PICASSO BAR
Bankruptcy closedSummary
PICASSO BAR was declared bankrupt on 01-04-2025 (Ondernemingsrechtbank Brussel); the bankruptcy was closed for insufficient assets by judgment of 16-12-2025, published in the Belgian State Gazette on 24-12-2025. The 2021 annual accounts show negative equity (€-30k) and a net result of €-2k.
Signals
Two 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 26-10-2022, 87 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
87 d late
2020
117 d late
2018
145 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Turnover
€66k▲ 86.3%
2020 · €35k
2018: €65k
2020: €35klowest value
2021: €66k▲ +86.3% vs 2020highest value
2018 → 2021
EBIT margin
-2.7%▲ 38.2pp
2020 · -40.9%
2018: -19.3%
2020: -40.9%lowest value
2021: -2.7%▲ +93.4% vs 2020highest value
2018 → 2021
Net result
€-2k▲ 87.4%
2020 · €-15k
2018: €-13k
2020: €-15klowest value
2021: €-2k▲ +87.4% vs 2020highest value
2018 → 2021
Working capital
€-30k▼ 6.6%
2020 · €-28k
2018: €-13khighest value
2020: €-28k
2021: €-30k▼ -6.6% vs 2020lowest value
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201820202021Trend
Turnover€65k-€35k▼ 45.7%€66k▲ 86.3%
2018: €65k
2020: €35klowest value
2021: €66k▲ +86.3% vs 2020highest value
Equity€-13k-€-28k▼ 120%€-30k▼ 6.6%
2018: €-13khighest value
2020: €-28k
2021: €-30k▼ -6.6% vs 2020lowest value
Operating result€-13k-€-15k▼ 14.9%€-2k▲ 87.7%
2018: €-13k
2020: €-15klowest value
2021: €-2k▲ +87.7% vs 2020highest value
Net result€-13k-€-15k▼ 14.9%€-2k▲ 87.4%
2018: €-13k
2020: €-15klowest value
2021: €-2k▲ +87.4% vs 2020highest value
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2021 against €15k in 2020; the loss shrinks.
Key figures and ratios
Debt
€33k▲
2020 · €31k
Debt ≤ 1 year
€33k▲
2020 · €31k
Ratios withheld: a balance sheet total of €3k is too small for a meaningful ratio.
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 · 28 lines
Balance sheet
Code20202021
Assets
Total assets20/58€3k€3k▲
Current assets29/58€3k€3k▲
Stocks and contracts in progress3€2k€2k▼
Stocks30/36-€2k
Amounts receivable within one year40/41€908€983▲
Other amounts receivable41-€983
Cash at bank and in hand54/58-€403
Equity and liabilities
Total equity and liabilities10/49€3k€3k▲
Equity10/15€-28k€-30k▼
Profit (loss) carried forward14€-28k€-30k▼
Amounts payable17/49€31k€33k▲
Amounts payable within one year42/48€31k€33k▲
Trade debts44€728€4k▲
Suppliers440/4-€4k
Taxes, remuneration and social security45-€296
Taxes450/3-€296
Other amounts payable47/48-€29k
Income statement
Code20202021
Turnover70€35k€66k▲
Goods, raw materials, services and sundry goods60/61-€68k
Gross operating margin9900€-14k€-2k▲
Operating profit (loss)9901€-15k€-2k▲
Financial charges65/66B-€57
Recurring financial charges65-€57
Profit (loss) for the period before taxes9903€-15k€-2k▲
Profit (loss) for the period9904€-15k€-2k▲
Profit (loss) for the period to be appropriated9905€-15k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-30k
Profit (loss) brought forward from the previous period14P-€-28k
Accounts by statement
| Line | 2018 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Turnover70 | €65k | €35k | €66k | ▲ 86.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €68k | - |
| Gross operating margin9900 | €-8k | €-14k | €-2k | ▲ 87.5% |
| Operating profit (loss)9901 | €-13k | €-15k | €-2k | ▲ 87.7% |
| Financial charges65/66B | - | - | €57 | - |
| Recurring financial charges65 | - | - | €57 | - |
| Profit (loss) for the period before taxes9903 | €-13k | €-15k | €-2k | ▲ 87.4% |
| Profit (loss) for the period9904 | €-13k | €-15k | €-2k | ▲ 87.4% |
| Profit (loss) for the period to be appropriated9905 | €-13k | €-15k | €-2k | ▲ 87.4% |
| Line | 2018 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €2k | €3k | €3k | ▲ 4.3% |
| Current assets29/58 | €2k | €3k | €3k | ▲ 4.3% |
| Stocks and contracts in progress3 | €349 | €2k | €2k | ▼ 14.0% |
| Stocks30/36 | - | - | €2k | - |
| Amounts receivable within one year40/41 | €866 | €908 | €983 | ▲ 8.2% |
| Other amounts receivable41 | - | - | €983 | - |
| Cash at bank and in hand54/58 | €679 | - | €403 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €2k | €3k | €3k | ▲ 4.3% |
| Equity10/15 | €-13k | €-28k | €-30k | ▼ 6.6% |
| Profit (loss) carried forward14 | €-13k | €-28k | €-30k | ▼ 6.6% |
| Amounts payable17/49 | €15k | €31k | €33k | ▲ 6.4% |
| Amounts payable within one year42/48 | €15k | €31k | €33k | ▲ 6.4% |
| Trade debts44 | €5k | €728 | €4k | ▲ 462% |
| Suppliers440/4 | - | - | €4k | - |
| Taxes, remuneration and social security45 | - | - | €296 | - |
| Taxes450/3 | - | - | €296 | - |
| Other amounts payable47/48 | - | - | €29k | - |
| Line | 2018 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-13k | €-15k | €-2k | ▲ 87.4% |
| Operating cash flow (approximation) | €-13k | €-15k | €-2k | ▲ 87.4% |
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
24-12
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Brussel · event 16-12-2025
07-04
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · event 01-04-2025
2022
26-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 87 days late
2021
25-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 117 days late
2020
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series.
2019
23-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 145 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
Sign in to place this company at the front of the reading queue.
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, Grimbergen · 1 establishment unit since 2017
Ground area
1,424 m²
Building footprint
561 m²
Volume, LiDAR
7,924 m³
Parcel 23084A0399/00M025, Flanders · tallest building 22.0 m, ±5 floors. Linked by address, not a title deed.
207
companies at this address
See who is registered here
1 establishment unit
PICASSO BAR
since 20172.270.582.928
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084A0399/00M025 | Flanders | 1,424 m² | 1 · 561 m² | 22.0 m · 5 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 | Ilse VAN DE MIEROP WOLSTRAAT 68-70,
1000 BRUSSEL 1 |
01-04-2025 → 16-12-2025 |
Recognitions · licences · registrations
Food safety, FASFC
1 siteGrimbergen2.270.582.928
Similar companies · same sector
' T SCHAAFKE
BE 0403.827.034
Temse
A.S.B.L. Parc communal de Jemappes
BE 0401.144.389
Mons
AMICOM
BE 0400.445.001
Antwerpen
ASBL CERCLE ST LAMBERT
BE 0402.310.864
Limbourg
AVOMAT
BE 0403.703.508
Antwerpen
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector. Of 14,009 companies in sector 56301 we hold annual accounts for 4,892. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-08-2017
Fiscal year end31-12
Activities, NACEBEL 2025
56301Cafés and bars
Scores and ratios are computed by Checked and are not a credit decision.