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ACE

Absorbed by CARMEL INVEST KBO/BCE: BE 0434.733.907 subsidiary of BIMMO NV
ACE
Financial year 2021
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Annual accounts 2021

abbreviated format, filed on 22-03-2022, 131 days before the deadline
Gross margin
€458,498
▲ 0.6%
Operating result
€265,080
▲ 19.5%
Profit
€226,254
▲ 38.2%
Working capital
€488,197
▼ 16.0%
Solvency
4.4%
▲ 0.5 percentage points
Current ratio
2.04
▼ 0.49

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €1.1m. Estimated: probably between €650,000 and €1.8m.

Balance sheet

balance sheet total €1.7m on 31-12-2021
What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE

Staff costs divided by the average number of full-time equivalents.

Joined and left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202120202019201820172016201520142013201220112010200920082007
Balance sheet: assets
Total assets20/58 1.7m1.8m2.0m2.3m2.5m2.7m3.0m3.2m3.0m2.9m2.4m1.1m244,4622.0m2.0m
Formation expenses20 -11,05622,11233,16844,22455,28066,33677,39288,44899,504-----
Fixed assets21/28 727,224836,522986,6541.1m1.3m1.4m1.7m1.8m2.0m2.4m2.0m675,230-2.0m2.0m
Intangible fixed assets21 ---------1,3771,817----
Tangible fixed assets22/27 727,224836,522986,6541.1m1.3m1.4m1.6m1.7m1.9m2.3m2.0m674,349---
Land and buildings22 520,357589,780694,045798,310902,5751.0m1.1m1.2m1.3m1.3m1.2m----
Plant, machinery and equipment23 206,867246,742292,609339,197385,785432,530479,675528,386580,997955,412697,453248,016---
Furniture and vehicles24 ---------45,70255,77031,757---
Assets under construction and advance payments27 -----------394,577---
Financial fixed assets28 ---------1,353427881-2.0m2.0m
Current assets29/58 956,033961,0451.0m1.1m1.1m1.2m1.3m1.4m1.0m519,804473,630407,024244,462804620
Amounts receivable after more than one year29 450,774605,051642,469787,803926,5981.1m1.2m1.3m968,027------
Other amounts receivable291 450,774605,051642,469787,803926,5981.1m1.2m1.3m968,027------
Stocks and contracts in progress3 ---------34,59327,25216,624---
Stocks30/36 ---------34,59327,25216,624---
Amounts receivable within one year40/41 482,318353,092357,942331,451133,413127,837122,68863,00041,334148,675130,278216,115237,317391246
Trade receivables40 -------4,7684,768145,534125,340170,866---
Other amounts receivable41 482,318353,092357,942331,451133,413127,837122,68858,23236,5663,1404,93945,249237,317391246
Cash at bank and in hand54/58 19,67586410,0762,54669,61225,08320,38017,66819,582291,608300,799167,900390412374
Deferred charges and accrued income490/1 3,2672,0373,1742,258---535344,92915,3006,3856,755--
Balance sheet: equity and liabilities
Total equity and liabilities10/49 1.7m1.8m2.0m2.3m2.5m2.7m3.0m3.2m3.0m2.9m2.4m1.1m244,4622.0m2.0m
Equity10/15 73,52969,27568,57367,65067,6501.7m1.6m1.5m1.4m1.3m1.5m28,785244,30968,40469,556
Contributions10/11 61,50061,50061,50061,50061,5002.0m2.0m2.0m2.0m2.0m2.0m250,000250,00075,00075,000
Issued capital100 61,50061,50061,50061,50061,5002.0m2.0m2.0m2.0m2.0m2.0m250,000250,00075,00075,000
Reserves13 12,0297,7757,0736,1506,1507,2847,2847,2847,2847,2847,2847,2847,2847,2847,284
Non-distributable reserves130/1 6,1506,150-------------
Legal reserve130 6,1506,1506,1506,1506,1507,2847,2847,2847,2847,2847,2847,2847,2847,2847,284
Distributable reserves133 5,8791,625923------------
Profit (loss) carried forward14 ------272,124-439,076-545,351-641,330-754,453-476,901-228,499-12,974-13,879-12,728
Amounts payable17/49 1.6m1.7m2.0m2.2m2.4m971,7631.4m1.8m1.6m1.7m914,6031.1m1521.9m1.9m
