MAGRAF
InactiveMAGRAF was declared bankrupt on 04-10-2021 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed by liquidation by judgment of 03-10-2023, published in the Belgian State Gazette on 11-10-2023.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
○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 · 10 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 30-08-2021, 30 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
not filed
2021
not filed
2020
30 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 61 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
-€102,521
2019 · €36,426
Working capital
-€210,469▼ 34.2%
2019 · -€156,859
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-€42,163--€292▲ 99.3%-€113,180▼ 38,618%
Net result€34,008-€36,426▲ 7.1%-€102,521
Equity€329,589-€344,593▲ 4.6%€220,650▼ 36.0%
Total assets€1.1m-€1.0m▼ 8.8%€709,983▼ 32.2%
Debt€819,365-€702,812▼ 14.2%€489,333▼ 30.4%
Working capital-€63,891--€156,859▼ 146%-€210,469▼ 34.2%
Staff (FTE)7.7-8▲ 3.9%6.1▼ 23.8%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €113,180 in 2020 against €292 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 €709,983
Fixed assets
€620,570 ▼ 14.8%
Current assets
€89,412 ▼ 72.0%
Equity and liabilities €709,983
Equity
€220,650 ▼ 36.0%
Debt
€489,333 ▼ 30.4%
Debt's share of the balance-sheet total rises from 67.1% to 68.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€8,991▼
2019 · €117,175
Cash flow
€1,668▼
2019 · €153,894
Current ratio
0.30▼
2019 · 0.67
Quick ratio
0.27▼
2019 · 0.65
Debt to equity
0.85▲
2019 · 0.65
ROE
-46.5%▼
2019 · 10.6%
ROA
-14.4%▼
2019 · 3.5%
Debt ≤ 1 year
€299,881▼
2019 · €475,849
Debt > 1 year
€186,846▼
2019 · €225,548
Income taxes
€803▲
2019 · €528
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 | €151,811 | €117,468 | €104,189 | ▼ 11.3% |
| Gross operating margin9900 | €391,038 | €423,023 | €87,048 | ▼ 79.4% |
| Operating profit (loss)9901 | -€42,163 | -€292 | -€113,180 | ▼ 38,618% |
| Recurring financial income75 | €89,608 | €46,805 | €21,423 | ▼ 54.2% |
| Recurring financial charges65 | €12,695 | €9,559 | €9,961 | ▲ 4.2% |
| Profit (loss) for the period before taxes9903 | €34,749 | €36,954 | -€101,718 | ▼ 375% |
| Income taxes67/77 | €742 | €528 | €803 | ▲ 52.2% |
| Profit (loss) for the period9904 | €34,008 | €36,426 | -€102,521 | ▼ 381% |
| Profit (loss) for the period to be appropriated9905 | €34,008 | €36,426 | -€102,521 | ▼ 381% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.1m | €1.0m | €709,983 | ▼ 32.2% |
| Fixed assets21/28 | €774,677 | €728,415 | €620,570 | ▼ 14.8% |
| Intangible fixed assets21 | - | €1,811 | €1,088 | ▼ 39.9% |
| Tangible fixed assets22/27 | €538,699 | €491,874 | €388,359 | ▼ 21.0% |
| Financial fixed assets28 | €235,979 | €234,730 | €231,123 | ▼ 1.5% |
| Current assets29/58 | €374,277 | €318,989 | €89,412 | ▼ 72.0% |
| Stocks and contracts in progress3 | €13,479 | €10,336 | €9,304 | ▼ 10.0% |
| Amounts receivable within one year40/41 | €324,167 | €273,536 | €57,148 | ▼ 79.1% |
| Cash at bank and in hand54/58 | €28,015 | €19,865 | €12,271 | ▼ 38.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €709,983 | ▼ 32.2% |
| Equity10/15 | €329,589 | €344,593 | €220,650 | ▼ 36.0% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €28,750 | €28,750 | €28,750 | = |
| Profit (loss) carried forward14 | €137,995 | €174,421 | €71,900 | ▼ 58.8% |
| Amounts payable17/49 | €819,365 | €702,812 | €489,333 | ▼ 30.4% |
| Amounts payable after more than one year17 | €353,538 | €225,548 | €186,846 | ▼ 17.2% |
| Amounts payable within one year42/48 | €438,169 | €475,849 | €299,881 | ▼ 37.0% |
| Trade debts44 | €84,842 | €153,612 | €48,024 | ▼ 68.7% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,008 | €36,426 | -€102,521 | ▼ 381% |
| + Depreciation and write-downs630 | €151,811 | €117,468 | €104,189 | ▼ 11.3% |
| Operating cash flow (approximation) | €185,819 | €153,894 | €1,668 | ▼ 98.9% |
| Investment in fixed assets (approximation) | - | -€71,206 | €3,656 | ▲ 105% |
| Change in cash | - | -€8,150 | -€7,594 | ▲ 6.8% |
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
2023
11-10
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise francophone de Bruxelles · event 03-10-2023
2021
11-10
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 04-10-2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet -€102,521
Net result drops to -€102,521, the lowest in the series.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
31-12
Financial
Highest result since 2018net €36,426 ▲7.1%
Operating result -€292, net result €36,426, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
18-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 49 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 57 days late
2016
22-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 22 days late
2015
29-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 60 days late
2014
11-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
2013
13-09
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 44 days late
2012
26-06
NBB filing
Annual accounts filed
fiscal year 2011 · full schema
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LUC AUSTRAET AVENUE COMMANDANT
LOTHAIRE 14, 1040 BRUXELLES 4 |
04-10-2021 → 03-10-2023 |