SOLAR GROUP

Open bankruptcy

Private limited companyfounded 2018KBO/BCE: BE 0707.812.463

A bankruptcy procedure is open for SOLAR GROUP according to publications in the Belgian State Gazette. The 2022 annual accounts show equity of €112k and a net result of €136k.

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Signals

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

+raises risk○neutral

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

Latest accounts filed on time

The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 24-03-2023, 129 days ahead of the deadline.

NBB · 4 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

not filed

2022

129 d early

2021

11 d late

2020

165 d late

2019

92 d late

← before the deadline after the deadline →

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 2022, abbreviated schema

Turnover

€0

Total assets

€477k▲ 889%

2021 · €48k

2019: €26k 2020: €41k 2021: €48k

2019 → 2022

Net result

€136k▲ 2,033%

2021 · €6k

2019: €-2k 2020: €9k 2021: €6k

2019 → 2022

Working capital

€80k▲ 600%

2021 · €11k

2019: €-10k 2020: €5k 2021: €11k

2019 → 2022

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2019202020212022Trend

Turnover€0

Equity€-2k-€7k€13k▲ 93.0%€112k▲ 741%

Operating result€218-€10k▲ 4,306%€9k▼ 2.6%€207k▲ 2,107%

Net result€-2k-€9k€6k▼ 27.8%€136k▲ 2,033%

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

Result per fiscal year

Operating resultNet result

The operating result recovers in 2022; 2022 is 2,107% above 2021 and is the highest result in the available series.

Balance-sheet composition

2022 in colour, 2021 as the grey bar beneath

Assets €477k

93.4%

Fixed assets €31k▲ 1,650%

Current assets €446k▲ 860%

Equity and liabilities €477k

23.4%

76.6%

Equity €112k▲ 741%

Debt €366k▲ 946%

The debt ratio rises from 72.5% to 76.6%. Equity and debt are higher.

Key figures and ratios

2022 value · change against 2021

EBITDA

€208k▲

2021 · €10k

Cash flow

€138k▲

2021 · €7k

Solvency

23.4%▼

2021 · 27.5%

Current ratio

1.22▼

2021 · 1.33

Quick ratio

0.77▼

2021 · 1.33

Debt / equity

3.27▲

2021 · 2.64

ROE

122.1%▲

2021 · 48.2%

ROA

28.6%▲

2021 · 13.3%

Interest coverage

48.12▲

2021 · 3.60

Debt

€366k▲

2021 · €35k

Debt ≤ 1 year

€366k▲

2021 · €35k

Income taxes

€68k▲

2021 · €2k

Staff costs

€37k

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 · 2022 against 2021

Balance sheet Code20212022

Assets

Total assets20/58€48k€477k▲

Fixed assets21/28€2k€31k▲

Intangible fixed assets21€289€14k▲

Tangible fixed assets22/27-€5k

Plant, machinery and equipment23-€5k

Financial fixed assets28€2k€13k▲

Current assets29/58€46k€446k▲

Stocks and contracts in progress3-€165k

Stocks30/36-€165k

Amounts receivable within one year40/41€39k€251k▲

Trade receivables40€10k€139k▲

Other amounts receivable41€29k€112k▲

Cash at bank and in hand54/58€7k€31k▲

Deferred charges and accrued income490/1€0-

Equity and liabilities

Total equity and liabilities10/49€48k€477k▲

Equity10/15€13k€112k▲

Contributions10/11€1€2k▲

Reserves13-€95k

Distributable reserves133-€95k

Profit (loss) carried forward14€13k€15k▲

Amounts payable17/49€35k€366k▲

Amounts payable within one year42/48€35k€366k▲

Trade debts44€27k€209k▲

Suppliers440/4€27k€209k▲

Taxes, remuneration and social security45€8k€117k▲

Taxes450/3€8k€114k▲

Remuneration and social security454/9-€3k

Other amounts payable47/48€0€40k▲

Income statement Code20212022

Turnover70€0-

Goods, raw materials, services and sundry goods60/61€0-

Remuneration, social security and pensions62-€37k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€165€2k▲

Other operating charges640/8€1k€606▼

Gross operating margin9900€11k€246k▲

Operating profit (loss)9901€9k€207k▲

Financial income75/76B€1k€2k▲

Recurring financial income75€1k€2k▲

Financial charges65/66B€3k€4k▲

Recurring financial charges65€3k€4k▲

Profit (loss) for the period before taxes9903€8k€204k▲

Income taxes67/77€2k€68k▲

Profit (loss) for the period9904€6k€136k▲

Profit (loss) for the period to be appropriated9905€6k€136k▲

Appropriation of the result

Profit (loss) to be appropriated9906€13k€150k▲

Profit (loss) brought forward from the previous period14P€7k€13k▲

Transfer to equity691/2-€95k

To other reserves6921-€95k

Profit to be distributed694/7-€40k

Return on contributions (dividend)694-€40k

Social balance

Average headcount (FTE)9087-1.5

The notes to these accounts (12 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 8Signals 1Financial 3Filings 4

2024

19-06

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Hasselt · SOLAR GROUP BV KONING BOUDEWIJNLAAN 20A, 3500 HASSELT · event 13-06-2024

2023

24-03

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Highest result since 2019net €136k ▲2033%

Operating result €207k, net result €136k, both a record.

31-12

Financial Equity above €100kEq €112k ▲741%

3 profitable years in a row build equity to €112k.

11-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 11 days late

12-01

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 165 days late

2020

31-12

Financial Back to profitnet €9k

Net result €9k after one loss-making year.

31-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 92 days late

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

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

1 establishment unit since 2018

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.

Ground area

8,534 m²

Building footprint

984 m²

Volume, LiDAR

7,855 m³

2 parcels, Flanders, Wallonia · tallest building 21.6 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

E.L.I Group

Pre-press and pre-media services

since 20182.280.699.335

2 parcels

Flanders 1 (50%) Wallonia 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62814C0393/00V002	Wallonia	4,768 m²	-	-
71323C0286/00F002	Flanders	3,766 m²	1 · 984 m²	21.6 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

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

3 mandates

Role	Name	Tenure
Curator	TOM ARTS JAARBEURSLAAN 19/31, 3600 GENK-	13-06-2024 → present
Curator	GEERT RENIERS JAARBEURSLAAN 19/31, 3600 GENK ↔ Also on 133 other cases	13-06-2024 → present
Curator	ILONA LO GIUDICE JAAR- BEURSLAAN 19/31, 3600 GENK	13-06-2024 → present