Septem
Open bankruptcyA bankruptcy procedure is open for Septem according to publications in the Belgian State Gazette; curator: TONY BELLAVIA.
Summary
The 2024 annual accounts show negative equity (€-105k) and a net result of €-417k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-105k
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€293k▲ 118%
2023 · €135k
2018: €483k
2019: €502k
2020: €15k
2021: €27k
2022: €82k
2023: €135k
2018 → 2024
EBIT margin
-140.8%▼ 67.6pp
2023 · -73.2%
2018: -12.6%
2019: -8.5%
2020: 197.1%
2021: 164.6%
2022: -71.4%
2023: -73.2%
2018 → 2024
Net result
€-417k▼ 312%
2023 · €-101k
2018: €-35k
2019: €-19k
2020: €52k
2021: €69k
2022: €-36k
2023: €-101k
2018 → 2024
Working capital
€-338k
2023 · €154k
2018: €190k
2019: €175k
2020: €234k
2021: €318k
2022: €278k
2023: €154k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€15k-€27k▲ 80.0%€82k▲ 210%€135k▲ 63.4%€293k▲ 118%
Equity€367k-€428k▲ 16.6%€386k▼ 9.9%€338k▼ 12.4%€-105k
Operating result€29k-€44k▲ 50.3%€-59k€-98k▼ 67.5%€-413k▼ 319%
Net result€52k-€69k▲ 31.9%€-36k€-101k▼ 179%€-417k▼ 312%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €413k in 2024 against €98k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €323k
Fixed assets
€234k ▲ 27.0%
Current assets
€89k ▼ 76.7%
Key figures and ratios
EBITDA
€-357k▼
2023 · €-58k
Cash flow
€-361k▼
2023 · €-61k
Solvency
-32.6%▼
2023 · 59.6%
Current ratio
0.21▼
2023 · 1.67
Quick ratio
0.21▼
2023 · 1.67
Debt to equity
-4.06▼
2023 · 0.68
ROA
-129.1%▼
2023 · -17.8%
Interest coverage
-69.90▼
2023 · -18.35
Debt
€429k▲
2023 · €229k
Debt ≤ 1 year
€428k▲
2023 · €229k
Income taxes
€226▲
2023 · €219
Staff costs
€723k▲
2023 · €542k
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 · 2024 against 2023 · 46 lines
Balance sheet
Code20232024
Assets
Total assets20/58€567k€323k▼
Fixed assets21/28€184k€234k▲
Intangible fixed assets21€2k€1k▼
Tangible fixed assets22/27€183k€233k▲
Furniture and vehicles24€159k€197k▲
Other tangible fixed assets26€23k€35k▲
Current assets29/58€383k€89k▼
Stocks and contracts in progress3€1k€1k=
Stocks30/36€1k€1k=
Amounts receivable within one year40/41€247k€51k▼
Trade receivables40€25k€30k▲
Other amounts receivable41€222k€21k▼
Cash at bank and in hand54/58€74k€12k▼
Deferred charges and accrued income490/1€60k€25k▼
Equity and liabilities
Total equity and liabilities10/49€567k€323k▼
Equity10/15€338k€-105k▼
Contributions10/11€6k€6k=
Capital10€6k€6k=
Profit (loss) carried forward14€199k€-284k▼
Investment grants15€133k€172k▲
Amounts payable17/49€229k€429k▲
Amounts payable within one year42/48€229k€428k▲
Trade debts44€133k€158k▲
Suppliers440/4€133k€158k▲
Taxes, remuneration and social security45€95k€238k▲
Taxes450/3-€25k
Remuneration and social security454/9€95k€214k▲
Accrued charges and deferred income492/3€22€947▲
Income statement
Code20232024
Turnover70€135k€293k▲
Goods, raw materials, services and sundry goods60/61€551k€674k▲
Remuneration, social security and pensions62€542k€723k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€40k€56k▲
Non-recurring operating charges66A€7k€1k▼
Gross operating margin9900€491k€368k▼
Operating profit (loss)9901€-98k€-413k▼
Financial income75/76B€732€765▲
Recurring financial income75€732€765▲
Financial charges65/66B€3k€5k▲
Recurring financial charges65€3k€5k▲
Profit (loss) for the period before taxes9903€-101k€-417k▼
Income taxes67/77€219€226▲
Profit (loss) for the period9904€-101k€-417k▼
Profit (loss) for the period to be appropriated9905€-101k€-417k▼
Appropriation of the result
Profit (loss) to be appropriated9906€199k€-284k▼
Profit (loss) brought forward from the previous period14P€300k€134k▼
Social balance
Average headcount (FTE)908710.313.2▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
27-04
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Mons · SEPTEM ASBL GRAND’PLACE 37, 7330 SAINT-GHISLAIN · event 20-04-2026
19-03
State Gazette act
Resignations: DEL BORRELLO Mauro, GRANDJEAN Benoît and DI NANNO MicheleAppointments: WATTECAMPS Philippe, WAMBERCHIES Philippe and 2 others8 facts ▸
State Gazette act
Resignations: DEL BORRELLO Mauro, GRANDJEAN Benoît and DI NANNO Michele
Appointments: WATTECAMPS Philippe, WAMBERCHIES Philippe and 2 others8 facts ▸
- General meeting, 17/09/2025
- Director resignation, DEL BORRELLO Mauro (day-to-day manager)
- Director resignation, GRANDJEAN Benoît (director)
- Director resignation, DI NANNO Michele (director)
- Director appointment, WATTECAMPS Philippe (director)
- Director appointment, WAMBERCHIES Philippe (director)
- Director appointment, PITZUS Angelo (director)
- Director appointment, BRASSART Julien (director)
2025
08-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 100 days late
08-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 465 days late
14-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 592 days late
2024
31-12
Financial
Weakest financial yearnet €-417k
Net result drops to €-417k, the lowest in the series.