Amounts payable after more than one year17 1.1m1.4m1.6m1.8m2.0m----------
Financial debts170/4 1.1m1.4m1.6m1.8m2.0m----------
Amounts payable within one year42/48 467,836379,949380,438443,164403,434960,8851.4m1.7m1.6m1.1m418,711880,298-1.9m1.9m
Current portion of amounts payable after more than one year42 217,508214,017210,504207,203203,877----------
Trade debts44 1,5472481341,1811,5694,3853,31517313,438220,990143,358242,022-1479
Suppliers440/4 1,5472481341,1811,5694,3853,31517313,438220,990143,358242,022-1479
Advances received on contracts in progress46 17,872-8,8463,9564,1234,6199,4449,4449,458-3,485184,183---
Taxes, remuneration and social security45 5,4519549548,480-----58,93171,86945,378---
Taxes450/3 5,4519549548,480------3,893----
Remuneration and social security454/9 ---------58,93167,97645,378---
Other amounts payable47/48 225,459164,729160,000222,344193,865951,8801.4m1.7m1.6m800,000200,000408,714-1.9m1.9m
Accrued charges and deferred income492/3 -----10,87916,02518,17817,900571,151495,891173,171152--
Income statement
Gross operating margin9900 458,498455,829414,320409,858349,666351,149342,191370,520478,853683,342500,058186,243-6,089-625-1,848
Remuneration, social security and pensions62 --------9,297704,536542,070343,849---
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 120,354161,188161,909161,909162,066162,740165,328169,228167,719192,751143,96621,314---
Other operating charges640/8 73,06372,83567,52165,29265,24162,53299,953113,787186,03046,34843,44941,3421,186510704
Non-recurring operating charges66A -----------1,085---
Operating profit (loss)9901 265,080221,806184,890182,657122,359125,87876,91187,505115,807-260,292-229,428-220,262-7,275-1,135-2,552
Financial income75/76B 60,66824,00977,83282,33180,04588,79395,20272,93348,0526797587,7208,214--
Recurring financial income75 60,66824,00977,83282,33180,04588,79395,20272,93348,0526797587,7208,214--
Financial charges65/66B 24,04227,54530,84534,16326,04947,71965,83764,45850,73617,93919,7331,8973317110
Recurring financial charges65 24,04227,54530,84534,16326,04947,71965,83764,45850,73617,93919,7331,8973317110
Profit (loss) for the period before taxes9903 301,705218,270231,877230,824176,355166,952106,27695,980113,123-277,552-248,402-215,524907-1,152-2,662
Income taxes67/77 75,45154,56870,9548,480--1-----2--
Profit (loss) for the period9904 226,254163,703160,923222,344176,355166,952106,27495,980113,123-277,552-248,402-215,524905-1,152-2,662
Profit (loss) for the period to be appropriated9905 226,254163,703160,923222,344176,355166,952106,27495,980113,123-277,552-248,402-215,524905-1,152-2,662
Appropriation of the result
Profit (loss) to be appropriated9906 226,254163,703160,923222,344-95,769-272,124-439,076-545,351-641,330-754,453-476,901-228,499-12,974-13,879-12,728
Transfer from equity791/2 ----272,124----------
Transfer to equity691/2 4,254703923-6,150----------
To the legal reserve6920 ----6,150----------
To other reserves6921 4,254703923------------
Profit to be distributed694/7 222,000163,000160,000222,344170,205----------
Return on contributions (dividend)694 222,000163,000160,000222,344170,205----------
Social balance sheet
Average staff (FTE)9087 ---------14.712.611---
Hours worked1013 ---------25,16421,89514,212---
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The accounts for 18 older financial years (1989-2006) were filed as documents without figures as data, scans for example.

Source: Annual accounts 2021 (PDF), filed on 22-03-2022.

