WARCAVE
InactiveWARCAVE was declared bankrupt on 15-03-2022 (Ondernemingsrechtbank Antwerpen, afdeling Turnhout); the bankruptcy was closed by liquidation by judgment of 20-06-2023, published in the Belgian State Gazette on 27-06-2023.
Summary
Inactive; last annual accounts for fiscal year 2020.
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 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 3 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 25-06-2021, 36 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
36 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 36 days before 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 2020, micro schema
Equity
€56,296▲ 9.3%
2019 · €51,495
Total assets
€211,880▲ 33.0%
2019 · €159,342
Net result
€4,801▼ 23.7%
2019 · €6,293
Working capital
€74,110▲ 155%
2019 · €29,088
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
Line201820192020
Operating result€39,256-€14,010▼ 64.3%€16,144▲ 15.2%
Net result€26,652-€6,293▼ 76.4%€4,801▼ 23.7%
Equity€45,202-€51,495▲ 13.9%€56,296▲ 9.3%
Total assets€124,501-€159,342▲ 28.0%€211,880▲ 33.0%
Debt€79,299-€107,847▲ 36.0%€155,585▲ 44.3%
Working capital€36,789-€29,088▼ 20.9%€74,110▲ 155%
Staff (FTE)4.2-10▲ 138%11.5▲ 15.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2020; 2020 is 15% above 2019.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €211,880
Fixed assets
€32,450 ▼ 10.7%
Current assets
€179,430 ▲ 45.9%
Equity and liabilities €211,880
Equity
€56,296 ▲ 9.3%
Debt
€155,585 ▲ 44.3%
Debt's share of the balance-sheet total rises from 67.7% to 73.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26,998▲
2019 · €24,459
Cash flow
€15,655▼
2019 · €16,741
Current ratio
1.70▲
2019 · 1.31
Quick ratio
1.07▲
2019 · 1.05
Debt to equity
0.89▲
2019 · 0.26
ROE
8.5%▼
2019 · 12.2%
ROA
2.3%▼
2019 · 3.9%
Debt ≤ 1 year
€105,320▲
2019 · €93,896
Debt > 1 year
€49,833▲
2019 · €13,520
Income taxes
€6,192▲
2019 · €4,441
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,766 | €10,449 | €10,854 | ▲ 3.9% |
| Gross operating margin9900 | €173,732 | €351,182 | €432,023 | ▲ 23.0% |
| Operating profit (loss)9901 | €39,256 | €14,010 | €16,144 | ▲ 15.2% |
| Recurring financial income75 | €30 | €177 | €458 | ▲ 158% |
| Recurring financial charges65 | €1,052 | €3,453 | €5,609 | ▲ 62.4% |
| Profit (loss) for the period before taxes9903 | €38,233 | €10,734 | €10,993 | ▲ 2.4% |
| Income taxes67/77 | €11,581 | €4,441 | €6,192 | ▲ 39.4% |
| Profit (loss) for the period9904 | €26,652 | €6,293 | €4,801 | ▼ 23.7% |
| Profit (loss) for the period to be appropriated9905 | €26,652 | €6,293 | €4,801 | ▼ 23.7% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €124,501 | €159,342 | €211,880 | ▲ 33.0% |
| Fixed assets21/28 | €27,291 | €36,358 | €32,450 | ▼ 10.7% |
| Tangible fixed assets22/27 | €27,291 | €31,014 | €25,914 | ▼ 16.4% |
| Financial fixed assets28 | - | €5,343 | €6,536 | ▲ 22.3% |
| Current assets29/58 | €97,210 | €122,984 | €179,430 | ▲ 45.9% |
| Stocks and contracts in progress3 | - | €24,430 | €66,254 | ▲ 171% |
| Amounts receivable within one year40/41 | €44,021 | €70,434 | €81,810 | ▲ 16.2% |
| Cash at bank and in hand54/58 | €53,034 | €24,896 | €29,202 | ▲ 17.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €124,501 | €159,342 | €211,880 | ▲ 33.0% |
| Equity10/15 | €45,202 | €51,495 | €56,296 | ▲ 9.3% |
| Contributions10/11 | €18,550 | €18,550 | - | - |
| Reserves13 | €26,652 | €32,945 | €37,746 | ▲ 14.6% |
| Amounts payable17/49 | €79,299 | €107,847 | €155,585 | ▲ 44.3% |
| Amounts payable after more than one year17 | €18,447 | €13,520 | €49,833 | ▲ 269% |
| Amounts payable within one year42/48 | €60,420 | €93,896 | €105,320 | ▲ 12.2% |
| Trade debts44 | €11,939 | €24,053 | €25,358 | ▲ 5.4% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,652 | €6,293 | €4,801 | ▼ 23.7% |
| + Depreciation and write-downs630 | €8,766 | €10,449 | €10,854 | ▲ 3.9% |
| Operating cash flow (approximation) | €35,418 | €16,741 | €15,655 | ▼ 6.5% |
| Investment in fixed assets (approximation) | - | -€19,515 | -€6,947 | ▲ 64.4% |
| Change in cash | - | -€28,137 | €4,306 | ▲ 115% |
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
27-06
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · event 20-06-2023
2022
24-03
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · event 15-03-2022
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €4,801 ▼23.7%
Net result drops to €4,801, the lowest in the series.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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 | SENNE DRAULANS VEERLESEWEG 2 BUS 1, 2440 GEEL- |
15-03-2022 → 20-06-2023 |
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | -25,000 EUR | 0 EUR |
| 2022 | 1 | 25,000 EUR | 0 EUR |