Debts
€428,572 87% of the balance sheet
Financial debts 0%Suppliers 18%Taxes and wages 13%Other 69%
NETWORK &CO
Overview
Lifetime
8 annual accounts with figures on one time axispeak €144,246 (2021)
€109,234▼ 24.3%
lowest -€7,642 (2022)
-€7,642▼ €17,441
peak €74,090 (2021)
€66,448▼ 10.3%
€428,572▲ 42.8%
peak 4 FTE (2022)
4 FTE
Board4 names since 2019
1 directorAKBEL IZZET
Documentsfilings and deeds
19-06-2024324 days late
2022abbreviated format
Gross margin from €144,246 to €109,234Loss of €7,642Transfer of 100 shares from ARAS HUSNU to AKBEL IZZET 19-09Debts from €300,102 to €428,572
Key points
from the 2022 annual accounts, the last ones filedFilings
8 annual accounts 3 late
The 2022 accounts came latest: 324 days after the end of the period.
No score
Recent changes
Bankruptcy closure (by liquidation)
Enterprise Court of Ghent, Ghent division · judgment of 03-03-2026 · Bankruptcy
Bankruptcy published
Enterprise Court of Ghent, Ghent division · judgment of 02-07-2024 · Bankruptcy
Registered office moved within Ghent
New registered office: Ottergemsesteenweg- Zuid 808 Bus 558-9000 Gent · Previous registered office: EEDVERBONDKAAI 242, 9000 GENT · General meeting of 27-06-2023 · Gazette deed
Transfer of 100 shares from ARAS HUSNU to AKBEL IZZET
Appointment: AKBEL IZZET (director) · Resignation: ARAS HUSNU (director) · Director discharge: ARAS HUSNU · General meeting of 01-09-2022 · Gazette deed
Official details
Source: KBO- Status
- Inactivedeed of incorporation of 10-04-2014 · bankruptcy closed on 03-03-2026
- Activity
- “Transport;” (deed in Dutch)From the articles, 5 activitiesNo NACE code in the KBO yet
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2022
- €312,004
- €7,642
- €66,448▼ 10.3%
- €495,020▲ 32.3%
- Employeeson 31-12-2022
- 4=
- Filing
- Filed on 19-06-2024
Insights on NETWORK &CO
On 2 July 2024 the court declared NETWORK &CO bankrupt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2022
abbreviated format, filed on 19-06-2024, 324 days late€312,004
€9,517
▼ 48.3%
€12,452
▼ 41.2%
-€4,707
▼ €17,294
13.4%
▼ 6.4 percentage points
1.14
▼ 0.07
Money flows
of every €100 of turnover, €2.45 was lost in 2022Balance sheet
balance sheet total €495,020 on 31-12-2022What the company ownsHow it is paid for
in euro
in euro
Staff
€21,907
Staff costs divided by the average number of full-time equivalents.
