2TP
InactiveFinancials · financial year 2021, abbreviated format
2021 annual accounts filed late (2 days) Filed on 2 August 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20269414.
Turnover
€3.8m▼ 25.8%
2020 · €5.1m
EBIT margin
17.6%▲ 10.3pp
2020 · 7.3%
Net result
€481,136▲ 82.7%
2020 · €263,392
Working capital
€706,707▼ 31.3%
2020 · €1.0m
Trend over the years
2018 to 2021, 4 financial years 2018 to 2021, 4 financial years
The operating result recovers in 2021; 2021 is 78% above 2020.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€3.8m
2021
Operating result€0.7m
2021
Net result€0.5m
2021
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.1m
2021
Equity€0.7m
2021
Debt€0.4m
2021
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.7m
2021
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin17.6%
2021
Average staff in full-time equivalents (FTE).
Staff (FTE)11.4
2021
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Turnover€6.2m€5.1m▼ 17.4%€3.8m▼ 25.8%
Operating result€0.7m-€0.6m▼ 12.2%€0.4m▼ 39.8%€0.7m▲ 78.4%
Net result€0.5m-€0.4m▼ 8.9%€0.3m▼ 38.0%€0.5m▲ 82.7%
EBIT margin10.0%7.3%▼ 2.7pp17.6%▲ 10.3pp
Equity€0.4m-€0.8m▲ 83.4%€1.0m▲ 25.9%€0.7m▼ 31.4%
Total assets€2.1m-€1.9m▼ 10.0%€2.1m▲ 8.7%€1.1m▼ 47.0%
Debt€1.7m-€1.1m▼ 35.1%€1.0m▼ 4.4%€0.4m▼ 62.6%
Working capital€0.4m-€0.8m▲ 92.0%€1.0m▲ 28.1%€0.7m▼ 31.3%
Staff (FTE)18.7-23.9▲ 27.8%17.8▼ 25.5%11.4▼ 36.0%
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €1.1m
Fixed assets
€9,111 ▼ 17.8%
Current assets
€1.1m ▼ 47.2%
Equity and liabilities €1.1m
Equity
€712,243 ▼ 31.4%
Provisions
€682 ▼ 59.1%
Debt
€389,482 ▼ 62.6%
Debt's share of the balance-sheet total falls from 50.0% to 35.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€676,181▲
2020 · €387,714
Cash flow
€490,683▲
2020 · €277,432
Current ratio
2.83▲
2020 · 1.99
Debt to equity
0.55
ROE
67.6%▲
2020 · 25.4%
ROA
43.6%▲
2020 · 12.7%
Interest coverage
55.99
Debt ≤ 1 year
€386,589▼
2020 · €1.0m
Income taxes
€175,621▲
2020 · €89,151
Staff costs
€810,671
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | €6.2m | €5.1m | €3.8m | ▼ 25.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €2.4m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.001m | - |
| Other operating charges640/8 | - | - | - | €0.004m | - |
| Gross operating margin9900 | €1.9m | €2.1m | €1.4m | €1.5m | ▲ 3.6% |
| Operating profit (loss)9901 | €0.7m | €0.6m | €0.4m | €0.7m | ▲ 78.4% |
| Financial income75/76B | - | - | - | €0.002m | - |
| Recurring financial income75 | €373 | €0.001m | €0.001m | €0.002m | ▲ 112% |
| Financial charges65/66B | - | - | - | €0.01m | - |
| Recurring financial charges65 | €0.01m | €0.02m | €0.02m | €0.01m | ▼ 45.5% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.6m | €0.4m | €0.7m | ▲ 86.3% |
| Income taxes67/77 | €0.2m | €0.2m | €0.09m | €0.2m | ▲ 97.0% |
| Profit (loss) for the period9904 | €0.5m | €0.4m | €0.3m | €0.5m | ▲ 82.7% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.4m | €0.2m | €0.5m | ▲ 213% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.1m | €1.9m | €2.1m | €1.1m | ▼ 47.0% |
| Fixed assets21/28 | €0.03m | €0.02m | €0.01m | €0.009m | ▼ 17.8% |
| Tangible fixed assets22/27 | €0.03m | €0.02m | €0.01m | €0.009m | ▼ 17.8% |
| Plant, machinery and equipment23 | - | - | - | €0.009m | - |
| Other tangible fixed assets26 | - | - | - | €235 | - |
| Current assets29/58 | €2.1m | €1.9m | €2.1m | €1.1m | ▼ 47.2% |
| Amounts receivable within one year40/41 | €1.7m | €1.8m | €2.0m | €1.1m | ▼ 47.2% |
| Trade receivables40 | - | - | - | €0.5m | - |
| Other amounts receivable41 | - | - | - | €0.6m | - |
| Cash at bank and in hand54/58 | €0.4m | €0.04m | €0.03m | €0.01m | ▼ 59.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.1m | €1.9m | €2.1m | €1.1m | ▼ 47.0% |
| Equity10/15 | €0.4m | €0.8m | €1.0m | €0.7m | ▼ 31.4% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | - |
| Issued capital100 | - | - | - | €0.06m | - |
| Reserves13 | €0.4m | €0.8m | €1.0m | €0.7m | ▼ 33.4% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | - |
| Legal reserve130 | - | - | - | €0.006m | - |
| Tax-exempt reserves132 | - | - | - | €0.2m | - |
| Distributable reserves133 | - | - | - | €0.5m | - |
| Profit (loss) carried forward14 | €95 | €115 | €47 | €83 | ▲ 75.7% |
| Provisions and deferred taxes16 | - | €0.002m | €0.002m | €0.001m | ▼ 59.1% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.001m | - |
| Pensions and similar obligations160 | - | - | - | €0.001m | - |
| Amounts payable17/49 | €1.7m | €1.1m | €1.0m | €0.4m | ▼ 62.6% |
| Amounts payable within one year42/48 | €1.7m | €1.1m | €1.0m | €0.4m | ▼ 62.9% |
| Trade debts44 | €0.8m | €0.8m | €0.8m | €0.2m | ▼ 70.1% |
| Suppliers440/4 | - | - | - | €0.2m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | - |
| Taxes450/3 | - | - | - | €0.08m | - |
| Remuneration and social security454/9 | - | - | - | €0.07m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €466,634 | €424,920 | €263,392 | €481,136 | ▲ 82.7% |
| + Depreciation and write-downs630 | €17,722 | €18,511 | €14,040 | €9,547 | ▼ 32.0% |
| Operating cash flow (approximation) | €484,356 | €443,431 | €277,432 | €490,683 | ▲ 76.9% |
| Investment in fixed assets (approximation) | - | -€10,259 | -€1,808 | -€7,579 | ▼ 319% |
| Change in cash | - | -€325,365 | -€9,042 | -€15,485 | ▼ 71.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2021 | abbreviated format | 02-08-2022 | 2022-20269414 |
| 31-12-2020 | abbreviated format | 12-07-2021 | 2021-34500071 |
| 31-12-2019 | abbreviated format | 09-07-2020 | 2020-28400338 |
| 31-12-2018 | abbreviated format | 20-06-2019 | 2019-21200065 |
| 31-12-2017 | abbreviated format | 12-07-2018 | 2018-32300412 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.