LITTO
InactiveLITTO was declared bankrupt on 14-03-2024 (Ondernemingsrechtbank Gent, afdeling Oostende); the bankruptcy was closed for insufficient assets by judgment of 07-07-2025, published in the Belgian State Gazette on 16-07-2025.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 22-09-2023, 53 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
53 d late
2021
31 d late
2020
52 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 41 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 2022, abbreviated schema
Turnover
€156,879▼ 47.5%
2021 · €298,567
EBIT margin
-1455.3%▼ 1402.5pp
2021 · -52.8%
Net result
-€2.3m▼ 1,054%
2021 · -€202,783
Working capital
-€5.4m
2021 · €1.1m
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
Line20182019202020212022
Turnover€2.4m-€2.0m▼ 15.6%€298,567€156,879▼ 47.5%
Operating result-€347,950--€321,212▲ 7.7%-€327,115▼ 1.8%-€157,523▲ 51.8%-€2.3m▼ 1,349%
Net result-€406,337--€370,239▲ 8.9%-€379,009▼ 2.4%-€202,783▲ 46.5%-€2.3m▼ 1,054%
EBIT margin-14.7%--16.1%▼ 1.4pp-52.8%-1455.3%▼ 1402.5pp
Equity-€2.1m--€2.5m▼ 17.3%-€2.9m▼ 15.1%-€3.1m▼ 7.0%-€5.4m▼ 75.6%
Total assets€4.0m-€3.7m▼ 7.7%€3.4m▼ 7.2%€2.5m▼ 27.2%€149,851▼ 94.0%
Debt€6.2m-€6.2m▲ 1.0%€6.3m▲ 1.8%€5.6m▼ 11.6%€5.6m▼ 0.2%
Working capital€1.5m-€1.4m▼ 9.8%€1.2m▼ 9.5%€1.1m▼ 14.2%-€5.4m
Staff (FTE)21.3-17.4▼ 18.3%12.8▼ 26.4%9.3▼ 27.3%7▼ 24.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.3m in 2022 against €157,523 in 2021; the loss grows and 2022 has the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €149,851
Fixed assets
€1,000 ▼ 99.5%
Current assets
€148,851 ▼ 93.5%
Key figures and ratios
EBITDA
-€2.1m▼
2021 · -€156,220
Cash flow
-€2.1m▼
2021 · -€201,480
Current ratio
0.03▼
2021 · 1.85
Quick ratio
0.02▼
2021 · 1.83
Debt to equity
-1.03▲
2021 · -1.81
Interest coverage
-36.26▼
2021 · -3.47
Debt ≤ 1 year
€5.5m▲
2021 · €1.2m
Debt > 1 year
€32,280▼
2021 · €4.3m
Income taxes
€250▲
2021 · €234
Staff costs
€299,723▼
2021 · €399,788
A ratio outside any meaningful range has been withheld (balance sheet total €149,851, equity -€5.4m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €3.0m | €2.2m | - | - | - | - |
| Turnover70 | €2.4m | €2.0m | - | €298,567 | €156,879 | ▼ 47.5% |
| Other operating income74 | €667,025 | €183,922 | - | - | - | - |
| Non-recurring operating income76A | €457 | €1,386 | €216 | €74,089 | €7,006 | ▼ 90.5% |
| Operating charges60/66A | €3.4m | €2.5m | - | - | - | - |
| Goods for resale, raw materials and consumables60 | €953,193 | €781,499 | - | - | - | - |
| Change in stocks: decrease (increase)609 | €100,433 | €14,500 | - | - | - | - |
| Services and other goods61 | €1.3m | €756,639 | - | - | - | - |
| Remuneration, social security and pensions62 | €900,870 | €805,783 | €533,417 | €399,788 | €299,723 | ▼ 25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €156,899 | €125,356 | €99,817 | €1,303 | €213,494 | ▲ 16,285% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €8,520 | €61,601 | €1.9m | ▲ 3,025% |
| Other operating charges640/8 | €38,939 | €38,019 | €22,287 | €5,311 | €6,997 | ▲ 31.7% |
