MARKING SOLUTIONS
BankruptcyAre you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Ghent
- Opened
- 26 June 2025
- Track
- Reorganisation by collective agreement
- Docket number
- 20250004
- Moratorium until
- 23 October 2025 (passed; an extension would be in a later judgment)
- Creditors' vote
- 9 October 2025
- Delegated judge
- Edwin Meysmans
- Official Gazette
- 03-07-2025 (pdf) ↗search the document for 2025/128619
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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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 30-06-2024 was due by 31-01-2025 and was filed on 31-01-2025, 0 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2024
on the day
2023
58 d late
2022
on the day
2021
186 d late
2020
550 d late
2019
1 d early
2018
8 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 114 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Are there other customers at risk in your own list?Process a list How is the Manufacture of other non-metallic mineral products sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€75,224▲ 148%
2023 · €30,297
Total assets
€270,629▼ 44.7%
2023 · €489,085
Net result
€44,926▲ 7,026%
2023 · €630
Working capital
€62,584▲ 225%
2023 · €19,270
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€37,253-€42,341▼ 13.7%€114,054€6,225▼ 94.5%€69,319▲ 1,014%
Net result-€54,549below the sector's middle half-€52,803below the sector's middle half▲ 3.2%€129,340above the sector's middle half€630within the sector's middle half▼ 99.5%€44,926above the sector's middle half▲ 7,026%
Equity-€31,870below the sector's middle half-€84,673below the sector's middle half▼ 166%€29,667below the sector's middle half€30,297within the sector's middle half▲ 2.1%€75,224within the sector's middle half▲ 148%
Total assets€344,616within the sector's middle half▲ 10.1%€175,296within the sector's middle half▼ 49.1%€262,683within the sector's middle half▲ 49.9%€489,085above the sector's middle half▲ 86.2%€270,629within the sector's middle half▼ 44.7%
Debt€376,486▲ 29.7%€259,969▼ 30.9%€233,016▼ 10.4%€458,788▲ 96.9%€195,406▼ 57.4%
Working capital-€33,744below the sector's middle half-€82,019below the sector's middle half▼ 143%€22,764within the sector's middle half€19,270within the sector's middle half▼ 15.3%€62,584within the sector's middle half▲ 225%
Solvency-9.2%below the sector's middle half▼ 16.5pp-48.3%below the sector's middle half▼ 39.1pp11.3%below the sector's middle half▲ 59.6pp6.2%below the sector's middle half▼ 5.1pp27.8%within the sector's middle half▲ 21.6pp
Current ratio0.89below the sector's middle half▼ 0.160.64below the sector's middle half▼ 0.251.10within the sector's middle half▲ 0.461.04within the sector's middle half▼ 0.061.32within the sector's middle half▲ 0.28
Return on assets (ROA)-15.8%below the sector's middle half▼ 16.5pp-30.1%below the sector's middle half▼ 14.3pp49.2%above the sector's middle half▲ 79.4pp0.1%within the sector's middle half▼ 49.1pp16.6%above the sector's middle half▲ 16.5pp
Staff (FTE)2.3within the sector's middle half=1.91.1▼ 42.1%
above
within
below
the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 1,014% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €270,629
Fixed assets
€12,640 ▲ 6.3%
Current assets
€257,989 ▼ 45.9%
Equity and liabilities €270,629
Equity
€75,224 ▲ 148%
Debt
€195,406 ▼ 57.4%
Debt's share of the balance-sheet total falls from 93.8% to 72.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€72,720▲
2023 · €15,444
Cash flow
€48,328▲
2023 · €9,850
Quick ratio
1.30▲
2023 · 1.03
Debt to equity
2.60▼
2023 · 15.14
ROE
59.7%▲
2023 · 2.1%
Interest coverage
8.16▲
2023 · 3.02
Debt ≤ 1 year
