Target

Open bankruptcy

Private limited companyfounded 2011Kleinhoefstraat 5, 2440 Geel, BelgiumKBO/BCE: BE 0840.291.303

A bankruptcy procedure is open for Target according to publications in the Belgian State Gazette. The 2023 annual accounts show equity of €219k and a net result of €-78k.

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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

Filed after the deadline

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-09-2024, 61 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 · 7 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

61 d late

2022

88 d late

2021

31 d late

2020

132 d late

2019

110 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 2023, abbreviated schema

Equity

€219k▼ 26.2%

2022 · €297k

2018: €75k 2019: €105k 2020: €177k 2021: €287k 2022: €297k

2018 → 2023

Total assets

€1.04M▲ 23.8%

2022 · €841k

2018: €480k 2019: €678k 2020: €545k 2021: €738k 2022: €841k

2018 → 2023

Net result

€-78k

2022 · €10k

2018: €32k 2019: €30k 2020: €72k 2021: €110k 2022: €10k

2018 → 2023

Working capital

€-110k

2022 · €11k

2018: €-111k 2019: €-133k 2020: €-27k 2021: €50k 2022: €11k

2018 → 2023

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20192020202120222023Trend

Equity€105k-€177k▲ 68.8%€287k▲ 62.1%€297k▲ 3.3%€219k▼ 26.2%

Operating result€52k-€137k▲ 162%€186k▲ 35.8%€17k▼ 91.1%€-36k

Net result€30k-€72k▲ 140%€110k▲ 52.1%€10k▼ 91.4%€-78k

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 turns negative in 2023: a loss of €36k after €17k in 2022, the lowest result in the available series.

Balance-sheet composition

2023 in colour, 2022 as the grey bar beneath

Assets €1.04M

67.2%

32.8%

Fixed assets €700k▲ 41.0%

Current assets €341k▼ 0.9%

Equity and liabilities €1.04M

21.0%

79.0%

Equity €219k▼ 26.2%

Debt €823k▲ 51.1%

The debt ratio rises from 64.7% to 79.0%. Equity is lower and debt is higher.

