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Cic

Active
Private limited company·Activiteiten van eetgelegenheden met volledige bediening· 7 yrs active
Open bankruptcy
KBO/BCE: BE 0729.932.423
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Age7 yrs
Staff (FTE)7.4
Real estate1 parcel · 283 m²

Summary

Conclusion

the dossier summarised in one paragraph

A bankruptcy procedure is open for Cic according to publications in the Belgian State Gazette. The 2022 annual accounts show negative equity (€-61k) and a net result of €-72k.

Based on the State Gazette, CBE and 3 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Insolvency timeline

1 events
10-07-2024
Bankruptcy Opening
Date: 27-06-2024 · Ondernemingsrechtbank Antwerpen, afdeling Hasselt · CIC BV VENNESTRAAT 51, 3600 GENK · Publications in State Gazette ↗

Signals

Insufficient current data: the most recent filed accounts (financial year 2022) are too old to derive current signals.

Filing behaviour

From the deposit records, complete market-wide
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 31-08-2023, 31 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.
How we compute the deadline
The year end is derived from 3 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2022, that is 31-07-2023.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 nothing on record not filed -
31-12-2023 31-07-2024 nothing on record not filed -
31-12-2022 31-07-2023 31-08-2023 31 d late 2023-00393782
31-12-2021 31-07-2022 23-09-2022 54 d late 2022-20439459
31-12-2020 31-07-2021 30-09-2021 61 d late 2021-70900425

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-72k
Working capital€-78k-1032.1%
Directors3

Annual accounts & ratios

Source: NBB · 2022
Annual accounts filed on 31-08-2023 with the NBB · fiscal year 2022 · micro
€-100k€-50k€0€50k€100kOperating result 2020: €-75k€-75kNet result 2020: €-77k€-77kOperating result 2021: €86k€86kNet result 2021: €83k€83kOperating result 2022: €-71k€-71kNet result 2022: €-72k€-72k202020212022
Operating resultNet result
Sector comparison
Fiscal year 2022 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)
Metric This company Sector median Position in the sector
Solvency -64.2% 16.7%
better than 14% of 3544 sector peers
Net result €-72k €739
better than 5% of 3526 sector peers
Equity €-61k €10k
better than 7% of 3550 sector peers
Gross operating margin €49k €35k
better than 58% of 3512 sector peers
Staff costs €111k €40k
higher than 79% of 2481 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
Solvency P14
2020: P18 · n=12902021: P38 · n=20872022: P14 · n=35442020 2022
Stable position over 2020-2022 · n=1290-3544
Net result P5
2020: P5 · n=12822021: P95 · n=20822022: P5 · n=35262020 2022
Stable position over 2020-2022 · n=1282-3526
Equity P7
2020: P9 · n=12942021: P46 · n=20942022: P7 · n=35502020 2022
Stable position over 2020-2022 · n=1294-3550
Gross operating margin P58
2020: P88 · n=12772021: P91 · n=20702022: P58 · n=35122020 2022
Weakening position over 2020-2022 · n=1277-3512
Describes the position versus peers, not a forecast.
EBITDA
€-67k
- 20-22
Net profit
€-72k
- 20-22
Cash flow
€-68k
- 20-22
Total assets
€94k
-28.8% 20-22
Equity
€-61k
- 20-22
Working capital
€-78k
-1032.1% 20-22
Employees (FTE)
7
+57.4% 20-22
Staff costs
€111k
+119.9% 20-22
Debt
€155k
+27.7% 20-22
Debt ≤ 1y
€150k
+24.0% 20-22
Current ratio
0.48
-49.2% 20-22
Quick ratio
0.48
-49.2% 20-22
Solvency
-64.2%
- 20-22
Debt / equity
-2.56
- 20-22
ROE
118.4%
-84.2% 20-22
ROA
-76.0%
- 20-22
Interest coverage
-95.95
- 20-22
Figures by fiscal year
Fiscal year2022
Depositmicro
Revenue-
EBITDA€-67k
Net profit€-72k
Cash flow€-68k
Staff costs€111k
Income taxes-
Dividends-
Total assets€94k
Equity€-61k
Debt€155k
of which ≤ 1y€150k
of which > 1y-
Working capital€-78k
Employees (FTE)7.4
Ratios (computed)
2022
Current ratio0.48
Quick ratio0.48
Working capital ratio-83.2%
Solvency-64.2%
Debt / equity-2.56
Long-term debt ratio-
Interest coverage-95.95
Gross margin-
Net margin-
ROA-76.0%
ROE118.4%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2022
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2022
Balance sheet, Assets
TOTAL ASSETS 20/58€94k
Fixed assets 21/28€22k
Tangible fixed assets 22/27€22k
Current assets 29/58€72k
Amounts receivable within one year 40/41€55k
Cash & bank 54/58€16k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€94k
Equity 10/15€-61k
Contributions / capital 10/11€5k
Accumulated profits (losses) 14€-66k
Amounts payable 17/49€155k
Amounts payable within one year 42/48€150k
Trade debts payable within one year 44€56k
Income statement
Gross operating margin 9900€49k
Operating result 9901€-71k
Financial income 75€15
Financial charges 65€697
Result before taxes 9903€-72k
Net result for the period 9904€-72k
Result to be appropriated 9905€-72k
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2022 · computed
0 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2022 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Directors

