ONAR-M
Open bankruptcyA bankruptcy procedure is open for ONAR-M according to publications in the Belgian State Gazette; curator: GEERT DEFREYNE.
Summary
The 2023 annual accounts show equity of €38,890 and a net result of €19,347.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Ghent division
- Declared bankrupt
- 16 December 2025
- Supervising judge
- Eddy De Grave
- Official Gazette
- 24-12-2025 (pdf) ↗search the document for 2025/153865
Curator
- Geert DefreyneKortrijksesteenweg 361, 9000 Gentgdf@defreyne-degryse.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help. Full guide for creditors
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 31-05-2024, 31 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 filed
2024
not filed
2023
31 d late
2022
1 d early
2021
12 d late
2020
67 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox or domiciliation address?Address check Are there other customers at risk in your own list?Debtor check How is the Site preparation sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Equity
€38,890▲ 99.0%
2022 · €19,543
Total assets
€68,798▲ 36.7%
2022 · €50,339
Net result
€19,347▲ 934%
2022 · €1,871
Working capital
€33,340▲ 203%
2022 · €11,012
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
Line2020202120222023
Operating result€5,758-€2,404▼ 58.3%€2,618▲ 8.9%€28,215▲ 978%
Net result€3,219-€2,053▼ 36.2%€1,871▼ 8.9%€19,347▲ 934%
Equity€15,619-€17,672▲ 13.1%€19,543▲ 10.6%€38,890▲ 99.0%
Total assets€36,555-€49,428▲ 35.2%€50,339▲ 1.8%€68,798▲ 36.7%
Debt€20,936-€31,756▲ 51.7%€30,795▼ 3.0%€29,908▼ 2.9%
Working capital€4,594-€6,526▲ 42.1%€11,012▲ 68.7%€33,340▲ 203%
Staff (FTE)0.80.7▼ 12.5%1.3▲ 85.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed two years in a row; 2023 is 978% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €68,798
Fixed assets
€6,050 ▼ 29.1%
Current assets
€62,748 ▲ 50.1%
Equity and liabilities €68,798
Equity
€38,890 ▲ 99.0%
Debt
€29,908 ▼ 2.9%
Debt's share of the balance-sheet total falls from 61.2% to 43.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€30,696▲
2022 · €5,232
Cash flow
€21,828▲
2022 · €4,486
Current ratio
2.13▲
2022 · 1.36
Debt to equity
0.77▼
2022 · 1.58
ROE
49.7%▲
2022 · 9.6%
ROA
28.1%▲
2022 · 3.7%
Interest coverage
27.69▲
2022 · 7.44
Debt ≤ 1 year
€29,408▼
2022 · €30,795
Income taxes
€8,100▲
2022 · €46
Staff costs
€41,385▲
2022 · €12,569
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €14,520 | €12,569 | €41,385 | ▲ 229% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,953 | €1,660 | €2,614 | €2,481 | ▼ 5.1% |
| Other operating charges640/8 | - | €10,648 | €2,724 | €1,173 | ▼ 56.9% |
| Gross operating margin9900 | €13,887 | €29,231 | €20,525 | €73,255 | ▲ 257% |
| Operating profit (loss)9901 | €5,758 | €2,404 | €2,618 | €28,215 | ▲ 978% |
| Financial income75/76B | - | €4 | €3 | €340 | ▲ 12,280% |
| Recurring financial income75 | €8 | €4 | €3 | €340 | ▲ 12,280% |
| Financial charges65/66B | - | €354 | €703 | €1,108 | ▲ 57.6% |
| Recurring financial charges65 | €1,091 | €354 | €703 | €1,108 | ▲ 57.6% |
| Profit (loss) for the period before taxes9903 | €4,675 | €2,053 | €1,917 | €27,447 | ▲ 1,332% |
| Income taxes67/77 | €1,456 | - | €46 | €8,100 | ▲ 17,539% |
| Profit (loss) for the period9904 | €3,219 | €2,053 | €1,871 | €19,347 | ▲ 934% |
| Profit (loss) for the period to be appropriated9905 | €3,219 | €2,053 | €1,871 | €19,347 | ▲ 934% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €36,555 | €49,428 | €50,339 | €68,798 | ▲ 36.7% |
| Fixed assets21/28 | €11,024 | €11,146 | €8,531 | €6,050 | ▼ 29.1% |
