SPRING

Inactive KBO/BCE: BE 0862.602.588

SPRING

Follow Report

Overview

Lifetime

6 annual accounts with figures on one time axis, 7 filings since 2005

Gross marginpeak €385,026 (2008)

-€28,014▼ €80,130

Resultlowest -€272,796 (2011)

-€272,796▼ €275,417

Equitypeak €44,184 (2008)

-€246,625▼ €266,645

Debts

€744,810▼ 1.2%

Staffpeak 4.1 FTE (2010)

3.2 FTE▼ 22.0%

Documentsfilings and deeds

30-08-2012filed

2011abbreviated format

Gross margin from €52,116 to -€28,014Loss of €272,796Staff from 4.1 FTE to 3.2 FTEEquity from €20,020 to -€246,625

Key points

from the 2011 annual accounts, the last ones filed

Result

-€272,796 -€272,796

From profit to loss in 2011, after a profit of €2,621 in 2010.

Debts

€744,810 150% of the balance sheet

After one year 40%Within one year 60%

Of this, €444,503 falls due within a year.

Filings

7 annual accounts 3 late

The 2011 accounts came latest: 30 days after the end of the period.

No scoreTurnover not published (abbreviated format)

Recent changes

29-12-2014

Bankruptcy closure (insufficient assets) Commercial Court of Antwerp, Antwerp division · Bankruptcy

06-02-2013

Bankruptcy published Commercial Court of Antwerp · judgment of 29-01-2013 · Bankruptcy

19-01-2004

Incorporation 11 publications in the Belgian Official Gazette, the last on 06-02-2013 · Gazette deed

All 13 events

Official details

Source: KBO

Status: Inactivedeed of incorporation of 19-01-2004 · bankruptcy closed on 29-12-2014
Activity: No activity registered in the KBO
Financial year end: 31 December
Peppol: Not found in the Peppol Directory

Company details

Annual accounts 2011

Gross margin: -€28,014
Loss: €272,796
Equity: -€246,625
Total assets: €498,185▼ 35.6%
Staff: 3.2 FTE▼ 22.0%
Filing: Filed on 30-08-2012

Financials

Insights on SPRING

Equity fell from €44,184 in 2008 to -€246,625 in 2011, while debts rose from €736,918 to €744,810.

On 29 January 2013 the court declared SPRING bankrupt.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2011

abbreviated format, filed on 30-08-2012, 30 days late

Gross margin

-€28,014

▼ €80,130

Operating result

-€254,830

▼ €46,483

Loss

-€272,796

▼ €275,417

Working capital

-€282,637

▼ €223,130

Solvency

-49.5%

▼ 52.1 percentage points

Current ratio

0.36

▼ 0.49

Turnover and EBIT margin are not published. The abbreviated format does not require them.

Balance sheet

balance sheet total €498,185 on 31-12-2011

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE€44,854

Staff costs divided by the average number of full-time equivalents.

