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CINIONIC

Absorbed by BARCO KBO/BCE: BE 0689.837.472

Overview

Lifetime

5 annual accounts with figures on one time axis
peak €115.2m (2023)
€115.2m▲ 40.2%
lowest -€836,198 (2020)
€7.4m▲ 39.6%
peak €39.7m (2023)
€39.7m▲ 22.8%
€28.7m▼ 18.2%
peak 43.6 FTE (2023)
43.6 FTE▲ 18.8%
Board4 names since 2018
2 directorsBUYENS Wim, Victor, Hortence and 1 other
Owners
100%BARCO
Documentsfilings and deeds
26-04-202496 days before the deadline
2023financial year
Turnover from €82.2m to €115.2mResult from €5.3m to €7.4mStaff from 36.7 FTE to 43.6 FTEMerger proposal: to be absorbed by BARCO 04-12Reappointment: PwC Bedrijfsrevisoren BV (statutory auditor) 20-09Equity from €32.3m to €39.7m

Key points

from the 2023 annual accounts, the last ones filed

Staff

50 employees on 31-12-2023
1520219720221652023

In 2023, 16 people joined and 5 left. On top of that, 0.7 agency workers worked there on average.

Payment terms

29 days to suppliers
Suppliers
92 to 29
Customers
105 to 77

CINIONIC pays its suppliers 63 days earlier than in 2022. Customers pay 28 days earlier.

Filings

5 annual accounts since 2019
AprilJune31 JulyOctober20202022

The last five annual accounts were filed 74 to 96 days before the end of the period.

No score

Board and ownership

last known board
BW
Director, until 2024
PH
Director, until 2024
BP
Auditor, Lien Winne

Shares in 1 company, Barco Cine Appo Mexico, S.A. de C.V.

Board & ownership

Recent changes

Merger: absorbed by Barco Dissolution of the company · Dissolved without liquidation · Resignations: Buyens, Wim (director) and Hermans, Paul (director) · General meeting of 15-01-2024 · Gazette deed
Merger proposal: to be absorbed by BARCO Board meeting of 20-11-2023 · Gazette deed
Reappointment: PwC Bedrijfsrevisoren BV (statutory auditor) Gazette deed
Resignation: Sofie Braet (director) Appointment: Paul Hermans (director) · General meeting of 06-07-2022 · Gazette deed
All 21 events

Official details

Source: KBO
Status
Absorbed by BARCOmerger by absorption, March 2024
Activity
“Het verrichten van activiteiten inzake verkoop,distributie,marketing,dienst na-verkoop,installatie,onderhoud,herstelling en ondersteuning van oplossingen,producten,diensten en financieringen voor…” (deed in Dutch)From the articles, 6 activitiesNo NACE code in the KBO yet
Joint committee
209White-collar workers in metal manufacturing · annual accounts 2023
Financial year end
31 December
Peppol
Not found in the Peppol Directory
Company details

Annual accounts 2023

€115.2m▲ 40.2%
€7.4m▲ 39.6%
€39.7m▲ 22.8%
€68.4m▲ 1.4%
Employeeson 31-12-2023
50▲ 28.2%
Filing
Filed on 26-04-2024
Financials

Insights on CINIONIC

Absorbed by BARCO in March 2024. The last annual accounts are for financial year 2023. The company was dissolved without liquidation.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2023

full format, filed on 26-04-2024, 96 days before the deadline
€115.2m
▲ 40.2%
€4.3m
▼ 36.4%
€4.6m
▼ 35.4%
€7.7m
▲ 35.8%
58.0%
▲ 10.1 percentage points
2.29
▲ 0.45

Money flows

of every €100 of turnover, €6.40 remains as profit in 2023

Balance sheet

balance sheet total €68.4m on 31-12-2023
What the company ownsHow it is paid for

in €m

in €m

Staff

Men and women42% women

25.3 men and 18.3 women in full-time equivalents in 2023.

€190,437

Men €223,515, women €133,920 per full-time equivalent. Jobs differ, so this is not a pay gap.

