Final months
521 days from reorganisation to bankruptcy
RACK SYSTEM
Overview
Information for creditors
Enterprise Court of Hainaut · Official Gazette of 28-06-2023Opened on 22 June 2023 · extended on 21 September 2023 · moratorium passed on 30 November 2023
Steps, deadlines and articles of law
The procedure
- Track
- Reorganisation by transfer under court supervision
- Docket number
- 20220057
- Moratorium until
- 30 November 2023 (passed, unless a later judgment extended it)
- Delegated judge
- Eric Bedoret
- Official Gazette
- 28-06-2023search the document for 2023/125677
- Extension
- judgment of 21 September 2023, Official Gazette 27-09-2023search the document for 2023/135070
Steps for a creditor
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- A court officer sells the business or part of it. Creditors are paid from the proceeds, according to their ranking.
- What you deliver after the opening is not covered by the moratorium. Agree clear payment terms for it.
- The file is in RegSol, where you can read the documents of the procedure.
The judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette.
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
Follow
Follow this reorganisation and you are notified of an extension, the court's approval, the closure or a bankruptcy.
This is general information, not legal advice. If in doubt, your lawyer or your accountant can help.
Lifetime
1 annual account with figurespeak €161,773 (2023)
€161,773
lowest -€216,408 (2023)
-€216,408
peak -€306,067 (2023)
-€306,067
€308,215
Board3 names since 2020
-
Documentsfilings and deeds
26-08-202426 days late
2023abbreviated format
Extension 27-09Extension 28-06Transfer under judicial authority 08-05Judicial reorganisation opened 25-01Loss of €216,408First year with figures
Key points
from the 2023 annual accounts, the last ones filedNo score
Recent changes
Bankruptcy closure (by liquidation)
Enterprise Court of Hainaut, Charleroi division · judgment of 15-12-2025 · Bankruptcy
Bankruptcy published
Enterprise Court of Hainaut, Charleroi division · judgment of 24-06-2024 · Bankruptcy
Dissolution of the company
Dissolved on 29-03-2024, in liquidation · Liquidator: Jean-François LIEGEOIS · Appointments: ANDRE Evelyne (company auditor) and Jean-François LIEGEOIS (liquidator) · General meeting of 29-03-2024 · Gazette deed
Extension
Enterprise Court of Hainaut · court-supervised transfer · judgment of 21-09-2023 · Judicial reorganisation
Official details
Source: KBO- Status
- Dissolved on 29-03-2024deed of 23-04-2024
- Activity
- “Toute activité liée au montage métallique” (deed in French)From the articles, 12 activitiesNo NACE code in the KBO yet
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2023
- €161,773
- €216,408
- -€306,067
- €2,147
- ≈ 3.7 FTEestimated
- Filing
- Filed on 26-08-2024
Insights on RACK SYSTEM
On 20 January 2023 the court opened a judicial reorganisation. 521 days later came the bankruptcy.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2023
abbreviated format, filed on 26-08-2024, 26 days late€161,773
-€216,177
-€207,811
-€208,042
-
-
Money flows
turnover is 42.3% of income in 2023Balance sheet
balance sheet total €2,147 on 31-12-2023What the company ownsHow it is paid for
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2023 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
2,147 | |
29/58 |
2,147 | |
54/58 |
2,147 | |
| Balance sheet: equity and liabilities | ||
10/49 |
2,147 | |
10/15 |
-306,067 | |
10/11 |
6,000 | |
10 |
6,000 | |
100 |
6,000 | |
14 |
-312,067 | |
17/49 |
308,215 | |
42/48 |
308,215 | |
44 |
35,836 | |
440/4 |
35,836 | |
45 |
268,288 | |
450/3 |
143,838 | |
454/9 |
124,450 | |
47/48 |
4,091 | |
| Income statement | ||
70 |
161,773 | |
9900 |
34,078 | |
60/61 |
131,647 | |
62 |
205,719 | |
630 |
8,366 | |
631/4 |
14,994 | |
640/8 |
21,177 | |
9901 |
-216,177 | |
75/76B |
18 | |
75 |
18 | |
65/66B |
249 | |
65 |
249 | |
9903 |
-216,408 | |
9904 |
-216,408 | |
9905 |
-216,408 | |
| Appropriation of the result | ||
9906 |
-312,067 | |
14P |
-95,659 | |
| Document | ||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2023 at the NBB, filed on 26-08-2024.
Filings
each dot is a set of accounts, on the day it reached the National Bank2023 annual accounts filed 26 days after the deadline. Filed on 26 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00390535.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 26-08-2024 | 2024-00390535 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2023 |
|---|---|---|
| -207,811 | ||
| -208,042 | ||
| -306,067 | ||
| -835.59 | ||
| 99 days |
EBIT margin. Not meaningful: turnover is only a small part of operating income.
The ratios are withheld because a balance sheet total of €2,147 is too small for a meaningful ratio.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Insights on RACK SYSTEM
Equity is negative. Debt (€308,215) exceeds the balance-sheet total (€2,147).
