PORTB
Open bankruptcyA bankruptcy procedure is open for PORTB according to publications in the Belgian State Gazette; curator: ELS LEENKNECHT.
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 30-06-2023, 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 · 4 filingsPosition against the passed deadline
30-06-2023 close31-01-2024 deadline25-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2022 was due by 31-01-2023 and was filed on 30-01-2023, 1 day ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
1 d early
2021
on the day
2020
2 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€1k▼ 87.4%
2021 · €12k
2019: €31khighest in 4 years
2020: €24k▼ -20.5% vs 2019
2021: €12k▼ -52.2% vs 2020
2022: €1k▼ -87.4% vs 2021lowest in 4 years
2019 → 2022
Total assets
€115k▼ 22.4%
2021 · €149k
2019: €176k
2020: €194k▲ +10.3% vs 2019highest in 4 years
2021: €149k▼ -23.2% vs 2020
2022: €115k▼ -22.4% vs 2021lowest in 4 years
2019 → 2022
Net result
€-10k▲ 20.1%
2021 · €-13k
2019: €24khighest in 4 years
2020: €-6k▼ -126% vs 2019
2021: €-13k▼ -103% vs 2020lowest in 4 years
2022: €-10k▲ +20.1% vs 2021
2019 → 2022
Working capital
€-16k
2021 · €2k
2019: €21khighest in 4 years
2020: €18k▼ -15.5% vs 2019
2021: €2k▼ -86.1% vs 2020
2022: €-16k▼ -747% vs 2021lowest in 4 years
2019 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2019202020212022Trend
Equity€31k-€24k▼ 20.5%€12k▼ 52.2%€1k▼ 87.4%
2019: €31khighest in 4 years
2020: €24k▼ -20.5% vs 2019
2021: €12k▼ -52.2% vs 2020
2022: €1k▼ -87.4% vs 2021lowest in 4 years
Operating result€32k-€-5k€-12k▼ 148%€-9k▲ 25.8%
2019: €32khighest in 4 years
2020: €-5k▼ -115% vs 2019
2021: €-12k▼ -148% vs 2020lowest in 4 years
2022: €-9k▲ +25.8% vs 2021
Net result€24k-€-6k€-13k▼ 103%€-10k▲ 20.1%
2019: €24khighest in 4 years
2020: €-6k▼ -126% vs 2019
2021: €-13k▼ -103% vs 2020lowest in 4 years
2022: €-10k▲ +20.1% vs 2021
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €9k in 2022 against €12k in 2021; the loss shrinks.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €115k
Fixed assets
€53k ▼ 18.9%
Current assets
€62k ▼ 25.1%
Equity and liabilities €115k
Equity
€1k ▼ 87.4%
Debt
€114k ▼ 16.9%
Debt's share of the balance-sheet total rises from 92.2% to 98.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€4k▲
2021 · €742
Cash flow
€2k▲
2021 · €-307
Current ratio
0.80▼
2021 · 1.03
Quick ratio
0.26▼
2021 · 0.51
Debt to equity
77.61▲
2021 · 4.86
ROE
-691.4%▼
2021 · -109.4%
ROA
-8.8%▼
2021 · -8.5%
Interest coverage
2.39
Debt ≤ 1 year
€78k▼
2021 · €81k
Debt > 1 year
€35k▼
2021 · €56k
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 · 2022 against 2021 · 45 lines
Balance sheet
Code20212022
Assets
Total assets20/58€149k€115k▼
Fixed assets21/28€66k€53k▼
Intangible fixed assets21€12k€9k▼
Tangible fixed assets22/27€54k€44k▼
Plant, machinery and equipment23-€44k
Furniture and vehicles24-€0
Current assets29/58€83k€62k▼
Stocks and contracts in progress3€42k€42k▼
Stocks30/36-€42k
Amounts receivable within one year40/41€25k€7k▼
Trade receivables40-€5k
Other amounts receivable41-€2k
Cash at bank and in hand54/58€11k€9k▼
Deferred charges and accrued income490/1-€5k
Equity and liabilities
Total equity and liabilities10/49€149k€115k▼
Equity10/15€12k€1k▼
Contributions10/11-€6k
Reserves13€5k€0▼
Distributable reserves133-€0
Profit (loss) carried forward14-€-5k
Amounts payable17/49€137k€114k▼
Amounts payable after more than one year17€56k€35k▼
Financial debts170/4-€35k
Amounts payable within one year42/48€81k€78k▼
Current portion of amounts payable after more than one year42-€22k
Trade debts44€38k€18k▼
Suppliers440/4-€18k
Advances received on contracts in progress46-€0
Taxes, remuneration and social security45-€1k
Taxes450/3-€1k
Other amounts payable47/48-€37k
Accrued charges and deferred income492/3-€1k
Income statement
Code20212022
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€12k=
Other operating charges640/8-€2k
Gross operating margin9900€2k€6k▲
Operating profit (loss)9901€-12k€-9k▲
Financial income75/76B-€64
Recurring financial income75€45€64▲
