OTEC
Open bankruptcyA bankruptcy procedure is open for OTEC according to publications in the Belgian State Gazette; curator: NICK PEETERS.
Summary
The 2021 annual accounts show equity of €126k and a net result of €10k.
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 31-12-2021 was due by 31-07-2022 and was filed on 10-10-2022, 71 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
71 d late
2020
99 d early
2019
15 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, abbreviated schema
Equity
€126k▲ 8.4%
2020 · €117k
2018: €77k
2019: €165k
2020: €117k
2018 → 2021
Total assets
€949k▼ 21.4%
2020 · €1.21M
2018: €930k
2019: €874k
2020: €1.21M
2018 → 2021
Net result
€10k▼ 94.4%
2020 · €176k
2018: €-77k
2019: €88k
2020: €176k
2018 → 2021
Working capital
€4k
2020 · €-3k
2018: €-18k
2019: €69k
2020: €-3k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€77k-€165k▲ 114%€117k▼ 29.2%€126k▲ 8.4%
Operating result€-136k-€60k€234k▲ 289%€10k▼ 95.7%
Net result€-77k-€88k€176k▲ 100%€10k▼ 94.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2021; 2021 is 96% below 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €949k
Fixed assets
€181k ▼ 14.5%
Current assets
€768k ▼ 22.9%
Equity and liabilities €949k
Equity
€126k ▲ 8.4%
Debt
€822k ▼ 24.6%
Debt's share of the balance-sheet total falls from 90.3% to 86.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44k▼
2020 · €263k
Cash flow
€44k▼
2020 · €205k
Current ratio
1.00▲
2020 · 1.00
Quick ratio
0.68▼
2020 · 0.76
Debt to equity
6.50▲
2020 · 0.79
ROE
7.7%▼
2020 · 150.5%
ROA
1.0%▼
2020 · 14.5%
Interest coverage
1.83
Debt ≤ 1 year
€764k▼
2020 · €999k
Debt > 1 year
€58k▼
2020 · €92k
Income taxes
€6k▼
2020 · €62k
Staff costs
€357k
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 · 60 lines
Balance sheet
Code20202021
Assets
Total assets20/58€1.21M€949k▼
Fixed assets21/28€212k€181k▼
Tangible fixed assets22/27€212k€181k▼
Land and buildings22-€117k
Plant, machinery and equipment23-€4k
Furniture and vehicles24-€60k
Current assets29/58€997k€768k▼
Stocks and contracts in progress3€240k€250k▲
Stocks30/36-€250k
Amounts receivable within one year40/41€592k€490k▼
Trade receivables40-€374k
Other amounts receivable41-€117k
Cash at bank and in hand54/58€158k€27k▼
Deferred charges and accrued income490/1-€1k
Equity and liabilities
Total equity and liabilities10/49€1.21M€949k▼
Equity10/15€117k€126k▲
Contributions10/11-€100k
Reserves13€17k€26k▲
Non-distributable reserves130/1-€10k
Reserves not available under the articles1311-€10k
Tax-exempt reserves132-€7k
Distributable reserves133-€10k
Profit (loss) carried forward14-€0
Amounts payable17/49€1.09M€822k▼
Amounts payable after more than one year17€92k€58k▼
Financial debts170/4-€58k
Amounts payable within one year42/48€999k€764k▼
Current portion of amounts payable after more than one year42-€34k
Financial debts43-€252k
Credit institutions430/8-€252k
Trade debts44€206k€209k▲
Suppliers440/4-€209k
Advances received on contracts in progress46-€198k
Taxes, remuneration and social security45-€70k
Taxes450/3-€55k
Remuneration and social security454/9-€15k
Other amounts payable47/48-€0
Income statement
Code20202021
Non-recurring operating income76A-€0
Remuneration, social security and pensions62-€357k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€34k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€145
Other operating charges640/8-€6k
Non-recurring operating charges66A-€602
Gross operating margin9900€672k€408k▼
Operating profit (loss)9901€234k€10k▼
Financial income75/76B-€30k
Recurring financial income75€21k€30k▲
Financial charges65/66B-€24k
Recurring financial charges65€18k€24k▲
Profit (loss) for the period before taxes9903€237k€16k▼
Income taxes67/77€62k€6k▼
Profit (loss) for the period9904€176k€10k▼
Profit (loss) for the period to be appropriated9905€176k€10k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€10k
Transfer from equity791/2-€0
Transfer to equity691/2-€10k
To other reserves6921-€10k
Profit to be distributed694/7-€0
Return on contributions (dividend)694€224k€0▼
Social balance
Average headcount (FTE)9087-5.7
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2023
29-03
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · OTEC BV BEGONIA- STRAAT 2/F/G, 9810 NAZARETH · event 23-03-2023
2022
10-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 71 days late
2021
23-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €176k ▲100%
Operating result €234k, net result €176k, both a record.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €88k
Net result €88k after one loss-making year.
31-12
Financial
Equity above €150kEq €165k ▲114%
Equity rises from €77k to €165k.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
23-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2013
12-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2012
29-10
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Nazareth · 1 establishment unit since 1975
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.
Begoniastraat 29810 NazarethGround area
6,180 m²
Building footprint
2,541 m²
Volume, LiDAR
8,587 m³
2 parcels, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
OTEC
since 19752.011.100.604
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44018A0057/00L002 | Flanders | 4,604 m² | 1 · 2,368 m² | 7.6 m · 2 fl. |
| 44017D1426/00F000 | Flanders | 1,576 m² | 1 · 173 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 | NICK PEETERS LEIEKAAI 25, 9000 GENT- |
23-03-2023 → present |
Similar companies · same sector, comparable size
Petrus Van de Ven en Zonen
BE 0400.782.125
Puurs-Sint-Amands · Eq €126,377
ABALAG
BE 0730.954.386
Braives · Eq €126,246
db - c
BE 0817.088.111
Essen · Eq €126,708
BESTRATINGSWERKEN VAN DOOREN
BE 0472.301.710
Oud-Turnhout · Eq €125,912
Blaise DOR
BE 0739.973.606
Burdinne · Eq €127,338
Of 2,327 companies in sector 42110 we hold annual accounts for 1,097. 754 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded01-04-1975
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
43222Installation of electric heating, air conditioning, cooling and ventilation
43990Other specialised construction activities
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 44 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.