SECOREX
InactiveSECOREX was declared bankrupt on 22-06-2023 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed for insufficient assets by judgment of 11-02-2025, published in the Belgian State Gazette on 24-02-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three 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 · 5 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 17-10-2022, 78 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 confirmed
2024
not filed
2023
not filed
2022
not filed
2021
78 d late
2020
89 d late
2019
126 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Equity
€61k▲ 1.3%
2020 · €60k
2018: €11klowest in 4 years
2019: €22k▲ +105% vs 2018
2020: €60k▲ +173% vs 2019
2021: €61k▲ +1.3% vs 2020highest in 4 years
2018 → 2021
Total assets
€178k▲ 20.1%
2020 · €148k
2018: €20klowest in 4 years
2019: €58k▲ +188% vs 2018
2020: €148k▲ +156% vs 2019
2021: €178k▲ +20.1% vs 2020highest in 4 years
2018 → 2021
Net result
€776▼ 98.0%
2020 · €38k
2018: €25k
2019: €11k▼ -54.2% vs 2018
2020: €38k▲ +237% vs 2019highest in 4 years
2021: €776▼ -98.0% vs 2020lowest in 4 years
2018 → 2021
Working capital
€57k▲ 19.8%
2020 · €48k
2018: €3klowest in 4 years
2019: €8k▲ +155% vs 2018
2020: €48k▲ +510% vs 2019
2021: €57k▲ +19.8% vs 2020highest in 4 years
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€11k-€22k▲ 105%€60k▲ 173%€61k▲ 1.3%
2018: €11klowest in 4 years
2019: €22k▲ +105% vs 2018
2020: €60k▲ +173% vs 2019
2021: €61k▲ +1.3% vs 2020highest in 4 years
Operating result€25k-€25k▼ 1.0%€55k▲ 123%€4k▼ 92.1%
2018: €25k
2019: €25k▼ -1.0% vs 2018
2020: €55k▲ +123% vs 2019highest in 4 years
2021: €4k▼ -92.1% vs 2020lowest in 4 years
Net result€25k-€11k▼ 54.2%€38k▲ 237%€776▼ 98.0%
2018: €25k
2019: €11k▼ -54.2% vs 2018
2020: €38k▲ +237% vs 2019highest in 4 years
2021: €776▼ -98.0% vs 2020lowest in 4 years
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 92% below 2020 and is the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €178k
Fixed assets
€4k ▼ 68.1%
Current assets
€174k ▲ 28.4%
Equity and liabilities €178k
Equity
€61k ▲ 1.3%
Debt
€116k ▲ 33.0%
Debt's share of the balance-sheet total rises from 59.2% to 65.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€7k▼
2020 · €69k
Cash flow
€4k▼
2020 · €52k
Current ratio
1.49▼
2020 · 1.54
Debt to equity
1.90
ROE
1.3%▼
2020 · 63.3%
ROA
0.4%▼
2020 · 25.9%
Interest coverage
1.99
Debt ≤ 1 year
€116k▲
2020 · €88k
Staff costs
€8k
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 · 2021 against 2020 · 38 lines
Balance sheet
Code20202021
Assets
Total assets20/58€148k€178k▲
Fixed assets21/28€13k€4k▼
Tangible fixed assets22/27€12k€3k▼
Furniture and vehicles24-€3k
Financial fixed assets28€1k€1k=
Current assets29/58€135k€174k▲
Amounts receivable within one year40/41€135k€173k▲
Trade receivables40-€75k
Other amounts receivable41-€98k
Cash at bank and in hand54/58-€316
Equity and liabilities
Total equity and liabilities10/49€148k€178k▲
Equity10/15€60k€61k▲
Contributions10/11-€10k
Profit (loss) carried forward14€50k€51k▲
Amounts payable17/49€88k€116k▲
Amounts payable within one year42/48€88k€116k▲
Current portion of amounts payable after more than one year42-€6k
Financial debts43-€16k
Credit institutions430/8-€16k
Trade debts44€46k€86k▲
Suppliers440/4-€86k
Taxes, remuneration and social security45-€8k
Taxes450/3-€8k
Income statement
Code20202021
Remuneration, social security and pensions62-€8k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€3k▼
Other operating charges640/8-€10k
Gross operating margin9900€73k€25k▼
Operating profit (loss)9901€55k€4k▼
Financial income75/76B-€1
Recurring financial income75€1€1▼
Financial charges65/66B-€4k
Recurring financial charges65€5k€4k▼
Profit (loss) for the period before taxes9903€50k€776▼