€195,406▼
2023 · €457,928
Income taxes
€15,485▲
2023 · €581
Staff costs
€31,585▼
2023 · €49,561
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €13,022 | - | - |
| Remuneration, social security and pensions62 | €74,531 | - | - | €49,561 | €31,585 | ▼ 36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,041 | €27,480 | €11,465 | €9,219 | €3,402 | ▼ 63.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,197 | -€333 | - | - | - | - |
| Other operating charges640/8 | €5,903 | €2,289 | €755 | €10,175 | €11,701 | ▲ 15.0% |
| Non-recurring operating charges66A | €5,193 | €10,138 | - | - | €36,886 | - |
| Gross operating margin9900 | €86,612 | -€2,767 | €126,274 | €75,180 | €152,892 | ▲ 103% |
| Operating profit (loss)9901 | -€37,253 | -€42,341 | €114,054 | €6,225 | €69,319 | ▲ 1,014% |
| Financial income75/76B | €4,337 | €1,955 | €16,918 | €101 | - | - |
| Recurring financial income75 | €1,684 | €3 | €16,918 | €101 | - | - |
| Non-recurring financial income76B | €2,653 | €1,952 | €16,918 | - | - | - |
| Financial charges65/66B | €21,237 | €12,025 | €1,632 | €5,115 | €8,908 | ▲ 74.2% |
| Recurring financial charges65 | €17,917 | €10,318 | €1,632 | €5,115 | €8,908 | ▲ 74.2% |
| Non-recurring financial charges66B | €3,320 | €1,707 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€54,153 | -€52,411 | €129,340 | €1,211 | €60,411 | ▲ 4,888% |
| Income taxes67/77 | €396 | €392 | - | €581 | €15,485 | ▲ 2,567% |
| Profit (loss) for the period9904 | -€54,549 | -€52,803 | €129,340 | €630 | €44,926 | ▲ 7,026% |
| Profit (loss) for the period to be appropriated9905 | -€54,549 | -€52,803 | €129,340 | €630 | €44,926 | ▲ 7,026% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €344,616 | €175,296 | €262,683 | €489,085 | €270,629 | ▼ 44.7% |
| Fixed assets21/28 | €69,326 | €26,774 | €15,309 | €11,887 | €12,640 | ▲ 6.3% |
| Tangible fixed assets22/27 | €62,278 | €22,750 | €11,285 | €7,863 | €8,617 | ▲ 9.6% |
| Plant, machinery and equipment23 | €31,093 | €16,354 | €9,285 | €7,863 | €5,470 | ▼ 30.4% |
| Furniture and vehicles24 | €13,995 | €4,309 | €2,000 | - | €3,147 | - |
| Leasing and similar rights25 | €17,190 | €2,087 | €0 | - | - | - |
| Financial fixed assets28 | €7,048 | €4,024 | €4,024 | €4,024 | €4,024 | = |
| Current assets29/58 | €275,290 | €148,522 | €247,374 | €477,199 | €257,989 | ▼ 45.9% |
| Stocks and contracts in progress3 | €99,421 | €32,625 | €32,625 | €7,625 | €4,625 | ▼ 39.3% |
| Stocks30/36 | €99,421 | €32,625 | €32,625 | €7,625 | €4,625 | ▼ 39.3% |
| Amounts receivable within one year40/41 | €170,979 | €115,403 | €209,107 | €465,679 | €209,168 | ▼ 55.1% |
| Trade receivables40 | €155,363 | €112,291 | €209,107 | €456,579 | €173,975 | ▼ 61.9% |
| Other amounts receivable41 | €15,616 | €3,112 | - | €9,100 | €35,193 | ▲ 287% |
| Cash at bank and in hand54/58 | €1,172 | - | €5,148 | €3,894 | €44,196 | ▲ 1,035% |
| Deferred charges and accrued income490/1 | €3,718 | €494 | €494 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €344,616 | €175,296 | €262,683 | €489,085 | €270,629 | ▼ 44.7% |
| Equity10/15 | -€31,870 | -€84,673 | €29,667 | €30,297 | €75,224 | ▲ 148% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €4,079 | €4,079 | €11,067 | €11,067 | €11,067 | = |
| Non-distributable reserves130/1 | €213 | €213 | €213 | €213 | €213 | = |
| Reserves not available under the articles1311 | €213 | €213 | €213 | €213 | €213 | = |
| Distributable reserves133 | €3,866 | €3,866 | €10,854 | €10,854 | €10,854 | = |
| Profit (loss) carried forward14 | -€54,549 | -€107,352 | - | €630 | €45,557 | ▲ 7,126% |
| Amounts payable17/49 | €376,486 | €259,969 | €233,016 | €458,788 | €195,406 | ▼ 57.4% |
