SAXO LOUNGE
InactiveSAXO LOUNGE was declared bankrupt on 12-05-2023 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed for insufficient assets by judgment of 27-07-2023, published in the Belgian State Gazette on 03-08-2023.
No longer registered with the KBO; last annual accounts for fiscal year 2022.
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 31-03-2023, 3 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 · 5 filingsPosition against the passed deadline
31-03-2023 close31-10-2023 deadline23-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-03-2022 was due by 31-10-2022 and was filed on 15-12-2022, 45 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
45 d late
2021
38 d late
2020
107 d late
2019
281 d late
← before the deadline
after the deadline →
Financials · fiscal year 2022, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€-134k▼ 6.2%
2021 · €-126k
2019: €36k
2020: €-34k
2021: €-126k
2019 → 2022
Total assets
€54k▼ 70.9%
2021 · €185k
2019: €228k
2020: €228k
2021: €185k
2019 → 2022
Net result
€-8k▲ 91.5%
2021 · €-93k
2019: €-37k
2020: €-37k
2021: €-93k
2019 → 2022
Working capital
€-70k
2021 · €296
2019: €35k
2020: €4k
2021: €296
2019 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2019202020212022Trend
Equity€36k-€-34k€-126k▼ 276%€-134k▼ 6.2%
Operating result€-36k-€-36k=€-93k▼ 159%€-6k▲ 93.7%
Net result€-37k-€-37k=€-93k▼ 154%€-8k▲ 91.5%
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 €6k in 2022 against €93k in 2021; the loss shrinks.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €54k
Fixed assets
€18k▼ 74.5%
Current assets
€36k▼ 68.7%
Key figures and ratios
EBITDA
€9k▲
2021 · €-51k
Cash flow
€7k▲
2021 · €-51k
Solvency
-249.2%▼
2021 · -68.4%
Current ratio
0.34▼
2021 · 1.00
Quick ratio
0.17▼
2021 · 0.41
Debt / equity
-1.40▼
2021 · -0.79
ROA
-14.6%▲
2021 · -50.2%
Interest coverage
4.35
Debt
€188k▼
2021 · €220k
Debt ≤ 1 year
€106k▼
2021 · €115k
Debt > 1 year
€78k▼
2021 · €100k
Staff costs
€14k
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 · 2022 against 2021
Balance sheet
Code20212022
Assets
Total assets20/58€185k€54k▼
Formation expenses20€0-
Fixed assets21/28€70k€18k▼
Intangible fixed assets21€3k€2k▼
Tangible fixed assets22/27€60k€9k▼
Plant, machinery and equipment23-€2k
Furniture and vehicles24-€3k
Other tangible fixed assets26-€4k
Financial fixed assets28€7k€7k=
Current assets29/58€115k€36k▼
Stocks and contracts in progress3€68k€18k▼
Stocks30/36-€18k
Amounts receivable within one year40/41€44k€9k▼
Trade receivables40-€3k
Other amounts receivable41-€6k
Current investments50/53€0-
Cash at bank and in hand54/58€7k€9k▲
Deferred charges and accrued income490/1-€0
Equity and liabilities
Total equity and liabilities10/49€185k€54k▼
Equity10/15€-126k€-134k▼
Contributions10/11-€25k
Reserves13€530€530=
Non-distributable reserves130/1-€530
Reserves not available under the articles1311-€530
Profit (loss) carried forward14€-152k€-160k▼
Amounts payable17/49€220k€188k▼
Amounts payable after more than one year17€100k€78k▼
Financial debts170/4-€78k
Amounts payable within one year42/48€115k€106k▼
Current portion of amounts payable after more than one year42-€10k
Trade debts44€33k€40k▲
Suppliers440/4-€40k
Taxes, remuneration and social security45-€8k
Taxes450/3-€3k
Remuneration and social security454/9-€5k
Other amounts payable47/48-€48k
Accrued charges and deferred income492/3-€4k
Income statement
Code20212022
Remuneration, social security and pensions62-€14k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€15k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0
Other operating charges640/8-€3k
Non-recurring operating charges66A-€442
Gross operating margin9900€58k€26k▼
Operating profit (loss)9901€-93k€-6k▲
Financial income75/76B-€130
Recurring financial income75€2k€130▼
Financial charges65/66B-€2k
Recurring financial charges65€4k€2k▼
Profit (loss) for the period before taxes9903€-93k€-8k▲
Income taxes67/77€0-
Profit (loss) for the period9904€-93k€-8k▲
Profit (loss) for the period to be appropriated9905€-93k€-8k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€-160k
Profit (loss) brought forward from the previous period14P-€-152k
Return on contributions (dividend)694€0-
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2023
03-08
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Dendermonde · SAXO LOUNGE BV KEIZERSPLEIN 9, 9300 AALST · event 27-07-2023
22-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · SAXO LOUNGE BV KEIZERS- PLEIN 9, 9300 AALST · event 12-05-2023
2022
15-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 45 days late
2021
08-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 38 days late
31-03
Financial
Weakest financial yearnet €-93k
Net result drops to €-93k, the lowest in the series.
15-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 107 days late
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 281 days late
2019
04-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 96 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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- |
12-05-2023 → present |