TOP DEVELOPMENT
Open bankruptcyOverview
Information for creditors
Open bankruptcy
Source: Belgian Official Gazette
Declared bankrupt on 15 January 2024 · trustee Jacques Piron · a claim can no longer be filed
Creditor guide for this companyThe procedure
- Court
- French-language Enterprise Court of Brussels
- Supervising judge
- Pierre Carlier
- Official Gazette
- 24-01-2024search the document for 2024/102484
Deadlines
- Appeal or third-party opposition until
- passed on 8 February 2024That is fifteen days after the publication in the Official Gazette.art. XX.108, Code of Economic Law
- File the claim in RegSol, the Belgian insolvency register, until
- passed on 14 February 2024art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 14 February 2024Reclaim goods that are still yours, such as goods delivered under retention of title, before this day.art. XX.104 and XX.194, Code of Economic Law
- Late claim until
- passed on 15 January 2025A late claim shares only in what has not yet been paid out. You bear the costs of that claim.art. XX.165, Code of Economic Law
Trustee
- Jacques PironAvenue De La Toison D’Or 77, 1060 Saint-Gillesj.piron@apmlaw.be
Steps for a creditor
- The deadlines to file your claim have passed, including for a late claim. That was possible until a year after the judgment.
- Ask the trustee whether anything will still be paid out and whether your claim was admitted.
- Follow the file in RegSol. The trustee's reports appear there.
- Ask your accountant about the VAT on the unpaid invoices. In a bankruptcy it can be recovered, subject to conditions.
A late claim was possible until a year after the judgment (art. XX.165, Code of Economic Law). That deadline has passed too.
The judgment is more than a year old. A claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.
Follow
Follow this bankruptcy and you are notified the next morning if it is closed or reversed.
This is general information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.
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Overview
Official details
Source: KBO- Status
- Open bankruptcy registered since 30-01-2020
- Activity
- Plumbing work NACE 43221and 3 others
- Establishment unit
- 2.298.888.815 1020 Brussel, since 30-01-2020
- Financial year end
- 31 August
- Peppol
- Reachable
Financial position
No score
Annual accounts to 31-08-2022
- Gross margin
- -€53,442
- Loss
- €119,056
- Equity
- €14,526
- ▼ 89.1%
- Total assets
- €271,602
- ▼ 27.1%
- Employees on 31-08-2022
- 2
- =
Financials
Financials · financial year 2022, micro format
2022 annual accounts filed 7 days after the deadline Filed on 7 April 2023, deadline 31 March 2023 (7 months after the close on 31 August 2022, Companies Code art. 3:10). Source: NBB, 2023-00055991.
Annual accounts 2022 filed on 07-04-2023 PDF all 3 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€119,056
2021 · €37,325
Working capital
€29,971▼ 77.3%
2021 · €132,139
Multi-year overview
2020 to 2022, 3 financial yearsOperating result
-€109,997
2022
20202022
Net result
-€119,056
2022
lowest quarter of the sector
20202022
Equity
€14,526
▼ 89.1%
2022
lowest quarter of the sector
20202022
Total assets
€271,602
▼ 27.1%
2022
middle half of the sector
20202022
Debt
€257,076
▲ 7.6%
2022
20202022
Working capital
€29,971
▼ 77.3%
2022
middle half of the sector
20202022
Solvency
5.3%
▼ 30.5pp
2022
lowest quarter of the sector
20202022
Current ratio
1.16
▼ 0.52
2022
middle half of the sector
20202022
Return on assets (ROA)
-43.8%
▼ 53.9pp
2022
lowest quarter of the sector
20202022
Staff (FTE)
2
▲ 11.1%
2022
20202022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022
Operating result€155,110-€50,720▼ 67.3%-€109,997
Net result€125,257above the sector's middle half-€37,325within the sector's middle half▼ 70.2%-€119,056below the sector's middle half
