SOFONA

Open bankruptcy

Public limited companyfounded 1968Waterloosesteenweg 1135, 1180 Ukkel, BelgiumKBO/BCE: BE 0403.338.767

A bankruptcy procedure is open for SOFONA according to publications in the Belgian State Gazette. The file additionally contains 1 interim measure. The 2024 annual accounts show equity of €12.57M and a net result of €-239k.

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Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year €-239k

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

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

Financials · fiscal year 2024, full schema

Turnover

€2.39M▼ 9.7%

2023 · €2.64M

2018: €2.82M 2019: €3.10M 2020: €2.59M 2021: €2.56M 2022: €2.73M 2023: €2.64M

2018 → 2024

EBIT margin

80.7%▼ 8.2pp

2023 · 88.9%

2018: 74.4% 2019: 67.9% 2020: 11.8% 2021: 32.1% 2022: 93.7% 2023: 88.9%

2018 → 2024

Net result

€-239k▲ 90.9%

2023 · €-2.64M

2018: €1.30M 2019: €1.24M 2020: €-3.38M 2021: €-4.22M 2022: €4.07M 2023: €-2.64M

2018 → 2024

Working capital

€-6.65M▼ 12.0%

2023 · €-5.94M

2018: €12.81M 2019: €20.79M 2020: €20.48M 2021: €33.73M 2022: €37.04M 2023: €-5.94M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€2.59M-€2.56M▼ 1.2%€2.73M▲ 6.5%€2.64M▼ 3.2%€2.39M▼ 9.7%

Equity€15.60M-€11.38M▼ 27.0%€15.45M▲ 35.7%€12.81M▼ 17.1%€12.57M▼ 1.9%

Operating result€306k-€822k▲ 169%€2.56M▲ 211%€2.35M▼ 8.1%€1.93M▼ 18.1%

Net result€-3.38M-€-4.22M▼ 24.9%€4.07M€-2.64M€-239k▲ 90.9%

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2024 is 18% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €81.84M

45.3%

54.7%

Fixed assets €37.11M▼ 0.8%

Current assets €44.73M▲ 6.1%

Equity and liabilities €81.84M

15.4%

83.1%

Equity €12.57M▼ 1.9%

Provisions €1.29M▼ 4.0%

Debt €67.98M▲ 3.9%

The debt ratio rises from 82.2% to 83.1%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€2.42M▼