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Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2021 abbreviated format 22-03-2022 2022-08300115 PDF
31-12-2020 abbreviated format 18-03-2021 2021-07800339 PDF
31-12-2019 abbreviated format 24-03-2020 2020-07300536 PDF
31-12-2018 abbreviated format 18-06-2019 2019-19400016 PDF
31-12-2017 abbreviated format 26-06-2018 2018-23900454 PDF
31-12-2016 abbreviated format 06-07-2017 2017-28400448 PDF
31-12-2015 abbreviated format 29-06-2016 2016-24600265 PDF
31-12-2014 abbreviated format 01-07-2015 2015-24800552 PDF
31-12-2013 abbreviated format 03-07-2014 2014-26100038 PDF
31-12-2012 abbreviated format 14-08-2013 2013-42200419 PDF
31-12-2011 abbreviated format 18-07-2012 2012-30800012 PDF
31-12-2010 abbreviated format 22-06-2011 2011-19300492 PDF
31-12-2009 abbreviated format 15-07-2010 2010-31400461 PDF
30-09-2008 abbreviated format 31-03-2009 2009-09900089 PDF
30-09-2007 abbreviated format 25-03-2008 2008-08500018 PDF
30-09-2006 abbreviated format 26-03-2007 2007-09102841 PDF
30-09-2005 abbreviated format 23-03-2006 2006-08102581 PDF
30-09-2004 abbreviated format 29-03-2005 2005-09201170 PDF
30-09-2003 abbreviated format 23-03-2004 2004-08300901 PDF
30-09-2002 abbreviated format 28-03-2003 2003-09200962 PDF
30-09-2001 abbreviated format 02-04-2002 2002-08601094 PDF
30-09-2000 abbreviated format 28-03-2001 2001-07802883 PDF
30-09-1999 abbreviated format 21-03-2000 2000-07001757 PDF
30-09-1998 abbreviated format 30-04-1999 1999-08603742 PDF
30-09-1997 abbreviated format 31-03-1998 1998-05701467 PDF
30-09-1996 abbreviated format 26-03-1997 1997-04203530 PDF
30-09-1995 abbreviated format 01-04-1996 1996-05101947 PDF
30-09-1994 abbreviated format 02-05-1995 1995-06603493 PDF
30-09-1993 abbreviated format 03-05-1994 1994-07203264 PDF
30-09-1992 abbreviated format 26-04-1993 1993-05804220 PDF
30-09-1991 abbreviated format 08-04-1992 1992-03901797 PDF
30-09-1990 abbreviated format 22-04-1991 1991-04200210 PDF
30-09-1989 full format 03-05-1990 1990-03803494 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202120202019201820172016201520142013201220112010200920082007
EBITDA 385,434382,994346,799344,566284,425288,618242,238256,733283,526-67,541-85,462-198,948---
Cash flow 346,608324,891322,832384,253338,421329,692271,602265,208280,841-84,801-104,436-194,210---
Investment in fixed assets (approximation) 11,05611,05611,05611,05611,056-55,280012,954219,648505,9911.4m696,544--2.0m
Change in cash 18,811-9,2127,530-67,06644,5294,7032,712-1,913-272,026-9,192132,899167,510-2238-
Working capital 488,197581,096633,223680,895726,189251,388-73,158-342,607-595,139-560,11654,919-473,274--1.9m-1.9m
Solvency 4.4%3.8%3.4%2.9%2.7%64.1%52.5%45.5%45.4%43.1%62.6%2.7%99.9%3.4%3.5%
Current ratio 2.042.532.662.542.801.260.950.800.630.481.130.46-0.000.00
Quick ratio 2.042.532.662.542.801.260.950.800.630.451.070.44-0.000.00
Debt to equity 21.8925.1128.4932.9235.400.560.901.201.201.320.6036.600.0028.3427.85
ROE 307.7%236.3%234.7%328.7%260.7%9.6%6.8%6.6%8.3%-22.2%-16.2%-748.7%0.4%-1.7%-3.8%
ROA 13.4%9.1%8.0%9.7%7.2%6.2%3.6%3.0%3.8%-9.6%-10.2%-19.9%0.4%-0.1%-0.1%

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on ACE

The operating result for 2021 is 20% higher than in 2020 and the highest since 2007. It is the fourth rise in a row, after the fall in 2017.

Debt's share of the balance-sheet total falls from 96.2% to 95.6%. Equity is higher and debt is lower.

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