Directors & mandates

2 directors
Former directors (2)
  • Russo Ivan
    Director
    State Gazette act 23013528 (27-01-2023)
    Former
    01-04-2022 → 20-11-2023
    2 events
    • 20-11-2023 Resigned· Director
    • 01-04-2022 Appointed· Director
  • Russo Pierro
    Director
    State Gazette act 23013528 (27-01-2023)
    Former
    - → 01-04-2022
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

3 mandates
Role Name Tenure Source
Curator LIEVE DEHAESE
LUIKERSTEENWEG 187, 3500 HASSELT
 27-06-2024 → present Belgian State Gazette
Curator JOHAN DEHAESE
LUIKERSTEENWEG 187, 3500 HASSELT
 27-06-2024 → present Belgian State Gazette
Curator JESSIE DECKMYN
LUIKERSTEENWEG 187, 3500 HASSELT-
 27-06-2024 → present Belgian State Gazette

Legal Structure

NACE primary Activiteiten van eetgelegenheden met volledige bediening(56111)
Legal form Private limited company(610)
Incorporation09-07-2019
StatusActive
Postal code-
First BS signal 10-07-2024
Latest BS signal 10-07-2024

Structure & network

Ownership & control

No ownership or control structure found in the sources.

For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.

3 court or liquidation mandates are on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.

Locations & real estate

Registered office

from the Crossroads Bank
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.

Establishment units

1 location
Cic
Restaurant van het traditionele type
since 20192.292.642.708
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area283 m²
Buildings1
Building footprint157 m²
Volume (LiDAR)1,316 m³
Tallest building11.2 m · ±3 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
71307H0302/00E000 Flanders 283 m² 1 · 157 m² 11.2 m · 3 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

1 event from the State Gazette
10-07-2024
Bankruptcy Opening
Date: 27-06-2024 · Ondernemingsrechtbank Antwerpen, afdeling Hasselt · CIC BV VENNESTRAAT 51, 3600 GENK · Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262024-07-10 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgisch Staatsblad · acts

2 acts
All acts · 2 updated 2 years ago
2023
22-12-2023 Russo Ivan resigns as director Director changes
  • Russo Ivan, Bestuurder
27-01-2023 1 director appointed, 1 resigning Director changescorrection
  • Russo Ivan, Bestuurder
  • Russo Pierro, Bestuurder

Analysis

Snowflake analysis

financial profile on 5 axes
Health0Profitability100Solvency33Growth78Stability0
42 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0
Profitability 100
Solvency 33
Growth 78
Stability 0

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Credit advice

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 2,912 of the 20,286 companies in this sector. 2,274 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Eetgelegenheden met volledige bediening56101Activiteiten van eetgelegenheden met volledige bediening56111
Primary activity highlighted.
Names & trade names
Legal nameNL Cic
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.