PADEGO
Open bankruptcyA bankruptcy procedure is open for PADEGO according to publications in the Belgian State Gazette; curator: PHILIP GHEKIERE.
Summary
The 2024 annual accounts show negative equity (-€58,888) and a net result of €10,674.
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, Kortrijk division
- Declared bankrupt
- 18 November 2025
- Supervising judge
- Pieter De Smet
- Official Gazette
- 26-11-2025 (pdf) ↗search the document for 2025/148835
Deadlines
- Provisional date payments stopped
- 18 November 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 11 December 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 18 December 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 6 January 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 18 November 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Philip GhekiereKoning Albertstraat 24 Bus 1, 8500 Kortrijkphilip@lvda.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.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
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.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 18940 sector peers (2024).
NBB · sector comparisonPosition among 18940 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
26 d late
2023
9 d late
2022
29 d late
2021
9 d late
2020
3 d early
2019
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 16 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
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 Are there other customers at risk in your own list?List enrichment How is the Full-service restaurants sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
-€58,888▲ 15.3%
2023 · -€69,562
Total assets
€341,315▲ 1.9%
2023 · €335,058
Net result
€10,674
2023 · -€114,297
Working capital
-€61,888▲ 15.4%
2023 · -€73,161
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€89,531▼ 29.5%€176,842▲ 97.5%€38,153▼ 78.4%-€31,296€65,269
Net result€50,565above the sector's middle half▼ 47.6%€146,227above the sector's middle half▲ 189%€24,275within the sector's middle half▼ 83.4%-€114,297below the sector's middle half€10,674within the sector's middle half
Equity€265,420above the sector's middle half▲ 23.5%€20,460within the sector's middle half▼ 92.3%€44,735within the sector's middle half▲ 119%-€69,562below the sector's middle half-€58,888below the sector's middle half▲ 15.3%
Total assets€491,455within the sector's middle half▼ 7.1%€160,610below the sector's middle half▼ 67.3%€338,117within the sector's middle half▲ 111%€335,058above the sector's middle half▼ 0.9%€341,315above the sector's middle half▲ 1.9%
Debt€226,035▼ 28.1%€140,150▼ 38.0%€293,381▲ 109%€404,620▲ 37.9%€400,203▼ 1.1%
Working capital€277,550above the sector's middle half▲ 18.7%€13,695within the sector's middle half▼ 95.1%€39,553within the sector's middle half▲ 189%-€73,161below the sector's middle half-€61,888below the sector's middle half▲ 15.4%
Solvency54.0%above the sector's middle half▲ 13.4pp12.7%within the sector's middle half▼ 41.3pp13.2%within the sector's middle half▲ 0.5pp-20.8%below the sector's middle half▼ 34.0pp-17.3%below the sector's middle half▲ 3.5pp
Current ratio2.33above the sector's middle half▲ 0.471.10within the sector's middle half▼ 1.231.13within the sector's middle half▲ 0.040.82within the sector's middle half▼ 0.320.85within the sector's middle half▲ 0.03
Return on assets (ROA)10.3%above the sector's middle half▼ 8.0pp91.0%above the sector's middle half▲ 80.8pp7.2%within the sector's middle half▼ 83.9pp-34.1%below the sector's middle half▼ 41.3pp3.1%within the sector's middle half▲ 37.2pp
Staff (FTE)6.9within the sector's middle half▼ 11.5%5.4within the sector's middle half▼ 21.7%6.3within the sector's middle half▲ 16.7%7.6▲ 20.6%6.9▼ 9.2%
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €65,269 after a loss of €31,296 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €341,315
Fixed assets
€3,000 ▼ 16.6%
Current assets
€338,315 ▲ 2.1%
Key figures and ratios
EBITDA
€65,868▲
2023 · -€29,712
Cash flow
€11,273▲
2023 · -€112,714
Quick ratio
0.77▲
2023 · 0.74
Debt to equity
-6.80▼
2023 · -5.82
Interest coverage
1.25▲
2023 · -0.74
Debt ≤ 1 year
€400,203▼
2023 · €404,620
Income taxes
€2,007▼
2023 · €42,829
Staff costs
€373,147▼
2023 · €399,103
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 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €88,866 | €253,229 | €399,103 | €373,147 | ▼ 6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,015 | €2,631 | €1,583 | €1,583 | €599 | ▼ 62.2% |
| Other operating charges640/8 | - | €11,716 | €13,777 | €17,619 | €10,880 | ▼ 38.2% |
| Gross operating margin9900 | €249,738 | €280,054 | €306,743 | €387,009 | €449,894 | ▲ 16.2% |
| Operating profit (loss)9901 | €89,531 | €176,842 | €38,153 | -€31,296 | €65,269 | ▲ 309% |
| Financial income75/76B | - | €188 | - | - | - | - |
| Recurring financial income75 | - | €188 | - | - | - | - |
| Financial charges65/66B | - | €13,476 | €13,877 | €40,173 | €52,588 | ▲ 30.9% |
| Recurring financial charges65 | €9,782 | €13,476 | €13,877 | €40,173 | €52,588 | ▲ 30.9% |
| Profit (loss) for the period before taxes9903 | €79,750 | €163,553 | €24,275 | -€71,468 | €12,681 | ▲ 118% |
| Income taxes67/77 | €29,184 | €17,326 | - | €42,829 | €2,007 | ▼ 95.3% |
