ABC
InactiveFinancials · financial year 2021, full format
Annual accounts 2021 filed on 24-06-2022 PDF all 45 filings
Turnover
€10.1m▲ 5.4%
2020 · €9.6m
EBIT margin
-26.6%▼ 69.7pp
2020 · 43.1%
Net result
-€3.2m
2020 · €3.5m
Working capital
€1.3m
2020 · -€4.0m
Multi-year overview
2018 to 2021, 4 financial yearsTurnover
€10.1m
▲ 5.4%
2021
20182021
Operating result
-€2.7m
2021
20182021
Net result
-€3.2m
2021
20182021
EBIT margin
-26.6%
▼ 69.7pp
2021
20182021
Equity
€16.5m
▼ 16.5%
2021
20182021
Total assets
€219.3m
▲ 11.9%
2021
20182021
Debt
€198.9m
▲ 13.0%
2021
20182021
Working capital
€1.3m
2021
20182021
Staff (FTE)
44.7
▼ 7.8%
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Turnover€9.2m-€7.2m▼ 21.8%€9.6m▲ 32.8%€10.1m▲ 5.4%
Operating result€1.1m--€0.7m€4.1m-€2.7m
Net result€0.8m--€1.5m€3.5m-€3.2m
EBIT margin12.1%--9.2%▼ 21.3pp43.1%▲ 52.3pp-26.6%▼ 69.7pp
Equity€16.7m-€16.2m▼ 3.0%€19.7m▲ 21.6%€16.5m▼ 16.5%
Total assets€160.0m-€174.3m▲ 8.9%€196.0m▲ 12.4%€219.3m▲ 11.9%
Debt€143.1m-€157.9m▲ 10.4%€176.0m▲ 11.5%€198.9m▲ 13.0%
Working capital-€2.1m--€2.2m▼ 7.6%-€4.0m▼ 79.6%€1.3m
Staff (FTE)46-47.1▲ 2.4%48.5▲ 3.0%44.7▼ 7.8%
The operating result for 2021 is a loss of €2.7m, after a profit of €4.1m in 2020. It is the lowest result since 2018.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €219.3m
Fixed assets
€208.3m ▲ 9.2%
Current assets
€11.0m ▲ 109%
Equity and liabilities €219.3m
Equity
€16.5m ▼ 16.5%
Provisions
€3.9m ▲ 18×
Debt
€198.9m ▲ 13.0%
Debt's share of the balance-sheet total rises from 89.8% to 90.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€1.4m▼
2020 · €7.8m
Cash flow
€905,115▼
2020 · €7.2m
Current ratio
1.14▲
2020 · 0.57
Quick ratio
1.13▲
2020 · 0.56
Debt to equity
12.08▲
2020 · 8.35
ROE
-19.5%▼
2020 · 17.8%
ROA
-1.5%▼
2020 · 1.8%
Interest coverage
0.43▼
2020 · 2.66
Debt ≤ 1 year
€9.7m▲
2020 · €9.2m
Debt > 1 year
€187.2m▲
2020 · €164.7m
Income taxes
€41,543▲
2020 · -€1,104
Customer credit
17 days▲
2020 · 16 days
Supplier credit
398 days
Staff costs
€2.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 39 |
| full-time | 30 |
| part-time | 9 |
| in full-time equivalents | 36.8 |
| Average over the year, in full-time equivalents | 44.7 |
| On a permanent contract | 39 |
| Joined | 24 |
| Left | 36 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €26.2m |
| Depreciation and write-downs of the year | €4.1m |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Auditor
The auditor is BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES.