Joined and left-3

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	498,185	773,522	704,460	781,102	829,081	331,298
Fixed assets`21/28`	336,319	419,950	403,536	447,762	470,440	33,855
Intangible fixed assets`21`	45,494	60,741	988	-	-	-
Tangible fixed assets`22/27`	283,133	351,517	402,548	447,762	470,440	33,855
Land and buildings`22`	200,282	238,101	364,924	392,490	436,100	-
Plant, machinery and equipment`23`	-	1,668	3,336	5,004	6,833	323
Furniture and vehicles`24`	36,228	56,731	34,289	50,268	27,507	3,180
Other tangible fixed assets`26`	46,623	55,017	-	-	-	30,353
Financial fixed assets`28`	7,692	7,692	-	-	-	-
Current assets`29/58`	161,866	353,572	300,924	333,340	358,641	297,443
Stocks and contracts in progress`3`	15,000	107,722	113,991	117,997	40,255	34,827
Stocks`30/36`	15,000	107,722	113,991	117,997	40,255	34,827
Amounts receivable within one year`40/41`	22,696	104,912	186,259	214,459	274,394	259,619
Trade receivables`40`	22,696	104,912	146,049	195,332	274,314	256,900
Other amounts receivable`41`	-	-	40,210	19,128	79	2,719
Cash at bank and in hand`54/58`	124,170	131,884	674	-	39,810	-
Deferred charges and accrued income`490/1`	-	9,054	-	884	4,182	2,996
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	498,185	773,522	704,460	781,102	829,081	331,298
Equity`10/15`	-246,625	20,020	17,399	44,184	40,920	13,503
Contributions`10/11`	12,300	12,300	12,300	12,300	12,300	12,300
Issued capital`100`	18,550	18,550	18,550	18,550	18,550	18,550
Uncalled capital`101`	6,250	6,250	6,250	6,250	6,250	6,250
Reserves`13`	8,006	1,855	1,855	1,855	1,855	60
Legal reserve`130`	1,855	1,855	1,855	1,855	1,855	60
Distributable reserves`133`	6,151	-	-	-	-	-
Profit (loss) carried forward`14`	-266,931	5,865	3,244	30,029	26,765	1,143
Amounts payable`17/49`	744,810	753,502	687,061	736,918	788,161	317,795
Amounts payable after more than one year`17`	300,307	339,820	342,176	365,550	368,462	-
Financial debts`170/4`	300,307	339,820	342,176	365,550	368,462	-
Amounts payable within one year`42/48`	444,503	413,078	343,631	365,815	413,112	314,189
Current portion of amounts payable after more than one year`42`	13,704	31,776	26,854	22,149	15,684	-
Financial debts`43`	-	-	23,114	39,590	-	19,962
Credit institutions`430/8`	-	-	23,114	39,590	-	19,962
Trade debts`44`	320,058	331,630	228,927	252,843	288,176	205,148
Suppliers`440/4`	320,058	331,630	228,927	252,843	288,176	205,148
Advances received on contracts in progress`46`	-	-	-	-	23,236	-
Taxes, remuneration and social security`45`	39,052	46,764	64,736	51,233	66,062	85,805
Taxes`450/3`	16,060	24,060	38,601	39,437	51,481	74,473
Remuneration and social security`454/9`	22,992	22,704	26,135	11,796	14,581	11,332
Other amounts payable`47/48`	71,688	2,908	-	-	19,954	3,275
Accrued charges and deferred income`492/3`	-	604	1,254	5,552	6,586	3,605
Income statement
Non-recurring operating income`76A`	8,793	278,488	-	-	88,173	-
Gross operating margin`9900`	-28,014	52,116	263,594	385,026	238,408	113,163
Remuneration, social security and pensions`62`	143,533	165,021	180,633	151,139	105,701	63,185
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	62,197	57,931	57,423	63,935	58,458	6,236
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	12,098	31,338	20,115	16,630	376	15,318
Other operating charges`640/8`	8,987	6,172	4,818	3,352	2,090	3,100
Non-recurring operating charges`66A`	774	-	5,319	-	31,581	3,400
Operating profit (loss)`9901`	-254,830	-208,347	605	149,971	71,782	25,324
Financial income`75/76B`	13,683	3,307	25,182	5,731	16,554	1,203
Recurring financial income`75`	13,683	3,307	25,182	5,731	16,554	1,203
Financial charges`65/66B`	39,404	70,114	47,253	147,314	97,103	17,974
Recurring financial charges`65`	39,404	70,114	47,253	147,314	97,103	17,974
Profit (loss) for the period before taxes`9903`	-272,533	3,333	-26,785	8,388	47,826	5,153
Income taxes`67/77`	263	712	-	5,125	20,409	2,465
Profit (loss) for the period`9904`	-272,796	2,621	-26,785	3,264	27,417	2,688
Profit (loss) for the period to be appropriated`9905`	-272,796	2,621	-26,785	3,264	27,417	2,688
Appropriation of the result
Profit (loss) to be appropriated`9906`	-266,931	5,865	3,244	30,029	28,560	1,203
Transfer to equity`691/2`	-	-	-	-	1,795	60
To the legal reserve`6920`	-	-	-	-	1,795	60
Social balance sheet
Average staff (FTE)`9087`	3.2	4.1	4	3.7	2.8	1.9
Hours worked`1013`	5,785	7,242	7,251	6,458	4,939	3,154
Document	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for financial year 2005 were filed as a document without figures as data, a scan for example.

