TWO MINDS
InactiveTWO MINDS was declared bankrupt on 18-07-2023 (Tribunal de l’entreprise du Hainaut, division Mons); the bankruptcy was closed for insufficient assets by judgment of 17-02-2025, published in the Belgian State Gazette on 24-02-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
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 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 28-10-2022, 89 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
not filed
2021
89 d late
2020
31 d late
2019
20 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 47 days after 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
Financials · fiscal year 2021, micro schema
Equity
-€79,238▼ 51.1%
2020 · -€52,431
Total assets
€81,253▼ 6.4%
2020 · €86,854
Net result
-€26,807▲ 44.9%
2020 · -€48,622
Working capital
-€107,988▼ 38.2%
2020 · -€78,147
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-€15,570-€1,992-€47,020-€24,851▲ 47.1%
Net result-€19,752-€403-€48,622-€26,807▲ 44.9%
Equity-€4,212--€3,809▲ 9.6%-€52,431▼ 1,277%-€79,238▼ 51.1%
Total assets€85,621-€85,274▼ 0.4%€86,854▲ 1.9%€81,253▼ 6.4%
Debt€89,833-€89,083▼ 0.8%€139,285▲ 56.4%€160,491▲ 15.2%
Working capital-€13,841--€19,192▼ 38.7%-€78,147▼ 307%-€107,988▼ 38.2%
Staff (FTE)1.2-1.3▲ 8.3%1.8▲ 38.5%3▲ 66.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €24,851 in 2021 against €47,020 in 2020; the loss shrinks.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €81,253
Fixed assets
€35,805 ▼ 13.7%
Current assets
€45,448 ▲ 0.2%
Key figures and ratios
EBITDA
-€13,839▲
2020 · -€36,661
Cash flow
-€15,795▲
2020 · -€38,263
Solvency
-97.5%▼
2020 · -60.4%
Current ratio
0.30▼
2020 · 0.37
Quick ratio
0.23▼
2020 · 0.27
Debt to equity
-2.03▼
2020 · -0.30
ROA
-33.0%▲
2020 · -56.0%
Interest coverage
-6.84
Debt ≤ 1 year
€153,436▲
2020 · €123,502
Debt > 1 year
€7,055▼
2020 · €15,783
Staff costs
€44,044
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 |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €44,044 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,937 | €8,814 | €10,359 | €11,012 | ▲ 6.3% |
| Other operating charges640/8 | - | - | - | €790 | - |
| Gross operating margin9900 | €53,127 | €69,782 | €13,670 | €30,995 | ▲ 127% |
| Operating profit (loss)9901 | -€15,570 | €1,992 | -€47,020 | -€24,851 | ▲ 47.1% |
| Financial income75/76B | - | - | - | €68 | - |
| Recurring financial income75 | €25 | €138 | €40 | €68 | ▲ 70.0% |
| Financial charges65/66B | - | - | - | €2,024 | - |
| Recurring financial charges65 | €4,207 | €1,727 | €1,642 | €2,024 | ▲ 23.3% |
| Profit (loss) for the period before taxes9903 | -€19,752 | €403 | -€48,622 | -€26,807 | ▲ 44.9% |
| Profit (loss) for the period9904 | -€19,752 | €403 | -€48,622 | -€26,807 | ▲ 44.9% |
| Profit (loss) for the period to be appropriated9905 | -€19,752 | €403 | -€48,622 | -€26,807 | ▲ 44.9% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €85,621 | €85,274 | €86,854 | €81,253 | ▼ 6.4% |
| Fixed assets21/28 | €26,570 | €26,326 | €41,499 | €35,805 | ▼ 13.7% |
| Tangible fixed assets22/27 | €23,145 | €20,101 | €35,274 | €29,580 | ▼ 16.1% |
| Plant, machinery and equipment23 | - | - | - | €3,272 | - |
| Furniture and vehicles24 | - | - | - | €4,412 | - |
| Other tangible fixed assets26 | - | - | - | €21,896 | - |
| Financial fixed assets28 | €3,425 | €6,225 | €6,225 | €6,225 | = |
