TIMELESS DEVELOPERS
Open bankruptcyA bankruptcy procedure is open for TIMELESS DEVELOPERS according to publications in the Belgian State Gazette; curator: PETER HECHTERMANS.
Summary
The 2022 annual accounts show equity of €36k and a net result of €-2k.
Signals
Three 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 31-12-2022 was due by 31-07-2023 and was filed on 29-09-2023, 60 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
60 d late
2021
60 d late
2020
30 d late
2019
109 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€36k▼ 5.9%
2021 · €39k
2018: €-833klowest in 5 years
2019: €-641k▲ +23.0% vs 2018
2020: €38k▲ +106% vs 2019
2021: €39k▲ +1.4% vs 2020highest in 5 years
2022: €36k▼ -5.9% vs 2021
2018 → 2022
Total assets
€5.76M▲ 4.3%
2021 · €5.52M
2018: €790k
2019: €494k▼ -37.5% vs 2018lowest in 5 years
2020: €2.97M▲ +502% vs 2019
2021: €5.52M▲ +85.8% vs 2020
2022: €5.76M▲ +4.3% vs 2021highest in 5 years
2018 → 2022
Net result
€-2k
2021 · €549
2018: €135k
2019: €192k▲ +42.2% vs 2018
2020: €679k▲ +254% vs 2019highest in 5 years
2021: €549▼ -99.9% vs 2020
2022: €-2k▼ -513% vs 2021lowest in 5 years
2018 → 2022
Working capital
€24k▼ 4.3%
2021 · €25k
2018: €746khighest in 5 years
2019: €-653k▼ -188% vs 2018lowest in 5 years
2020: €22k▲ +103% vs 2019
2021: €25k▲ +13.8% vs 2020
2022: €24k▼ -4.3% vs 2021
2018 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Equity€-833k-€-641k▲ 23.0%€38k€39k▲ 1.4%€36k▼ 5.9%
2018: €-833klowest in 5 years
2019: €-641k▲ +23.0% vs 2018
2020: €38k▲ +106% vs 2019
2021: €39k▲ +1.4% vs 2020highest in 5 years
2022: €36k▼ -5.9% vs 2021
Operating result€103k-€298k▲ 190%€773k▲ 159%€35k▼ 95.5%€27k▼ 21.7%
2018: €103k
2019: €298k▲ +190% vs 2018
2020: €773k▲ +159% vs 2019highest in 5 years
2021: €35k▼ -95.5% vs 2020
2022: €27k▼ -21.7% vs 2021lowest in 5 years
Net result€135k-€192k▲ 42.2%€679k▲ 254%€549▼ 99.9%€-2k
2018: €135k
2019: €192k▲ +42.2% vs 2018
2020: €679k▲ +254% vs 2019highest in 5 years
2021: €549▼ -99.9% vs 2020
2022: €-2k▼ -513% vs 2021lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2022 is 22% below 2021 and is the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €5.76M
Fixed assets
€12k ▼ 8.8%
Current assets
€5.75M ▲ 4.3%
Equity and liabilities €5.76M
Equity
€36k ▼ 5.9%
Debt
€5.72M ▲ 4.3%
Debt's share of the balance-sheet total rises from 99.3% to 99.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€28k▼
2021 · €37k
Cash flow
€-1k▼
2021 · €3k
Current ratio
1.00=
2021 · 1.00
Quick ratio
0.32▼
2021 · 0.59
ROE
-6.2%▼
2021 · 1.4%
ROA
0.0%▼
2021 · 0.0%
Interest coverage
0.91▼
2021 · 1.12
Debt ≤ 1 year
€5.72M▲
2021 · €5.48M
Income taxes
€3k▼
2021 · €3k
A ratio outside any meaningful range has been withheld (balance sheet total €5.76M, equity €36k).
