Judicial reorganization offers companies in payment difficulties a chance to protect themselves temporarily against their creditors.
To do so, they must submit a reorganisation plan to the Court of Commerce.
As soon as the court approves the judicial reorganisation, the creditors of the company in difficulties can no longer distrain its assets.
So this often presents creditors with a fait accompli.
Most companies seeking protection from their creditors end up becoming insolvent or being liquidated, though.(*)
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Reorganization | Numbers | Insolvency or liquidation |
|---|
| 2019 | 581 | 66% |
| 2020 | 478 | 60% |
| 2021 | 407 | 54% |
| 2022 | 465 | 55% |
| 2023 | 598 | 32% |
statistics as at 7 may 2024
(*) Source: Companyweb: results based on our own study into causes of bankruptcies.
A business is liquid if it can meet its short-term payment obligations; if not, it is illiquid.
A liquidity of > 1 is considered very good
(= in theory, this business can pay its short-term liabilities if it realises its current assets).
The way this ratio has changed in recent years is highly significant.
If liquidity falls steadily, this means things are getting increasingly worse, and will end up being unsustainable.
How liquid and profitable a business is gives a good idea of how well it is doing.
| Liquidity | Profitability |
|---|
| + | - |
| + | Healthy | Chronically sick |
| - | Temporarily sick | Dying |
(**)
(**) Source: Handbook "Financial analysis process" by Hubert Ooghe and Charles Van Wymeersch (Intersentia)
The company you are looking for has holdings in one or more other companies.
Any problems with these subsidiaries could affect the parent company's results badly.
To get the full picture of a company's financial health, it's best to look at its subsidiaries too.
| Enterprise number |
Company |
Warnings |
|
BE 0822.347.489
|
Zoute Grand Prix (SRL) |
Warnings: 3 |
