SALZAR
InactiveSALZAR was declared bankrupt on 31-10-2022 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed for insufficient assets by judgment of 09-05-2023, published in the Belgian State Gazette on 16-05-2023.
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 · 3 filingsPosition against the passed deadline
31-12-2020 close31-07-2021 deadline30-09-2026 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 18-11-2020, 110 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
110 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its 2019 accounts 110 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
Financials · fiscal year 2019, micro schema
Turnover
€11,175
EBIT margin
-158.7%
Net result
-€17,809▲ 16.2%
2018 · -€21,244
Working capital
-€49,273▼ 43.5%
2018 · -€34,329
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
Line20182019
Turnover€11,175
Operating result-€21,182--€17,734▲ 16.3%
Net result-€21,244--€17,809▲ 16.2%
EBIT margin-158.7%
Equity-€12,564--€30,373▼ 142%
Total assets€30,094-€19,263▼ 36.0%
Debt€42,658-€49,636▲ 16.4%
Working capital-€34,329--€49,273▼ 43.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €17,734 in 2019 against €21,182 in 2018; the loss shrinks.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €19,263
Fixed assets
€18,900 ▼ 13.2%
Current assets
€363 ▼ 95.6%
Key figures and ratios
EBITDA
-€14,868▲
2018 · -€18,317
Cash flow
-€14,943▲
2018 · -€18,379
Solvency
-157.7%▼
2018 · -41.7%
Current ratio
0.01▼
2018 · 0.20
ROA
-92.4%▼
2018 · -70.6%
Debt ≤ 1 year
€49,636▲
2018 · €42,658
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Turnover70 | - | €11,175 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,865 | €2,866 | = |
| Gross operating margin9900 | -€5,434 | -€7,323 | ▼ 34.8% |
| Operating profit (loss)9901 | -€21,182 | -€17,734 | ▲ 16.3% |
| Recurring financial charges65 | €63 | €74 | ▲ 18.8% |
| Profit (loss) for the period before taxes9903 | -€21,244 | -€17,809 | ▲ 16.2% |
| Profit (loss) for the period9904 | -€21,244 | -€17,809 | ▲ 16.2% |
| Profit (loss) for the period to be appropriated9905 | -€21,244 | -€17,809 | ▲ 16.2% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €30,094 | €19,263 | ▼ 36.0% |
| Fixed assets21/28 | €21,765 | €18,900 | ▼ 13.2% |
| Intangible fixed assets21 | €21,600 | €18,900 | ▼ 12.5% |
| Tangible fixed assets22/27 | €165 | - | - |
| Current assets29/58 | €8,329 | €363 | ▼ 95.6% |
| Stocks and contracts in progress3 | €1,052 | - | - |
| Amounts receivable within one year40/41 | €6,791 | €299 | ▼ 95.6% |
| Cash at bank and in hand54/58 | €485 | €64 | ▼ 86.9% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €30,094 | €19,263 | ▼ 36.0% |
| Equity10/15 | -€12,564 | -€30,373 | ▼ 142% |
| Contributions10/11 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€31,164 | -€48,973 | ▼ 57.1% |
| Amounts payable17/49 | €42,658 | €49,636 | ▲ 16.4% |
| Amounts payable within one year42/48 | €42,658 | €49,636 | ▲ 16.4% |
| Trade debts44 | €3,942 | €1,599 | ▼ 59.4% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€21,244 | -€17,809 | ▲ 16.2% |
| + Depreciation and write-downs630 | €2,865 | €2,866 | = |
| Operating cash flow (approximation) | -€18,379 | -€14,943 | ▲ 18.7% |
| Investment in fixed assets (approximation) | - | -€1 | - |
| Change in cash | - | -€422 | - |
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
2023
16-05
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise francophone de Bruxelles · event 09-05-2023
2022
07-11
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 31-10-2022
2020
18-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 110 days late
2019
20-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
SignalNBB filing
0 of 5 acts read
About the unread acts
We know of 5 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
5 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LUC LEMAIRE AVENUE LOUISE 486 BTE 6,
1050 FR BRUXELLES 5 |
31-10-2022 → 09-05-2023 |