CAKE
Open bankruptcyFinancials · financial year 2023, abbreviated format
2023 annual accounts filed 34 days after the deadline Filed on 3 September 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00438930.
Annual accounts 2023 filed on 03-09-2024 PDF all 4 filings
Equity
€208,898▼ 72.7%
2022 · €764,958
Net result
-€1.1m▲ 67.9%
2022 · -€3.3m
Total assets
€1.9m▲ 52.3%
2022 · €1.3m
Solvency
10.9%▼ 49.8pp
2022 · 60.6%
Multi-year overview
2020 to 2023, 4 financial yearsOperating result
-€1.0m
▲ 68.9%
2023
20202023
Net result
-€1.1m
▲ 67.9%
2023
lowest quarter of the sector
20202023
Equity
€208,898
▼ 72.7%
2023
middle half of the sector
20202023
Total assets
€1.9m
▲ 52.3%
2023
middle half of the sector
20202023
Debt
€1.7m
▲ 245%
2023
20202023
Working capital
€1.2m
▲ 20.7%
2023
highest quarter of the sector
20202023
Solvency
10.9%
▼ 49.8pp
2023
lowest quarter of the sector
20202023
Current ratio
2.71
▼ 2.28
2023
middle half of the sector
20202023
Return on assets (ROA)
-55.0%
▲ 206.2pp
2023
lowest quarter of the sector
20202023
Staff (FTE)
3.1
▼ 47.5%
2023
highest quarter of the sector
20202023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2020202120222023
Operating result-€3.5m--€5.2m▼ 45.5%-€3.3m▲ 36.7%-€1.0m▲ 68.9%
Net result-€3.6mbelow the sector's middle half--€5.2mbelow the sector's middle half▼ 45.7%-€3.3mbelow the sector's middle half▲ 36.4%-€1.1mbelow the sector's middle half▲ 67.9%
Equity€0.2mwithin the sector's middle half--€0.3mbelow the sector's middle half€0.8mwithin the sector's middle half€0.2mwithin the sector's middle half▼ 72.7%
Total assets€1.0mwithin the sector's middle half-€0.9mwithin the sector's middle half▼ 13.8%€1.3mwithin the sector's middle half▲ 47.3%€1.9mwithin the sector's middle half▲ 52.3%
Debt€0.8m-€1.2m▲ 49.5%€0.5m▼ 58.5%€1.7m▲ 245%
Working capital€0.4mabove the sector's middle half-€0.2mwithin the sector's middle half▼ 54.2%€1.0mabove the sector's middle half▲ 413%€1.2mabove the sector's middle half▲ 20.7%
Solvency19.4%below the sector's middle half--39.7%below the sector's middle half▼ 59.2pp60.6%within the sector's middle half▲ 100.4pp10.9%below the sector's middle half▼ 49.8pp
Current ratio1.77within the sector's middle half-1.30within the sector's middle half▼ 0.474.99above the sector's middle half▲ 3.692.71within the sector's middle half▼ 2.28
Return on assets (ROA)-358.1%below the sector's middle half--605.4%below the sector's middle half▼ 247.3pp-261.2%below the sector's middle half▲ 344.2pp-55.0%below the sector's middle half▲ 206.2pp
Staff (FTE)3.6within the sector's middle half-8.4above the sector's middle half▲ 133%5.9above the sector's middle half▼ 29.8%3.1above the sector's middle half▼ 47.5%
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 2023 is a loss of €1.0m, smaller than the loss of €3.3m in 2022.
Large changes and their cause
- 2023 Total assets +52% on 2022. Capital increase of €500,000 (Official Gazette 06-10-2023). Capital increase of €500,000 (Official Gazette 06-10-2023).
