MINDZ

Bankruptcy closed Private limited companyfounded 2006Albert Van Cotthemstraat 171, 1600 Sint-Pieters-LeeuwKBO/BCE: BE 0885.305.142

MINDZ

Follow Report

Overview

Lifetime

15 annual accounts with figures on one time axis

Compare with

Gross marginpeak €376,727 (2019)

€241,535▼ 29.0%

Resultlowest -€81,462 (2021)

-€81,462▼ €78,178

Equitypeak €55,918 (2019)

-€28,828▼ €81,462

Debts

€727,164▲ 44.0%

Staffpeak 7 FTE (2019)

6 FTE▼ 10.4%

Board1 name since 2021

1 directorSEYNAEVE GREGORY

Documentsfilings and deeds

08-12-2022130 days late

2021financial year

Gross margin from €340,192 to €241,535Loss of €81,462Staff from 6.7 FTE to 6 FTEEquity from €52,635 to -€28,828Debts from €504,923 to €727,164

Key points

from the 2021 annual accounts, the last ones filed

Equity

-€28,828 from €55,918 in 2019

Equity fell below zero in 2021.

Debts

€727,164 104% of the balance sheet

Financial debts 4%Suppliers 54%Taxes and wages 37%Other 5%

Of this, €694,103 falls due within a year.

Filings

15 annual accounts since 2007

Ten of the last ten came late. The 2019 accounts came latest: 145 days after the end of the period.

No score

Board and ownership

SEYNAEVE GREGORY

Director

Board & ownership

Recent changes

12-01-2026

Bankruptcy closure (by liquidation) Enterprise Court of Brussels · judgment of 01-01-2026 · Bankruptcy

24-05-2023

Bankruptcy published Enterprise Court of Brussels · judgment of 16-05-2023 · Bankruptcy

17-01-2007

First establishment HOMELAB 202, Albert Van Cotthemstraat 171, Sint-Pieters-Leeuw

29-11-2006

Incorporation 9 publications in the Belgian Official Gazette, the last on 01-12-2020 · published on 07-12-2006 · Gazette deed

All 25 events

Official details

Source: KBO

Status: In bankruptcydeclared bankrupt on 16-05-2023
Activity: Manufacture of furnitureNACE 31002and 2 others
Joint committee: 124Construction · annual accounts 2021
Establishment unit: 2.158.653.2421600 Sint-Pieters-Leeuw, since 17-01-2007
Financial year end: 31 December
Peppol: Not found in the Peppol Directory

Company details

Annual accounts 2021

Gross margin: €241,535▼ 29.0%
Turnover: ≈ €610,000estimated
Loss: €81,462▲ 25×
Equity: -€28,828
Total assets: €698,336▲ 25.2%
Employeeson 31-12-2021: 6
Filing: Filed on 08-12-2022

Financials

Insights on MINDZ

Equity fell from €55,918 in 2019 to -€28,828 in 2021, while debts rose from €700,579 to €727,164.

On 16 May 2023 the court declared MINDZ bankrupt.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2021

full format, filed on 08-12-2022, 130 days late

Gross margin

€241,535

▼ 29.0%

Operating result

-€78,470

▼ €80,811

Loss

-€81,462

▼ €78,178

Working capital

-€14,382

▼ €76,200

Solvency

-4.1%

▼ 13.6 percentage points

Current ratio

0.98

▼ 0.15

The turnover shown is an estimate from the gross margin.

Turnover ≈ €610,000. Estimated: probably between €380,000 and €1.2m.

Balance sheet

balance sheet total €698,336 on 31-12-2021

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Position in the sector

Compare with sector

Solvency-4.1%

Higher than 9% of 117 companies in 2021.

Current ratio0.98

Higher than 25% of 116 companies in 2021.

Return on assets-11.7%

Higher than 9% of 117 companies in 2021.

MINDZ Middle half of the sector 80% of the sector Full accounts in furniture (NACE 31)

Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter · Staff: middle half

Staff

Staff cost per FTE€48,801

Staff costs divided by the average number of full-time equivalents.

