TrueStar Belgium
Open bankruptcyOverview
Information for creditors
Open bankruptcy
Source: Belgian Official Gazette
Declared bankrupt on 26 November 2024 · trustee Charlotte Piers · a claim can no longer be filed
Creditor guide for this companyThe procedure
- Court
- Enterprise Court of Brussels
- Supervising judge
- Koen Swerten
- Official Gazette
- 02-12-2024search the document for 2024/146746
Deadlines
- Provisional date payments stopped
- 26 November 2024A later judgment can still change the date.art. XX.105, Code of Economic Law
- Appeal or third-party opposition until
- passed on 17 December 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 26 December 2024art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 1 January 2025Reclaim 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 26 November 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
- Charlotte PiersGroenkraaglaan 3, 1170 Brussel 17cp@keylegal.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.
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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 19-02-2015
- Legal form
- Private limited company (pre-2019)
- Activity
- Warehousing and support activities for transportation NACE 52249and 4 others
- Establishment unit
- 2.239.596.673 since 19-02-2015
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
Board
- ORSI MaurizioDirector · since 19-02-2015
Shareholders
- Truestar Group S.P.A.consolidatesannual accounts 2019
Financial position
No score
Annual accounts 2021
- Gross margin
- €85,384
- ▲ 150%
- Turnover
- ≈ €240,000
- estimated
- Loss
- €31,783
- ▼ 52.4%
- Equity
- €85,389
- ▼ 27.1%
- Total assets
- €502,970
- ▲ 53.3%
- Staff
- ≈ 1.6 FTE
- estimated
Financials
Financials · financial year 2021, full format
Annual accounts 2021 filed on 19-07-2022 PDF all 6 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €240,000
Estimated: probably between €150,000 and €460,000
EBIT margin
Not included in this filing
Net result
-€31,783▲ 52.4%
2020 · -€66,707
Working capital
€83,864▼ 34.8%
2020 · €128,588
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
-€27,601
▲ 56.8%
2021
20182021
Net result
-€31,783
▲ 52.4%
2021
lowest quarter of the sector
20182021
Equity
€85,389
▼ 27.1%
2021
lowest quarter of the sector
20182021
Total assets
€502,970
▲ 53.3%
2021
lowest quarter of the sector
20182021
Debt
€417,581
▲ 98.0%
2021
20182021
Working capital
€83,864
▼ 34.8%
2021
middle half of the sector
20182021
Solvency
17.0%
▼ 18.7pp
2021
middle half of the sector
20182021
Current ratio
1.20
▼ 0.46
2021
middle half of the sector
20182021
Return on assets (ROA)
-6.3%
▲ 14.0pp
2021
lowest quarter of the sector
20182021
Staff (FTE)
no figure
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result€127,959-€96,890▼ 24.3%-€63,941-€27,601▲ 56.8%
Net result€92,451-€70,968▼ 23.2%-€66,707below the sector's middle half-€31,783below the sector's middle half▲ 52.4%
Equity€112,911-€183,879▲ 62.9%€117,172below the sector's middle half▼ 36.3%€85,389below the sector's middle half▼ 27.1%
Total assets€389,431-€438,144▲ 12.5%€328,119below the sector's middle half▼ 25.1%€502,970below the sector's middle half▲ 53.3%
Debt€276,520-€254,264▼ 8.0%€210,947▼ 17.0%€417,581▲ 98.0%
Working capital€88,164-€174,905▲ 98.4%€128,588within the sector's middle half▼ 26.5%€83,864within the sector's middle half▼ 34.8%
Solvency29.0%-42.0%▲ 13.0pp35.7%within the sector's middle half▼ 6.3pp17.0%within the sector's middle half▼ 18.7pp
Current ratio1.32-1.69▲ 0.371.66within the sector's middle half▼ 0.031.20within the sector's middle half▼ 0.46
Return on assets (ROA)23.7%-16.2%▼ 7.5pp-20.3%below the sector's middle half▼ 36.5pp-6.3%below the sector's middle half▲ 14.0pp
Staff (FTE)5.9-6▲ 1.7%6below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Warehousing and support activities for transportation (NACE 52). 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 2021 is a loss of €27,601, smaller than the loss of €63,941 in 2020.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €502,970