+11 people

people who joined people who left

In 2023, 16 people joined and 5 left. Training hours in 2023: 2,937. Agency workers: 0.7 on average.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20232022202120202019
Balance sheet: assets
20/58 68.4m67.4m49.6m41.9m46.3m
21/28 2.7m2.9m3.1m1.4m1.6m
21 254,719504,593763,7861.1m1.3m
22/27 206,768110,33941,97234,53328,650
23 48,51864,85515,7639,31613,456
24 158,25045,48426,20925,21715,194
28 2.3m2.3m2.3m322,192322,192
280/1 2.3m2.3m2.3m297,834297,834
280 2.3m2.3m2.3m297,834297,834
284/8 24,35824,35824,35824,35824,358
285/8 24,35824,35824,35824,35824,358
29/58 65.6m64.5m46.5m40.5m44.6m
3 2.1m4.2m3.5m3.5m3.0m
30/36 2.0m3.5m2.2m3.1m2.9m
32 98,832230,62673,0581.2m617,033
33 1.9m3.2m2.1m1.9m2.2m
37 137,388765,5791.3m346,093138,174
40/41 63.3m59.9m41.2m36.9m41.6m
40 24.2m23.7m10.6m11.0m17.0m
41 39.1m36.2m30.5m25.9m24.6m
54/58 01,9961,98812,07918,499
490/1 198,786356,0101.8m137,707-
Balance sheet: equity and liabilities
10/49 68.4m67.4m49.6m41.9m46.3m
10/15 39.7m32.3m27.0m24.2m25.0m
10/11 25.0m25.0m25.0m25.0m25.0m
10 --25.0m--
100 --25.0m25.0m25.0m
13 2.1m2.1m1.1m527527
130/1 --527527-
130 --527527527
132 2.1m2.1m1.1m--
133 527527---
14 12.5m5.2m936,408-836,198-
17/49 28.7m35.1m22.6m17.7m21.2m
42/48 28.7m35.1m22.6m17.3m21.2m
44 8.7m19.4m9.3m6.8m10.8m
440/4 8.7m19.4m9.3m6.8m10.8m
46 17.4m13.6m11.4m9.6m9.0m
45 2.6m1.9m1.6m964,7151.4m
450/3 351,537287,400240,209233,089249,522
454/9 2.2m1.6m1.4m731,6261.2m
47/48 -250,000264,662--
492/3 ---400,04816,217
Income statement
70/76A 124.3m91.3m53.1m50.6m108.2m
70 115.2m82.2m45.0m39.0m83.8m
71 174,3221.0m993,283944,4653.5m
74 9.0m8.1m7.2m--
60/66A 120.0m84.5m50.9m51.1m107.9m
60 82.7m62.1m34.8m35.4m85.9m
600/8 82.7m62.1m34.8m35.4m85.9m
61 27.2m14.7m8.8m8.6m14.2m
62 8.3m6.5m5.8m5.7m7.0m
630 314,431378,232362,730347,232320,349
631/4 965,218587,730850,5771.0m452,176
640/8 458,757333,484280,478100,457100,107
66A 3,861----
9901 4.3m6.8m2.2m-480,917238,414
75/76B 7.2m2.4m1.7m1.8m311,159
75 3.7m2.4m1.7m1.8m311,159
750 2.4m227,19089,328223,56013,498
752/9 1.4m2.1m1.6m1.6m297,662
76B 3.5m----
65/66B 3.0m2.0m337,8552.2m481,329
65 3.0m2.0m337,8552.2m481,329
650 1.2m51,5551,243193,352
652/9 1.8m1.9m336,6122.2m477,977
9903 8.6m7.2m3.6m-836,19868,245
680 -0---
67/77 1.2m1.9m782,483-67,717
670/3 1.2m1.9m782,483-67,717
9904 7.4m5.3m2.8m-836,198527
689 01.1m1.1m--
9905 7.4m4.2m1.8m-836,198527
Appropriation of the result
9906 12.5m5.2m936,408-836,198527
14P 5.2m936,408-836,198--
691/2 ----527
6920 ----527
Social balance sheet
9087 43.636.737.642.339
Men (FTE)1003 25.321.423.326.624.4
Women (FTE)1003 18.315.214.315.714.6
Agency workers1501 0.70.8-0.10.4
Hours worked1013 71,10360,22050,64654,80580,827
Document PDFPDFPDFPDFPDF