2023 · €2.83M

Cash flow

€253k▲

2023 · €-2.16M

Solvency

15.4%▼

2023 · 16.1%

Current ratio

0.87▼

2023 · 0.88

Quick ratio

0.87▼

2023 · 0.88

Debt / equity

5.41▲

2023 · 5.11

ROE

-1.9%▲

2023 · -20.6%

ROA

-0.3%▲

2023 · -3.3%

Interest coverage

0.74▼

2023 · 0.92

Debt

€67.98M▲

2023 · €65.42M

Debt ≤ 1 year

€51.38M▲

2023 · €48.09M

Debt > 1 year

€16.27M▼

2023 · €16.59M

Income taxes

€1.47M▲

2023 · €833k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€79.57M€81.84M▲

Fixed assets21/28€37.42M€37.11M▼

Tangible fixed assets22/27€21.69M€21.34M▼

Land and buildings22€21.69M€21.34M▼

Plant, machinery and equipment23€0-

Financial fixed assets28€15.73M€15.77M▲

Affiliated companies280/1€15.73M€15.77M▲

Participating interests280€15.73M€15.77M▲

Current assets29/58€42.15M€44.73M▲

Stocks and contracts in progress3€0€0=

Amounts receivable within one year40/41€39.66M€42.03M▲

Trade receivables40€309k€196k▼

Other amounts receivable41€39.35M€41.83M▲

Cash at bank and in hand54/58€560€151k▲

Deferred charges and accrued income490/1€2.49M€2.55M▲

Equity and liabilities

Total equity and liabilities10/49€79.57M€81.84M▲

Equity10/15€12.81M€12.57M▼

Contributions10/11€307k€307k=

Capital10€307k€307k=

Issued capital100€307k€307k=

Revaluation surpluses12€8.17M€8.17M=

Reserves13€4.05M€3.89M▼

Non-distributable reserves130/1€31k€31k=

Legal reserve130€31k€31k=

Tax-exempt reserves132€4.02M€3.86M▼

Profit (loss) carried forward14€284k€206k▼

Provisions and deferred taxes16€1.34M€1.29M▼

Deferred taxes168€1.34M€1.29M▼

Amounts payable17/49€65.42M€67.98M▲

Amounts payable after more than one year17€16.59M€16.27M▼

Financial debts170/4€16.40M€16.08M▼

Credit institutions173€16.40M€16.08M▼

Other amounts payable178/9€186k€186k=

Amounts payable within one year42/48€48.09M€51.38M▲

Current portion of amounts payable after more than one year42€0-

Financial debts43€45.32M€45.19M▼

Credit institutions430/8€45.32M€45.19M▼

Other loans439€0-

Trade debts44€441k€879k▲

Suppliers440/4€441k€879k▲

Taxes, remuneration and social security45€1.01M€2.03M▲

Taxes450/3€1.01M€2.03M▲

Other amounts payable47/48€1.32M€3.27M▲

Accrued charges and deferred income492/3€747k€336k▼

Income statement Code20232024

Operating income70/76A€3.40M€2.99M▼

Turnover70€2.64M€2.39M▼

Other operating income74€687k€589k▼

Non-recurring operating income76A€68k€10k▼

Operating charges60/66A€1.05M€1.06M▲

Services and other goods61€261k€285k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€482k€492k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-145k€-6k▲

Other operating charges640/8€450k€288k▼

Non-recurring operating charges66A€0€120▲

Operating profit (loss)9901€2.35M€1.93M▼

Financial income75/76B€2.03M€2.59M▲

Recurring financial income75€1.95M€2.46M▲

Income from financial fixed assets750€2k€0▼

Income from current assets751€1.95M€2.43M▲

Other financial income752/9€0€32k▲

Non-recurring financial income76B€75k€123k▲

Financial charges65/66B€6.24M€3.33M▼

Recurring financial charges65€3.07M€3.26M▲

Debt charges650€3.07M€3.26M▲

Other financial charges652/9€2k€2k▼

Non-recurring financial charges66B€3.16M€75k▼

Profit (loss) for the period before taxes9903€-1.86M€1.18M▲

Transfer from deferred taxes780€53k€53k=

Transfer to deferred taxes680€0-

Income taxes67/77€833k€1.47M▲

Taxes670/3€834k€1.47M▲

Tax adjustments and reversals of tax provisions77€1k€0▼

Profit (loss) for the period9904€-2.64M€-239k▲

Transfer from tax-exempt reserves789€160k€160k=

Transfer to tax-exempt reserves689€0-

Profit (loss) for the period to be appropriated9905€-2.48M€-79k▲

Appropriation of the result

Profit (loss) to be appropriated9906€284k€206k▼

Profit (loss) brought forward from the previous period14P€2.76M€284k▼

The notes to these accounts (50 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Signals 2Financial 3Filings 10

2026

08-07

Bankruptcy Opening

Tribunal de l’entreprise francophone de Bruxelles · SA SOFONA CHAUSSEE DE WATERLOO 1135, 1180 UCCLE · event 02-07-2026

27-03

Interim measure Provisional administrator

Tribunal de l’entreprise francophone de Bruxelles

2025

22-12

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 144 days late

19-12

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 506 days late

2023

31-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Back to profitnet €4.07M

Net result €4.07M after 2 loss-making years.

13-12

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 135 days late

2021

31-12

Financial Weakest financial yearnet €-4.22M

Net result drops to €-4.22M, the lowest in the series.

31-12

Financial Liquidity times 9current ratio 20.08

Current ratio from 2.25 to 20.08; short-term debt falls from €16.43M to €1.77M.

14-12

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 136 days late

2020

17-12

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 139 days late

2019

29-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 29 days late

2018

22-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 22 days late

2017

23-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 23 days late

2016

26-07

NBB filing Annual accounts filed

fiscal year 2015 · full schema

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

18 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, Ukkel · 1 establishment unit since 1941

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Waterloosesteenweg 11351180 Ukkel

Ground area

3,242 m²

Building footprint

818 m²

Volume, LiDAR

13,722 m³

Parcel 21612C0257/00V000, Brussels · tallest building 20.8 m, ±6 floors. Linked by address, not a title deed.

1 establishment unit

SOFONA

Waterloosesteenweg 1135, 1180 UkkelActivities of head offices; management consultancy activities

since 19412.014.207.671

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21612C0257/00V000	Brussels	3,242 m²	1 · 817 m²	20.8 m · 6 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Insolvency mandates

2 mandates

Role	Name	Tenure
Curator	Catherine HERINCKX AVENUE DU CONGO 1, 1050 IXELLES ↔ Also on 175 other cases	02-07-2026 → present
Curator	CHRISTOPHE BOUR- TEMBOURG AVENUE LOUISE 283/19, 1050 IXELLES-	02-07-2026 → present