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Complete company report
Generated 18-08-2026
Active BE 0470.939.453Private limited company (pre-2019)Open bankruptcy

DUO

· 26 yrs active
Conclusion Checked

A bankruptcy procedure is open for DUO according to publications in the Belgian State Gazette. The file additionally contains 1 administrative flag. The 2023 annual accounts show negative equity (€-259k) and a net result of €-37k.

Based on the State Gazette, CBE and 6 annual accounts.
Key figures
Equity €-259k
Net result €-37k
Active 26 yrs
Board 2
Financial profile 5 of 5 axes measured · computed by Checked
Health0Profitability71Solvency33Growth58Stability0
32 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0
Profitability 71
Solvency 33
Growth 58
Stability 0
Bankruptcy probability (12 mo) Checked model v1 · free

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.

Risk Assessment rule-based
53 / 100
High riskRegister: open bankruptcy
This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.
Components
· Open bankruptcy (+50)
· 1 administrative flag (+3)
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 Flags1 events
Address struck
Health barometer FY 2023 · 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.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2023 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Financial overview10 NBB filings
Annual accounts filed on 30-01-2025 with the NBB · fiscal year 2023 · micro
€-300k€-200k€-100k€0Operating result 2019: €-40k€-40kNet result 2019: €-212k€-212kOperating result 2020: €-659€-659Net result 2020: €-212k€-212kOperating result 2021: €7k€7kNet result 2021: €1k€1kOperating result 2022: €-32k€-32kNet result 2022: €-42k€-42kOperating result 2023: €-26k€-26kNet result 2023: €-37k€-37k20192020202120222023
Operating resultNet result
EBITDA
€-18k
+18.9% 18-23
Net profit
€-37k
+12.8% 18-23
Cash flow
€-29k
+11.6% 18-23
Total assets
€44k
-84.6% 18-23
Equity
€-259k
-16.6% 18-23
Working capital
€-97k
-43.3% 18-23
Income taxes
€6k
+0.3% 18-23
Debt
€303k
-40.2% 18-23
Show 9 other metrics
Debt ≤ 1y
€103k
-66.5% 18-23
Debt > 1y
€200k
0.0% 18-23
Current ratio
0.06
-92.7% 18-23
Quick ratio
0.06
-92.7% 18-23
Solvency
-588.7%
-655.2% 18-23
Debt / equity
-1.17
+48.8% 18-23
ROE
14.2%
-25.2% 18-23
ROA
-83.8%
-464.7% 18-23
Interest coverage
-3.87
+28.9% 18-23
Figures by fiscal year
Fiscal year2023
Depositmicro
Revenue-
EBITDA€-18k
Net profit€-37k
Cash flow€-29k
Staff costs-
Income taxes€6k
Dividends-
Total assets€44k
Equity€-259k
Debt€303k
of which ≤ 1y€103k
of which > 1y€200k
Working capital€-97k
Employees (FTE)-
Ratios (computed)
2023
Current ratio0.06
Quick ratio0.06
Working capital ratio-220.5%
Solvency-588.7%
Debt / equity-1.17
Long-term debt ratio-0.77
Interest coverage-3.87
Gross margin-
Net margin-
ROA-83.8%
ROE14.2%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€44k
Fixed assets 21/28€38k
Tangible fixed assets 22/27€37k
Financial fixed assets 28€659
Current assets 29/58€6k
Amounts receivable within one year 40/41€5k
Cash & bank 54/58€1k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€44k
Equity 10/15€-259k
Contributions / capital 10/11€19k
Reserves 13€13k
Accumulated profits (losses) 14€-290k
Amounts payable 17/49€303k
Amounts payable after one year 17€200k
Amounts payable within one year 42/48€103k
Trade debts payable within one year 44€30k
Income statement
Gross operating margin 9900€-13k
Operating result 9901€-26k
Financial income 75€127
Financial charges 65€5k
Result before taxes 9903€-31k
Income taxes 67/77€6k
Net result for the period 9904€-37k
Result to be appropriated 9905€-37k
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 4 directors
Current directors & mandates
  • COHEN Philippe
    Director
    State Gazette act 25117381 (17-09-2025)
    Current
    17-09-2025 → present
  • SEPULVEDA DE STAERCKE Martin
    Director
    State Gazette act 24097620 (28-06-2024)
    Current
    28-06-2024 → present
Former directors (2)
  • SEPULVEDA De STARERCKE Martin
    Director
    State Gazette act 25117381 (17-09-2025)
    Former
    - → 17-09-2025
  • LUSTMAN David
    Director
    State Gazette act 24097620 (28-06-2024)
    Former
    - → 28-06-2024
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.
Directors & mandates1 person
Role Name Tenure Source
Curator MéLANIE VALLES RUIS
DREVE DES RENARDS 8, 1180 UCCLE
 29-09-2025 → present Belgian State Gazette
Legal Structure
NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation29-02-2000
StatusActive
Postal code-
First BS signal 06-10-2025
Latest BS signal 06-10-2025
Establishment units 1 location
DUO
Chemin de la Ramée 2, 1380 LasneVervaardiging van geprefabriceerde gebouwen, overwegend van metaal : bouwketen, modulaire tentoonstellingselementen, telefooncellen, enz
since 20002.097.217.402
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

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.