people who joined
people who left
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
495,020 | 374,192 | 197,416 | 26,192 | 32,095 | 34,386 | 48,412 | 62,486 | |
21/28 |
8,542 | 11,476 | 11,641 | 368 | 4,916 | 9,903 | 4,041 | - | |
22/27 |
8,192 | 11,126 | 11,641 | - | 3,822 | 5,709 | 941 | - | |
23 |
- | - | - | - | 1,662 | 2,456 | - | - | |
24 |
8,192 | 11,126 | 11,641 | - | 2,160 | 3,253 | 941 | - | |
28 |
350 | 350 | - | 368 | 1,094 | 4,194 | 3,100 | - | |
29/58 |
486,478 | 362,715 | 185,775 | 25,824 | 27,179 | 24,483 | 44,370 | 62,486 | |
40/41 |
474,762 | 344,901 | 131,388 | 12,735 | 23,193 | 15,321 | 11,845 | 10,086 | |
40 |
316,385 | 188,367 | 103,296 | 12,649 | 17,205 | 11,861 | 10,890 | 10,086 | |
41 |
158,377 | 156,534 | 28,093 | 86 | 5,988 | 3,460 | 955 | - | |
54/58 |
11,716 | 16,535 | 54,387 | 12,846 | 3,986 | 9,162 | 32,526 | 52,399 | |
490/1 |
- | 1,279 | - | 243 | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
495,020 | 374,192 | 197,416 | 26,192 | 32,095 | 34,386 | 48,412 | 62,486 | |
10/15 |
66,448 | 74,090 | 64,290 | 10,912 | 17,373 | 22,594 | 27,947 | 29,211 | |
10/11 |
18,600 | 18,600 | 18,600 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
4,712 | 4,712 | 4,712 | 4,712 | 11,173 | 16,394 | 21,747 | 23,011 | |
130/1 |
1,151 | 1,151 | 1,151 | - | - | - | - | - | |
130 |
- | - | - | 1,151 | 1,151 | 1,151 | 1,151 | 1,151 | |
1311 |
1,151 | 1,151 | 1,151 | - | - | - | - | - | |
133 |
3,561 | 3,562 | 3,562 | 3,562 | 10,022 | 15,243 | 20,597 | 21,860 | |
14 |
43,136 | 50,778 | 40,978 | - | - | - | - | - | |
17/49 |
428,572 | 300,102 | 133,126 | 15,280 | 14,723 | 11,792 | 20,465 | 33,275 | |
42/48 |
428,572 | 300,102 | 133,126 | 15,140 | 14,723 | 11,728 | 16,590 | 15,957 | |
43 |
1,174 | - | - | 2,000 | - | - | - | - | |
430/8 |
1,174 | - | - | 2,000 | - | - | - | - | |
44 |
78,273 | 258,383 | 22,313 | 8,593 | 9,513 | 3,880 | 16,474 | 1,610 | |
440/4 |
78,273 | 258,383 | 22,313 | 8,593 | 9,513 | 3,880 | 16,474 | 1,610 | |
46 |
5,000 | - | 48,456 | - | - | - | - | - | |
45 |
55,304 | 41,719 | 62,357 | 2,607 | 3,200 | 3,759 | 116 | 14,347 | |
450/3 |
48,988 | 31,789 | 38,820 | 1,091 | 314 | 3,759 | 116 | 14,347 | |
454/9 |
6,316 | 9,930 | 23,537 | 1,516 | 2,886 | - | - | - | |
47/48 |
288,821 | - | - | 1,939 | 2,010 | 4,088 | - | - | |
492/3 |
- | - | - | 140 | - | 64 | 3,874 | 17,318 | |
| Income statement | |||||||||
70 |
312,004 | - | - | - | - | - | - | - | |
9900 |
109,234 | 144,246 | 124,393 | -143 | 40,443 | 6,629 | 1,507 | 40,555 | |
60/61 |
202,770 | - | - | - | - | - | - | - | |
62 |
87,627 | 110,648 | 60,160 | - | 38,593 | 7,095 | - | - | |
630 |
2,935 | 2,788 | 759 | - | 1,887 | 2,082 | 568 | - | |
631/4 |
- | 4,665 | - | - | - | - | - | - | |
640/8 |
9,155 | 7,752 | 680 | 1,239 | 1,109 | 1,114 | 965 | 2,216 | |
66A |
- | - | - | 3,322 | - | - | - | - | |
9901 |
9,517 | 18,394 | 62,794 | -4,704 | -1,146 | -3,663 | -27 | 38,339 | |
75/76B |
10,583 | 5,794 | 1,371 | - | 13 | 39 | 77 | 6 | |
75 |
10,583 | 5,794 | 1,371 | - | 13 | 39 | 77 | 6 | |
65/66B |
5,747 | 1,699 | 6,074 | 1,342 | 3,835 | 842 | 1,197 | 2,835 | |
65 |
5,747 | 1,699 | 6,074 | 1,342 | 3,835 | 842 | 1,197 | 2,835 | |
9903 |
14,353 | 22,489 | 58,091 | -6,047 | -4,969 | -4,465 | -1,147 | 35,511 | |
67/77 |
