MandiCO
Open bankruptcyA bankruptcy procedure is open for MandiCO according to publications in the Belgian State Gazette; curator: PATRICK SCHRUERS.
Summary
The 2023 annual accounts show equity of €9k and a net result of €-38k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 07-10-2024, 68 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
68 d late
2022
30 d late
2021
59 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€9k▼ 80.8%
2022 · €47k
2021: €24k
2022: €47k▲ +93.2% vs 2021highest in 3 years
2023: €9k▼ -80.8% vs 2022lowest in 3 years
2021 → 2023
Total assets
€35k▼ 76.2%
2022 · €147k
2021: €80k
2022: €147k▲ +82.5% vs 2021highest in 3 years
2023: €35k▼ -76.2% vs 2022lowest in 3 years
2021 → 2023
Net result
€-38k
2022 · €23k
2021: €22k
2022: €23k▲ +1.6% vs 2021highest in 3 years
2023: €-38k▼ -267% vs 2022lowest in 3 years
2021 → 2023
Working capital
€5k▲ 10.5%
2022 · €4k
2021: €-7klowest in 3 years
2022: €4k▲ +163% vs 2021
2023: €5k▲ +10.5% vs 2022highest in 3 years
2021 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222023Trend
Equity€24k-€47k▲ 93.2%€9k▼ 80.8%
2021: €24k
2022: €47k▲ +93.2% vs 2021highest in 3 years
2023: €9k▼ -80.8% vs 2022lowest in 3 years
Operating result€32k-€35k▲ 6.8%€-35k
2021: €32k
2022: €35k▲ +6.8% vs 2021highest in 3 years
2023: €-35k▼ -201% vs 2022lowest in 3 years
Net result€22k-€23k▲ 1.6%€-38k
2021: €22k
2022: €23k▲ +1.6% vs 2021highest in 3 years
2023: €-38k▼ -267% vs 2022lowest in 3 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 2023: a loss of €35k after €35k in 2022, the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €35k
Fixed assets
€4k ▼ 91.5%
Current assets
€31k ▼ 68.2%
Equity and liabilities €35k
Equity
€9k ▼ 80.8%
Debt
€26k ▼ 74.0%
Debt's share of the balance-sheet total rises from 68.0% to 74.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-27k▼
2022 · €61k
Cash flow
€-30k▼
2022 · €49k
Current ratio
1.18▲
2022 · 1.05
Debt to equity
2.88▲
2022 · 2.13
ROE
-421.0%▼
2022 · 48.2%
ROA
-108.5%▼
2022 · 15.4%
Interest coverage
-8.68▼
2022 · 45.46
Debt ≤ 1 year
€26k▼
2022 · €92k
Staff costs
€2k▲
2022 · €1k
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 · 2023 against 2022 · 50 lines
Balance sheet
Code20222023
Assets
Total assets20/58€147k€35k▼
Fixed assets21/28€50k€4k▼
Tangible fixed assets22/27€48k€4k▼
Furniture and vehicles24€45k€2k▼
Other tangible fixed assets26€3k€2k▼
Financial fixed assets28€3k-
Current assets29/58€96k€31k▼
Amounts receivable within one year40/41€42k€28k▼
Trade receivables40€15k€14k▼
Other amounts receivable41€27k€14k▼
Cash at bank and in hand54/58€54k-
Deferred charges and accrued income490/1€408€3k▲
Equity and liabilities
Total equity and liabilities10/49€147k€35k▼
Equity10/15€47k€9k▼
Contributions10/11€2k€2k=
Reserves13€22k€22k=
Distributable reserves133€22k€22k=
Profit (loss) carried forward14€23k€-15k▼
Amounts payable17/49€100k€26k▼
Amounts payable after more than one year17€8k-
Financial debts170/4€8k-
Amounts payable within one year42/48€92k€26k▼
Current portion of amounts payable after more than one year42€26k€6k▼
Financial debts43-€2k
Credit institutions430/8-€2k
Trade debts44€1k€6k▲
Suppliers440/4€1k€6k▲
Advances received on contracts in progress46€35k-
Taxes, remuneration and social security45€29k€12k▼
Taxes450/3€29k€12k▼
Accrued charges and deferred income492/3€16-
Income statement
Code20222023
Non-recurring operating income76A-€17k
Remuneration, social security and pensions62€1k€2k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€8k▼
Other operating charges640/8€2k€830▼
Non-recurring operating charges66A-€11k
Gross operating margin9900€64k€-13k▼
Operating profit (loss)9901€35k€-35k▼
Financial income75/76B€2k€242▼
Recurring financial income75€2k€242▼
Financial charges65/66B€1k€3k▲
Recurring financial charges65€1k€3k▲
Profit (loss) for the period before taxes9903€35k€-38k▼
Income taxes67/77€12k-
Profit (loss) for the period9904€23k€-38k▼
Profit (loss) for the period to be appropriated9905€23k€-38k▼
Appropriation of the result
Profit (loss) to be appropriated9906€45k€-15k▼
Profit (loss) brought forward from the previous period14P€22k€23k▲
Transfer to equity691/2€22k-
To other reserves6921€22k-
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €17k | - |
| Remuneration, social security and pensions62 | €1k | €1k | €2k | ▲ 50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20k | €26k | €8k | ▼ 69.7% |
