NOVABO
InactiveNOVABO was declared bankrupt on 02-05-2023 (Ondernemingsrechtbank Gent, afdeling Kortrijk); the bankruptcy was closed by liquidation by judgment of 10-12-2024, published in the Belgian State Gazette on 16-12-2024.
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 · 9 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 11-07-2022, 20 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
20 d early
2020
9 d early
2019
13 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 5 days before 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 2021, micro schema
Equity
€14,224▲ 4.0%
2020 · €13,676
Total assets
€110,328▲ 7.8%
2020 · €102,365
Net result
€548
2020 · -€40,175
Working capital
€3,306▲ 245%
2020 · €959
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
Line2018201920202021
Operating result€1,352-€3,236▲ 139%-€37,794€2,833
Net result€404-€1,544▲ 282%-€40,175€548
Equity€52,307-€53,851▲ 3.0%€13,676▼ 74.6%€14,224▲ 4.0%
Total assets€122,467-€116,713▼ 4.7%€102,365▼ 12.3%€110,328▲ 7.8%
Debt€70,160-€62,862▼ 10.4%€88,690▲ 41.1%€96,104▲ 8.4%
Working capital€47,401-€44,379▼ 6.4%€959▼ 97.8%€3,306▲ 245%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2021: €2,833 after a loss of €37,794 in 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €110,328
Fixed assets
€19,537 ▼ 22.9%
Current assets
€90,791 ▲ 17.9%
Equity and liabilities €110,328
Equity
€14,224 ▲ 4.0%
Debt
€96,104 ▲ 8.4%
Debt's share of the balance-sheet total rises from 86.6% to 87.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9,679▲
2020 · -€31,646
Cash flow
€7,393▲
2020 · -€34,027
Current ratio
1.04▲
2020 · 1.01
Quick ratio
0.59▼
2020 · 0.83
Debt to equity
6.76▲
2020 · 0.92
ROE
3.9%▲
2020 · -293.8%
ROA
0.5%▲
2020 · -39.2%
Interest coverage
4.24
Debt ≤ 1 year
€87,485▲
2020 · €76,079
Debt > 1 year
€8,619▼
2020 · €12,535
Income taxes
€0▼
2020 · €606
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 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,937 | €2,802 | €6,148 | €6,846 | ▲ 11.4% |
| Other operating charges640/8 | - | - | - | €875 | - |
| Gross operating margin9900 | €8,378 | €25,857 | -€29,510 | €10,553 | ▲ 136% |
| Operating profit (loss)9901 | €1,352 | €3,236 | -€37,794 | €2,833 | ▲ 107% |
| Financial income75/76B | - | - | - | €0 | - |
| Recurring financial income75 | €247 | €947 | €433 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €2,285 | - |
| Recurring financial charges65 | €1,194 | €2,078 | €2,208 | €2,285 | ▲ 3.5% |
| Profit (loss) for the period before taxes9903 | €404 | €2,105 | -€39,569 | €548 | ▲ 101% |
| Income taxes67/77 | - | €561 | €606 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €404 | €1,544 | -€40,175 | €548 | ▲ 101% |
| Profit (loss) for the period to be appropriated9905 | €404 | €1,544 | -€40,175 | €548 | ▲ 101% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €122,467 | €116,713 | €102,365 | €110,328 | ▲ 7.8% |
| Fixed assets21/28 | €4,906 | €9,547 | €25,327 | €19,537 | ▼ 22.9% |
| Tangible fixed assets22/27 | €4,906 | €9,547 | €25,327 | €19,537 | ▼ 22.9% |
| Land and buildings22 | - | - | - | €1,597 | - |
| Plant, machinery and equipment23 | - | - | - | €5,114 | - |
| Furniture and vehicles24 | - | - | - | €12,825 | - |
| Current assets29/58 | €117,561 | €107,166 | €77,038 | €90,791 | ▲ 17.9% |
| Stocks and contracts in progress3 | €14,446 | €13,898 | €14,112 | €38,944 | ▲ 176% |
| Stocks30/36 | - | - | - | €14,604 | - |
| Contracts in progress37 | - | - | - | €24,340 | - |
| Amounts receivable within one year40/41 | €64,910 | €44,504 | €36,804 | €42,419 | ▲ 15.3% |
| Trade receivables40 | - | - | - | €38,473 | - |
| Other amounts receivable41 | - | - | - | €3,946 | - |
| Cash at bank and in hand54/58 | €9,419 | €23,788 | - | €3,725 | - |
| Deferred charges and accrued income490/1 | - | - | - | €5,703 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €122,467 | €116,713 | €102,365 | €110,328 | ▲ 7.8% |
| Equity10/15 | €52,307 | €53,851 | €13,676 | €14,224 | ▲ 4.0% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | - |
| Reserves13 | €33,707 | €35,251 | €35,251 | €35,251 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Distributable reserves133 | - | - | - | €33,391 | - |
| Profit (loss) carried forward14 | - | - | -€40,175 | -€39,627 | ▲ 1.4% |
| Amounts payable17/49 | €70,160 | €62,862 | €88,690 | €96,104 | ▲ 8.4% |
| Amounts payable after more than one year17 | - | - | €12,535 | €8,619 | ▼ 31.2% |
| Financial debts170/4 | - | - | - | €8,619 | - |
| Amounts payable within one year42/48 | €70,160 | €62,787 | €76,079 | €87,485 | ▲ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,916 | - |
| Financial debts43 | - | - | - | €30,000 | - |
| Credit institutions430/8 | - | - | - | €30,000 | - |
| Trade debts44 | €55,223 | €26,713 | €45,589 | €42,285 | ▼ 7.2% |
| Suppliers440/4 | - | - | - | €42,285 | - |
| Taxes, remuneration and social security45 | - | - | - | €11,284 | - |
| Taxes450/3 | - | - | - | €4,534 | - |
| Remuneration and social security454/9 | - | - | - | €6,750 | - |
| Other amounts payable47/48 | - | - | - | €0 | - |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €404 | €1,544 | -€40,175 | €548 | ▲ 101% |
| + Depreciation and write-downs630 | €5,937 | €2,802 | €6,148 | €6,846 | ▲ 11.4% |
| Operating cash flow (approximation) | €6,342 | €4,345 | -€34,027 | €7,393 | ▲ 122% |
| Investment in fixed assets (approximation) | - | -€7,442 | -€21,928 | -€1,055 | ▲ 95.2% |
| Change in cash | - | €14,369 | - | - | - |
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
2024
16-12
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 10-12-2024
2023
08-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 02-05-2023
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €548
Net result €548 after one loss-making year.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€40,175
Net result drops to -€40,175, the lowest in the series.
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 13 days late
2019
31-12
Financial
Highest result since 2018net €1,544 ▲282%
Operating result €3,236, net result €1,544, both a record.
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
26-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
08-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
16-07
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
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 | DELPHINE CLOET GUIDO GEZELLESTRAAT 10,
8790 WAREGEM |
02-05-2023 → 10-12-2024 |