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SECOND TIME

Inactive
KBO/BCE: BE 0832.085.004

SECOND TIME was declared bankrupt on 12-08-2022 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed by liquidation by judgment of 19-12-2023, published in the Belgian State Gazette on 28-12-2023.

Summary

Inactive; last annual accounts for fiscal year 2018.

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SECOND TIMEInactive
Risk analysis Report Compare

Signals

Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Prior bankruptcy
Earlier bankruptcy on record in the Belgian State Gazette, no current open procedure.
Belgian State Gazette
neutral · No filing for years
The last filed financial year closed on 31-12-2018. Since then, 7 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 8 filings
Position against the passed deadline
31-12-2019 close31-07-2020 deadline26-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2018 was due by 31-07-2019 and was filed on 08-09-2020, 405 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 · 8 filings
Deviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline after the deadline →
tick = median of all Belgian filings

The Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

SECOND TIME has filed 8 sets of annual accounts, the latest for fiscal year 2018.1 The company was declared bankrupt on 12 August 2022; the bankruptcy was closed on 19 December 2023.23

  1. 1National Bank, annual accounts 2018
  2. 2Belgian State Gazette, 25-08-2022
  3. 3Belgian State Gazette, 28-12-2023

Financials · fiscal year 2018, micro schema

Turnover
€75,849
EBIT margin
12.8%
Net result
€6,062
Working capital
-€1,000

Turnover and EBIT margin not published: the micro schema does not require them.

Balance-sheet composition
Assets €102,484
Fixed assets €3,765
Current assets €98,719
Key figures and ratios
2018 value
EBITDA
€11,024
Cash flow
€7,362
Solvency
-8.2%
Current ratio
0.99
ROA
5.9%
Debt
€110,899
Debt ≤ 1 year
€99,719
Income taxes
€1,688
Annual accounts
Filed annual accounts As filed with the NBB · 2018 · 23 lines
Balance sheet Code2018
Assets
Total assets20/58€102,484
Fixed assets21/28€3,765
Intangible fixed assets21€2,600
Financial fixed assets28€1,165
Current assets29/58€98,719
Amounts receivable within one year40/41€88,612
Cash at bank and in hand54/58€9,535
Equity and liabilities
Total equity and liabilities10/49€102,484
Equity10/15-€8,415
Contributions10/11€12,400
Profit (loss) carried forward14-€20,815
Amounts payable17/49€110,899
Amounts payable within one year42/48€99,719
Trade debts44€13,624
Income statement Code2018
Turnover70€75,849
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,300
Gross operating margin9900€36,267
Operating profit (loss)9901€9,724
Recurring financial charges65€1,975
Profit (loss) for the period before taxes9903€7,749
Income taxes67/77€1,688
Profit (loss) for the period9904€6,062
Profit (loss) for the period to be appropriated9905€6,062
Line2018
Turnover70€75,849
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,300
Gross operating margin9900€36,267
Operating profit (loss)9901€9,724
Recurring financial charges65€1,975
Profit (loss) for the period before taxes9903€7,749
Income taxes67/77€1,688
Profit (loss) for the period9904€6,062
Profit (loss) for the period to be appropriated9905€6,062
Line2018
Assets
Total assets20/58€102,484
Fixed assets21/28€3,765
Intangible fixed assets21€2,600
Financial fixed assets28€1,165
Current assets29/58€98,719
Amounts receivable within one year40/41€88,612
Cash at bank and in hand54/58€9,535
Equity and liabilities
Total equity and liabilities10/49€102,484
Equity10/15-€8,415
Contributions10/11€12,400
Profit (loss) carried forward14-€20,815
Amounts payable17/49€110,899
Amounts payable within one year42/48€99,719
Trade debts44€13,624
Line2018
Profit (loss) for the period9904€6,062
+ Depreciation and write-downs630€1,300
Operating cash flow (approximation)€7,362

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2023
28-12
Bankruptcy Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 19-12-2023
2022
25-08
Bankruptcy Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 12-08-2022
2020
08-09
NBB filing Annual accounts filed
fiscal year 2018 · micro schema · 405 days late
08-09
NBB filing Annual accounts filed
fiscal year 2017 · micro schema · 770 days late
2017
31-08
NBB filing Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
16-06
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
23-06
NBB filing Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
19-06
NBB filing Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
18-11
NBB filing Annual accounts filed
fiscal year 2012 · abbreviated schema · 110 days late
2012
18-06
NBB filing Annual accounts filed
fiscal year 2011 · abbreviated schema
SignalNBB filing
0 of 7 acts read
About the unread acts

We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
7 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 GEERT DEFREYNE
met kantoor te 9000 Gent, Kortrijksesteenweg 361
 12-08-2022 → 19-12-2023

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