NETWORKNEEDS MG
InactiveNETWORKNEEDS MG was declared bankrupt on 28-11-2023 (Ondernemingsrechtbank Antwerpen, afdeling Turnhout); the bankruptcy was closed by liquidation by judgment of 20-05-2025, published in the Belgian State Gazette on 23-05-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
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 31-12-2022, 4 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 · 4 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 29-09-2022, 60 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
60 d late
2020
143 d late
2019
25 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Equity
€67k▲ 6.9%
2020 · €63k
2018: €21klowest in 4 years
2019: €39k▲ +85.9% vs 2018
2020: €63k▲ +62.7% vs 2019
2021: €67k▲ +6.9% vs 2020highest in 4 years
2018 → 2021
Total assets
€136k▲ 22.0%
2020 · €112k
2018: €54klowest in 4 years
2019: €76k▲ +39.9% vs 2018
2020: €112k▲ +46.9% vs 2019
2021: €136k▲ +22.0% vs 2020highest in 4 years
2018 → 2021
Net result
€4k▼ 82.0%
2020 · €24k
2018: €2klowest in 4 years
2019: €18k▲ +726% vs 2018
2020: €24k▲ +35.7% vs 2019highest in 4 years
2021: €4k▼ -82.0% vs 2020
2018 → 2021
Working capital
€43k▼ 39.7%
2020 · €72k
2018: €21klowest in 4 years
2019: €39k▲ +85.9% vs 2018
2020: €72k▲ +86.7% vs 2019highest in 4 years
2021: €43k▼ -39.7% vs 2020
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€21k-€39k▲ 85.9%€63k▲ 62.7%€67k▲ 6.9%
2018: €21klowest in 4 years
2019: €39k▲ +85.9% vs 2018
2020: €63k▲ +62.7% vs 2019
2021: €67k▲ +6.9% vs 2020highest in 4 years
Operating result€6k-€28k▲ 413%€31k▲ 8.5%€7k▼ 78.2%
2018: €6klowest in 4 years
2019: €28k▲ +413% vs 2018
2020: €31k▲ +8.5% vs 2019highest in 4 years
2021: €7k▼ -78.2% vs 2020
Net result€2k-€18k▲ 726%€24k▲ 35.7%€4k▼ 82.0%
2018: €2klowest in 4 years
2019: €18k▲ +726% vs 2018
2020: €24k▲ +35.7% vs 2019highest in 4 years
2021: €4k▼ -82.0% vs 2020
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2021; 2021 is 78% below 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €136k
Fixed assets
€24k
Current assets
€112k
Equity and liabilities €136k
Equity
€67k ▲ 6.9%
Debt
€69k ▲ 41.3%
Debt's share of the balance-sheet total rises from 43.7% to 50.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18k
Cash flow
€16k
Current ratio
1.63▼
2020 · 2.82
Quick ratio
1.44▼
2020 · 2.43
Debt to equity
1.03
ROE
6.5%▼
2020 · 38.5%
ROA
3.2%▼
2020 · 21.7%
Interest coverage
39.21
Debt ≤ 1 year
€69k▲
2020 · €40k
Income taxes
€3k▼
2020 · €6k
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 · 2021 against 2020 · 46 lines
Balance sheet
Code20202021
Assets
Total assets20/58€112k€136k▲
Fixed assets21/28-€24k
Tangible fixed assets22/27-€24k
Plant, machinery and equipment23-€2k
Furniture and vehicles24-€22k
Current assets29/58€112k€112k▲
Stocks and contracts in progress3€15k€13k▼
Stocks30/36-€13k
Amounts receivable within one year40/41€63k€84k▲
Trade receivables40-€32k
Other amounts receivable41-€52k
Cash at bank and in hand54/58€33k€16k▼
Equity and liabilities
Total equity and liabilities10/49€112k€136k▲
Equity10/15€63k€67k▲
Contributions10/11-€19k
Reserves13€20k€24k▲
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Distributable reserves133-€22k
Profit (loss) carried forward14€24k€24k=
Amounts payable17/49€49k€69k▲
Amounts payable within one year42/48€40k€69k▲
Financial debts43-€6k
Credit institutions430/8-€6k
Trade debts44€14k€34k▲
Suppliers440/4-€34k
Taxes, remuneration and social security45-€29k
Taxes450/3-€29k
Income statement
Code20202021
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€12k
Other operating charges640/8-€2k
Gross operating margin9900€32k€21k▼
Operating profit (loss)9901€31k€7k▼
Financial income75/76B-€1k
Recurring financial income75€38€566▲
Non-recurring financial income76B-€574
Financial charges65/66B-€585
Recurring financial charges65€436€470▲
Non-recurring financial charges66B-€115