Equity€96,257within the sector's middle half-€133,582within the sector's middle half▲ 38.8%€14,526below the sector's middle half▼ 89.1%
Total assets€393,848within the sector's middle half-€372,545within the sector's middle half▼ 5.4%€271,602within the sector's middle half▼ 27.1%
Debt€297,591-€238,963▼ 19.7%€257,076▲ 7.6%
Working capital€59,520within the sector's middle half-€132,139within the sector's middle half▲ 122%€29,971within the sector's middle half▼ 77.3%
Solvency24.4%within the sector's middle half-35.9%within the sector's middle half▲ 11.4pp5.3%below the sector's middle half▼ 30.5pp
Current ratio1.22within the sector's middle half-1.68within the sector's middle half▲ 0.461.16within the sector's middle half▼ 0.52
Return on assets (ROA)31.8%above the sector's middle half-10.0%within the sector's middle half▼ 21.8pp-43.8%below the sector's middle half▼ 53.9pp
Staff (FTE)0.7below the sector's middle half-1.8below the sector's middle half▲ 157%2▲ 11.1%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2022 is a loss of €109,997, after a profit of €50,720 in 2021. It is the lowest result since 2020.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €271,602
Fixed assets
€54,293 ▲ 18.3%
Current assets
€217,309 ▼ 33.5%
Equity and liabilities €271,602
Equity
€14,526 ▼ 89.1%
Debt
€257,076 ▲ 7.6%
Debt's share of the balance-sheet total rises from 64.1% to 94.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€79,809▼
2021 · €65,061
Cash flow
-€88,868▼
2021 · €51,666
Quick ratio
1.15▼
2021 · 1.68
Debt to equity
17.70▲
2021 · 1.79
ROE
-819.6%▼
2021 · 27.9%
Interest coverage
-8.98▼
2021 · 19.85
Debt ≤ 1 year
€187,339▼
2021 · €194,516
Debt > 1 year
€69,737▲
2021 · €44,446
Income taxes
€775▼
2021 · €10,680
Staff costs
€15,186▼
2021 · €22,804
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-08-2021 | 31-08-2022 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 2 |
| part-time | 2 | 2 |
| in full-time equivalents | 1.4 | 1.4 |
| Average over the year, in full-time equivalents | 1.2 | 1 |
| On a permanent contract | 2 | 2 |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 31-08-2021 | 31-08-2022 |
|---|---|---|
| Tangible fixed assets | €35,115 | €38,592 |
| Depreciation and write-downs of the year | €14,341 | €30,188 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €22,804 | €15,186 | ▼ 33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,083 | €14,341 | €30,188 | ▲ 111% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €480,000 | - | - |
| Other operating charges640/8 | - | €6,266 | €11,181 | ▲ 78.4% |
| Non-recurring operating charges66A | - | €40,198 | - | - |
| Gross operating margin9900 | €174,088 | €614,329 | -€53,442 | - |
| Operating profit (loss)9901 | €155,110 | €50,720 | -€109,997 | - |
| Financial income75/76B | - | €562 | €601 | ▲ 6.9% |
| Recurring financial income75 | €8 | €562 | €601 | ▲ 6.9% |
| Financial charges65/66B | - | €3,277 | €8,885 | ▲ 171% |
| Recurring financial charges65 | €1,113 | €3,277 | €8,885 | ▲ 171% |
| Profit (loss) for the period before taxes9903 | €154,005 | €48,005 | -€118,281 | - |
| Income taxes67/77 | €28,748 | €10,680 | €775 | ▼ 92.7% |
| Profit (loss) for the period9904 | €125,257 | €37,325 | -€119,056 | - |
| Profit (loss) for the period to be appropriated9905 | €125,257 | €37,325 | -€119,056 | - |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €393,848 | €372,545 | €271,602 | ▼ 27.1% |
| Fixed assets21/28 | €65,365 | €45,889 | €54,293 | ▲ 18.3% |
| Tangible fixed assets22/27 | €64,205 | €44,729 | €53,133 | ▲ 18.8% |
| Plant, machinery and equipment23 | - | €11,153 | €7,921 | ▼ 29.0% |
| Furniture and vehicles24 | - | €33,576 | €45,212 | ▲ 34.7% |
| Financial fixed assets28 | €1,160 | €1,160 | €1,160 | = |
| Current assets29/58 | €328,483 | €326,655 | €217,309 | ▼ 33.5% |
| Stocks and contracts in progress3 | - | - | €1,700 | - |