Source: Annual accounts 2011 (PDF), filed on 30-08-2012.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2011	abbreviated format	30-08-2012	2012-55300429	PDF
31-12-2010	abbreviated format	28-07-2011	2011-35600255	PDF
31-12-2009	abbreviated format	12-07-2010	2010-29700469	PDF
31-12-2008	abbreviated format	27-08-2009	2009-67900365	PDF
31-12-2007	abbreviated format	28-08-2008	2008-67800302	PDF
31-12-2006	abbreviated format	22-06-2007	2007-27900032	PDF
31-12-2005	abbreviated format	27-07-2006	2006-57600818	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2011	2010	2009	2008	2007	2006
EBITDA	-192,633	-150,416	58,028	213,906	130,240	31,561
Cash flow	-210,599	60,552	30,638	67,199	85,875	8,925
Investment in fixed assets	8,166	375,858	29,261	41,256	525,396	15,113
Change in cash	-7,715	131,210	-	-	-	-
Working capital	-282,637	-59,507	-42,707	-32,475	-54,472	-16,747
Solvency	-49.5%	2.6%	2.5%	5.7%	4.9%	4.1%
Current ratio	0.36	0.86	0.88	0.91	0.87	0.95
Quick ratio	0.33	0.60	0.54	0.59	0.77	0.84
Debt to equity	-	37.64	39.49	16.68	19.26	23.54
ROE	-	13.1%	-153.9%	7.4%	67.0%	19.9%
ROA	-54.8%	0.3%	-3.8%	0.4%	3.3%	0.8%

Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on SPRING

The operating result for 2011 is a loss of €254,830, larger than the loss of €208,347 in 2010. It is the lowest result since 2006.

Equity is negative. Debt (€744,810) exceeds the balance-sheet total (€498,185).

Board & ownership

Curator

1 mandate

Mr. Heysse

Curator, Barbara, Esmoreitlaan 5, 2050 Antwerpen-5

from 29-01-2013 to 29-12-2014

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Capital: €12,300
Source: 2011 annual accounts

Office holders in the KBO →

Timeline

13 events since 2004

Filings

Financial

Insolvency

200420062008201020122014201620182020202220242026

2014

29-12-2014

Bankruptcy closure (insufficient assets) Commercial Court of Antwerp, Antwerp division

2013

06-02-2013

Bankruptcy published Commercial Court of Antwerp · judgment of 29-01-2013

2012

30-08-2012

Annual accounts 2011 filed PDFabbreviated format · 30 days late

2011

31-12-2011

Weakest financial year net -€272,796 The net result drops to -€272,796, the lowest from 2006 to 2011.

28-07-2011

Annual accounts 2010 filed PDFabbreviated format · 3 days before the deadline

2010

31-12-2010

Back to profit net €2,621 The net result is €2,621, after one loss-making year.

12-07-2010

Annual accounts 2009 filed PDFabbreviated format · 19 days before the deadline

2009

27-08-2009

Annual accounts 2008 filed PDFabbreviated format · 27 days late

2008

28-08-2008

Annual accounts 2007 filed PDFabbreviated format · 28 days late

2007

31-12-2007

Highest result from 2006 to 2011 net €27,417 ▲920% The net result of €27,417 is the highest of those years.

22-06-2007

Annual accounts 2006 filed PDFabbreviated format · 39 days before the deadline

2006

27-07-2006

Annual accounts 2005 filed PDFabbreviated format · 4 days before the deadline

2004

19-01-2004

Incorporation PDF11 publications in the Belgian Official Gazette, the last on 06-02-2013

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

Total assets fell from €829,081 in 2007 to €498,185 in 2011 and headcount from 2.8 to 3.2 full-time equivalents.¹ The bankruptcy of SPRING was declared on 29 January 2013 and closed on 29 December 2014.²³

Company details

Inactive

SPRING is no longer in the KBO register.

Last annual accounts: financial year to 31 December 2011
Last registered office: Meir 78 - Unit B24, 2000 Antwerpenas published on 5 October 2012
Legal form: Private limited company (pre-2019)
First annual accounts: financial year 2005

Official KBO record