CHALLENGE PROJECTS
Open bankruptcyFinancials · financial year 2012, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€1.0m
2011 · €215,861
Working capital
-€346,600▲ 23.1%
2011 · -€450,499
Trend over the years
2008 to 2012, 5 financial years 2008 to 2012, 5 financial years
The operating result stays negative: a loss of €251,659 in 2012 against €24,090 in 2011; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.3m
2012
Net result-€1.0m
2012
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.5m
2012
Equity-€0.3m
2012
Debt€0.8m
2012
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.3m
2012
Average staff in full-time equivalents (FTE).
Staff (FTE)9.3
2012
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20082009201020112012
Operating result€0.2m--€0.02m-€0.8m▼ 3,024%-€0.02m▲ 96.9%-€0.3m▼ 945%
Net result€0.008m--€0.04m-€0.9m▼ 2,192%€0.2m-€1.0m
Equity€0.4m-€1.2m▲ 178%€0.4m▼ 70.7%€0.7m▲ 101%-€0.3m
Total assets€2.5m-€3.4m▲ 36.9%€2.5m▼ 25.9%€2.4m▼ 3.6%€0.5m▼ 77.9%
Debt€2.0m-€2.2m▲ 6.7%€2.1m▼ 0.8%€1.7m▼ 22.4%€0.8m▼ 51.7%
Working capital-€0.2m--€0.4m▼ 93.0%-€1.0m▼ 133%-€0.5m▲ 53.4%-€0.3m▲ 23.1%
Staff (FTE)15.6-15.6=10▼ 35.9%13▲ 30.0%9.3▼ 28.5%
Balance-sheet composition
2012 in colour, 2011 as the grey bar beneath
Assets €537,474
Fixed assets
€102,050 ▼ 92.0%
Current assets
€435,424 ▼ 62.1%
Equity and liabilities
Equity-€316,780
Debt€799,253
Equity is negative: debt (€799,253) exceeds the balance-sheet total (€537,474).
Key figures and ratios
EBITDA
-€205,595▼
2011 · €46,731
Cash flow
-€971,517▼
2011 · €286,682
Solvency
-58.9%▼
2011 · 29.6%
Current ratio
0.56▼
2011 · 0.72
Quick ratio
0.51▼
2011 · 0.67
ROA
-189.3%▼
2011 · 8.9%
Debt ≤ 1 year
€782,024▼
2011 · €1.6m
Debt > 1 year
€17,230▲
2011 · €16,375
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2008 | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.3m | €0.3m | €0.07m | €0.05m | ▼ 35.0% |
| Gross operating margin9900 | €1.2m | €1.1m | €0.5m | €0.7m | €0.4m | ▼ 50.2% |
| Operating profit (loss)9901 | €0.2m | -€0.02m | -€0.8m | -€0.02m | -€0.3m | ▼ 945% |
| Recurring financial income75 | €0.03m | €0.01m | €0.1m | €0.06m | €0.02m | ▼ 69.7% |
| Recurring financial charges65 | €0.2m | €0.07m | €0.2m | €0.2m | €0.03m | ▼ 85.0% |
| Profit (loss) for the period before taxes9903 | €0.03m | -€0.03m | -€0.9m | €0.2m | -€1.0m | - |
| Income taxes67/77 | €0.02m | €0.008m | €0.009m | €0.001m | - | - |
| Profit (loss) for the period9904 | €0.008m | -€0.04m | -€0.9m | €0.2m | -€1.0m | - |
| Profit (loss) for the period to be appropriated9905 | €0.008m | -€0.04m | -€0.9m | €0.2m | -€1.0m | - |
| Line | 2008 | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €3.4m | €2.5m | €2.4m | €0.5m | ▼ 77.9% |
| Fixed assets21/28 | €0.9m | €1.8m | €1.4m | €1.3m | €0.1m | ▼ 92.0% |
| Intangible fixed assets21 | €0 | €0.07m | €0.03m | - | - | - |
| Tangible fixed assets22/27 | €0.4m | €0.3m | €0.07m | €0.03m | - | - |
| Financial fixed assets28 | €0.4m | €1.4m | €1.3m | €1.3m | €0.1m | ▼ 91.8% |
| Current assets29/58 | €1.6m | €1.6m | €1.1m | €1.1m | €0.4m | ▼ 62.1% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.2m | €0.07m | €0.04m | ▼ 50.0% |
| Amounts receivable within one year40/41 | €1.4m | €1.3m | €1.0m | €1.1m | €0.4m | ▼ 63.2% |
| Cash at bank and in hand54/58 | €0.003m | €0.001m | €0.001m | €0.003m | €0.003m | ▲ 11.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €3.4m | €2.5m | €2.4m | €0.5m | ▼ 77.9% |
| Equity10/15 | €0.4m | €1.2m | €0.4m | €0.7m | -€0.3m | - |
| Contributions10/11 | €0.3m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Reserves13 | €0.2m | €0.03m | €0.03m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0 | -€0.04m | -€0.9m | -€0.7m | -€1.7m | ▼ 149% |
| Provisions and deferred taxes16 | €0.03m | €0.03m | €0.03m | €0.06m | €0.06m | = |
| Amounts payable17/49 | €2.0m | €2.2m | €2.1m | €1.7m | €0.8m | ▼ 51.7% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.06m | €0.02m | €0.02m | ▲ 5.2% |
| Amounts payable within one year42/48 | €1.8m | €2.0m | €2.1m | €1.6m | €0.8m | ▼ 51.1% |
| Trade debts44 | €0.9m | €1.0m | €0.6m | €0.6m | €0.6m | ▲ 0.6% |
| Line | 2008 | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.008m | -€0.04m | -€0.9m | €0.2m | -€1.0m | - |
| + Depreciation and write-downs630 | €0.2m | €0.3m | €0.3m | €0.07m | €0.05m | ▼ 35.0% |
| Operating cash flow (approximation) | €0.2m | €0.2m | -€0.6m | €0.3m | -€1.0m | - |
| Investment in fixed assets (approximation) | - | -€1.2m | €0.06m | €0.06m | €1.1m | ▲ 1,834% |
| Change in cash | - | -€0.002m | -€0.001m | €0.002m | €344 | ▼ 85.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2012 | full format | 23-10-2013 | 2013-64100045 |
| 31-12-2011 | full format | 28-09-2012 | 2012-59400581 |
| 31-12-2010 | full format | 13-02-2012 | 2012-03500156 |
| 31-12-2009 | full format | 01-12-2010 | 2010-62200058 |
| 31-12-2008 | full format | 31-08-2009 | 2009-73800051 |
| 31-12-2007 | full format | 06-10-2008 | 2008-77600016 |
| 31-12-2006 | full format | 02-10-2007 | 2007-76000137 |
| 31-12-2005 | full format | 25-07-2006 | 2006-52404298 |
| 31-12-2004 | full format | 01-08-2005 | 2005-61605336 |
| 30-04-2004 | full format | 27-09-2004 | 2004-66705329 |
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