RENOVE-IT
InactiveRENOVE-IT was declared bankrupt on 12-09-2023 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed for insufficient assets by judgment of 13-08-2024, published in the Belgian State Gazette on 21-08-2024.
Summary
Inactive; 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 · 7 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline24-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 31-01-2023, 184 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
184 d late
2020
89 d late
2019
122 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Equity
€136k▲ 32.2%
2020 · €102k
2018: €23k
2019: €45k
2020: €102k
2018 → 2021
Total assets
€274k▲ 16.3%
2020 · €235k
2018: €80k
2019: €129k
2020: €235k
2018 → 2021
Net result
€33k▼ 42.7%
2020 · €58k
2018: €9k
2019: €22k
2020: €58k
2018 → 2021
Working capital
€134k▲ 32.4%
2020 · €101k
2018: €22k
2019: €43k
2020: €101k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€23k-€45k▲ 92.4%€102k▲ 129%€136k▲ 32.2%
Operating result€12k-€31k▲ 160%€80k▲ 154%€52k▼ 34.4%
Net result€9k-€22k▲ 144%€58k▲ 168%€33k▼ 42.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2021; 2021 is 34% below 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €274k
Fixed assets
€2k ▲ 17.2%
Current assets
€272k ▲ 16.3%
Equity and liabilities €274k
Equity
€136k ▲ 32.2%
Debt
€138k ▲ 4.1%
Debt's share of the balance-sheet total falls from 56.5% to 50.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€54k▼
2020 · €81k
Cash flow
€34k▼
2020 · €59k
Current ratio
1.97▲
2020 · 1.76
Debt to equity
1.02
ROE
24.4%▼
2020 · 56.3%
ROA
12.1%▼
2020 · 24.5%
Interest coverage
6.83
Debt ≤ 1 year
€138k▲
2020 · €133k
Income taxes
€14k▼
2020 · €22k
Staff costs
€87k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 42 lines
Balance sheet
Code20202021
Assets
Total assets20/58€235k€274k▲
Fixed assets21/28€1k€2k▲
Tangible fixed assets22/27€1k€2k▲
Furniture and vehicles24-€2k
Current assets29/58€234k€272k▲
Amounts receivable after more than one year29-€45k
Trade receivables290-€45k
Amounts receivable within one year40/41€161k€219k▲
Trade receivables40-€49k
Other amounts receivable41-€170k
Cash at bank and in hand54/58€17k€8k▼
Deferred charges and accrued income490/1-€199
Equity and liabilities
Total equity and liabilities10/49€235k€274k▲
Equity10/15€102k€136k▲
Contributions10/11-€19k
Reserves13€2k€2k=
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Profit (loss) carried forward14€82k€115k▲
Amounts payable17/49€133k€138k▲
Amounts payable within one year42/48€133k€138k▲
Trade debts44€62k€52k▼
Suppliers440/4-€52k
Advances received on contracts in progress46-€29k
Taxes, remuneration and social security45-€57k
Taxes450/3-€34k
Remuneration and social security454/9-€23k
Income statement
Code20202021
Remuneration, social security and pensions62-€87k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k▼
Other operating charges640/8-€2k
Gross operating margin9900€135k€142k▲
Operating profit (loss)9901€80k€52k▼
Financial income75/76B-€2k
Recurring financial income75€3k€2k▼
Financial charges65/66B-€8k
Recurring financial charges65€3k€8k▲
Profit (loss) for the period before taxes9903€80k€47k▼
Income taxes67/77€22k€14k▼
Profit (loss) for the period9904€58k€33k▼
Profit (loss) for the period to be appropriated9905€58k€33k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€115k
Profit (loss) brought forward from the previous period14P-€82k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
21-08
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Dendermonde · RENOVE-IT BV EICHEMSTRAAT(APP) 62, 9400 NINOVE · event 13-08-2024
2023
18-09
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · RENOVE-IT BV EICHEM- STRAAT(APP) 62, 9400 NINOVE · event 12-09-2023
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 184 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Highest result since 2018net €58k ▲168%
Operating result €80k, net result €58k, both a record.
31-12
Financial
Equity above €100kEq €102k ▲129%
3 profitable years in a row build equity to €102k.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
30-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 396 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MARGA PIETERS AFFLIGEMDREEF 144, 9300 AALST- |
12-09-2023 → 13-08-2024 |