Zefrema
Bankruptcy closedZefrema was declared bankrupt on 11-12-2025 (Ondernemingsrechtbank Gent, afdeling Oudenaarde); the bankruptcy was closed for insufficient assets by judgment of 11-06-2026, published in the Belgian State Gazette on 23-06-2026.
No longer registered with the KBO since 18-06-2026; last annual accounts for fiscal year 2020.
Signals
Three signals.
+raises risk○neutral
Financials · fiscal year 2020, micro schema
Equity
€50k▼ 27.6%
2019 · €69k
2018: €57k
2019: €69k
2018 → 2020
Total assets
€137k▼ 12.3%
2019 · €156k
2018: €148k
2019: €156k
2018 → 2020
Net result
€-19k
2019 · €12k
2018: €26k
2019: €12k
2018 → 2020
Working capital
€37k▼ 17.4%
2019 · €45k
2018: €24k
2019: €45k
2018 → 2020
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201820192020Trend
Equity€57k-€69k▲ 20.6%€50k▼ 27.6%
Operating result€31k-€18k▼ 42.0%€-19k
Net result€26k-€12k▼ 54.4%€-19k
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 2020: a loss of €19k after €18k in 2019, the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €137k
Fixed assets
€13k▼ 46.1%
Current assets
€123k▼ 5.9%
Equity and liabilities €137k
Equity
€50k▼ 27.6%
Debt
€87k=
The debt ratio rises from 55.6% to 63.3%. Equity is lower.
Key figures and ratios
EBITDA
€-8k▼
2019 · €29k
Cash flow
€-8k▼
2019 · €23k
Solvency
36.7%▼
2019 · 44.4%
Current ratio
1.43▼
2019 · 1.52
Quick ratio
1.43▼
2019 · 1.52
Debt / equity
1.73▲
2019 · 1.25
ROE
-38.1%▼
2019 · 17.1%
ROA
-14.0%▼
2019 · 7.6%
Interest coverage
-57.97▼
2019 · 10.33
Debt
€87k=
2019 · €87k
Debt ≤ 1 year
€87k=
2019 · €87k
Staff costs
€4k
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 · 2020 against 2019
Balance sheet
Code20192020
Assets
Total assets20/58€156k€137k▼
Fixed assets21/28€24k€13k▼
Tangible fixed assets22/27€22k€11k▼
Plant, machinery and equipment23€14k€11k▼
Furniture and vehicles24€8k-
Financial fixed assets28€3k€3k=
Current assets29/58€131k€123k▼
Amounts receivable after more than one year29€2k-
Trade receivables290€2k-
Amounts receivable within one year40/41€71k€67k▼
Trade receivables40€51k€54k▲
Other amounts receivable41€21k€13k▼
Cash at bank and in hand54/58€42k€45k▲
Deferred charges and accrued income490/1€16k€12k▼
Equity and liabilities
Total equity and liabilities10/49€156k€137k▼
Equity10/15€69k€50k▼
Contributions10/11€6k€6k=
Capital10€6k€6k=
Issued capital100€19k€19k=
Uncalled capital101€12k€12k=
Reserves13€27k€27k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Distributable reserves133€25k€25k=
Profit (loss) carried forward14€36k€17k▼
Amounts payable17/49€87k€87k=
Amounts payable within one year42/48€87k€87k=
Trade debts44€55k€55k=
Suppliers440/4€55k€55k=
Taxes, remuneration and social security45€16k€16k=
Taxes450/3€16k€16k=
Other amounts payable47/48€15k€15k=
Income statement
Code20192020
Remuneration, social security and pensions62-€4k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€11k=
Other operating charges640/8-€249
Gross operating margin9900€29k€-4k▼
Operating profit (loss)9901€18k€-19k▼
Financial charges65/66B€3k€132▼
Recurring financial charges65€3k€132▼
Profit (loss) for the period before taxes9903€15k€-19k▼
Income taxes67/77€3k-
Profit (loss) for the period9904€12k€-19k▼
Profit (loss) for the period to be appropriated9905€12k€-19k▼
Appropriation of the result
Profit (loss) to be appropriated9906€36k€17k▼
Profit (loss) brought forward from the previous period14P€24k€36k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
23-06
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Oudenaarde · ZEFREMA BV NINOOFSESTEENWEG 487, 9600 RONSE · event 11-06-2026
2025
17-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Oudenaarde · ZEFREMA BV NINOOFSE- STEENWEG 487, 9600 RONSE · event 11-12-2025
2022
06-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 310 days late
06-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 675 days late
02-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1037 days late
02-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 1402 days late
2020
31-12
Financial
Weakest financial yearnet €-19k ▼261%
Net result drops to €-19k, the lowest in the series.
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 546 days late
28-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 911 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
2014
30-09
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 61 days late
2013
30-08
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 30 days late
2012
27-09
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema · 58 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
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.
Ground area
542 m²
Building footprint
172 m²
Volume, LiDAR
882 m³
Parcel 45422C0906/00V002, Flanders · tallest building 6.9 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45422C0906/00V002 | Flanders | 542 m² | 1 · 172 m² | 6.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 | Lieve TEINTENIER MAQUISSTRAAT 11, 9600 RONSE- |
11-12-2025 → present |
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded29-09-2010
Fiscal year end31-12
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.