Summary
Conclusion
the dossier summarised in one paragraphA bankruptcy procedure is open for NOVALON according to publications in the Belgian State Gazette. The file additionally contains 2 judicial reorganisations. The 2022 annual accounts show equity of €9.22M and a net result of €-28.09M.
Based on the State Gazette, CBE and 5 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneBankruptcy 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
3 events31-07-2024
Bankruptcy
Opening
24-06-2024
Judicial reorganisation
Extension
25-04-2024
Judicial reorganisation
Opening
Signals
Insufficient current data: the most recent filed accounts (financial year 2022) are too old to derive current signals.
Trust signals
2 signalsKBO register: special legal situation
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 administrative flags
Financials
Turnover€14.22M+246.3%
EBIT margin-143.8%+610.8pp
Net result€-28.09M+14.0%
Working capital€-12.42M+87.3%
Directors2
Annual accounts & ratios
Source: NBB · 2022Annual accounts filed on 24-07-2023 with the NBB · fiscal year 2022 · volledig
Sector comparison
Fiscal year 2022 · NACE 21 · compared across all schema types (micro, abbreviated and full combined)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 25.2% | 45.8% | |
| Net result | €-28.09M | €-51k | |
| Equity | €9.22M | €262k | |
| Total assets | €36.58M | €2.24M |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€14.22M
+246.3%
far above sector median
€-15.92M
+44.1%
far below sector median
€-28.09M
+14.0%
far below sector median
€-23.57M
+21.9%
far below sector median
€36.58M
+1.5%
far above sector median
€9.22M
-
far above sector median
€-12.42M
+87.3%
far below sector median
5
0.0%
+85% vs sector
€407k
+6.8%
+110% vs sector
€-100k
-204.8%
far below sector median
€27.36M
-75.7%
far above sector median
€25.36M
-76.7%
far above sector median
€2.00M
-50.0%
far above sector median
0.51
+389.5%
-72% vs sector
0.28
+480.5%
-70% vs sector
25.2%
-
-43% vs sector
2.97
-
+137% vs sector
-304.7%
-
far below sector median
-76.8%
+15.2%
far below sector median
-197.6%
+75.2%
+28% vs sector
-112.0%
+83.9%
+51% vs sector
-2.05
+87.4%
+83% vs sector
Figures by fiscal year
| Fiscal year | 2022 |
|---|---|
| Revenue | €14.22M |
| EBITDA | €-15.92M |
| Net profit | €-28.09M |
| Cash flow | €-23.57M |
| Staff costs | €407k |
| Income taxes | €-100k |
| Dividends | - |
| Total assets | €36.58M |
| Equity | €9.22M |
| Debt | €27.36M |
| of which ≤ 1y | €25.36M |
| of which > 1y | €2.00M |
| Working capital | €-12.42M |
| Employees (FTE) | 5.0 |
Ratios (computed)
| 2022 | |
|---|---|
| Current ratio | 0.51 |
| Quick ratio | 0.28 |
| Working capital ratio | -33.9% |
| Solvency | 25.2% |
| Debt / equity | 2.97 |
| Long-term debt ratio | 0.22 |
| Interest coverage | -2.05 |
| Gross margin | 49.3% |
| Net margin | -197.6% |
| ROA | -76.8% |
| ROE | -304.7% |
| EBITDA margin | -112.0% |
| Days sales outstanding | 121d |
| Days payable outstanding | 946d |
| Inventory turnover | 1.24 |
| Days inventory (DSI) | 295d |
Balance-sheet composition 2022
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2022 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €36.58M |
| Fixed assets | 21/28 | €23.64M |
| Intangible fixed assets | 21 | €23.57M |
| Tangible fixed assets | 22/27 | €64k |
| Financial fixed assets | 28 | €91 |
| Current assets | 29/58 | €12.94M |
| Stocks & contracts in progress | 3 | €5.83M |
| Amounts receivable within one year | 40/41 | €6.60M |
| Cash & bank | 54/58 | €18k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €36.58M |
| Equity | 10/15 | €9.22M |
| Contributions / capital | 10/11 | €35.63M |
| Reserves | 13 | €6k |
| Accumulated profits (losses) | 14 | €-28.09M |
| Amounts payable | 17/49 | €27.36M |
| Amounts payable after one year | 17 | €2.00M |
| Amounts payable within one year | 42/48 | €25.36M |
| Trade debts payable within one year | 44 | €18.68M |
| Income statement | ||
| Turnover | 70 | €14.22M |
| Operating result | 9901 | €-20.45M |
| Financial income | 75 | €223k |
| Financial charges | 65 | €7.97M |
| Result before taxes | 9903 | €-28.19M |
| Income taxes | 67/77 | €-100k |
| Net result for the period | 9904 | €-28.09M |
| Result to be appropriated | 9905 | €-28.09M |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2022 · computed0
/ 100
Critical
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Directors
Directors & mandates
No directors on record
No directors or mandates are on record for this company in the CBE. Not every legal form publishes directors; if they appear in the Belgian State Gazette later, they show up here automatically.
