NETWORK &CO
InactiveNETWORK &CO was declared bankrupt on 02-07-2024 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed by liquidation by judgment of 03-03-2026, published in the Belgian State Gazette on 06-03-2026.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 8 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline26-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 19-06-2024, 324 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
324 d late
2021
249 d late
2020
147 d late
2019
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 176 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2022, abbreviated schema
Turnover
€312,004
EBIT margin
3.1%
Net result
-€7,642
2021 · €9,799
Working capital
€57,906▼ 7.5%
2021 · €62,613
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Turnover€312,004
Operating result-€1,146--€4,704▼ 310%€62,794€18,394▼ 70.7%€9,517▼ 48.3%
Net result-€5,221--€6,460▼ 23.7%€40,978€9,799▼ 76.1%-€7,642
EBIT margin3.1%
Equity€17,373-€10,912▼ 37.2%€64,290▲ 489%€74,090▲ 15.2%€66,448▼ 10.3%
Total assets€32,095-€26,192▼ 18.4%€197,416▲ 654%€374,192▲ 89.5%€495,020▲ 32.3%
Debt€14,723-€15,280▲ 3.8%€133,126▲ 771%€300,102▲ 125%€428,572▲ 42.8%
Working capital€12,457-€10,684▼ 14.2%€52,649▲ 393%€62,613▲ 18.9%€57,906▼ 7.5%
Staff (FTE)0.7-2.23.7▲ 68.2%4▲ 8.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2022 is 48% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €495,020
Fixed assets
€8,542 ▼ 25.6%
Current assets
€486,478 ▲ 34.1%
Equity and liabilities €495,020
Equity
€66,448 ▼ 10.3%
Debt
€428,572 ▲ 42.8%
Debt's share of the balance-sheet total rises from 80.2% to 86.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€12,452▼
2021 · €21,181
Cash flow
-€4,707▼
2021 · €12,587
Current ratio
1.14▼
2021 · 1.21
Debt to equity
6.45▲
2021 · 4.05
ROE
-11.5%▼
2021 · 13.2%
ROA
-1.5%▼
2021 · 2.6%
Interest coverage
2.17▼
2021 · 12.47
Debt ≤ 1 year
€428,572▲
2021 · €300,102
Income taxes
€21,995▲
2021 · €12,689
Staff costs
€87,627▼
2021 · €110,648
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €312,004 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €202,770 | - |
| Remuneration, social security and pensions62 | - | - | - | €110,648 | €87,627 | ▼ 20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,887 | - | €759 | €2,788 | €2,935 | ▲ 5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €4,665 | - | - |
| Other operating charges640/8 | - | - | - | €7,752 | €9,155 | ▲ 18.1% |
| Gross operating margin9900 | €40,443 | -€143 | €124,393 | €144,246 | €109,234 | ▼ 24.3% |
| Operating profit (loss)9901 | -€1,146 | -€4,704 | €62,794 | €18,394 | €9,517 | ▼ 48.3% |
| Financial income75/76B | - | - | - | €5,794 | €10,583 | ▲ 82.6% |
| Recurring financial income75 | €13 | - | €1,371 | €5,794 | €10,583 | ▲ 82.6% |
| Financial charges65/66B | - | - | - | €1,699 | €5,747 | ▲ 238% |
| Recurring financial charges65 | €3,835 | €1,342 | €6,074 | €1,699 | €5,747 | ▲ 238% |
| Profit (loss) for the period before taxes9903 | -€4,969 | -€6,047 | €58,091 | €22,489 | €14,353 | ▼ 36.2% |
| Income taxes67/77 | €252 | €414 | €17,113 | €12,689 | €21,995 | ▲ 73.3% |
| Profit (loss) for the period9904 | -€5,221 | -€6,460 | €40,978 | €9,799 | -€7,642 | ▼ 178% |
| Profit (loss) for the period to be appropriated9905 | -€5,221 | -€6,460 | €40,978 | €9,799 | -€7,642 | ▼ 178% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €32,095 | €26,192 | €197,416 | €374,192 | €495,020 | ▲ 32.3% |