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €69k ▲31.9%
Operating result €44k, net result €69k, both a record.
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 5 days late
2020
31-12
Financial
Back to profitnet €52k
Net result €52k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
31-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
18-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
03-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
SignalFinancial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26039481). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
BRASSART Julien
CurrentDirector · since 19-03-2026
PITZUS Angelo
CurrentDirector · since 19-03-2026
WAMBERCHIES Philippe
CurrentDirector · since 19-03-2026
WATTECAMPS Philippe
CurrentDirector · since 19-03-2026
19-03-2026
BRASSART Julien: Appointed as Director
19-03-2026
PITZUS Angelo: Appointed as Director
19-03-2026
WAMBERCHIES Philippe: Appointed as Director
19-03-2026
WATTECAMPS Philippe: Appointed as Director
19-03-2026
DEL BORRELLO Mauro: Resigned as Day-to-day manager
Location & real-estate footprint
Registered office, Saint-Ghislain · 1 establishment unit since 2008
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.
Grand'Place(SG) 377330 Saint-GhislainGround area
304 m²
Building footprint
148 m²
Volume, LiDAR
1,649 m³
Parcel 53070B0024/00G017, Wallonia · tallest building 13.1 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Foyer culturel de Saint-Ghislain
since 20082.196.567.275
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53070B0024/00G017indicative | Wallonia | 304 m² | 1 · 148 m² | 13.1 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 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 | TONY BELLAVIA AVENUE DES EXPOSITIONS, 8A,
7000 MONS- .
Date provisoire de cessation de paiement : 20/04/2026 |
20-04-2026 → present |
Structure & network
Connections & network
2 connected companiesLinked via shared directors
via WAMBERCHIES Philippe · Director
→
via BRASSART Julien · Director
former→
Public money · subsidies and aid
Wallonia-Brussels Federation
2023 to 2025 · 22 entries · 796,621 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 11 | 290,011 EUR |
| 2024 | 4 | 254,550 EUR |
| 2023 | 7 | 252,060 EUR |
Budget allocations
Conventions et contrats programmes indexés dans le domaine des centres culturels
Subventions de toute nature allouées en vue de la coordination des matières transversales, de l'information, du rayonnement, de la notoriété et de la promotion de la Communauté française en Belgique et à l'étranger
Dépenses de toute nature relatives au fonctionnement et aux frais divers liés aux métiers au sein de l'administration de la culture
Aides ponctuelles dans le domaine transversal
Mise en œuvre du PECA
Recognitions · licences · registrations
Food safety, FASFC
1 siteSaint-Ghislain2.196.567.275
Similar companies · same sector, comparable size
CULTUUROVERLEG MEETJESLAND
BE 0867.378.552
Eeklo · Eq €338k
vzw cultuurcentrum Mol
BE 0456.113.497
Mol · Eq €336k
Ferme de Martinrou
BE 0422.259.806
Fleurus · Eq €335k
CULTUURCENTRUM STROMBEEK/GRIMBERGEN
BE 0408.473.433
Grimbergen · Eq €331k
Centre culturel de Dison A.S.B.L.
BE 0418.459.582
Dison · Eq €351k
Of 641 companies in sector 90312 we hold annual accounts for 227. 173 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 formNon-profit association
Founded07-11-1991
Fiscal year end31-12
Activities, NACEBEL 2025
90312Arts creation and performing arts activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.septem.stghislain.be
E-mail:administration@septem.stghislain.be