TIME & ART CONCEPT
InactiveTIME & ART CONCEPT was declared bankrupt on 21-11-2022 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed by liquidation by judgment of 24-06-2025, published in the Belgian State Gazette on 02-07-2025.
No longer registered with the KBO; last annual accounts for fiscal year 2016.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2016. Since then, 9 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 8 filingsPosition against the passed deadline
31-12-2017 close31-07-2018 deadline21-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2016 was due by 31-07-2017 and was filed on 17-09-2018, 413 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
Financials · fiscal year 2016, abbreviated schema
Equity
€9k▲ 334%
2015 · €2k
2012: €-4k
2013: €-6k
2014: €-3k
2015: €2k
2012 → 2016
Total assets
€116k▲ 130%
2015 · €51k
2012: €11k
2013: €5k
2014: €205
2015: €51k
2012 → 2016
Net result
€10k▲ 83.2%
2015 · €5k
2012: €-7k
2013: €-2k
2014: €3k
2015: €5k
2012 → 2016
Working capital
€63k▲ 2,805%
2015 · €2k
2012: €-9k
2013: €-8k
2014: €-3k
2015: €2k
2012 → 2016
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20122013201420152016Trend
Equity€-4k-€-6k▼ 70.9%€-3k▲ 45.7%€2k€9k▲ 334%
Operating result€-7k-€-2k▲ 62.4%€3k€5k▲ 97.9%€10k▲ 82.9%
Net result€-7k-€-2k▲ 64.1%€3k€5k▲ 97.4%€10k▲ 83.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2016 is 83% above 2015 and is the highest result in the available series.
Balance-sheet composition
2016 in colour, 2015 as the grey bar beneath
Assets €116k
Fixed assets
€2k
Current assets
€115k
Equity and liabilities €116k
Equity
€9k▲ 334%
Provisions
€55k
Debt
€52k▲ 7.7%
The debt ratio falls from 95.7% to 44.7%. Equity and debt are higher.
Key figures and ratios
Solvency
8.0%▲
2015 · 4.3%
Current ratio
2.20▲
2015 · 1.04
Quick ratio
2.20▲
2015 · 1.04
ROE
106.3%▼
2015 · 251.7%
ROA
8.5%▼
2015 · 10.7%
Debt
€52k▲
2015 · €48k
Debt ≤ 1 year
€52k▲
2015 · €48k
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 · 2016 against 2015
Balance sheet
Code20152016
Assets
Total assets20/58€51k€116k▲
Fixed assets21/28-€2k
Tangible fixed assets22/27-€2k
Financial fixed assets28-€30
Current assets29/58€51k€115k▲
Stocks and contracts in progress3-€351
Amounts receivable within one year40/41€27k€46k▲
Cash at bank and in hand54/58€17k€59k▲
Equity and liabilities
Total equity and liabilities10/49€51k€116k▲
Equity10/15€2k€9k▲
Contributions10/11€6k€6k=
Profit (loss) carried forward14€-4k€3k▲
Provisions and deferred taxes16-€55k
Amounts payable17/49€48k€52k▲
Amounts payable within one year42/48€48k€52k▲
Trade debts44€38k€40k▲
Income statement
Code20152016
Gross operating margin9900€5k€65k▲
Operating profit (loss)9901€5k€10k▲
Recurring financial charges65€12€1▼
Profit (loss) for the period before taxes9903€5k€10k▲
Profit (loss) for the period9904€5k€10k▲
Profit (loss) for the period to be appropriated9905€5k€10k▲
Timeline · acts, filings and financial milestones
2025
02-07
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise francophone de Bruxelles · TIME & ART CONCEPT SPRL AVENUE DE SCHEUT 161, 1070 ANDERLECHT. déclarée le 21 novembre 2022 · event 24-06-2025
2022
28-11
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · TIME & ART CONCEPT SPRL AVENUE DE SCHEUT 161, 1070 ANDERLECHT · event 21-11-2022
2019
17-12
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise francophone de Bruxelles · TIME & ART CONCEPT SPRL AVENUE DE SCHEUT 161, 1070 ANDERLECHT. déclarée le 30 septembre 2019 · event 11-12-2019
07-10
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · TIME & ART CONCEPT SPRL AVENUE DE SCHEUT 161, 1070 ANDERLECHT · event 30-09-2019
2018
17-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 413 days late
2017
12-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 165 days late
2016
31-12
Financial
Highest result since 2012net €10k ▲83.2%
Operating result €10k, net result €10k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.20
Current ratio from 1.04 to 2.20.
2015
31-12
Financial
Liquidity times 18current ratio 1.04
Current ratio from 0.06 to 1.04.
14-10
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 75 days late
2014
31-12
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
18-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 18 days late
2013
19-07
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
2012
18-06
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema
2011
01-07
NBB filing
Annual accounts filed
fiscal year 2010 · abbreviated schema
2010
31-08
NBB filing
Annual accounts filed
fiscal year 2009 · abbreviated schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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
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.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | ANICET BAUM AVENUE ARMAND HUYSMANS 212,
1050 IXELLES |
21-11-2022 → present |
| Curator | MAIA GUTMANN LE PAIGE RUE DE LA LOI 28,
1040 BRUXELLES 4 |
30-09-2019 → present |