AMI 4
InactiveInactive; last annual accounts for fiscal year 2024.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
192021222324
2019 to 2024 · latest year -€10,854
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
71 d early
2022
108 d early
2021
41 d early
2020
16 d early
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 39 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?TS 33 · 12 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
Equity
€3.9m▼ 0.3%
2023 · €3.9m
Total assets
€4.1m▼ 23.7%
2023 · €5.3m
Net result
-€10,854▲ 94.7%
2023 · -€204,400
Working capital
€3.9m▼ 0.3%
2023 · €3.9m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€394,605▲ 234%€507,256▲ 28.5%€3.8m▲ 648%-€129,276-€10,582▲ 91.8%
Net result€252,338▲ 341%€351,280▲ 39.2%€2.8m▲ 711%-€204,400-€10,854▲ 94.7%
Equity€916,298▲ 38.0%€1.3m▲ 38.3%€4.1m▲ 225%€3.9m▼ 5.0%€3.9m▼ 0.3%
Total assets€1.6m▼ 0.5%€1.8m▲ 12.1%€5.3m▲ 197%€5.3m▼ 0.3%€4.1m▼ 23.7%
Debt€682,196▼ 27.6%€525,023▼ 23.0%€1.2m▲ 130%€1.4m▲ 15.5%€149,473▼ 89.3%
Working capital€312,341▲ 3,254%€744,186▲ 138%€4.1m▲ 453%€3.9m▼ 5.0%€3.9m▼ 0.3%
Staff (FTE)12.3▲ 6.0%13.1▲ 6.5%11.2▼ 14.5%0▼ 100%0
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2022 Net result +711% on 2021. This fiscal year ran 18 months, the previous one 12.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10,582 in 2024 against €129,276 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €4.1m
Equity
€3.9m ▼ 0.3%
Debt
€149,473 ▼ 89.3%
Debt's share of the balance-sheet total falls from 26.3% to 3.7%. Equity and debt are lower.
Key figures and ratios
Current ratio
27.10▲
2023 · 3.81
Debt to equity
0.04▼
2023 · 0.36
ROE
-0.3%▲
2023 · -5.2%
ROA
-0.3%▲
2023 · -3.9%
Debt ≤ 1 year
€149,473▼
2023 · €1.4m
Income taxes
€0▼
2023 · €74,860
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €10,561 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | €565,332 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €144,370 | €148,666 | - | - | - | - |
| Other operating charges640/8 | - | - | €58,357 | €1,457 | €1,135 | ▼ 22.1% |
| Non-recurring operating charges66A | - | - | €539,185 | €2,138 | €0 | ▼ 100% |
| Gross operating margin9900 | €1.1m | €1.2m | €5.0m | -€125,681 | -€9,448 | ▲ 92.5% |
| Operating profit (loss)9901 | €394,605 | €507,256 | €3.8m | -€129,276 | -€10,582 | ▲ 91.8% |
| Financial income75/76B | - | - | €2,431 | €0 | - | - |
| Recurring financial income75 | €3,588 | €1,875 | €2,431 | €0 | - | - |
| Financial charges65/66B | - | - | €19,804 | €264 | €272 | ▲ 3.0% |
| Recurring financial charges65 | €22,910 | €28,240 | €19,804 | €264 | €272 | ▲ 3.0% |
| Profit (loss) for the period before taxes9903 | €375,283 | €480,892 | €3.8m | -€129,540 | -€10,854 | ▲ 91.6% |
| Income taxes67/77 | €122,945 | €129,612 | €929,860 | €74,860 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €252,338 | €351,280 | €2.8m | -€204,400 | -€10,854 | ▲ 94.7% |
| Profit (loss) for the period to be appropriated9905 | €252,338 | €351,280 | €2.8m | -€204,400 | -€10,854 | ▲ 94.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.8m | €5.3m | €5.3m | €4.1m | ▼ 23.7% |
| Fixed assets21/28 | €643,399 | €533,430 | - | - | - | - |
| Tangible fixed assets22/27 | €643,399 | €533,430 | - | - | - | - |
| Current assets29/58 | €955,095 | €1.3m | €5.3m | €5.3m | €4.1m | ▼ 23.7% |
