PROJECT AND SAVING
Inactive1 interim measureInactive; last annual accounts for fiscal year 2021.
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 31-12-2022, 4 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 · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 18-08-2022, 18 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
18 d late
2020
33 d late
2019
122 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 58 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Turnover
€69,858
EBIT margin
21.7%
Net result
-€5,524▲ 47.0%
2020 · -€10,421
Working capital
€40,352▼ 9.3%
2020 · €44,490
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
Line2018201920202021
Turnover€69,858
Operating result-€37,563-€15,191-€9,650-€5,119▲ 47.0%
Net result-€34,680-€14,746-€10,421-€5,524▲ 47.0%
EBIT margin21.7%
Equity€44,322-€59,068▲ 33.3%€48,647▼ 17.6%€43,123▼ 11.4%
Total assets€54,729-€65,890▲ 20.4%€49,181▼ 25.4%€43,535▼ 11.5%
Debt€10,407-€6,822▼ 34.4%€534▼ 92.2%€411▼ 22.9%
Working capital€23,677-€53,202▲ 125%€44,490▼ 16.4%€40,352▼ 9.3%
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 €5,119 in 2021 against €9,650 in 2020; the loss shrinks.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €43,535
Fixed assets
€2,772 ▼ 33.3%
Current assets
€40,763 ▼ 9.5%
Equity and liabilities €43,535
Equity
€43,123 ▼ 11.4%
Debt
€411 ▼ 22.9%
Debt's share of the balance-sheet total falls from 1.1% to 0.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€3,734▲
2020 · -€7,942
Cash flow
-€4,138▲
2020 · -€8,712
Current ratio
99.09▲
2020 · 84.34
Debt to equity
0.01
ROE
-12.8%▲
2020 · -21.4%
ROA
-12.7%▲
2020 · -21.2%
Interest coverage
-18.57
Debt ≤ 1 year
€411▼
2020 · €534
Income taxes
€204▼
2020 · €208
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 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | €69,858 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,267 | €1,708 | €1,708 | €1,386 | ▼ 18.9% |
| Other operating charges640/8 | - | - | - | €425 | - |
| Gross operating margin9900 | -€25,837 | €17,628 | -€7,595 | -€3,309 | ▲ 56.4% |
| Operating profit (loss)9901 | -€37,563 | €15,191 | -€9,650 | -€5,119 | ▲ 47.0% |
| Recurring financial income75 | €3,344 | €11 | - | - | - |
| Financial charges65/66B | - | - | - | €201 | - |
| Recurring financial charges65 | €171 | €261 | €563 | €201 | ▼ 64.3% |
| Profit (loss) for the period before taxes9903 | -€34,390 | €14,941 | -€10,213 | -€5,320 | ▲ 47.9% |
| Income taxes67/77 | €290 | €196 | €208 | €204 | ▼ 1.9% |
| Profit (loss) for the period9904 | -€34,680 | €14,746 | -€10,421 | -€5,524 | ▲ 47.0% |
| Profit (loss) for the period to be appropriated9905 | -€34,680 | €14,746 | -€10,421 | -€5,524 | ▲ 47.0% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €54,729 | €65,890 | €49,181 | €43,535 | ▼ 11.5% |
| Fixed assets21/28 | €20,645 | €5,866 | €4,157 | €2,772 | ▼ 33.3% |
| Tangible fixed assets22/27 | €645 | €5,866 | €4,157 | €2,772 | ▼ 33.3% |
| Plant, machinery and equipment23 | - | - | - | €805 | - |
| Furniture and vehicles24 | - | - | - | €1,967 | - |
| Financial fixed assets28 | €20,000 | - | - | - | - |
| Current assets29/58 | €34,084 | €60,025 | €45,024 | €40,763 | ▼ 9.5% |
| Amounts receivable within one year40/41 | €32,035 | €59,821 | €42,850 | €39,563 | ▼ 7.7% |
| Other amounts receivable41 | - | - | - | €39,563 | - |
| Cash at bank and in hand54/58 | €2,049 | €203 | €2,174 | €1,200 | ▼ 44.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €54,729 | €65,890 | €49,181 | €43,535 | ▼ 11.5% |
| Equity10/15 | €44,322 | €59,068 | €48,647 | €43,123 | ▼ 11.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €23,862 | €38,608 | €28,187 | €22,663 | ▼ 19.6% |
| Amounts payable17/49 | €10,407 | €6,822 | €534 | €411 | ▼ 22.9% |
| Amounts payable within one year42/48 | €10,407 | €6,822 | €534 | €411 | ▼ 22.9% |
| Trade debts44 | €117 | €5,394 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €411 | - |
| Taxes450/3 | - | - | - | €411 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€34,680 | €14,746 | -€10,421 | -€5,524 | ▲ 47.0% |
| + Depreciation and write-downs630 | €11,267 | €1,708 | €1,708 | €1,386 | ▼ 18.9% |
| Operating cash flow (approximation) | -€23,412 | €16,454 | -€8,712 | -€4,138 | ▲ 52.5% |
| Investment in fixed assets (approximation) | - | €13,071 | €0 | €0 | - |
| Change in cash | - | -€1,846 | €1,970 | -€974 | ▼ 149% |
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
2022
08-11
Bankruptcy
Judicial dissolution and immediate closure
Tribunal de l’entreprise de Liège, division Neufchâteau
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
07-02
Interim measure
Provisional administrator
Tribunal de l’entreprise de Liège · Laura DEBATTY
2021
02-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 33 days late
2020
31-12
Financial
Liquidity times 10current ratio 84.34
Current ratio from 8.80 to 84.34; short-term debt falls from €6,822 to €534.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
Financial
Back to profitnet €14,746
Net result €14,746 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 8.80
Current ratio from 3.28 to 8.80; short-term debt falls from €10,407 to €6,822.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
20-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 112 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
Show earlier events
2015
31-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
25-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 25 days late
2013
07-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 7 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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 |
|---|---|---|
| Interim administrator | Laura DEBATTY | 07-02-2022 → present |