PICASS
Open bankruptcyA bankruptcy procedure is open for PICASS according to publications in the Belgian State Gazette; curator: TOM TOREMANS.
Summary
The 2020 annual accounts show negative equity (-€1.9m) and a net result of €48,064.
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 Antwerp, Antwerp division
- Declared bankrupt
- 24 October 2024
- Supervising judge
- Hilde Van de Wal
- Official Gazette
- 30-10-2024 (pdf) ↗search the document for 2024/141770
Deadlines
- Provisional date payments stopped
- 24 October 2024A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 14 November 2024Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 23 November 2024art. XX.104 and XX.155 CEL
- First verification report
- passed on 20 December 2024Goods 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
- passed on 24 October 2025Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Tom ToremansCockerillkaai 18, 2000 Antwerpen 1t.toremans@agio.legal
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
Two signals.
+raises risk
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 address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2020, micro schema
Equity
-€1.9m▲ 2.5%
2019 · -€1.9m
Total assets
€78,137▲ 17.1%
2019 · €66,727
Net result
€48,064▼ 15.1%
2019 · €56,612
Working capital
€32,857▲ 33.4%
2019 · €24,633
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
Line201820192020
Operating result€107,069-€96,565▼ 9.8%€88,611▼ 8.2%
Net result€54,416-€56,612▲ 4.0%€48,064▼ 15.1%
Equity-€2.0m--€1.9m▲ 2.8%-€1.9m▲ 2.5%
Total assets€77,423-€66,727▼ 13.8%€78,137▲ 17.1%
Debt€2.1m-€2.0m▼ 3.2%€2.0m▼ 1.8%
Working capital-€28,548-€24,633€32,857▲ 33.4%
Staff (FTE)1-1=1=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2020 is 8% below 2019 and is the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €78,137
Fixed assets
€194 ▼ 98.4%
Current assets
€77,943 ▲ 42.4%
Key figures and ratios
EBITDA
€100,427▼
2019 · €108,380
Cash flow
€59,880▼
2019 · €68,428
Current ratio
1.73▼
2019 · 1.82
Debt to equity
-1.04▼
2019 · -1.02
ROA
61.5%▼
2019 · 84.8%
Interest coverage
3.12
Debt ≤ 1 year
€45,087▲
2019 · €30,084
Debt > 1 year
€1.9m▼
2019 · €2.0m
Staff costs
€35,647
A ratio outside any meaningful range has been withheld (balance sheet total €78,137, equity -€1.9m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €35,647 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,816 | €11,816 | €11,816 | = |
| Other operating charges640/8 | - | - | €3,831 | - |
| Gross operating margin9900 | €158,240 | €154,042 | €139,904 | ▼ 9.2% |
| Operating profit (loss)9901 | €107,069 | €96,565 | €88,611 | ▼ 8.2% |
| Financial income75/76B | - | - | €1,043 | - |
| Recurring financial income75 | €317 | €32 | €1,043 | ▲ 3,150% |
| Non-recurring financial income76B | - | - | €1,043 | - |
| Financial charges65/66B | - | - | €41,590 | - |
| Recurring financial charges65 | €52,780 | €39,985 | €32,208 | ▼ 19.5% |
| Non-recurring financial charges66B | - | - | €9,382 | - |
| Profit (loss) for the period before taxes9903 | €54,416 | €56,612 | €48,064 | ▼ 15.1% |
| Profit (loss) for the period9904 | €54,416 | €56,612 | €48,064 | ▼ 15.1% |
| Profit (loss) for the period to be appropriated9905 | €54,416 | €56,612 | €48,064 | ▼ 15.1% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €77,423 | €66,727 | €78,137 | ▲ 17.1% |
| Fixed assets21/28 | €23,825 | €12,010 | €194 | ▼ 98.4% |
| Tangible fixed assets22/27 | €23,632 | €11,816 | - | - |
| Financial fixed assets28 | €194 | €194 | €194 | = |
| Current assets29/58 | €53,597 | €54,717 | €77,943 | ▲ 42.4% |
| Amounts receivable within one year40/41 | €16,181 | €16,598 | €5,818 | ▼ 64.9% |
| Trade receivables40 | - | - | €5,478 | - |
| Other amounts receivable41 | - | - | €340 | - |
| Cash at bank and in hand54/58 | €1,217 | €1,794 | €64 | ▼ 96.4% |
| Deferred charges and accrued income490/1 | - | - | €72,061 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €77,423 | €66,727 | €78,137 | ▲ 17.1% |
| Equity10/15 | -€2.0m | -€1.9m | -€1.9m | ▲ 2.5% |
| Contributions10/11 | €300,000 | €300,000 | €300,000 | = |
| Reserves13 | - | €30,000 | €30,000 | = |
| Non-distributable reserves130/1 | - | - | €30,000 | - |
| Reserves not available under the articles1311 | - | - | €30,000 | - |
| Profit (loss) carried forward14 | -€2.3m | -€2.3m | -€2.2m | ▲ 2.1% |
| Amounts payable17/49 | €2.1m | €2.0m | €2.0m | ▼ 1.8% |
| Amounts payable after more than one year17 | €2.0m | €2.0m | €1.9m | ▼ 4.2% |
| Other amounts payable178/9 | - | - | €1.9m | - |
| Amounts payable within one year42/48 | €82,145 | €30,084 | €45,087 | ▲ 49.9% |
| Trade debts44 | €4,576 | €9,662 | €11,310 | ▲ 17.1% |
| Suppliers440/4 | - | - | €11,310 | - |
| Taxes, remuneration and social security45 | - | - | €33,777 | - |
| Taxes450/3 | - | - | €27,479 | - |
| Remuneration and social security454/9 | - | - | €6,298 | - |
| Accrued charges and deferred income492/3 | - | - | €32,105 | - |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,416 | €56,612 | €48,064 | ▼ 15.1% |
| + Depreciation and write-downs630 | €11,816 | €11,816 | €11,816 | = |
| Operating cash flow (approximation) | €66,232 | €68,428 | €59,880 | ▼ 12.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €577 | -€1,730 | ▼ 400% |
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
30-10
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 24-10-2024
2022
12-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 285 days late
2020
31-12
Financial
Weakest financial yearnet €48,064 ▼15.1%
Net result drops to €48,064, the lowest in the series.
26-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 118 days late
2019
31-12
Financial
Highest result since 2018net €56,612 ▲4%
Net result €56,612, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 1.82
Current ratio from 0.65 to 1.82; short-term debt falls from €82,145 to €30,084.
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-03
Bankruptcy
Bankruptcy reversal
Rechtbank van koophandel Antwerpen, afdeling Antwerpen
2016
08-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
26-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 210 days late
2015
09-02
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Show earlier events
2014
25-04
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 56 days late
2013
19-09
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 203 days late
2012
09-05
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema · 70 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Kontich · 1 establishment unit since 1970
Ground area
1.9 ha
Building footprint
7,081 m²
Volume, LiDAR
42,470 m³
2 parcels, Flanders · tallest building 15.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Festival
since 19702.003.563.110
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11602E0097/00F000 | Flanders | 1.6 ha | 1 · 6,799 m² | 15.1 m · 2 fl. |
| 11602C0107/00G002 | Flanders | 2,746 m² | 1 · 282 m² | 7.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
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 | TOM TOREMANS COCKERILLKAAI 18,
2000 ANTWERPEN 1 |
24-10-2024 → present |
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded19-12-2001
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.