Financial charges65/66B-€2k
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€-13k€-10k▲
Profit (loss) for the period9904€-13k€-10k▲
Profit (loss) for the period to be appropriated9905€-13k€-10k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-10k
Transfer from equity791/2-€5k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €9k | €12k | €12k | = |
| Other operating charges640/8 | - | - | - | €2k | - |
| Gross operating margin9900 | €46k | €5k | €2k | €6k | ▲ 254% |
| Operating profit (loss)9901 | €32k | €-5k | €-12k | €-9k | ▲ 25.8% |
| Financial income75/76B | - | - | - | €64 | - |
| Recurring financial income75 | €75 | €0 | €45 | €64 | ▲ 42.8% |
| Financial charges65/66B | - | - | - | €2k | - |
| Recurring financial charges65 | €5k | €2k | €1k | €2k | ▲ 43.5% |
| Profit (loss) for the period before taxes9903 | €26k | €-6k | €-13k | €-10k | ▲ 20.1% |
| Income taxes67/77 | €2k | - | - | - | - |
| Profit (loss) for the period9904 | €24k | €-6k | €-13k | €-10k | ▲ 20.1% |
| Profit (loss) for the period to be appropriated9905 | €24k | €-6k | €-13k | €-10k | ▲ 20.1% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €176k | €194k | €149k | €115k | ▼ 22.4% |
| Fixed assets21/28 | €71k | €63k | €66k | €53k | ▼ 18.9% |
| Intangible fixed assets21 | - | - | €12k | €9k | ▼ 25.0% |
| Tangible fixed assets22/27 | €71k | €63k | €54k | €44k | ▼ 17.5% |
| Plant, machinery and equipment23 | - | - | - | €44k | - |
| Furniture and vehicles24 | - | - | - | €0 | - |
| Current assets29/58 | €104k | €131k | €83k | €62k | ▼ 25.1% |
| Stocks and contracts in progress3 | €40k | €43k | €42k | €42k | ▼ 0.9% |
| Stocks30/36 | - | - | - | €42k | - |
| Amounts receivable within one year40/41 | €20k | €59k | €25k | €7k | ▼ 72.3% |
| Trade receivables40 | - | - | - | €5k | - |
| Other amounts receivable41 | - | - | - | €2k | - |
| Cash at bank and in hand54/58 | €37k | €24k | €11k | €9k | ▼ 21.4% |
| Deferred charges and accrued income490/1 | - | - | - | €5k | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €176k | €194k | €149k | €115k | ▼ 22.4% |
| Equity10/15 | €31k | €24k | €12k | €1k | ▼ 87.4% |
| Contributions10/11 | €6k | - | - | €6k | - |
| Reserves13 | €24k | €18k | €5k | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €0 | - |
| Profit (loss) carried forward14 | - | - | - | €-5k | - |
| Amounts payable17/49 | €145k | €169k | €137k | €114k | ▼ 16.9% |
| Amounts payable after more than one year17 | €62k | €56k | €56k | €35k | ▼ 38.3% |
| Financial debts170/4 | - | - | - | €35k | - |
| Amounts payable within one year42/48 | €83k | €113k | €81k | €78k | ▼ 3.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €22k | - |
| Trade debts44 | €49k | €91k | €38k | €18k | ▼ 52.2% |
| Suppliers440/4 | - | - | - | €18k | - |
| Advances received on contracts in progress46 | - | - | - | €0 | - |
| Taxes, remuneration and social security45 | - | - | - | €1k | - |
| Taxes450/3 | - | - | - | €1k | - |
| Other amounts payable47/48 | - | - | - | €37k | - |
| Accrued charges and deferred income492/3 | - | - | - | €1k | - |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €-6k | €-13k | €-10k | ▲ 20.1% |
| + Depreciation and write-downs630 | €13k | €9k | €12k | €12k | = |
| Operating cash flow (approximation) | €37k | €3k | €-307 | €2k | ▲ 834% |
| Investment in fixed assets (approximation) | - | €-1k | €-15k | €0 | ▲ 100% |
| Change in cash | - | €-13k | €-13k | €-2k | ▲ 82.1% |
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
2023
05-06
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Veurne · event 30-05-2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Weakest financial yearnet €-13k
Net result drops to €-13k, the lowest in the series.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ELS LEENKNECHT FABRIEKSTRAAT 4 / BUS 01,
8600 DIKSMUIDE |
30-05-2023 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,203 EUR awarded · 2,203 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,203 EUR | 2,203 EUR |
Schemes
Vlaams beschermingsmechanisme (stopgezet)