NOVULO
Open bankruptcySummary
A bankruptcy procedure is open for NOVULO according to publications in the Belgian State Gazette. The 2022 annual accounts show negative equity (€-161k) and a net result of €102k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 10-05-2023, 82 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
82 d early
2021
71 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Equity
€-161k▲ 38.9%
2021 · €-263k
2021: €-263k
2022: €-161k▲ +38.9% vs 2021
2021 → 2022
Total assets
€2.67M▲ 467%
2021 · €471k
2021: €471k
2022: €2.67M▲ +467% vs 2021
2021 → 2022
Net result
€102k
2021 · €-283k
2021: €-283k
2022: €102k▲ +136% vs 2021
2021 → 2022
Working capital
€-264k▼ 1.5%
2021 · €-260k
2021: €-260k
2022: €-264k▼ -1.5% vs 2021
2021 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022Trend
Equity€-263k-€-161k▲ 38.9%
2021: €-263k
2022: €-161k▲ +38.9% vs 2021
Operating result€-278k-€114k
2021: €-278k
2022: €114k▲ +141% vs 2021
Net result€-283k-€102k
2021: €-283k
2022: €102k▲ +136% vs 2021
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2022: €114k after a loss of €278k in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €2.67M
Fixed assets
€244k ▲ 42.9%
Current assets
€2.42M ▲ 707%
Key figures and ratios
EBITDA
€145k▲
2021 · €-267k
Cash flow
€134k▲
2021 · €-272k
Solvency
-6.0%▲
2021 · -55.8%
Current ratio
0.90▲
2021 · 0.54
Quick ratio
0.56▲
2021 · 0.28
Debt to equity
-17.61▼
2021 · -2.79
ROA
3.8%▲
2021 · -60.1%
Interest coverage
11.43▲
2021 · -51.99
Debt
€2.83M▲
2021 · €734k
Debt ≤ 1 year
€2.69M▲
2021 · €560k
Debt > 1 year
€124k▼
2021 · €173k
Staff costs
€69k▲
2021 · €24k
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 · 2022 against 2021 · 52 lines
Balance sheet
Code20212022
Assets
Total assets20/58€471k€2.67M▲
Fixed assets21/28€170k€244k▲
Intangible fixed assets21€50k€39k▼
Tangible fixed assets22/27€119k€203k▲
Land and buildings22€100k€153k▲
Plant, machinery and equipment23€18k€34k▲
Furniture and vehicles24€1k€2k▲
Other tangible fixed assets26-€13k
Financial fixed assets28€2k€2k=
Current assets29/58€300k€2.42M▲
Stocks and contracts in progress3€146k€924k▲
Stocks30/36€95k€60k▼
Contracts in progress37€51k€865k▲
Amounts receivable within one year40/41€78k€259k▲
Trade receivables40€70k€259k▲
Other amounts receivable41€8k€0▼
Cash at bank and in hand54/58€71k€1.10M▲
Deferred charges and accrued income490/1€6k€143k▲
Equity and liabilities
Total equity and liabilities10/49€471k€2.67M▲
Equity10/15€-263k€-161k▲
Contributions10/11€20k€20k=
Profit (loss) carried forward14€-283k€-181k▲
Amounts payable17/49€734k€2.83M▲
Amounts payable after more than one year17€173k€124k▼
Financial debts170/4€173k€124k▼
Amounts payable within one year42/48€560k€2.69M▲
Current portion of amounts payable after more than one year42€47k€40k▼
Financial debts43€201k€512▼
Credit institutions430/8€126k€512▼
Other loans439€75k€0▼
Trade debts44€298k€682k▲
Suppliers440/4€298k€682k▲
Advances received on contracts in progress46-€1.81M
Taxes, remuneration and social security45€10k€142k▲
Taxes450/3€4k€134k▲
Remuneration and social security454/9€6k€8k▲
Other amounts payable47/48€5k€12k▲
Accrued charges and deferred income492/3€139€17k▲
Income statement
Code20212022
Remuneration, social security and pensions62€24k€69k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€31k▲
Other operating charges640/8€2k€13k▲
Gross operating margin9900€-241k€227k▲
Operating profit (loss)9901€-278k€114k▲
Financial income75/76B€83€1k▲
Recurring financial income75€83€1k▲
Financial charges65/66B€5k€13k▲
Recurring financial charges65€5k€13k▲
Profit (loss) for the period before taxes9903€-283k€102k▲
Profit (loss) for the period9904€-283k€102k▲
Profit (loss) for the period to be appropriated9905€-283k€102k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-283k€-181k▲
Profit (loss) brought forward from the previous period14P-€-283k
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €24k | €69k | ▲ 192% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €31k | ▲ 179% |
| Other operating charges640/8 | €2k | €13k | ▲ 678% |
| Gross operating margin9900 | €-241k | €227k | ▲ 194% |
| Operating profit (loss)9901 | €-278k | €114k | ▲ 141% |
| Financial income75/76B | €83 | €1k | ▲ 1,623% |
| Recurring financial income75 | €83 | €1k | ▲ 1,623% |
| Financial charges65/66B | €5k | €13k | ▲ 147% |
| Recurring financial charges65 | €5k | €13k | ▲ 147% |
| Profit (loss) for the period before taxes9903 | €-283k | €102k | ▲ 136% |
| Profit (loss) for the period9904 | €-283k | €102k | ▲ 136% |
| Profit (loss) for the period to be appropriated9905 | €-283k | €102k | ▲ 136% |
| Line | 2021 | 2022 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €471k | €2.67M | ▲ 467% |
