BEMO
InactiveInactive; last annual accounts for fiscal year 2021.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 09-08-2022, 9 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
9 d late
2020
5 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 15 days after 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)
Financials · fiscal year 2021, abbreviated schema
Equity
€43.9m▲ 3.5%
2020 · €42.4m
Total assets
€52.6m▲ 17.9%
2020 · €44.6m
Net result
€6.1m▲ 14.2%
2020 · €5.3m
Working capital
€20.1m▲ 8.1%
2020 · €18.6m
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
Line2018201920202021
Operating result€51,347-€16,745▼ 67.4%-€50,830-€157,106▼ 209%
Net result€3.6m-€6.8m▲ 88.1%€5.3m▼ 22.1%€6.1m▲ 14.2%
Equity€30.2m-€37.1m▲ 22.6%€42.4m▲ 14.4%€43.9m▲ 3.5%
Total assets€36.5m-€40.0m▲ 9.5%€44.6m▲ 11.6%€52.6m▲ 17.9%
Debt€6.3m-€2.9m▼ 53.5%€2.2m▼ 23.6%€8.7m▲ 291%
Working capital€9.9m-€15.0m▲ 52.0%€18.6m▲ 24.2%€20.1m▲ 8.1%
Staff (FTE)0.51▲ 100%1.2▲ 20.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €157,106 in 2021 against €50,830 in 2020; the loss grows and 2021 has the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €52.6m
Fixed assets
€27.4m ▲ 15.1%
Current assets
€25.2m ▲ 21.1%
Equity and liabilities €52.6m
Equity
€43.9m ▲ 3.5%
Debt
€8.7m ▲ 291%
Debt's share of the balance-sheet total rises from 5.0% to 16.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€681,761▲
2020 · €591,939
Cash flow
€6.9m▲
2020 · €6.0m
Current ratio
4.94▼
2020 · 9.34
Debt to equity
0.20
ROE
13.9%▲
2020 · 12.6%
ROA
11.6%▼
2020 · 11.9%
Interest coverage
1.58
Debt ≤ 1 year
€5.1m▲
2020 · €2.2m
Debt > 1 year
€3.6m
Income taxes
€24,481▼
2020 · €206,409
Staff costs
€26,977
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €26,977 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €604,002 | €613,488 | €642,769 | €838,867 | ▲ 30.5% |
| Other operating charges640/8 | - | - | - | €101,372 | - |
| Gross operating margin9900 | €820,209 | €759,696 | €777,540 | €810,109 | ▲ 4.2% |
| Operating profit (loss)9901 | €51,347 | €16,745 | -€50,830 | -€157,106 | ▼ 209% |
| Financial income75/76B | - | - | - | €6.7m | - |
| Recurring financial income75 | €5.2m | €7.2m | €6.4m | €6.7m | ▲ 5.2% |
| Financial charges65/66B | - | - | - | €432,358 | - |
| Recurring financial charges65 | €1.6m | €23,029 | €779,390 | €432,358 | ▼ 44.5% |
| Profit (loss) for the period before taxes9903 | €3.7m | €7.2m | €5.5m | €6.1m | ▲ 10.4% |
| Income taxes67/77 | €15,999 | €344,093 | €206,409 | €24,481 | ▼ 88.1% |
| Profit (loss) for the period9904 | €3.6m | €6.8m | €5.3m | €6.1m | ▲ 14.2% |
| Profit (loss) for the period to be appropriated9905 | €3.6m | €6.8m | €5.3m | €6.1m | ▲ 14.2% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €36.5m | €40.0m | €44.6m | €52.6m | ▲ 17.9% |
| Fixed assets21/28 | €21.4m | €22.1m | €23.8m | €27.4m | ▲ 15.1% |
| Tangible fixed assets22/27 | €17.6m | €18.3m | €20.0m | €23.6m | ▲ 18.0% |
| Land and buildings22 | - | - | - | €22.0m | - |
| Furniture and vehicles24 | - | - | - | €1.6m | - |
| Financial fixed assets28 | €3.8m | €3.8m | €3.8m | €3.8m | = |
| Current assets29/58 | €15.1m | €17.9m | €20.8m | €25.2m | ▲ 21.1% |
| Amounts receivable within one year40/41 | €6.9m | €7.7m | €12.4m | €10.6m | ▼ 14.0% |
| Trade receivables40 | - | - | - | €48,374 | - |
| Other amounts receivable41 | - | - | - | €10.6m | - |
| Current investments50/53 | €4.3m | €4.4m | €7.1m | €7.5m | ▲ 5.1% |
| Cash at bank and in hand54/58 | €3.9m | €5.6m | €1.1m | €6.9m | ▲ 527% |
