THINK50
InactiveTHINK50 was declared bankrupt on 05-04-2022 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed by liquidation by judgment of 04-04-2023, published in the Belgian State Gazette on 11-04-2023.
Summary
Inactive; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 30-09-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 9 filingsPosition against the passed deadline
30-09-2021 close30-04-2022 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 30-09-2020 was due by 30-04-2021 and was filed on 11-05-2021, 11 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 · 9 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
11 d late
2019
43 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 27 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2020, abbreviated schema
Equity
€27,697▼ 83.9%
2019 · €171,998
Total assets
€701,717▲ 10.9%
2019 · €632,928
Net result
-€95,278
2019 · €17,897
Working capital
€172,047▼ 41.2%
2019 · €292,519
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line201820192020
Operating result€15,787-€22,422▲ 42.0%-€91,018
Net result€8,803-€17,897▲ 103%-€95,278
Equity€203,124-€171,998▼ 15.3%€27,697▼ 83.9%
Total assets€629,509-€632,928▲ 0.5%€701,717▲ 10.9%
Debt€426,384-€460,930▲ 8.1%€674,020▲ 46.2%
Working capital€408,128-€292,519▼ 28.3%€172,047▼ 41.2%
Staff (FTE)2.7-3▲ 11.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2020: a loss of €91,018 after €22,422 in 2019, the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €701,717
Fixed assets
€367,131 ▲ 35.1%
Current assets
€334,586 ▼ 7.3%
Equity and liabilities €701,717
Equity
€27,697 ▼ 83.9%
Debt
€674,020 ▲ 46.2%
Debt's share of the balance-sheet total rises from 72.8% to 96.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€25,987▼
2019 · €96,962
Cash flow
€21,727▼
2019 · €92,437
Current ratio
2.06▼
2019 · 5.26
Quick ratio
1.78▼
2019 · 4.60
Debt to equity
18.47▲
2019 · 2.28
ROE
-344.0%▼
2019 · 10.4%
ROA
-13.6%▼
2019 · 2.8%
Debt ≤ 1 year
€162,539▲
2019 · €68,597
Debt > 1 year
€511,482▲
2019 · €392,333
Income taxes
€234=
2019 · €234
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,606 | €74,540 | €117,005 | ▲ 57.0% |
| Gross operating margin9900 | €170,920 | €101,214 | €27,806 | ▼ 72.5% |
| Operating profit (loss)9901 | €15,787 | €22,422 | -€91,018 | ▼ 506% |
| Recurring financial income75 | €2,409 | €19 | - | - |
| Recurring financial charges65 | €9,142 | €4,310 | €4,027 | ▼ 6.6% |
| Profit (loss) for the period before taxes9903 | €9,055 | €18,131 | -€95,044 | ▼ 624% |
| Income taxes67/77 | €252 | €234 | €234 | = |
| Profit (loss) for the period9904 | €8,803 | €17,897 | -€95,278 | ▼ 632% |
| Profit (loss) for the period to be appropriated9905 | €8,803 | €17,897 | -€95,278 | ▼ 632% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €629,509 | €632,928 | €701,717 | ▲ 10.9% |
| Fixed assets21/28 | €151,683 | €271,812 | €367,131 | ▲ 35.1% |
| Intangible fixed assets21 | €145,421 | €266,801 | €363,371 | ▲ 36.2% |
| Tangible fixed assets22/27 | €2,502 | €1,251 | €0 | ▼ 100.0% |
| Financial fixed assets28 | €3,760 | €3,760 | €3,760 | = |
| Current assets29/58 | €477,826 | €361,116 | €334,586 | ▼ 7.3% |
| Stocks and contracts in progress3 | €45,367 | €45,367 | €45,367 | = |
| Amounts receivable within one year40/41 | €146,978 | €209,568 | €94,514 | ▼ 54.9% |
| Current investments50/53 | €100,000 | €100,000 | €100,000 | = |
| Cash at bank and in hand54/58 | €135,363 | €6,181 | €94,705 | ▲ 1,432% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €629,509 | €632,928 | €701,717 | ▲ 10.9% |
| Equity10/15 | €203,124 | €171,998 | €27,697 | ▼ 83.9% |
| Contributions10/11 | €18,600 | €18,600 | - | - |
| Reserves13 | €2,279 | €2,279 | €2,279 | = |
| Profit (loss) carried forward14 | €38,634 | €56,531 | -€38,747 | ▼ 169% |
| Amounts payable17/49 | €426,384 | €460,930 | €674,020 | ▲ 46.2% |
| Amounts payable after more than one year17 | €356,686 | €392,333 | €511,482 | ▲ 30.4% |
| Amounts payable within one year42/48 | €69,698 | €68,597 | €162,539 | ▲ 137% |
| Trade debts44 | €7,333 | €3,563 | €32,865 | ▲ 822% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,803 | €17,897 | -€95,278 | ▼ 632% |
| + Depreciation and write-downs630 | €35,606 | €74,540 | €117,005 | ▲ 57.0% |
| Operating cash flow (approximation) | €44,409 | €92,437 | €21,727 | ▼ 76.5% |
| Investment in fixed assets (approximation) | - | -€194,670 | -€212,323 | ▼ 9.1% |
| Change in cash | - | -€129,183 | €88,525 | ▲ 169% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2023
11-04
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Gent · event 04-04-2023
2022
11-04
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 05-04-2022
2021
11-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 11 days late
2020
30-09
Financial
Weakest financial yearnet -€95,278
Net result drops to -€95,278, the lowest in the series.
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 43 days late
2019
30-09
Financial
Highest result since 2018net €17,897 ▲103%
Operating result €22,422, net result €17,897, both a record.
07-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
18-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
21-04
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
21-03
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
29-10
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 182 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | HILDE DE BOEVER BRUSSELSESTEENWEG 346 C BUS 1,
9090 MELLE |
05-04-2022 → 04-04-2023 |