| Current assets29/58 | €59,051 | €58,948 | €45,355 | €45,448 | ▲ 0.2% |
| Stocks and contracts in progress3 | €10,809 | €8,398 | €12,027 | €9,886 | ▼ 17.8% |
| Stocks30/36 | - | - | - | €9,886 | - |
| Amounts receivable within one year40/41 | €38,335 | €44,419 | €21,359 | €19,442 | ▼ 9.0% |
| Trade receivables40 | - | - | - | €14,379 | - |
| Other amounts receivable41 | - | - | - | €5,063 | - |
| Cash at bank and in hand54/58 | €9,907 | €4,731 | €10,507 | €16,058 | ▲ 52.8% |
| Deferred charges and accrued income490/1 | - | - | - | €62 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €85,621 | €85,274 | €86,854 | €81,253 | ▼ 6.4% |
| Equity10/15 | -€4,212 | -€3,809 | -€52,431 | -€79,238 | ▼ 51.1% |
| Contributions10/11 | €18,600 | - | - | €18,600 | - |
| Reserves13 | €13,510 | €13,510 | €13,510 | €13,510 | = |
| Non-distributable reserves130/1 | - | - | - | €1,337 | - |
| Reserves not available under the articles1311 | - | - | - | €1,337 | - |
| Distributable reserves133 | - | - | - | €12,173 | - |
| Profit (loss) carried forward14 | -€36,322 | -€35,919 | -€84,541 | -€111,348 | ▼ 31.7% |
| Amounts payable17/49 | €89,833 | €89,083 | €139,285 | €160,491 | ▲ 15.2% |
| Amounts payable after more than one year17 | €16,941 | €10,943 | €15,783 | €7,055 | ▼ 55.3% |
| Financial debts170/4 | - | - | - | €7,055 | - |
| Amounts payable within one year42/48 | €72,892 | €78,140 | €123,502 | €153,436 | ▲ 24.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,728 | - |
| Financial debts43 | - | - | - | €4,356 | - |
| Credit institutions430/8 | - | - | - | €4,356 | - |
| Trade debts44 | €20,524 | €21,075 | €52,165 | €44,180 | ▼ 15.3% |
| Suppliers440/4 | - | - | - | €44,180 | - |
| Taxes, remuneration and social security45 | - | - | - | €44,147 | - |
| Taxes450/3 | - | - | - | €6 | - |
| Remuneration and social security454/9 | - | - | - | €44,141 | - |
| Other amounts payable47/48 | - | - | - | €52,025 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,752 | €403 | -€48,622 | -€26,807 | ▲ 44.9% |
| + Depreciation and write-downs630 | €8,937 | €8,814 | €10,359 | €11,012 | ▲ 6.3% |
| Operating cash flow (approximation) | -€10,815 | €9,217 | -€38,263 | -€15,795 | ▲ 58.7% |
| Investment in fixed assets (approximation) | - | -€8,570 | -€25,532 | -€5,318 | ▲ 79.2% |
| Change in cash | - | -€5,176 | €5,776 | €5,551 | ▼ 3.9% |
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
24-02
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise du Hainaut, division Mons · event 17-02-2025
2023
25-07
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Mons · event 18-07-2023
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 89 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet -€48,622
Net result drops to -€48,622, the lowest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
31-12
Financial
Back to profitnet €403
Net result €403 after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
06-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
28-07
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
30-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
2013
28-06
NBB filing
Annual accounts filed
fiscal year 2012 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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 | ANNE DETRAIT RUE OMER LEFEVRE 36, 7100 LA
LOUVIERE- .
Date provisoire de cessation de paiement : 18/07/2023 |
18-07-2023 → 17-02-2025 |