The notes to these accounts have 54 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2023 (PDF), filed on 26-04-2024.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2023 full format 26-04-2024 2024-00072612 PDF
31-12-2022 full format 10-05-2023 2023-00084936 PDF
31-12-2021 full format 10-05-2022 2022-20025488 PDF
31-12-2020 full format 18-05-2021 2021-14700291 PDF
31-12-2019 full format 13-05-2020 2020-11900415 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20232022202120202019
4.6m7.2m2.6m-133,685558,763
7.7m5.7m3.2m-488,966320,876
161,522187,4062.0m148,5761.9m
-1,9969-10,091-6,421-
36.9m29.4m23.9m23.1m23.4m
3.8%8.3%4.9%-1.2%0.3%
58.0%47.9%54.4%57.7%54.1%
2.291.842.062.332.10
2.211.721.902.141.96
0.721.090.840.730.85
18.6%16.4%10.5%-3.5%0.0%
10.8%7.8%5.7%-2.0%0.0%
4.03over 100over 100-6873.27over 100
77 days105 days86 days103 days74 days
29 days92 days78 days56 days39 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Revenue breakdown

as filed

By geographic market 2020

  • Europa, Midden Oosten en Afrika €30,487,40578.1%
  • Amerika €5,035,51312.9%
  • Azië €3,493,9129.0%
  • China €8,7120.0%

Total €39,025,542

Source: 2020 accounts, page 19, filing 2021-14700291

All years (2019 to 2020)
By geographic market20192020
Europa, Midden Oosten en Afrika€59,889,003€30,487,405
Amerika€14,558,675€5,035,513
Azië€9,291,160€3,493,912
China€81,102€8,712
Total€83,819,940€39,025,542

Social balance sheet

Item31-12-202331-12-202231-12-2021
Employees at the balance-sheet date503937
full-time423533
part-time844
in full-time equivalents48.338.436.3
43.636.737.6
On a permanent contract503937
Joined1691
Left575
Agency workers, average number0.70.8-
Training hours2,9372,7201,935

Source: social balance sheet in the 2021 to 2023 annual accounts

Investments

fixed assets acquired
Item202320222021
Tangible fixed assets€161,248€114,213€25,872
Intangible fixed assets€274€73,193€23,893
Financial fixed assets--€2.0m
€314,431€378,232€362,730

Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is BV PwC Bedrijfsrevisoren.

Item202320222021
Fee for the audit€27,550€26,188€23,883

Source: notes to the 2021 to 2023 annual accounts (relations with the auditor)

Insights on CINIONIC

The operating result for 2023 is 36% lower than in 2022.

Debt's share of the balance-sheet total falls from 52.1% to 42.0%. Equity is higher and debt is lower.

Board & ownership

Last board

1 auditor, last change in 2024
Statutory auditor, permanent representative Lien Winne
appointed by deed of 21-12-2018
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Afschriften en uittreksels worden steeds geldig ondertekend door één bestuurder. Externe vertegenwoordigingsmacht 1. Elke bestuurder kan…”
deed of 03-11-2020

Office holders in the KBO →

Mandates through the years

4 names, the dashed line is today
BV PwC Bedrijfsrevisoren
Statutory auditor
Paul Hermans
Director
Earlier
Mandates as a list
  • BV PwC Bedrijfsrevisoren
    • Statutory auditor, appointed by deed of 21-12-2018, still in office
  • BUYENS Wim, Victor, Hortence
    • Director, from 06-02-2018 to 13-03-2024
  • Paul Hermans
    • Director, appointed by deed of 07-09-2022, until 13-03-2024
  • BRAET Sofie Maria Andrea
    • Manager, appointed by deed of 29-10-2018, until 14-07-2022

See the board, name and registered office on a given date →

Control

Shareholder
This company
CINIONIC
Equity €39.7m
Profit €7.4m in 2023

Capital

Contribution
€25,018,550
Shares
1,855 in the 2022 annual accounts
Contribution per share
€13,487
Equity per share
€21,380 in 2023
Source
deed of 03-11-2020

Owners through the years

as the annual accounts name them
Owners as a list

Source: parent in its own accounts, lists of holdings in the owners' accounts

Articles of association

deed of 03-11-2020 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
“Elk alleen optredend, ten hoogste twee bestuurders benoemd”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
“Gewone algemene vergadering 1. De gewone algemene vergadering moet ieder jaar worden bijeengeroepen op de vrijdag voorafgaand aan de tweede…”
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Handelen overeenkomstig artikelen 2:89 tot en met 2:93 WVV, verrichtingen vereffening”

Capital transactions

Shareholders according to the deeds
Stated in the deed deed of 13-03-2024 ↗
  • Barco (BE 0473.191.041) all shares
Capital over time
  1. 03-11-2020 Converted to available equity · €25,018,550
  2. 03-11-2020 Converted to available equity · €527.48

Network & group

Holdings

own 2023 accounts, the bar shows equity in euros
This companyCINIONIC1 holding, 1 country 2023 accounts

North America 1 Equity Result

  • MX Barco Cine Appo Mexico, S.A. de C.V.99% €681,450 result €491,151

Source: list of holdings in its own 2023 accounts. The amounts are in that list and come from the holdings' accounts at 31-12-2023, in their own currency.

