TOPPLAN
InactiveTOPPLAN was declared bankrupt on 20-02-2023 (Tribunal de l’entreprise de Liège, division Liège); the bankruptcy was closed for insufficient assets by judgment of 09-12-2025, published in the Belgian State Gazette on 16-12-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Liège
- Opened
- 20 September 2022
- Track
- Reorganisation by collective agreement
- Docket number
- 20220033
- Moratorium until
- 20 December 2022 (passed; an extension would be in a later judgment)
- Creditors' vote
- 13 December 2022
- Delegated judge
- Alain Piekarek
- Official Gazette
- 27-09-2022 (pdf) ↗search the document for 2022/133075
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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 31-12-2022, 4 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
31-12-2022 close31-07-2023 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 30-06-2022, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
31 d early
2020
31 d early
2019
17 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 15 days before 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
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2021, micro schema
Equity
€21,197▼ 14.5%
2020 · €24,792
Total assets
€296,252▲ 25.1%
2020 · €236,785
Net result
-€3,595
2020 · €4,793
Working capital
€11,654▼ 5.6%
2020 · €12,348
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
Line2018201920202021
Operating result€8,348-€1,459▼ 82.5%€8,742▲ 499%€728▼ 91.7%
Net result€9,352-€106▼ 98.9%€4,793▲ 4,437%-€3,595
Equity€19,893-€19,999▲ 0.5%€24,792▲ 24.0%€21,197▼ 14.5%
Total assets€289,499-€268,248▼ 7.3%€236,785▼ 11.7%€296,252▲ 25.1%
Debt€269,605-€248,249▼ 7.9%€211,993▼ 14.6%€275,055▲ 29.7%
Working capital-€4,141--€1,570▲ 62.1%€12,348€11,654▼ 5.6%
Staff (FTE)4.4-4.6▲ 4.5%3.6▼ 21.7%5.8▲ 61.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2021; 2021 is 92% below 2020 and is the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €296,252
Fixed assets
€9,543 ▼ 23.3%
Current assets
€286,709 ▲ 27.8%
Equity and liabilities €296,252
Equity
€21,197 ▼ 14.5%
Debt
€275,055 ▲ 29.7%
Debt's share of the balance-sheet total rises from 89.5% to 92.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,256▼
2020 · €17,867
Cash flow
€3,933▼
2020 · €13,918
Current ratio
1.04▼
2020 · 1.06
Quick ratio
0.73▼
2020 · 0.90
Debt to equity
12.98
ROE
-17.0%▼
2020 · 19.3%
ROA
-1.2%▼
2020 · 2.0%
Interest coverage
2.18
Debt ≤ 1 year
€275,055▲
2020 · €211,993
Income taxes
€1,267▼
2020 · €1,884
Staff costs
€122,608
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 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €25,366 | - |
| Remuneration, social security and pensions62 | - | - | - | €122,608 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,473 | €11,353 | €9,125 | €7,528 | ▼ 17.5% |
| Other operating charges640/8 | - | - | - | €3,379 | - |
| Non-recurring operating charges66A | - | - | - | €5,347 | - |
| Gross operating margin9900 | €147,638 | €142,626 | €108,833 | €139,591 | ▲ 28.3% |
| Operating profit (loss)9901 | €8,348 | €1,459 | €8,742 | €728 | ▼ 91.7% |
| Financial income75/76B | - | - | - | €728 | - |
| Recurring financial income75 | €1,470 | €147 | €68 | €728 | ▲ 969% |
| Financial charges65/66B | - | - | - | €3,783 | - |
| Recurring financial charges65 | €467 | €430 | €2,133 | €3,783 | ▲ 77.4% |
| Profit (loss) for the period before taxes9903 | €9,352 | €1,176 | €6,677 | -€2,328 | ▼ 135% |
| Income taxes67/77 | - | €1,071 | €1,884 | €1,267 | ▼ 32.7% |
| Profit (loss) for the period9904 | €9,352 | €106 | €4,793 | -€3,595 | ▼ 175% |
