WASHCOT
Open bankruptcyA bankruptcy procedure is open for WASHCOT according to publications in the Belgian State Gazette; curator: NATHALIE BEERNAERT.
Summary
Inactive; last annual accounts for fiscal year 2020.
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, Kortrijk division
- Declared bankrupt
- 6 December 2022
- Supervising judge
- Johan Veys
- Official Gazette
- 12-12-2022 (pdf) ↗search the document for 2022/145783
Curator
- Nathalie BeernaertDammestraat-West 6, 8800 Roeselarenathalie.beernaert@advocaat.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 ↗
Watch
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
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○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 · 6 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 29-10-2021, 90 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
90 d late
2019
49 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 70 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
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 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 2020, micro schema
Equity
-€132,272
2019 · €51,487
Total assets
€518,611▲ 0.1%
2019 · €518,324
Net result
-€170,272▼ 99.8%
2019 · -€85,224
Working capital
-€234,456
2019 · €59,406
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-€37,917--€87,427▼ 131%-€163,064▼ 86.5%
Net result-€32,380--€85,224▼ 163%-€170,272▼ 99.8%
Equity€75,282-€51,487▼ 31.6%-€132,272
Total assets€151,986-€518,324▲ 241%€518,611▲ 0.1%
Debt€76,704-€466,837▲ 509%€650,883▲ 39.4%
Working capital-€17,224-€59,406-€234,456
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 €163,064 in 2020 against €87,427 in 2019; the loss grows and 2020 has the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €518,611
Fixed assets
€416,756 ▲ 35.1%
Current assets
€101,855 ▼ 51.5%
Key figures and ratios
EBITDA
-€95,936▼
2019 · -€44,566
Cash flow
-€103,145▼
2019 · -€42,363
Solvency
-25.5%▼
2019 · 9.9%
Current ratio
0.30▼
2019 · 1.39
Quick ratio
0.26▼
2019 · 1.30
Debt to equity
-2.30▼
2019 · 5.97
ROA
-32.8%▼
2019 · -16.4%
Debt ≤ 1 year
€336,311▲
2019 · €150,476
Debt > 1 year
€304,242▼
2019 · €307,542
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 | €25,936 | €42,861 | €67,127 | ▲ 56.6% |
| Gross operating margin9900 | -€11,165 | -€43,460 | -€93,824 | ▼ 116% |
| Operating profit (loss)9901 | -€37,917 | -€87,427 | -€163,064 | ▼ 86.5% |
| Recurring financial income75 | €6,485 | €13,627 | €13,492 | ▼ 1.0% |
| Recurring financial charges65 | €947 | €11,424 | €20,701 | ▲ 81.2% |
| Profit (loss) for the period before taxes9903 | -€32,380 | -€85,224 | -€170,272 | ▼ 99.8% |
| Profit (loss) for the period9904 | -€32,380 | -€85,224 | -€170,272 | ▼ 99.8% |
| Profit (loss) for the period to be appropriated9905 | -€32,380 | -€85,224 | -€170,272 | ▼ 99.8% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €151,986 | €518,324 | €518,611 | ▲ 0.1% |
| Formation expenses20 | €284 | - | - | - |
| Fixed assets21/28 | €103,330 | €308,442 | €416,756 | ▲ 35.1% |
| Intangible fixed assets21 | €44,861 | €78,893 | €104,363 | ▲ 32.3% |
| Tangible fixed assets22/27 | €57,167 | €225,799 | €308,643 | ▲ 36.7% |
| Financial fixed assets28 | €1,303 | €3,750 | €3,750 | = |
| Current assets29/58 | €48,372 | €209,882 | €101,855 | ▼ 51.5% |
| Stocks and contracts in progress3 | €10,838 | €14,713 | €14,463 | ▼ 1.7% |
| Amounts receivable within one year40/41 | €25,418 | €121,068 | €74,972 | ▼ 38.1% |
| Cash at bank and in hand54/58 | €12,003 | €69,982 | €11,011 | ▼ 84.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €151,986 | €518,324 | €518,611 | ▲ 0.1% |
| Equity10/15 | €75,282 | €51,487 | -€132,272 | ▼ 357% |
| Contributions10/11 | €190,000 | €190,000 | - | - |
| Profit (loss) carried forward14 | -€168,718 | -€253,942 | -€424,214 | ▼ 67.1% |
| Amounts payable17/49 | €76,704 | €466,837 | €650,883 | ▲ 39.4% |
| Amounts payable after more than one year17 | €11,108 | €307,542 | €304,242 | ▼ 1.1% |
| Amounts payable within one year42/48 | €65,596 | €150,476 | €336,311 | ▲ 123% |
| Trade debts44 | €28,188 | €116,844 | €303,989 | ▲ 160% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€32,380 | -€85,224 | -€170,272 | ▼ 99.8% |
| + Depreciation and write-downs630 | €25,936 | €42,861 | €67,127 | ▲ 56.6% |
| Operating cash flow (approximation) | -€6,444 | -€42,363 | -€103,145 | ▼ 143% |
| Investment in fixed assets (approximation) | - | -€247,973 | -€175,441 | ▲ 29.2% |
| Change in cash | - | €57,979 | -€58,970 | ▼ 202% |
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
2022
12-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 06-12-2022
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
2020
31-12
Financial
Weakest financial yearnet -€170,272
Net result drops to -€170,272, the lowest in the series.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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 | NATHALIE BEERNAERT DAMMESTRAAT-WEST 6,
8800 ROESELARE |
06-12-2022 → present |
Public money · subsidies and aid
Flemish government
2022 · 2 entries · 12,960 EUR awarded · 12,960 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 2 | 12,960 EUR | 12,960 EUR |