CARMA
Open bankruptcyFinancials · financial year 2023, micro format
2023 annual accounts filed 84 days after the deadline Filed on 23 October 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00515066.
Annual accounts 2023 filed on 23-10-2024 PDF all 16 filings
Equity
€218,809▼ 15.2%
2022 · €258,030
Total assets
€633,928▲ 10.2%
2022 · €575,342
Net result
-€39,221
2022 · €8,312
Working capital
€231,745▼ 13.7%
2022 · €268,563
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
-€35,347
2023
20182023
Net result
-€39,221
2023
lowest quarter of the sector
20182023
Equity
€218,809
▼ 15.2%
2023
middle half of the sector
20182023
Total assets
€633,928
▲ 10.2%
2023
middle half of the sector
20182023
Debt
€415,119
▲ 30.8%
2023
20182023
Working capital
€231,745
▼ 13.7%
2023
highest quarter of the sector
20182023
Solvency
34.5%
▼ 10.3pp
2023
middle half of the sector
20182023
Current ratio
1.77
▼ 0.55
2023
middle half of the sector
20182023
Return on assets (ROA)
-6.2%
▼ 7.6pp
2023
lowest quarter of the sector
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€14,624-€883▼ 94.0%-€4,027€16,519€34,332▲ 108%-€35,347
Net result€15,242--€3,360-€7,698within the sector's middle half▼ 129%€7,975within the sector's middle half€8,312within the sector's middle half▲ 4.2%-€39,221below the sector's middle half
Equity€252,801-€249,441▼ 1.3%€241,743within the sector's middle half▼ 3.1%€249,718within the sector's middle half▲ 3.3%€258,030within the sector's middle half▲ 3.3%€218,809within the sector's middle half▼ 15.2%
Total assets€866,447-€606,362▼ 30.0%€627,918within the sector's middle half▲ 3.6%€673,198within the sector's middle half▲ 7.2%€575,342within the sector's middle half▼ 14.5%€633,928within the sector's middle half▲ 10.2%
Debt€613,646-€356,921▼ 41.8%€386,175▲ 8.2%€423,480▲ 9.7%€317,312▼ 25.1%€415,119▲ 30.8%
Working capital€270,196-€276,309▲ 2.3%€258,928above the sector's middle half▼ 6.3%€290,350above the sector's middle half▲ 12.1%€268,563above the sector's middle half▼ 7.5%€231,745above the sector's middle half▼ 13.7%
Solvency29.2%-41.1%▲ 12.0pp38.5%within the sector's middle half▼ 2.6pp37.1%within the sector's middle half▼ 1.4pp44.8%within the sector's middle half▲ 7.8pp34.5%within the sector's middle half▼ 10.3pp
Current ratio1.61-2.38▲ 0.772.07within the sector's middle half▼ 0.312.09within the sector's middle half▲ 0.022.32within the sector's middle half▲ 0.231.77within the sector's middle half▼ 0.55
Return on assets (ROA)1.8%--0.6%▼ 2.3pp-1.2%within the sector's middle half▼ 0.7pp1.2%within the sector's middle half▲ 2.4pp1.4%within the sector's middle half▲ 0.3pp-6.2%below the sector's middle half▼ 7.6pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 €35,347, after a profit of €34,332 in 2022. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €633,928
Fixed assets
€101,132 ▼ 2.3%
Current assets
€532,796 ▲ 12.9%
Equity and liabilities €633,928
Equity
€218,809 ▼ 15.2%
Debt
€415,119 ▲ 30.8%
Debt's share of the balance-sheet total rises from 55.2% to 65.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€30,395▼
2022 · €47,077
Cash flow
-€34,269▼
2022 · €21,057
Quick ratio
1.59▼
2022 · 2.16
Debt to equity
1.90▲
2022 · 1.23
ROE
-17.9%▼
2022 · 3.2%
Interest coverage
-3.45▼
2022 · 4.06
Debt ≤ 1 year
€301,051▲
2022 · €203,244
Debt > 1 year
€114,068=
2022 · €114,068
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €7,702 | - | €2,549 |
| Depreciation and write-downs of the year | €18,326 | €12,745 | €4,952 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,572 | €21,629 | €16,616 | €18,326 | €12,745 | €4,952 | ▼ 61.1% |
| Other operating charges640/8 | - | - | - | €4,613 | €2,497 | €3,441 | ▲ 37.8% |
| Gross operating margin9900 | €56,073 | €23,632 | €16,263 | €39,458 | €49,574 | -€26,954 | - |
| Operating profit (loss)9901 | €14,624 | €883 | -€4,027 | €16,519 | €34,332 | -€35,347 | - |
| Financial income75/76B | - | - | - | €573 | €1,120 | €4,927 | ▲ 340% |
| Recurring financial income75 | €11,048 | €9,118 | €3,262 | €573 | €1,120 | €4,927 | ▲ 340% |
| Financial charges65/66B | - | - | - | €9,117 | €12,140 | €8,801 | ▼ 27.5% |
| Recurring financial charges65 | €10,428 | €8,361 | €6,933 | €8,061 | €11,587 | €8,801 | ▼ 24.0% |
| Non-recurring financial charges66B | - | - | - | €1,056 | €553 | - | - |
