SILHOUET
Open bankruptcyA bankruptcy procedure is open for SILHOUET according to publications in the Belgian State Gazette; curator: PIETER HUYGHE.
Summary
The 2023 annual accounts show equity of €881,428 and a net result of €249,706.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Ghent division
- Declared bankrupt
- 10 February 2026
- Supervising judge
- Patrick Dumortier
- Official Gazette
- 16-02-2026 (pdf) ↗search the document for 2026/106488
Curator
- Pieter HuygheSavaanstraat 72, 9000 Gentpieterhuyghe@kantoortorrekens.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help. Full guide for creditors
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 28-05-2024, 28 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 · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
28 d late
2022
11 d early
2021
4 d early
2020
9 d early
2019
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Address check Are there other customers at risk in your own list?Debtor check How is the Printing and reproduction of recorded media sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, abbreviated schema
Equity
€881,428▲ 39.5%
2022 · €631,722
Total assets
€2.6m▼ 6.5%
2022 · €2.8m
Net result
€249,706▲ 450%
2022 · €45,420
Working capital
€190,972
2022 · -€191,752
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
Line20192020202120222023
Operating result€130,300€102,031▼ 21.7%€52,784▼ 48.3%€82,463▲ 56.2%€292,914▲ 255%
Net result€87,156€57,575▼ 33.9%€8,430▼ 85.4%€45,420▲ 439%€249,706▲ 450%
Equity€170,297▲ 105%€577,872▲ 239%€586,302▲ 1.5%€631,722▲ 7.7%€881,428▲ 39.5%
Total assets€3.2m▲ 1.4%€3.2m▲ 1.1%€3.1m▼ 3.6%€2.8m▼ 10.3%€2.6m▼ 6.5%
Debt€3.0m▼ 1.4%€2.6m▼ 12.3%€2.5m▼ 4.7%€2.2m▼ 14.5%€1.7m▼ 20.0%
Working capital-€840,604▼ 89.2%-€191,101▲ 77.3%-€254,544▼ 33.2%-€191,752▲ 24.7%€190,972
Staff (FTE)1.8▲ 80.0%2.3▲ 27.8%3.4▲ 47.8%4.9▲ 44.1%6.4▲ 30.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed two years in a row; 2023 is 255% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €2.6m
Fixed assets
€1.3m ▼ 22.2%
Current assets
€1.3m ▲ 15.4%
Equity and liabilities €2.6m
Equity
€881,428 ▲ 39.5%
Debt
€1.7m ▼ 20.0%
Debt's share of the balance-sheet total falls from 77.4% to 66.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€665,173▲
2022 · €463,650
Cash flow
€621,966▲
2022 · €426,607
Current ratio
1.17▲
2022 · 0.86
Quick ratio
0.99▲
2022 · 0.71
Debt to equity
1.96▼
2022 · 3.42
ROE
28.3%▲
2022 · 7.2%
ROA
9.6%▲
2022 · 1.6%
Interest coverage
15.10▲
2022 · 12.82
Debt ≤ 1 year
€1.2m▼
2022 · €1.4m
Debt > 1 year
€572,272▼
2022 · €800,101
Income taxes
€908▲
2022 · €872
Staff costs
€348,315▲
2022 · €242,719
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €184,194 | €242,719 | €348,315 | ▲ 43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €276,933 | €362,475 | €383,466 | €381,187 | €372,259 | ▼ 2.3% |
| Other operating charges640/8 | - | - | €32,098 | €8,550 | €9,013 | ▲ 5.4% |
| Non-recurring operating charges66A | - | - | €119,837 | - | - | - |
| Gross operating margin9900 | €487,728 | €589,975 | €772,380 | €714,919 | €1.0m | ▲ 43.0% |
| Operating profit (loss)9901 | €130,300 | €102,031 | €52,784 | €82,463 | €292,914 | ▲ 255% |
| Financial income75/76B | - | - | €1 | - | €1,738 | - |
| Recurring financial income75 | €378 | €1 | €1 | - | €1,738 | - |
| Financial charges65/66B | - | - | €43,303 | €36,171 | €44,038 | ▲ 21.8% |
| Recurring financial charges65 | €43,522 | €44,457 | €43,303 | €36,171 | €44,038 | ▲ 21.8% |
| Profit (loss) for the period before taxes9903 | €87,156 | €57,575 | €9,482 | €46,293 | €250,614 | ▲ 441% |
| Income taxes67/77 | €0 | €0 | €1,052 | €872 | €908 | ▲ 4.1% |
| Profit (loss) for the period9904 | €87,156 | €57,575 | €8,430 | €45,420 | €249,706 | ▲ 450% |
| Profit (loss) for the period to be appropriated9905 | €87,156 | €57,575 | €8,430 | €45,420 | €249,706 | ▲ 450% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.2m | €3.2m | €3.1m | €2.8m | €2.6m | ▼ 6.5% |
| Fixed assets21/28 | €2.3m | €2.3m | €2.0m | €1.6m | €1.3m | ▼ 22.2% |
| Tangible fixed assets22/27 | €2.3m | €2.3m | €2.0m | €1.6m | €1.3m | ▼ 22.2% |
| Land and buildings22 | - | - | €346,057 | €305,466 | €267,672 | ▼ 12.4% |
| Plant, machinery and equipment23 | - | - | €1.5m | €1.2m | €939,681 | ▼ 22.6% |
| Furniture and vehicles24 | - | - | €16,482 | €6,687 | €1,966 | ▼ 70.6% |
| Leasing and similar rights25 | - | - | €142,763 | €98,086 | €53,409 | ▼ 45.5% |
| Current assets29/58 | €919,153 | €944,482 | €1.1m | €1.2m | €1.3m | ▲ 15.4% |
| Stocks and contracts in progress3 | €40,000 | €138,198 | €137,450 | €195,394 | €201,525 | ▲ 3.1% |
| Stocks30/36 | - | - | €137,450 | €195,394 | €201,525 | ▲ 3.1% |