| Fixed assets21/28 | €4,916 | €368 | €11,641 | €11,476 | €8,542 | ▼ 25.6% |
| Tangible fixed assets22/27 | €3,822 | - | €11,641 | €11,126 | €8,192 | ▼ 26.4% |
| Furniture and vehicles24 | - | - | - | €11,126 | €8,192 | ▼ 26.4% |
| Financial fixed assets28 | €1,094 | €368 | - | €350 | €350 | = |
| Current assets29/58 | €27,179 | €25,824 | €185,775 | €362,715 | €486,478 | ▲ 34.1% |
| Amounts receivable within one year40/41 | €23,193 | €12,735 | €131,388 | €344,901 | €474,762 | ▲ 37.7% |
| Trade receivables40 | - | - | - | €188,367 | €316,385 | ▲ 68.0% |
| Other amounts receivable41 | - | - | - | €156,534 | €158,377 | ▲ 1.2% |
| Cash at bank and in hand54/58 | €3,986 | €12,846 | €54,387 | €16,535 | €11,716 | ▼ 29.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,279 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €32,095 | €26,192 | €197,416 | €374,192 | €495,020 | ▲ 32.3% |
| Equity10/15 | €17,373 | €10,912 | €64,290 | €74,090 | €66,448 | ▼ 10.3% |
| Contributions10/11 | €6,200 | €6,200 | - | €18,600 | €18,600 | = |
| Reserves13 | €11,173 | €4,712 | €4,712 | €4,712 | €4,712 | = |
| Non-distributable reserves130/1 | - | - | - | €1,151 | €1,151 | = |
| Reserves not available under the articles1311 | - | - | - | €1,151 | €1,151 | = |
| Distributable reserves133 | - | - | - | €3,562 | €3,561 | = |
| Profit (loss) carried forward14 | - | - | €40,978 | €50,778 | €43,136 | ▼ 15.0% |
| Amounts payable17/49 | €14,723 | €15,280 | €133,126 | €300,102 | €428,572 | ▲ 42.8% |
| Amounts payable within one year42/48 | €14,723 | €15,140 | €133,126 | €300,102 | €428,572 | ▲ 42.8% |
| Financial debts43 | - | - | - | - | €1,174 | - |
| Credit institutions430/8 | - | - | - | - | €1,174 | - |
| Trade debts44 | €9,513 | €8,593 | €22,313 | €258,383 | €78,273 | ▼ 69.7% |
| Suppliers440/4 | - | - | - | €258,383 | €78,273 | ▼ 69.7% |
| Advances received on contracts in progress46 | - | - | - | - | €5,000 | - |
| Taxes, remuneration and social security45 | - | - | - | €41,719 | €55,304 | ▲ 32.6% |
| Taxes450/3 | - | - | - | €31,789 | €48,988 | ▲ 54.1% |
| Remuneration and social security454/9 | - | - | - | €9,930 | €6,316 | ▼ 36.4% |
| Other amounts payable47/48 | - | - | - | - | €288,821 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,221 | -€6,460 | €40,978 | €9,799 | -€7,642 | ▼ 178% |
| + Depreciation and write-downs630 | €1,887 | - | €759 | €2,788 | €2,935 | ▲ 5.3% |
| Operating cash flow (approximation) | -€3,334 | -€6,460 | €41,737 | €12,587 | -€4,707 | ▼ 137% |
| Investment in fixed assets (approximation) | - | €4,548 | -€12,032 | -€2,623 | -€1 | ▲ 100.0% |
| Change in cash | - | €8,860 | €41,541 | -€37,852 | -€4,819 | ▲ 87.3% |
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
2026
06-03
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 03-03-2026
2024
10-07
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 02-07-2024
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 324 days late
2023
06-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 249 days late
2022
31-12
Financial
Weakest financial yearnet -€7,642
Net result drops to -€7,642, the lowest in the series.
2021
25-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 147 days late
2020
31-12
Financial
Back to profitnet €40,978
Net result €40,978 after 2 loss-making years.
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
12-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | HILDE DE BOEVER BRUSSELSESTEENWEG 346 C BUS 1,
9090 MELLE |
02-07-2024 → 03-03-2026 |