| Profit (loss) for the period before taxes9903 | €15,244 | €1,640 | -€7,698 | €7,975 | €23,312 | -€39,221 | - |
| Income taxes67/77 | €2 | €5,000 | - | - | €15,000 | - | - |
| Profit (loss) for the period9904 | €15,242 | -€3,360 | -€7,698 | €7,975 | €8,312 | -€39,221 | - |
| Profit (loss) for the period to be appropriated9905 | €15,242 | -€3,360 | -€7,698 | €7,975 | €8,312 | -€39,221 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €866,447 | €606,362 | €627,918 | €673,198 | €575,342 | €633,928 | ▲ 10.2% |
| Fixed assets21/28 | €151,133 | €129,504 | €126,363 | €115,739 | €103,535 | €101,132 | ▼ 2.3% |
| Tangible fixed assets22/27 | €151,133 | €129,504 | €126,363 | €115,739 | €103,535 | €101,132 | ▼ 2.3% |
| Land and buildings22 | - | - | - | €98,200 | €90,406 | €90,406 | = |
| Plant, machinery and equipment23 | - | - | - | €6,473 | €4,463 | €1,910 | ▼ 57.2% |
| Furniture and vehicles24 | - | - | - | €11,066 | €8,666 | €8,816 | ▲ 1.7% |
| Current assets29/58 | €715,314 | €476,858 | €501,555 | €557,459 | €471,807 | €532,796 | ▲ 12.9% |
| Amounts receivable after more than one year29 | - | - | - | €302,419 | €303,661 | €333,376 | ▲ 9.8% |
| Other amounts receivable291 | - | - | - | €302,419 | €303,661 | €333,376 | ▲ 9.8% |
| Stocks and contracts in progress3 | €1,500 | €1,500 | €1,500 | €1,500 | €32,920 | €54,360 | ▲ 65.1% |
| Stocks30/36 | - | - | - | €1,500 | €32,920 | €54,360 | ▲ 65.1% |
| Amounts receivable within one year40/41 | €558,206 | €171,986 | €182,025 | €253,540 | €98,776 | €99,224 | ▲ 0.5% |
| Trade receivables40 | - | - | - | €137,875 | €94,002 | €67,351 | ▼ 28.4% |
| Other amounts receivable41 | - | - | - | €115,665 | €4,774 | €31,873 | ▲ 568% |
| Cash at bank and in hand54/58 | €15,301 | €953 | - | - | - | €8,669 | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €36,450 | €37,167 | ▲ 2.0% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €866,447 | €606,362 | €627,918 | €673,198 | €575,342 | €633,928 | ▲ 10.2% |
| Equity10/15 | €252,801 | €249,441 | €241,743 | €249,718 | €258,030 | €218,809 | ▼ 15.2% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €244,741 | €241,381 | €233,683 | €241,658 | €249,970 | €210,749 | ▼ 15.7% |
| Amounts payable17/49 | €613,646 | €356,921 | €386,175 | €423,480 | €317,312 | €415,119 | ▲ 30.8% |
| Amounts payable after more than one year17 | €168,528 | €156,372 | €143,548 | €156,371 | €114,068 | €114,068 | = |
| Financial debts170/4 | - | - | - | €156,371 | €114,068 | €114,068 | = |
| Amounts payable within one year42/48 | €445,118 | €200,549 | €242,627 | €267,109 | €203,244 | €301,051 | ▲ 48.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €129,655 | €6,564 | €6,114 | ▼ 6.9% |
| Financial debts43 | - | - | - | - | €166,708 | €175,000 | ▲ 5.0% |
| Credit institutions430/8 | - | - | - | €0 | €166,708 | €175,000 | ▲ 5.0% |
| Trade debts44 | €250,803 | €21,200 | €17,668 | €22,142 | - | €79,765 | - |
| Suppliers440/4 | - | - | - | €22,142 | - | €79,765 | - |
| Taxes, remuneration and social security45 | - | - | - | €99,010 | €533 | €533 | = |
| Taxes450/3 | - | - | - | €86,980 | €533 | €533 | = |
| Remuneration and social security454/9 | - | - | - | €12,030 | - | - | - |
| Other amounts payable47/48 | - | - | - | €16,302 | €29,439 | €39,639 | ▲ 34.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,242 | -€3,360 | -€7,698 | €7,975 | €8,312 | -€39,221 | - |
| + Depreciation and write-downs630 | €40,572 | €21,629 | €16,616 | €18,326 | €12,745 | €4,952 | ▼ 61.1% |
| Operating cash flow (approximation) | €55,814 | €18,269 | €8,918 | €26,301 | €21,057 | -€34,269 | - |
| Investment in fixed assets (approximation) | - | €0 | -€13,475 | -€7,702 | -€541 | -€2,549 | ▼ 371% |
| Change in cash | - | -€14,348 | - | - | - | - | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 23-10-2024 | 2024-00515066 | |
| 31-12-2022 | micro format | 11-12-2023 | 2023-00528982 | |
| 31-12-2021 | micro format | 20-10-2022 | 2022-20467688 | |
| 31-12-2020 | micro format | 14-03-2022 | 2022-07900213 | |
| 31-12-2019 | micro format | 11-03-2021 | 2021-07300563 | |
| 31-12-2018 | micro format | 25-11-2019 | 2019-74300094 | |
| 31-12-2017 | micro format | 31-10-2018 | 2018-71500008 | |
| 31-12-2016 | micro format | 12-10-2017 | 2017-67200453 | |
| 31-12-2015 | abbreviated format | 27-01-2017 | 2017-03400260 | |
| 31-12-2014 | abbreviated format | 07-10-2015 | 2015-64200595 |