Income taxes67/77€12k-
Profit (loss) for the period9904€38k€776▼
Profit (loss) for the period to be appropriated9905€38k€776▼
Appropriation of the result
Profit (loss) to be appropriated9906-€51k
Profit (loss) brought forward from the previous period14P-€50k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €8k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €20k | €14k | €3k | ▼ 80.2% |
| Other operating charges640/8 | - | - | - | €10k | - |
| Gross operating margin9900 | €101k | €80k | €73k | €25k | ▼ 65.8% |
| Operating profit (loss)9901 | €25k | €25k | €55k | €4k | ▼ 92.1% |
| Financial income75/76B | - | - | - | €1 | - |
| Recurring financial income75 | - | €0 | €1 | €1 | ▼ 2.0% |
| Financial charges65/66B | - | - | - | €4k | - |
| Recurring financial charges65 | - | €9k | €5k | €4k | ▼ 23.9% |
| Profit (loss) for the period before taxes9903 | €25k | €15k | €50k | €776 | ▼ 98.5% |
| Income taxes67/77 | - | €4k | €12k | - | - |
| Profit (loss) for the period9904 | €25k | €11k | €38k | €776 | ▼ 98.0% |
| Profit (loss) for the period to be appropriated9905 | €25k | €11k | €38k | €776 | ▼ 98.0% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €20k | €58k | €148k | €178k | ▲ 20.1% |
| Fixed assets21/28 | €8k | €14k | €13k | €4k | ▼ 68.1% |
| Tangible fixed assets22/27 | €7k | €13k | €12k | €3k | ▼ 75.2% |
| Furniture and vehicles24 | - | - | - | €3k | - |
| Financial fixed assets28 | €1k | €1k | €1k | €1k | = |
| Current assets29/58 | €12k | €43k | €135k | €174k | ▲ 28.4% |
| Amounts receivable within one year40/41 | €10k | €43k | €135k | €173k | ▲ 28.1% |
| Trade receivables40 | - | - | - | €75k | - |
| Other amounts receivable41 | - | - | - | €98k | - |
| Cash at bank and in hand54/58 | €2k | €6 | - | €316 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €20k | €58k | €148k | €178k | ▲ 20.1% |
| Equity10/15 | €11k | €22k | €60k | €61k | ▲ 1.3% |
| Contributions10/11 | €10k | €10k | - | €10k | - |
| Profit (loss) carried forward14 | €785 | €12k | €50k | €51k | ▲ 1.5% |
| Amounts payable17/49 | €9k | €36k | €88k | €116k | ▲ 33.0% |
| Amounts payable within one year42/48 | €9k | €36k | €88k | €116k | ▲ 33.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6k | - |
| Financial debts43 | - | - | - | €16k | - |
| Credit institutions430/8 | - | - | - | €16k | - |
| Trade debts44 | €4k | €22k | €46k | €86k | ▲ 87.9% |
| Suppliers440/4 | - | - | - | €86k | - |
| Taxes, remuneration and social security45 | - | - | - | €8k | - |
| Taxes450/3 | - | - | - | €8k | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25k | €11k | €38k | €776 | ▼ 98.0% |
| + Depreciation and write-downs630 | €3k | €20k | €14k | €3k | ▼ 80.2% |
| Operating cash flow (approximation) | €28k | €32k | €52k | €4k | ▼ 93.2% |
| Investment in fixed assets (approximation) | - | €-27k | €-12k | €6k | ▲ 147% |
| Change in cash | - | €-2k | - | - | - |
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
2025
24-02
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 11-02-2025
2023
28-06
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 22-06-2023
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
31-12
Financial
Weakest financial yearnet €776 ▼98%
Net result drops to €776, the lowest in the series.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Highest result since 2018net €38k ▲237%
Operating result €55k, net result €38k, both a record.
04-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 126 days late
2019
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
20-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 204 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | NATHALIE VERMEERSCH PLANTINKAAI 10/21,
2000 ANTWERPEN 1 |
22-06-2023 → 11-02-2025 |