| Non-recurring operating charges66A | - | - | - | €62,176 | €1,390 | ▼ 97.8% |
| Gross operating margin9900 | - | - | €336,926 | €372,656 | €163,885 | ▼ 56.0% |
| Operating profit (loss)9901 | -€347,950 | -€321,212 | -€327,115 | -€157,523 | -€2.3m | ▼ 1,349% |
| Financial income75/76B | - | - | €13 | €7 | €4 | ▼ 42.9% |
| Recurring financial income75 | €35 | €93 | €13 | €7 | €4 | ▼ 42.9% |
| Other financial income752/9 | €35 | €93 | - | - | - | - |
| Financial charges65/66B | €58,150 | €48,450 | €52,047 | €45,074 | €57,080 | ▲ 26.6% |
| Recurring financial charges65 | €58,150 | €48,450 | €52,047 | €45,074 | €57,080 | ▲ 26.6% |
| Debt charges650 | €46,962 | €33,681 | - | - | - | - |
| Other financial charges652/9 | €11,188 | €14,769 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€406,065 | -€369,569 | -€379,149 | -€202,590 | -€2.3m | ▼ 1,055% |
| Transfer from deferred taxes780 | - | - | €402 | €41 | - | - |
| Income taxes67/77 | €272 | €670 | €262 | €234 | €250 | ▲ 6.8% |
| Taxes670/3 | €272 | €670 | - | - | - | - |
| Profit (loss) for the period9904 | -€406,337 | -€370,239 | -€379,009 | -€202,783 | -€2.3m | ▼ 1,054% |
| Profit (loss) for the period to be appropriated9905 | -€406,337 | -€370,239 | -€379,009 | -€202,783 | -€2.3m | ▼ 1,054% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.0m | €3.7m | €3.4m | €2.5m | €149,851 | ▼ 94.0% |
| Fixed assets21/28 | €948,858 | €863,260 | €727,990 | €214,534 | €1,000 | ▼ 99.5% |
| Intangible fixed assets21 | €425,655 | €396,921 | €344,491 | - | - | - |
| Tangible fixed assets22/27 | €241,949 | €185,085 | €146,245 | - | - | - |
| Plant, machinery and equipment23 | €204,316 | €175,135 | €143,297 | - | - | - |
| Furniture and vehicles24 | €37,633 | €9,950 | €2,948 | - | - | - |
| Financial fixed assets28 | €281,254 | €281,254 | €237,254 | €214,534 | €1,000 | ▼ 99.5% |
| Affiliated companies280/1 | €213,494 | €213,494 | - | - | - | - |
| Participating interests280 | €213,494 | €213,494 | - | - | - | - |
| Other financial fixed assets284/8 | €67,760 | €67,760 | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €67,760 | €67,760 | - | - | - | - |
| Current assets29/58 | €3.1m | €2.8m | €2.7m | €2.3m | €148,851 | ▼ 93.5% |
| Amounts receivable after more than one year29 | €1.9m | €1.9m | €1.9m | €1.9m | - | - |
| Trade receivables290 | €1.9m | €1.9m | €1.9m | €1.9m | - | - |
| Stocks and contracts in progress3 | €171,556 | €157,055 | €110,359 | €30,339 | €36,744 | ▲ 21.1% |
| Stocks30/36 | €171,556 | €157,055 | €110,359 | €30,339 | €36,744 | ▲ 21.1% |
| Raw materials and consumables30/31 | €171,556 | €157,055 | - | - | - | - |
| Amounts receivable within one year40/41 | €947,668 | €801,519 | €679,600 | €313,805 | €101,288 | ▼ 67.7% |
| Trade receivables40 | €941,188 | €795,138 | €673,220 | €313,805 | €101,288 | ▼ 67.7% |
| Other amounts receivable41 | €6,480 | €6,381 | €6,380 | - | - | - |
| Cash at bank and in hand54/58 | €4,388 | €521 | €289 | €2,332 | €2,280 | ▼ 2.2% |
| Deferred charges and accrued income490/1 | €3,706 | €5,939 | €1,431 | €198 | €8,539 | ▲ 4,213% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.0m | €3.7m | €3.4m | €2.5m | €149,851 | ▼ 94.0% |
