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SETAS

Inactive
KBO/BCE: BE 0639.727.173

SETAS was declared bankrupt on 23-05-2022 (Tribunal de l’entreprise de Liège, division Liège); the bankruptcy was closed for insufficient assets by judgment of 18-04-2023, published in the Belgian State Gazette on 25-04-2023.

Summary

Inactive; last annual accounts for fiscal year 2018.

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SETASInactive
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Signals

Three signals. The signal on the left, the evidence on the right.
○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 · 3 filings
Position against the passed deadline
31-12-2019 close31-07-2020 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2018 was due by 31-07-2019 and was filed on 04-07-2019, 27 days ahead of the deadline.
NBB · 3 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

SETAS has filed 3 sets of annual accounts, the latest for fiscal year 2018.1 On 23 May 2022 the company was declared bankrupt; the bankruptcy was closed on 18 April 2023.23

  1. 1National Bank, annual accounts 2018
  2. 2Belgian State Gazette, 30-05-2022
  3. 3Belgian State Gazette, 25-04-2023

Financials · fiscal year 2018, abbreviated schema

Equity
€14,432
Total assets
€30,503
Net result
€288
Working capital
-€2,431

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

Balance-sheet composition
Assets €30,503
Fixed assets €19,696
Current assets €10,807
Equity and liabilities €30,503
Equity €14,432
Debt €16,071
Debt finances 52.7% of the balance-sheet total.
Key figures and ratios
2018 value
EBITDA
€6,210
Cash flow
€5,621
Current ratio
0.82
Quick ratio
0.30
Debt to equity
0.20
ROE
2.0%
ROA
0.9%
Debt ≤ 1 year
€13,238
Debt > 1 year
€2,833
Income taxes
€482
Annual accounts
Filed annual accounts As filed with the NBB · 2018 · 22 lines
Balance sheet Code2018
Assets
Total assets20/58€30,503
Fixed assets21/28€19,696
Tangible fixed assets22/27€19,696
Current assets29/58€10,807
Stocks and contracts in progress3€6,847
Cash at bank and in hand54/58€3,960
Equity and liabilities
Total equity and liabilities10/49€30,503
Equity10/15€14,432
Contributions10/11€12,400
Reserves13€400
Profit (loss) carried forward14€1,632
Amounts payable17/49€16,071
Amounts payable after more than one year17€2,833
Amounts payable within one year42/48€13,238
Income statement Code2018
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5,333
Gross operating margin9900€8,083
Operating profit (loss)9901€877
Recurring financial charges65€107
Profit (loss) for the period before taxes9903€770
Income taxes67/77€482
Profit (loss) for the period9904€288
Profit (loss) for the period to be appropriated9905€288
Line2018
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5,333
Gross operating margin9900€8,083
Operating profit (loss)9901€877
Recurring financial charges65€107
Profit (loss) for the period before taxes9903€770
Income taxes67/77€482
Profit (loss) for the period9904€288
Profit (loss) for the period to be appropriated9905€288
Line2018
Assets
Total assets20/58€30,503
Fixed assets21/28€19,696
Tangible fixed assets22/27€19,696
Current assets29/58€10,807
Stocks and contracts in progress3€6,847
Cash at bank and in hand54/58€3,960
Equity and liabilities
Total equity and liabilities10/49€30,503
Equity10/15€14,432
Contributions10/11€12,400
Reserves13€400
Profit (loss) carried forward14€1,632
Amounts payable17/49€16,071
Amounts payable after more than one year17€2,833
Amounts payable within one year42/48€13,238
Line2018
Profit (loss) for the period9904€288
+ Depreciation and write-downs630€5,333
Operating cash flow (approximation)€5,621

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
25-04
Bankruptcy Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise de Liège, division Liège · event 18-04-2023
2022
30-05
Bankruptcy Opening
Tribunal de l’entreprise de Liège, division Liège · event 23-05-2022
2019
04-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-09
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema · 61 days late
30-09
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema · 426 days late
SignalNBB filing
0 of 5 acts read
About the unread acts

We know of 5 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
5 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

2 mandates
Role Name Tenure
Curator KOENRAAD TANGHE
RUE DUVIVIER 22, 4000 LIEGE 1
 23-05-2022 → 18-04-2023
Curator SAMUEL VAN DURME
RUE DE JOIE, 56, 4000 LIEGE 1
 23-05-2022 → 18-04-2023

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