For this company, outstanding debts are reported by the Social Security and/or FPS Finance, resulting in a withholding obligation (Art 30bis and 30ter, more information via this link).
Outstanding debts with the Social Security or FPS finances often indicate serious difficulties, especially if the company also has liquidity problems.
The filing had to be made by: 31-10-2024
The annual accounts must be filed within 30 days after they have been approved by the general at the meeting and no later than 7 months after the closing date of the financial year, are deposited with the Central Balance Sheet Office.
Companies that do not submit their annual accounts on time will be charged a rate surcharge.
From the first day of the 9th month after the closing of the financial year:
- 120 euros for small companies (= abbreviated scheme)
- 400 euros for the other companies
The reason may be of an organizational or administrative nature.
If the company has other negative signals, this may indicate a serious negative signal.
Companies in difficulty often withhold their annual accounts because they wish to hide their bad figures.
One quarter of those which fail have a general indebtedness > 100% (*)
A general indebtedness of < 50% is absolutely healthy.
General indebtedness = debt/total assets
This shows what percentage of a company's total funds is being provided by third party funds, or debt.
Being > 100% indebted means a company's equity assets are negative, due to carrying over major losses:
so its liabilities exceed 100% of its total assets.
Such a situation is unsustainable in the long term (cf.
alarm bell procedure).
= A very bad sign!
Businesses do benefit from having a certain level of debt, however, as interest on debt capital is tax-deductible, for example.
Deducting notional interest also plays a major role in choosing between debt and equity in Belgium.
(*) Source: Companyweb: results based on our own study into causes of bankruptcies.
