WESTDAK
InactiveWESTDAK was declared bankrupt on 17-02-2022 (Ondernemingsrechtbank Gent, afdeling Oostende); the bankruptcy was closed by liquidation by judgment of 12-02-2024, published in the Belgian State Gazette on 19-02-2024.
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 30-09-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
30-09-2021 close30-04-2022 deadline28-09-2026 today
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 30-09-2020 was due by 30-04-2021 and was filed on 14-05-2021, 14 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
14 d late
2019
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 14 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
€40,110▲ 33.5%
2019 · €30,045
Total assets
€138,877▼ 17.6%
2019 · €168,579
Net result
€15,065▼ 67.7%
2019 · €46,586
Working capital
€28,083▲ 84.0%
2019 · €15,261
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€254-€62,393▲ 24,504%€29,811▼ 52.2%
Net result-€2,728-€46,586€15,065▼ 67.7%
Equity-€16,541-€30,045€40,110▲ 33.5%
Total assets€118,161-€168,579▲ 42.7%€138,877▼ 17.6%
Debt€134,702-€138,533▲ 2.8%€98,767▼ 28.7%
Working capital-€27,497-€15,261€28,083▲ 84.0%
Staff (FTE)1.4-
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2020; 2020 is 52% below 2019.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €138,877
Fixed assets
€12,027 ▼ 18.6%
Current assets
€126,850 ▼ 17.5%
Equity and liabilities €138,877
Equity
€40,110 ▲ 33.5%
Debt
€98,767 ▼ 28.7%
Debt's share of the balance-sheet total falls from 82.2% to 71.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32,906▼
2019 · €68,398
Cash flow
€18,160▼
2019 · €52,591
Current ratio
1.28▲
2019 · 1.11
ROE
37.6%▼
2019 · 155.1%
ROA
10.8%▼
2019 · 27.6%
Debt ≤ 1 year
€98,767▼
2019 · €138,533
Income taxes
€11,122▼
2019 · €16,584
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 | €4,766 | €6,005 | €3,095 | ▼ 48.5% |
| Gross operating margin9900 | €55,759 | €126,689 | €79,769 | ▼ 37.0% |
| Operating profit (loss)9901 | €254 | €62,393 | €29,811 | ▼ 52.2% |
| Recurring financial income75 | €1,454 | €2,998 | €395 | ▼ 86.8% |
| Recurring financial charges65 | €3,527 | €2,220 | €4,019 | ▲ 81.0% |
| Profit (loss) for the period before taxes9903 | -€1,820 | €63,170 | €26,187 | ▼ 58.5% |
| Income taxes67/77 | €908 | €16,584 | €11,122 | ▼ 32.9% |
| Profit (loss) for the period9904 | -€2,728 | €46,586 | €15,065 | ▼ 67.7% |
| Profit (loss) for the period to be appropriated9905 | -€2,728 | €46,586 | €15,065 | ▼ 67.7% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €118,161 | €168,579 | €138,877 | ▼ 17.6% |
| Fixed assets21/28 | €13,491 | €14,784 | €12,027 | ▼ 18.6% |
| Tangible fixed assets22/27 | €11,891 | €13,184 | €10,427 | ▼ 20.9% |
| Financial fixed assets28 | €1,600 | €1,600 | €1,600 | = |
| Current assets29/58 | €104,670 | €153,795 | €126,850 | ▼ 17.5% |
| Amounts receivable within one year40/41 | €101,376 | €98,795 | €121,968 | ▲ 23.5% |
| Cash at bank and in hand54/58 | €851 | €1,178 | €4,357 | ▲ 270% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €118,161 | €168,579 | €138,877 | ▼ 17.6% |
| Equity10/15 | -€16,541 | €30,045 | €40,110 | ▲ 33.5% |
| Contributions10/11 | €6,200 | €6,200 | - | - |
| Reserves13 | €892 | €892 | €892 | = |
| Profit (loss) carried forward14 | -€23,633 | €22,953 | €33,019 | ▲ 43.9% |
| Amounts payable17/49 | €134,702 | €138,533 | €98,767 | ▼ 28.7% |
| Amounts payable within one year42/48 | €132,167 | €138,533 | €98,767 | ▼ 28.7% |
| Trade debts44 | €123,904 | €117,189 | €60,357 | ▼ 48.5% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,728 | €46,586 | €15,065 | ▼ 67.7% |
| + Depreciation and write-downs630 | €4,766 | €6,005 | €3,095 | ▼ 48.5% |
| Operating cash flow (approximation) | €2,038 | €52,591 | €18,160 | ▼ 65.5% |
| Investment in fixed assets (approximation) | - | -€7,298 | -€338 | ▲ 95.4% |
| Change in cash | - | €327 | €3,180 | ▲ 873% |
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
2024
19-02
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Oostende · event 12-02-2024
2022
23-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oostende · event 17-02-2022
2021
14-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 14 days late
2020
20-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Back to profitnet €46,586
Net result €46,586 after one loss-making year.
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
25-09
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 148 days late
25-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 513 days late
24-09
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 877 days late
24-09
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema · 1242 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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 | JEAN LAMMENS Kemmelbergstraat 11, 8400 OOSTENDE- |
17-02-2022 → 12-02-2024 |