MAGNETRAP
InactiveMAGNETRAP was declared bankrupt on 14-02-2022 (Tribunal de l’entreprise du Hainaut, division Mons); the bankruptcy was closed by liquidation by judgment of 06-01-2025, published in the Belgian State Gazette on 10-01-2025.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 3 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline27-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 23-12-2021, 145 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
145 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 88 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 2020, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€674,284▼ 47.5%
2019 · -€457,208
Working capital
-€519,894▼ 283%
2019 · -€135,785
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
Line201820192020
Operating result-€423,492--€443,754▼ 4.8%-€597,598▼ 34.7%
Net result-€424,332--€457,208▼ 7.7%-€674,284▼ 47.5%
Equity€453,817-€858,623▲ 89.2%€1.5m▲ 69.0%
Total assets€1.1m-€1.7m▲ 50.8%€3.6m▲ 117%
Debt€646,841-€801,029▲ 23.8%€2.1m▲ 168%
Working capital-€93,985--€135,785▼ 44.5%-€519,894▼ 283%
Staff (FTE)1-1=3.4▲ 240%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €597,598 in 2020 against €443,754 in 2019; the loss grows and 2020 has the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €3.6m
Fixed assets
€2.8m ▲ 104%
Current assets
€835,720 ▲ 169%
Equity and liabilities €3.6m
Equity
€1.5m ▲ 69.0%
Debt
€2.1m ▲ 168%
Debt's share of the balance-sheet total rises from 48.3% to 59.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€589,121▼
2019 · -€441,817
Cash flow
-€665,807▼
2019 · -€455,271
Current ratio
0.62▼
2019 · 0.70
Debt to equity
0.52▲
2019 · 0.41
ROE
-46.5%▲
2019 · -53.2%
ROA
-18.7%▲
2019 · -27.5%
Debt ≤ 1 year
€1.4m▲
2019 · €447,002
Debt > 1 year
€750,000▲
2019 · €354,027
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €340 | €1,937 | €8,477 | ▲ 338% |
| Gross operating margin9900 | -€373,736 | -€392,101 | €206,983 | ▲ 153% |
| Operating profit (loss)9901 | -€423,492 | -€443,754 | -€597,598 | ▼ 34.7% |
| Recurring financial income75 | €5 | €3 | €42 | ▲ 1,288% |
| Recurring financial charges65 | €845 | €13,457 | €76,728 | ▲ 470% |
| Profit (loss) for the period before taxes9903 | -€424,332 | -€457,208 | -€674,284 | ▼ 47.5% |
| Profit (loss) for the period9904 | -€424,332 | -€457,208 | -€674,284 | ▼ 47.5% |
| Profit (loss) for the period to be appropriated9905 | -€424,332 | -€457,208 | -€674,284 | ▼ 47.5% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.1m | €1.7m | €3.6m | ▲ 117% |
| Formation expenses20 | - | - | €8,980 | - |
| Fixed assets21/28 | €555,563 | €1.3m | €2.8m | ▲ 104% |
| Intangible fixed assets21 | €550,455 | €1.3m | €2.7m | ▲ 100% |
| Tangible fixed assets22/27 | €1,311 | €6,993 | €67,805 | ▲ 870% |
| Financial fixed assets28 | €3,797 | €3,797 | €3,797 | = |
| Current assets29/58 | €545,095 | €311,217 | €835,720 | ▲ 169% |
| Amounts receivable within one year40/41 | €55,282 | €189,205 | €263,437 | ▲ 39.2% |
| Cash at bank and in hand54/58 | €488,235 | €121,661 | €570,970 | ▲ 369% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.1m | €1.7m | €3.6m | ▲ 117% |
| Equity10/15 | €453,817 | €858,623 | €1.5m | ▲ 69.0% |
| Contributions10/11 | €664,000 | €779,800 | €1.4m | ▲ 82.1% |
| Profit (loss) carried forward14 | -€424,332 | -€881,540 | -€1.6m | ▼ 76.5% |
| Amounts payable17/49 | €646,841 | €801,029 | €2.1m | ▲ 168% |
| Amounts payable after more than one year17 | - | €354,027 | €750,000 | ▲ 112% |
| Amounts payable within one year42/48 | €639,080 | €447,002 | €1.4m | ▲ 203% |
| Trade debts44 | €175,270 | €181,251 | €707,337 | ▲ 290% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€424,332 | -€457,208 | -€674,284 | ▼ 47.5% |
| + Depreciation and write-downs630 | €340 | €1,937 | €8,477 | ▲ 338% |
| Operating cash flow (approximation) | -€423,992 | -€455,271 | -€665,807 | ▼ 46.2% |
| Investment in fixed assets (approximation) | - | -€794,809 | -€1.4m | ▼ 77.7% |
| Change in cash | - | -€366,574 | €449,309 | ▲ 223% |
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
10-01
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise du Hainaut, division Mons · event 06-01-2025
2022
18-02
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Mons · event 14-02-2022
2021
23-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 145 days late
2020
31-12
Financial
Weakest financial yearnet -€674,284
Net result drops to -€674,284, the lowest in the series.
31-12
Financial
Equity above €1mEq €1.5m ▲69%
Equity rises from €858,623 to €1.5m.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Equity above €500,000Eq €858,623 ▲89.2%
Equity rises from €453,817 to €858,623.
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 70 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JOHN DEHAENE RUE NEUVE, 16, 7000 MONS-
.
Date provisoire de cessation de paiement : 14/02/2022 |
14-02-2022 → 06-01-2025 |