| Fixed assets21/28 | €170k | €244k | ▲ 42.9% |
| Intangible fixed assets21 | €50k | €39k | ▼ 21.0% |
| Tangible fixed assets22/27 | €119k | €203k | ▲ 70.4% |
| Land and buildings22 | €100k | €153k | ▲ 53.9% |
| Plant, machinery and equipment23 | €18k | €34k | ▲ 86.8% |
| Furniture and vehicles24 | €1k | €2k | ▲ 94.0% |
| Other tangible fixed assets26 | - | €13k | - |
| Financial fixed assets28 | €2k | €2k | = |
| Current assets29/58 | €300k | €2.42M | ▲ 707% |
| Stocks and contracts in progress3 | €146k | €924k | ▲ 532% |
| Stocks30/36 | €95k | €60k | ▼ 37.5% |
| Contracts in progress37 | €51k | €865k | ▲ 1,598% |
| Amounts receivable within one year40/41 | €78k | €259k | ▲ 233% |
| Trade receivables40 | €70k | €259k | ▲ 271% |
| Other amounts receivable41 | €8k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €71k | €1.10M | ▲ 1,452% |
| Deferred charges and accrued income490/1 | €6k | €143k | ▲ 2,498% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €471k | €2.67M | ▲ 467% |
| Equity10/15 | €-263k | €-161k | ▲ 38.9% |
| Contributions10/11 | €20k | €20k | = |
| Profit (loss) carried forward14 | €-283k | €-181k | ▲ 36.2% |
| Amounts payable17/49 | €734k | €2.83M | ▲ 285% |
| Amounts payable after more than one year17 | €173k | €124k | ▼ 28.7% |
| Financial debts170/4 | €173k | €124k | ▼ 28.7% |
| Amounts payable within one year42/48 | €560k | €2.69M | ▲ 380% |
| Current portion of amounts payable after more than one year42 | €47k | €40k | ▼ 14.3% |
| Financial debts43 | €201k | €512 | ▼ 99.7% |
| Credit institutions430/8 | €126k | €512 | ▼ 99.6% |
| Other loans439 | €75k | €0 | ▼ 100% |
| Trade debts44 | €298k | €682k | ▲ 129% |
| Suppliers440/4 | €298k | €682k | ▲ 129% |
| Advances received on contracts in progress46 | - | €1.81M | - |
| Taxes, remuneration and social security45 | €10k | €142k | ▲ 1,375% |
| Taxes450/3 | €4k | €134k | ▲ 3,583% |
| Remuneration and social security454/9 | €6k | €8k | ▲ 38.6% |
| Other amounts payable47/48 | €5k | €12k | ▲ 142% |
| Accrued charges and deferred income492/3 | €139 | €17k | ▲ 12,155% |
| Line | 2021 | 2022 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €-283k | €102k | ▲ 136% |
| + Depreciation and write-downs630 | €11k | €31k | ▲ 179% |
| Operating cash flow (approximation) | €-272k | €134k | ▲ 149% |
| Investment in fixed assets (approximation) | - | €-105k | - |
| Change in cash | - | €1.03M | - |
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
2024
03-07
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · event 27-06-2024
2023
10-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €102k
Net result €102k after one loss-making year.
10-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 71 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 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, Pittem · 2 establishment units since 2021
Ground area
2.4 ha
Building footprint
140 m²
Volume, LiDAR
858 m³
2 parcels, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
2 establishment units
Thijs Vanhoutte
since 20212.314.074.956
NOVULO
since 20212.314.075.055
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011A0285/00F002 | Flanders | 2.4 ha | - | - |
| 36017A0742/00Z000 | Flanders | 949 m² | 1 · 140 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | RIK CRIVITS EZELSTRAAT 25, 8000 BRUGGE- |
27-06-2024 → present |
| Curator | ASTRID LESCOUHIER EZEL-
STRAAT 25, 8000 BRUGGE |
27-06-2024 → present |
Public money · subsidies and aid
Flemish government
2022 to 2024 · 4 entries · 13,113 EUR awarded · 13,114 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | -10,000 EUR | 0 EUR |
| 2023 | 1 | 5,880 EUR | 9,497 EUR |
| 2022 | 2 | 17,233 EUR | 3,617 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Werkbaarheidscheque (stopgezet)
Similar companies · same sector and region
A.C.I.
BE 0458.634.212
Izegem
A.C.N.
BE 0829.935.166
Izegem
Aardig gedacht
BE 0501.827.817
Brugge
ALUBRAND
BE 0720.811.255
Kortrijk
AVASCO INDUSTRIES
BE 0433.026.509
Diksmuide
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 446 companies in sector 31001 we hold annual accounts for 208. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
31001Manufacture of furniture
31002Manufacture of furniture
31004Manufacture of dining room, living room, bedroom and bathroom furniture
31009Manufacture of furniture
68121Development of residential building projects
68122Development of non-residential building projects
43990Other specialised construction activities
Contact
Website
www.novulo-buildings.bePittem
E-mail
info@novulo-buildings.bePittem
Phone
+32 486 29 54 51Pittem
Scores and ratios are computed by Checked and are not a credit decision.