Fixed assets
€1,525 ▼ 59.7%
Current assets
€501,445 ▲ 54.6%
Equity and liabilities €502,970
Equity
€85,389 ▼ 27.1%
Debt
€417,581 ▲ 98.0%
Debt's share of the balance-sheet total rises from 64.3% to 83.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€25,340▲
2020 · -€58,953
Cash flow
-€29,522▲
2020 · -€61,719
Debt to equity
4.89▲
2020 · 1.80
ROE
-37.2%▲
2020 · -56.9%
Interest coverage
-6.05▲
2020 · -20.12
Debt ≤ 1 year
€417,581▲
2020 · €195,745
Staff costs
€110,724▲
2020 · €93,150
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2020 |
|---|---|
| Employees at the balance-sheet date | 7 |
| full-time | 6 |
| part-time | 1 |
| in full-time equivalents | 6.5 |
| Average over the year, in full-time equivalents | 6 |
| On a permanent contract | 6 |
Source: social balance sheet in the 2020 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €93,150 | €110,724 | ▲ 18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,533 | €15,873 | €4,988 | €2,261 | ▼ 54.7% |
| Gross operating margin9900 | €344,361 | €302,918 | €34,197 | €85,384 | ▲ 150% |
| Operating profit (loss)9901 | €127,959 | €96,890 | -€63,941 | -€27,601 | ▲ 56.8% |
| Financial income75/76B | - | - | €164 | €10 | ▼ 93.9% |
| Recurring financial income75 | €12,373 | €8,067 | €164 | €10 | ▼ 93.9% |
| Financial charges65/66B | - | - | €2,931 | €4,192 | ▲ 43.0% |
| Recurring financial charges65 | €1,947 | €956 | €2,931 | €4,192 | ▲ 43.0% |
| Profit (loss) for the period before taxes9903 | €138,386 | €104,001 | -€66,707 | -€31,783 | ▲ 52.4% |
| Income taxes67/77 | €45,935 | €33,033 | - | - | - |
| Profit (loss) for the period9904 | €92,451 | €70,968 | -€66,707 | -€31,783 | ▲ 52.4% |
| Profit (loss) for the period to be appropriated9905 | €92,451 | €70,968 | -€66,707 | -€31,783 | ▲ 52.4% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €389,431 | €438,144 | €328,119 | €502,970 | ▲ 53.3% |
| Formation expenses20 | €0 | - | - | - | - |
| Fixed assets21/28 | €24,747 | €8,974 | €3,786 | €1,525 | ▼ 59.7% |
| Intangible fixed assets21 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €23,122 | €7,249 | €2,261 | - | - |
| Plant, machinery and equipment23 | - | - | €1,586 | - | - |
| Furniture and vehicles24 | - | - | €675 | - | - |
| Financial fixed assets28 | €1,625 | €1,725 | €1,525 | €1,525 | = |
| Current assets29/58 | €364,684 | €429,169 | €324,333 | €501,445 | ▲ 54.6% |
| Stocks and contracts in progress3 | €4,176 | €9,047 | €2,395 | - | - |
| Stocks30/36 | - | - | €2,395 | - | - |
| Amounts receivable within one year40/41 | €243,165 | €226,049 | €286,899 | €345,427 | ▲ 20.4% |
| Trade receivables40 | - | - | €207 | €69,378 | ▲ 336× |
| Other amounts receivable41 | - | - | €286,692 | €276,049 | ▼ 3.7% |
| Current investments50/53 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €115,058 | €193,421 | €35,039 | €156,018 | ▲ 345% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €389,431 | €438,144 | €328,119 | €502,970 | ▲ 53.3% |
| Equity10/15 | €112,911 | €183,879 | €117,172 | €85,389 | ▼ 27.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €92,451 | €163,419 | €96,712 | €64,929 | ▼ 32.9% |
| Amounts payable17/49 | €276,520 | €254,264 | €210,947 | €417,581 | ▲ 98.0% |
| Amounts payable within one year42/48 | €276,520 | €254,264 | €195,745 | €417,581 | ▲ 113% |
| Trade debts44 | €132,381 | €149,676 | €141,870 | €333,252 | ▲ 135% |
| Suppliers440/4 | - | - | €141,870 | €333,252 | ▲ 135% |
| Taxes, remuneration and social security45 | - | - | €52,582 | €83,037 | ▲ 57.9% |
| Taxes450/3 | - | - | €35,002 | €77,416 | ▲ 121% |
| Remuneration and social security454/9 | - | - | €17,580 | €5,621 | ▼ 68.0% |
| Other amounts payable47/48 | - | - | €1,293 | €1,292 | = |
| Accrued charges and deferred income492/3 | - | - | €15,202 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,451 | €70,968 | -€66,707 | -€31,783 | ▲ 52.4% |
| + Depreciation and write-downs630 | €15,533 | €15,873 | €4,988 | €2,261 | ▼ 54.7% |