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €1.9m
Fixed assets
€6,564 ▼ 28.8%
Current assets
€1.9m ▲ 52.9%
Equity and liabilities €1.9m
Equity
€208,898 ▼ 72.7%
Debt
€1.7m ▲ 245%
Debt's share of the balance-sheet total rises from 39.4% to 89.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-505.5%▼
2022 · -430.7%
Debt ≤ 1 year
€705,796▲
2022 · €250,964
Debt > 1 year
€1.0m
Income taxes
€378▼
2022 · €650
Staff costs
€342,557▼
2022 · €498,246
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 9 | 7 | 1 |
| full-time | 9 | 7 | 1 |
| part-time | - | 0 | 0 |
| in full-time equivalents | 9 | 7 | 1 |
| Average over the year, in full-time equivalents | 8.4 | 5.9 | 3.1 |
| On a permanent contract | 9 | 7 | 1 |
| Joined | 7 | 4 | 1 |
| Left | 3 | 6 | 7 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €9,436 | €2,809 | €3,148 |
| Financial fixed assets | €750 | - | - |
| Depreciation and write-downs of the year | €8,938 | €7,124 | €5,809 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0.01m | €0.001m | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €0.6m | €0.5m | €0.3m | ▼ 31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.009m | €0.007m | €0.006m | ▼ 18.5% |
| Other operating charges640/8 | - | €348 | €0.001m | €0.003m | ▲ 197% |
| Non-recurring operating charges66A | - | €0.002m | €0 | - | - |
| Gross operating margin9900 | -€3.2m | -€4.6m | -€2.8m | -€0.7m | ▲ 75.9% |
| Operating profit (loss)9901 | -€3.5m | -€5.2m | -€3.3m | -€1.0m | ▲ 68.9% |
| Financial income75/76B | - | €33 | €335 | €0.06m | ▲ 174× |
| Recurring financial income75 | €471 | €33 | €335 | €0.06m | ▲ 174× |
| Financial charges65/66B | - | €0.03m | €0.03m | €0.1m | ▲ 208% |
| Recurring financial charges65 | €0.01m | €0.03m | €0.03m | €0.1m | ▲ 208% |
| Profit (loss) for the period before taxes9903 | -€3.6m | -€5.2m | -€3.3m | -€1.1m | ▲ 68.0% |
| Income taxes67/77 | €0.001m | €0.001m | €0.001m | €378 | ▼ 41.7% |
| Profit (loss) for the period9904 | -€3.6m | -€5.2m | -€3.3m | -€1.1m | ▲ 67.9% |
| Profit (loss) for the period to be appropriated9905 | -€3.6m | -€5.2m | -€3.3m | -€1.1m | ▲ 67.9% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.0m | €0.9m | €1.3m | €1.9m | ▲ 52.3% |
| Fixed assets21/28 | €0.02m | €0.01m | €0.009m | €0.007m | ▼ 28.8% |
| Tangible fixed assets22/27 | €0.02m | €0.01m | €0.008m | €0.006m | ▼ 31.4% |
| Furniture and vehicles24 | - | €0.01m | €0.008m | €0.006m | ▼ 31.4% |
| Financial fixed assets28 | - | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €1.0m | €0.8m | €1.3m | €1.9m | ▲ 52.9% |
| Amounts receivable within one year40/41 | €0.3m | €0.5m | €0.2m | €1.8m | ▲ 952% |
| Trade receivables40 | - | €0.1m | €0.05m | €0.6m | ▲ 13× |
| Other amounts receivable41 | - | €0.4m | €0.1m | €1.1m | ▲ 833% |
| Cash at bank and in hand54/58 | €0.6m | €0.2m | €1.1m | €0.1m | ▼ 87.5% |
| Deferred charges and accrued income490/1 | - | €0.09m | €0.02m | €0.03m | ▲ 12.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €1.3m | €1.9m | ▲ 52.3% |
| Equity10/15 | €0.2m | -€0.3m | €0.8m | €0.2m | ▼ 72.7% |
| Contributions10/11 | €3.8m | €8.4m | €12.8m | €13.3m | ▲ 3.9% |
| Capital10 | - | €8.4m | €12.8m | €13.3m | ▲ 3.9% |
| Issued capital100 | - | €8.4m | €12.8m | €13.3m | ▲ 3.9% |
| Profit (loss) carried forward14 | -€3.6m | -€8.7m | -€12.0m | -€13.1m | ▼ 8.8% |
| Amounts payable17/49 | €0.8m | €1.2m | €0.5m | €1.7m | ▲ 245% |
| Amounts payable after more than one year17 | - | - | - | €1.0m | - |
| Financial debts170/4 | - | - | - | €1.0m | - |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.3m | €0.7m | ▲ 181% |
| Trade debts44 | €0.5m | €0.6m | €0.2m | €0.2m | ▲ 11.2% |
| Suppliers440/4 | - | €0.6m | €0.2m | €0.2m | ▲ 11.2% |
| Taxes, remuneration and social security45 | - | €0.05m | €0.04m | €0.003m | ▼ 93.1% |
| Taxes450/3 | - | €0.006m | €0.002m | €378 | ▼ 79.7% |
| Remuneration and social security454/9 | - | €0.05m | €0.04m | €0.002m | ▼ 93.8% |
| Other amounts payable47/48 | - | €0.007m | €0.007m | €0.5m | ▲ 68× |
| Accrued charges and deferred income492/3 | - | €0.5m | €0.2m | €0.006m | ▼ 97.4% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3.6m | -€5.2m | -€3.3m | -€1.1m | ▲ 67.9% |
| + Depreciation and write-downs630 | €0.02m | €0.009m | €0.007m | €0.006m | ▼ 18.5% |
| Operating cash flow (approximation) | -€3.5m | -€5.2m | -€3.3m | -€1.1m | ▲ 68.1% |
| Investment in fixed assets (approximation) | - | -€0.006m | -€0.003m | -€0.003m | ▼ 12.1% |
| Change in cash | - | -€0.4m | €0.8m | -€0.9m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.