Earlier ties

S-LUTION
via BRAET Sofie Maria Andrea, at CINIONIC until 2022 · Director (not named in the articles) · deed of 27-10-2022
founded in 2022
total assets €131,942 (2025)

Holdings and subsidiaries

1 holding

Holdings 1

Share, source and own figures per holding (1)
  • Barco Cine Appo Mexico, S.A. de C.V.MXsubsidiary
    Equity €681,450Result €491,151
    99%+ 1% via subsidiaries
Holdings through the years 2019 to 2023
Holdings through the years
Name20192020202120222023
Barco Cine Appo Mexico, S.A. de C.V.MX 99%
Cinionic IncUS 100%

Source: list of holdings in its own accounts

Acquisitions and mergers

2 transactions
Taken over by:BARCO
BE 0473.191.041art.12:53,§6 WVV · Gazette deed of 13-03-2024 (4 deeds)
Received a branch of activity from:Barco
BE 0473.191.041Gazette deed of 20-12-2018 (2 deeds) · effective 01-10-2018

Connections & network

Depth

The network starts from the earlier ties.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

21 events since 2018
2024
Annual accounts 2023 filed PDFfull format · 96 days before the deadline
Merger: absorbed by BarcoDissolution of the company · Dissolved without liquidation · Resignations: Buyens, Wim (director) and Hermans, Paul (director) · General meeting of 15-01-20246 points ▸
  • General meeting, 15-01-2024
  • Accounting effect, 01-01-2024
  • Barco holds all the shares
  • Director resignation, Buyens, Wim
  • Director resignation, Hermans, Paul
  • Director discharge, Barco
  • The deed holds 7 more points.

Open the deed in the Belgian Official Gazette

2023
Highest result from 2019 to 2023 net €7.4m ▲39.6% The net result of €7.4m is the highest of those years.
Merger proposal: to be absorbed by BARCOBoard meeting of 20-11-20234 points ▸
  • Board meeting, 20-11-2023, mentioned twice in the deed
  • Incorporation, 06-02-2018
  • Incorporation, 09-11-2000
  • Accounting effect, 01-01-2024
  • The deed holds 10 more points.

Open the deed in the Belgian Official Gazette

Reappointment: PwC Bedrijfsrevisoren BV (statutory auditor)1 point ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFfull format · 82 days before the deadline
2022
Resignation: Sofie Braet (director)Appointment: Paul Hermans (director) · General meeting of 06-07-20223 points ▸
  • General meeting, 06-07-2022
  • Director resignation, Sofie Braet
  • Director appointment, Paul Hermans

Open the deed in the Belgian Official Gazette

Reappointment: PwC Bedrijfsrevisoren (statutory auditor)General meeting of 08-04-20222 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2021 filed PDFfull format · 82 days before the deadline
2021
Back to profit net €2.8m The net result is €2.8m, after one loss-making year.
Permanent representatives: Peter Opsomer and Lien Winne2 points ▸
  • Permanent representative, Peter Opsomer
  • Permanent representative, Lien Winne

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFfull format · 74 days before the deadline
2020
Weakest financial year net -€836,198 The net result drops to -€836,198, the lowest from 2019 to 2023.
Reappointments: BUYENS Wim, Victor, Hortence (director) and BRAET Sofie Maria Andrea (director)Name clause: Cinionic · General meeting of 29-10-20207 points ▸
  • General meeting, 29-10-2020, mentioned twice in the deed
  • Registered office clause, Beneluxpark 21, 8500 Kortrijk
  • 1,855 shares
  • Name clause, Cinionic
  • Registered office clause, Flemish Region
  • Director reappointment, BUYENS Wim, Victor, Hortence
  • Director reappointment, BRAET Sofie Maria Andrea
  • The deed holds 5 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2019 filed PDFfull format · 79 days before the deadline
2018
Capital increase of €25,000,000 to €25,018,550Capital from €18,550 to €25,018,550 · Appointment: PricewaterhouseCoopers Bedrijfsrevisoren (statutory auditor) · Permanent representatives: Peter OPSOMER and Lien WINNE · General meeting of 19-12-20185 points ▸
  • General meeting, 19-12-2018
  • Capital increase, €25,000,000
  • Auditor appointment, PricewaterhouseCoopers Bedrijfsrevisoren (statutory auditor)
  • Permanent representative, Peter OPSOMER
  • Permanent representative, Lien WINNE
  • The deed holds 2 more points.

