M & D GYPSE
Open bankruptcyA bankruptcy procedure is open for M & D GYPSE according to publications in the Belgian State Gazette; curator: ROLAND PROPS.
Summary
The 2024 annual accounts show equity of €67k and a net result of €-77k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
67 d late
2022
89 d late
2021
79 d late
2020
3 d early
2019
139 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€67k▼ 53.4%
2023 · €144k
2018: €24k
2019: €11k▼ -54.5% vs 2018lowest in 7 years
2020: €46k▲ +321% vs 2019
2021: €88k▲ +90.3% vs 2020
2022: €106k▲ +20.6% vs 2021
2023: €144k▲ +35.0% vs 2022highest in 7 years
2024: €67k▼ -53.4% vs 2023
2018 → 2024
Total assets
€77k▼ 58.6%
2023 · €187k
2018: €124k
2019: €191k▲ +53.6% vs 2018
2020: €297k▲ +56.0% vs 2019highest in 7 years
2021: €217k▼ -27.0% vs 2020
2022: €249k▲ +14.9% vs 2021
2023: €187k▼ -25.0% vs 2022
2024: €77k▼ -58.6% vs 2023lowest in 7 years
2018 → 2024
Net result
€-77k
2023 · €37k
2018: €4k
2019: €-13k▼ -419% vs 2018
2020: €44k▲ +432% vs 2019highest in 7 years
2021: €42k▼ -4.3% vs 2020
2022: €31k▼ -25.5% vs 2021
2023: €37k▲ +19.5% vs 2022
2024: €-77k▼ -306% vs 2023lowest in 7 years
2018 → 2024
Working capital
€58k▼ 54.0%
2023 · €127k
2018: €5k
2019: €182▼ -96.0% vs 2018lowest in 7 years
2020: €41k▲ +22337% vs 2019
2021: €69k▲ +70.1% vs 2020
2022: €88k▲ +27.1% vs 2021
2023: €127k▲ +44.4% vs 2022highest in 7 years
2024: €58k▼ -54.0% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€46k-€88k▲ 90.3%€106k▲ 20.6%€144k▲ 35.0%€67k▼ 53.4%
2020: €46klowest in 5 years
2021: €88k▲ +90.3% vs 2020
2022: €106k▲ +20.6% vs 2021
2023: €144k▲ +35.0% vs 2022highest in 5 years
2024: €67k▼ -53.4% vs 2023
Operating result€60k-€62k▲ 3.1%€42k▼ 32.2%€50k▲ 18.0%€-78k
2020: €60k
2021: €62k▲ +3.1% vs 2020highest in 5 years
2022: €42k▼ -32.2% vs 2021
2023: €50k▲ +18.0% vs 2022
2024: €-78k▼ -257% vs 2023lowest in 5 years
Net result€44k-€42k▼ 4.3%€31k▼ 25.5%€37k▲ 19.5%€-77k
2020: €44khighest in 5 years
2021: €42k▼ -4.3% vs 2020
2022: €31k▼ -25.5% vs 2021
2023: €37k▲ +19.5% vs 2022
2024: €-77k▼ -306% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €78k after €50k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €77k
Fixed assets
€8k ▼ 53.7%
Current assets
€69k ▼ 59.1%
Equity and liabilities €77k
Equity
€67k ▼ 53.4%
Debt
€11k ▼ 75.8%
Debt's share of the balance-sheet total falls from 23.2% to 13.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-72k▼
2023 · €62k
Cash flow
€-70k▼
2023 · €49k
Current ratio
6.57▲
2023 · 4.05
Debt to equity
0.16▼
2023 · 0.30
ROE
-114.5%▼
2023 · 25.9%
ROA
-99.0%▼
2023 · 19.9%
Interest coverage
-105.79▼
2023 · 11.00
Debt ≤ 1 year
€11k▼
2023 · €42k
Staff costs
€-183
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 48 lines
Balance sheet
Code20232024
Assets
Total assets20/58€187k€77k▼
Fixed assets21/28€18k€8k▼
Tangible fixed assets22/27€13k€4k▼
Plant, machinery and equipment23€6k€3k▼
Furniture and vehicles24€7k€807▼
Financial fixed assets28€5k€4k▼
Current assets29/58€169k€69k▼
Amounts receivable after more than one year29€68k€30k▼
Other amounts receivable291€68k€30k▼
Amounts receivable within one year40/41€57k€12k▼
Trade receivables40€42k€12k▼
Other amounts receivable41€14k-
Cash at bank and in hand54/58€37k€27k▼
Deferred charges and accrued income490/1€7k-
Equity and liabilities
Total equity and liabilities10/49€187k€77k▼
Equity10/15€144k€67k▼
Contributions10/11€18k€18k=
Reserves13€87k€87k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€85k€85k=