| Item | 2021 |
|---|---|
| Fee for the audit | €11,150 |
| Other work by the auditor | €4,877 |
Source: notes to the 2021 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €15.7m | - |
| Turnover70 | €9.2m | €7.2m | €9.6m | €10.1m | ▲ 5.4% |
| Own construction capitalised72 | - | - | - | €0.4m | - |
| Other operating income74 | - | - | - | €0.8m | - |
| Non-recurring operating income76A | - | - | - | €4.5m | - |
| Operating charges60/66A | - | - | - | €18.4m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.1m | - |
| Purchases600/8 | - | - | - | €0.09m | - |
| Change in stocks: decrease (increase)609 | - | - | - | €0.04m | - |
| Services and other goods61 | - | - | - | €3.3m | - |
| Remuneration, social security and pensions62 | - | - | - | €2.3m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4.2m | €4.3m | €3.7m | €4.1m | ▲ 12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.04m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €3.6m | - |
| Other operating charges640/8 | - | - | - | €1.2m | - |
| Non-recurring operating charges66A | - | - | - | €3.8m | - |
| Operating profit (loss)9901 | €1.1m | -€0.7m | €4.1m | -€2.7m | - |
| Financial income75/76B | - | - | - | €2.8m | - |
| Recurring financial income75 | €1.5m | €1.8m | €2.3m | €2.8m | ▲ 22.1% |
| Income from financial fixed assets750 | - | - | - | €0.01m | - |
| Income from current assets751 | - | - | - | €0.002m | - |
| Other financial income752/9 | - | - | - | €2.8m | - |
| Financial charges65/66B | - | - | - | €3.3m | - |
| Recurring financial charges65 | €2.4m | €2.6m | €2.9m | €3.3m | ▲ 13.3% |
| Debt charges650 | €2.4m | €2.6m | €2.9m | €3.3m | ▲ 13.3% |
| Other financial charges652/9 | - | - | - | €0.006m | - |
| Profit (loss) for the period before taxes9903 | €0.8m | -€1.5m | €3.5m | -€3.2m | - |
| Transfer from deferred taxes780 | - | - | - | €0.02m | - |
| Income taxes67/77 | €0.002m | -€0.001m | -€0.001m | €0.04m | - |
| Taxes670/3 | - | - | - | €0.04m | - |
| Profit (loss) for the period9904 | €0.8m | -€1.5m | €3.5m | -€3.2m | - |
| Profit (loss) for the period to be appropriated9905 | €0.8m | -€1.5m | €3.5m | -€3.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €160.0m | €174.3m | €196.0m | €219.3m | ▲ 11.9% |
| Fixed assets21/28 | €154.5m | €169.0m | €190.7m | €208.3m | ▲ 9.2% |
| Tangible fixed assets22/27 | €154.5m | €169.0m | €190.7m | €208.3m | ▲ 9.2% |
| Land and buildings22 | - | - | - | €185.7m | - |
| Plant, machinery and equipment23 | - | - | - | €130 | - |
| Furniture and vehicles24 | - | - | - | €0.1m | - |
| Leasing and similar rights25 | - | - | - | €0.03m | - |
| Assets under construction and advance payments27 | - | - | - | €22.5m | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.002m | €0.003m | ▲ 14.3% |
| Other financial fixed assets284/8 | - | - | - | €0.003m | - |
| Shares284 | - | - | - | €0.002m | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.001m | - |
| Current assets29/58 | €5.5m | €5.3m | €5.3m | €11.0m | ▲ 109% |
| Stocks and contracts in progress3 | €0.07m | €0.08m | €0.09m | €0.05m | ▼ 44.8% |
| Stocks30/36 | - | - | - | €0.05m | - |
| Goods purchased for resale34 | - | - | - | €0.05m | - |
| Amounts receivable within one year40/41 | €1.3m | €0.6m | €0.4m | €7.3m | ▲ 18× |
