 18-21
Equity
€173k
+80.4% 18-21
Working capital
€34k
- 18-21
Employees (FTE)
5
+37.1% 18-21
Staff costs
€74k
- 18-21
Income taxes
€18k
+15544.2% 18-21
Debt
€210k
+27.5% 18-21
Debt ≤ 1y
€196k
+19.0% 18-21
Debt > 1y
€14k
+155.1% 18-21
Current ratio
1.17
+68.5% 18-21
Quick ratio
1.15
+72.4% 18-21
Solvency
45.3%
+22.7% 18-21
Debt / equity
1.21
+785.9% 18-21
ROE
44.6%
+611.7% 18-21
ROA
20.2%
+773.5% 18-21
Interest coverage
23.25
- 18-21
Figures by fiscal year
Fiscal year2021
Depositmicro
Revenue-
EBITDA€114k
Net profit€77k
Cash flow€91k
Staff costs€74k
Income taxes€18k
Dividends-
Total assets€383k
Equity€173k
Debt€210k
of which ≤ 1y€196k
of which > 1y€14k
Working capital€34k
Employees (FTE)4.8
Ratios (computed)
2021
Current ratio1.17
Quick ratio1.15
Working capital ratio8.9%
Solvency45.3%
Debt / equity1.21
Long-term debt ratio0.08
Interest coverage23.25
Gross margin-
Net margin-
ROA20.2%
ROE44.6%
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€383k
Fixed assets 21/28€153k
Intangible fixed assets 21€28k
Tangible fixed assets 22/27€71k
Financial fixed assets 28€54k
Current assets 29/58€230k
Stocks & contracts in progress 3€5k
Amounts receivable within one year 40/41€2k
Cash & bank 54/58€222k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€383k
Equity 10/15€173k
Contributions / capital 10/11€90k
Reserves 13€83k
Amounts payable 17/49€210k
Amounts payable after one year 17€14k
Amounts payable within one year 42/48€196k
Trade debts payable within one year 44€41k
Income statement
Gross operating margin 9900€188k
Operating result 9901€100k
Financial charges 65€5k
Result before taxes 9903€95k
Income taxes 67/77€18k
Net result for the period 9904€77k
Result to be appropriated 9905€77k
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
24 / 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

Not yet read from the acts

8 acts for this company are in the Belgian State Gazette, of which we have read 0. This is therefore not a statement about the company: we have not extracted its directors from those acts yet.

Insolvency mandates

1 mandate
Role Name Tenure Source
Curator PAULINE REBRY
OUDE GENTWEG 81, 8820 TORHOUT-
 08-08-2023 → present Belgian State Gazette

Legal Structure

NACE primary Activiteiten van eetgelegenheden met volledige bediening(56111)
Legal form Private limited company (pre-2019)(015)
Incorporation22-08-2011
StatusActive
Postal code8310
First BS signal 14-08-2023
Latest BS signal 14-08-2023

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.

Maalse Steenweg 1048310 Brugge

Establishment units

1 location
Maalse Steenweg 104, 8310 Brugge
Eetgelegenheden met volledige bediening
since 20112.202.841.888
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area1,068 m²
Buildings1
Building footprint2,166 m²
Volume (LiDAR)11,782 m³
Tallest building7.0 m · ±2 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.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
31433D0011/00T016 Flanders 1,068 m² 1 · 2,166 m² 7.0 m · 2 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
14-08-2023
Bankruptcy Opening
Date: 08-08-2023 · Ondernemingsrechtbank Gent, afdeling Brugge · KWONGHUA BV MAALSE STEENWEG 104, 8310 BRUGGE · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262023-08-14 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes
Health24Profitability100Solvency72Growth78Stability0
55 / 100

Mixed profile: strong on profitability, weaker on stability.

All 5 axes are computed from data Checked has read.

Health 24
Profitability 100
Solvency 72
Growth 78
Stability 0

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Credit advice

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

Similar

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Comparable size, same sector
We hold annual accounts for 2,912 of the 20,286 companies in this sector. 2,036 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Eetgelegenheden met volledige bediening56101Activiteiten van eetgelegenheden met volledige bediening56111
Primary activity highlighted.
Names & trade names
Legal nameNL Kwonghua
Registered office
Maalse Steenweg 104
8310 Brugge, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.