FIRST
Open bankruptcyA bankruptcy procedure is open for FIRST according to publications in the Belgian State Gazette; curator: JAN BRAECKMANS.
Summary
The 2024 annual accounts show negative equity (€-16k) and a net result of €-84k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-16k
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 11-07-2025, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
20 d early
2023
342 d late
2022
31 d late
2021
31 d late
2020
124 d late
2019
61 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-16k
2023 · €68k
2018: €231k
2019: €189k
2020: €237k
2021: €139k
2022: €132k
2023: €68k
2018 → 2024
Total assets
€230k▼ 19.3%
2023 · €285k
2018: €601k
2019: €524k
2020: €455k
2021: €323k
2022: €326k
2023: €285k
2018 → 2024
Net result
€-84k▼ 30.2%
2023 · €-65k
2018: €-54k
2019: €-43k
2020: €85k
2021: €-98k
2022: €-7k
2023: €-65k
2018 → 2024
Working capital
€-12k
2023 · €74k
2018: €225k
2019: €173k
2020: €227k
2021: €155k
2022: €138k
2023: €74k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€237k-€139k▼ 41.4%€132k▼ 4.7%€68k▼ 48.8%€-16k
Operating result€94k-€-92k€-2k▲ 98.1%€-42k▼ 2,329%€-85k▼ 102%
Net result€85k-€-98k€-7k▲ 93.4%€-65k▼ 894%€-84k▼ 30.2%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €85k in 2024 against €42k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €230k
Fixed assets
€35k ▼ 34.0%
Current assets
€195k ▼ 15.9%
Key figures and ratios
EBITDA
€-68k▼
2023 · €-21k
Cash flow
€-67k▼
2023 · €-43k
Solvency
-7.1%▼
2023 · 23.8%
Current ratio
0.94▼
2023 · 1.47
Debt to equity
-15.01▼
2023 · 3.20
ROA
-36.6%▼
2023 · -22.7%
Interest coverage
-19.58▼
2023 · -3.26
Debt
€246k▲
2023 · €217k
Debt ≤ 1 year
€206k▲
2023 · €157k
Debt > 1 year
€40k▼
2023 · €60k
Income taxes
€8k▲
2023 · €188
Staff costs
€132k▲
2023 · €101k
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 · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€285k€230k▼
Fixed assets21/28€53k€35k▼
Tangible fixed assets22/27€52k€34k▼
Land and buildings22€31k€22k▼
Plant, machinery and equipment23€6k€4k▼
Leasing and similar rights25€2k€1k▼
Other tangible fixed assets26€14k€7k▼
Financial fixed assets28€899€899=
Current assets29/58€231k€195k▼
Amounts receivable within one year40/41€181k€169k▼
Trade receivables40€165k€159k▼
Other amounts receivable41€16k€10k▼
Cash at bank and in hand54/58€50k€26k▼
Equity and liabilities
Total equity and liabilities10/49€285k€230k▼
Equity10/15€68k€-16k▼
Contributions10/11€19k€19k=
Reserves13€218k€218k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€217k€217k=
Profit (loss) carried forward14€-169k€-253k▼
Amounts payable17/49€217k€246k▲
Amounts payable after more than one year17€60k€40k▼
Financial debts170/4€60k€40k▼
Amounts payable within one year42/48€157k€206k▲
Current portion of amounts payable after more than one year42€21k€22k▲
Trade debts44€13k€49k▲
Suppliers440/4€13k€49k▲
Taxes, remuneration and social security45€188€4k▲
Taxes450/3€188€332▲
Remuneration and social security454/9-€3k
Other amounts payable47/48€122k€131k▲
Income statement
Code20232024
Remuneration, social security and pensions62€101k€132k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€17k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€84k€68k▼
Operating profit (loss)9901€-42k€-85k▼
Financial income75/76B-€14k
Recurring financial income75-€0
Non-recurring financial income76B-€14k
Financial charges65/66B€22k€4k▼
Recurring financial charges65€6k€3k▼
Non-recurring financial charges66B€16k€745▼
Profit (loss) for the period before taxes9903€-64k€-76k▼
Income taxes67/77€188€8k▲
Profit (loss) for the period9904€-65k€-84k▼
Profit (loss) for the period to be appropriated9905€-65k€-84k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-169k€-253k▼
Profit (loss) brought forward from the previous period14P€-105k€-169k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
19-09
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · FIRST BV HARDEN- VOORT 16/3, 2060 ANTWERPEN 6 · event 11-09-2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 342 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-98k ▼215%
Net result drops to €-98k, the lowest in the series.
02-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 124 days late
2020
31-12
Financial
Back to profitnet €85k
Net result €85k after 2 loss-making years.
31-12
Financial
Equity above €200kEq €237k ▲25.7%
Equity rises from €189k to €237k.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
24-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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
Registered office, Antwerpen · 1 establishment unit since 1997
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.
Hardenvoort 162060 AntwerpenGround area
362 m²
Building footprint
218 m²
Volume, LiDAR
2,870 m³
Parcel 11807G0282/00K004, Flanders · tallest building 16.4 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
FIRST
since 19972.083.060.845
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G0282/00K004 | Flanders | 362 m² | 1 · 218 m² | 16.4 m · 4 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 | JAN BRAECKMANS GROTE STEENWEG 417,
2600 BERCHEM (ANTWERPEN) |
11-09-2025 → present |
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Of 275 companies in sector 52241 we hold annual accounts for 212. 108 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
Founded14-05-1997
Fiscal year end31-12
Activities, NACEBEL 2025
52241Warehousing and support activities for transportation
52249Warehousing and support activities for transportation
52250Logistics services
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.