DAVID
Open bankruptcyAre 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 Antwerp, Antwerp division
- Declared bankrupt
- 2 October 2025
- Supervising judge
- Anne-Marie Valvekens
- Official Gazette
- 08-10-2025 (pdf) ↗search the document for 2025/140549
Deadlines
- Provisional date payments stopped
- 2 October 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 23 October 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 1 November 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 28 November 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 2 October 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Katrien TeughelsCoremansstraat 14A, 2600 Berchem (Antwerpen)info@teughels-law.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.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
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.Creditor guide for this company
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 8966 sector peers (2024).
NBB · sector comparisonPosition among 8966 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-03-2025, 136 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2024
136 d early
2023
120 d early
2022
61 d early
2021
16 d early
2020
188 d late
2019
105 d late
2018
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed 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 Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?Process a list How is the Advertising agencies sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€24,986
2023 · -€249,676
Total assets
€268,957▲ 340%
2023 · €61,179
Net result
€274,662▲ 83.5%
2023 · €149,658
Working capital
€120,298
2023 · -€249,676
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€5,327▲ 98.9%-€6,716▼ 26.1%€57,752€151,441▲ 162%€275,117▲ 81.7%
Net result-€6,678below the sector's middle half▲ 98.6%-€17,308below the sector's middle half▼ 159%€56,822above the sector's middle half€149,658above the sector's middle half▲ 163%€274,662above the sector's middle half▲ 83.5%
Equity-€438,848below the sector's middle half▼ 1.5%-€456,156below the sector's middle half▼ 3.9%-€399,334below the sector's middle half▲ 12.5%-€249,676below the sector's middle half▲ 37.5%€24,986within the sector's middle half
Total assets€35,694below the sector's middle half▲ 17.4%€28,932below the sector's middle half▼ 18.9%€24,642below the sector's middle half▼ 14.8%€61,179within the sector's middle half▲ 148%€268,957within the sector's middle half▲ 340%
Debt€474,542▲ 2.6%€485,088▲ 2.2%€423,976▼ 12.6%€310,856▼ 26.7%€243,971▼ 21.5%
Working capital-€438,848below the sector's middle half▼ 171%-€456,156below the sector's middle half▼ 3.9%-€399,334below the sector's middle half▲ 12.5%-€249,676below the sector's middle half▲ 37.5%€120,298above the sector's middle half
Solvency-408.1%below the sector's middle half9.3%below the sector's middle half▲ 417.4pp
Current ratio0.08below the sector's middle half▼ 0.080.06below the sector's middle half▼ 0.020.06below the sector's middle half=0.20below the sector's middle half▲ 0.141.84within the sector's middle half▲ 1.64
Return on assets (ROA)-18.7%below the sector's middle half-59.8%below the sector's middle half▼ 41.1pp230.6%above the sector's middle half▲ 290.4pp244.6%above the sector's middle half▲ 14.0pp102.1%above the sector's middle half▼ 142.5pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 82% above 2023 and is the highest result in the available series.
Balance-sheet composition
Assets €268,957
Fixed assets
€4,688
Current assets
€264,269
Equity and liabilities €268,957
Equity
€24,986
Debt
€243,971
Debt finances 90.7% of the balance-sheet total.
Key figures and ratios
EBITDA
€275,650
Cash flow
€275,196
Debt to equity
9.76
Interest coverage
2784.06
Debt ≤ 1 year
€143,971▼
2023 · €310,856
Debt > 1 year
€100,000
Income taxes
€360▼
2023 · €376
A ratio outside any meaningful range has been withheld (balance sheet total €268,957, equity €24,986).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €534 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€407,566 | €0 | ▲ 100% |
| Other operating charges640/8 | - | €4,883 | €2,225 | €410,260 | €1,416 | ▼ 99.7% |
| Gross operating margin9900 | -€5,327 | -€1,833 | €59,977 | €154,135 | €277,066 | ▲ 79.8% |
| Operating profit (loss)9901 | -€5,327 | -€6,716 | €57,752 | €151,441 | €275,117 | ▲ 81.7% |
| Financial income75/76B | - | €0 | €32 | €0 | €5 | - |
| Recurring financial income75 | €173 | €0 | €32 | €0 | €5 | - |
| Financial charges65/66B | - | €10,593 | €745 | €1,407 | €99 | ▼ 93.0% |
| Recurring financial charges65 | €1,524 | €10,593 | €745 | €1,407 | €99 | ▼ 93.0% |
