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Active
BE 0711.964.954Private limited companyOpen bankruptcy
Lotus Pleisterwerken
Provincieweg 151 ·9552 Herzele, Belgium· 7 yrs active
Sector: General electrical installation work
(43211)
Conclusion
A bankruptcy procedure is open for Lotus Pleisterwerken according to publications in the Belgian State Gazette. The 2021 annual accounts show negative equity (€-42k) and a net result of €-76k.
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €-42k |
| Net result | €-76k |
| Staff (FTE) | 1 |
| Better than sector | 7% |
Financial profile
34
/ 100
Fragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Health
0
Profitability
100
Solvency
40
Growth
32
Stability
0
Bankruptcy probability (12 mo)
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.
Risk Assessment
50 / 100
High riskRegister: open bankruptcyThis score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.
Components
· Open bankruptcy (+50)
Trust 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.
Checked score
0
/ 100
Critical
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.
Indicative credit limit
No credit
open bankruptcy
Score history
25
2019
83
2020
12
2021
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.80 (< 1.0)
-10
Equity
Negative equity
-25
Profitability
ROE 179% (≥ 10%)
+10
Interest coverage
Interest coverage -6.0× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Bankruptcy
Open bankruptcy
-60
Computed by Checked from the NBB filing for FY 2021 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Financial overview
Annual accounts filed on 21-04-2022 with the NBB · fiscal year 2021 · micro schema
Sector comparison
Fiscal year 2021 · NACE 43, Specialised construction activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -15.5% | 36.2% | |
| Net result | €-76k | €11k | |
| Equity | €-42k | €26k | |
| Gross operating margin | €3k | €31k | |
| Staff costs | €33k | €26k |
€-53k
-
19-21
€-76k
-
19-21
€-61k
-
19-21
€273k
-28.2%
19-21
€-42k
-
19-21
€-60k
-
19-21
1
+400.0%
19-21
€33k
-
19-21
€253
-96.5%
19-21
€315k
-9.1%
19-21
€298k
-5.9%
19-21
€9k
-41.0%
19-21
0.80
-23.6%
19-21
0.74
-25.0%
19-21
-15.5%
-
19-21
-7.46
-
19-21
179.2%
+122.4%
19-21
-27.8%
-
19-21
-5.99
-
19-21
Figures by fiscal year and ratios
| Fiscal year | 2021 | 2020 | 2019 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €-53k | €83k | €-16k |
| Net profit | €-76k | €27k | €-30k |
| Cash flow | €-61k | €40k | €-19k |
| Staff costs | €33k | - | - |
| Income taxes | €253 | €7k | - |
| Dividends | - | - | - |
| Total assets | €273k | €380k | €325k |
| Equity | €-42k | €33k | €-24k |
| Debt | €315k | €347k | €349k |
| of which ≤ 1y | €298k | €316k | €304k |
| of which > 1y | €9k | €16k | €22k |
| Working capital | €-60k | €15k | €-29k |
| Employees (FTE) | 1.0 | 0.2 | - |
Ratios (computed)
| 2021 | 2020 | 2019 | |
|---|---|---|---|
| Current ratio | 0.80 | 1.05 | 0.90 |
| Quick ratio | 0.74 | 0.98 | 0.87 |
| Working capital ratio | -21.9% | 3.8% | -9.1% |
| Solvency | -15.5% | 8.8% | -7.3% |
| Debt / equity | -7.46 | 0.48 | -0.94 |
| Long-term debt ratio | -0.22 | 0.48 | -0.94 |
| Interest coverage | -5.99 | - | - |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | -27.8% | 7.1% | -9.3% |
| ROE | 179.2% | 80.6% | 127.3% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2021
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2021 | 2020 | 2019 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €273k | €380k | €325k |
| Fixed assets | 21/28 | €35k | €49k | €50k |
| Tangible fixed assets | 22/27 | €32k | €46k | €50k |
| Financial fixed assets | 28 | €3k | €3k | - |
| Current assets | 29/58 | €238k | €331k | €275k |
| Stocks & contracts in progress | 3 | €19k | €21k | €9k |
| Amounts receivable within one year | 40/41 | €147k | €281k | €211k |
| Cash & bank | 54/58 | €71k | €28k | €54k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €273k | €380k | €325k |
| Equity | 10/15 | €-42k | €33k | €-24k |
| Contributions / capital | 10/11 | €7k | - | €7k |
| Accumulated profits (losses) | 14 | €-49k | €27k | €-30k |
| Amounts payable | 17/49 | €315k | €347k | €349k |
| Amounts payable after one year | 17 | €9k | €16k | €22k |
| Amounts payable within one year | 42/48 | €298k | €316k | €304k |
| Trade debts payable within one year | 44 | €87k | €96k | €91k |
| Income statement | ||||
| Gross operating margin | 9900 | €3k | €87k | €-14k |
| Operating result | 9901 | €-67k | €71k | €-28k |
| Financial income | 75 | €255 | €1k | - |
| Financial charges | 65 | €9k | €7k | €3k |
| Result before taxes | 9903 | €-75k | €64k | €-30k |
| Income taxes | 67/77 | €253 | €7k | - |
| Net result for the period | 9904 | €-76k | €57k | €-30k |
| Result to be appropriated | 9905 | €-76k | €57k | €-30k |
Directors & mandates
| Role | Name | Tenure |
|---|---|---|
| Curator | Ali HEERMAN EINESTRAAT 34, 9700 OUDENAARDE- |
09-02-2023 → present |
Legal Structure
| NACE primary | General electrical installation work(43211) |
| Legal form | Private limited company(610) |
| Incorporation | 23-10-2018 |
| Status | Active |
| Postal code | 9552 |
| First insolvency signal | 16-02-2023 |
| Latest insolvency signal | 16-02-2023 |
Establishment units
Lotus Pleisterwerken
since 20182.281.273.120
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41008A0476/00R000 | Flanders | 460 m² | 1 · 169 m² | 10.6 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2023
16-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oudenaarde · LOTUS PLEISTERWERKEN BV PROVINCIEWEG 151, 9552 HERZELE · event 09-02-2023
2022
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet €-76k ▼381%
Net result drops to €-76k, the lowest in the series.
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
26-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Lifecycle & Insolvency Signals
16-02-2023
Bankruptcy
Opening
Time machine, BS events + macro context
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgian State Gazette reading coverage
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.
Credit advice
No credit: a bankruptcy procedure is open.
Company registry (CBE)
Activities
General electrical installation work43211Plumbing work43221Insulation installation43230Specialised construction activities43291Plastering work43310Floor and wall tiling43331Specialised construction activities43992Other building cleaning and industrial cleaning81220
Names & trade names
| Legal nameNL | Lotus Pleisterwerken |
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