MASTER DISTRIBUTION
Open bankruptcyA bankruptcy procedure is open for MASTER DISTRIBUTION according to publications in the Belgian State Gazette; curator: SOPHIE HUART.
Summary
Inactive; last annual accounts for fiscal year 2017.
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 31-12-2017. Since then, 8 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 5 filingsPosition against the passed deadline
31-12-2018 close31-07-2019 deadline24-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2017 was due by 31-07-2018 and was filed on 26-10-2018, 87 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2017, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-55k▲ 76.3%
2016 · €-231k
2013: €-65k
2014: €-36k
2015: €-116k
2016: €-231k
2013 → 2017
Working capital
€514k▼ 82.7%
2016 · €2.97M
2013: €541k
2014: €2.95M
2015: €2.78M
2016: €2.97M
2013 → 2017
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20132014201520162017Trend
Equity€-46k-€-83k▼ 78.0%€-198k▼ 140%€-430k▼ 117%€-485k▼ 12.7%
Operating result€-63k-€-35k▲ 44.3%€-113k▼ 221%€-226k▼ 100%€-51k▲ 77.7%
Net result€-65k-€-36k▲ 44.3%€-116k▼ 220%€-231k▼ 99.8%€-55k▲ 76.3%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €51k in 2017 against €226k in 2016; the loss shrinks.
Balance-sheet composition
2017 in colour, 2016 as the grey bar beneath
Assets €966k
Fixed assets
€43k ▼ 15.6%
Current assets
€923k ▼ 72.9%
Key figures and ratios
EBITDA
€-43k▲
2016 · €-218k
Cash flow
€-47k▲
2016 · €-223k
Solvency
-50.2%▼
2016 · -12.4%
Current ratio
2.26▼
2016 · 7.80
Quick ratio
2.18▼
2016 · 7.71
ROA
-5.7%▲
2016 · -6.7%
Debt
€1.45M▼
2016 · €3.88M
Debt ≤ 1 year
€409k▼
2016 · €436k
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 · 2017 against 2016 · 24 lines
Balance sheet
Code20162017
Assets
Total assets20/58€3.45M€966k▼
Fixed assets21/28€51k€43k▼
Intangible fixed assets21€32k€28k▼
Tangible fixed assets22/27€14k€11k▼
Financial fixed assets28€4k€4k=
Current assets29/58€3.40M€923k▼
Stocks and contracts in progress3€39k€31k▼
Amounts receivable within one year40/41€71k€16k▼
Cash at bank and in hand54/58€52k€25k▼
Equity and liabilities
Total equity and liabilities10/49€3.45M€966k▼
Equity10/15€-430k€-485k▼
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-448k€-503k▼
Amounts payable17/49€3.88M€1.45M▼
Amounts payable within one year42/48€436k€409k▼
Trade debts44€427k€401k▼
Income statement
Code20162017
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k▼
Gross operating margin9900€-143k€46k▲
Operating profit (loss)9901€-226k€-51k▲
Recurring financial income75-€90
Recurring financial charges65€5k€4k▼
Profit (loss) for the period before taxes9903€-231k€-55k▲
Profit (loss) for the period9904€-231k€-55k▲
Profit (loss) for the period to be appropriated9905€-231k€-55k▲
Timeline · acts, filings and financial milestones
2022
06-01
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · SPRL MASTER DISTRIBUTION AVENUE GEORGES BENOIDT 21, 1170 WATERMAEL-BOITSFORT · event 13-12-2021
2018
26-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 87 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 59 days late
2016
31-12
Financial
Weakest financial yearnet €-231k
Net result drops to €-231k, the lowest in the series.
13-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 74 days late
2015
12-10
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 73 days late
2014
30-09
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 61 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | SOPHIE HUART CHAUSSEE DE WATERLOO 880,
1000 BRUXELLES 1 |
13-12-2021 → present |