PADDINGTON
InactivePADDINGTON was declared bankrupt on 18-12-2023 (Ondernemingsrechtbank Antwerpen, afdeling Mechelen); the bankruptcy was closed for insufficient assets by judgment of 01-07-2024, published in the Belgian State Gazette on 05-07-2024.
Summary
Inactive; last annual accounts for fiscal year 2022.
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 31-12-2023, 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 31-08-2023, 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 · 8 filingsDeviation from the deadline
2022
31 d late
2021
211 d late
2020
334 d late
2019
121 d late
2018
23 d late
2017
27 d late
2016
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 102 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
-€8,826▲ 19.1%
2021 · -€10,911
Total assets
€41,724▲ 5.6%
2021 · €39,516
Net result
€2,084
2021 · -€1,580
Working capital
-€6,362▼ 103%
2021 · -€3,137
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
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€14,117--€11,731-€7,737▲ 34.0%€2,342€6,648▲ 184%
Net result€8,041--€16,320-€18,721▼ 14.7%-€1,580▲ 91.6%€2,084
Equity€25,710-€9,390▼ 63.5%-€9,331-€10,911▼ 16.9%-€8,826▲ 19.1%
Total assets€97,240-€83,021▼ 14.6%€62,269▼ 25.0%€39,516▼ 36.5%€41,724▲ 5.6%
Debt€71,529-€73,631▲ 2.9%€71,600▼ 2.8%€50,427▼ 29.6%€50,550▲ 0.2%
Working capital€22,605-€23,543▲ 4.1%€18,592▼ 21.0%-€3,137-€6,362▼ 103%
Staff (FTE)1.3-2.4▲ 84.6%0.5▼ 79.2%0.9▲ 80.0%0.5▼ 44.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2019 the operating result has climbed three years in a row; 2022 is 184% above 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €41,724
Fixed assets
€3,000 ▼ 11.0%
Current assets
€38,724 ▲ 7.1%
Equity and liabilities
Equity-€8,826
Debt€50,550
Equity is negative: debt (€50,550) exceeds the balance-sheet total (€41,724).
Key figures and ratios
EBITDA
€7,018▲
2021 · €3,903
Cash flow
€2,455▲
2021 · -€19
Solvency
-21.2%▲
2021 · -27.6%
Current ratio
0.86▼
2021 · 0.92
Quick ratio
0.81▲
2021 · 0.66
ROA
5.0%▲
2021 · -4.0%
Interest coverage
1.54▲
2021 · 0.94
Debt ≤ 1 year
€45,086▲
2021 · €39,283
Debt > 1 year
€5,464▼
2021 · €11,144
Staff costs
€10,707▼
2021 · €14,498
No debt to equity: equity is negative, so debt divided by equity means nothing.
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €20,000 | €14,498 | €10,707 | ▼ 26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,744 | €8,496 | €2,258 | €1,561 | €371 | ▼ 76.3% |
| Other operating charges640/8 | - | - | €4,604 | €1,459 | €10,450 | ▲ 616% |
| Non-recurring operating charges66A | - | - | €51,011 | - | - | - |
| Gross operating margin9900 | €80,083 | €112,226 | €70,136 | €19,859 | €28,176 | ▲ 41.9% |
| Operating profit (loss)9901 | €14,117 | -€11,731 | -€7,737 | €2,342 | €6,648 | ▲ 184% |
| Financial income75/76B | - | - | €16 | €217 | - | - |
| Recurring financial income75 | €28 | €308 | €16 | €217 | - | - |
| Financial charges65/66B | - | - | €11,001 | €4,139 | €4,564 | ▲ 10.2% |
| Recurring financial charges65 | €4,604 | €4,392 | €11,001 | €4,139 | €4,564 | ▲ 10.2% |
| Profit (loss) for the period before taxes9903 | €9,541 | -€15,815 | -€18,721 | -€1,580 | €2,084 | ▲ 232% |
| Income taxes67/77 | €1,500 | €505 | - | - | - | - |
| Profit (loss) for the period9904 | €8,041 | -€16,320 | -€18,721 | -€1,580 | €2,084 | ▲ 232% |
| Profit (loss) for the period to be appropriated9905 | €8,041 | -€16,320 | -€18,721 | -€1,580 | €2,084 | ▲ 232% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €97,240 | €83,021 | €62,269 | €39,516 | €41,724 | ▲ 5.6% |
| Fixed assets21/28 | €15,686 | €7,189 | €4,932 | €3,371 | €3,000 | ▼ 11.0% |
| Intangible fixed assets21 | €3,750 | - | - | €371 | - | - |