| Amounts receivable within one year40/41 | €819,876 | €664,597 | €904,115 | €725,493 | €959,987 | ▲ 32.3% |
| Trade receivables40 | - | - | €825,495 | €608,079 | €856,619 | ▲ 40.9% |
| Other amounts receivable41 | - | - | €78,620 | €117,414 | €103,368 | ▼ 12.0% |
| Cash at bank and in hand54/58 | €59,277 | €141,687 | €50,852 | €220,253 | €157,428 | ▼ 28.5% |
| Deferred charges and accrued income490/1 | - | - | €21,380 | €24,572 | €26,126 | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.2m | €3.2m | €3.1m | €2.8m | €2.6m | ▼ 6.5% |
| Equity10/15 | €170,297 | €577,872 | €586,302 | €631,722 | €881,428 | ▲ 39.5% |
| Contributions10/11 | €25,000 | - | €375,000 | €375,000 | €375,000 | = |
| Reserves13 | €145,297 | €202,872 | €211,302 | €256,722 | €506,428 | ▲ 97.3% |
| Non-distributable reserves130/1 | - | - | €2,500 | €2,500 | €2,500 | = |
| Reserves not available under the articles1311 | - | - | €2,500 | €2,500 | €2,500 | = |
| Distributable reserves133 | - | - | €208,802 | €254,222 | €503,928 | ▲ 98.2% |
| Amounts payable17/49 | €3.0m | €2.6m | €2.5m | €2.2m | €1.7m | ▼ 20.0% |
| Amounts payable after more than one year17 | €1.3m | €1.5m | €1.2m | €800,101 | €572,272 | ▼ 28.5% |
| Financial debts170/4 | - | - | €1.2m | €800,101 | €572,272 | ▼ 28.5% |
| Amounts payable within one year42/48 | €1.8m | €1.1m | €1.4m | €1.4m | €1.2m | ▼ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | €349,650 | €354,231 | €227,829 | ▼ 35.7% |
| Financial debts43 | - | - | - | €150,000 | €150,000 | = |
| Other loans439 | - | - | - | €150,000 | €150,000 | = |
| Trade debts44 | €823,914 | €596,290 | €690,745 | €601,541 | €733,658 | ▲ 22.0% |
| Suppliers440/4 | - | - | €690,745 | €601,541 | €733,658 | ▲ 22.0% |
| Taxes, remuneration and social security45 | - | - | €26,899 | €26,217 | €42,608 | ▲ 62.5% |
| Taxes450/3 | - | - | €3,360 | €872 | €1,067 | ▲ 22.3% |
| Remuneration and social security454/9 | - | - | €23,538 | €25,344 | €41,541 | ▲ 63.9% |
| Other amounts payable47/48 | - | - | €301,048 | €225,476 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €87,156 | €57,575 | €8,430 | €45,420 | €249,706 | ▲ 450% |
| + Depreciation and write-downs630 | €276,933 | €362,475 | €383,466 | €381,187 | €372,259 | ▼ 2.3% |
| Operating cash flow (approximation) | €364,089 | €420,050 | €391,897 | €426,607 | €621,966 | ▲ 45.8% |
| Investment in fixed assets (approximation) | - | -€373,598 | -€98,544 | -€9,584 | -€11,413 | ▼ 19.1% |
| Change in cash | - | €82,410 | -€90,835 | €169,400 | -€62,825 | ▼ 137% |
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
2026
16-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 10-02-2026
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
30-09
Financial
Highest result since 2018net €249,706 ▲450%
Operating result €292,914, net result €249,706, both a record.
19-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
21-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Equity above €500,000Eq €577,872 ▲239%
2 profitable years in a row build equity to €577,872.
20-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Back to profitnet €87,156
Net result €87,156 after one loss-making year.
30-09
Financial
Equity above €150,000Eq €170,297 ▲105%
Equity rises from €83,141 to €170,297.
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 58 days late
2018
07-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Show earlier events
2017
10-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
02-02
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
12-02
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
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
Registered office, Maldegem · 2 establishment units since 2008
Ground area
3,854 m²
Building footprint
722 m²
Volume, LiDAR
3,631 m³
2 parcels, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
SILHOUET
since 20082.174.586.976
SILHOUET
since 20122.211.554.567
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43503F0392/00B000 | Flanders | 2,010 m² | 1 · 174 m² | 8.0 m · 2 fl. |
| 43503F0395/00C000 | Flanders | 1,844 m² | 1 · 547 m² | 7.2 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PIETER HUYGHE SAVAANSTRAAT 72, 9000 GENT- |
10-02-2026 → present |
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Of 195 companies in sector 18110 we hold annual accounts for 134. 81 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded12-11-2008
Fiscal year end30-09
Activities, NACEBEL 2025
18110Printing and reproduction of recorded media
18130Pre-press and pre-media services
18140Printing and reproduction of recorded media
58110Book publishing
Scores and ratios are computed by Checked and are not a credit decision.