| Deferred charges and accrued income490/1 | - | - | - | €189,600 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €36.5m | €40.0m | €44.6m | €52.6m | ▲ 17.9% |
| Equity10/15 | €30.2m | €37.1m | €42.4m | €43.9m | ▲ 3.5% |
| Contributions10/11 | €80,000 | €80,000 | €80,000 | €80,000 | = |
| Capital10 | - | - | - | €80,000 | - |
| Issued capital100 | - | - | - | €80,000 | - |
| Reserves13 | €10.3m | €10.3m | €12.3m | €7.7m | ▼ 37.4% |
| Non-distributable reserves130/1 | - | - | - | €188,000 | - |
| Legal reserve130 | - | - | - | €188,000 | - |
| Distributable reserves133 | - | - | - | €7.5m | - |
| Profit (loss) carried forward14 | €19.8m | €26.7m | €30.0m | €36.1m | ▲ 20.3% |
| Amounts payable17/49 | €6.3m | €2.9m | €2.2m | €8.7m | ▲ 291% |
| Amounts payable after more than one year17 | €1.0m | - | - | €3.6m | - |
| Financial debts170/4 | - | - | - | €3.6m | - |
| Amounts payable within one year42/48 | €5.3m | €2.9m | €2.2m | €5.1m | ▲ 129% |
| Current portion of amounts payable after more than one year42 | - | - | - | €400,000 | - |
| Trade debts44 | €16,004 | €1,740 | €50,117 | €8,016 | ▼ 84.0% |
| Suppliers440/4 | - | - | - | €8,016 | - |
| Taxes, remuneration and social security45 | - | - | - | €62,202 | - |
| Taxes450/3 | - | - | - | €59,213 | - |
| Remuneration and social security454/9 | - | - | - | €2,989 | - |
| Other amounts payable47/48 | - | - | - | €4.6m | - |
| Accrued charges and deferred income492/3 | - | - | - | €21,867 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3.6m | €6.8m | €5.3m | €6.1m | ▲ 14.2% |
| + Depreciation and write-downs630 | €604,002 | €613,488 | €642,769 | €838,867 | ▲ 30.5% |
| Operating cash flow (approximation) | €4.2m | €7.5m | €6.0m | €6.9m | ▲ 16.0% |
| Investment in fixed assets (approximation) | - | -€1.3m | -€2.3m | -€4.4m | ▼ 89.7% |
| Change in cash | - | €1.7m | -€4.5m | €5.8m | ▲ 230% |
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
2023
10-01
State Gazette act
Director resignation · Director appointment
Permanent representative
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 9 days late
29-07
State Gazette act
Director resignation · Director appointment
Permanent representative
08-07
State Gazette act
General meeting · Demerger
Dissolution · Accounting effect · Eline Heck
27-04
State Gazette act
Merger · Accounting effect
Power of attorney · Real estate
15-04
State Gazette act
Incorporation · Founder
Founding capital · Corporate purpose
15-04
State Gazette act
Incorporation · Founder
Founding capital · Corporate purpose
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 5 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Highest result since 2018net €6.8m ▲88.1%
Net result €6.8m, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 6.14
Current ratio from 2.87 to 6.14; short-term debt falls from €5.3m to €2.9m.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 12 days late
Show earlier events
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 8 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
11-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 11 days late
2015
20-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 20 days late
2014
06-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 6 days late
2013
21-08
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 21 days late
2012
13-07
State Gazette act
General meeting · Director appointment
Permanent representative · Board meeting
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
Recognitions · licences · registrations
Legal Entity Identifier
529900D9TB6Z3LPO4Z85