RIGAS
Open bankruptcyA bankruptcy procedure is open for RIGAS according to publications in the Belgian State Gazette; curator: FRANCOISE HANSSENS-ENSCH.
Summary
The 2020 annual accounts show equity of €105k and a net result of €-44k.
Signals
Two signals.
+raises risk
Checked, nothing found (1)
Financials · fiscal year 2020, micro schema
Turnover
€91k▼ 83.7%
2019 · €558k
2018: €526k
2019: €558k▲ +6.0% vs 2018highest in 3 years
2020: €91k▼ -83.7% vs 2019lowest in 3 years
2018 → 2020
EBIT margin
-45.5%▼ 56.7pp
2019 · 11.2%
2018: 2.2%
2019: 11.2%▲ +414% vs 2018highest in 3 years
2020: -45.5%▼ -508% vs 2019lowest in 3 years
2018 → 2020
Net result
€-44k
2019 · €62k
2018: €5k
2019: €62k▲ +1138% vs 2018highest in 3 years
2020: €-44k▼ -171% vs 2019lowest in 3 years
2018 → 2020
Working capital
€156k▲ 3.5%
2019 · €151k
2018: €74klowest in 3 years
2019: €151k▲ +103% vs 2018
2020: €156k▲ +3.5% vs 2019highest in 3 years
2018 → 2020
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201820192020Trend
Turnover€526k-€558k▲ 6.0%€91k▼ 83.7%
2018: €526k
2019: €558k▲ +6.0% vs 2018highest in 3 years
2020: €91k▼ -83.7% vs 2019lowest in 3 years
Equity€88k-€149k▲ 70.3%€105k▼ 29.4%
2018: €88klowest in 3 years
2019: €149k▲ +70.3% vs 2018highest in 3 years
2020: €105k▼ -29.4% vs 2019
Operating result€11k-€62k▲ 445%€-41k
2018: €11k
2019: €62k▲ +445% vs 2018highest in 3 years
2020: €-41k▼ -167% vs 2019lowest in 3 years
Net result€5k-€62k▲ 1,138%€-44k
2018: €5k
2019: €62k▲ +1138% vs 2018highest in 3 years
2020: €-44k▼ -171% vs 2019lowest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2020: a loss of €41k after €62k in 2019, the lowest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €292k
Fixed assets
€42k ▼ 10.6%
Current assets
€250k ▼ 5.3%
Equity and liabilities €292k
Equity
€105k ▼ 29.4%
Debt
€186k ▲ 15.6%
Debt's share of the balance-sheet total rises from 52.0% to 63.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-35k▼
2019 · €72k
Cash flow
€-38k▼
2019 · €71k
Current ratio
2.67▲
2019 · 2.34
Quick ratio
2.54▲
2019 · 2.24
Debt to equity
0.33▲
2019 · 0.33
ROE
-41.7%▼
2019 · 41.3%
ROA
-15.1%▼
2019 · 19.8%
Debt ≤ 1 year
€94k▼
2019 · €113k
Debt > 1 year
€34k▼
2019 · €49k
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 · 2020 against 2019 · 26 lines
Balance sheet
Code20192020
Assets
Total assets20/58€311k€292k▼
Fixed assets21/28€47k€42k▼
Tangible fixed assets22/27€38k€33k▼
Financial fixed assets28€9k€9k=
Current assets29/58€263k€250k▼
Stocks and contracts in progress3€11k€12k▲
Amounts receivable within one year40/41€81k€78k▼
Cash at bank and in hand54/58€171k€159k▼
Equity and liabilities
Total equity and liabilities10/49€311k€292k▼
Equity10/15€149k€105k▼
Contributions10/11€75k€75k=
Reserves13€8k€8k=
Profit (loss) carried forward14€67k€23k▼
Amounts payable17/49€161k€186k▲
Amounts payable after more than one year17€49k€34k▼
Amounts payable within one year42/48€113k€94k▼
Trade debts44€35k€7k▼
Income statement
Code20192020
Turnover70€558k€91k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€6k▼
Gross operating margin9900€216k€-17k▼
Operating profit (loss)9901€62k€-41k▼
Recurring financial charges65€690€2k▲
Profit (loss) for the period before taxes9903€62k€-44k▼
Income taxes67/77€0-
Profit (loss) for the period9904€62k€-44k▼
Profit (loss) for the period to be appropriated9905€62k€-44k▼
Accounts by statement
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Turnover70 | €526k | €558k | €91k | ▼ 83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €10k | €6k | ▼ 38.7% |
| Gross operating margin9900 | €163k | €216k | €-17k | ▼ 108% |
| Operating profit (loss)9901 | €11k | €62k | €-41k | ▼ 167% |
