VAN SELS
InactiveVAN SELS was declared bankrupt on 09-12-2021 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed for insufficient assets by judgment of 21-03-2023, published in the Belgian State Gazette on 28-03-2023.
Summary
Inactive; last annual accounts for fiscal year 2011.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2011. Since then, 14 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 5 filingsPosition against the passed deadline
31-12-2012 close31-07-2013 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2011 was due by 31-07-2012 and was filed on 22-08-2012, 22 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filings
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 2011, abbreviated schema
Equity
€4,228▼ 67.7%
2010 · €13,094
Total assets
€71,118▼ 22.5%
2010 · €91,709
Net result
-€8,867
2010 · €5,103
Working capital
-€21,632▼ 420%
2010 · -€4,158
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
Line20072008200920102011
Operating result€6,170--€3,214-€17,337▼ 439%€16,384-€839
Net result€3,874--€6,214-€28,462▼ 358%€5,103-€8,867
Equity€4,874--€1,340-€27,802▼ 1,974%€13,094€4,228▼ 67.7%
Total assets€89,669-€128,480▲ 43.3%€86,799▼ 32.4%€91,709▲ 5.7%€71,118▼ 22.5%
Debt€84,795-€129,820▲ 53.1%€114,601▼ 11.7%€78,615▼ 31.4%€66,890▼ 14.9%
Working capital€22,275-€16,661▼ 25.2%€5,955▼ 64.3%-€4,158-€21,632▼ 420%
Staff (FTE)0.6-0.9▲ 50.0%1.1▲ 22.2%1.3▲ 18.2%1.8▲ 38.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2011: a loss of €839 after €16,384 in 2010.
Balance-sheet composition
2011 in colour, 2010 as the grey bar beneath
Assets €71,118
Fixed assets
€48,763 ▼ 14.7%
Current assets
€22,355 ▼ 35.3%
Equity and liabilities €71,118
Equity
€4,228 ▼ 67.7%
Debt
€66,890 ▼ 14.9%
Debt's share of the balance-sheet total rises from 85.7% to 94.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€12,563▼
2010 · €32,963
Cash flow
€4,535▼
2010 · €21,682
Current ratio
0.51▼
2010 · 0.89
Quick ratio
0.43▼
2010 · 0.87
Debt to equity
5.42▲
2010 · 3.05
ROE
-209.7%▼
2010 · 39.0%
ROA
-12.5%▼
2010 · 5.6%
Debt ≤ 1 year
€43,987▲
2010 · €38,694
Debt > 1 year
€22,903▼
2010 · €39,922
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2007 | 2008 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,776 | €25,348 | €16,578 | €16,578 | €13,402 | ▼ 19.2% |
| Gross operating margin9900 | €26,475 | €50,215 | €36,810 | €67,154 | €56,338 | ▼ 16.1% |
| Operating profit (loss)9901 | €6,170 | -€3,214 | -€17,337 | €16,384 | -€839 | ▼ 105% |
| Recurring financial income75 | €0 | €12 | €178 | €10 | €30 | ▲ 214% |
| Recurring financial charges65 | €853 | €4,766 | €5,423 | €5,453 | €2,013 | ▼ 63.1% |
| Profit (loss) for the period before taxes9903 | €5,487 | -€6,214 | -€28,095 | €5,103 | -€8,867 | ▼ 274% |
| Income taxes67/77 | €1,613 | - | €366 | - | - | - |
| Profit (loss) for the period9904 | €3,874 | -€6,214 | -€28,462 | €5,103 | -€8,867 | ▼ 274% |
| Profit (loss) for the period to be appropriated9905 | €3,874 | -€6,214 | -€28,462 | €5,103 | -€8,867 | ▼ 274% |
| Line | 2007 | 2008 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €89,669 | €128,480 | €86,799 | €91,709 | €71,118 | ▼ 22.5% |
| Fixed assets21/28 | €51,193 | €79,564 | €37,959 | €57,174 | €48,763 | ▼ 14.7% |
| Intangible fixed assets21 | - | - | €10,000 | €6,000 | €2,000 | ▼ 66.7% |
| Tangible fixed assets22/27 | €51,193 | €79,064 | €27,459 | €50,674 | €46,263 | ▼ 8.7% |
| Financial fixed assets28 | - | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €38,476 | €48,916 | €48,840 | €34,536 | €22,355 | ▼ 35.3% |
| Stocks and contracts in progress3 | €1,920 | €1,855 | €1,121 | €864 | €3,601 | ▲ 317% |
| Amounts receivable within one year40/41 | €2,172 | €14,469 | €13,114 | €19,430 | €11,549 | ▼ 40.6% |
| Cash at bank and in hand54/58 | €23,418 | €16,747 | €4,067 | €10,193 | €4,753 | ▼ 53.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €89,669 | €128,480 | €86,799 | €91,709 | €71,118 | ▼ 22.5% |
| Equity10/15 | €4,874 | -€1,340 | -€27,802 | €13,094 | €4,228 | ▼ 67.7% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €3,874 | €3,874 | €3,874 | €3,874 | €3,874 | = |
| Profit (loss) carried forward14 | - | -€6,214 | -€32,676 | -€27,572 | -€36,439 | ▼ 32.2% |
| Amounts payable17/49 | €84,795 | €129,820 | €114,601 | €78,615 | €66,890 | ▼ 14.9% |
| Amounts payable after more than one year17 | €68,594 | €97,565 | €71,716 | €39,922 | €22,903 | ▼ 42.6% |
| Amounts payable within one year42/48 | €16,201 | €32,255 | €42,885 | €38,694 | €43,987 | ▲ 13.7% |
| Trade debts44 | €2,912 | €4,029 | €11,638 | €20,997 | €21,920 | ▲ 4.4% |
| Line | 2007 | 2008 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,874 | -€6,214 | -€28,462 | €5,103 | -€8,867 | ▼ 274% |
| + Depreciation and write-downs630 | €11,776 | €25,348 | €16,578 | €16,578 | €13,402 | ▼ 19.2% |
| Operating cash flow (approximation) | €15,649 | €19,134 | -€11,883 | €21,682 | €4,535 | ▼ 79.1% |
| Investment in fixed assets (approximation) | - | -€53,719 | €25,026 | -€35,793 | -€4,991 | ▲ 86.1% |
| Change in cash | - | -€6,671 | -€12,680 | €6,126 | -€5,440 | ▼ 189% |
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
2023
28-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 21-03-2023
2021
16-12
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 09-12-2021
2012
22-08
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema · 22 days late
2011
30-08
NBB filing
Annual accounts filed
fiscal year 2010 · abbreviated schema · 30 days late
2010
31-12
Financial
Back to profitnet €5,103
Net result €5,103 after 2 loss-making years.
04-06
NBB filing
Annual accounts filed
fiscal year 2009 · abbreviated schema
2009
31-12
Financial
Weakest financial yearnet -€28,462
Net result drops to -€28,462, the lowest in the series.
16-06
NBB filing
Annual accounts filed
fiscal year 2008 · abbreviated schema
2008
05-06
NBB filing
Annual accounts filed
fiscal year 2007 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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 | MARC KIPS PALEISSTRAAT 24, 2018 ANTWERPEN 1- |
09-12-2021 → 21-03-2023 |