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 · 45 lines
Balance sheet
Code20212022
Assets
Total assets20/58€5.52M€5.76M▲
Fixed assets21/28€14k€12k▼
Tangible fixed assets22/27€10k€9k▼
Plant, machinery and equipment23€7k€6k▼
Other tangible fixed assets26€3k€3k=
Financial fixed assets28€3k€3k=
Current assets29/58€5.51M€5.75M▲
Stocks and contracts in progress3€2.27M€3.92M▲
Contracts in progress37€2.27M€3.92M▲
Amounts receivable within one year40/41€3.23M€1.82M▼
Trade receivables40€3.14M€1.68M▼
Other amounts receivable41€96k€132k▲
Cash at bank and in hand54/58€142€5k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€5.52M€5.76M▲
Equity10/15€39k€36k▼
Contributions10/11€50k€50k=
Reserves13€189k€189k=
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Tax-exempt reserves132€49k€49k=
Distributable reserves133€135k€135k=
Profit (loss) carried forward14€-201k€-203k▼
Amounts payable17/49€5.48M€5.72M▲
Amounts payable within one year42/48€5.48M€5.72M▲
Current portion of amounts payable after more than one year42€2.46M€3.54M▲
Trade debts44€2.88M€2.17M▼
Suppliers440/4€2.88M€2.17M▼
Taxes, remuneration and social security45€141k€1k▼
Taxes450/3€141k€1k▼
Other amounts payable47/48-€7k
Income statement
Code20212022
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€1k▼
Other operating charges640/8€42k€24k▼
Gross operating margin9900€80k€53k▼
Operating profit (loss)9901€35k€27k▼
Financial income75/76B€2k€4k▲
Recurring financial income75€2k€4k▲
Financial charges65/66B€33k€31k▼
Recurring financial charges65€33k€31k▼
Profit (loss) for the period before taxes9903€3k€288▼
Income taxes67/77€3k€3k▼
Profit (loss) for the period9904€549€-2k▼
Profit (loss) for the period to be appropriated9905€549€-2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-201k€-203k▼
Profit (loss) brought forward from the previous period14P€-201k€-201k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €640 | €2k | €2k | €2k | €1k | ▼ 52.4% |
| Other operating charges640/8 | - | - | - | €42k | €24k | ▼ 43.1% |
| Gross operating margin9900 | €120k | €302k | €777k | €80k | €53k | ▼ 34.0% |
| Operating profit (loss)9901 | €103k | €298k | €773k | €35k | €27k | ▼ 21.7% |
| Financial income75/76B | - | - | - | €2k | €4k | ▲ 125% |
| Recurring financial income75 | €125k | €619 | €2k | €2k | €4k | ▲ 125% |
| Financial charges65/66B | - | - | - | €33k | €31k | ▼ 6.7% |
| Recurring financial charges65 | €93k | €107k | €95k | €33k | €31k | ▼ 6.7% |
| Profit (loss) for the period before taxes9903 | €135k | €192k | €679k | €3k | €288 | ▼ 91.1% |
| Income taxes67/77 | - | - | - | €3k | €3k | ▼ 5.1% |
| Profit (loss) for the period9904 | €135k | €192k | €679k | €549 | €-2k | ▼ 513% |
| Profit (loss) for the period to be appropriated9905 | €135k | €192k | €679k | €549 | €-2k | ▼ 513% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €790k | €494k | €2.97M | €5.52M | €5.76M | ▲ 4.3% |
| Fixed assets21/28 | €4k | €12k | €16k | €14k | €12k | ▼ 8.8% |
| Tangible fixed assets22/27 | €219 | €9k | €13k | €10k | €9k | ▼ 11.8% |
| Plant, machinery and equipment23 | - | - | - | €7k | €6k | ▼ 17.7% |
| Other tangible fixed assets26 | - | - | - | €3k | €3k | = |
| Financial fixed assets28 | €3k | €3k | €3k | €3k | €3k | = |
| Current assets29/58 | €786k | €482k | €2.96M | €5.51M | €5.75M | ▲ 4.3% |
| Stocks and contracts in progress3 | €435k | €44k | €1.40M | €2.27M | €3.92M | ▲ 72.5% |
| Contracts in progress37 | - | - | - | €2.27M | €3.92M | ▲ 72.5% |
| Amounts receivable within one year40/41 | €14k | €93k | €1.46M | €3.23M | €1.82M | ▼ 43.9% |
| Trade receivables40 | - | - | - | €3.14M | €1.68M | ▼ 46.4% |
| Other amounts receivable41 | - | - | - | €96k | €132k | ▲ 37.4% |
| Cash at bank and in hand54/58 | €1k | €4k | €101k | €142 | €5k | ▲ 3,526% |
