TWINKLE STAR
InactiveTWINKLE STAR was declared bankrupt on 03-12-2024 (Ondernemingsrechtbank Gent, afdeling Gent); the bankruptcy was closed for insufficient assets by judgment of 18-11-2025, published in the Belgian State Gazette on 21-11-2025.
Summary
Inactive; last annual accounts for fiscal year 2022.
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 31-12-2023, 3 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
31-12-2023 close31-07-2024 deadline24-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 06-10-2023, 67 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 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
67 d late
2021
112 d late
2020
473 d late
2019
62 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Turnover
€731k▲ 23.3%
2021 · €593k
2020: €582k
2021: €593k
2020 → 2022
EBIT margin
2.0%▲ 2.3pp
2021 · -0.3%
2020: 3.3%
2021: -0.3%
2020 → 2022
Net result
€3k
2021 · €-3k
2018: €111
2019: €1k
2020: €14k
2021: €-3k
2018 → 2022
Working capital
€59k▲ 33.7%
2021 · €44k
2018: €22k
2019: €15k
2020: €34k
2021: €44k
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€582k€593k▲ 1.8%€731k▲ 23.3%
Equity€59k-€61k▲ 2.5%€75k▲ 23.4%€72k▼ 4.0%€74k▲ 3.5%
Operating result€5k-€7k▲ 55.7%€19k▲ 162%€-2k€15k
Net result€111-€1k▲ 1,236%€14k▲ 858%€-3k€3k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2022: €15k after a loss of €2k in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €93k
Fixed assets
€16k ▼ 54.4%
Current assets
€78k =
Equity and liabilities €93k
Equity
€74k ▲ 3.5%
Debt
€19k ▼ 53.2%
Debt's share of the balance-sheet total falls from 35.8% to 20.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34k▲
2021 · €22k
Cash flow
€21k▲
2021 · €21k
Current ratio
4.16▲
2021 · 2.31
Quick ratio
3.91▲
2021 · 2.17
Debt to equity
0.25▼
2021 · 0.56
ROE
3.4%▲
2021 · -4.1%
ROA
2.7%▲
2021 · -2.6%
Interest coverage
37.87▲
2021 · 21.37
Debt ≤ 1 year
€19k▼
2021 · €34k
Debt > 1 year
€166▼
2021 · €7k
Income taxes
€11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 46 lines
Balance sheet
Code20212022
Assets
Total assets20/58€112k€93k▼
Fixed assets21/28€35k€16k▼
Tangible fixed assets22/27€26k€7k▼
Plant, machinery and equipment23€1k-
Furniture and vehicles24€12k-
Leasing and similar rights25€13k€7k▼
Financial fixed assets28€8k€8k=
Current assets29/58€78k€78k=
Stocks and contracts in progress3€5k€5k=
Stocks30/36€5k€5k=
Amounts receivable within one year40/41€70k€52k▼
Trade receivables40€0€48k▲
Other amounts receivable41€70k€4k▼
Cash at bank and in hand54/58€3k€21k▲
Equity and liabilities
Total equity and liabilities10/49€112k€93k▼
Equity10/15€72k€74k▲
Contributions10/11€19k€19k=
Reserves13€15k€15k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Distributable reserves133€12k€12k=
Profit (loss) carried forward14€38k€41k▲
Amounts payable17/49€40k€19k▼
Amounts payable after more than one year17€7k€166▼
Financial debts170/4€7k€166▼
Amounts payable within one year42/48€34k€19k▼
Current portion of amounts payable after more than one year42€0-
Taxes, remuneration and social security45€5k€19k▲
Taxes450/3€5k€19k▲
Other amounts payable47/48€28k-
Income statement
Code20212022
Turnover70€593k€731k▲
Goods, raw materials, services and sundry goods60/61€570k€693k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€19k▼
Other operating charges640/8€518€4k▲
Gross operating margin9900€23k€38k▲
Operating profit (loss)9901€-2k€15k▲
Financial income75/76B€20-
Recurring financial income75€20-
Financial charges65/66B€1k€886▼
Recurring financial charges65€1k€886▼
Profit (loss) for the period before taxes9903€-3k€14k▲
Income taxes67/77-€11k
Profit (loss) for the period9904€-3k€3k▲
Profit (loss) for the period to be appropriated9905€-3k€3k▲
Appropriation of the result
Profit (loss) to be appropriated9906€38k€41k▲
Profit (loss) brought forward from the previous period14P€41k€38k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
21-11
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Gent · event 18-11-2025
2024
09-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 03-12-2024
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
20-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 112 days late
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 473 days late
2021
31-12
Financial
Weakest financial yearnet €-3k
Net result drops to €-3k, the lowest in the series.
2020
31-12
Financial
Highest result since 2018net €14k ▲858%
Operating result €19k, net result €14k, both a record.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 62 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Show earlier events
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
2015
24-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 24 days late
2014
08-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 39 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BOB CAMMAERT TONDELIERLAAN 15 BUS 701,
9000 GENT |
03-12-2024 → 18-11-2025 |