IETS
Open bankruptcyA bankruptcy procedure is open for IETS according to publications in the Belgian State Gazette; curator: JORIS DE SMET.
Summary
The 2021 annual accounts show negative equity (€-26k) and a net result of €-17k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 31-08-2022, 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.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
31 d late
2020
200 d late
2019
101 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Equity
€-26k▼ 194%
2020 · €-9k
2018: €38k
2019: €5k
2020: €-9k
2018 → 2021
Total assets
€120k▲ 1.8%
2020 · €118k
2018: €58k
2019: €94k
2020: €118k
2018 → 2021
Net result
€-17k▼ 28.3%
2020 · €-13k
2018: €18k
2019: €-33k
2020: €-13k
2018 → 2021
Working capital
€-34k▼ 72.5%
2020 · €-20k
2018: €38k
2019: €-11k
2020: €-20k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€38k-€5k▼ 88.0%€-9k€-26k▼ 194%
Operating result€16k-€-33k€-12k▲ 65.1%€-16k▼ 39.7%
Net result€18k-€-33k€-13k▲ 59.9%€-17k▼ 28.3%
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 €16k in 2021 against €12k in 2020; the loss grows.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €120k
Fixed assets
€8k ▼ 26.8%
Current assets
€112k ▲ 4.7%
Key figures and ratios
EBITDA
€-12k▼
2020 · €-7k
Cash flow
€-13k▼
2020 · €-9k
Solvency
-21.6%▼
2020 · -7.5%
Current ratio
0.77▼
2020 · 0.84
Quick ratio
0.51▼
2020 · 0.55
Debt to equity
-5.62
ROA
-14.3%▼
2020 · -11.3%
Interest coverage
-12.02
Debt
€146k▲
2020 · €127k
Debt ≤ 1 year
€146k▲
2020 · €127k
Income taxes
€81▲
2020 · €77
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 · 2021 against 2020 · 39 lines
Balance sheet
Code20202021
Assets
Total assets20/58€118k€120k▲
Fixed assets21/28€11k€8k▼
Tangible fixed assets22/27€11k€8k▼
Plant, machinery and equipment23-€2k
Furniture and vehicles24-€6k
Current assets29/58€107k€112k▲
Stocks and contracts in progress3€38k€38k=
Stocks30/36-€38k
Amounts receivable within one year40/41€68k€74k▲
Trade receivables40-€74k
Cash at bank and in hand54/58€722-
Equity and liabilities
Total equity and liabilities10/49€118k€120k▲
Equity10/15€-9k€-26k▼
Contributions10/11-€12k
Reserves13€2k€2k=
Non-distributable reserves130/1-€2k
Reserves not available under the articles1311-€2k
Profit (loss) carried forward14€-23k€-40k▼
Amounts payable17/49€127k€146k▲
Amounts payable within one year42/48€127k€146k▲
Financial debts43-€100
Credit institutions430/8-€100
Trade debts44€22k€27k▲
Suppliers440/4-€27k
Taxes, remuneration and social security45-€3k
Taxes450/3-€3k
Other amounts payable47/48-€116k
Income statement
Code20202021
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8-€300
Gross operating margin9900€-6k€-11k▼
Operating profit (loss)9901€-12k€-16k▼
Financial charges65/66B-€960
Recurring financial charges65€2k€960▼
Profit (loss) for the period before taxes9903€-13k€-17k▼
Income taxes67/77€77€81▲
Profit (loss) for the period9904€-13k€-17k▼
Profit (loss) for the period to be appropriated9905€-13k€-17k▼
Appropriation of the result
Profit (loss) to be appropriated9906-€-40k
Profit (loss) brought forward from the previous period14P-€-23k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2022
28-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · IETS BV BRANDSTRAAT 37/B, 9830 SINT-MARTENS-LATEM · event 23-12-2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
16-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 200 days late
2020
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
31-12
Financial
Weakest financial yearnet €-33k ▼288%
Net result drops to €-33k, the lowest in the series.
26-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 118 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
2017
11-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 42 days late
2016
12-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 73 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
2014
19-05
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
04-07
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated 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 2001
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
575 m²
Parcel 44064B0032/00Y006, Flanders. Linked by address, not a title deed.
1 establishment unit
Establishment
since 20012.101.404.832
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0032/00Y006 | Flanders | 575 m² | - | - |
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 | JORIS DE SMET BRUUL 27, 9630 11 ZWALM- |
23-12-2022 → present |
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Of 1,257 companies in sector 90399 we hold annual accounts for 200. 69 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 (pre-2019)
Founded09-07-2001
Fiscal year end31-12
Activities, NACEBEL 2025
90399Other support activities for arts and performing arts
82300Organisation of conventions and trade shows
90201Performing arts by independent artists
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.