AZAE - PROXY SERVICES
InactiveFinancials · financial year 2021, full format
Annual accounts 2021 filed on 15-07-2022 PDF all 15 filings
Turnover
€8.3m▲ 8.0%
2020 · €7.7m
EBIT margin
0.8%▲ 0.4pp
2020 · 0.4%
Net result
€16,158
2020 · -€13,482
Working capital
-€179,816▲ 29.5%
2020 · -€255,037
Multi-year overview
2018 to 2021, 4 financial yearsTurnover
€8.3m
▲ 8.0%
2021
20182021
Operating result
€70,555
▲ 107%
2021
20182021
Net result
€16,158
2021
20182021
EBIT margin
0.8%
▲ 0.4pp
2021
20182021
Equity
€329,513
▲ 5.2%
2021
20182021
Total assets
€2.0m
▼ 15.2%
2021
20182021
Debt
€1.6m
▼ 18.8%
2021
20182021
Working capital
-€179,816
▲ 29.5%
2021
20182021
Staff (FTE)
315.5
▼ 2.2%
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Turnover€8.6m-€9.1m▲ 6.3%€7.7m▼ 15.5%€8.3m▲ 8.0%
Operating result€0.1m-€0.05m▼ 47.3%€0.03m▼ 37.7%€0.07m▲ 107%
Net result€0.03m--€0.009m-€0.01m▼ 48.3%€0.02m
EBIT margin1.2%-0.6%▼ 0.6pp0.4%▼ 0.2pp0.8%▲ 0.4pp
Equity€0.3m-€0.3m▼ 2.7%€0.3m▼ 4.1%€0.3m▲ 5.2%
Total assets€2.3m-€2.2m▼ 6.0%€2.3m▲ 8.5%€2.0m▼ 15.2%
Debt€1.9m-€1.8m▼ 6.7%€2.0m▲ 11.0%€1.6m▼ 18.8%
Working capital-€0.6m--€0.4m▲ 35.9%-€0.3m▲ 29.7%-€0.2m▲ 29.5%
Staff (FTE)303-331▲ 9.2%322.7▼ 2.5%315.5▼ 2.2%
The operating result for 2021 is 107% higher than in 2020. It is a recovery after the fall in 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €2.0m
Fixed assets
€698,464 ▼ 15.5%
Current assets
€1.3m ▼ 15.0%
Equity and liabilities €2.0m
Equity
€329,513 ▲ 5.2%
Provisions
€48,000 =
Debt
€1.6m ▼ 18.8%
Debt's share of the balance-sheet total falls from 84.5% to 80.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€236,905▲
2020 · €221,397
Cash flow
€182,508▲
2020 · €173,886
Current ratio
0.88▲
2020 · 0.86
Debt to equity
4.86▲
2020 · 0.67
ROE
4.9%▲
2020 · -4.3%
ROA
0.8%▲
2020 · -0.6%
Interest coverage
6.43▲
2020 · 5.88
Debt ≤ 1 year
€1.5m▼
2020 · €1.8m
Debt > 1 year
€141,135▼
2020 · €210,348
Income taxes
€18,780▲
2020 · €10,362
Customer credit
17 days▼
2020 · 54 days
Staff costs
€7.5m
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 | 546 |
| full-time | 20 |
| part-time | 526 |
| in full-time equivalents | 320.2 |
| Average over the year, in full-time equivalents | 315.5 |
| On a permanent contract | 535 |
| Joined | 95 |
| Left | 78 |
| Training hours | 509 |
Source: social balance sheet in the 2021 annual accounts
Securities and guarantees
| Item | 2021 |
|---|---|
| Debts secured on the company's own assets | €210,348 |
| Mortgages, amount registered | €184,000 |
| Carrying value of the mortgaged assets | €143,989 |
| Pledge on the business | €1.9m |
Source: notes to the 2021 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €19,725 |
| Intangible fixed assets | €20,424 |
| Depreciation and write-downs of the year | €166,350 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 |
|---|---|
| Fee for the audit | €14,143 |
Source: notes to the 2021 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €6,962 awarded · €6,962 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €900 | €900 |
| 2023 | 1 | €575 | €575 |
| 2022 | 1 | €5,487 | €5,487 |
Schemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €8.7m | - |
| Turnover70 | €8.6m | €9.1m | €7.7m | €8.3m | ▲ 8.0% |
| Other operating income74 | - | - | - | €0.2m | - |
| Non-recurring operating income76A | - | - | - | €0.2m | - |
| Operating charges60/66A | - | - | - | €8.6m | - |
| Services and other goods61 | - | - | - | €0.9m | - |
| Remuneration, social security and pensions62 | - | - | - | €7.5m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.01m | - |
| Other operating charges640/8 | - | - | - | €0.03m | - |
| Non-recurring operating charges66A | - | - | - | €0.001m | - |
| Operating profit (loss)9901 | €0.1m | €0.05m | €0.03m | €0.07m | ▲ 107% |
| Financial income75/76B | - | - | - | €0.001m | - |
| Recurring financial income75 | €0.001m | €0.002m | €0.001m | €0.001m | ▲ 108% |
| Income from financial fixed assets750 | - | - | - | €354 | - |
| Income from current assets751 | - | - | - | €8 | - |
| Other financial income752/9 | - | - | - | €0.001m | - |
| Financial charges65/66B | - | - | - | €0.04m | - |
| Recurring financial charges65 | €0.05m | €0.05m | €0.04m | €0.04m | ▼ 2.3% |
| Debt charges650 | €0.05m | €0.05m | €0.04m | €0.04m | ▼ 2.2% |
