SEEWORLD
Bankruptcy closedInactive since 14-04-2026; last annual accounts for financial year 2022.
Summary
SEEWORLD was declared bankrupt on 23-10-2023 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed by liquidation by judgment of 07-04-2026, published in the Belgian Official Gazette on 28-04-2026.
Financials · financial year 2022, micro format
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€30,467▼ 92.5%
2021 · -€15,830
Total assets
€40,541▼ 33.1%
2021 · €60,587
Net result
-€14,636▼ 13,737%
2021 · -€106
Working capital
-€47,158▼ 36.2%
2021 · -€34,635
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result turns negative in 2022: a loss of €11,576 after €2,066 in 2021, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€11,576
2022
Net result-€14,636
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€40,541
2022
Equity-€30,467
2022
Debt€71,008
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€47,158
2022
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2022
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€12,063-€8,945▼ 25.8%€13,998▲ 56.5%€2,066▼ 85.2%-€11,576
Net result€7,492-€4,884▼ 34.8%€9,883▲ 102%-€106-€14,636▼ 13,737%
Equity-€26,802--€21,919▲ 18.2%-€12,035▲ 45.1%-€15,830▼ 31.5%-€30,467▼ 92.5%
Total assets€113,122-€87,926▼ 22.3%€67,456▼ 23.3%€60,587▼ 10.2%€40,541▼ 33.1%
Debt€139,924-€109,844▼ 21.5%€79,491▼ 27.6%€76,417▼ 3.9%€71,008▼ 7.1%
Working capital-€52,519--€53,363▼ 1.6%-€51,769▲ 3.0%-€34,635▲ 33.1%-€47,158▼ 36.2%
Staff (FTE)1.3-1.2▼ 7.7%1▼ 16.7%1.8▲ 80.0%1▼ 44.4%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €40,541
Fixed assets
€18,492 ▼ 42.6%
Current assets
€22,049 ▼ 22.3%
Equity and liabilities
Equity-€30,467
Debt€71,008
Equity is negative: debt (€71,008) exceeds the balance-sheet total (€40,541).
Key figures and ratios
EBITDA
-€7,132▼
2021 · €22,041
Cash flow
-€10,192▼
2021 · €19,868
Solvency
-75.1%▼
2021 · -26.1%
Current ratio
0.32▼
2021 · 0.45
Quick ratio
0.15▼
2021 · 0.21
ROA
-36.1%▼
2021 · -0.2%
Interest coverage
-2.56▼
2021 · 11.22
Debt ≤ 1 year
€69,207▲
2021 · €63,029
Income taxes
€274▼
2021 · €293
Staff costs
€20,964▲
2021 · €15,761
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €15,761 | €20,964 | ▲ 33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,031 | €21,239 | €21,450 | €19,974 | €4,444 | ▼ 77.8% |
| Other operating charges640/8 | - | - | - | €1,699 | €4,301 | ▲ 153% |
| Non-recurring operating charges66A | - | - | - | €5,858 | €11,865 | ▲ 103% |
| Gross operating margin9900 | €86,082 | €67,117 | €46,285 | €45,358 | €29,999 | ▼ 33.9% |
| Operating profit (loss)9901 | €12,063 | €8,945 | €13,998 | €2,066 | -€11,576 | - |
| Financial income75/76B | - | - | - | €84 | - | - |
| Recurring financial income75 | €831 | €237 | €45 | €84 | - | - |
| Financial charges65/66B | - | - | - | €1,964 | €2,787 | ▲ 41.9% |
| Recurring financial charges65 | €5,049 | €3,934 | €3,309 | €1,964 | €2,787 | ▲ 41.9% |
| Profit (loss) for the period before taxes9903 | €7,845 | €5,248 | €10,735 | €187 | -€14,363 | - |
| Income taxes67/77 | €353 | €365 | €851 | €293 | €274 | ▼ 6.4% |
| Profit (loss) for the period9904 | €7,492 | €4,884 | €9,883 | -€106 | -€14,636 | ▼ 13,737% |
| Profit (loss) for the period to be appropriated9905 | €7,492 | €4,884 | €9,883 | -€106 | -€14,636 | ▼ 13,737% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €113,122 | €87,926 | €67,456 | €60,587 | €40,541 | ▼ 33.1% |
| Fixed assets21/28 | €81,747 | €65,161 | €49,543 | €32,193 | €18,492 | ▼ 42.6% |
| Intangible fixed assets21 | €475 | €238 | - | €0 | - | - |
| Tangible fixed assets22/27 | €78,872 | €64,923 | €49,537 | €32,187 | €18,492 | ▼ 42.5% |
