VISUALART.BE
Open bankruptcyA bankruptcy procedure is open for VISUALART.BE according to publications in the Belgian State Gazette; curator: KOEN VANDER STUYFT.
Summary
The 2022 annual accounts show equity of €51,698 and a net result of -€16,416.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Ghent division
- Declared bankrupt
- 28 April 2026
- Supervising judge
- Patrick Dumortier
- Official Gazette
- 05-05-2026 (pdf) ↗search the document for 2026/119460
Curator
- Koen Vander StuyftKerkkouter 14, 9700 Oudenaardekoen@advocaatvanderstuyft.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
Deadlines: the judgment sets the last day to file your claim, by law at most thirty days after the judgment, and the day of the first verification report. Both dates are in the publication in the Official Gazette and in RegSol; Checked does not read them yet. A late claim is sometimes still possible, but not without consequences.
File a claim in RegSol ↗
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Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help. Full guide for creditors
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Signals
Two signals.
+raises risk
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Address check Are there other customers at risk in your own list?Debtor check
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, micro schema
Equity
€51,698▼ 24.1%
2021 · €68,113
Total assets
€375,073▼ 8.3%
2021 · €409,197
Net result
-€16,416
2021 · €13,486
Working capital
-€9,476
2021 · €2,838
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
Line202020212022
Operating result€55,632-€15,210▼ 72.7%-€16,126
Net result€37,981-€13,486▼ 64.5%-€16,416
Equity€54,627-€68,113▲ 24.7%€51,698▼ 24.1%
Total assets€418,353-€409,197▼ 2.2%€375,073▼ 8.3%
Debt€363,725-€341,084▼ 6.2%€323,376▼ 5.2%
Working capital-€1,056-€2,838-€9,476
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 2022: a loss of €16,126 after €15,210 in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €375,073
Fixed assets
€251,568 ▼ 6.2%
Current assets
€123,506 ▼ 12.3%
Equity and liabilities €375,073
Equity
€51,698 ▼ 24.1%
Debt
€323,376 ▼ 5.2%
Debt's share of the balance-sheet total rises from 83.4% to 86.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€3,956▼
2021 · €36,519
Cash flow
€3,667▼
2021 · €34,796
Current ratio
0.93▼
2021 · 1.02
Debt to equity
6.26▲
2021 · 5.01
ROE
-31.8%▼
2021 · 19.8%
ROA
-4.4%▼
2021 · 3.3%
Interest coverage
0.55▼
2021 · 4.77
Debt ≤ 1 year
€132,982▼
2021 · €138,051
Debt > 1 year
€190,394▼
2021 · €203,032
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | €405 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,488 | €21,310 | €20,082 | ▼ 5.8% |
| Other operating charges640/8 | €1,965 | €2,165 | €1,842 | ▼ 14.9% |
| Gross operating margin9900 | €78,085 | €38,684 | €5,797 | ▼ 85.0% |
| Operating profit (loss)9901 | €55,632 | €15,210 | -€16,126 | ▼ 206% |
| Financial income75/76B | €6,127 | €5,926 | €6,881 | ▲ 16.1% |
| Recurring financial income75 | €6,127 | €5,926 | €6,881 | ▲ 16.1% |
| Financial charges65/66B | €7,766 | €7,650 | €7,171 | ▼ 6.3% |
| Recurring financial charges65 | €7,766 | €7,650 | €7,171 | ▼ 6.3% |
| Profit (loss) for the period before taxes9903 | €53,994 | €13,486 | -€16,416 | ▼ 222% |
| Income taxes67/77 | €16,013 | €0 | - | - |
| Profit (loss) for the period9904 | €37,981 | €13,486 | -€16,416 | ▼ 222% |
| Profit (loss) for the period to be appropriated9905 | €37,981 | €13,486 | -€16,416 | ▼ 222% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €418,353 | €409,197 | €375,073 | ▼ 8.3% |
| Fixed assets21/28 | €270,975 | €268,307 | €251,568 | ▼ 6.2% |
| Tangible fixed assets22/27 | €270,975 | €268,307 | €251,568 | ▼ 6.2% |
| Land and buildings22 | €242,527 | €235,896 | €229,265 | ▼ 2.8% |
| Plant, machinery and equipment23 | €14,181 | €23,731 | €17,864 | ▼ 24.7% |
| Furniture and vehicles24 | €14,267 | €8,680 | €4,439 | ▼ 48.9% |
| Current assets29/58 | €147,377 | €140,890 | €123,506 | ▼ 12.3% |
| Amounts receivable within one year40/41 | €136,381 | €134,964 | €116,658 | ▼ 13.6% |
| Trade receivables40 | €51,109 | €43,875 | €18,802 | ▼ 57.1% |
| Other amounts receivable41 | €85,272 | €91,089 | €97,856 | ▲ 7.4% |
| Cash at bank and in hand54/58 | €4,955 | €0 | - | - |
| Deferred charges and accrued income490/1 | €6,042 | €5,926 | €6,847 | ▲ 15.5% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €418,353 | €409,197 | €375,073 | ▼ 8.3% |
| Equity10/15 | €54,627 | €68,113 | €51,698 | ▼ 24.1% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | = |
| Profit (loss) carried forward14 | €42,227 | €55,713 | €39,298 | ▼ 29.5% |
| Amounts payable17/49 | €363,725 | €341,084 | €323,376 | ▼ 5.2% |
| Amounts payable after more than one year17 | €215,292 | €203,032 | €190,394 | ▼ 6.2% |
| Financial debts170/4 | €215,292 | €203,032 | €190,394 | ▼ 6.2% |
| Amounts payable within one year42/48 | €148,433 | €138,051 | €132,982 | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | €11,893 | €12,260 | €12,638 | ▲ 3.1% |
| Financial debts43 | €0 | €8,914 | €680 | ▼ 92.4% |
| Credit institutions430/8 | €0 | €8,914 | €680 | ▼ 92.4% |
| Trade debts44 | €56,540 | €30,036 | €24,561 | ▼ 18.2% |
| Suppliers440/4 | €56,540 | €30,036 | €24,561 | ▼ 18.2% |
| Taxes, remuneration and social security45 | €79,999 | €86,841 | €95,103 | ▲ 9.5% |
| Taxes450/3 | €79,999 | €86,841 | €95,103 | ▲ 9.5% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,981 | €13,486 | -€16,416 | ▼ 222% |
| + Depreciation and write-downs630 | €20,488 | €21,310 | €20,082 | ▼ 5.8% |
| Operating cash flow (approximation) | €58,470 | €34,796 | €3,667 | ▼ 89.5% |
| Investment in fixed assets (approximation) | - | -€18,642 | -€3,343 | ▲ 82.1% |
| Change in cash | - | -€4,955 | - | - |
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
2026
05-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 28-04-2026
2024
12-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 165 days late
12-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 530 days late
12-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 895 days late
2022
31-12
Financial
Weakest financial yearnet -€16,416
Net result drops to -€16,416, the lowest in the series.
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 92 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Merelbeke-Melle · 1 establishment unit since 2015
Ground area
305 m²
Building footprint
121 m²
Volume, LiDAR
735 m³
Parcel 44043A0656/02V004, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Visualart.be
since 20152.243.253.177
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44043A0656/02V004 | Flanders | 305 m² | 1 · 121 m² | 10.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | KOEN VANDER STUYFT KERKKOUTER 14,
9700 OUDENAARDE |
28-04-2026 → present |
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-07-2015
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.