21,995 | 12,689 | 17,113 | 414 | 252 | 888 | 117 | 12,500 | |
9904 |
-7,642 | 9,799 | 40,978 | -6,460 | -5,221 | -5,353 | -1,263 | 23,011 | |
9905 |
-7,642 | 9,799 | 40,978 | -6,460 | -5,221 | -5,353 | -1,263 | 23,011 | |
| Appropriation of the result | |||||||||
9906 |
43,136 | 50,778 | 40,978 | -6,460 | -5,221 | -5,353 | -1,263 | 23,011 | |
14P |
50,778 | 40,978 | - | - | - | - | - | - | |
791/2 |
- | - | - | 6,460 | 5,221 | 5,353 | 1,263 | - | |
691/2 |
- | - | - | - | - | - | - | 23,011 | |
6920 |
- | - | - | - | - | - | - | 1,151 | |
6921 |
- | - | - | - | - | - | - | 21,860 | |
| Social balance sheet | |||||||||
9087 |
4 | 3.7 | 2.2 | - | 0.7 | - | - | - | |
Hours worked1013 |
4,461 | 4,461 | 3,037 | - | 1,152 | - | - | - | |
| Document | |||||||||
The notes to these accounts have 6 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 2022 (PDF), filed on 19-06-2024.
Filings
each dot is a set of accounts, on the day it reached the National Bank2022 annual accounts filed 324 days after the deadline. Filed on 19 June 2024, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2024-00146527.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | abbreviated format | 19-06-2024 | 2024-00146527 | |
| 31-12-2021 | micro format | 06-04-2023 | 2023-00055316 | |
| 31-12-2020 | micro format | 25-12-2021 | 2021-81800546 | |
| 31-12-2019 | micro format | 15-07-2020 | 2020-32200280 | |
| 31-12-2018 | micro format | 23-07-2019 | 2019-39400588 | |
| 31-12-2017 | micro format | 15-07-2018 | 2018-34600206 | |
| 31-12-2016 | micro format | 18-07-2017 | 2017-32900016 | |
| 31-12-2015 | abbreviated format | 12-07-2016 | 2016-32300283 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|
| 12,452 | 21,181 | 63,553 | - | 741 | -1,581 | 542 | - | ||
| -4,707 | 12,587 | 41,737 | - | -3,334 | -3,271 | -695 | - | ||
| 1 | 2,623 | 12,400 | - | -3,100 | 7,944 | 4,610 | - | ||
| -4,819 | -37,852 | 41,541 | 8,860 | -5,175 | -23,364 | -19,874 | - | ||
| 57,906 | 62,613 | 52,649 | 10,684 | 12,457 | 12,754 | 27,780 | 46,529 | ||
| 3.1% | - | - | - | - | - | - | - | ||
| 13.4% | 19.8% | 32.6% | 41.7% | 54.1% | 65.7% | 57.7% | 46.7% | ||
| 1.14 | 1.21 | 1.40 | 1.71 | 1.85 | 2.09 | 2.67 | 3.92 | ||
| 6.45 | 4.05 | 2.07 | 1.40 | 0.85 | 0.52 | 0.73 | 1.14 | ||
| -11.5% | 13.2% | 63.7% | -59.2% | -30.1% | -23.7% | -4.5% | 78.8% | ||
| -1.5% | 2.6% | 20.8% | -24.7% | -16.3% | -15.6% | -2.6% | 36.8% | ||
| 2.17 | 12.47 | - | - | - | - | - | - | ||
| 370 days | - | - | - | - | - | - | - | ||
| 141 days | - | - | - | - | - | - | - |
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 | 31-12-2022 | 31-12-2021 |
|---|---|---|
| Employees at the balance-sheet date | 4 | 4 |
| full-time | 3 | 3 |
| part-time | 1 | 1 |
| in full-time equivalents | 4 | 3.9 |
| 4 | - | |
| On a permanent contract | 4 | 4 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
fixed assets acquired| Item | 2022 | 2021 |
|---|---|---|
| Tangible fixed assets | - | €2,273 |
| Financial fixed assets | - | €350 |
| €2,935 | €2,788 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Insights on NETWORK &CO
The operating result for 2022 is 48% lower than in 2021 and the lowest since 2019. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 80.2% to 86.6%. Equity is lower and debt is higher.
