Active BE 0415.550.572Public limited companyOpen bankruptcy

REKAD

Geelseweg(HRT) 47A ·2200 Herentals, Belgium· 50 yrs active

Sector: Uitgeven van tijdschriften (58130)

Conclusion Checked

A bankruptcy procedure is open for REKAD according to publications in the Belgian State Gazette. The 2021 annual accounts show negative equity (€-507k) and a net result of €-301k.

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€-507k
Net result	€-301k
Staff (FTE)	6.6
Better than sector	13%

Snowflake analysis 5 of 5 axes measured · computed by Checked

34 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0

Profitability 100

Solvency 37

Growth 32

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High riskRegister: open bankruptcy

This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.

Components

· Open bankruptcy (+50)

Trust signals 2 signals

Register: open bankruptcy

The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2021 · computed

0 / 100 Critical

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

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Computed by Checked from the NBB filing for FY 2021 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 31-08-2022 with the NBB · fiscal year 2021 · verkort

Operating resultNet result

Sector comparison

Fiscal year 2021 · NACE 58 · compared across all schema types (micro, abbreviated and full combined)

Metric	This company	Sector median	Position in the sector
Solvency	-49.8%	31.6%	better than 13% of 127 sector peers
Net result	€-301k	€4k	better than 5% of 127 sector peers
Equity	€-507k	€25k	better than 5% of 127 sector peers
Gross operating margin	€104k	€23k	better than 76% of 119 sector peers
Staff costs	€346k	€182k	higher than 70% of 48 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€-246k

-64.1% 18-21

Net profit

€-301k

-10.1% 18-21

Cash flow

€-269k

-21.3% 18-21

Total assets

€1.02M

-15.5% 18-21

Equity

€-507k

-146.7% 18-21

Working capital

€-485k

-80.9% 18-21

Employees (FTE)

7

-12.0% 18-21

Staff costs

€346k

- 18-21

Income taxes

€948

+1.3% 18-21

Debt

€1.52M

+8.2% 18-21

Debt ≤ 1y

€1.44M

+4.6% 18-21

Debt > 1y

€89k

+179.1% 18-21

Current ratio

0.66

-17.7% 18-21

Quick ratio

0.64

-18.4% 18-21

Solvency

-49.8%

-191.8% 18-21

Debt / equity

-3.01

-1845.7% 18-21

ROE

59.5%

-55.4% 18-21

ROA

-29.6%

-30.2% 18-21

Interest coverage

-10.67

- 18-21

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2021
Deposit	verkort
Revenue	-
EBITDA	€-246k
Net profit	€-301k
Cash flow	€-269k
Staff costs	€346k
Income taxes	€948
Dividends	-
Total assets	€1.02M
Equity	€-507k
Debt	€1.52M
of which ≤ 1y	€1.44M
of which > 1y	€89k
Working capital	€-485k
Employees (FTE)	6.6

Ratios (computed)

	2021
Current ratio	0.66
Quick ratio	0.64
Working capital ratio	-47.7%
Solvency	-49.8%
Debt / equity	-3.01
Long-term debt ratio	-0.18
Interest coverage	-10.67
Gross margin	-
Net margin	-
ROA	-29.6%
ROE	59.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2021

Assets

Fixed assets €67k · 6.6% Current assets €951k · 93.4%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.02M
Fixed assets	21/28	€67k
Intangible fixed assets	21	€26k
Tangible fixed assets	22/27	€33k
Financial fixed assets	28	€8k
Current assets	29/58	€951k
Stocks & contracts in progress	3	€36k
Amounts receivable within one year	40/41	€858k
Investments	50/53	€123
Cash & bank	54/58	€24k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.02M
Equity	10/15	€-507k
Contributions / capital	10/11	€62k
Reserves	13	€6k
Accumulated profits (losses)	14	€-575k
Amounts payable	17/49	€1.52M
Amounts payable after one year	17	€89k
Amounts payable within one year	42/48	€1.44M
Trade debts payable within one year	44	€1.08M
Income statement
Gross operating margin	9900	€104k
Operating result	9901	€-279k
Financial income	75	€1k
Financial charges	65	€23k
Result before taxes	9903	€-300k
Income taxes	67/77	€948
Net result for the period	9904	€-301k
Result to be appropriated	9905	€-301k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	BART MANNAERT GERHEIDEN 66, 2250 OLEN- ↔ Also on 41 other cases	30-05-2023 → present	Belgian State Gazette

Legal Structure

NACE primary	Uitgeven van tijdschriften(58130)
Legal form	Public limited company(014)
Incorporation	12-11-1975
Status	Active
Postal code	2200
First BS signal	06-06-2023
Latest BS signal	06-06-2023

Establishment units 1 location

Geelseweg(HRT) 47A, 2200 Herentals

Detailhandel in boeken, kranten, tijdschriften en kantoorbehoeften in gespecialiseerde winkels

since 19802.037.920.510

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13302C0498/00A002	Flanders	1,744 m²	-	-

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023

06-06-2023

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · REKAD NV GEELSEWEG 47A, 2200 HERENTALS · event 30-05-2023

2022

31-08-2022