| Land and buildings22 | - | - | - | €3,122 | €448 | ▼ 85.6% |
| Plant, machinery and equipment23 | - | - | - | €1,258 | €886 | ▼ 29.6% |
| Furniture and vehicles24 | - | - | - | €3,081 | €2,348 | ▼ 23.8% |
| Other tangible fixed assets26 | - | - | - | €24,726 | €14,811 | ▼ 40.1% |
| Financial fixed assets28 | €2,400 | €0 | €6 | €6 | - | - |
| Current assets29/58 | €31,374 | €22,765 | €17,913 | €28,394 | €22,049 | ▼ 22.3% |
| Stocks and contracts in progress3 | €16,732 | €17,024 | €15,281 | €15,450 | €11,455 | ▼ 25.9% |
| Stocks30/36 | - | - | - | €15,450 | €11,455 | ▼ 25.9% |
| Amounts receivable within one year40/41 | €7,340 | €1,396 | - | €4,594 | €7,637 | ▲ 66.2% |
| Trade receivables40 | - | - | - | €4,594 | €7,637 | ▲ 66.2% |
| Cash at bank and in hand54/58 | €5,504 | €1,279 | €429 | €629 | €665 | ▲ 5.8% |
| Deferred charges and accrued income490/1 | - | - | - | €7,722 | €2,292 | ▼ 70.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €113,122 | €87,926 | €67,456 | €60,587 | €40,541 | ▼ 33.1% |
| Equity10/15 | -€26,802 | -€21,919 | -€12,035 | -€15,830 | -€30,467 | ▼ 92.5% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €1,640 | €1,884 | €1,884 | €1,884 | €1,884 | = |
| Non-distributable reserves130/1 | - | - | - | €1,884 | €1,884 | = |
| Reserves not available under the articles1311 | - | - | - | €1,884 | €1,884 | = |
| Profit (loss) carried forward14 | -€46,992 | -€42,353 | -€32,470 | -€36,264 | -€50,901 | ▼ 40.4% |
| Amounts payable17/49 | €139,924 | €109,844 | €79,491 | €76,417 | €71,008 | ▼ 7.1% |
| Amounts payable after more than one year17 | €55,941 | €33,717 | €9,809 | €13,388 | - | - |
| Financial debts170/4 | - | - | - | €13,388 | - | - |
| Amounts payable within one year42/48 | €83,893 | €76,127 | €69,682 | €63,029 | €69,207 | ▲ 9.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €23,696 | €13,388 | ▼ 43.5% |
| Financial debts43 | - | - | - | €6,188 | €6,208 | ▲ 0.3% |
| Credit institutions430/8 | - | - | - | €6,188 | €6,208 | ▲ 0.3% |
| Trade debts44 | €15,850 | €15,567 | €11,690 | €4,195 | €14,249 | ▲ 240% |
| Suppliers440/4 | - | - | - | €4,195 | €14,249 | ▲ 240% |
| Taxes, remuneration and social security45 | - | - | - | €8,122 | €11,802 | ▲ 45.3% |
| Taxes450/3 | - | - | - | €3,563 | €9,418 | ▲ 164% |
| Remuneration and social security454/9 | - | - | - | €4,559 | €2,384 | ▼ 47.7% |
| Other amounts payable47/48 | - | - | - | €20,829 | €23,560 | ▲ 13.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,801 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,492 | €4,884 | €9,883 | -€106 | -€14,636 | ▼ 13,737% |
| + Depreciation and write-downs630 | €26,031 | €21,239 | €21,450 | €19,974 | €4,444 | ▼ 77.8% |
| Operating cash flow (approximation) | €33,523 | €26,123 | €31,333 | €19,868 | -€10,192 | - |
| Investment in fixed assets (approximation) | - | -€4,653 | -€5,832 | -€2,624 | €9,257 | - |
| Change in cash | - | -€4,225 | -€850 | €200 | €37 | ▼ 81.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | micro format | 01-06-2023 | 2023-00107872 |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20197682 |
| 31-12-2020 | micro format | 30-06-2021 | 2021-27800036 |
| 31-12-2019 | micro format | 05-06-2020 | 2020-15100343 |
| 31-12-2018 | micro format | 09-08-2019 | 2019-45400117 |
| 31-12-2017 | micro format | 13-06-2018 | 2018-18200392 |
| 31-12-2016 | micro format | 09-06-2017 | 2017-16000037 |
| 31-12-2015 | full format | 06-08-2016 | 2016-41300078 |
| 31-12-2014 | full format | 24-08-2015 | 2015-46000287 |
| 31-12-2013 | full format | 13-06-2014 | 2014-17200508 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.