| Profit (loss) for the period to be appropriated9905 | €9,352 | €106 | €4,793 | -€3,595 | ▼ 175% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €289,499 | €268,248 | €236,785 | €296,252 | ▲ 25.1% |
| Fixed assets21/28 | €25,417 | €21,569 | €12,444 | €9,543 | ▼ 23.3% |
| Tangible fixed assets22/27 | €25,342 | €21,494 | €12,369 | €9,468 | ▼ 23.5% |
| Plant, machinery and equipment23 | - | - | - | €2,412 | - |
| Furniture and vehicles24 | - | - | - | €7,056 | - |
| Financial fixed assets28 | €75 | €75 | €75 | €75 | = |
| Current assets29/58 | €264,082 | €246,679 | €224,341 | €286,709 | ▲ 27.8% |
| Stocks and contracts in progress3 | €113,727 | €34,688 | €32,608 | €86,983 | ▲ 167% |
| Stocks30/36 | - | - | - | €16,594 | - |
| Contracts in progress37 | - | - | - | €70,389 | - |
| Amounts receivable within one year40/41 | €91,315 | €158,405 | €93,808 | €88,893 | ▼ 5.2% |
| Trade receivables40 | - | - | - | €88,050 | - |
| Other amounts receivable41 | - | - | - | €843 | - |
| Cash at bank and in hand54/58 | €57,358 | €8,418 | €55,635 | €101,309 | ▲ 82.1% |
| Deferred charges and accrued income490/1 | - | - | - | €9,523 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €289,499 | €268,248 | €236,785 | €296,252 | ▲ 25.1% |
| Equity10/15 | €19,893 | €19,999 | €24,792 | €21,197 | ▼ 14.5% |
| Contributions10/11 | €12,900 | €12,900 | - | €12,900 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €5,133 | €5,239 | €10,032 | €6,437 | ▼ 35.8% |
| Amounts payable17/49 | €269,605 | €248,249 | €211,993 | €275,055 | ▲ 29.7% |
| Amounts payable after more than one year17 | €1,383 | - | - | - | - |
| Amounts payable within one year42/48 | €268,222 | €248,249 | €211,993 | €275,055 | ▲ 29.7% |
| Trade debts44 | €188,786 | €176,923 | €174,742 | €245,720 | ▲ 40.6% |
| Suppliers440/4 | - | - | - | €245,720 | - |
| Taxes, remuneration and social security45 | - | - | - | €23,571 | - |
| Taxes450/3 | - | - | - | €23,571 | - |
| Other amounts payable47/48 | - | - | - | €5,764 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,352 | €106 | €4,793 | -€3,595 | ▼ 175% |
| + Depreciation and write-downs630 | €7,473 | €11,353 | €9,125 | €7,528 | ▼ 17.5% |
| Operating cash flow (approximation) | €16,825 | €11,458 | €13,918 | €3,933 | ▼ 71.7% |
| Investment in fixed assets (approximation) | - | -€7,504 | €0 | -€4,627 | - |
| Change in cash | - | -€48,940 | €47,217 | €45,674 | ▼ 3.3% |
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
2025
16-12
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise de Liège, division Liège · event 09-12-2025
2023
27-02
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 20-02-2023
2022
27-09
Judicial reorganisation
Opening
Tribunal de l’entreprise de Liège · collective agreement · event 20-09-2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€3,595
Net result drops to -€3,595, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 17 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
09-01
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 162 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
2015
09-07
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
15-10
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 76 days late
2013
29-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 29 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | KOENRAAD TANGHE RUE DUVIVIER 22,
4000 LIEGE 1 |
20-02-2023 → 09-12-2025 |
| Curator | SAMUEL VAN DURME PLACE GEORGES ISTA 28, 4030 GRIVEGNEE (LIEGE)- |
20-02-2023 → 09-12-2025 |