| Other operating charges640/8 | €3k | €2k | €830 | ▼ 47.5% |
| Non-recurring operating charges66A | - | - | €11k | - |
| Gross operating margin9900 | €58k | €64k | €-13k | ▼ 120% |
| Operating profit (loss)9901 | €32k | €35k | €-35k | ▼ 201% |
| Financial income75/76B | €275 | €2k | €242 | ▼ 86.7% |
| Recurring financial income75 | €275 | €2k | €242 | ▼ 86.7% |
| Financial charges65/66B | €538 | €1k | €3k | ▲ 134% |
| Recurring financial charges65 | €538 | €1k | €3k | ▲ 134% |
| Profit (loss) for the period before taxes9903 | €32k | €35k | €-38k | ▼ 208% |
| Income taxes67/77 | €10k | €12k | - | - |
| Profit (loss) for the period9904 | €22k | €23k | €-38k | ▼ 267% |
| Profit (loss) for the period to be appropriated9905 | €22k | €23k | €-38k | ▼ 267% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €80k | €147k | €35k | ▼ 76.2% |
| Fixed assets21/28 | €51k | €50k | €4k | ▼ 91.5% |
| Tangible fixed assets22/27 | €48k | €48k | €4k | ▼ 91.0% |
| Furniture and vehicles24 | €47k | €45k | €2k | ▼ 94.6% |
| Other tangible fixed assets26 | €2k | €3k | €2k | ▼ 34.9% |
| Financial fixed assets28 | €3k | €3k | - | - |
| Current assets29/58 | €29k | €96k | €31k | ▼ 68.2% |
| Amounts receivable within one year40/41 | €23k | €42k | €28k | ▼ 34.1% |
| Trade receivables40 | €18k | €15k | €14k | ▼ 7.9% |
| Other amounts receivable41 | €5k | €27k | €14k | ▼ 48.6% |
| Cash at bank and in hand54/58 | €6k | €54k | - | - |
| Deferred charges and accrued income490/1 | €510 | €408 | €3k | ▲ 584% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €80k | €147k | €35k | ▼ 76.2% |
| Equity10/15 | €24k | €47k | €9k | ▼ 80.8% |
| Contributions10/11 | €2k | €2k | €2k | = |
| Reserves13 | - | €22k | €22k | = |
| Distributable reserves133 | - | €22k | €22k | = |
| Profit (loss) carried forward14 | €22k | €23k | €-15k | ▼ 165% |
| Amounts payable17/49 | €56k | €100k | €26k | ▼ 74.0% |
| Amounts payable after more than one year17 | €20k | €8k | - | - |
| Financial debts170/4 | €20k | €8k | - | - |
| Amounts payable within one year42/48 | €36k | €92k | €26k | ▼ 71.8% |
| Current portion of amounts payable after more than one year42 | €17k | €26k | €6k | ▼ 78.8% |
| Financial debts43 | - | - | €2k | - |
| Credit institutions430/8 | - | - | €2k | - |
| Trade debts44 | €3k | €1k | €6k | ▲ 371% |
| Suppliers440/4 | €3k | €1k | €6k | ▲ 371% |
| Advances received on contracts in progress46 | - | €35k | - | - |
| Taxes, remuneration and social security45 | €17k | €29k | €12k | ▼ 57.8% |
| Taxes450/3 | €17k | €29k | €12k | ▼ 57.8% |
| Accrued charges and deferred income492/3 | - | €16 | - | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €22k | €23k | €-38k | ▼ 267% |
| + Depreciation and write-downs630 | €20k | €26k | €8k | ▼ 69.7% |
| Operating cash flow (approximation) | €43k | €49k | €-30k | ▼ 162% |
| Investment in fixed assets (approximation) | - | €-26k | €38k | ▲ 250% |
| Change in cash | - | €48k | - | - |
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
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
12-06
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · event 06-06-2024
2023
31-12
Financial
Weakest financial yearnet €-38k
Net result drops to €-38k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Highest result since 2021net €23k ▲1.6%
Operating result €35k, net result €23k, both a record.
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
2 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, Heusden-Zolder · 1 establishment unit since 2021
Ground area
1.3 ha
Building footprint
1,512 m²
Volume, LiDAR
9,552 m³
Parcel 71502B0454/00Y000, Flanders · tallest building 13.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MandiCO
since 20212.311.016.387
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71502B0454/00Y000 | Flanders | 1.3 ha | 1 · 1,512 m² | 13.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 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 | PATRICK SCHRUERS KEMPISCHE KAAI 7 C/1.01,
3500 HASSELT |
06-06-2024 → present |
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Of 6,975 companies in sector 49320 we hold annual accounts for 2,714. 2,080 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
Founded21-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
49320Non-scheduled passenger transport by road
49310Scheduled passenger transport by road
Scores and ratios are computed by Checked and are not a credit decision.