| Tangible fixed assets22/27 | €8,936 | €4,189 | €1,932 | - | - | - |
| Plant, machinery and equipment23 | - | - | €741 | - | - | - |
| Other tangible fixed assets26 | - | - | €1,190 | - | - | - |
| Financial fixed assets28 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Current assets29/58 | €81,554 | €75,832 | €57,338 | €36,146 | €38,724 | ▲ 7.1% |
| Stocks and contracts in progress3 | €20,250 | €23,425 | €17,400 | €10,300 | €2,400 | ▼ 76.7% |
| Stocks30/36 | - | - | €17,400 | €10,300 | €2,400 | ▼ 76.7% |
| Amounts receivable within one year40/41 | €10,622 | €8,358 | €4,415 | €14,278 | €7,693 | ▼ 46.1% |
| Trade receivables40 | - | - | - | - | €3,278 | - |
| Other amounts receivable41 | - | - | €4,415 | €14,278 | €4,415 | ▼ 69.1% |
| Cash at bank and in hand54/58 | €48,694 | €42,604 | €35,523 | €11,568 | €28,631 | ▲ 148% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €97,240 | €83,021 | €62,269 | €39,516 | €41,724 | ▲ 5.6% |
| Equity10/15 | €25,710 | €9,390 | -€9,331 | -€10,911 | -€8,826 | ▲ 19.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €5,250 | -€11,070 | -€29,791 | -€31,371 | -€29,286 | ▲ 6.6% |
| Amounts payable17/49 | €71,529 | €73,631 | €71,600 | €50,427 | €50,550 | ▲ 0.2% |
| Amounts payable after more than one year17 | €10,000 | - | €16,054 | €11,144 | €5,464 | ▼ 51.0% |
| Financial debts170/4 | - | - | €16,054 | €11,144 | €5,464 | ▼ 51.0% |
| Amounts payable within one year42/48 | €58,949 | €52,290 | €38,746 | €39,283 | €45,086 | ▲ 14.8% |
| Current portion of amounts payable after more than one year42 | - | - | €4,761 | €4,719 | €5,716 | ▲ 21.1% |
| Financial debts43 | - | - | - | €17,145 | €5,736 | ▼ 66.5% |
| Credit institutions430/8 | - | - | - | €17,145 | €5,736 | ▼ 66.5% |
| Trade debts44 | €35,442 | €16,154 | €20,573 | €13,194 | €21,231 | ▲ 60.9% |
| Suppliers440/4 | - | - | €20,573 | €13,194 | €21,231 | ▲ 60.9% |
| Advances received on contracts in progress46 | - | - | - | €255 | - | - |
| Taxes, remuneration and social security45 | - | - | €12,174 | €3,969 | €12,398 | ▲ 212% |
| Taxes450/3 | - | - | €9,169 | €1,550 | €11,575 | ▲ 647% |
| Remuneration and social security454/9 | - | - | €3,005 | €2,419 | €823 | ▼ 66.0% |
| Other amounts payable47/48 | - | - | €1,239 | - | €5 | - |
| Accrued charges and deferred income492/3 | - | - | €16,800 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,041 | -€16,320 | -€18,721 | -€1,580 | €2,084 | ▲ 232% |
| + Depreciation and write-downs630 | €9,744 | €8,496 | €2,258 | €1,561 | €371 | ▼ 76.3% |
| Operating cash flow (approximation) | €17,785 | -€7,823 | -€16,463 | -€19 | €2,455 | ▲ 13,021% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€6,089 | -€7,082 | -€23,955 | €17,063 | ▲ 171% |
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
05-07
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Mechelen · event 01-07-2024
2023
22-12
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Mechelen · event 18-12-2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
27-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 211 days late
2022
31-12
Financial
Back to profitnet €2,084
Net result €2,084 after 3 loss-making years.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 334 days late
2020
31-12
Financial
Weakest financial yearnet -€18,721
Net result drops to -€18,721, the lowest in the series.
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 121 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
27-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 27 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | JAN BERGMANS Boonhof 24, 2890. Puurs-Sint- Amands |
18-12-2023 → 01-07-2024 |