| Profit (loss) for the period9904 | €50,565 | €146,227 | €24,275 | -€114,297 | €10,674 | ▲ 109% |
| Profit (loss) for the period to be appropriated9905 | €50,565 | €146,227 | €24,275 | -€114,297 | €10,674 | ▲ 109% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €491,455 | €160,610 | €338,117 | €335,058 | €341,315 | ▲ 1.9% |
| Fixed assets21/28 | €4,646 | €6,765 | €5,182 | €3,599 | €3,000 | ▼ 16.6% |
| Tangible fixed assets22/27 | €1,646 | €3,765 | €2,182 | €599 | - | - |
| Plant, machinery and equipment23 | - | €3,765 | €2,182 | €599 | - | - |
| Financial fixed assets28 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Current assets29/58 | €486,809 | €153,845 | €332,935 | €331,459 | €338,315 | ▲ 2.1% |
| Amounts receivable after more than one year29 | - | - | - | €291,206 | €291,206 | = |
| Other amounts receivable291 | - | - | - | €291,206 | €291,206 | = |
| Stocks and contracts in progress3 | €2,468 | €11,669 | €30,154 | €30,654 | €31,379 | ▲ 2.4% |
| Stocks30/36 | - | €11,669 | €30,154 | €30,654 | €31,379 | ▲ 2.4% |
| Amounts receivable within one year40/41 | €484,341 | €142,173 | €299,484 | €4,526 | €3,606 | ▼ 20.3% |
| Trade receivables40 | - | €2,787 | €1,829 | €4,526 | €447 | ▼ 90.1% |
| Other amounts receivable41 | - | €139,386 | €297,655 | - | €3,159 | - |
| Cash at bank and in hand54/58 | - | €3 | €3,297 | €5,073 | €12,124 | ▲ 139% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €491,455 | €160,610 | €338,117 | €335,058 | €341,315 | ▲ 1.9% |
| Equity10/15 | €265,420 | €20,460 | €44,735 | -€69,562 | -€58,888 | ▲ 15.3% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Capital10 | - | €18,600 | €18,600 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Outside capital11 | - | - | - | €20,460 | €20,460 | = |
| Other1109/19 | - | - | - | €20,460 | €20,460 | = |
| Reserves13 | €259,220 | €1,860 | €26,135 | - | - | - |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | €24,275 | - | - | - |
| Profit (loss) carried forward14 | - | - | - | -€90,022 | -€79,348 | ▲ 11.9% |
| Amounts payable17/49 | €226,035 | €140,150 | €293,381 | €404,620 | €400,203 | ▼ 1.1% |
| Amounts payable after more than one year17 | €15,653 | - | - | - | - | - |
| Amounts payable within one year42/48 | €209,259 | €140,150 | €293,381 | €404,620 | €400,203 | ▼ 1.1% |
| Current portion of amounts payable after more than one year42 | - | €15,653 | - | - | - | - |
| Trade debts44 | €180,121 | €118,066 | €273,222 | €388,852 | €377,202 | ▼ 3.0% |
| Suppliers440/4 | - | €118,066 | €273,222 | €388,852 | €377,202 | ▼ 3.0% |
| Taxes, remuneration and social security45 | - | €6,431 | €20,159 | €15,768 | €23,001 | ▲ 45.9% |
| Taxes450/3 | - | €1,926 | €2,074 | €3,609 | €7,219 | ▲ 100% |
| Remuneration and social security454/9 | - | €4,505 | €18,086 | €12,159 | €15,782 | ▲ 29.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50,565 | €146,227 | €24,275 | -€114,297 | €10,674 | ▲ 109% |
| + Depreciation and write-downs630 | €20,015 | €2,631 | €1,583 | €1,583 | €599 | ▼ 62.2% |
| Operating cash flow (approximation) | €70,580 | €148,858 | €25,859 | -€112,714 | €11,273 | ▲ 110% |
| Investment in fixed assets (approximation) | - | -€4,750 | €0 | €0 | €0 | - |
| Change in cash | - | - | €3,294 | €1,776 | €7,051 | ▲ 297% |
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
26-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 18-11-2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Back to profitnet €10,674
Net result €10,674 after one loss-making year.
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
31-12
Financial
Weakest financial yearnet -€114,297
Net result drops to -€114,297, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 9 days late
2021
31-12
Financial
Highest result since 2018net €146,227 ▲189%
Operating result €176,842, net result €146,227, both a record.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 25 days late
2019
31-12
Financial
Equity above €200,000Eq €214,855 ▲81.7%
2 profitable years in a row build equity to €214,855.
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 14 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
1 act for this company is 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, Kortrijk · 1 establishment unit since 2018
Ground area
722 m²
Building footprint
269 m²
Volume, LiDAR
1,525 m³
Parcel 34354C0781/00S000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
De Vlasblomme
since 20182.274.126.792
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354C0781/00S000 | Flanders | 722 m² | 1 · 269 m² | 11.2 m · 2 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 | PHILIP GHEKIERE KONING ALBERTSTRAAT 24 BUS 1,
8500 KORTRIJK |
18-11-2025 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteKortrijk2.274.126.792
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Of 20,509 companies in sector 56111 we hold annual accounts for 11,464. 9,796 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
Founded19-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
E-invoicing
Reachable via Peppol
Peppol ID
0208:0688648134
Also
9925:BE0688648134
Registered
02-06-2025
The company is no longer active; its Peppol card can remain until its access point withdraws it.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.