| Amounts receivable after more than one year29 | - | - | - | €4.0m | €4.0m | ▲ 1.2% |
| Other amounts receivable291 | - | - | - | €4.0m | €4.0m | ▲ 1.2% |
| Stocks and contracts in progress3 | €261,582 | €201,385 | - | - | - | - |
| Amounts receivable within one year40/41 | €191,467 | €489,466 | €5.3m | €1.3m | €0 | ▼ 100% |
| Trade receivables40 | - | - | €3,908 | €3,807 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | €5.3m | €1.3m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €409,401 | €436,733 | €1,861 | €3,981 | €2,304 | ▼ 42.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.8m | €5.3m | €5.3m | €4.1m | ▼ 23.7% |
| Equity10/15 | €916,298 | €1.3m | €4.1m | €3.9m | €3.9m | ▼ 0.3% |
| Contributions10/11 | €370,000 | €370,000 | €370,000 | €370,000 | €370,000 | = |
| Capital10 | - | - | €370,000 | €370,000 | €370,000 | = |
| Issued capital100 | - | - | €370,000 | €370,000 | €370,000 | = |
| Reserves13 | €546,298 | €897,578 | €897,578 | €897,578 | €897,578 | = |
| Non-distributable reserves130/1 | - | - | €37,000 | €37,000 | €37,000 | = |
| Legal reserve130 | - | - | €37,000 | €37,000 | €37,000 | = |
| Distributable reserves133 | - | - | €860,578 | €860,578 | €860,578 | = |
| Profit (loss) carried forward14 | - | - | €2.8m | €2.6m | €2.6m | ▼ 0.4% |
| Amounts payable17/49 | €682,196 | €525,023 | €1.2m | €1.4m | €149,473 | ▼ 89.3% |
| Amounts payable after more than one year17 | €29,573 | - | - | - | - | - |
| Amounts payable within one year42/48 | €642,754 | €514,985 | €1.2m | €1.4m | €149,473 | ▼ 89.3% |
| Trade debts44 | €421,978 | €355,324 | €9,414 | €120,570 | €3,597 | ▼ 97.0% |
| Suppliers440/4 | - | - | €9,414 | €120,570 | €3,597 | ▼ 97.0% |
| Taxes, remuneration and social security45 | - | - | €855,037 | €928,622 | €145,876 | ▼ 84.3% |
| Taxes450/3 | - | - | €855,037 | €928,622 | €145,876 | ▼ 84.3% |
| Other amounts payable47/48 | - | - | €343,333 | €345,333 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €252,338 | €351,280 | €2.8m | -€204,400 | -€10,854 | ▲ 94.7% |
| + Depreciation and write-downs630 | €144,370 | €148,666 | - | - | - | - |
| Operating cash flow (approximation) | €396,708 | €499,946 | €2.8m | -€204,400 | -€10,854 | ▲ 94.7% |
| Investment in fixed assets (approximation) | - | -€38,697 | - | - | - | - |
| Change in cash | - | €27,332 | -€434,872 | €2,120 | -€1,677 | ▼ 179% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity times 7current ratio 27.10
Current ratio from 3.81 to 27.10; short-term debt falls from €1.4m to €149,473.
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€204,400
Net result drops to -€204,400, the lowest in the series.
14-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2019net €2.8m ▲711%
Operating result €3.8m, net result €2.8m, both a record.
31-12
Financial
Equity above €2mEq €4.1m ▲225%
4 profitable years in a row build equity to €4.1m.
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Equity above €1mEq €1.3m ▲38.3%
3 profitable years in a row build equity to €1.3m.
15-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
29-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Part of the group
TS 33
12 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
Highest known parent: TS 33. The sources do not say who stands above it.
Owners 1
- GINC-HOparentSourceaccounts GINC-HO 2024100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.