M-SYSTEMS
Bankruptcy closedInactive since 14-08-2026; last annual accounts for financial year 2020.
Summary
M-SYSTEMS was declared bankrupt on 08-09-2022 (Ondernemingsrechtbank Antwerpen, afdeling Hasselt); the bankruptcy was closed by liquidation by judgment of 12-08-2026, published in the Belgian Official Gazette on 18-08-2026.
Financials · financial year 2020, micro format
2020 annual accounts filed late (61 days) Filed on 30 September 2021, deadline 31 July 2021 (7 months after the close on 31 December 2020, Companies Code art. 3:10). Source: NBB, 2021-70800533.
2018 to 2020, 3 financial years 2018 to 2020, 3 financial years
The operating result recovers in 2020; 2020 is 397% above 2019.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Use the arrow keys on the chart for the figures per year.
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Turnover70 | €0.3m | €0.2m | €1.2m | ▲ 435% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.002m | €0.002m | €0.004m | ▲ 85.5% |
| Gross operating margin9900 | €0.08m | €0.05m | €0.3m | ▲ 472% |
| Operating profit (loss)9901 | €0.03m | €0.005m | €0.02m | ▲ 397% |
| Recurring financial income75 | €0.003m | €0.005m | €0.008m | ▲ 74.9% |
| Recurring financial charges65 | €0.009m | €0.005m | €0.01m | ▲ 160% |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.005m | €0.02m | ▲ 314% |
| Income taxes67/77 | €0.007m | €0.002m | €0.006m | ▲ 291% |
| Profit (loss) for the period9904 | €0.02m | €0.003m | €0.01m | ▲ 326% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.003m | €0.01m | ▲ 326% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €187,172 | €146,207 | €506,587 | ▲ 246% |
| Fixed assets21/28 | €4,745 | €2,325 | €30,017 | ▲ 1,191% |
| Tangible fixed assets22/27 | €4,420 | €2,000 | €15,892 | ▲ 695% |
| Financial fixed assets28 | €325 | €325 | €14,125 | ▲ 4,246% |
| Current assets29/58 | €182,427 | €143,882 | €476,570 | ▲ 231% |
| Amounts receivable within one year40/41 | €111,665 | €139,728 | €467,657 | ▲ 235% |
| Cash at bank and in hand54/58 | €66,802 | €152 | €853 | ▲ 462% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €187,172 | €146,207 | €506,587 | ▲ 246% |
| Equity10/15 | €53,356 | €56,350 | €69,104 | ▲ 22.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €34,756 | €37,750 | €50,504 | ▲ 33.8% |
| Amounts payable17/49 | €133,816 | €89,856 | €437,484 | ▲ 387% |
| Amounts payable after more than one year17 | €30,338 | €17,941 | €15,785 | ▼ 12.0% |
| Amounts payable within one year42/48 | €103,478 | €71,915 | €421,698 | ▲ 486% |
| Trade debts44 | €20,680 | €5,969 | €169,602 | ▲ 2,741% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,054 | €2,994 | €12,753 | ▲ 326% |
| + Depreciation and write-downs630 | €2,420 | €2,420 | €4,488 | ▲ 85.5% |
| Operating cash flow (approximation) | €19,474 | €5,414 | €17,242 | ▲ 218% |
| Investment in fixed assets (approximation) | - | €0 | -€32,181 | - |
| Change in cash | - | -€66,650 | €701 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2020 | micro format | 30-09-2021 | 2021-70800533 |
| 31-12-2019 | micro format | 30-06-2020 | 2020-23900579 |
| 31-12-2018 | micro format | 30-09-2019 | 2019-67700422 |
| 31-12-2017 | micro format | 31-07-2018 | 2018-43200136 |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-26400211 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.