OTIS RR
InactiveSignals
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 31-12-2023, 3 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 · 8 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline01-10-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 29-09-2023, 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 · 8 filingsDeviation from the deadline
2022
60 d late
2021
44 d early
2020
28 d late
2019
16 d late
2018
6 d late
2017
45 d late
2016
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 11 days after the deadline; the Belgian median for financial year 2022 is 3 days before the deadline, and 42% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2022, micro schema
Equity
€6,405▲ 341%
2021 · €1,451
Total assets
€27,135▼ 37.0%
2021 · €43,088
Net result
-€7,446
2021 · €11,315
Working capital
€8,088▼ 37.1%
2021 · €12,863
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result-€1,432--€8,670▼ 505%-€27,608▼ 218%€11,647-€6,900
Net result-€1,931--€8,981▼ 365%-€27,694▼ 208%€11,315-€7,446
Equity€26,811-€17,830▼ 33.5%-€9,864€1,451€6,405▲ 341%
Total assets€41,674-€33,012▼ 20.8%€36,099▲ 9.4%€43,088▲ 19.4%€27,135▼ 37.0%
Debt€14,863-€15,181▲ 2.1%€45,962▲ 203%€41,637▼ 9.4%€20,730▼ 50.2%
Working capital€9,426-€3,507▼ 62.8%-€19,079€12,863€8,088▼ 37.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €6,900 after €11,647 in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €27,135
Fixed assets
€11,100 ▼ 16.5%
Current assets
€16,036 ▼ 46.2%
Equity and liabilities €27,135
Equity
€6,405 ▲ 341%
Debt
€20,730 ▼ 50.2%
Debt's share of the balance-sheet total falls from 96.6% to 76.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€4,982▼
2021 · €13,648
Cash flow
-€5,528▼
2021 · €13,315
Current ratio
2.02▲
2021 · 1.76
Quick ratio
1.77▲
2021 · 1.76
Debt to equity
3.24▼
2021 · 28.70
ROE
-116.2%▼
2021 · 779.8%
ROA
-27.4%▼
2021 · 26.3%
Interest coverage
-9.13▼
2021 · 41.03
Debt ≤ 1 year
€7,948▼
2021 · €16,931
Debt > 1 year
€3,805▼
2021 · €24,622
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 | 2022 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,279 | €4,663 | €3,116 | €2,000 | €1,918 | ▼ 4.1% |
| Other operating charges640/8 | - | - | - | €1,568 | €2,430 | ▲ 54.9% |
| Gross operating margin9900 | €4,748 | -€2,479 | -€16,936 | €15,216 | -€2,552 | ▼ 117% |
| Operating profit (loss)9901 | -€1,432 | -€8,670 | -€27,608 | €11,647 | -€6,900 | ▼ 159% |
| Recurring financial income75 | €70 | €5 | €11 | - | - | - |
| Financial charges65/66B | - | - | - | €333 | €546 | ▲ 64.0% |
| Recurring financial charges65 | €568 | €316 | €97 | €333 | €546 | ▲ 64.0% |
| Profit (loss) for the period before taxes9903 | -€1,931 | -€8,981 | -€27,694 | €11,315 | -€7,446 | ▼ 166% |
| Profit (loss) for the period9904 | -€1,931 | -€8,981 | -€27,694 | €11,315 | -€7,446 | ▼ 166% |
| Profit (loss) for the period to be appropriated9905 | -€1,931 | -€8,981 | -€27,694 | €11,315 | -€7,446 | ▼ 166% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €41,674 | €33,012 | €36,099 | €43,088 | €27,135 | ▼ 37.0% |
| Fixed assets21/28 | €21,398 | €18,801 | €15,305 | €13,293 | €11,100 | ▼ 16.5% |
| Tangible fixed assets22/27 | €14,447 | €12,784 | €9,668 | €7,667 | €5,749 | ▼ 25.0% |
| Land and buildings22 | - | - | - | €7,667 | €5,749 | ▼ 25.0% |
| Financial fixed assets28 | €6,951 | €6,018 | €5,637 | €5,626 | €5,350 | ▼ 4.9% |
| Current assets29/58 | €20,276 | €14,210 | €20,794 | €29,794 | €16,036 | ▼ 46.2% |
| Stocks and contracts in progress3 | €5,553 | €1,747 | - | - | €1,946 | - |
| Stocks30/36 | - | - | - | - | €1,946 | - |
| Amounts receivable within one year40/41 | €1,204 | €934 | €1,911 | €6,322 | - | - |
| Other amounts receivable41 | - | - | - | €6,322 | - | - |
| Cash at bank and in hand54/58 | €12,533 | €10,542 | €18,865 | €23,472 | €14,071 | ▼ 40.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €19 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €41,674 | €33,012 | €36,099 | €43,088 | €27,135 | ▼ 37.0% |
| Equity10/15 | €26,811 | €17,830 | -€9,864 | €1,451 | €6,405 | ▲ 341% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €18,600 | ▲ 200% |
| Reserves13 | €14,860 | €14,860 | €14,860 | €14,860 | €14,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €13,000 | €13,000 | = |
| Profit (loss) carried forward14 | €5,751 | -€3,230 | -€30,924 | -€19,609 | -€27,055 | ▼ 38.0% |
| Amounts payable17/49 | €14,863 | €15,181 | €45,962 | €41,637 | €20,730 | ▼ 50.2% |
| Amounts payable after more than one year17 | €3,338 | €3,545 | €6,080 | €24,622 | €3,805 | ▼ 84.5% |
| Financial debts170/4 | - | - | - | €24,622 | €3,805 | ▼ 84.5% |
| Amounts payable within one year42/48 | €10,850 | €10,703 | €39,873 | €16,931 | €7,948 | ▼ 53.1% |
| Trade debts44 | €4,943 | €8,332 | €8,029 | €14,170 | €7,050 | ▼ 50.2% |
| Suppliers440/4 | - | - | - | €14,170 | €7,050 | ▼ 50.2% |
| Taxes, remuneration and social security45 | - | - | - | €2,761 | €898 | ▼ 67.5% |
| Taxes450/3 | - | - | - | €2,761 | €898 | ▼ 67.5% |
| Accrued charges and deferred income492/3 | - | - | - | €83 | €8,977 | ▲ 10,694% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,931 | -€8,981 | -€27,694 | €11,315 | -€7,446 | ▼ 166% |
| + Depreciation and write-downs630 | €4,279 | €4,663 | €3,116 | €2,000 | €1,918 | ▼ 4.1% |
| Operating cash flow (approximation) | €2,348 | -€4,318 | -€24,578 | €13,315 | -€5,528 | ▼ 142% |
| Investment in fixed assets (approximation) | - | -€2,066 | €380 | €11 | €276 | ▲ 2,400% |
| Change in cash | - | -€1,991 | €8,323 | €4,607 | -€9,401 | ▼ 304% |
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
02-06
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 27-05-2025
2024
29-07
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 23-07-2024
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €11,315
Net result €11,315 after 3 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.76
Current ratio from 0.52 to 1.76; short-term debt falls from €39,873 to €16,931.
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
31-12
Financial
Weakest financial yearnet -€27,694
Net result drops to -€27,694, the lowest in the series.
16-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 16 days late
2019
06-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 6 days late
2018
14-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 45 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
07-07
NBB filing
Annual accounts filed
fiscal year 2015 · 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.
Have them read with priority
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Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | WIM DE SCHUYMER Heerweg-Zuid 2/001, 9052 Zwijnaarde |
23-07-2024 → 27-05-2025 |