| Equity10/15 | -€2.1m | -€2.5m | -€2.9m | -€3.1m | -€5.4m | ▼ 75.6% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Profit (loss) carried forward14 | -€2.2m | -€2.6m | -€3.0m | -€3.2m | -€5.5m | ▼ 74.1% |
| Amounts payable17/49 | €6.2m | €6.2m | €6.3m | €5.6m | €5.6m | ▼ 0.2% |
| Amounts payable after more than one year17 | €4.6m | €4.7m | €4.8m | €4.3m | €32,280 | ▼ 99.3% |
| Financial debts170/4 | €655,538 | €670,395 | €685,847 | €338,118 | €32,280 | ▼ 90.5% |
| Other loans174 | €655,538 | €670,395 | - | - | - | - |
| Trade debts175 | €3.9m | €4.0m | €4.1m | €4.0m | - | - |
| Suppliers1750 | €3.9m | €4.0m | - | - | - | - |
| Amounts payable within one year42/48 | €1.6m | €1.5m | €1.5m | €1.2m | €5.5m | ▲ 349% |
| Financial debts43 | €236,670 | €311,313 | €271,342 | €283,839 | €242,337 | ▼ 14.6% |
| Credit institutions430/8 | €236,670 | €311,313 | €271,342 | €283,839 | €242,337 | ▼ 14.6% |
| Trade debts44 | €1.1m | €736,342 | €712,961 | €463,828 | €4.3m | ▲ 827% |
| Suppliers440/4 | €1.1m | €736,342 | €712,961 | €463,828 | €4.3m | ▲ 827% |
| Taxes, remuneration and social security45 | €145,605 | €272,940 | €358,087 | €333,372 | €278,612 | ▼ 16.4% |
| Taxes450/3 | €52,344 | €67,989 | €27,121 | €34,915 | €46,858 | ▲ 34.2% |
| Remuneration and social security454/9 | €93,261 | €204,951 | €330,966 | €298,457 | €231,754 | ▼ 22.3% |
| Other amounts payable47/48 | €119,697 | €162,788 | €138,299 | €151,518 | €710,620 | ▲ 369% |
| Accrued charges and deferred income492/3 | €25,782 | €26,181 | €26,596 | €18,846 | €19,575 | ▲ 3.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€406,337 | -€370,239 | -€379,009 | -€202,783 | -€2.3m | ▼ 1,054% |
| + Depreciation and write-downs630 | €156,899 | €125,356 | €99,817 | €1,303 | €213,494 | ▲ 16,285% |
| Operating cash flow (approximation) | -€249,438 | -€244,883 | -€279,192 | -€201,480 | -€2.1m | ▼ 956% |
| Investment in fixed assets (approximation) | - | -€39,758 | €35,453 | €512,153 | €40 | ▼ 100.0% |
| Change in cash | - | -€3,867 | -€232 | €2,043 | -€52 | ▼ 103% |
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
16-07
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Oostende · event 07-07-2025
2024
20-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oostende · event 14-03-2024
2023
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 53 days late
2022
31-12
Financial
Weakest financial yearnet -€2.3m
Net result drops to -€2.3m, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
21-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 52 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 28 days late
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
18-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
15-07
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
22-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | GREGORY BELPAME L. SPILLIAERTSTRAAT 63,
8400 OOSTENDE |
14-03-2024 → 07-07-2025 |
| Curator | JAN FERLIN L.SPIL-
LIAERTSTRAAT 63, 8400 OOSTENDE |
14-03-2024 → 07-07-2025 |