QUALITY BELGIUM CONSTRUCT
Open bankruptcyA bankruptcy procedure is open for QUALITY BELGIUM CONSTRUCT according to publications in the Belgian State Gazette; curator: PHILIP GHEKIERE.
Summary
The 2021 annual accounts show equity of €573,571 and a net result of €449,475.
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 Ghent, Kortrijk division
- Declared bankrupt
- 20 February 2024
- Supervising judge
- Jan Voet
- Official Gazette
- 26-02-2024 (pdf) ↗search the document for 2024/107710
Deadlines
- Provisional date payments stopped
- 20 February 2024A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 12 March 2024Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 21 March 2024art. XX.104 and XX.155 CEL
- First verification report
- passed on 9 April 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 20 February 2025Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Philip GhekiereKoning Albertstraat 24 Bus 1, 8500 Kortrijkphilip@lvda.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
Three 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 31-08-2022, 31 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
31 d late
2020
88 d late
2019
118 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 79 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)
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 2021, micro schema
Turnover
€2.4m▲ 90.7%
2020 · €1.3m
EBIT margin
25.5%▲ 14.6pp
2020 · 11.0%
Net result
€449,475▲ 331%
2020 · €104,323
Working capital
€558,629▲ 428%
2020 · €105,848
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€329,175-€822,242▲ 150%€1.3m▲ 53.5%€2.4m▲ 90.7%
Operating result€4,928-€17,207▲ 249%€138,651▲ 706%€614,599▲ 343%
Net result€3,811-€14,962▲ 293%€104,323▲ 597%€449,475▲ 331%
EBIT margin1.5%-2.1%▲ 0.6pp11.0%▲ 8.9pp25.5%▲ 14.6pp
Equity€4,811-€19,773▲ 311%€124,096▲ 528%€573,571▲ 362%
Total assets€51,079-€446,745▲ 775%€740,690▲ 65.8%€1.1m▲ 49.7%
Debt€46,268-€426,972▲ 823%€616,594▲ 44.4%€535,500▼ 13.2%
Working capital-€1,748-€15,194€105,848▲ 597%€558,629▲ 428%
Why a figure moved sharply
- 2020 Turnover +53% on 2019. The accounts now follow the micro schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2021 is 343% above 2020 and is the highest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €1.1m
Fixed assets
€36,905 ▼ 27.5%
Current assets
€1.1m ▲ 55.4%
Equity and liabilities €1.1m
Equity
€573,571 ▲ 362%
Debt
€535,500 ▼ 13.2%
Debt's share of the balance-sheet total falls from 83.2% to 48.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€628,591▲
2020 · €146,823
Cash flow
€463,466▲
2020 · €112,495
Current ratio
2.09▲
2020 · 1.18
Debt to equity
0.93▲
2020 · 0.26
ROE
78.4%▼
2020 · 84.1%
ROA
40.5%▲
2020 · 14.1%
Interest coverage
243.40
Debt ≤ 1 year
€513,537▼
2020 · €583,945
Debt > 1 year
€19,963▼
2020 · €32,649
Income taxes
€164,071▲
2020 · €33,358
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 | €329,175 | €822,242 | €1.3m | €2.4m | ▲ 90.7% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €1.8m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,000 | €8,196 | €8,172 | €13,991 | ▲ 71.2% |
| Other operating charges640/8 | - | - | - | €1,904 | - |
| Gross operating margin9900 | €12,205 | €26,202 | €152,023 | €630,495 | ▲ 315% |
| Operating profit (loss)9901 | €4,928 | €17,207 | €138,651 | €614,599 | ▲ 343% |
| Financial income75/76B | - | - | - | €1,529 | - |
| Recurring financial income75 | - | €20 | €1 | €1,529 | ▲ 224,712% |
| Financial charges65/66B | - | - | - | €2,583 | - |
| Recurring financial charges65 | €147 | €491 | €971 | €2,583 | ▲ 166% |
| Profit (loss) for the period before taxes9903 | €4,781 | €18,901 | €137,680 | €613,546 | ▲ 346% |
| Income taxes67/77 | €970 | €3,938 | €33,358 | €164,071 | ▲ 392% |
| Profit (loss) for the period9904 | €3,811 | €14,962 | €104,323 | €449,475 | ▲ 331% |
| Profit (loss) for the period to be appropriated9905 | €3,811 | €14,962 | €104,323 | €449,475 | ▲ 331% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €51,079 | €446,745 | €740,690 | €1.1m | ▲ 49.7% |