| Tangible fixed assets22/27 | €11,024 | €11,146 | €8,531 | €6,050 | ▼ 29.1% |
| Furniture and vehicles24 | - | €11,146 | €8,531 | €6,050 | ▼ 29.1% |
| Current assets29/58 | €25,530 | €38,282 | €41,807 | €62,748 | ▲ 50.1% |
| Amounts receivable within one year40/41 | €17,181 | €26,511 | €36,659 | €60,566 | ▲ 65.2% |
| Trade receivables40 | - | €26,511 | €35,976 | €39,494 | ▲ 9.8% |
| Other amounts receivable41 | - | - | €684 | €21,073 | ▲ 2,983% |
| Cash at bank and in hand54/58 | €8,350 | €11,771 | €5,148 | €203 | ▼ 96.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,979 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €36,555 | €49,428 | €50,339 | €68,798 | ▲ 36.7% |
| Equity10/15 | €15,619 | €17,672 | €19,543 | €38,890 | ▲ 99.0% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €3,219 | €3,219 | €3,219 | €22,219 | ▲ 590% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €1,359 | €1,359 | €20,359 | ▲ 1,398% |
| Profit (loss) carried forward14 | - | €2,053 | €3,925 | €4,272 | ▲ 8.8% |
| Amounts payable17/49 | €20,936 | €31,756 | €30,795 | €29,908 | ▼ 2.9% |
| Amounts payable within one year42/48 | €20,936 | €31,756 | €30,795 | €29,408 | ▼ 4.5% |
| Trade debts44 | €1,957 | €15,413 | €14,711 | €14,587 | ▼ 0.8% |
| Suppliers440/4 | - | €15,413 | €14,711 | €14,587 | ▼ 0.8% |
| Taxes, remuneration and social security45 | - | €3,371 | €4,687 | €14,821 | ▲ 216% |
| Taxes450/3 | - | €2,335 | - | €9,158 | - |
| Remuneration and social security454/9 | - | €1,036 | €4,687 | €5,663 | ▲ 20.8% |
| Other amounts payable47/48 | - | €12,972 | €11,398 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €500 | - |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,219 | €2,053 | €1,871 | €19,347 | ▲ 934% |
| + Depreciation and write-downs630 | €4,953 | €1,660 | €2,614 | €2,481 | ▼ 5.1% |
| Operating cash flow (approximation) | €8,172 | €3,713 | €4,486 | €21,828 | ▲ 387% |
| Investment in fixed assets (approximation) | - | -€1,781 | €0 | €0 | - |
| Change in cash | - | €3,421 | -€6,623 | -€4,945 | ▲ 25.3% |
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
2025
24-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 16-12-2025
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
30-09
Financial
Highest result since 2020net €19,347 ▲934%
Operating result €28,215, net result €19,347, both a record.
29-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €1,871 ▼8.9%
Net result drops to €1,871, the lowest in the series.
12-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 12 days late
2021
22-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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
Registered office, Gent · 1 establishment unit since 2019
Ground area
1,296 m²
Building footprint
1,121 m²
Volume, LiDAR
10,616 m³
Parcel 44038A0746/00H005, Flanders · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
ONAR-M
since 20192.287.472.509
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44038A0746/00H005 | Flanders | 1,296 m² | 1 · 1,121 m² | 14.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | GEERT DEFREYNE KORTRIJKSESTEENWEG 361,
9000 GENT |
16-12-2025 → present |
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Of 8,462 companies in sector 43120 we hold annual accounts for 3,231. 2,382 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-04-2019
Fiscal year end30-09
Activities, NACEBEL 2025
43120Site preparation
42110Construction of roads and motorways
53200Other postal and courier activities
Scores and ratios are computed by Checked and are not a credit decision.