RACK SYSTEM
Open bankruptcyA bankruptcy procedure is open for RACK SYSTEM according to publications in the Belgian State Gazette; curator: BERNARD GROFILS.
Summary
The file additionally contains 4 judicial reorganisation notices.
Inactive; last annual accounts for fiscal year 2023.
Signals
Two 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 31-12-2023 was due by 31-07-2024 and was filed on 26-08-2024, 26 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 · 1 filingDeviation from the deadline
2023
26 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, abbreviated schema
Turnover
€162k
EBIT margin
-133.6%
Net result
€-216k
Working capital
€-306k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Key figures and ratios
EBITDA
€-208k
Cash flow
€-208k
Interest coverage
-835.59
Debt
€308k
Debt ≤ 1 year
€308k
Staff costs
€206k
Ratios withheld: a balance sheet total of €2k is too small for a meaningful ratio.
Filed annual accounts As filed with the NBB · 2023 · 34 lines
Balance sheet
Code2023
Assets
Total assets20/58€2k
Current assets29/58€2k
Cash at bank and in hand54/58€2k
Equity and liabilities
Total equity and liabilities10/49€2k
Equity10/15€-306k
Contributions10/11€6k
Capital10€6k
Issued capital100€6k
Profit (loss) carried forward14€-312k
Amounts payable17/49€308k
Amounts payable within one year42/48€308k
Trade debts44€36k
Suppliers440/4€36k
Taxes, remuneration and social security45€268k
Taxes450/3€144k
Remuneration and social security454/9€124k
Other amounts payable47/48€4k
Income statement
Code2023
Turnover70€162k
Goods, raw materials, services and sundry goods60/61€132k
Remuneration, social security and pensions62€206k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€15k
Other operating charges640/8€21k
Gross operating margin9900€34k
Operating profit (loss)9901€-216k
Financial income75/76B€18
Recurring financial income75€18
Financial charges65/66B€249
Recurring financial charges65€249
Profit (loss) for the period before taxes9903€-216k
Profit (loss) for the period9904€-216k
Profit (loss) for the period to be appropriated9905€-216k
Appropriation of the result
Profit (loss) to be appropriated9906€-312k
Profit (loss) brought forward from the previous period14P€-96k
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 |
|---|---|
| Turnover70 | €162k |
| Goods, raw materials, services and sundry goods60/61 | €132k |
| Remuneration, social security and pensions62 | €206k |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €15k |
| Other operating charges640/8 | €21k |
| Gross operating margin9900 | €34k |
| Operating profit (loss)9901 | €-216k |
| Financial income75/76B | €18 |
| Recurring financial income75 | €18 |
| Financial charges65/66B | €249 |
| Recurring financial charges65 | €249 |
| Profit (loss) for the period before taxes9903 | €-216k |
| Profit (loss) for the period9904 | €-216k |
| Profit (loss) for the period to be appropriated9905 | €-216k |
| Line | 2023 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €2k | |
| Current assets29/58 | €2k | |
| Cash at bank and in hand54/58 | €2k | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €2k | |
| Equity10/15 | €-306k | |
| Contributions10/11 | €6k | |
| Capital10 | €6k | |
| Issued capital100 | €6k | |
| Profit (loss) carried forward14 | €-312k | |
| Amounts payable17/49 | €308k | |
| Amounts payable within one year42/48 | €308k | |
| Trade debts44 | €36k | |
| Suppliers440/4 | €36k | |
| Taxes, remuneration and social security45 | €268k | |
| Taxes450/3 | €144k | |
| Remuneration and social security454/9 | €124k | |
| Other amounts payable47/48 | €4k | |
| Line | 2023 |
|---|---|
| Profit (loss) for the period9904 | €-216k |
| + Depreciation and write-downs630 | €8k |
| Operating cash flow (approximation) | €-208k |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 26 days late
01-07
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Charleroi · event 24-06-2024
2023
27-09
Judicial reorganisation
Extension
Tribunal de l’entreprise du Hainaut · court-supervised transfer · event 21-09-2023
28-06
Judicial reorganisation
Extension
Tribunal de l’entreprise du Hainaut · court-supervised transfer · event 22-06-2023
08-05
Judicial reorganisation
Transfer under judicial authority
Tribunal de l’entreprise du Hainaut · court-supervised transfer
25-01
Judicial reorganisation
Opening
Tribunal de l’entreprise du Hainaut · collective agreement · event 20-01-2023
SignalNBB filing
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BERNARD GROFILS RUE DE ROBIANO 62,
7130 BINCHE- .
Date provisoire de cessation de paiement : 24/06/2024 |
24-06-2024 → present |