| Other financial charges652/9 | - | - | - | €74 | - |
| Profit (loss) for the period before taxes9903 | €0.06m | €0.006m | -€0.003m | €0.03m | - |
| Income taxes67/77 | €0.03m | €0.02m | €0.01m | €0.02m | ▲ 81.2% |
| Taxes670/3 | - | - | - | €0.02m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €121 | - |
| Profit (loss) for the period9904 | €0.03m | -€0.009m | -€0.01m | €0.02m | - |
| Profit (loss) for the period to be appropriated9905 | €0.03m | -€0.009m | -€0.01m | €0.02m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.3m | €2.2m | €2.3m | €2.0m | ▼ 15.2% |
| Formation expenses20 | €283 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €1.4m | €1.0m | €0.8m | €0.7m | ▼ 15.5% |
| Intangible fixed assets21 | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 25.5% |
| Tangible fixed assets22/27 | €0.9m | €0.5m | €0.5m | €0.4m | ▼ 9.4% |
| Land and buildings22 | - | - | - | €0.3m | - |
| Plant, machinery and equipment23 | - | - | - | €0.07m | - |
| Furniture and vehicles24 | - | - | - | €0.03m | - |
| Other tangible fixed assets26 | - | - | - | €0.06m | - |
| Assets under construction and advance payments27 | - | - | - | €0 | - |
| Financial fixed assets28 | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 4.1% |
| Other financial fixed assets284/8 | - | - | - | €0.02m | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.02m | - |
| Current assets29/58 | €0.9m | €1.1m | €1.5m | €1.3m | ▼ 15.0% |
| Amounts receivable within one year40/41 | €0.6m | €0.6m | €1.1m | €0.9m | ▼ 25.3% |
| Trade receivables40 | - | - | - | €0.4m | - |
| Other amounts receivable41 | - | - | - | €0.5m | - |
| Cash at bank and in hand54/58 | €0.3m | €0.5m | €0.4m | €0.4m | ▲ 15.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.3m | €2.2m | €2.3m | €2.0m | ▼ 15.2% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 5.2% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | - |
| Issued capital100 | - | - | - | €0.1m | - |
| Revaluation surpluses12 | - | - | - | €0.1m | - |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | - |
| Legal reserve130 | - | - | - | €0.01m | - |
| Profit (loss) carried forward14 | €0.09m | €0.08m | €0.07m | €0.09m | ▲ 23.0% |
| Provisions and deferred taxes16 | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.05m | - |
| Other liabilities and charges164/5 | - | - | - | €0.05m | - |
| Amounts payable17/49 | €1.9m | €1.8m | €2.0m | €1.6m | ▼ 18.8% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 32.9% |
| Financial debts170/4 | - | - | - | €0.1m | - |
| Credit institutions173 | - | - | - | €0.1m | - |
| Amounts payable within one year42/48 | €1.5m | €1.5m | €1.8m | €1.5m | ▼ 17.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | - |
| Financial debts43 | - | - | - | €0.2m | - |
| Credit institutions430/8 | - | - | - | €0.2m | - |
| Trade debts44 | €0.1m | €0.1m | €0.06m | €0.1m | ▲ 163% |
| Suppliers440/4 | - | - | - | €0.1m | - |
| Taxes, remuneration and social security45 | - | - | - | €1.0m | - |
| Taxes450/3 | - | - | - | €0.05m | - |
| Remuneration and social security454/9 | - | - | - | €1.0m | - |
| Other amounts payable47/48 | - | - | - | €0.002m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,998 | -€9,094 | -€13,482 | €16,158 | - |
| + Depreciation and write-downs630 | €207,587 | €198,092 | €187,368 | €166,350 | ▼ 11.2% |
| Operating cash flow (approximation) | €237,585 | €188,998 | €173,886 | €182,508 | ▲ 5.0% |
| Investment in fixed assets (approximation) | - | €160,495 | -€13,159 | -€38,074 | ▼ 189% |
| Change in cash | - | €190,247 | -€176,366 | €53,815 | - |
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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | full format | 15-07-2022 | 2022-20236231 | |
| 31-12-2020 | full format | 13-07-2021 | 2021-35000359 | |
| 31-12-2019 | full format | 17-07-2020 | 2020-32000129 | |
| 31-12-2018 | full format | 27-06-2019 | 2019-27300277 | |
| 31-12-2017 | full format | 13-06-2018 | 2018-18200516 | |
| 31-12-2016 | full format | 08-08-2017 | 2017-42600408 | |
| 31-12-2015 | full format | 07-06-2016 | 2016-15900345 | |
| 31-12-2014 | full format | 29-09-2015 | 2015-63200358 | |
| 31-12-2013 | full format | 21-08-2014 | 2014-45400162 | |
| 31-12-2012 | full format | 24-07-2013 | 2013-34500238 |