Zubr Projects
Open bankruptcyA bankruptcy procedure is open for Zubr Projects according to publications in the Belgian State Gazette; curator: MICHIEL VERRAES.
Summary
The 2023 annual accounts show negative equity (€-30k) and a net result of €-16k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 06-03-2024, 55 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
55 d early
2022
48 d early
2021
79 d early
2020
51 d early
2019
33 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€-30k▼ 107%
2022 · €-15k
2019: €-277
2020: €-2k
2021: €3k
2022: €-15k
2019 → 2023
Total assets
€58k▼ 52.4%
2022 · €121k
2019: €4k
2020: €4k
2021: €23k
2022: €121k
2019 → 2023
Net result
€-16k▲ 7.4%
2022 · €-17k
2019: €-4k
2020: €-2k
2021: €4k
2022: €-17k
2019 → 2023
Working capital
€-44k▼ 65.6%
2022 · €-26k
2019: €-1k
2020: €-3k
2021: €2k
2022: €-26k
2019 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€-277-€-2k▼ 565%€3k€-15k€-30k▼ 107%
Operating result€-3k-€-1k▲ 60.7%€6k€-16k€-14k▲ 15.0%
Net result€-4k-€-2k▲ 57.3%€4k€-17k€-16k▲ 7.4%
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 €14k in 2023 against €16k in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €58k
Fixed assets
€31k ▼ 41.4%
Current assets
€27k ▼ 60.8%
Key figures and ratios
EBITDA
€-11k▲
2022 · €-12k
Cash flow
€-13k▲
2022 · €-13k
Solvency
-52.6%▼
2022 · -12.1%
Current ratio
0.38▼
2022 · 0.72
Debt to equity
-2.90▲
2022 · -9.27
ROA
-27.6%▼
2022 · -14.2%
Interest coverage
-5.15▲
2022 · -13.02
Debt
€88k▼
2022 · €136k
Debt ≤ 1 year
€71k▼
2022 · €95k
Debt > 1 year
€18k▼
2022 · €41k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2023 against 2022 · 44 lines
Balance sheet
Code20222023
Assets
Total assets20/58€121k€58k▼
Fixed assets21/28€53k€31k▼
Intangible fixed assets21€456€340▼
Tangible fixed assets22/27€52k€31k▼
Plant, machinery and equipment23€1k€2k▲
Furniture and vehicles24€30k€29k▼
Leasing and similar rights25€22k-
Current assets29/58€69k€27k▼
Stocks and contracts in progress3€1k-
Stocks30/36€1k-
Amounts receivable within one year40/41€64k€26k▼
Trade receivables40€38k€18k▼
Other amounts receivable41€25k€8k▼
Cash at bank and in hand54/58€2k€215▼
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€121k€58k▼
Equity10/15€-15k€-30k▼
Contributions10/11€12k€12k▲
Profit (loss) carried forward14€-27k€-43k▼
Amounts payable17/49€136k€88k▼
Amounts payable after more than one year17€41k€18k▼
Financial debts170/4€41k€18k▼
Amounts payable within one year42/48€95k€71k▼
Current portion of amounts payable after more than one year42€10k€6k▼
Trade debts44€47k€10k▼
Suppliers440/4€47k€10k▼
Taxes, remuneration and social security45€2k€2k▼
Taxes450/3€359-
Remuneration and social security454/9€2k€2k=
Other amounts payable47/48€36k€53k▲
Accrued charges and deferred income492/3-€12
Income statement
Code20222023
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€3k▼
Other operating charges640/8€146€4k▲
Gross operating margin9900€-12k€-7k▲
Operating profit (loss)9901€-16k€-14k▲
Financial income75/76B€3€1▼
Recurring financial income75€3€1▼
Financial charges65/66B€942€2k▲
Recurring financial charges65€942€2k▲
Profit (loss) for the period before taxes9903€-17k€-16k▲
Profit (loss) for the period9904€-17k€-16k▲
Profit (loss) for the period to be appropriated9905€-17k€-16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-27k€-43k▼
Profit (loss) brought forward from the previous period14P€-10k€-27k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
20-04
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · ZUBR PROJECTS BV POORT- STRAAT 103A, 1770 LIEDEKERKE · event 14-04-2026
2024
06-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €-17k ▼493%
Net result drops to €-17k, the lowest in the series.
10-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
30-09
Financial
Liquidity doublescurrent ratio 1.10
Current ratio from 0.55 to 1.10.
08-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
06-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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
1 establishment unit since 2016
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
1,889 m²
Building footprint
237 m²
Volume, LiDAR
1,950 m³
2 parcels, Flanders, Wallonia · tallest building 9.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BLANCKE LEEMANS FOOD
since 20162.258.753.678
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25007D0204/00W000 | Wallonia | 1,734 m² | 1 · 82 m² | 9.1 m · 2 fl. |
| 23044A0418/00V000 | Flanders | 155 m² | 1 · 155 m² | 9.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 | MICHIEL VERRAES EDMOND TOLLENAERE-
STRAAT 56-79 B23, 1020 BRUSSEL 2 |
14-04-2026 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 150 EUR awarded · 150 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 150 EUR | 150 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
FRANK RENOVATIE
BE 0700.438.285
Waregem · Eq €2,564
J&P Construct
BE 0840.641.887
Mechelen · Eq €2,569
DETENDEZ-VOUS
BE 0797.388.302
Namur · Eq €2,507
MAEDU CONSTRUCT
BE 1005.616.222
Drogenbos · Eq €2,576
HOME RENEWAL
BE 0694.959.270
Brussel · Eq €2,587
Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 1,604 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded25-08-2016
Fiscal year end30-09
Activities, NACEBEL 2025
43990Other specialised construction activities
41001General construction of residential buildings
43222Installation of electric heating, air conditioning, cooling and ventilation
43341Painting of buildings
43910Bricklaying and masonry work
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
46389Wholesale of other food products
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.