ALPHASEED
Open bankruptcyFinancials · financial year 2021, full format
Annual accounts 2021 filed on 27-07-2022 PDF all 3 filings
Equity
€815,864
2020 · -€267,727
Net result
-€296,409▼ 59.6%
2020 · -€185,740
Total assets
€1.5m▲ 31.8%
2020 · €1.1m
Solvency
56.0%▲ 80.3pp
2020 · -24.2%
Multi-year overview
2019 to 2021, 3 financial yearsOperating result
-€293,394
▼ 58.3%
2021
20192021
Net result
-€296,409
▼ 59.6%
2021
lowest quarter of the sector
20192021
Equity
€815,864
2021
middle half of the sector
20192021
Total assets
€1.5m
▲ 31.8%
2021
lowest quarter of the sector
20192021
Debt
€640,053
▼ 53.4%
2021
20192021
Working capital
-€388,930
2021
middle half of the sector
20192021
Solvency
56.0%
▲ 80.3pp
2021
middle half of the sector
20192021
Current ratio
0.12
▼ 1.46
2021
lowest quarter of the sector
20192021
Return on assets (ROA)
-20.4%
▼ 3.5pp
2021
lowest quarter of the sector
20192021
Staff (FTE)
3
▲ 275%
2021
middle half of the sector
20192021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021
Operating result-€0.1m--€0.2m▼ 29.2%-€0.3m▼ 58.3%
Net result-€0.1m--€0.2mbelow the sector's middle half▼ 29.4%-€0.3mbelow the sector's middle half▼ 59.6%
Equity-€0.08m--€0.3mbelow the sector's middle half▼ 227%€0.8mwithin the sector's middle half
Total assets€0.4m-€1.1mabove the sector's middle half▲ 182%€1.5mbelow the sector's middle half▲ 31.8%
Debt€0.5m-€1.4m▲ 189%€0.6m▼ 53.4%
Working capital-€0.002m-€0.1mwithin the sector's middle half-€0.4mwithin the sector's middle half
Solvency-20.9%--24.2%below the sector's middle half▼ 3.3pp56.0%within the sector's middle half▲ 80.3pp
Current ratio0.94-1.58within the sector's middle half▲ 0.640.12below the sector's middle half▼ 1.46
Return on assets (ROA)-36.6%--16.8%below the sector's middle half▲ 19.8pp-20.4%below the sector's middle half▼ 3.5pp
Staff (FTE)0.8within the sector's middle half3within the sector's middle half▲ 275%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2021 is a loss of €293,394, larger than the loss of €185,333 in 2020. It is the lowest result since 2019.
Large changes and their cause
- 2021 Net result -60% on 2020. The accounts now follow the full format, last year the micro format.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.4m ▲ 75.4%
Current assets
€51,122 ▼ 83.2%
Equity and liabilities €1.5m
Equity
€815,864
Debt
€640,053
Debt's share of the balance-sheet total is 44.0%.
Key figures and ratios
ROE
-36.3%
Debt ≤ 1 year
€440,053▲
2020 · €192,563
Debt > 1 year
€200,000▼
2020 · €1.2m
Income taxes
€479
Staff costs
€201,862
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 | 4 |
| full-time | 4 |
| in full-time equivalents | 4 |
| Average over the year, in full-time equivalents | 3 |
| On a permanent contract | 4 |
| Joined | 2 |
| Left | 0 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €4,478 |
| Financial fixed assets | €600,461 |
| Depreciation and write-downs of the year | €1,543 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €201,862 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €147 | €647 | €1,543 | ▲ 138% |
| Other operating charges640/8 | - | - | €831 | - |
| Gross operating margin9900 | -€142,981 | -€150,651 | -€89,158 | ▲ 40.8% |
| Operating profit (loss)9901 | -€143,476 | -€185,333 | -€293,394 | ▼ 58.3% |
| Financial charges65/66B | - | - | €2,536 | - |
| Recurring financial charges65 | €11 | €407 | €2,536 | ▲ 523% |
| Profit (loss) for the period before taxes9903 | -€143,487 | -€185,740 | -€295,931 | ▼ 59.3% |
| Income taxes67/77 | - | - | €479 | - |
| Profit (loss) for the period9904 | -€143,487 | -€185,740 | -€296,409 | ▼ 59.6% |
| Profit (loss) for the period to be appropriated9905 | -€143,487 | -€185,740 | -€296,409 | ▼ 59.6% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.4m | €1.1m | €1.5m | ▲ 31.8% |
| Formation expenses20 | €0.001m | €0.001m | €0.001m | ▼ 28.6% |
| Fixed assets21/28 | €0.4m | €0.8m | €1.4m | ▲ 75.4% |
| Tangible fixed assets22/27 | - | €0.004m | €0.007m | ▲ 83.2% |
| Plant, machinery and equipment23 | - | - | €447 | - |
| Furniture and vehicles24 | - | - | €0.007m | - |
| Financial fixed assets28 | €0.4m | €0.8m | €1.4m | ▲ 75.4% |
| Current assets29/58 | €0.03m | €0.3m | €0.05m | ▼ 83.2% |
| Amounts receivable within one year40/41 | €0.03m | €0.3m | €0.03m | ▼ 87.8% |
| Trade receivables40 | - | - | €0.007m | - |
| Other amounts receivable41 | - | - | €0.03m | - |
| Cash at bank and in hand54/58 | €0.003m | €0.02m | €0.01m | ▼ 43.7% |
| Deferred charges and accrued income490/1 | - | - | €0.003m | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.4m | €1.1m | €1.5m | ▲ 31.8% |
| Equity10/15 | -€0.08m | -€0.3m | €0.8m | - |
| Contributions10/11 | €0.06m | €0.06m | €1.4m | ▲ 23× |
| Capital10 | - | - | €1.4m | - |
| Issued capital100 | - | - | €1.4m | - |
| Profit (loss) carried forward14 | -€0.1m | -€0.3m | -€0.6m | ▼ 90.0% |
| Amounts payable17/49 | €0.5m | €1.4m | €0.6m | ▼ 53.4% |
| Amounts payable after more than one year17 | €0.4m | €1.2m | €0.2m | ▼ 83.1% |
| Other amounts payable178/9 | - | - | €0.2m | - |
| Amounts payable within one year42/48 | €0.03m | €0.2m | €0.4m | ▲ 129% |
| Financial debts43 | - | - | €151 | - |
| Credit institutions430/8 | - | - | €151 | - |
| Trade debts44 | €0.03m | €0.2m | €0.3m | ▲ 86.0% |
| Suppliers440/4 | - | - | €0.3m | - |
| Taxes, remuneration and social security45 | - | - | €0.05m | - |
| Taxes450/3 | - | - | €0.007m | - |
| Remuneration and social security454/9 | - | - | €0.05m | - |
| Other amounts payable47/48 | - | - | €0.04m | - |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€143,487 | -€185,740 | -€296,409 | ▼ 59.6% |
| + Depreciation and write-downs630 | €147 | €647 | €1,543 | ▲ 138% |
| Operating cash flow (approximation) | -€143,340 | -€185,093 | -€294,867 | ▼ 59.3% |
| Investment in fixed assets (approximation) | - | -€439,526 | -€605,230 | ▼ 37.7% |
| Change in cash | - | €21,516 | -€10,576 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.