Joined and left-1

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	698,336	557,558	756,498	403,284	294,600	166,332	171,426	65,035	92,722	73,173	60,334	1,468	1,615	4,954	22,015
Fixed assets`21/28`	18,615	33,889	56,351	34,151	48,499	45,153	2,574	4,187	8,268	6,999	9,550	-	-	1,928	4,241
Intangible fixed assets`21`	-	-	-	-	-	-	-	-	-	500	1,000	-	-	1,928	4,241
Tangible fixed assets`22/27`	18,615	33,889	56,351	34,151	48,499	45,153	2,574	4,187	8,268	6,499	8,550	-	-	-	-
Plant, machinery and equipment`23`	4,582	5,819	8,249	-	-	-	220	440	660	1,546	1,333	-	-	-	-
Furniture and vehicles`24`	14,033	28,070	48,102	34,151	48,499	45,153	2,354	3,747	7,608	4,953	7,217	-	-	-	-
Current assets`29/58`	679,721	523,669	700,147	369,133	246,101	121,179	168,852	60,848	84,454	66,174	50,784	1,468	1,615	3,026	17,774
Stocks and contracts in progress`3`	14,727	8,821	14,878	13,719	9,458	-	-	-	-	-	-	-	-	-	-
Stocks`30/36`	14,727	8,821	14,878	13,719	9,458	-	-	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	632,105	486,465	577,688	157,319	230,746	119,080	163,019	60,836	76,310	54,970	21,058	1,122	1,589	276	1,420
Trade receivables`40`	628,783	481,865	566,677	144,762	193,784	81,830	108,062	21,040	39,991	31,047	3,335	605	1,024	-	1,420
Other amounts receivable`41`	3,322	4,600	11,011	12,558	36,962	37,250	54,957	39,796	36,319	23,923	17,723	517	565	276	-
Cash at bank and in hand`54/58`	32,889	27,363	105,744	195,732	5,896	2,099	5,833	12	8,144	11,204	29,726	346	26	2,750	16,354
Deferred charges and accrued income`490/1`	-	1,020	1,837	2,362	-	-	-	-	-	-	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	698,336	557,558	756,498	403,284	294,600	166,332	171,426	65,035	92,722	73,173	60,334	1,468	1,615	4,954	22,015
Equity`10/15`	-28,828	52,635	55,918	50,761	45,921	39,726	30,109	14,600	12,612	25,242	9,307	-986	-564	2,580	1,459
Contributions`10/11`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Issued capital`100`	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Reserves`13`	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,051	952	952	155	-	-	-	-
Non-distributable reserves`130/1`	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	1,860	1,860	1,860	1,860	1,860	1,051	952	952	155	-	-	-	-
Reserves not available under the articles`1311`	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-36,888	44,575	47,858	42,701	37,861	31,666	22,049	7,349	5,460	18,090	2,952	-7,186	-6,764	-3,620	-4,741
Amounts payable`17/49`	727,164	504,923	700,579	352,523	248,679	126,606	141,317	50,435	80,110	47,931	51,027	2,454	2,179	2,374	20,556
Amounts payable after more than one year`17`	30,110	43,072	64,153	58,427	60,616	35,757	916	3,581	11,245	10,022	17,547	-	-	-	-
Financial debts`170/4`	30,110	43,072	64,153	58,427	60,616	35,757	916	3,581	11,245	10,022	17,547	-	-	-	-
Amounts payable within one year`42/48`	694,103	461,851	630,426	288,096	182,063	84,849	137,744	46,580	68,357	37,909	33,480	2,454	2,179	2,374	20,556
Current portion of amounts payable after more than one year`42`	12,962	21,081	26,163	25,242	13,593	10,414	2,881	8,287	7,325	7,524	7,171	-	-	-	-
Financial debts`43`	8	-	-	-	26,543	6,884	-	6,833	2,849	-	-	-	-	-	-
Credit institutions`430/8`	8	-	-	-	26,543	6,884	-	6,833	2,849	-	-	-	-	-	-
Trade debts`44`	394,801	261,727	444,199	200,995	88,373	50,447	128,655	30,610	49,882	14,157	25,059	293	168	363	18,426
Suppliers`440/4`	394,801	261,727	444,199	200,995	88,373	50,447	128,655	30,610	49,882	14,157	25,059	293	168	363	18,426
Advances received on contracts in progress`46`	-	-	-	-	370	370	-	-	-	3,088	-	-	-	-	-
Taxes, remuneration and social security`45`	266,872	173,478	155,370	61,859	53,184	16,733	6,208	850	8,301	13,140	1,250	-	-	-	2,119
Taxes`450/3`	117,629	88,156	96,369	39,405	26,072	14,003	6,208	-	5,780	10,389	1,250	-	-	-	2,119
Remuneration and social security`454/9`	149,243	85,322	59,001	22,454	27,112	2,731	-	850	2,521	2,751	-	-	-	-	-
Other amounts payable`47/48`	19,459	5,565	4,695	-	-	-	-	-	-	-	-	2,161	2,011	2,011	11
Accrued charges and deferred income`492/3`	2,950	-	6,000	6,000	6,000	6,000	2,657	274	508	-	-	-	-	-	-
Income statement
Non-recurring operating income`76A`	-	-	-	-	817	500	-	-	-	-	-	-	-	-	-
Gross operating margin`9900`	241,535	340,192	376,727	227,466	101,188	36,589	39,277	9,953	21,260	33,388	17,186	-171	-689	3,619	-1,874
Remuneration, social security and pensions`62`	292,807	311,697	325,666	186,442	74,036	2,327	-	-	22,566	5,178	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	16,774	22,462	23,406	14,348	14,575	6,662	4,661	4,081	8,732	5,648	4,900	-	1,928	2,313	2,699
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	-	-	-4,150	-	-	-	-	-	-	-	-
Other operating charges`640/8`	2,990	3,103	4,604	2,585	128	717	859	4,600	585	893	825	89	436	89	89
Non-recurring operating charges`66A`	7,433	588	8,577	8,236	-	9,477	15,018	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	-78,470	2,342	14,474	15,856	12,450	17,407	37,907	1,272	-10,623	21,669	11,461	-260	-3,053	1,217	-4,662
Financial income`75/76B`	334	31	349	1,454	164	4,332	5	3,327	87	1,603	508	-	-	13	1
Recurring financial income`75`	334	31	349	1,454	164	4,332	5	3,327	87	1,603	508	-	-	13	1
Financial charges`65/66B`	3,326	3,705	6,300	8,411	3,590	4,013	4,331	2,611	2,094	1,545	425	162	91	107	80
Recurring financial charges`65`	3,326	3,705	6,300	8,411	3,590	4,013	4,331	2,611	2,094	1,545	425	162	91	107	80
Profit (loss) for the period before taxes`9903`	-81,462	-1,332	8,522	8,898	9,023	17,726	18,563	1,988	-12,630	21,727	11,544	-422	-3,144	1,123	-4,741
Income taxes`67/77`	-	1,952	3,365	4,058	2,828	8,109	3,054	-	-	5,792	1,251	-	-	2	0
Profit (loss) for the period`9904`	-81,462	-3,284	5,158	4,840	6,195	9,617	15,509	1,988	-12,630	15,935	10,293	-422	-3,144	1,121	-4,741
Profit (loss) for the period to be appropriated`9905`	-81,462	-3,284	5,158	4,840	6,195	9,617	15,509	1,988	-12,630	15,935	10,293	-422	-3,144	1,121	-4,741
Appropriation of the result
Profit (loss) to be appropriated`9906`	-36,888	44,575	47,858	42,701	37,861	31,666	22,858	7,448	5,460	18,887	3,107	-7,186	-6,764	-3,620	-4,741
Profit (loss) brought forward from the previous period`14P`	44,575	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	809	99	-	797	155	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	809	99	-	797	155	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	6	6.7	7	4.4	1.8	0.1	-	-	0.6	1	-	-	-	-	-
Hours worked`1013`	10,628	11,196	12,156	6,882	3,316	160	-	-	1,080	160	-	-	-	-	-
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2021 (PDF), filed on 08-12-2022.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2021 annual accounts filed 130 days after the deadline. Filed on 8 December 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20534198.