| Fixed assets21/28 | €8,959 | €4,579 | €50,896 | €36,905 | ▼ 27.5% |
| Tangible fixed assets22/27 | €8,959 | €4,579 | €50,711 | €36,720 | ▼ 27.6% |
| Plant, machinery and equipment23 | - | - | - | €0 | - |
| Furniture and vehicles24 | - | - | - | €36,720 | - |
| Financial fixed assets28 | - | - | €185 | €185 | = |
| Current assets29/58 | €42,120 | €442,166 | €689,794 | €1.1m | ▲ 55.4% |
| Amounts receivable within one year40/41 | €34,936 | €387,668 | €587,405 | €947,094 | ▲ 61.2% |
| Trade receivables40 | - | - | - | €337,604 | - |
| Other amounts receivable41 | - | - | - | €609,491 | - |
| Cash at bank and in hand54/58 | €1,967 | €4,693 | €23,219 | €107,671 | ▲ 364% |
| Deferred charges and accrued income490/1 | - | - | - | €17,400 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €51,079 | €446,745 | €740,690 | €1.1m | ▲ 49.7% |
| Equity10/15 | €4,811 | €19,773 | €124,096 | €573,571 | ▲ 362% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Capital10 | - | - | - | €0 | - |
| Issued capital100 | - | - | - | €0 | - |
| Outside capital11 | - | - | - | €1,000 | - |
| Other1109/19 | - | - | - | €1,000 | - |
| Reserves13 | €953 | €4,702 | €4,702 | €4,702 | = |
| Non-distributable reserves130/1 | - | - | - | €4,702 | - |
| Reserves not available under the articles1311 | - | - | - | €4,702 | - |
| Profit (loss) carried forward14 | €2,858 | €14,071 | €118,394 | €567,868 | ▲ 380% |
| Amounts payable17/49 | €46,268 | €426,972 | €616,594 | €535,500 | ▼ 13.2% |
| Amounts payable after more than one year17 | - | - | €32,649 | €19,963 | ▼ 38.9% |
| Financial debts170/4 | - | - | - | €19,963 | - |
| Amounts payable within one year42/48 | €43,868 | €426,972 | €583,945 | €513,537 | ▼ 12.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,686 | - |
| Trade debts44 | €35,039 | €422,452 | €534,148 | €302,692 | ▼ 43.3% |
| Suppliers440/4 | - | - | - | €302,692 | - |
| Taxes, remuneration and social security45 | - | - | - | €198,160 | - |
| Taxes450/3 | - | - | - | €198,160 | - |
| Accrued charges and deferred income492/3 | - | - | - | €2,000 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,811 | €14,962 | €104,323 | €449,475 | ▲ 331% |
| + Depreciation and write-downs630 | €7,000 | €8,196 | €8,172 | €13,991 | ▲ 71.2% |
| Operating cash flow (approximation) | €10,812 | €23,159 | €112,495 | €463,466 | ▲ 312% |
| Investment in fixed assets (approximation) | - | -€3,817 | -€54,489 | €0 | ▲ 100% |
| Change in cash | - | €2,726 | €18,526 | €84,453 | ▲ 356% |
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
08-09
Bankruptcy
Supervising judge replaced
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 02-09-2025
2024
26-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 20-02-2024
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €449,475 ▲331%
Operating result €614,599, net result €449,475, both a record.
31-12
Financial
Equity above €500,000Eq €573,571 ▲362%
4 profitable years in a row build equity to €573,571.
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 88 days late
2020
31-12
Financial
Equity above €100,000Eq €124,096 ▲528%
3 profitable years in a row build equity to €124,096.
26-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 118 days late
2019
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 63 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Menen · 1 establishment unit since 2018
Ground area
1,279 m²
Building footprint
423 m²
Volume, LiDAR
2,778 m³
2 parcels, Brussels, Flanders · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
QUALITY BELGIUM CONSTRUCT
since 20182.271.664.873
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34024B0291/00E003 | Flanders | 1,062 m² | 1 · 346 m² | 12.3 m · 1 fl. |
| 21816G0111/00B003 | Brussels | 217 m² | 1 · 77 m² | 12.4 m · 3 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 | PHILIP GHEKIERE KONING ALBERTSTRAAT 24 BUS 1,
8500 KORTRIJK |
20-02-2024 → present |
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded29-12-2017
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 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.