ST SERVICE

Open bankruptcy

Private limited companyfounded 2019Chaussée de Bruxelles 124, 6040 Charleroi, BelgiumKBO/BCE: BE 0720.926.863

A bankruptcy procedure is open for ST SERVICE according to publications in the Belgian State Gazette; curator: BERNARD GROFILS. The 2022 annual accounts show equity of €78k and a net result of €-86k.

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Signals

Three signals.

+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

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, micro schema

Turnover

€737k▼ 27.7%

2021 · €1.02M

2019: €149k 2020: €673k 2021: €1.02M

2019 → 2022

EBIT margin

-11.6%▼ 16.7pp

2021 · 5.1%

2019: 14.5% 2020: 19.9% 2021: 5.1%

2019 → 2022

Net result

€-86k

2021 · €41k

2019: €17k 2020: €100k 2021: €41k

2019 → 2022

Working capital

€58k▼ 56.8%

2021 · €135k

2019: €-10k 2020: €83k 2021: €135k

2019 → 2022

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2019202020212022Trend

Turnover€149k-€673k▲ 353%€1.02M▲ 51.3%€737k▼ 27.7%

Equity€23k-€123k▲ 428%€164k▲ 33.3%€78k▼ 52.3%

Operating result€22k-€134k▲ 523%€52k▼ 61.1%€-85k

Net result€17k-€100k▲ 483%€41k▼ 59.0%€-86k

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2022: a loss of €85k after €52k in 2021, the lowest year so far.

Balance-sheet composition

2022 in colour, 2021 as the grey bar beneath

Assets €155k

12.9%

87.1%

Fixed assets €20k▼ 31.1%

Current assets €135k▼ 41.8%

Equity and liabilities €155k

50.5%

49.5%

Equity €78k▼ 52.3%

Debt €77k▼ 21.0%

The debt ratio rises from 37.2% to 49.5%: equity shrinks faster than debt is paid down.

Key figures and ratios

2022 value · change against 2021

EBITDA

€-76k▼

2021 · €66k

Cash flow

€-77k▼

2021 · €55k

Solvency

50.5%▼

2021 · 62.8%

Current ratio

1.76▼

2021 · 2.39

Quick ratio

1.76▼

2021 · 2.39

Debt / equity

0.98▲

2021 · 0.59

ROE

-109.6%▼

2021 · 25.0%

ROA

-55.3%▼

2021 · 15.7%

Interest coverage

-121.00▼

2021 · 253.97

Debt

€77k▼

2021 · €97k

Debt ≤ 1 year

€77k▼

2021 · €97k

Staff costs

€339k▼

2021 · €415k

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€261k€155k▼

Fixed assets21/28€29k€20k▼

Intangible fixed assets21€27k€19k▼

Tangible fixed assets22/27€2k€761▼

Furniture and vehicles24€2k€761▼

Current assets29/58€232k€135k▼

Amounts receivable within one year40/41€218k€135k▼

Trade receivables40€103k€35k▼

Other amounts receivable41€115k€100k▼

Cash at bank and in hand54/58€14k-

Equity and liabilities

Total equity and liabilities10/49€261k€155k▼

Equity10/15€164k€78k▼

Contributions10/11€6k€6k=

Capital10€6k€6k=

Issued capital100€19k€19k=

Uncalled capital101€12k€12k=

Reserves13€2k€2k=

Non-distributable reserves130/1€2k€2k=

Legal reserve130€2k€2k=

Profit (loss) carried forward14€156k€70k▼

Amounts payable17/49€97k€77k▼

Amounts payable within one year42/48€97k€77k▼

Financial debts43-€28

Credit institutions430/8-€28

Trade debts44€4k€9k▲

Suppliers440/4€4k€9k▲

Taxes, remuneration and social security45€93k€68k▼

Taxes450/3€77k€52k▼

Remuneration and social security454/9€17k€16k▼

Income statement Code20212022

Turnover70€1.02M€737k▼

Goods, raw materials, services and sundry goods60/61€5.83M€462k▼

Remuneration, social security and pensions62€415k€339k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€9k▼

Other operating charges640/8€8k€2k▼

Non-recurring operating charges66A€2k€10k▲

Gross operating margin9900€492k€275k▼

Operating profit (loss)9901€52k€-85k▼

Financial charges65/66B€259€629▲

Recurring financial charges65€259€629▲

Profit (loss) for the period before taxes9903€52k€-86k▼

Income taxes67/77€11k-

Profit (loss) for the period9904€41k€-86k▼

Profit (loss) for the period to be appropriated9905€41k€-86k▼

Appropriation of the result

Profit (loss) to be appropriated9906€156k€70k▼

Profit (loss) brought forward from the previous period14P€115k€156k▲

The notes to these accounts (6 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 10Signals 1Financial 5Filings 4

2024

08-03

Bankruptcy Opening

Tribunal de l’entreprise du Hainaut, division Charleroi · ST SERVICE (SRL) CHAUSSEE DE BRUXELLES 124/21, 6040 JUMET (CHARLEROI) · event 04-03-2024

2023

30-10

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 91 days late

2022

31-12

Financial Weakest financial yearnet €-86k ▼309%

Net result drops to €-86k, the lowest in the series.

28-10

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 89 days late

2021

31-12

Financial Equity above €150kEq €164k ▲33.3%

3 profitable years in a row build equity to €164k.

30-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

31-12

Financial Highest result since 2019net €100k ▲483%

Operating result €134k, net result €100k, both a record.

31-12

Financial Liquidity doublescurrent ratio 1.96

Current ratio from 0.79 to 1.96.

31-12

Financial Equity above €100kEq €123k ▲428%

2 profitable years in a row build equity to €123k.

08-10

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 69 days late

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

Directors · office · real estate

Directors

1 director, no change since 2023

SAOUD Toufik

Director · since 24-11-2023

Current

24-11-2023 Appointed as Director

Location & real-estate footprint

Registered office, Charleroi · 1 establishment unit since 2019

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.

Chaussée de Bruxelles 1246040 Charleroi

Ground area

9,029 m²

Building footprint

4,006 m²

Volume, LiDAR

37,648 m³

2 parcels, Wallonia · tallest building 16.6 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

ST SERVICE

Warehousing and support activities for transportation

since 20192.285.476.980

2 parcels

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
52363D0603/00M000	Wallonia	8,756 m²	1 · 3,871 m²	16.6 m · 3 fl.
52034C0238/00T000	Wallonia	273 m²	1 · 135 m²	12.7 m · 4 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

1 mandate

Role	Name	Tenure
Curator	BERNARD GROFILS RUE DE ROBIANO 62, 7130 BINCHE- . Date provisoire de cessation de paiement : 04/03/2024 ↔ Also on 54 other cases	04-03-2024 → present