Profit (loss) carried forward14€39k€-37k▼
Amounts payable17/49€43k€11k▼
Amounts payable within one year42/48€42k€11k▼
Current portion of amounts payable after more than one year42€3k-
Trade debts44€29k€6k▼
Suppliers440/4€29k€6k▼
Taxes, remuneration and social security45€3k-
Taxes450/3€1k-
Remuneration and social security454/9€2k-
Other amounts payable47/48€7k€4k▼
Accrued charges and deferred income492/3€2k-
Income statement
Code20232024
Non-recurring operating income76A€750€808▲
Remuneration, social security and pensions62-€-183
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€7k▼
Other operating charges640/8-€1k
Gross operating margin9900€62k€-70k▼
Operating profit (loss)9901€50k€-78k▼
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€6k€677▼
Recurring financial charges65€6k€677▼
Profit (loss) for the period before taxes9903€47k€-77k▼
Income taxes67/77€10k-
Profit (loss) for the period9904€37k€-77k▼
Profit (loss) for the period to be appropriated9905€37k€-77k▼
Appropriation of the result
Profit (loss) to be appropriated9906€39k€-37k▼
Profit (loss) brought forward from the previous period14P€2k€39k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €57 | - | €750 | €808 | ▲ 7.7% |
| Remuneration, social security and pensions62 | - | €1k | €4k | - | €-183 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €11k | €12k | €7k | ▼ 44.2% |
| Other operating charges640/8 | - | €431 | €420 | - | €1k | - |
| Gross operating margin9900 | €67k | €71k | €57k | €62k | €-70k | ▼ 215% |
| Operating profit (loss)9901 | €60k | €62k | €42k | €50k | €-78k | ▼ 257% |
| Financial income75/76B | - | €2k | €2k | €3k | €2k | ▼ 31.0% |
| Recurring financial income75 | €2k | €2k | €2k | €3k | €2k | ▼ 31.0% |
| Financial charges65/66B | - | €6k | €2k | €6k | €677 | ▼ 87.9% |
| Recurring financial charges65 | €3k | €4k | €2k | €6k | €677 | ▼ 87.9% |
| Non-recurring financial charges66B | - | €2k | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €59k | €59k | €42k | €47k | €-77k | ▼ 262% |
| Income taxes67/77 | €15k | €17k | €11k | €10k | - | - |
| Profit (loss) for the period9904 | €44k | €42k | €31k | €37k | €-77k | ▼ 306% |
| Profit (loss) for the period to be appropriated9905 | €44k | €42k | €31k | €37k | €-77k | ▼ 306% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €297k | €217k | €249k | €187k | €77k | ▼ 58.6% |
| Fixed assets21/28 | €8k | €26k | €27k | €18k | €8k | ▼ 53.7% |
| Tangible fixed assets22/27 | €7k | €25k | €21k | €13k | €4k | ▼ 69.3% |
| Plant, machinery and equipment23 | - | €6k | €5k | €6k | €3k | ▼ 45.6% |
| Furniture and vehicles24 | - | €19k | €16k | €7k | €807 | ▼ 88.8% |
| Financial fixed assets28 | €1k | €2k | €5k | €5k | €4k | ▼ 13.4% |
| Current assets29/58 | €289k | €191k | €223k | €169k | €69k | ▼ 59.1% |
| Amounts receivable after more than one year29 | - | €45k | €65k | €68k | €30k | ▼ 56.8% |
| Other amounts receivable291 | - | €45k | €65k | €68k | €30k | ▼ 56.8% |
| Amounts receivable within one year40/41 | €254k | €111k | €140k | €57k | €12k | ▼ 78.4% |
| Trade receivables40 | - | €87k | €138k | €42k | €12k | ▼ 71.2% |
| Other amounts receivable41 | - | €23k | €3k | €14k | - | - |
| Cash at bank and in hand54/58 | €25k | €21k | €7k | €37k | €27k | ▼ 26.6% |
| Deferred charges and accrued income490/1 | - | €14k | €11k | €7k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €297k | €217k | €249k | €187k | €77k | ▼ 58.6% |
