MIGRE

Open bankruptcy

Private limited companyfounded 2002Broekstraat 13, 1840 Londerzeel, BelgiumKBO/BCE: BE 0478.965.016

A bankruptcy procedure is open for MIGRE according to publications in the Belgian State Gazette; curator: ANOUK DE VLEESHOUWER. The 2023 annual accounts show equity of €306k and a net result of €-152k.

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Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

Latest accounts filed on time

The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 13-03-2024, 48 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not filed

2024

not filed

2023

48 d early

2022

45 d early

2021

57 d early

2020

45 d early

2019

41 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2023, abbreviated schema

Equity

€306k▼ 33.2%

2022 · €458k

2018: €746k 2019: €676k 2020: €438k 2021: €448k 2022: €458k

2018 → 2023

Total assets

€580k▼ 12.9%

2022 · €665k

2018: €1.13M 2019: €1.03M 2020: €748k 2021: €714k 2022: €665k

2018 → 2023

Net result

€-152k

2022 · €9k

2018: €-25k 2019: €-70k 2020: €-238k 2021: €10k 2022: €9k

2018 → 2023

Working capital

€274k▼ 31.3%

2022 · €398k

2018: €470k 2019: €452k 2020: €277k 2021: €336k 2022: €398k

2018 → 2023

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20192020202120222023Trend

Equity€676k-€438k▼ 35.2%€448k▲ 2.4%€458k▲ 2.1%€306k▼ 33.2%

Operating result€-93k-€-277k▼ 199%€-4k▲ 98.6%€-17k▼ 346%€-171k▼ 920%

Net result€-70k-€-238k▼ 239%€10k€9k▼ 9.2%€-152k

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €171k in 2023 against €17k in 2022; the loss grows.

Balance-sheet composition

2023 in colour, 2022 as the grey bar beneath

Assets €580k

11%

89.0%

Fixed assets €64k▼ 19.7%

Current assets €516k▼ 11.9%

Equity and liabilities €580k

52.7%

47.3%

Equity €306k▼ 33.2%

Debt €274k▲ 32.0%

The debt ratio rises from 31.2% to 47.3%. Equity is lower and debt is higher.

Key figures and ratios

2023 value · change against 2022

EBITDA

€-126k▼

2022 · €49k

Cash flow

€-108k▼

2022 · €75k

Solvency

52.7%▼

2022 · 68.8%

Current ratio

2.13▼

2022 · 3.12

Quick ratio

0.82▼

2022 · 1.45

Debt / equity

0.90▲

2022 · 0.45

ROE

-49.7%▼

2022 · 2.1%

ROA

-26.2%▼

2022 · 1.4%

Interest coverage

-17.01▼

2022 · 5.53

Debt

€274k▲

2022 · €208k

Debt ≤ 1 year

€243k▲

2022 · €188k

Debt > 1 year

€31k▲

2022 · €20k

Income taxes

€174▼

2022 · €1k

Staff costs

€301k▼

2022 · €305k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2023 against 2022

Balance sheet Code20222023

Assets

Total assets20/58€665k€580k▼

Fixed assets21/28€79k€64k▼

Tangible fixed assets22/27€79k€64k▼

Land and buildings22€21k€2k▼

Plant, machinery and equipment23€1k€0▼

Furniture and vehicles24€12k€15k▲

Leasing and similar rights25€35k€45k▲

Other tangible fixed assets26€10k€1k▼

Current assets29/58€586k€516k▼

Stocks and contracts in progress3€314k€316k▲

Stocks30/36€314k€316k▲

Amounts receivable within one year40/41€143k€124k▼

Trade receivables40€88k€28k▼

Other amounts receivable41€55k€96k▲

Cash at bank and in hand54/58€94k€35k▼

Deferred charges and accrued income490/1€34k€40k▲

Equity and liabilities

Total equity and liabilities10/49€665k€580k▼

Equity10/15€458k€306k▼

Contributions10/11€60k€60k=

Reserves13€398k€398k=

Non-distributable reserves130/1€6k€6k=

Reserves not available under the articles1311€6k€6k=

Tax-exempt reserves132€57k€57k=

Distributable reserves133€334k€334k=

Profit (loss) carried forward14€-39€-152k▼

Amounts payable17/49€208k€274k▲

Amounts payable after more than one year17€20k€31k▲

Financial debts170/4€20k€31k▲

Amounts payable within one year42/48€188k€243k▲

Current portion of amounts payable after more than one year42€6k€9k▲

Financial debts43€44€159▲

Credit institutions430/8€44€159▲

Trade debts44€144k€172k▲

Suppliers440/4€144k€172k▲

Taxes, remuneration and social security45€38k€59k▲

Taxes450/3€2k€2k▼

Remuneration and social security454/9€36k€58k▲

Other amounts payable47/48-€2k

Income statement Code20222023

Remuneration, social security and pensions62€305k€301k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€65k€44k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€12k€0▼

Other operating charges640/8€2k€7k▲

Gross operating margin9900€368k€181k▼

Operating profit (loss)9901€-17k€-171k▼

Financial income75/76B€36k€26k▼

Recurring financial income75€36k€26k▼

Financial charges65/66B€9k€7k▼

Recurring financial charges65€9k€7k▼

Non-recurring financial charges66B€70-

Profit (loss) for the period before taxes9903€10k€-152k▼

Income taxes67/77€1k€174▼

Profit (loss) for the period9904€9k€-152k▼

Profit (loss) for the period to be appropriated9905€9k€-152k▼

Appropriation of the result

Profit (loss) to be appropriated9906€9k€-152k▼

Profit (loss) brought forward from the previous period14P-€-39

Transfer to equity691/2€10k€0▼

To other reserves6921€10k€0▼

Social balance

Average headcount (FTE)9087-0.0

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Signals 1Financial 2Filings 10

2024

24-06

Bankruptcy Opening

Ondernemingsrechtbank Brussel · MIGRE BV BROEKSTRAAT 13, 1840 LONDERZEEL · event 18-06-2024

13-03

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

16-03

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

04-03

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

30-09

Financial Back to profitnet €10k

Net result €10k after 3 loss-making years.

16-03

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

30-09

Financial Weakest financial yearnet €-238k

Net result drops to €-238k, the lowest in the series.

20-03

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

29-03

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

24-04

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

30-03

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

26-02

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

2015

27-03

NBB filing Annual accounts filed

fiscal year 2014 · abbreviated schema

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

Registered office, Londerzeel · 2 establishment units since 2003

establishment approximate All 2 establishment units on the map

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.

Broekstraat 131840 Londerzeel

Ground area

767 m²

Building footprint

608 m²

Volume, LiDAR

3,771 m³

2 parcels, Flanders · tallest building 22.9 m, ±2 floors. Linked by address, not a title deed.

2 establishment units

Migre BVBA

Broekstraat 13, 1840 LonderzeelNACE 18221

since 20032.114.774.796

winkel Esprit

Wapenplein 18, 8400 OostendeNACE 18221

since 20072.215.381.614

2 parcels

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23048B0163/00V000	Flanders	651 m²	1 · 494 m²	22.9 m · 2 fl.
35013A0847/02_000indicative ProtectedMonumentMuziekkioskSource ↗	Flanders	116 m²	1 · 115 m²	10.2 m · 2 fl.