| Amounts payable after more than one year17 | €65,176 | €28,568 | €7,547 | - | - | - |
| Financial debts170/4 | €65,176 | €28,568 | €7,547 | - | - | - |
| Amounts payable within one year42/48 | €309,034 | €230,541 | €224,610 | €457,928 | €195,406 | ▼ 57.3% |
| Current portion of amounts payable after more than one year42 | €27,560 | €40,874 | €13,549 | €7,958 | - | - |
| Financial debts43 | €54,944 | €354 | €354 | €354 | - | - |
| Credit institutions430/8 | €1,010 | €354 | €354 | €354 | - | - |
| Other loans439 | €53,934 | - | - | - | - | - |
| Trade debts44 | €188,403 | €163,319 | €161,623 | €302,706 | €160,555 | ▼ 47.0% |
| Suppliers440/4 | €188,403 | €163,319 | €161,623 | €302,706 | €160,555 | ▼ 47.0% |
| Advances received on contracts in progress46 | - | - | - | €113,254 | - | - |
| Taxes, remuneration and social security45 | €18,251 | €3,860 | €7,549 | €9,527 | €19,621 | ▲ 106% |
| Taxes450/3 | €7,672 | €3,860 | €7,549 | €1,050 | €15,281 | ▲ 1,355% |
| Remuneration and social security454/9 | €10,579 | - | - | €8,476 | €4,340 | ▼ 48.8% |
| Other amounts payable47/48 | €19,876 | €22,134 | €41,535 | €24,130 | €15,230 | ▼ 36.9% |
| Accrued charges and deferred income492/3 | €2,276 | €860 | €859 | €859 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€54,549 | -€52,803 | €129,340 | €630 | €44,926 | ▲ 7,026% |
| + Depreciation and write-downs630 | €37,041 | €27,480 | €11,465 | €9,219 | €3,402 | ▼ 63.1% |
| Operating cash flow (approximation) | -€17,508 | -€25,323 | €140,805 | €9,850 | €48,328 | ▲ 391% |
| Investment in fixed assets (approximation) | - | €15,072 | €0 | -€5,797 | -€4,155 | ▲ 28.3% |
| Change in cash | - | - | - | -€1,254 | €40,302 | ▲ 3,315% |
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
03-07
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement · event 26-06-2025
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 58 days late
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 186 days late
04-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 550 days late
30-06
Financial
Back to profitnet €129,340
Net result €129,340 after 2 loss-making years.
2020
30-06
Financial
Weakest financial yearnet -€54,549
Net result drops to -€54,549, the lowest in the series.
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
08-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2018
10-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro 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
No directors read yet: 0 of 5 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Wortegem-Petegem · 1 establishment unit since 2016
Ground area
197 m²
Building footprint
97 m²
Volume, LiDAR
342 m³
Parcel 45039C0009/00B000, Flanders · tallest building 5.8 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Marking Solutions
since 20162.256.824.863
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45039C0009/00B000 | Flanders | 196 m² | 1 · 97 m² | 5.8 m · 1 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.
Subsidies and aid
Flemish government
2024 · 1 entry · 1,500 EUR awarded · 1,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,500 EUR | 1,500 EUR |
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Of 62 companies in this sector we hold annual accounts for 51. 18 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded19-08-2016
Fiscal year end30-06
Activities, NACEBEL 2025
23990Manufacture of other non-metallic mineral products
42110Construction of roads and motorways
46140Agents in the wholesale of industrial machinery, ships and aircraft
46839Wholesale trade
81100Combined facilities support activities
82990Other business support services
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.