Board & ownership
Curator
1 mandateCurator, Rue De Robiano 62, 7130 Binche
from 24-06-2024 to 15-12-2025
Also on 72 other cases
Last board
1 office holder, 1 auditor, no change since 2024Mandates through the years
3 names, the dashed line is todayANDRE Evelyne
Company auditor
Company auditor
Jean-François LIEGEOIS
Liquidator
Liquidator
TOPAL Mehmet
Director (not named in the articles)
Director (not named in the articles)
Other functionEarlierend not datedBankruptcy 24-06-2024
Mandates as a list
- ANDRE Evelyne
- Company auditor, appointed by deed of 23-04-2024, until the bankruptcy of 24-06-2024
- Jean-François LIEGEOIS
- Liquidator, appointed by deed of 23-04-2024, until the bankruptcy of 24-06-2024
- TOPAL Mehmet
- Director (not named in the articles), appointed by deed of 30-04-2020, last mentioned in 2020
Control
Capital
- Capital
- €6,000
- Shares
- 100
- Contribution per share
- €60
- Equity per share
- -€3,061 in 2023
- Source
- deed of 30-04-2020
Articles of association
deed of 30-04-2020 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Tuesday of May
Founder
At incorporation
deed of 30-04-2020 ↗
- TOPAL Mehmet sole founder · 100% at incorporation
Network & group
No group
RACK SYSTEM has no parent and no holdings in its annual accounts. RACK SYSTEM shares no director with another company.
Timeline
Timeline
9 events since 2020Board
Filings
End and insolvency
2020202220242026
2025
Bankruptcy closure (by liquidation) Enterprise Court of Hainaut, Charleroi division · judgment of 15-12-2025
2024
Annual accounts 2023 filed NBBabbreviated format · 26 days late
Bankruptcy published Enterprise Court of Hainaut, Charleroi division · judgment of 24-06-2024
Dissolution of the companyDissolved on 29-03-2024, in liquidation · Liquidator: Jean-François LIEGEOIS · Appointments: ANDRE Evelyne (company auditor) and Jean-François LIEGEOIS (liquidator) · General meeting of 29-03-20246 points ▸
- General meeting, 29-03-2024
- Auditor appointment, ANDRE Evelyne (company auditor)
- Director appointment, Jean-François LIEGEOIS (liquidator)
- Power of attorney, Jean-François LIEGEOIS
- Power of attorney, TOPAL Mehmet
- Net-asset statement, 31-12-2023
- The deed holds 4 more points.
2023
Extension Enterprise Court of Hainaut · court-supervised transfer · judgment of 21-09-2023
Extension Enterprise Court of Hainaut · court-supervised transfer · judgment of 22-06-2023
Transfer under judicial authority Enterprise Court of Hainaut · court-supervised transfer
Judicial reorganisation opened Enterprise Court of Hainaut · collective agreement · judgment of 20-01-2023
2020
IncorporationFounding capital of €6,000, 100 shares · Founder: TOPAL Mehmet · Appointment: TOPAL Mehmet (director)6 points ▸
- Founder, TOPAL Mehmet
- Founding capital, €6,000, 100 shares
- Incorporation, 23-04-2020
- Registered office clause, Anderlues, rue de Nivelles, 265 A1
- Board rule, 1
- Director appointment, TOPAL Mehmet (director (not named in the articles))
- The deed holds 4 more points.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Purpose, financial year and meetings according to the articles of association
Name, seat, purpose and duration
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Toute activité liée au montage métallique; L’achat,la vente,l’échange,l’exploitation,la location,la rénovation,la construction et la…”
12 activities
- Toute activité liée au montage métallique
- L’achat,la vente,l’échange,l’exploitation,la location,la rénovation,la construction et la démolition,la gérance et la mise en valeur de tout immeuble bâti,meublé ou non à l’exception de l’activité d’agent immobilier sensu stricto,en ce compris les travaux de désamiantage
- L’achat,la vente,l’échange,la mise en valeur,le lotissement,l’exploitation,la location et l’affermage de tout immeuble non bâti à l’exception de l’activité d’agent immobilier sensu stricto
- L’exploitation d’établissements Horeca de type snacks,tavernes ou cafés
- Tout travaux de menuiserie en ce compris la pose de châssis
- Mise à disposition de jeux de hasard,de loterie et jeux de café placés ou fournis par des organismes agréés ainsi que l’organisation de paris sportifs,sous réserve des licences et autorisations à obtenir,exploitation de magasins d’alimentation générale et superettes
- Achat et vente de cigarettes,tabacs et produits dérivés
- Commerce de tous produits en matière de téléphonie:GSM,abonnements,cartes,…ainsi que la réparation de matériel
- Achat et vente de pneus neufs ou d’occasion,de même que le montage et le démontage de pneus sur tous véhicules
- Activités de nettoyage de tous locaux ou espaces privés ou commerciaux ainsi que de véhicules
- Exploitation de stations-service et de librairies
- Locations de films,programmes et autres produits audiovisuels sur tous supports
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
General meeting and financial year
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Tuesday of May
Articles of association, deed of 30-04-2020 (in French)
Inactive
Dissolved on 29 March 2024
RACK SYSTEM is no longer in the KBO register.
- Status
- Inactive
- Reason
- Dissolved and put into liquidationBelgian Official Gazette, 23 April 2024 · deed
- Last annual accounts
- financial year to 31 December 2023
- Last registered office
- Rue De Nivelles 265, Bte A1, 6150 Anderluesas published on 23 April 2024
- Legal form
- Private limited company
- First annual accounts
- financial year 2023