SAD
InactiveSAD was declared bankrupt on 20-01-2022 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed by liquidation by judgment of 02-01-2024, published in the Belgian State Gazette on 17-01-2024.
Summary
Inactive; last annual accounts for fiscal year 2019.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2019. Since then, 6 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
31-12-2020 close31-07-2021 deadline25-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2019 was due by 31-07-2020 and was filed on 06-11-2020, 98 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
98 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2019, micro schema
Equity
€12k▼ 21.0%
2018 · €15k
2018: €15k
2019: €12k▼ -21.0% vs 2018
2018 → 2019
Total assets
€12k▼ 29.9%
2018 · €17k
2018: €17k
2019: €12k▼ -29.9% vs 2018
2018 → 2019
Net result
€-3k▲ 82.9%
2018 · €-18k
2018: €-18k
2019: €-3k▲ +82.9% vs 2018
2018 → 2019
Working capital
€8k▼ 23.4%
2018 · €10k
2018: €10k
2019: €8k▼ -23.4% vs 2018
2018 → 2019
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019Trend
Equity€15k-€12k▼ 21.0%
2018: €15k
2019: €12k▼ -21.0% vs 2018
Operating result€-19k-€-3k▲ 83.8%
2018: €-19k
2019: €-3k▲ +83.8% vs 2018
Net result€-18k-€-3k▲ 82.9%
2018: €-18k
2019: €-3k▲ +82.9% vs 2018
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2019 against €19k in 2018; the loss shrinks.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €12k
Fixed assets
€4k ▼ 15.8%
Current assets
€8k ▼ 35.3%
Equity and liabilities €12k
Equity
€12k ▼ 21.0%
Debt
€194 ▼ 91.1%
Debt's share of the balance-sheet total falls from 12.7% to 1.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-2k▲
2018 · €-17k
Cash flow
€-2k▲
2018 · €-17k
Current ratio
41.30▲
2018 · 5.70
Quick ratio
33.90▲
2018 · 5.04
ROE
-26.6%▲
2018 · -122.7%
ROA
-26.2%▲
2018 · -107.1%
Debt ≤ 1 year
€194▼
2018 · €2k
Income taxes
€322
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 · 2019 against 2018 · 25 lines
Balance sheet
Code20182019
Assets
Total assets20/58€17k€12k▼
Fixed assets21/28€5k€4k▼
Tangible fixed assets22/27€1k€741▼
Financial fixed assets28€3k€3k=
Current assets29/58€12k€8k▼
Stocks and contracts in progress3€1k€1k=
Amounts receivable within one year40/41€8k€4k▼
Cash at bank and in hand54/58€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€17k€12k▼
Equity10/15€15k€12k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Profit (loss) carried forward14€-6k€-9k▼
Amounts payable17/49€2k€194▼
Amounts payable within one year42/48€2k€194▼
Trade debts44-€96
Income statement
Code20182019
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€741▼
Gross operating margin9900€-16k€-2k▲
Operating profit (loss)9901€-19k€-3k▲
Recurring financial income75€669€487▼
Recurring financial charges65€160€243▲
Profit (loss) for the period before taxes9903€-18k€-3k▲
Income taxes67/77-€322
Profit (loss) for the period9904€-18k€-3k▲
Profit (loss) for the period to be appropriated9905€-18k€-3k▲
Accounts by statement
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €741 | ▼ 49.2% |
| Gross operating margin9900 | €-16k | €-2k | ▲ 86.0% |
| Operating profit (loss)9901 | €-19k | €-3k | ▲ 83.8% |
| Recurring financial income75 | €669 | €487 | ▼ 27.2% |
| Recurring financial charges65 | €160 | €243 | ▲ 52.5% |
| Profit (loss) for the period before taxes9903 | €-18k | €-3k | ▲ 84.6% |
| Income taxes67/77 | - | €322 | - |
| Profit (loss) for the period9904 | €-18k | €-3k | ▲ 82.9% |
| Profit (loss) for the period to be appropriated9905 | €-18k | €-3k | ▲ 82.9% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €17k | €12k | ▼ 29.9% |
| Fixed assets21/28 | €5k | €4k | ▼ 15.8% |
| Tangible fixed assets22/27 | €1k | €741 | ▼ 50.0% |
| Financial fixed assets28 | €3k | €3k | = |
| Current assets29/58 | €12k | €8k | ▼ 35.3% |
| Stocks and contracts in progress3 | €1k | €1k | = |
| Amounts receivable within one year40/41 | €8k | €4k | ▼ 54.7% |
| Cash at bank and in hand54/58 | €3k | €3k | ▲ 2.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €17k | €12k | ▼ 29.9% |
| Equity10/15 | €15k | €12k | ▼ 21.0% |
| Contributions10/11 | €19k | €19k | = |
| Reserves13 | €2k | €2k | = |
| Profit (loss) carried forward14 | €-6k | €-9k | ▼ 56.1% |
| Amounts payable17/49 | €2k | €194 | ▼ 91.1% |
| Amounts payable within one year42/48 | €2k | €194 | ▼ 91.1% |
| Trade debts44 | - | €96 | - |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €-18k | €-3k | ▲ 82.9% |
| + Depreciation and write-downs630 | €1k | €741 | ▼ 49.2% |
| Operating cash flow (approximation) | €-17k | €-2k | ▲ 85.8% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | €62 | - |
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
2024
17-01
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 02-01-2024
2022
26-01
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 20-01-2022
2020
06-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 98 days late
05-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 218 days late
2019
31-12
Financial
Liquidity times 7current ratio 41.30
Current ratio from 5.70 to 41.30; short-term debt falls from €2k to €194.
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
17-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 260 days late
2017
24-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 297 days late
2015
27-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 27 days late
2014
28-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 28 days late
2013
30-08
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 30 days late
2012
17-08
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema · 17 days late
2011
30-09
NBB filing
Annual accounts filed
fiscal year 2010 · abbreviated schema · 61 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PHILIPPE TERMOTE COCKERILLKAAI 18,
2000 ANTWERPEN 1 |
20-01-2022 → 02-01-2024 |