SHAVATAR
InactiveSHAVATAR was declared bankrupt on 17-09-2024 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed for insufficient assets by judgment of 16-12-2025, published in the Belgian State Gazette on 23-12-2025.
Summary
Inactive; last annual accounts for fiscal year 2023.
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 31-12-2024, 2 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 · 4 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 02-07-2024, 29 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
29 d early
2022
22 d late
2021
145 d early
2020
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 32 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2023, micro schema
Equity
€4,989▼ 90.1%
2022 · €50,382
Total assets
€128,210▼ 26.1%
2022 · €173,378
Net result
-€34,865▲ 37.6%
2022 · -€55,857
Working capital
-€109,414▼ 52.1%
2022 · -€71,927
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2020202120222023
Operating result-€27,867--€37,806▼ 35.7%-€64,321▼ 70.1%-€42,829▲ 33.4%
Net result-€20,921--€28,488▼ 36.2%-€55,857▼ 96.1%-€34,865▲ 37.6%
Equity€96,558-€81,767▼ 15.3%€50,382▼ 38.4%€4,989▼ 90.1%
Total assets€169,791-€209,662▲ 23.5%€173,378▼ 17.3%€128,210▼ 26.1%
Debt€73,233-€127,895▲ 74.6%€122,996▼ 3.8%€123,221▲ 0.2%
Working capital-€10,600--€60,887▼ 474%-€71,927▼ 18.1%-€109,414▼ 52.1%
Staff (FTE)0.3-0.2▼ 33.3%
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 €42,829 in 2023 against €64,321 in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €128,210
Fixed assets
€114,403 ▼ 6.5%
Current assets
€13,807 ▼ 73.0%
Equity and liabilities €128,210
Equity
€4,989 ▼ 90.1%
Debt
€123,221 ▲ 0.2%
Debt's share of the balance-sheet total rises from 70.9% to 96.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€21,451▲
2022 · -€43,975
Cash flow
-€13,487▲
2022 · -€35,511
Current ratio
0.11▼
2022 · 0.42
Debt to equity
24.70▲
2022 · 2.44
ROE
-698.9%▼
2022 · -110.9%
ROA
-27.2%▲
2022 · -32.2%
Interest coverage
-8.37▲
2022 · -21.30
Debt ≤ 1 year
€123,221▲
2022 · €122,996
Staff costs
-€76▲
2022 · -€624
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | -€624 | -€76 | ▲ 87.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,435 | €15,214 | €20,346 | €21,378 | ▲ 5.1% |
| Other operating charges640/8 | - | - | €427 | €501 | ▲ 17.3% |
| Gross operating margin9900 | -€19,685 | -€9,366 | -€44,173 | -€21,026 | ▲ 52.4% |
| Operating profit (loss)9901 | -€27,867 | -€37,806 | -€64,321 | -€42,829 | ▲ 33.4% |
| Financial income75/76B | - | - | €10,528 | €10,528 | = |
| Recurring financial income75 | €7,500 | €10,528 | €10,528 | €10,528 | = |
| Financial charges65/66B | - | - | €2,064 | €2,564 | ▲ 24.2% |
| Recurring financial charges65 | €554 | €1,210 | €2,064 | €2,564 | ▲ 24.2% |
| Profit (loss) for the period before taxes9903 | -€20,921 | -€28,488 | -€55,857 | -€34,865 | ▲ 37.6% |
| Profit (loss) for the period9904 | -€20,921 | -€28,488 | -€55,857 | -€34,865 | ▲ 37.6% |
| Profit (loss) for the period to be appropriated9905 | -€20,921 | -€28,488 | -€55,857 | -€34,865 | ▲ 37.6% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €169,791 | €209,662 | €173,378 | €128,210 | ▼ 26.1% |
| Fixed assets21/28 | €107,158 | €142,654 | €122,308 | €114,403 | ▼ 6.5% |
| Intangible fixed assets21 | €105,825 | €141,814 | €121,961 | €114,403 | ▼ 6.2% |
| Tangible fixed assets22/27 | €1,333 | €840 | €347 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | €347 | €0 | ▼ 100% |
| Current assets29/58 | €62,633 | €67,008 | €51,070 | €13,807 | ▼ 73.0% |
| Amounts receivable within one year40/41 | €7,877 | €15,003 | €6,938 | €7,015 | ▲ 1.1% |
| Trade receivables40 | - | - | €2,249 | €6,485 | ▲ 188% |
| Other amounts receivable41 | - | - | €4,690 | €531 | ▼ 88.7% |
| Cash at bank and in hand54/58 | €54,756 | €52,005 | €44,061 | €6,792 | ▼ 84.6% |
| Deferred charges and accrued income490/1 | - | - | €70 | €0 | ▼ 100% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €169,791 | €209,662 | €173,378 | €128,210 | ▼ 26.1% |
| Equity10/15 | €96,558 | €81,767 | €50,382 | €4,989 | ▼ 90.1% |
| Contributions10/11 | - | - | €99,979 | €99,979 | = |
| Profit (loss) carried forward14 | -€20,921 | -€49,409 | -€105,266 | -€140,131 | ▼ 33.1% |
| Investment grants15 | - | - | €55,669 | €45,141 | ▼ 18.9% |
| Amounts payable17/49 | €73,233 | €127,895 | €122,996 | €123,221 | ▲ 0.2% |
| Amounts payable within one year42/48 | €73,233 | €127,895 | €122,996 | €123,221 | ▲ 0.2% |
| Trade debts44 | €31,571 | €45,394 | €4,406 | €1,713 | ▼ 61.1% |
| Suppliers440/4 | - | - | €4,406 | €1,713 | ▼ 61.1% |
| Taxes, remuneration and social security45 | - | - | €0 | €409 | - |
| Remuneration and social security454/9 | - | - | €0 | €409 | - |
| Other amounts payable47/48 | - | - | €118,590 | €121,100 | ▲ 2.1% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€20,921 | -€28,488 | -€55,857 | -€34,865 | ▲ 37.6% |
| + Depreciation and write-downs630 | €2,435 | €15,214 | €20,346 | €21,378 | ▲ 5.1% |
| Operating cash flow (approximation) | -€18,486 | -€13,273 | -€35,511 | -€13,487 | ▲ 62.0% |
| Investment in fixed assets (approximation) | - | -€50,711 | €0 | -€13,473 | - |
| Change in cash | - | -€2,751 | -€7,944 | -€37,270 | ▼ 369% |
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
23-12
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 16-12-2025
2024
23-09
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 17-09-2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
31-12
Financial
Weakest financial yearnet -€55,857
Net result drops to -€55,857, the lowest in the series.
08-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | STEVEN BOEYNAEMS CUYLITSSTRAAT 48,
2018 ANTWERPEN 1 |
17-09-2024 → 16-12-2025 |