VAWE
InactiveVAWE was declared bankrupt on 03-01-2023 (Ondernemingsrechtbank Antwerpen, afdeling Turnhout); the bankruptcy was closed for insufficient assets by judgment of 02-05-2023, published in the Belgian State Gazette on 08-05-2023.
No longer registered with the KBO; last annual accounts for fiscal year 2019.
Signals
Four signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2019. Since then, 6 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 4 filingsPosition against the passed deadline
31-12-2020 close31-07-2021 deadline22-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2019 was due by 31-07-2020 and was filed on 25-09-2020, 56 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
56 d late
← before the deadline
after the deadline →
Financials · fiscal year 2019, micro schema
Turnover
€99k▼ 23.9%
2018 · €131k
2018: €131k
2018 → 2019
EBIT margin
-6.0%▼ 12.7pp
2018 · 6.6%
2018: 6.6%
2018 → 2019
Net result
€-6k
2018 · €8k
2018: €8k
2018 → 2019
Working capital
€9k▲ 12.5%
2018 · €8k
2018: €8k
2018 → 2019
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019Trend
Turnover€131k-€99k▼ 23.9%
Equity€18k-€18k=
Operating result€9k-€-6k
Net result€8k-€-6k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2019: a loss of €6k after €9k in 2018.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €24k
Fixed assets
€11k▼ 28.8%
Current assets
€13k▼ 41.9%
Equity and liabilities €24k
Equity
€18k=
Debt
€6k▼ 69.3%
The debt ratio falls from 52.5% to 25.3%. Debt is lower.
Key figures and ratios
EBITDA
€-1k▼
2018 · €13k
Cash flow
€-2k▼
2018 · €13k
Solvency
74.7%▲
2018 · 47.5%
Current ratio
3.21▲
2018 · 1.55
Quick ratio
3.21▲
2018 · 1.55
Debt / equity
0.12▼
2018 · 0.32
ROE
-34.4%▼
2018 · 45.4%
ROA
-25.7%▼
2018 · 21.6%
Debt
€6k▼
2018 · €20k
Debt ≤ 1 year
€4k▼
2018 · €14k
Debt > 1 year
€2k▼
2018 · €6k
Income taxes
€0=
2018 · €0
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 · 2019 against 2018
Balance sheet
Code20182019
Assets
Total assets20/58€38k€24k▼
Formation expenses20€0€0=
Fixed assets21/28€16k€11k▼
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€16k€11k▼
Financial fixed assets28€0€0=
Current assets29/58€22k€13k▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€593€5k▲
Current investments50/53€0€0=
Cash at bank and in hand54/58€21k€5k▼
Equity and liabilities
Total equity and liabilities10/49€38k€24k▼
Equity10/15€18k€18k=
Contributions10/11€12k€19k▲
Reserves13€6k€6k=
Profit (loss) carried forward14€-10k€-6k▲
Amounts payable17/49€20k€6k▼
Amounts payable after more than one year17€6k€2k▼
Amounts payable within one year42/48€14k€4k▼
Trade debts44€459€233▼
Income statement
Code20182019
Turnover70€131k€99k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€5k=
Gross operating margin9900€14k€-618▼
Operating profit (loss)9901€9k€-6k▼
Recurring financial income75€149€2▼
Recurring financial charges65€624€203▼
Profit (loss) for the period before taxes9903€8k€-6k▼
Income taxes67/77€0€0=
Profit (loss) for the period9904€8k€-6k▼
Profit (loss) for the period to be appropriated9905€8k€-6k▼
Appropriation of the result
Return on contributions (dividend)694€0€0=
Timeline · acts, filings and financial milestones
2023
08-05
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · LOGITEC BV PAS 162, 2440 GEEL · event 02-05-2023
09-01
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · LOGITEC BV PAS 162, 2440 GEEL · event 03-01-2023
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 3.21
Current ratio from 1.55 to 3.21; short-term debt falls from €14k to €4k.
15-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
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.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | NOEL DEVOS DIESTSEWEG 155, 2440 GEEL- |
03-01-2023 → present |
| Curator | BRAM VANGEEL DIESTSEWEG 155,
2440 GEEL |
03-01-2023 → present |