Financial year	Type	Filed	Reference	Document
31-12-2021	full format	08-12-2022	2022-20534198	PDF
31-12-2020	full format	08-12-2021	2021-79800448	PDF
31-12-2019	micro format	23-12-2020	2020-77100360	PDF
31-12-2018	micro format	25-11-2019	2019-74900512	PDF
31-12-2017	micro format	26-11-2018	2018-72900021	PDF
31-12-2016	micro format	29-09-2017	2017-66200318	PDF
31-12-2015	full format	31-08-2016	2016-58100025	PDF
31-12-2014	full format	30-09-2015	2015-62300103	PDF
31-12-2013	full format	29-08-2014	2014-53500182	PDF
31-12-2012	full format	30-08-2013	2013-55400009	PDF
31-12-2011	full format	19-11-2012	2012-64100326	PDF
31-12-2010	full format	30-08-2011	2011-52600368	PDF
31-12-2009	full format	26-08-2010	2010-45700272	PDF
31-12-2008	full format	12-08-2009	2009-56800261	PDF
31-12-2007	full format	11-08-2008	2008-55700222	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	-61,696	24,804	37,880	30,204	27,025	24,069	42,568	5,353	-1,891	27,317	16,361	-	-1,125	3,530	-1,963
Cash flow	-64,688	19,178	28,564	19,188	20,770	16,279	20,170	6,069	-3,898	21,583	15,193	-	-1,216	3,434	-2,042
Investment in fixed assets (approximation)	1,500	0	45,607	0	17,921	50,241	3,048	0	10,000	3,097	14,450	-	0	-0	6,940
Change in cash	5,527	-78,381	-89,988	189,836	3,797	-3,734	5,821	-8,132	-3,060	-18,522	29,380	320	-2,724	-13,604	-
Working capital	-14,382	61,818	69,720	81,036	64,038	36,330	31,108	14,268	16,097	28,265	17,304	-986	-564	652	-2,782
Solvency	-4.1%	9.4%	7.4%	12.6%	15.6%	23.9%	17.6%	22.4%	13.6%	34.5%	15.4%	-	-	-	6.6%
Current ratio	0.98	1.13	1.11	1.28	1.35	1.43	1.23	1.31	1.24	1.75	1.52	-	-	-	0.86
Quick ratio	0.96	1.11	1.09	1.23	1.30	1.43	1.23	1.31	1.24	1.75	1.52	-	-	-	0.86
Debt to equity	-	9.59	12.53	6.94	5.42	3.19	4.69	3.45	6.35	1.90	5.48	-	-	-	14.09
ROE	-	-6.2%	9.2%	9.5%	13.5%	24.2%	51.5%	13.6%	-100.1%	63.1%	110.6%	-	-	-	-325.0%
ROA	-11.7%	-0.6%	0.7%	1.2%	2.1%	5.8%	9.0%	3.1%	-13.6%	21.8%	17.1%	-	-	-	-21.5%
Interest coverage	-18.55	-	-	-	-	-	-	-	-	-	-	-	-	-	-