Board & ownership
Curator
1 mandateCurator, Brusselsesteenweg 346 C Bus 1, 9090 Melle
from 02-07-2024 to 03-03-2026
Also on 138 other cases
Last board
1 director, last change in 2022Mandates through the years
4 names, the dashed line is todayAKBEL IZZET
Director
Director
ARAS Hüsnü
Director (not named in the articles)
Director (not named in the articles)
DE RYCK Kurt
Director
Director
Van Zeebroeck Giovani
Manager
Manager
BoardEarliermandate already running before its first mentionBankruptcy 02-07-2024
Mandates as a list
- AKBEL IZZET
- Director, appointed by deed of 19-09-2022, until the bankruptcy of 02-07-2024
- ARAS Hüsnü
- Director (not named in the articles), appointed by deed of 07-10-2020, until 01-09-2022
- DE RYCK Kurt
- Director, until 07-10-2020
- Van Zeebroeck Giovani
- Manager, until 01-01-2019
Control
Capital
- Contribution
- €18,600
- Shares
- 100
- Contribution per share
- €186
- Equity per share
- €664 in 2022
- Source
- 2022 annual accounts
Articles of association
deed of 07-10-2020 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft ten laste overdrager en helft ten laste koper(s),naar evenredigheid verworven aantal bij meer kopers, elke overdracht onder…”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of June at 18:00
Shareholders
Share transfer
deed of 19-09-2022 ↗
- ARAS HUSNU to AKBEL IZZET 100 shares
Stated in the deed
deed of 07-10-2020 ↗
- ARAS Hüsnü all shares
Network & group
No group
NETWORK &CO has no parent and no holdings in its annual accounts. AKBEL IZZET is the only director. NETWORK &CO shares no director with another company.
Timeline
Timeline
19 events since 2014Board
Capital
Filings
Financial
Insolvency
Address
2014201620182020202220242026
2026
Bankruptcy closure (by liquidation) Enterprise Court of Ghent, Ghent division · judgment of 03-03-2026
2024
Bankruptcy published Enterprise Court of Ghent, Ghent division · judgment of 02-07-2024
Annual accounts 2022 filed PDFabbreviated format · 324 days late
2023
Registered office moved within GhentNew registered office: Ottergemsesteenweg- Zuid 808 Bus 558-9000 Gent · Previous registered office: EEDVERBONDKAAI 242, 9000 GENT · General meeting of 27-06-20232 points ▸
- General meeting, 27-06-2023
- Registered-office move, Ottergemsesteenweg- Zuid 808 Bus 558-9000 Gent
Annual accounts 2021 filed PDFmicro format · 249 days late
2022
Weakest financial year net -€7,642 The net result drops to -€7,642, the lowest from 2015 to 2022.
Transfer of 100 shares from ARAS HUSNU to AKBEL IZZETAppointment: AKBEL IZZET (director) · Resignation: ARAS HUSNU (director) · Director discharge: ARAS HUSNU · General meeting of 01-09-20225 points ▸
- General meeting, 01-09-2022
- Share transfer, ARAS HUSNU → AKBEL IZZET, 100 shares
- Director appointment, AKBEL IZZET
- Director resignation, ARAS HUSNU
- Director discharge, ARAS HUSNU
2021
Annual accounts 2020 filed PDFmicro format · 147 days late
2020
Back to profit net €40,978 The net result is €40,978, after 4 loss-making years.
