Active BE 0871.164.423Public limited companyOpen bankruptcy

TE - GROUP

Ruiterijschool 6 ·2930 Brasschaat, Belgium· 21 yrs active

Sector: Wholesale trade (46431)

Conclusion Checked

A bankruptcy procedure is open for TE - GROUP according to publications in the Belgian State Gazette. The 2020 annual accounts show equity of €715k and a net result of €-1.78M.

Based on the State Gazette, CBE and 1 annual account.

Key figures

Equity	€715k
Net result	€-1.78M
Staff (FTE)	9.4
Better than sector	62%

Snowflake analysis 5 axes · computed by Checked

23 / 100

Fragile profile — watch health in particular.

Health 0

Profitability 0

Solvency 66

Growth 50

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open — a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High risk

Components

· Open bankruptcy (+50)

Trust signals 1 signals

Open bankruptcy

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

Administrative Flags 0 events

No administrative flags

Health barometer FY 2020 · computed

0 / 100 Critical

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative — not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 13-09-2021 with the NBB · fiscal year 2020 · volledig

Sector comparison

Fiscal year 2020 · NACE 46 — Wholesale trade · compared across all schema types (micro, abbreviated and full combined)

Metric	This company	Sector median	Position in the sector
Solvency	23.0%	15.3%	better than 62% of 121 sector peers
Net result	€-1.06M	€0	better than 5% of 121 sector peers
Equity	€715k	€27k	better than 90% of 121 sector peers
Employees (FTE)	9.4	2.3	better than 83% of 48 sector peers
Total assets	€3.12M	€270k	better than 88% of 121 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Highlight YoY changes (±10%)

Fiscal year	2020
Revenue	€4.16M
EBITDA	€-1,000k
Net profit	€-1.78M
Cash flow	€-1.77M
Staff costs	—
Income taxes	€-1k
Dividends	—
Total assets	€3.12M
Equity	€715k
Debt	€2.40M
of which ≤ 1y	€2.28M
of which > 1y	€104k
Working capital	€681k
Employees (FTE)	9.4

Ratios (computed)

	2020
Current ratio	1.30
Quick ratio	0.30
Working capital ratio	21.9%
Solvency	23.0%
Debt / equity	0.15
Long-term debt ratio	0.15
Interest coverage	-26.45
Gross margin	—
Net margin	-42.6%
ROA	-57.0%
ROE	-248.2%
EBITDA margin	-24.0%
Days sales outstanding	56d
Days payable outstanding	—
Inventory turnover	—
Days inventory (DSI)	—

Balance-sheet composition 2020

Assets

Fixed assets €158k · 5.1% Current assets €2.96M · 94.9%

Equity & liabilities

Equity €715k · 23.0% Debt €2.40M · 77.0%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2020
Balance sheet — Assets
TOTAL ASSETS	20/58	€3.12M
Fixed assets	21/28	€158k
Financial fixed assets	28	€158k
Current assets	29/58	€2.96M
Stocks & contracts in progress	3	€2.28M
Amounts receivable within one year	40/41	€639k
Cash & bank	54/58	€32k
Balance sheet — Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€3.12M
Equity	10/15	€715k
Contributions / capital	10/11	€2.32M
Reserves	13	€171k
Accumulated profits (losses)	14	€-1.78M
Amounts payable	17/49	€2.40M
Amounts payable after one year	17	€104k
Amounts payable within one year	42/48	€2.28M
Trade debts payable within one year	44	€196k
Income statement
Turnover	70	€4.16M
Operating result	9901	€-1.00M
Financial charges	65	€62k
Result before taxes	9903	€-1.06M
Income taxes	67/77	€-1k
Net result for the period	9904	€-1.06M
Result to be appropriated	9905	€-1.06M

Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	CATHéRINE LANNOY MECHELSESTEENWEG 271/8.1, 2018 ANTWERPEN 1 ↔ Also on 81 other cases	01-03-2022 → present	Belgian State Gazette

Legal Structure

NACE primary	Wholesale trade(46431)
Legal form	Public limited company(014)
Incorporation	12-01-2005
Status	Active
Postal code	2930
First BS signal	07-03-2022
Latest BS signal	07-03-2022

Company structure — linked entities1 linked entities

Mandates

↔ 1 of these mandate-holders are active on other cases — click any red card to open that KBO.

Establishment units 1 location

TE-GROUP

Ruiterijschool 6, 2930 Brasschaatde exploitatie van elektronische communicatienetwerken voor algemeen gebruik of ten behoeve van bepaalde categorieën van gebruikers (vb.financiële instellingen)

since 20042.145.051.268

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates — not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11008B0231/00G002	Flanders	3,097 m²	1 · 1,162 m²	17.6 m · 5 fl.

Methodology

via registered seat: 1

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

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

Updates 11 events

A single timeline of everything that happened to this company — publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2022

07-03-2022

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · TE-GROUP NV RUITERIJ- SCHOOL 6, 2930 BRASSCHAAT · event 01-03-2022

2021

13-09-2021