Wallonia 1 (50%) Brussels 1 (50%)
Parcel (capakey) Region Area Buildings Height / fl.
25076A0009/00K000 Wallonia 878 m² 1 · 107 m² 5.3 m · 1 fl.
21809K0170/02B005 Brussels 336 m² 1 · 340 m² 21.1 m · 5 fl.
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.
Updates 17 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
23-02-2026
KBO administration Address struck
2025
06-10-2025
Bankruptcy Opening
Tribunal de l’entreprise francophone de Bruxelles · SRL DUO AVENUE DE STALIN- GRAD 52, 1000 BRUXELLES · event 29-09-2025
17-09-2025
State Gazette act Capital & shares
30-01-2025
NBB filing Annual accounts filed
fiscal year 2023 · micro
2024
04-12-2024
State Gazette act Registered-office change
27-11-2024
State Gazette act Registered-office change
28-06-2024
State Gazette act Capital & shares
2023
07-10-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
2022
21-10-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
2021
28-12-2021
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2020
23-11-2020
NBB filing Annual accounts filed
fiscal year 2019 · volledig
2019
15-10-2019
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2016
31-08-2016
NBB filing Annual accounts filed
fiscal year 2015 · volledig
2015
22-12-2015
NBB filing Annual accounts filed
fiscal year 2014 · volledig
2014
30-09-2014
NBB filing Annual accounts filed
fiscal year 2013 · volledig
2013
30-08-2013
NBB filing Annual accounts filed
fiscal year 2012 · volledig
Lifecycle & Insolvency Signals2 events
23-02-2026
KBO administration Address struck
 · Publications in State Gazette ↗
Full insolvency chronology

The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.

We hold 1 further earlier event in this file, covering 29-09-2025 to 23-02-2026.

Available in Kantoor S. See plans →
Time machine, BS events + macro context 2021, 2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262025-10-06 · Bankruptcy · Opening2026-02-23 · KBO administration · Address struck
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgian State Gazette reading coverage 0 of 12 acts read

We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 4 acts
Capital history · 2
17-09-2025
Capital change
28-06-2024
Capital change
Address history · 2
04-12-2024
Registered-office move
27-11-2024
Registered-office move
All acts · 4 updated 11 months ago
2025
17-09-2025 All shares are now held by a single shareholder Capital & shares
Technical details 
{
  "events": [
    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Philippe COHEN",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": null,
          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "eenhoofdigheid_declaration",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "share_class_creation",
      "after_eur": null,
      "delta_eur": null,
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      "decrease_purpose": null,
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      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Brussel",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2025-09-17",
    "filing_date": "2025-09-10",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2024-04-03",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": null
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0470.939.453",
    "name_full": "DUO",
    "legal_form": "B.V.",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Philippe COHEN",
    "org_rep_person_name": null,
    "person_role_at_subject": "Bestuurder"
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "Philippe COHEN",
      "role": "aandeelhouder",
      "n_shares": null,
      "share_class": null
    },
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "Martin SEPULVEDA De STARERCKE",
      "role": "aandeelhouder",
      "n_shares": null,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
2024
04-12-2024 Registered office moved to Uccle/Bruxelles Registered-office change
  • Rue Beeckman 53-1180 Uccle/Bruxelles
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Rue Beeckman 53-1180 Uccle/Bruxelles",
        "city": "Uccle/Bruxelles",
        "region": "brussels_hoofdstedelijk_gewest",
        "street": "Rue Beeckman",
        "country": "BE",
        "postcode": "1180",
        "box_number": null,
        "street_number": "53",
        "locality_suffix": null
      },
      "old_address": null,
      "effective_date": null,
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": null,
      "old_address_source": "act_body",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": null,
      "statutaire_vs_werkelijke": null,
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2024-12-04",
    "filing_date": "2024-11-26",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "date": "2024-11-25",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0470.939.453",
    "name_full": "DUO",
    "legal_form": "SPRL"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "SEPULVEDA DE STAERCKE MARTIN",
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "Bijlagen bij het Belgisch Staatsblad",
    "Annexes du Moniteur belge"
  ]
}
27-11-2024 Registered office moved within BRUXELLES Registered-office change
  • RUE BARA 57 - 1070 BRUXELLES → CHAUSSÉE D'ALSEMBERG 897 - 1180 BRUXELLES
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "CHAUSS\u00C9E D\u0027ALSEMBERG 897 - 1180 BRUXELLES",
        "city": "BRUXELLES",
        "region": "brussels_hoofdstedelijk_gewest",
        "street": "CHAUSS\u00C9E D\u0027ALSEMBERG",
        "country": "BE",
        "postcode": "1180",
        "box_number": null,
        "street_number": "897",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "RUE BARA 57 - 1070 BRUXELLES",
        "city": "BRUXELLES",
        "region": "brussels_hoofdstedelijk_gewest",
        "street": "RUE BARA",
        "country": "BE",
        "postcode": "1070",
        "box_number": null,
        "street_number": "57",
        "locality_suffix": null
      },
      "effective_date": null,
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": null,
      "statutaire_vs_werkelijke": null,
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2024-11-27",
    "filing_date": "2024-11-19",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "date": "2024-11-18",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0470.939.453",
    "name_full": "DUO",
    "legal_form": "SPRL"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "SEPULVEDA DE STAERCKE MARTIN",
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": []
}
28-06-2024 All shares are now held by a single shareholder Capital & shares
Technical details 
{
  "events": [
    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "SEPULVEDA DE STAERCKE Martin",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": null,
          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "eenhoofdigheid_declaration",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "share_buyback",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "share_split",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Bruxelles",
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2024-06-28",
    "filing_date": "2024-06-14",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decision": {
    "body": "buitengewone_algemene_vergadering",
    "act_date": "2024-06-29",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2024-06-29"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0470.939.453",
    "name_full": "ten entie DUO",
    "legal_form": "SRL",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "SEPULVEDA DE STAERCKE Martin",
      "role": "aandeelhouder",
      "n_shares": null,
      "share_class": null
    },
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "LUSTMAN David",
      "role": "aandeelhouder",
      "n_shares": null,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameNL DUO
Registration history
  1. 23-02-2026 Address struck
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative