TWIN ARC

Open bankruptcy

Public limited companyfounded 2003Europark 27, 3620 Lanaken, BelgiumKBO/BCE: BE 0480.377.949

A bankruptcy procedure is open for TWIN ARC according to publications in the Belgian State Gazette. The file additionally contains 2 judicial reorganisations. The 2024 annual accounts show negative equity (€-237k) and a net result of €-346k.

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Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Negative equity

The 2024 annual accounts show negative equity and a net loss.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €-237k

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

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

Belgian State Gazette

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-08-2025, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

18 d late

2023

59 d late

2022

38 d early

2021

27 d early

2020

30 d late

2019

7 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€-237k

2023 · €109k

2018: €243k 2019: €204k 2020: €209k 2021: €287k 2022: €267k 2023: €109k

2018 → 2024

Total assets

€747k▲ 12.3%

2023 · €665k

2018: €2.38M 2019: €2.06M 2020: €1.88M 2021: €1.56M 2022: €853k 2023: €665k

2018 → 2024

Net result

€-346k▼ 119%

2023 · €-158k

2018: €-19k 2019: €-39k 2020: €4k 2021: €79k 2022: €-20k 2023: €-158k

2018 → 2024

Working capital

€287k▲ 8.7%

2023 · €264k

2018: €441k 2019: €606k 2020: €1.10M 2021: €1.23M 2022: €442k 2023: €264k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€209k-€287k▲ 37.8%€267k▼ 7.0%€109k▼ 59.2%€-237k

Operating result€-25k-€115k€-881€-151k▼ 16,995%€-340k▼ 126%

Net result€4k-€79k▲ 1,803%€-20k€-158k▼ 682%€-346k▼ 119%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €340k in 2024 against €151k in 2023; the loss grows and 2024 has the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €747k

99.6%

Fixed assets €3k=

Current assets €744k▲ 12.4%

Key figures and ratios

2024 value · change against 2023

Solvency

-31.7%▼

2023 · 16.4%

Current ratio

1.63▼

2023 · 1.66

Quick ratio

1.38▼

2023 · 1.39

Debt / equity

-4.15▼

2023 · 5.11

ROA

-46.3%▼

2023 · -23.8%

Debt

€984k▲

2023 · €556k

Debt ≤ 1 year

€457k▲

2023 · €398k

Debt > 1 year

€436k▲

2023 · €128k

Income taxes

€2k▲

2023 · €164

Staff costs

€283k▲

2023 · €175k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€665k€747k▲

Fixed assets21/28€3k€3k=

Tangible fixed assets22/27€0-

Furniture and vehicles24€0-

Financial fixed assets28€3k€3k=

Current assets29/58€662k€744k▲

Amounts receivable after more than one year29€439k€465k▲

Trade receivables290€439k€465k▲

Stocks and contracts in progress3€108k€115k▲

Stocks30/36€108k€115k▲

Amounts receivable within one year40/41€111k€157k▲

Trade receivables40€69k€136k▲

Other amounts receivable41€43k€21k▼

Cash at bank and in hand54/58€4k€822▼

Deferred charges and accrued income490/1€645€7k▲

Equity and liabilities

Total equity and liabilities10/49€665k€747k▲

Equity10/15€109k€-237k▼

Contributions10/11€62k€62k=

Outside capital11€62k€62k=

Other1109/19€62k€62k=

Reserves13€226k€226k=

Non-distributable reserves130/1€25k€25k=

Legal reserve130-€25k

Reserves not available under the articles1311€25k€0▼

Tax-exempt reserves132€13k€13k=

Distributable reserves133€188k€188k=

Profit (loss) carried forward14€-178k€-525k▼

Amounts payable17/49€556k€984k▲

Amounts payable after more than one year17€128k€436k▲

Financial debts170/4€128k€436k▲

Amounts payable within one year42/48€398k€457k▲

Current portion of amounts payable after more than one year42€61k€61k=

Financial debts43€9k€1k▼

Credit institutions430/8€9k€1k▼

Trade debts44€270k€320k▲

Suppliers440/4€270k€320k▲

Taxes, remuneration and social security45€53k€67k▲

Taxes450/3€45k€45k▼

Remuneration and social security454/9€7k€22k▲

Other amounts payable47/48€5k€7k▲

Accrued charges and deferred income492/3€30k€91k▲

Income statement Code20232024

Non-recurring operating income76A-€0

Remuneration, social security and pensions62€175k€283k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0-

Other operating charges640/8€15k€15k▲

Gross operating margin9900€39k€-42k▼

Operating profit (loss)9901€-151k€-340k▼

Financial income75/76B€29€10▼

Recurring financial income75€29€10▼

Financial charges65/66B€7k€4k▼

Recurring financial charges65€7k€4k▼

Profit (loss) for the period before taxes9903€-158k€-344k▼

Income taxes67/77€164€2k▲

Profit (loss) for the period9904€-158k€-346k▼

Profit (loss) for the period to be appropriated9905€-158k€-346k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-178k€-525k▼

Profit (loss) brought forward from the previous period14P€-20k€-178k▼

The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 17Signals 3Financial 4Filings 10

2026

09-04

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Hasselt · TWIN ARC NV EUROPARK 27, 3620 LANAKEN · event 02-04-2026

2025

18-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 18 days late

29-01

Judicial reorganisation Plan homologation

Ondernemingsrechtbank Antwerpen · 20240030 · event 24-01-2025

2024

31-12

Financial Weakest financial yearnet €-346k

Net result drops to €-346k, the lowest in the series.

06-11

Judicial reorganisation Opening

Ondernemingsrechtbank Antwerpen · collectif · event 25-10-2024

28-09

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 59 days late

2023

23-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

04-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Highest result since 2018net €79k ▲1803%

Operating result €115k, net result €79k, both a record.

31-12

Financial Liquidity doublescurrent ratio 5.29

Current ratio from 2.45 to 5.29; short-term debt falls from €759k to €287k.

30-08

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 30 days late

2020

31-12

Financial Back to profitnet €4k

Net result €4k after 2 loss-making years.

24-07

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

04-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 29 days late

2017

28-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 28 days late

2016

28-08

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema · 28 days late

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

12 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

Registered office, Lanaken · 1 establishment unit since 2003

establishment The establishment unit on the map

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.

Europark 273620 Lanaken

Ground area

6,143 m²

Building footprint

2,244 m²

Volume, LiDAR

15,609 m³

Parcel 73042C0251/00A000, Flanders · tallest building 8.7 m, ±3 floors. Linked by address, not a title deed.

1 establishment unit

Europark 27 2, 3620 Lanaken

Manufacture of machinery and equipment not elsewhere classified

since 20032.131.927.960

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
73042C0251/00A000	Flanders	6,143 m²	1 · 2,244 m²	8.7 m · 3 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

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

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

Insolvency mandates

2 mandates

Role	Name	Tenure
Curator	MARK HUYGEN RIEMSTERWEG 7A BUS 2, 3740 BILZEN-HOESELT	02-04-2026 → present
Curator	MARTINE CLAESEN RIEMSTERWEG 7A BUS 2, 3740 BILZEN-HOESELT-	02-04-2026 → present