SARTEC CONSTRUCT
InactiveSARTEC CONSTRUCT was declared bankrupt on 06-10-2022 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed by liquidation by judgment of 29-01-2024, published in the Belgian State Gazette on 05-02-2024.
No longer registered with the KBO; last annual accounts for fiscal year 2021.
Signals
Four 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 · 2 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline23-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 08-07-2022, 23 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
23 d early
2020
7 d early
← before the deadline
after the deadline →
Financials · fiscal year 2021, micro schema
Turnover
€921k▲ 72.3%
2020 · €535k
2020: €535k
2020 → 2021
EBIT margin
1.2%▼ 1.7pp
2020 · 2.9%
2020: 2.9%
2020 → 2021
Net result
€6k▼ 46.5%
2020 · €11k
2020: €11k
2020 → 2021
Working capital
€-17k▼ 64.4%
2020 · €-10k
2020: €-10k
2020 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021Trend
Turnover€535k-€921k▲ 72.3%
Equity€15k-€21k▲ 38.6%
Operating result€16k-€11k▼ 27.7%
Net result€11k-€6k▼ 46.5%
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 28% below 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €197k
Fixed assets
€43k▲ 69.9%
Current assets
€154k▲ 108%
Equity and liabilities €197k
Equity
€21k▲ 38.6%
Debt
€176k▲ 109%
The debt ratio rises from 84.9% to 89.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€20k▲
2020 · €17k
Cash flow
€14k▲
2020 · €12k
Solvency
10.6%▼
2020 · 15.1%
Current ratio
0.90▲
2020 · 0.88
Quick ratio
0.31▼
2020 · 0.76
Debt / equity
8.47
ROE
27.8%▼
2020 · 72.1%
ROA
2.9%▼
2020 · 10.9%
Interest coverage
4.46
Debt
€176k▲
2020 · €84k
Debt ≤ 1 year
€171k▲
2020 · €84k
Debt > 1 year
€5k
Income taxes
€1k▼
2020 · €2k
Staff costs
€307k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2021 against 2020
Balance sheet
Code20202021
Assets
Total assets20/58€99k€197k▲
Fixed assets21/28€25k€43k▲
Tangible fixed assets22/27€25k€43k▲
Plant, machinery and equipment23-€14k
Furniture and vehicles24-€29k
Current assets29/58€74k€154k▲
Stocks and contracts in progress3€10k€101k▲
Stocks30/36-€35k
Contracts in progress37-€66k
Amounts receivable within one year40/41€41k€51k▲
Trade receivables40-€32k
Other amounts receivable41-€19k
Cash at bank and in hand54/58€17k-
Deferred charges and accrued income490/1-€2k
Equity and liabilities
Total equity and liabilities10/49€99k€197k▲
Equity10/15€15k€21k▲
Contributions10/11-€5k
Reserves13€10k€16k▲
Non-distributable reserves130/1-€500
Reserves not available under the articles1311-€500
Distributable reserves133-€15k
Amounts payable17/49€84k€176k▲
Amounts payable after more than one year17-€5k
Financial debts170/4-€5k
Amounts payable within one year42/48€84k€171k▲
Current portion of amounts payable after more than one year42-€36k
Financial debts43-€10k
Credit institutions430/8-€10k
Trade debts44€53k€87k▲
Suppliers440/4-€87k
Taxes, remuneration and social security45-€33k
Taxes450/3-€9k
Remuneration and social security454/9-€24k
Other amounts payable47/48-€5k
Income statement
Code20202021
Turnover70€535k€921k▲
Goods, raw materials, services and sundry goods60/61-€591k
Remuneration, social security and pensions62-€307k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€9k▲
Other operating charges640/8-€4k
Gross operating margin9900€199k€331k▲
Operating profit (loss)9901€16k€11k▼
Financial income75/76B-€84
Recurring financial income75€11€84▲
Financial charges65/66B-€4k
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€13k€7k▼
Income taxes67/77€2k€1k▼
Profit (loss) for the period9904€11k€6k▼
Profit (loss) for the period to be appropriated9905€11k€6k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€6k
Transfer to equity691/2-€6k
To other reserves6921-€6k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
05-02
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Dendermonde · SARTEC CONSTRUCT BV DAMSTRAAT 21/D, 9230 WETTEREN · event 29-01-2024
2022
14-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · SARTEC CONSTRUCT BV DAMSTRAAT 21/D, 9230 WETTEREN · event 06-10-2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalNBB filing
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
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- |
06-10-2022 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 585 EUR awarded · 585 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 585 EUR | 585 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)