ACCUREC
InactiveFinancials · financial year 2020, abbreviated format
2020 annual accounts filed 30 days after the deadline Filed on 30 August 2021, deadline 31 July 2021 (7 months after the close on 31 December 2020, Companies Code art. 3:10). Source: NBB, 2021-57900219.
Annual accounts 2020 filed on 30-08-2021 PDF all 14 filings
Equity
-€1.7m▼ 50.4%
2019 · -€1.1m
Total assets
€1.8m▲ 26.5%
2019 · €1.4m
Net result
-€553,877▲ 4.5%
2019 · -€580,191
Working capital
-€2.6m▼ 18.5%
2019 · -€2.2m
Multi-year overview
2018 to 2020, 3 financial yearsOperating result
-€455,023
▲ 17.4%
2020
20182020
Net result
-€553,877
▲ 4.5%
2020
20182020
Equity
-€1.7m
▼ 50.4%
2020
20182020
Total assets
€1.8m
▲ 26.5%
2020
20182020
Debt
€3.5m
▲ 36.8%
2020
20182020
Working capital
-€2.6m
▼ 18.5%
2020
20182020
Staff (FTE)
3.1
▼ 6.1%
2020
20182020
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020
Operating result-€0.2m--€0.6m▼ 218%-€0.5m▲ 17.4%
Net result-€0.2m--€0.6m▼ 188%-€0.6m▲ 4.5%
Equity-€0.5m--€1.1m▼ 112%-€1.7m▼ 50.4%
Total assets€1.8m-€1.4m▼ 22.0%€1.8m▲ 26.5%
Debt€2.4m-€2.5m▲ 7.4%€3.5m▲ 36.8%
Working capital-€1.6m--€2.2m▼ 32.3%-€2.6m▼ 18.5%
Staff (FTE)4.3-3.3▼ 23.3%3.1▼ 6.1%
The operating result for 2020 is a loss of €455,023, smaller than the loss of €550,978 in 2019.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €1.8m
Fixed assets
€998,736 ▼ 13.1%
Current assets
€824,473 ▲ 182%
Equity and liabilities
Equity-€1.7m
Debt€3.5m
Equity is negative. Debt (€3.5m) exceeds the balance-sheet total (€1.8m).
Key figures and ratios
EBITDA
-€298,067▲
2019 · -€386,893
Cash flow
-€396,922▲
2019 · -€416,106
Solvency
-90.6%▼
2019 · -76.2%
Current ratio
0.24▲
2019 · 0.12
Quick ratio
0.18▲
2019 · 0.04
ROA
-30.4%▲
2019 · -40.3%
Debt ≤ 1 year
€3.4m▲
2019 · €2.5m
Debt > 1 year
€52,083▼
2019 · €71,873
Income taxes
€146
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €162,167 | €164,085 | €156,956 | ▼ 4.3% |
| Gross operating margin9900 | €229,437 | -€116,963 | -€180,550 | ▼ 54.4% |
| Operating profit (loss)9901 | -€173,266 | -€550,978 | -€455,023 | ▲ 17.4% |
| Recurring financial income75 | - | - | €2 | - |
| Recurring financial charges65 | €28,522 | €29,213 | €50,284 | ▲ 72.1% |
| Profit (loss) for the period before taxes9903 | -€201,787 | -€580,191 | -€553,731 | ▲ 4.6% |
| Income taxes67/77 | - | - | €146 | - |
| Profit (loss) for the period9904 | -€201,787 | -€580,191 | -€553,877 | ▲ 4.5% |
| Profit (loss) for the period to be appropriated9905 | -€201,787 | -€580,191 | -€553,877 | ▲ 4.5% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.8m | €1.4m | €1.8m | ▲ 26.5% |
| Fixed assets21/28 | €1.3m | €1.1m | €1.0m | ▼ 13.1% |
| Tangible fixed assets22/27 | €1.3m | €1.1m | €1.0m | ▼ 13.1% |
| Current assets29/58 | €0.6m | €0.3m | €0.8m | ▲ 182% |
| Stocks and contracts in progress3 | €0.3m | €0.2m | €0.2m | ▲ 13.4% |
| Amounts receivable within one year40/41 | €0.3m | €0.1m | €0.6m | ▲ 482% |
| Cash at bank and in hand54/58 | €4 | - | €0.03m | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.8m | €1.4m | €1.8m | ▲ 26.5% |
| Equity10/15 | -€0.5m | -€1.1m | -€1.7m | ▼ 50.4% |
| Contributions10/11 | €1.9m | €1.9m | €1.9m | = |
| Reserves13 | €0.008m | €0.008m | €0.008m | = |
| Profit (loss) carried forward14 | -€2.4m | -€3.0m | -€3.5m | ▼ 18.6% |
| Amounts payable17/49 | €2.4m | €2.5m | €3.5m | ▲ 36.8% |
| Amounts payable after more than one year17 | €0.2m | €0.07m | €0.05m | ▼ 27.5% |
| Amounts payable within one year42/48 | €2.2m | €2.5m | €3.4m | ▲ 37.8% |
| Trade debts44 | €0.9m | €1.1m | €1.8m | ▲ 59.1% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€201,787 | -€580,191 | -€553,877 | ▲ 4.5% |
| + Depreciation and write-downs630 | €162,167 | €164,085 | €156,956 | ▼ 4.3% |
| Operating cash flow (approximation) | -€39,620 | -€416,106 | -€396,922 | ▲ 4.6% |
| Investment in fixed assets (approximation) | - | -€28,326 | -€6,788 | ▲ 76.0% |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-57900219 | |
| 31-12-2019 | abbreviated format | 13-08-2020 | 2020-40900598 | |
| 31-12-2018 | abbreviated format | 09-08-2019 | 2019-45000268 | |
| 31-12-2017 | abbreviated format | 30-05-2018 | 2018-14800144 | |
| 31-12-2016 | abbreviated format | 27-06-2017 | 2017-22400097 | |
| 30-09-2015 | abbreviated format | 17-03-2016 | 2016-06600233 | |
| 30-09-2014 | abbreviated format | 09-03-2015 | 2015-05800502 | |
| 30-09-2013 | abbreviated format | 10-03-2014 | 2014-06100280 | |
| 30-09-2012 | abbreviated format | 05-03-2013 | 2013-05700538 | |
| 31-12-2010 | abbreviated format | 07-06-2011 | 2011-15400389 |