| Recurring financial income75 | €27 | - | - | - |
| Recurring financial charges65 | €4k | €690 | €2k | ▲ 260% |
| Profit (loss) for the period before taxes9903 | €8k | €62k | €-44k | ▼ 171% |
| Income taxes67/77 | €3k | €0 | - | - |
| Profit (loss) for the period9904 | €5k | €62k | €-44k | ▼ 171% |
| Profit (loss) for the period to be appropriated9905 | €5k | €62k | €-44k | ▼ 171% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €117k | €311k | €292k | ▼ 6.1% |
| Fixed assets21/28 | €13k | €47k | €42k | ▼ 10.6% |
| Tangible fixed assets22/27 | €4k | €38k | €33k | ▼ 13.1% |
| Financial fixed assets28 | €9k | €9k | €9k | = |
| Current assets29/58 | €104k | €263k | €250k | ▼ 5.3% |
| Stocks and contracts in progress3 | €4k | €11k | €12k | ▲ 8.9% |
| Amounts receivable within one year40/41 | €20k | €81k | €78k | ▼ 3.8% |
| Cash at bank and in hand54/58 | €63k | €171k | €159k | ▼ 6.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €117k | €311k | €292k | ▼ 6.1% |
| Equity10/15 | €88k | €149k | €105k | ▼ 29.4% |
| Contributions10/11 | €75k | €75k | €75k | = |
| Reserves13 | €8k | €8k | €8k | = |
| Profit (loss) carried forward14 | €5k | €67k | €23k | ▼ 66.0% |
| Amounts payable17/49 | €30k | €161k | €186k | ▲ 15.6% |
| Amounts payable after more than one year17 | - | €49k | €34k | ▼ 29.2% |
| Amounts payable within one year42/48 | €30k | €113k | €94k | ▼ 17.0% |
| Trade debts44 | €7k | €35k | €7k | ▼ 78.9% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €62k | €-44k | ▼ 171% |
| + Depreciation and write-downs630 | €2k | €10k | €6k | ▼ 38.7% |
| Operating cash flow (approximation) | €7k | €71k | €-38k | ▼ 153% |
| Investment in fixed assets (approximation) | - | €-44k | €-1k | ▲ 97.6% |
| Change in cash | - | €107k | €-12k | ▼ 111% |
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
2022
23-09
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 19-09-2022
24-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 208 days late
2021
03-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 215 days late
2020
31-12
Financial
Weakest financial yearnet €-44k
Net result drops to €-44k, the lowest in the series.
2019
31-12
Financial
Highest result since 2018net €62k ▲1,138%
Operating result €62k, net result €62k, both a record.
31-12
Financial
Equity above €100kEq €149k ▲70.3%
2 profitable years in a row build equity to €149k.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 31 days late
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 29 days late
2013
27-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 27 days late
2012
15-05
NBB filing
Annual accounts filed
fiscal year 2011 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Elsene · 1 establishment unit since 1982
Ground area
3,877 m²
Building footprint
1,378 m²
Volume, LiDAR
99,195 m³
2 parcels, Brussels · tallest building 99.0 m, ±27 floors. Linked by address, not a title deed.
406
companies at this address
See who is registered here
1 establishment unit
Grote Markt 36, 1000 Brussel
since 19822.020.324.710
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0769/00S002 | Brussels | 3,724 m² | 1 · 1,306 m² | 99.0 m · 27 fl. |
| 21004A0476/00A000 ProtectedArchitectural ensemble · Site or landscape · MonumentDen Helm - uitbreiding van de bescherming met bepaalde delenSource ↗ |
Brussels | 153 m² | 1 · 72 m² | 18.3 m · 5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | FRANCOISE HANSSENS-ENSCH AVENUE LOUISE 349
BTE 17, 1050 FR BRUXELLES 5 |
19-09-2022 → present |
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 9,511 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded10-02-1982
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.