PUNCH COMMUNICATION
Open bankruptcyA bankruptcy procedure is open for PUNCH COMMUNICATION according to publications in the Belgian State Gazette; curator: LAURA DEBATTY.
Summary
The 2024 annual accounts show negative equity (-€23,869) and a net result of -€52,988.
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 Liège, Neufchâteau division
- Declared bankrupt
- 24 October 2025
- Supervising judge
- Michel Thilmant
- Official Gazette
- 30-10-2025 (pdf) ↗search the document for 2025/144528
Deadlines
- Appeal or third-party opposition until
- passed on 14 November 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 23 November 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 19 December 2025Goods 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
- 24 October 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Laura DebattyRue De La Gare 10, 6980 La Roche-En-Ardenneavocat@lauradebatty.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 · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€23,869
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-09-2025, 45 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
45 d late
2023
22 d late
2022
42 d early
2021
69 d early
2020
54 d early
2019
21 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 13 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% 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 Advertising agencies sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
-€23,869
2023 · €30,797
Total assets
€360,044▲ 102%
2023 · €178,461
Net result
-€52,988▲ 40.2%
2023 · -€88,625
Working capital
-€173,033
2023 · €3,703
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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-€31,399€5,236€26,582▲ 408%-€79,708-€53,250▲ 33.2%
Net result-€27,249below the sector's middle half€2,754within the sector's middle half€19,969within the sector's middle half▲ 625%-€88,625below the sector's middle half-€52,988below the sector's middle half▲ 40.2%
Equity€88,506within the sector's middle half▼ 23.5%€91,260within the sector's middle half▲ 3.1%€111,229within the sector's middle half▲ 21.9%€30,797within the sector's middle half▼ 72.3%-€23,869below the sector's middle half
Total assets€166,041within the sector's middle half▼ 27.8%€180,521within the sector's middle half▲ 8.7%€254,637within the sector's middle half▲ 41.1%€178,461within the sector's middle half▼ 29.9%€360,044above the sector's middle half▲ 102%
Debt€77,535▼ 32.1%€89,261▲ 15.1%€143,408▲ 60.7%€144,933▲ 1.1%€381,728▲ 163%
Working capital€84,246within the sector's middle half▼ 16.3%€88,107within the sector's middle half▲ 4.6%€89,503within the sector's middle half▲ 1.6%€3,703within the sector's middle half▼ 95.9%-€173,033below the sector's middle half
Solvency53.3%within the sector's middle half▲ 3.0pp50.6%within the sector's middle half▼ 2.7pp43.7%within the sector's middle half▼ 6.9pp17.3%below the sector's middle half▼ 26.4pp-6.6%below the sector's middle half▼ 23.9pp
Current ratio2.09within the sector's middle half▲ 0.201.99within the sector's middle half▼ 0.101.76within the sector's middle half▼ 0.221.03below the sector's middle half▼ 0.730.51below the sector's middle half▼ 0.52
Return on assets (ROA)-16.4%below the sector's middle half▼ 39.1pp1.5%within the sector's middle half▲ 17.9pp7.8%within the sector's middle half▲ 6.3pp-49.7%below the sector's middle half▼ 57.5pp-14.7%below the sector's middle half▲ 34.9pp
Staff (FTE)3.2above the sector's middle half▼ 5.9%3▼ 6.3%3=3.8▲ 26.7%3.2▼ 15.8%
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
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 €53,250 in 2024 against €79,708 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €360,044
Fixed assets
€183,205 ▲ 269%
Current assets
€176,839 ▲ 37.2%
Key figures and ratios
EBITDA
-€41,419▲
2023 · -€69,534
Cash flow
-€41,157▲
2023 · -€78,451
Debt to equity
-15.99▼
2023 · 4.71
Interest coverage
-8.28▲
2023 · -44.10
Debt ≤ 1 year
€349,872▲
2023 · €125,145
Debt > 1 year
€31,856▲
2023 · €19,788
Income taxes
€2▼
2023 · €7,729
Staff costs
€154,488▼
2023 · €181,591
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 | - | €113,074 | €137,556 | €181,591 | €154,488 | ▼ 14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,246 | €1,107 | €1,783 | €10,174 | €11,831 | ▲ 16.3% |
| Other operating charges640/8 | - | €779 | €1,096 | €1,891 | €1,141 | ▼ 39.6% |
| Non-recurring operating charges66A | - | - | - | - | €4,279 | - |
| Gross operating margin9900 | €93,970 | €120,196 | €167,016 | €113,947 | €118,489 | ▲ 4.0% |
| Operating profit (loss)9901 | -€31,399 | €5,236 | €26,582 | -€79,708 | -€53,250 | ▲ 33.2% |
| Financial income75/76B | - | €1 | €708 | €324 | €5,269 | ▲ 1,525% |
| Recurring financial income75 | €2 | €1 | €708 | €324 | €5,269 | ▲ 1,525% |
| Financial charges65/66B | - | €101 | €208 | €1,577 | €5,005 | ▲ 217% |
| Recurring financial charges65 | €24 | €101 | €208 | €1,577 | €5,005 | ▲ 217% |
| Profit (loss) for the period before taxes9903 | -€31,421 | €5,136 | €27,082 | -€80,960 | -€52,986 | ▲ 34.6% |
| Transfer from deferred taxes780 | - | - | - | €64 | - | - |
| Income taxes67/77 | -€4,171 | €2,382 | €7,113 | €7,729 | €2 | ▼ 100.0% |
| Profit (loss) for the period9904 | -€27,249 | €2,754 | €19,969 | -€88,625 | -€52,988 | ▲ 40.2% |