| Equity10/15 | €46k | €88k | €106k | €144k | €67k | ▼ 53.4% |
| Contributions10/11 | - | €18k | €18k | €18k | €18k | = |
| Reserves13 | €22k | €62k | €87k | €87k | €87k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €60k | €85k | €85k | €85k | = |
| Profit (loss) carried forward14 | €7k | €9k | €2k | €39k | €-37k | ▼ 196% |
| Amounts payable17/49 | €251k | €129k | €143k | €43k | €11k | ▼ 75.8% |
| Amounts payable after more than one year17 | €3k | €7k | €3k | - | - | - |
| Financial debts170/4 | - | €7k | €3k | - | - | - |
| Amounts payable within one year42/48 | €248k | €121k | €135k | €42k | €11k | ▼ 74.8% |
| Current portion of amounts payable after more than one year42 | - | €7k | €5k | €3k | - | - |
| Financial debts43 | - | €6k | €842 | - | - | - |
| Credit institutions430/8 | - | €6k | €842 | - | - | - |
| Trade debts44 | €228k | €86k | €107k | €29k | €6k | ▼ 79.0% |
| Suppliers440/4 | - | €86k | €107k | €29k | €6k | ▼ 79.0% |
| Taxes, remuneration and social security45 | - | €22k | €9k | €3k | - | - |
| Taxes450/3 | - | €22k | €8k | €1k | - | - |
| Remuneration and social security454/9 | - | €25 | €627 | €2k | - | - |
| Other amounts payable47/48 | - | €750 | €13k | €7k | €4k | ▼ 32.9% |
| Accrued charges and deferred income492/3 | - | - | €6k | €2k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44k | €42k | €31k | €37k | €-77k | ▼ 306% |
| + Depreciation and write-downs630 | €6k | €6k | €11k | €12k | €7k | ▼ 44.2% |
| Operating cash flow (approximation) | €49k | €48k | €42k | €49k | €-70k | ▼ 243% |
| Investment in fixed assets (approximation) | - | €-25k | €-11k | €-3k | €3k | ▲ 196% |
| Change in cash | - | €-4k | €-15k | €31k | €-10k | ▼ 132% |
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
25-08
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 14-08-2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-77k
Net result drops to €-77k, the lowest in the series.
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 67 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 4.05
Current ratio from 1.65 to 4.05; short-term debt falls from €135k to €42k.
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 89 days late
2022
31-12
Financial
Equity above €100kEq €106k ▲20.6%
3 profitable years in a row build equity to €106k.
18-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 79 days late
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €44k
Net result €44k after one loss-making year.
17-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 139 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
25-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 25 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Herstal · 1 establishment unit since 2016
Ground area
647 m²
Building footprint
59 m²
Volume, LiDAR
206 m³
Parcel 62051D1833/00D007, Wallonia · tallest building 7.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
M & D GYPSE
since 20162.252.972.874
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62051D1833/00D007indicative | Wallonia | 647 m² | 1 · 59 m² | 7.3 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel 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 | ROLAND PROPS PALCE SAINT-LAMBERT 70/B01,
4000 LIEGE 1 |
14-08-2025 → present |
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 13,220 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded18-04-2016
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.