Key figures and ratios

2023 value · change against 2022

EBITDA

€148k▲

2022 · €140k

Cash flow

€107k▼

2022 · €133k

Solvency

21.0%▼

2022 · 35.3%

Current ratio

0.76▼

2022 · 1.03

Quick ratio

0.76▼

2022 · 1.03

Debt / equity

3.75▲

2022 · 1.83

ROE

-35.5%▼

2022 · 3.2%

ROA

-7.5%▼

2022 · 1.1%

Interest coverage

3.56▼

2022 · 13.07

Debt

€823k▲

2022 · €544k

Debt ≤ 1 year

€451k▲

2022 · €334k

Debt > 1 year

€364k▲

2022 · €204k

Income taxes

€1k▲

2022 · €-3k

Staff costs

€381k▲

2022 · €302k

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 · 2023 against 2022

Balance sheet Code20222023

Assets

Total assets20/58€841k€1.04M▲

Fixed assets21/28€497k€700k▲

Tangible fixed assets22/27€474k€677k▲

Plant, machinery and equipment23-€4k

Furniture and vehicles24€33k€39k▲

Leasing and similar rights25€353k€555k▲

Other tangible fixed assets26€88k€79k▼

Financial fixed assets28€23k€23k=

Current assets29/58€344k€341k▼

Amounts receivable after more than one year29€40k€40k=

Other amounts receivable291€40k€40k=

Amounts receivable within one year40/41€251k€253k▲

Trade receivables40€250k€233k▼

Other amounts receivable41€1k€19k▲

Cash at bank and in hand54/58€36k€19k▼

Deferred charges and accrued income490/1€18k€30k▲

Equity and liabilities

Total equity and liabilities10/49€841k€1.04M▲

Equity10/15€297k€219k▼

Contributions10/11€19k€19k=

Reserves13€278k€225k▼

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

Reserves not available under the articles1311€2k€2k=

Tax-exempt reserves132€11k€11k=

Distributable reserves133€266k€213k▼

Profit (loss) carried forward14-€-25k

Amounts payable17/49€544k€823k▲

Amounts payable after more than one year17€204k€364k▲

Financial debts170/4€204k€364k▲

Amounts payable within one year42/48€334k€451k▲

Current portion of amounts payable after more than one year42€107k€134k▲

Trade debts44€61k€18k▼

Suppliers440/4€61k€18k▼

Taxes, remuneration and social security45€149k€300k▲

Taxes450/3€108k€186k▲

Remuneration and social security454/9€40k€113k▲

Other amounts payable47/48€16k€0▼

Accrued charges and deferred income492/3€7k€7k=

Income statement Code20222023

Remuneration, social security and pensions62€302k€381k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€123k€184k▲

Other operating charges640/8€20k€23k▲

Gross operating margin9900€462k€553k▲

Operating profit (loss)9901€17k€-36k▼

Financial income75/76B€1k€1k▲

Recurring financial income75€1k€1k▲

Financial charges65/66B€11k€42k▲

Recurring financial charges65€11k€42k▲

Profit (loss) for the period before taxes9903€7k€-77k▼

Income taxes67/77€-3k€1k▲

Profit (loss) for the period9904€10k€-78k▼

Profit (loss) for the period to be appropriated9905€10k€-78k▼

Appropriation of the result

Profit (loss) to be appropriated9906€10k€-78k▼

Transfer from equity791/2-€53k

Transfer to equity691/2€10k€0▼

To other reserves6921€10k€0▼

Social balance

Average headcount (FTE)90874.55.3▲

The notes to these accounts (13 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 3Financial 5Filings 7

2025

22-07

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · TARGET BV KLEINHOEF- STRAAT 5/11, 2440 GEEL · event 15-07-2025

2024

30-09

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 61 days late

2023

31-12

Financial Weakest financial yearnet €-78k ▼919%

Net result drops to €-78k, the lowest in the series.

27-10

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 88 days late

2022

31-08

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 31 days late

18-07

Bankruptcy Bankruptcy reversal

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · TARGET BV KLEINHOEFSTRAAT 5, BUS 11, 2440 GEEL · event 12-07-2022

04-07

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · TARGET BV KLEINHOEF- STRAAT 5 BUS 11, 2440 GEEL · event 28-06-2022

2021

31-12

Financial Highest result since 2018net €110k ▲52.1%

Operating result €186k, net result €110k, both a record.

31-12

Financial Equity above €200kEq €287k ▲62.1%

4 profitable years in a row build equity to €287k.

10-12

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 132 days late

2020

31-12

Financial Equity above €150kEq €177k ▲68.8%

3 profitable years in a row build equity to €177k.

18-11

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 110 days late

2019

31-12

Financial Equity above €100kEq €105k ▲40.3%

2 profitable years in a row build equity to €105k.

08-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 69 days late

2018

06-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

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

Directors · office · real estate

Directors

6 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, Geel · 1 establishment unit since 2011

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.

Kleinhoefstraat 52440 Geel

Ground area

1.1 ha

Building footprint

3,240 m²

Volume, LiDAR

14,359 m³

Parcel 13376G0389/00P000, Flanders · tallest building 5.8 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Target

Kleinhoefstraat 5, 2440 GeelOther business support services

since 20112.204.096.257

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13376G0389/00P000	Flanders	1.1 ha	1 · 3,240 m²	5.8 m · 2 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

3 mandates

Role	Name	Tenure
Curator	BRAM VANGEEL DIESTSEWEG 155, 2440 GEEL- ↔ Also on 58 other cases	15-07-2025 → present
Curator	TOON BELMANS DIESTSEWEG 155, 2440 GEEL	15-07-2025 → present
Curator	SENNE DRAULANS VEERLESEWEG 2 BUS 1, 2440 GEEL-	28-06-2022 → present