Insolvency mandates
2 mandates| Role | Name | Tenure | Source |
|---|---|---|---|
| Curator | YVES GODFROID RUE DES AUGUSTINS 32,
4000 LIEGE 1 |
25-07-2024 → present | Belgian State Gazette |
| Curator | FRANCOIS MINON RUE DES AUGUSTINS 32, 4000 LIEGE 1- francois.minon@henry-
mersch.be |
25-07-2024 → present | Belgian State Gazette |
Legal Structure
| NACE primary | Vervaardiging van overige farmaceutische producten(21209) |
| Legal form | Public limited company(014) |
| Incorporation | 03-11-2005 |
| Status | Active |
| Postal code | 4000 |
| First BS signal | 25-04-2024 |
| Latest BS signal | 31-07-2024 |
Structure & network
Company structure: linked entities
2 linked entitiesMandates
↔
1
of these mandate-holders are active on other cases, click any red card to open that KBO.
Locations & real estate
Establishment units
2 locationsNOVALON
since 20122.209.146.591
NOVALON
since 20172.266.367.782
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area126 m²
Buildings1
Building footprint43 m²
Volume (LiDAR)649 m³
Tallest building16.9 m · ±5 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62810C0909/00G000 | Wallonia | 126 m² | 1 · 43 m² | 16.9 m · 5 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
3 events from the State Gazette31-07-2024
Bankruptcy
Opening
24-06-2024
Judicial reorganisation
Extension
25-04-2024
Judicial reorganisation
Opening
Time machine: BS events + macro context
2021-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
19 acts Capital history · 4
06-01-2023
v3.2
26-08-2019
v3.2
15-01-2018
v3.2
27-11-2015
v3.2
All acts · 19
updated 2 years ago
2024
05-07-2024 2 resigning
03-04-2024 3 directors appointed, 1 resigning
- C2M4E SRL, Bestuurder
- Xavier Paoli, Dagelijks bestuur
- CMM&C Srl, Dagelijks bestuur
- Bronzet Management Srl, Gedelegeerd bestuurder
Summary:
v3.2
2023
07-12-2023 2 directors appointed, 2 resigning
- Bronzet Management Srl, Bestuurder
- Bronzet Management Srl, Gedelegeerd bestuurder
- David Horn Solomon, Bestuurder
- David Horn Solomon, Gedelegeerd bestuurder
Summary:
v3.2
31-07-2023 2 directors appointed, 1 resigning
- David Horn Solomon, Bestuurder
- David Horn Solomon, Gedelegeerd bestuurder
- Leon Van Rompay, Bestuurder
Summary:
v3.2
06-01-2023 1 director appointed, 1 resigning
06-01-2023 Capital increase of €114,021,734 to €120,519,538.25
- €6.497.804,25 → €120.519.538,25
- Inbreng in natura · Apport en nature
Summary:
v3.2
2022
23-08-2022 2 directors appointed, 1 resigning
- SRL Alius Modi, Bestuurder
- Van Rompay Management BV, Gedelegeerd bestuurder
- Yima SRL, Bestuurder
Summary:
v3.2
25-01-2022 Cédric ANTONELLI appointed as commissaire
2021
05-07-2021 Articles of association amended
Summary:
v3.2
07-05-2021 2 directors appointed, 2 resigning
- Van Rompay Management BV, Bestuurder
- Van Rompay Management BV, Gedelegeerd bestuurder
- CG Cube SA, Bestuurder
- Yima SRL, Gedelegeerd bestuurder
Summary:
v3.2
2019
26-08-2019 Capital increase of €76,484.20 to €137,984.20
27-06-2019 Publication in the Belgian Official Gazette, Miscellaneous
Summary:
proposalNotary:
François Fomieri · Liège
2018
29-08-2018 Cédric ANTONELLI appointed as commissaire
15-01-2018 Capital increase of €8,000,000 to €8,061,500
2017
06-04-2017 4 directors appointed, 2 resigning
- SPRL YIMA, Bestuurder
- Francesco Fornieri, Représentant permanent administrateur
- SA CG Cube, Bestuurder
- Guy Debruyne, Représentant permanent administrateur
- Jean-Michel Foidart, Bestuurder
- SPRL SVR INVEST, Bestuurder
Summary:
v3.2
2016
03-06-2016 Publication in the Belgian Official Gazette, Miscellaneous
Summary:
proposalNotary:
Joris De Wolf · Liège
08-01-2016 2 directors appointed
- Felix Fank, Commissaire
- SCRL BDO Réviseurs d'Entreprises, Commissaire
Summary:
v3.2
2015
27-11-2015 Capital increase of €411,910.54 to €1,486,310.54
2011
13-07-2011 4 directors appointed, 3 resigning
- SPRL SVR INVEST, Bestuurder
- SA UTERON PHARMA, Gedelegeerd bestuurder
- SPRL MAJOCEPI, Bestuurder
- SA UTERON PHARMA, Dagelijks bestuur
- François FORNIERI, Bestuurder
- SPRL YIMA, Bestuurder
- SPRL MAJOCЕRI, Bestuurder
Summary:
v3.2
Analysis
Snowflake analysis
financial profile on 5 axes19
/ 100
Fragile profile, watch health in particular.
Health
0
Profitability
0
Solvency
27
Growth
68
Stability
0
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verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Vervaardiging van overige farmaceutische producten21209Vervaardiging van overige farmaceutische producten21209Vervaardiging van overige farmaceutische preparaten24422
Primary activity highlighted.
Names & trade names
| Legal nameFR | NOVALON |
Registered office
Rue Saint-Georges 5
4000 Liège, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.