| Operating cash flow (approximation) | €107,984 | €86,841 | -€61,719 | -€29,522 | ▲ 52.2% |
| Investment in fixed assets (approximation) | - | -€100 | €200 | €0 | ▼ 100% |
| Change in cash | - | €78,363 | -€158,382 | €120,980 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | full format | 19-07-2022 | 2022-20211592 | |
| 31-12-2020 | full format | 19-07-2022 | 2022-20211599 | |
| 31-12-2019 | full format | 03-08-2020 | 2020-38300332 | |
| 31-12-2018 | full format | 19-06-2019 | 2019-19700493 | |
| 31-12-2017 | full format | 15-06-2018 | 2018-18700593 | |
| 31-12-2016 | full format | 01-08-2017 | 2017-40200076 |
Board & ownership
Directors
Directors
1 director
ORSI Maurizio
Current
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Charlotte Piers Groenkraaglaan 3, 1170 Brussel 17 |
26-11-2024 → present |
Owners and capital
Shareholders
1 ownerChain of control
- Truestar Group S.P.A.IT
- TrueStar Belgium
Owners 1
- Truestar Group S.P.A.ITconsolidating parentconsolidates
Network & group
Companies at the same address
260 other companies- European Society for Brain Stimulation Registered office · since 2026 1038230392
- Hot Investments Registered office · since 2026 1037606426
- BYD Belgium - Luxembourg Registered office · since 2026 1034470257
- Expert Air Services Registered office · since 2026 1034414136
- EVER CARE EUROPE Registered office · since 2026 1033858266
- YING YAN YI XUE TECHNOLOGY Registered office · since 2025 1007566912
- COMPTAXIA Registered office · since 2025 1031513440
- ASBL KAIOS Registered office · since 2025 0734594856
- UMBRELLA REFUGEE COMMITTEE Registered office · since 2025 0794839081
- CRAVR Registered office · since 2025 1025562786
Connections & network
1 current directorThe network starts from the directors of TrueStar Belgium. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2024
02-12
Bankruptcy
Bankruptcy declared
Enterprise Court of Brussels · judgment of 26-11-2024
2022
19-07
full format · 12 days before the deadline
19-07
full format · 353 days late
15-07
Bankruptcy
Judicial dissolution, liquidator appointed
French-language Enterprise Court of Brussels · liquidator: J. Piron · judgment of 07-07-2022
2020
31-12
Financial
Weakest financial yearnet -€66,707
The net result drops to -€66,707, the lowest from 2018 to 2021.
03-08
full format · 3 days late
2019
31-12
Financial
Equity above €150,000equity €183,879 ▲62.9%
With a profit in every financial year since 2018, equity grows to €183,879.
19-06
full format · 42 days before the deadline
2018
15-06
full format · 46 days before the deadline
2017
01-08
full format · 1 day late
2015
23-02
3 publications in the Belgian Official Gazette, the last on 23-07-2019
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 December 2021
- Legal form
- Private limited company (pre-2019)
- Active since
- 19 February 2015
Register details
Identity
Name
TrueStar Belgium in French
Enterprise number
0598.818.711
Entity type
Legal entity
Registered office and establishments
Establishment unit
TrueStar Belgium since 19-02-2015 · unit number 2.239.596.6735224901 Warehousing and support activities for transportation
Activities
NACEBEL 202552249
Warehousing and support activities for transportation main activity
74999
Other professional, scientific and technical activities
80090
Investigation and security activities
82920
Office administrative, office support and other business support activities
82990
Other business support services
Codes under NACEBEL 2008
52249
Warehousing and support activities for transportation main activity
74909
Other professional, scientific and technical activities
80200
Investigation and security activities
82920
Office administrative, office support and other business support activities
82990
Other business support services
Invoicing and payment
VAT number
BE 0598.818.711
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
100 m²
Building footprint
99 m²
Building volume
2,129 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21803C0244/00A002 | Brussels | 100 m² | 1 · 99 m² | 23.6 m · 8 |