| Profit (loss) for the period before taxes9903 | -€6,678 | -€17,308 | €57,039 | €150,034 | €275,022 | ▲ 83.3% |
| Income taxes67/77 | - | - | €217 | €376 | €360 | ▼ 4.3% |
| Profit (loss) for the period9904 | -€6,678 | -€17,308 | €56,822 | €149,658 | €274,662 | ▲ 83.5% |
| Profit (loss) for the period to be appropriated9905 | -€6,678 | -€17,308 | €56,822 | €149,658 | €274,662 | ▲ 83.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €35,694 | €28,932 | €24,642 | €61,179 | €268,957 | ▲ 340% |
| Fixed assets21/28 | - | - | - | - | €4,688 | - |
| Tangible fixed assets22/27 | - | - | - | - | €4,688 | - |
| Other tangible fixed assets26 | - | - | - | - | €4,688 | - |
| Current assets29/58 | €35,694 | €28,932 | €24,642 | €61,179 | €264,269 | ▲ 332% |
| Amounts receivable within one year40/41 | €35,678 | €28,906 | €19,729 | €46,792 | €259,511 | ▲ 455% |
| Trade receivables40 | - | €28,314 | €19,729 | €45,450 | €259,076 | ▲ 470% |
| Other amounts receivable41 | - | €592 | €0 | €1,342 | €435 | ▼ 67.5% |
| Cash at bank and in hand54/58 | €16 | €26 | €2,680 | €13,221 | €4,180 | ▼ 68.4% |
| Deferred charges and accrued income490/1 | - | - | €2,233 | €1,167 | €577 | ▼ 50.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €35,694 | €28,932 | €24,642 | €61,179 | €268,957 | ▲ 340% |
| Equity10/15 | -€438,848 | -€456,156 | -€399,334 | -€249,676 | €24,986 | ▲ 110% |
| Contributions10/11 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Capital10 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Issued capital100 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Profit (loss) carried forward14 | -€501,348 | -€518,656 | -€461,834 | -€312,176 | -€37,514 | ▲ 88.0% |
| Amounts payable17/49 | €474,542 | €485,088 | €423,976 | €310,856 | €243,971 | ▼ 21.5% |
| Amounts payable after more than one year17 | €0 | - | - | - | €100,000 | - |
| Financial debts170/4 | - | - | - | - | €100,000 | - |
| Amounts payable within one year42/48 | €474,542 | €485,088 | €423,976 | €310,856 | €143,971 | ▼ 53.7% |
| Current portion of amounts payable after more than one year42 | - | €0 | - | - | - | - |
| Trade debts44 | €3,021 | €5,711 | €6,375 | €63,057 | €119,240 | ▲ 89.1% |
| Suppliers440/4 | - | €5,711 | €6,375 | €63,057 | €119,240 | ▲ 89.1% |
| Taxes, remuneration and social security45 | - | - | €14,583 | €376 | €736 | ▲ 95.7% |
| Taxes450/3 | - | - | €14,583 | €376 | €736 | ▲ 95.7% |
| Other amounts payable47/48 | - | €479,377 | €403,019 | €247,423 | €23,994 | ▼ 90.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,678 | -€17,308 | €56,822 | €149,658 | €274,662 | ▲ 83.5% |
| + Depreciation and write-downs630 | - | - | - | - | €534 | - |
| Operating cash flow (approximation) | -€6,678 | -€17,308 | €56,822 | €149,658 | €275,196 | ▲ 83.9% |
| Change in cash | - | €10 | €2,654 | €10,541 | -€9,040 | ▼ 186% |
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
2025
08-10
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 02-10-2025
17-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €274,662 ▲83.5%
Operating result €275,117, net result €274,662, both a record.
31-12
Financial
Liquidity times 9current ratio 1.84
Current ratio from 0.20 to 1.84; short-term debt falls from €310,856 to €143,971.
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €56,822
Net result €56,822 after 3 loss-making years.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
04-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 188 days late
2020
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 105 days late
2019
31-12
Financial
Weakest financial yearnet -€469,241
Net result drops to -€469,241, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
13-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 44 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2016
Ground area
449 m²
Building footprint
438 m²
Volume, LiDAR
4,844 m³
Parcel 11811L3958/00T000, Flanders · tallest building 20.1 m, ±5 floors. Linked by address, not a title deed.
107
companies at this address
See who is registered here
1 establishment unit
DAVID
since 20162.259.220.763
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3958/00T000 | Flanders | 449 m² | 1 · 438 m² | 20.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
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 | KATRIEN TEUGHELS Coremansstraat 14A, 2600 Berchem (Antwerpen) |
02-10-2025 → present |
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Of 9,851 companies in this sector we hold annual accounts for 3,760. 2,738 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded20-10-2016
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.