Company renamed from M-DR to NETWORK & COResignation: DE RYCK Kurt (director) · Appointment: ARAS Hüsnü (director) · “Transport; Aan - en verkoop auto's; Uitvoeren van klussen; Onderhoud van machines en gebouwen; Import en…” (deed in Dutch) · General meeting of 17-09-202010 points ▸
- General meeting, 17-09-2020
- ARAS Hüsnü holds all the shares
- Name change, NETWORK & CO
- Purpose change, “Transport; Aan - en verkoop auto's; Uitvoeren van klussen; Onderhoud van machines en gebouwen; Import en export,aan- en verkoop van goederen (producten en…” (deed in Dutch)
- Power of attorney, Jeroen UYTTERHAEGEN, mentioned twice in the deed
- Director resignation, DE RYCK Kurt, mentioned twice in the deed
- Director appointment, ARAS Hüsnü (director (not named in the articles))
- 100 shares
- Director discharge, DE RYCK Kurt
- Registered office clause, Eedverbondkaai 242, 9000 Gent
- The deed holds 5 more points.
Annual accounts 2019 filed PDFmicro format · 16 days before the deadline
Registered office moved from Sint-Niklaas to BornemNew registered office: Weertstraat 9 bus A001 te 2880 Bornem · Previous registered office: Industriepark-West 75 te 9100 Sint-Niklaas · General meeting of 23-05-20202 points ▸
- General meeting, 23-05-2020
- Registered-office move, Weertstraat 9 bus A001 te 2880 Bornem
2019
Annual accounts 2018 filed PDFmicro format · 8 days before the deadline
Resignation: Van Zeebroeck Giovani (manager)Director discharge: Van Zeebroeck Giovani (manager) · General meeting of 31-12-20183 points ▸
- General meeting, 31-12-2018
- Director resignation, Van Zeebroeck Giovani (manager)
- Director discharge, Van Zeebroeck Giovani (manager)
2018
Annual accounts 2017 filed PDFmicro format · 16 days before the deadline
Registered office moved to Sint-NiklaasNew registered office: Industriepark - West 75 te 9100 Sint-Niklaas · General meeting of 01-01-20182 points ▸
- General meeting, 01-01-2018
- Registered-office move, Industriepark - West 75 te 9100 Sint-Niklaas
2017
Annual accounts 2016 filed PDFmicro format · 13 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 19 days before the deadline
2014
Incorporation PDF8 publications in the Belgian Official Gazette, the last on 10-07-2023
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
The registered office moved to Sint-Niklaas in 2018, to Bornem in 2020 and to Ghent in 2023.123 Since 2020 the company has been called NETWORK & CO.4 Total assets went from €32,095 in 2018 to €495,020 in 2022 and headcount from 0.7 to 4 full-time equivalents.5 NETWORK &CO was declared bankrupt on 2 July 2024. The bankruptcy was closed on 3 March 2026.67
Company details
Purpose, financial year and meetings according to the articles of association
Name, seat, purpose and duration
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Transport; Aan - en verkoop auto's; Uitvoeren van klussen; Onderhoud van machines en gebouwen; Import en export,aan- en verkoop van goederen…”
5 activities
- Transport;
- Aan - en verkoop auto's;
- Uitvoeren van klussen;
- Onderhoud van machines en gebouwen;
- Import en export,aan- en verkoop van goederen (producten en grondstoffen) en levering van diensten,begeleiding van productie en organiseren van logistiek.
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”
General meeting and financial year
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Friday of June at 18:00
Articles of association, deed of 07-10-2020 (in Dutch)
Inactive
NETWORK &CO is no longer in the KBO register.
- Last annual accounts
- financial year to 31 December 2022
- Last registered office
- Eedverbondkaai 242, 9000 Gentas published on 10 July 2023
- Legal form
- Private limited company
- First annual accounts
- financial year 2015