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Odilon Creations Materials & Development

Active
Private limited company (pre-2019)· 20 yrs active
Vaartstraat(Kor) 130 ·8500 Kortrijk, Belgium
Open bankruptcy
KBO/BCE: BE 0878.299.960
Watch Print / PDF
Belgian State Gazette acts: 0 of 3 read
Age20 yrs
Real estate1 parcel · 1,775 m²

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for Odilon Creations Materials & Development according to publications in the Belgian State Gazette. The 2018 annual accounts show equity of €119k and a net result of €-42k.

Based on the State Gazette, CBE and 1 annual account.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Insolvency timeline

1 events
16-07-2021
Bankruptcy Opening
Date: 29-06-2021 · Ondernemingsrechtbank Gent, afdeling Kortrijk · ODILON CREATIONS MATE- RIALS & DEVELOPMENT BV VAARTSTRAAT(KOR) 130, 8500 KORT- RIJK · Publications in State Gazette ↗

Signals

Insufficient current data: the most recent filed accounts (financial year 2018) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Filed after the deadline
The financial year that closed on 31-12-2018 was due by 31-07-2019 and was filed on 28-10-2019, 89 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.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2018, that is 31-07-2019.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 nothing on record not filed -
31-12-2022 31-07-2023 nothing on record not filed -
31-12-2021 31-07-2022 nothing on record not filed -
31-12-2020 31-07-2021 nothing on record not filed -
31-12-2019 31-07-2020 nothing on record not filed -
31-12-2018 31-07-2019 28-10-2019 89 d late 2019-71700427
31-12-2017 31-07-2018 29-06-2018 32 d early 2018-26100523
31-12-2016 31-07-2017 19-09-2017 50 d late 2017-61600201
30-11-2015 30-06-2016 30-06-2016 on the day 2016-24100459
30-11-2014 30-06-2015 16-09-2015 78 d late 2015-58700014

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-42k
Working capital€115k
Directors1

Annual accounts & ratios

Source: NBB · 2018
Annual accounts filed on 28-10-2019 with the NBB · fiscal year 2018 · verkort
Fiscal year2018
Depositverkort
Revenue-
EBITDA€44k
Net profit€-42k
Cash flow€-36k
Staff costs-
Income taxes€11k
Dividends-
Total assets€500k
Equity€119k
Debt€376k
of which ≤ 1y€376k
of which > 1y-
Working capital€115k
Employees (FTE)-
Ratios (computed)
2018
Current ratio1.31
Quick ratio1.08
Working capital ratio23.0%
Solvency23.8%
Debt / equity-
Long-term debt ratio-
Interest coverage-
Gross margin-
Net margin-
ROA-8.3%
ROE-34.9%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2018
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2018
Balance sheet, Assets
TOTAL ASSETS 20/58€500k
Fixed assets 21/28€9k
Tangible fixed assets 22/27€7k
Financial fixed assets 28€2k
Current assets 29/58€491k
Stocks & contracts in progress 3€87k
Amounts receivable within one year 40/41€395k
Cash & bank 54/58€9k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€500k
Equity 10/15€119k
Contributions / capital 10/11€19k
Reserves 13€142k
Accumulated profits (losses) 14€-42k
Provisions & deferred taxes 16€5k
Amounts payable 17/49€376k
Amounts payable within one year 42/48€376k
Trade debts payable within one year 44€128k
Income statement
Gross operating margin 9900€50k
Operating result 9901€39k
Financial charges 65€3k
Result before taxes 9903€36k
Income taxes 67/77€11k
Net result for the period 9904€25k
Result to be appropriated 9905€25k
Ratios computed by Checked.

Health barometer

FY 2018 · computed
0 / 100 Critical
050100
Computed from 3 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2018 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Directors

Directors & mandates

Not yet read from the acts

3 acts for this company are in the Belgian State Gazette, of which we have read 0. This is therefore not a statement about the company: we have not extracted its directors from those acts yet.

Insolvency mandates

1 mandate
Role Name Tenure Source
Curator MARIAN RAPSAET
MINISTER TACKLAAN 51, 8500 KORTRIJK
 29-06-2021 → present Belgian State Gazette

Legal Structure

NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation30-12-2005
StatusActive
Postal code8500
First BS signal 16-07-2021
Latest BS signal 16-07-2021

Structure & network

Ownership & control

No ownership or control structure found in the sources.

For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.

1 court or liquidation mandate is on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Vaartstraat(Kor) 1308500 Kortrijk

Establishment units

1 location
Odilon Creations Materials & development
Vaartstraat(Kor) 130, 8500 KortrijkPlaatsen van behang
since 20062.151.435.056
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area1,775 m²
Buildings1
Building footprint670 m²
Volume (LiDAR)3,916 m³
Tallest building8.4 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34353B0085/00H031
ProtectedMonumentOpslagplaatsenSource ↗
 Flanders 1,775 m² 1 · 670 m² 8.4 m · 2 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Publications

Lifecycle & Insolvency Signals

1 event from the State Gazette
16-07-2021
Bankruptcy Opening
Date: 29-06-2021 · Ondernemingsrechtbank Gent, afdeling Kortrijk · ODILON CREATIONS MATE- RIALS & DEVELOPMENT BV VAARTSTRAAT(KOR) 130, 8500 KORT- RIJK · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262021-07-16 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgian State Gazette · acts

0 of 3 acts read

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.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

4 of 5 axes measured
Health0Profitability0Solvency51Growth-Stability0
13 / 100

Fragile profile, watch health in particular.

Computed on 4 of 5 axes. Not measured: growth. An unmeasured axis is not a zero: no data was read for it.

Health 0
Profitability 0
Solvency 51
Growth -
Stability 0

Credit advice

verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Company registry

Company registry (CBE)

Crossroads Bank
Names & trade names
Legal nameNL Odilon Creations Materials & Development
Registered office
Vaartstraat(Kor) 130
8500 Kortrijk, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.