| Transfer from tax-exempt reserves789 | - | €8,400 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€25,243 | €11,154 | €19,969 | -€88,625 | -€52,988 | ▲ 40.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €166,041 | €180,521 | €254,637 | €178,461 | €360,044 | ▲ 102% |
| Fixed assets21/28 | €4,260 | €3,153 | €47,817 | €49,614 | €183,205 | ▲ 269% |
| Intangible fixed assets21 | - | - | - | €11,695 | €137,495 | ▲ 1,076% |
| Tangible fixed assets22/27 | €4,260 | €3,153 | €47,817 | €37,919 | €45,710 | ▲ 20.5% |
| Furniture and vehicles24 | - | €3,153 | €47,817 | €37,919 | €7,520 | ▼ 80.2% |
| Leasing and similar rights25 | - | - | - | - | €38,190 | - |
| Current assets29/58 | €161,781 | €177,368 | €206,820 | €128,848 | €176,839 | ▲ 37.2% |
| Amounts receivable within one year40/41 | €81,571 | €86,098 | €164,164 | €108,314 | €165,897 | ▲ 53.2% |
| Trade receivables40 | - | €85,132 | €163,343 | €108,314 | €156,392 | ▲ 44.4% |
| Other amounts receivable41 | - | €966 | €821 | - | €9,505 | - |
| Cash at bank and in hand54/58 | €75,667 | €87,138 | €35,653 | €14,708 | €10,645 | ▼ 27.6% |
| Deferred charges and accrued income490/1 | - | €4,132 | €7,002 | €5,825 | €297 | ▼ 94.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €166,041 | €180,521 | €254,637 | €178,461 | €360,044 | ▲ 102% |
| Equity10/15 | €88,506 | €91,260 | €111,229 | €30,797 | -€23,869 | ▼ 178% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €12,456 | €4,056 | €4,056 | €4,056 | €4,056 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €2,196 | €2,196 | €4,056 | €4,056 | = |
| Profit (loss) carried forward14 | €57,450 | €68,604 | €88,573 | -€53 | -€53,041 | ▼ 100,911% |
| Investment grants15 | - | - | - | €8,193 | €6,516 | ▼ 20.5% |
| Provisions and deferred taxes16 | - | - | - | €2,731 | €2,185 | ▼ 20.0% |
| Deferred taxes168 | - | - | - | €2,731 | €2,185 | ▼ 20.0% |
| Amounts payable17/49 | €77,535 | €89,261 | €143,408 | €144,933 | €381,728 | ▲ 163% |
| Amounts payable after more than one year17 | - | - | €25,976 | €19,788 | €31,856 | ▲ 61.0% |
| Financial debts170/4 | - | - | €25,976 | €19,788 | €31,856 | ▲ 61.0% |
| Amounts payable within one year42/48 | €77,535 | €89,261 | €117,317 | €125,145 | €349,872 | ▲ 180% |
| Current portion of amounts payable after more than one year42 | - | - | €5,911 | €6,188 | €6,011 | ▼ 2.9% |
| Trade debts44 | €24,859 | €48,713 | €59,552 | €50,957 | €200,134 | ▲ 293% |
| Suppliers440/4 | - | €48,713 | €59,552 | €50,957 | €200,134 | ▲ 293% |
| Taxes, remuneration and social security45 | - | €31,690 | €46,888 | €62,064 | €29,756 | ▼ 52.1% |
| Taxes450/3 | - | €15,009 | €27,151 | €29,730 | €16,596 | ▼ 44.2% |
| Remuneration and social security454/9 | - | €16,681 | €19,737 | €32,335 | €13,160 | ▼ 59.3% |
| Other amounts payable47/48 | - | €8,858 | €4,967 | €5,936 | €113,971 | ▲ 1,820% |
| Accrued charges and deferred income492/3 | - | - | €115 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,249 | €2,754 | €19,969 | -€88,625 | -€52,988 | ▲ 40.2% |
| + Depreciation and write-downs630 | €6,246 | €1,107 | €1,783 | €10,174 | €11,831 | ▲ 16.3% |
| Operating cash flow (approximation) | -€21,004 | €3,861 | €21,752 | -€78,451 | -€41,157 | ▲ 47.5% |
| Investment in fixed assets (approximation) | - | €0 | -€46,447 | -€11,970 | -€145,423 | ▼ 1,115% |
| Change in cash | - | €11,471 | -€51,485 | -€20,945 | -€4,063 | ▲ 80.6% |
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
2026
04-09
Bankruptcy
Supervising judge replaced
Tribunal de l’entreprise de Liège, division Neufchâteau · event 19-06-2026
2025
30-10
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Neufchâteau · event 24-10-2025
14-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 45 days late
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-12
Financial
Weakest financial yearnet -€88,625
Net result drops to -€88,625, the lowest in the series.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100,000Eq €111,229 ▲21.9%
2 profitable years in a row build equity to €111,229.
23-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €2,754
Net result €2,754 after one loss-making year.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
2019
31-12
Financial
Highest result since 2018net €52,270 ▲153%
Operating result €69,638, net result €52,270, both a record.
Show earlier events
31-12
Financial
Equity above €100,000Eq €115,755 ▲82.3%
2 profitable years in a row build equity to €115,755.
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
08-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 8 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Marche-en-Famenne · 1 establishment unit since 2004
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Marche,Rue de la Plaine 96900 Marche-en-Famenne1 establishment unit
PUNCH COMMUNICATION
since 20042.135.427.779
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LAURA DEBATTY RUE DE LA GARE 10, 6980 LA
ROCHE-EN-ARDENNE |
24-10-2025 → present |
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Of 9,863 companies in sector 73110 we hold annual accounts for 3,759. 2,836 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
Founded16-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
82300Organisation of conventions and trade shows
Contact
Phone
084/311717Marche-en-Famenne
Fax
084/316556Marche-en-Famenne
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 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.