EBIT margin: not included in this filing.

Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	31-12-2021
Employees at the balance-sheet date	6
full-time	5
part-time	1
in full-time equivalents	5.8
Average over the year, in full-time equivalents	6
On a permanent contract	5
Joined	1
Left	2

Source: social balance sheet in the 2021 annual accounts

Investments

fixed assets acquired

Item	2021
Tangible fixed assets	€1,500
Depreciation and write-downs of the year	€16,774

Source: notes to the 2021 annual accounts (statement of fixed assets)

Insights on MINDZ

The operating result for 2021 is a loss of €78,470, after a profit of €2,342 in 2020. It is the lowest result since 2007.

Equity is negative. Debt (€727,164) exceeds the balance-sheet total (€698,336).

Board & ownership

Curator

1 mandate

Gerry Verschuren

Curator, Bleekstraat 11/003, 2800 Mechelen

from 16-05-2023 to 01-01-2026

Also on 255 other cases

Last board

1 director

SEYNAEVE GREGORY

Director

listed in the 2021 annual accounts, filed on 08-12-2022

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today

SEYNAEVE GREGORY
Director

Boardmandate already running before its first mentionBankruptcy 16-05-2023

Mandates as a list

SEYNAEVE GREGORY
- Director, from before 31-12-2021, until the bankruptcy of 16-05-2023

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution: €6,200
Source: 2021 annual accounts

Network & group

No group

MINDZ has no parent and no holdings in its annual accounts. SEYNAEVE GREGORY is the only director. MINDZ shares no director with another company.

