Active BE 0867.367.763Private limited company (pre-2019)Open bankruptcy

TORAFA

Kortrijkstraat(Z) 77 ·8550 Zwevegem, Belgium· 21 yrs active

Sector: Wholesale trade (46711)

Conclusion Checked

A bankruptcy procedure is open for TORAFA according to publications in the Belgian State Gazette. The 2020 annual accounts show negative equity (€-25k) and a net result of €-3k.

Based on the State Gazette, CBE and 2 annual accounts.

Key figures

Equity	€-25k
Net result	€-3k
Better than sector	17%
Active	21 yrs

Snowflake analysis 5 axes · computed by Checked

39 / 100

Fragile profile, watch health in particular.

Health 0

Profitability 64

Solvency 55

Growth 78

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High risk

Components

· Open bankruptcy (+50)

Trust signals 1 signals

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 0 events

No administrative flags

Health barometer FY 2020 · computed

0 / 100 Critical

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 08-12-2022 with the NBB · fiscal year 2020 · micro

Operating resultNet result

Sector comparison

Fiscal year 2020 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	-17.9%	26.3%	better than 17% of 792 sector peers
Net result	€-3k	€5k	better than 27% of 789 sector peers
Equity	€-25k	€34k	better than 16% of 794 sector peers
Gross operating margin	€10k	€21k	better than 35% of 787 sector peers
Total assets	€139k	€173k	better than 43% of 792 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€-10k

- 18-20

Net profit

€-3k

+92.4% 18-20

Cash flow

€-40k

- 18-20

Total assets

€139k

+5.8% 18-20

Equity

€-25k

+30.3% 18-20

Working capital

€45k

- 18-20

Staff costs

€11k

- 18-20

Income taxes

€381

-5.4% 18-20

Debt

€163k

-1.9% 18-20

Debt ≤ 1y

€94k

-43.6% 18-20

Debt > 1y

€70k

- 18-20

Current ratio

1.48

+89.7% 18-20

Quick ratio

0.92

+218.8% 18-20

Solvency

-17.9%

+34.1% 18-20

Debt / equity

-6.57

- 18-20

ROE

12.8%

-89.1% 18-20

ROA

-2.3%

+92.8% 18-20

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2020
Revenue	-
EBITDA	-
Net profit	€-3k
Cash flow	-
Staff costs	€11k
Income taxes	€381
Dividends	-
Total assets	€139k
Equity	€-25k
Debt	€163k
of which ≤ 1y	€94k
of which > 1y	€70k
Working capital	€45k
Employees (FTE)	-

Ratios (computed)

	2020
Current ratio	1.48
Quick ratio	0.92
Working capital ratio	32.2%
Solvency	-17.9%
Debt / equity	-6.57
Long-term debt ratio	-2.80
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-2.3%
ROE	12.8%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€139k
Current assets	29/58	€139k
Stocks & contracts in progress	3	€52k
Amounts receivable within one year	40/41	€75k
Cash & bank	54/58	€12k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€139k
Equity	10/15	€-25k
Contributions / capital	10/11	€6k
Accumulated profits (losses)	14	€-31k
Amounts payable	17/49	€163k
Amounts payable after one year	17	€70k
Amounts payable within one year	42/48	€94k
Trade debts payable within one year	44	€39k
Income statement
Gross operating margin	9900	€10k
Operating result	9901	€-3k
Financial income	75	€4k
Financial charges	65	€4k
Result before taxes	9903	€-3k
Income taxes	67/77	€381
Net result for the period	9904	€-3k
Result to be appropriated	9905	€-3k

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Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	RANDALL HUYSENTRUYT DEKEN CAMERLYNCK- LAAN 85, 8500 KORTRIJK	17-10-2023 → present	Belgian State Gazette

Legal Structure

NACE primary	Wholesale trade(46711)
Legal form	Private limited company (pre-2019)(015)
Incorporation	22-09-2004
Status	Active
Postal code	8550
First BS signal	30-10-2023
Latest BS signal	30-10-2023

Company structure, linked entities1 linked entities

Mandates

Establishment units 1 location

TORAFA

Kortrijkstraat(Z) 77, 8550 ZwevegemGroothandel in motorvoertuigen

since 20052.142.209.861

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
34042D0083/00K004	Flanders	867 m²	1 · 111 m²	9.3 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023

30-10-2023

Bankruptcy Opening

Ondernemingsrechtbank Gent, afdeling Kortrijk · TORAFA BV KORTRIJK- STRAAT 77, 8550 ZWEVEGEM · event 17-10-2023

2022

08-12-2022