Open the deed in the Belgian Official Gazette

Transfer: Barco transfers a branch of activity to Cinionic PDF
Appointment: Sofie Braet (manager)1 point ▸
  • Director appointment, Sofie Braet (manager)
  • The deed holds 2 more points.

Open the deed in the Belgian Official Gazette

Company renamed from Barco Cine Appo Belgium to Cinionic3 points ▸
  • Name change, Cinionic
  • Power of attorney, GOETHALS Michèle Marie Julie
  • Power of attorney, LENOIR Hein, Oscar, Nicole
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

Purpose change“Alle roerende of onroerende goederen,materialen en benodigdheden verwerven,huren of…” (deed in Dutch) · General meeting of 30-05-20182 points ▸
  • General meeting, 30-05-2018
  • Purpose change, “Alle roerende of onroerende goederen,materialen en benodigdheden verwerven,huren of verhuren,vervaardigen,overdragen of ruilen; Alle hoegenaamde…” (deed in Dutch)
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

Incorporation PDF14 publications in the Belgian Official Gazette, the last on 13-03-2024

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

Since 2018 the company has been called Cinionic.1 CINIONIC has filed 5 sets of annual accounts, the latest for financial year 2023.2 In 2024 the company was absorbed by merger into BARCO.3

  1. 1Belgian Official Gazette, 04-09-2018
  2. 2National Bank, annual accounts 2023
  3. 3Belgian Official Gazette, 13-03-2024

Company details

Purpose, financial year and meetings according to the articles of association

Name, seat, purpose and duration

PurposeThe purpose describes the activities the company may carry out under its articles.
“Het verrichten van activiteiten inzake verkoop,distributie,marketing,dienst na-verkoop,installatie,onderhoud,herstelling en ondersteuning…”
6 activities
  1. Het verrichten van activiteiten inzake verkoop,distributie,marketing,dienst na-verkoop,installatie,onderhoud,herstelling en ondersteuning van oplossingen,producten,diensten en financieringen voor partners en bioscoopexploitanten op het vlak van cinematechnologie,in het bijzonder wat betreft visualisatie- en beeldverwerkingstechnologie,lasertechnologie en retrofitmodules voor lichtbronnen,premium oplossingen,en gerelateerde content,evenals elke andere dienstverlening in het kader van de in dit voorwerp beschreven activiteiten
  2. Alle hoegenaamde handels-,nijverheids,financiele,roerende en onroerende verrichtingen uitvoeren,die rechtstreeks of onrechtstreeks in verband staan met haar voorwerp of die van aard zijn dit te begunstigen
  3. Op om het even welke wijze alle intellectuele rechten,merken,modellen,tekeningen verwerven,uitbaten en te gelde maken
  4. Bij wijze van inschrijving,inbreng,fusie,samenwerking,financiele tussenkomst of anderszins een belang of deelneming verwerven in alle bestaande of nog op te richten vennootschappen,ondernemingen,bedrijvigheden of verenigingen zonder onderscheid,in Belgie of in het buitenland;deze belangen of deelnemingen beheren,valoriseren en te gelde maken
  5. Deelnemen aan het bestuur,de directie,de controle en vereffening van de vennootschappen,ondernemingen,bedrijvigheden en verenigingen waarin zij een belang of deelneming heeft
  6. Zich ten gunste van vennootschappen,ondernemingen,bedrijvigheden en verenigingen waarin zij al dan niet een belang of deelneming heeft borg stellen of haar aval verlenen,optreden als agent of vertegenwoordiger,voorschotten toestaan,kredieten verlenen,hypothecaire of andere zekerheden verstrekken
deed of 04-12-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 03-11-2020 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 03-11-2020 (in Dutch)

General meeting and financial year

Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
“Gewone algemene vergadering 1. De gewone algemene vergadering moet ieder jaar worden bijeengeroepen op de vrijdag voorafgaand aan de tweede…”

deed of 03-11-2020 (in Dutch)

Inactive

Absorbed by BARCO in March 2024

CINIONIC is no longer in the KBO register. BARCO took it over in a merger by absorption, published in the Belgian Official Gazette on 13 March 2024.

Status
Inactive
Reason
Merger by absorptionBelgian Official Gazette, 13 March 2024 · deed
Absorbed by
BARCO · 0473.191.041
Last annual accounts
financial year to 31 December 2023
Last registered office
Beneluxpark 21, 8500 Kortrijkas published on 13 March 2024
Legal form
Private limited company
First annual accounts
financial year 2019
Official KBO record