The Brussels Enterprise Court has declared bankruptcy for Artoos, a printing company based in Kampenhout, Belgium.
The ruling marks the end of the firm after it lost a crucial contract with the Flemish government, a blow that accelerated its financial decline.
The company had been struggling for some time before the final collapse.
The insolvency places nearly 100 jobs in immediate jeopardy.
For the workforce, the news arrives as a harsh confirmation of the company's deteriorating position.
The loss of the public sector contract appears to have been the decisive factor that pushed the business into insolvency proceedings.