| Stocks30/36 | - | - | €1,700 | - |
| Amounts receivable within one year40/41 | €196,991 | €247,371 | €212,579 | ▼ 14.1% |
| Trade receivables40 | - | €245,150 | €209,260 | ▼ 14.6% |
| Other amounts receivable41 | - | €2,222 | €3,320 | ▲ 49.4% |
| Cash at bank and in hand54/58 | €131,492 | €28,404 | €1,658 | ▼ 94.2% |
| Deferred charges and accrued income490/1 | - | €50,880 | €1,372 | ▼ 97.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €393,848 | €372,545 | €271,602 | ▼ 27.1% |
| Equity10/15 | €96,257 | €133,582 | €14,526 | ▼ 89.1% |
| Contributions10/11 | - | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | €95,257 | €132,582 | €13,526 | ▼ 89.8% |
| Amounts payable17/49 | €297,591 | €238,963 | €257,076 | ▲ 7.6% |
| Amounts payable after more than one year17 | €28,628 | €44,446 | €69,737 | ▲ 56.9% |
| Financial debts170/4 | - | €44,446 | €69,737 | ▲ 56.9% |
| Amounts payable within one year42/48 | €268,963 | €194,516 | €187,339 | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | - | €10,182 | €35,463 | ▲ 248% |
| Trade debts44 | €162,025 | €97,929 | €81,161 | ▼ 17.1% |
| Suppliers440/4 | - | €97,929 | €81,161 | ▼ 17.1% |
| Taxes, remuneration and social security45 | - | €32,653 | €13,058 | ▼ 60.0% |
| Taxes450/3 | - | €13,394 | €3,818 | ▼ 71.5% |
| Remuneration and social security454/9 | - | €19,259 | €9,240 | ▼ 52.0% |
| Other amounts payable47/48 | - | €53,752 | €57,657 | ▲ 7.3% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €125,257 | €37,325 | -€119,056 | - |
| + Depreciation and write-downs630 | €6,083 | €14,341 | €30,188 | ▲ 111% |
| Operating cash flow (approximation) | €131,340 | €51,666 | -€88,868 | - |
| Investment in fixed assets (approximation) | - | €5,135 | -€38,592 | - |
| Change in cash | - | -€103,088 | -€26,746 | ▲ 74.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Directors
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Jacques Piron Avenue De La Toison D’Or 77, 1060 Saint-Gilles |
15-01-2024 → present |
Owners and capital
Owners
Timeline
Acts, filings and financial milestones
2024
24-01
Bankruptcy
Bankruptcy declared
French-language Enterprise Court of Brussels · judgment of 15-01-2024
2023
07-04
micro format · 7 days late
2022
31-08
Financial
Weakest financial yearnet -€119,056
The net result drops to -€119,056, the lowest from 2020 to 2022.
28-04
full format · 28 days late
2021
31-08
Financial
Equity above €100,000equity €133,582 ▲38.8%
With a profit in every financial year since 2020, equity grows to €133,582.
22-03
full format · 9 days before the deadline
2020
03-02
2 publications in the Belgian Official Gazette, the last on 02-07-2020
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Opening faillissement
- Last annual accounts
- financial year to 31 August 2022
- Legal form
- Private limited company
- Active since
- 30 January 2020
Register details
Identity
Name
TOP DEVELOPMENT in French
Enterprise number
0742.691.485
Entity type
Legal entity
Registered office and establishments
Registered office
Lenteklokjeslaan 23, 1020 Brussel, Belgium
Establishment unit
TOP DEVELOPMENT, Lenteklokjeslaan 23, 1020 Brussel since 30-01-2020 · unit number 2.298.888.8154100101 General construction of residential buildings
Activities
NACEBEL 202543221
Plumbing work main activity
43320
Joinery installation
43341
Painting of buildings
43422
Screed work
Codes under NACEBEL 2008
43221
Plumbing main activity
43320
Joinery installation
43341
Painting of buildings
43996
Specialised construction activities
Invoicing and payment
VAT number
BE 0742.691.485
Financial year and general meeting
Accounts at the NBBFinancial year end
31-08
Sites & property
Location
Buildings and parcels at the address
Ground area
423 m²
Building footprint
107 m²
Building volume
1,179 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21819C0155/00G000 | Brussels | 423 m² | 1 · 107 m² | 14.0 m · 4 |