| Deferred charges and accrued income490/1 | - | - | - | €2k | €4k | ▲ 124% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €790k | €494k | €2.97M | €5.52M | €5.76M | ▲ 4.3% |
| Equity10/15 | €-833k | €-641k | €38k | €39k | €36k | ▼ 5.9% |
| Contributions10/11 | €50k | €50k | - | €50k | €50k | = |
| Reserves13 | €189k | €189k | €189k | €189k | €189k | = |
| Non-distributable reserves130/1 | - | - | - | €5k | €5k | = |
| Reserves not available under the articles1311 | - | - | - | €5k | €5k | = |
| Tax-exempt reserves132 | - | - | - | €49k | €49k | = |
| Distributable reserves133 | - | - | - | €135k | €135k | = |
| Profit (loss) carried forward14 | €-1.07M | €-881k | €-201k | €-201k | €-203k | ▼ 1.1% |
| Amounts payable17/49 | €1.62M | €1.14M | €2.93M | €5.48M | €5.72M | ▲ 4.3% |
| Amounts payable after more than one year17 | €1.58M | - | - | - | - | - |
| Amounts payable within one year42/48 | €40k | €1.14M | €2.93M | €5.48M | €5.72M | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2.46M | €3.54M | ▲ 43.8% |
| Trade debts44 | €40k | €60k | €150k | €2.88M | €2.17M | ▼ 24.7% |
| Suppliers440/4 | - | - | - | €2.88M | €2.17M | ▼ 24.7% |
| Taxes, remuneration and social security45 | - | - | - | €141k | €1k | ▼ 99.0% |
| Taxes450/3 | - | - | - | €141k | €1k | ▼ 99.0% |
| Other amounts payable47/48 | - | - | - | - | €7k | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135k | €192k | €679k | €549 | €-2k | ▼ 513% |
| + Depreciation and write-downs630 | €640 | €2k | €2k | €2k | €1k | ▼ 52.4% |
| Operating cash flow (approximation) | €136k | €194k | €681k | €3k | €-1k | ▼ 136% |
| Investment in fixed assets (approximation) | - | €-11k | €-6k | €0 | €0 | - |
| Change in cash | - | €3k | €96k | €-101k | €5k | ▲ 105% |
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
14-10
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 08-10-2024
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 60 days late
2022
31-12
Financial
Weakest financial yearnet €-2k
Net result drops to €-2k, the lowest in the series.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 60 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €679k ▲254%
Operating result €773k, net result €679k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.01
Current ratio from 0.42 to 1.01.
17-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 109 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 52 days late
2016
22-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
05-06
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
05-06
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Antwerpen · 1 establishment unit since 1961
Ground area
471 m²
Building footprint
471 m²
Volume, LiDAR
5,564 m³
Parcel 11811L3652/00T003, Flanders · tallest building 15.8 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Vlaamsekaai 5, 2000 Antwerpen
since 19612.005.141.339
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3652/00T003 | Flanders | 471 m² | 1 · 471 m² | 15.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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 | PETER HECHTERMANS JUSTITIESTRAAT 27 BUS 12,
2018 ANTWERPEN 1 |
08-10-2024 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 161,404 EUR awarded · 161,404 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 161,404 EUR | 161,404 EUR |
Schemes
Subsidie voor sanering in het kader van vernieuwing van leegstaande en/of verwaarloosde bedrijfsruimten (stopgezet)
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 4,583 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded21-06-1961
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
Scores and ratios are computed by Checked and are not a credit decision.