| Trade receivables40 | - | - | - | €0.5m | - |
| Other amounts receivable41 | - | - | - | €6.8m | - |
| Cash at bank and in hand54/58 | €3.4m | €3.8m | €3.8m | €2.7m | ▼ 28.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1.0m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €160.0m | €174.3m | €196.0m | €219.3m | ▲ 11.9% |
| Equity10/15 | €16.7m | €16.2m | €19.7m | €16.5m | ▼ 16.5% |
| Contributions10/11 | €0.6m | €0.6m | €0.7m | €0.7m | ▲ 1.1% |
| Capital10 | - | - | - | €0.7m | - |
| Issued capital100 | - | - | - | €0.8m | - |
| Uncalled capital101 | - | - | - | €0.1m | - |
| Reserves13 | €10.1m | €10.1m | €10.1m | €10.1m | = |
| Non-distributable reserves130/1 | - | - | - | €10.1m | - |
| Legal reserve130 | - | - | - | €0.08m | - |
| Other1319 | - | - | - | €10.0m | - |
| Tax-exempt reserves132 | - | - | - | €0.01m | - |
| Profit (loss) carried forward14 | - | -€1.5m | €2.0m | -€1.2m | - |
| Investment grants15 | - | - | - | €6.9m | - |
| Provisions and deferred taxes16 | €0.2m | €0.2m | €0.2m | €3.9m | ▲ 18× |
| Provisions for liabilities and charges160/5 | - | - | - | €3.6m | - |
| Major repairs and maintenance162 | - | - | - | €2.0m | - |
| Other liabilities and charges164/5 | - | - | - | €1.6m | - |
| Deferred taxes168 | - | - | - | €0.4m | - |
| Amounts payable17/49 | €143.1m | €157.9m | €176.0m | €198.9m | ▲ 13.0% |
| Amounts payable after more than one year17 | €134.3m | €148.4m | €164.7m | €187.2m | ▲ 13.7% |
| Financial debts170/4 | - | - | - | €185.5m | - |
| Credit institutions173 | - | - | - | €185.5m | - |
| Other amounts payable178/9 | - | - | - | €1.7m | - |
| Amounts payable within one year42/48 | €7.5m | €7.5m | €9.2m | €9.7m | ▲ 4.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4.4m | - |
| Trade debts44 | €2.8m | €2.6m | €3.7m | €3.7m | ▲ 1.6% |
| Suppliers440/4 | - | - | - | €3.7m | - |
| Taxes, remuneration and social security45 | - | - | - | €1.5m | - |
| Taxes450/3 | - | - | - | €1.0m | - |
| Remuneration and social security454/9 | - | - | - | €0.4m | - |
| Other amounts payable47/48 | - | - | - | €0.1m | - |
| Accrued charges and deferred income492/3 | - | - | - | €2.0m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.8m | -€1.5m | €3.5m | -€3.2m | - |
| + Depreciation and write-downs630 | €4.2m | €4.3m | €3.7m | €4.1m | ▲ 12.4% |
| Operating cash flow (approximation) | €5.0m | €2.8m | €7.2m | €0.9m | ▼ 87.4% |
| Investment in fixed assets (approximation) | - | -€18.8m | -€25.3m | -€21.7m | ▲ 14.2% |
| Change in cash | - | €0.4m | -€0.01m | -€1.1m | ▼ 8,028% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 45 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | full format | 24-06-2022 | 2022-20108639 | |
| 31-12-2020 | full format | 07-06-2021 | 2021-17900511 | |
| 31-12-2019 | full format | 29-06-2020 | 2020-22800205 | |
| 31-12-2018 | full format | 31-05-2019 | 2019-15200195 | |
| 31-12-2017 | full format | 20-06-2018 | 2018-21200113 | |
| 31-12-2016 | full format | 26-07-2017 | 2017-37000014 | |
| 31-12-2015 | full format | 14-06-2016 | 2016-18500082 | |
| 31-12-2014 | full format | 16-06-2015 | 2015-17900080 | |
| 31-12-2013 | full format | 05-06-2014 | 2014-15700122 | |
| 31-12-2012 | abbreviated format | 14-06-2013 | 2013-17900319 |