Profit (loss) for the period before taxes9903€31k€7k▼
Income taxes67/77€6k€3k▼
Profit (loss) for the period9904€24k€4k▼
Profit (loss) for the period to be appropriated9905€24k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€29k
Profit (loss) brought forward from the previous period14P-€24k
Transfer to equity691/2-€4k
To other reserves6921-€4k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €12k | - |
| Other operating charges640/8 | - | - | - | €2k | - |
| Gross operating margin9900 | €6k | €29k | €32k | €21k | ▼ 34.7% |
| Operating profit (loss)9901 | €6k | €28k | €31k | €7k | ▼ 78.2% |
| Financial income75/76B | - | - | - | €1k | - |
| Recurring financial income75 | €21 | €49 | €38 | €566 | ▲ 1,390% |
| Non-recurring financial income76B | - | - | - | €574 | - |
| Financial charges65/66B | - | - | - | €585 | - |
| Recurring financial charges65 | €2k | €28 | €436 | €470 | ▲ 7.8% |
| Non-recurring financial charges66B | - | - | - | €115 | - |
| Profit (loss) for the period before taxes9903 | €4k | €29k | €31k | €7k | ▼ 76.1% |
| Income taxes67/77 | €1k | €11k | €6k | €3k | ▼ 53.2% |
| Profit (loss) for the period9904 | €2k | €18k | €24k | €4k | ▼ 82.0% |
| Profit (loss) for the period to be appropriated9905 | €2k | €18k | €24k | €4k | ▼ 82.0% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €54k | €76k | €112k | €136k | ▲ 22.0% |
| Fixed assets21/28 | - | - | - | €24k | - |
| Tangible fixed assets22/27 | - | - | - | €24k | - |
| Plant, machinery and equipment23 | - | - | - | €2k | - |
| Furniture and vehicles24 | - | - | - | €22k | - |
| Current assets29/58 | €54k | €76k | €112k | €112k | ▲ 0.7% |
| Stocks and contracts in progress3 | - | €15k | €15k | €13k | ▼ 16.2% |
| Stocks30/36 | - | - | - | €13k | - |
| Amounts receivable within one year40/41 | €43k | €47k | €63k | €84k | ▲ 32.4% |
| Trade receivables40 | - | - | - | €32k | - |
| Other amounts receivable41 | - | - | - | €52k | - |
| Cash at bank and in hand54/58 | €11k | €13k | €33k | €16k | ▼ 52.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €54k | €76k | €112k | €136k | ▲ 22.0% |
| Equity10/15 | €21k | €39k | €63k | €67k | ▲ 6.9% |
| Contributions10/11 | €19k | €19k | - | €19k | - |
| Reserves13 | €2k | €20k | €20k | €24k | ▲ 21.7% |
| Non-distributable reserves130/1 | - | - | - | €2k | - |
| Reserves not available under the articles1311 | - | - | - | €2k | - |
| Distributable reserves133 | - | - | - | €22k | - |
| Profit (loss) carried forward14 | - | - | €24k | €24k | = |
| Amounts payable17/49 | €34k | €37k | €49k | €69k | ▲ 41.3% |
| Amounts payable within one year42/48 | €34k | €37k | €40k | €69k | ▲ 74.3% |
| Financial debts43 | - | - | - | €6k | - |
| Credit institutions430/8 | - | - | - | €6k | - |
| Trade debts44 | €32k | €22k | €14k | €34k | ▲ 142% |
| Suppliers440/4 | - | - | - | €34k | - |
| Taxes, remuneration and social security45 | - | - | - | €29k | - |
| Taxes450/3 | - | - | - | €29k | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €18k | €24k | €4k | ▼ 82.0% |
| + Depreciation and write-downs630 | - | - | - | €12k | - |
| Operating cash flow (approximation) | €2k | €18k | €24k | €16k | ▼ 33.8% |
| Change in cash | - | €2k | €20k | €-17k | ▼ 188% |
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
2025
23-05
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · event 20-05-2025
2023
04-12
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · event 28-11-2023
2022
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 143 days late
2020
31-12
Financial
Highest result since 2018net €24k ▲35.7%
Operating result €31k, net result €24k, both a record.
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 25 days late
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 337 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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 | GEERT NAULAERTS DE MERODELEI 83, 2300 TURN-
HOUT |
28-11-2023 → 20-05-2025 |