TIME
InactiveTIME was declared bankrupt on 28-09-2023 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed by liquidation by judgment of 24-09-2024, published in the Belgian State Gazette on 30-09-2024.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline29-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 30-08-2023, 30 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
30 d late
2021
86 d late
2020
87 d late
2019
119 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 81 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 2022, micro schema
Equity
€20,688▼ 76.3%
2021 · €87,268
Total assets
€66,800▼ 55.1%
2021 · €148,852
Net result
-€66,580
2021 · €49,429
Working capital
€5,688▼ 91.4%
2021 · €66,007
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
Line20182019202020212022
Operating result-€11,284--€3,671▲ 67.5%€26,777€50,245▲ 87.6%-€66,364
Net result-€12,177--€5,789▲ 52.5%€25,264€49,429▲ 95.6%-€66,580
Equity€18,363-€12,574▼ 31.5%€37,839▲ 201%€87,268▲ 131%€20,688▼ 76.3%
Total assets€271,535-€222,977▼ 17.9%€174,636▼ 21.7%€148,852▼ 14.8%€66,800▼ 55.1%
Debt€253,172-€210,402▼ 16.9%€136,797▼ 35.0%€61,584▼ 55.0%€46,112▼ 25.1%
Working capital-€63,565--€74,965▼ 17.9%€24,108€66,007▲ 174%€5,688▼ 91.4%
Staff (FTE)6.8-6.4▼ 5.9%4.9▼ 23.4%2.7▼ 44.9%2▼ 25.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €66,364 after €50,245 in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €66,800
Fixed assets
€15,000 ▼ 29.4%
Current assets
€51,800 ▼ 59.4%
Equity and liabilities €66,800
Equity
€20,688 ▼ 76.3%
Debt
€46,112 ▼ 25.1%
Debt's share of the balance-sheet total rises from 41.4% to 69.0%. Equity and debt are lower.
Key figures and ratios
Current ratio
1.12▼
2021 · 2.07
Quick ratio
0.82▼
2021 · 1.85
Debt to equity
2.23▲
2021 · 0.71
ROE
-321.8%▼
2021 · 56.6%
ROA
-99.7%▼
2021 · 33.2%
Debt ≤ 1 year
€46,112▼
2021 · €61,584
Staff costs
€44,584▲
2021 · €17,114
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €436 | €200 | ▼ 54.0% |
| Remuneration, social security and pensions62 | - | - | - | €17,114 | €44,584 | ▲ 161% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,895 | €20,687 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €903 | €9,146 | ▲ 913% |
| Gross operating margin9900 | €267,973 | €263,181 | €112,637 | €68,262 | -€12,633 | ▼ 119% |
| Operating profit (loss)9901 | -€11,284 | -€3,671 | €26,777 | €50,245 | -€66,364 | ▼ 232% |
| Financial income75/76B | - | - | - | €75 | €0 | ▼ 99.7% |
| Recurring financial income75 | €505 | €22 | €5 | €75 | €0 | ▼ 99.7% |
| Financial charges65/66B | - | - | - | €891 | €217 | ▼ 75.7% |
| Recurring financial charges65 | €1,398 | €2,140 | €1,517 | €891 | €217 | ▼ 75.7% |
| Profit (loss) for the period before taxes9903 | -€12,177 | -€5,789 | €25,264 | €49,429 | -€66,580 | ▼ 235% |
| Profit (loss) for the period9904 | -€12,177 | -€5,789 | €25,264 | €49,429 | -€66,580 | ▼ 235% |
| Profit (loss) for the period to be appropriated9905 | -€12,177 | -€5,789 | €25,264 | €49,429 | -€66,580 | ▼ 235% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €271,535 | €222,977 | €174,636 | €148,852 | €66,800 | ▼ 55.1% |
| Fixed assets21/28 | €91,481 | €94,810 | €18,509 | €21,261 | €15,000 | ▼ 29.4% |
| Tangible fixed assets22/27 | €87,802 | €91,131 | €17,165 | €21,261 | €15,000 | ▼ 29.4% |
| Furniture and vehicles24 | - | - | - | €21,261 | €15,000 | ▼ 29.4% |
| Financial fixed assets28 | €3,679 | €3,679 | €1,344 | - | - | - |
| Current assets29/58 | €180,054 | €128,167 | €156,127 | €127,591 | €51,800 | ▼ 59.4% |
| Amounts receivable after more than one year29 | - | - | - | €1,044 | €1,044 | = |
| Other amounts receivable291 | - | - | - | €1,044 | €1,044 | = |