Timeline

25 events since 2006

Filings

Financial

Establishments

Insolvency

20062008201020122014201620182020202220242026

2026

12-01-2026

Bankruptcy closure (by liquidation) Enterprise Court of Brussels · judgment of 01-01-2026

2023

24-05-2023

Bankruptcy published Enterprise Court of Brussels · judgment of 16-05-2023

2022

08-12-2022

Annual accounts 2021 filed PDFfull format · 130 days late

2021

31-12-2021

Weakest financial year net -€81,462 The net result drops to -€81,462, the lowest from 2007 to 2021.

08-12-2021

Annual accounts 2020 filed PDFfull format · 130 days late

2020

23-12-2020

Annual accounts 2019 filed PDFmicro format · 145 days late

2019

25-11-2019

Annual accounts 2018 filed PDFmicro format · 117 days late

2018

26-11-2018

Annual accounts 2017 filed PDFmicro format · 118 days late

2017

29-09-2017

Annual accounts 2016 filed PDFmicro format · 60 days late

2016

31-08-2016

Annual accounts 2015 filed PDFfull format · 31 days late

2015

30-09-2015

Annual accounts 2014 filed PDFfull format · 61 days late

2014

31-12-2014

Back to profit net €1,988 The net result is €1,988, after one loss-making year.

29-08-2014

Annual accounts 2013 filed PDFfull format · 29 days late

2013

30-08-2013

Annual accounts 2012 filed PDFfull format · 30 days late

2012

31-12-2012

Highest result from 2007 to 2021 net €15,935 ▲54.8% The net result of €15,935 is the highest of those years.

19-11-2012

Annual accounts 2011 filed PDFfull format · 111 days late

2011

31-12-2011

Back to profit net €10,293 The net result is €10,293, after 2 loss-making years.

31-12-2011

Liquidity more than doubled current ratio 1.52 The current ratio rises from 0.60 to 1.52.

30-08-2011

Annual accounts 2010 filed PDFfull format · 30 days late

2010

26-08-2010

Annual accounts 2009 filed PDFfull format · 26 days late

2009

12-08-2009

Annual accounts 2008 filed PDFfull format · 12 days late

2008

31-12-2008

Back to profit net €1,121 The net result is €1,121, after one loss-making year.

11-08-2008

Annual accounts 2007 filed PDFfull format · 11 days late

2007

17-01-2007

First establishment HOMELAB 202, Albert Van Cotthemstraat 171, Sint-Pieters-Leeuw

2006

29-11-2006

Incorporation PDF9 publications in the Belgian Official Gazette, the last on 01-12-2020 · published on 07-12-2006

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

On 29 November 2006, MINDZ was incorporated.¹ Total assets went from €403,284 in 2018 to €698,336 in 2021 and headcount from 4.4 to 6 full-time equivalents.² The company was declared bankrupt on 16 May 2023. The bankruptcy was closed on 1 January 2026.³⁴

Company details

Identity

Enterprise number: 0885.305.142
VAT number: BE 0885.305.142
Legal form: Private limited company
Status: Bankruptcy closed
Founded: 29-11-2006
Financial year: ends on 31 December
Peppol: Not found in the Peppol Directory
Name: MINDZ in French
Entity type: Legal entity

Activities

NACEBEL 2025

31002 Manufacture of furniture main activity

43320 Joinery installation

74111 Design of textile patterns, clothing, jewellery, furniture and decorative items

Joint committees annual accounts 2021

JC 124 Construction

Codes under NACEBEL 2008

31020 Manufacture of furniture main activity

43320 Joinery installation

74101 Other professional, scientific and technical activities

Registered office and establishments

1 establishment

Establishment	Since	Unit number
HOMELAB 202 registered office Albert Van Cotthemstraat 171, 1600 Sint-Pieters-Leeuw 25110 Manufacture of metal structures and parts of structures	17-01-2007	2.158.653.242

registered office establishment approximate The establishment unit on the map

Overview

Lifetime

Key points

Equity

Debts

Filings

Board and ownership

Recent changes

Official details

Annual accounts 2021

Insights on MINDZ

Financials

Annual accounts 2021

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency-4.1%

Current ratio0.98

Return on assets-11.7%

Staff

Staff cost per FTE€48,801

Joined and left-1

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on MINDZ

Board & ownership

Curator

Last board

Mandates through the years

Control

Capital

Network & group

No group

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Location