| Stocks and contracts in progress3 | €14,083 | €15,082 | - | €13,840 | €13,840 | = |
| Stocks30/36 | - | - | - | €13,840 | €13,840 | = |
| Amounts receivable within one year40/41 | €152,324 | €72,880 | €62,317 | €106,353 | €36,351 | ▼ 65.8% |
| Trade receivables40 | - | - | - | €42,100 | €7,221 | ▼ 82.8% |
| Other amounts receivable41 | - | - | - | €64,253 | €29,129 | ▼ 54.7% |
| Cash at bank and in hand54/58 | €13,647 | €39,379 | €92,207 | €3,986 | €354 | ▼ 91.1% |
| Deferred charges and accrued income490/1 | - | - | - | €2,368 | €211 | ▼ 91.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €271,535 | €222,977 | €174,636 | €148,852 | €66,800 | ▼ 55.1% |
| Equity10/15 | €18,363 | €12,574 | €37,839 | €87,268 | €20,688 | ▼ 76.3% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | = |
| Reserves13 | €4,310 | €4,310 | €19,247 | €68,676 | €2,096 | ▼ 96.9% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | = |
| Distributable reserves133 | - | - | - | €66,816 | €236 | ▼ 99.6% |
| Profit (loss) carried forward14 | -€4,539 | -€10,328 | -€4,539 | - | - | - |
| Amounts payable17/49 | €253,172 | €210,402 | €136,797 | €61,584 | €46,112 | ▼ 25.1% |
| Amounts payable after more than one year17 | €9,553 | €7,271 | €4,778 | - | - | - |
| Amounts payable within one year42/48 | €243,619 | €203,132 | €132,019 | €61,584 | €46,112 | ▼ 25.1% |
| Trade debts44 | €107,050 | €73,054 | €11,389 | €39,313 | €5,063 | ▼ 87.1% |
| Suppliers440/4 | - | - | - | €39,313 | €5,063 | ▼ 87.1% |
| Taxes, remuneration and social security45 | - | - | - | €7,083 | €21,938 | ▲ 210% |
| Taxes450/3 | - | - | - | €2,720 | €2,526 | ▼ 7.1% |
| Remuneration and social security454/9 | - | - | - | €4,363 | €19,412 | ▲ 345% |
| Other amounts payable47/48 | - | - | - | €15,189 | €19,111 | ▲ 25.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,177 | -€5,789 | €25,264 | €49,429 | -€66,580 | ▼ 235% |
| + Depreciation and write-downs630 | €16,895 | €20,687 | - | - | - | - |
| Operating cash flow (approximation) | €4,718 | €14,897 | €25,264 | €49,429 | -€66,580 | ▼ 235% |
| Investment in fixed assets (approximation) | - | -€24,015 | €76,302 | -€2,752 | €6,261 | ▲ 327% |
| Change in cash | - | €25,732 | €52,828 | -€88,220 | -€3,632 | ▲ 95.9% |
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
2024
30-09
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 24-09-2024
2023
10-10
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 28-09-2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet -€66,580
Net result drops to -€66,580, the lowest in the series.
25-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 86 days late
2021
31-12
Financial
Highest result since 2018net €49,429 ▲95.6%
Operating result €50,245, net result €49,429, both a record.
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 87 days late
2020
31-12
Financial
Back to profitnet €25,264
Net result €25,264 after 2 loss-making years.
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 119 days late
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 152 days late
2018
29-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 121 days late
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 122 days late
Show earlier events
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
2014
28-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 28 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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 | PIETER MATTHEESSENS LANGE LOZANASTRAAT 24,
2018 ANTWERPEN 1 |
28-09-2023 → 24-09-2024 |
Recognitions · licences · registrations
Dual-learning approval
1 endedKeukenmedewerker (so)