CLASS - X
Open bankruptcyFinancials · financial year 2022, full format
2022 annual accounts filed late (58 days) Filed on 27 September 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00458481.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€604,821
2021 · €7,978
Working capital
-€45,880
2021 · €165,249
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result turns negative in 2022: a loss of €594,888 after €23,011 in 2021, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.6m
2022
Net result-€0.6m
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.6m
2022
Equity-€0.5m
2022
Debt€1.1m
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.05m
2022
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-100.4%
2022
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-80.4%
2022
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.93
2022
Average staff in full-time equivalents (FTE).
Staff (FTE)0.3
2022
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 79, Travel agency, tour operator and other reservation service and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€0.002m--€0.06m-€0.02m▲ 64.9%€0.02m-€0.6m
Net result-€0.02m--€0.08m▼ 346%-€0.04mwithin the sector's middle half▲ 47.5%€0.008mwithin the sector's middle half-€0.6mbelow the sector's middle half
Equity€0.2m-€0.2m▼ 34.8%€0.1mwithin the sector's middle half▼ 28.1%€0.1mwithin the sector's middle half▲ 7.1%-€0.5mbelow the sector's middle half
Total assets€0.4m-€0.7m▲ 85.8%€1.3mwithin the sector's middle half▲ 95.5%€1.2mwithin the sector's middle half▼ 6.2%€0.6mwithin the sector's middle half▼ 50.0%
Debt€0.1m-€0.5m▲ 343%€1.2m▲ 134%€1.1m▼ 7.5%€1.1m▲ 0.3%
Working capital€0.2m-€0.2m▼ 2.8%€0.2mwithin the sector's middle half▼ 21.1%€0.2mwithin the sector's middle half▼ 8.6%-€0.05mbelow the sector's middle half
Solvency68.1%-23.9%▼ 44.2pp8.8%below the sector's middle half▼ 15.1pp10.0%below the sector's middle half▲ 1.2pp-80.4%below the sector's middle half▼ 90.4pp
Current ratio3.18-1.55▼ 1.631.16within the sector's middle half▼ 0.381.16within the sector's middle half▼ 0.010.93below the sector's middle half▼ 0.23
Return on assets (ROA)-5.3%--12.8%▼ 7.5pp-3.4%within the sector's middle half▲ 9.3pp0.7%within the sector's middle half▲ 4.1pp-100.4%below the sector's middle half▼ 101.1pp
Staff (FTE)3.1-2.4▼ 22.6%1.6below the sector's middle half▼ 33.3%1.4below the sector's middle half▼ 12.5%0.3below the sector's middle half▼ 78.6%
above
within
below
the middle half of NACE 79, Travel agency, tour operator and other reservation service and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €602,252
Fixed assets
€12,851 ▲ 289%
Current assets
€589,402 ▼ 50.9%
Equity and liabilities
Equity-€483,956
Debt€1.1m
Equity is negative: debt (€1.1m) exceeds the balance-sheet total (€602,252).
Key figures and ratios
EBITDA
-€593,663▼
2021 · €24,557
Cash flow
-€603,596▼
2021 · €9,524
Quick ratio
0.78▲
2021 · 0.41
Interest coverage
-59.06▼
2021 · 1.60
Debt ≤ 1 year
€635,281▼
2021 · €1.0m
Debt > 1 year
€448,706▲
2021 · €47,683
Income taxes
€9,026▲
2021 · €106
Staff costs
€9,903▼
2021 · €20,947
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 | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €20,947 | €9,903 | ▼ 52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,535 | €4,580 | €4,581 | €1,546 | €1,225 | ▼ 20.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €32,715 | - |
| Other operating charges640/8 | - | - | - | €1,086 | €10,518 | ▲ 868% |
| Gross operating margin9900 | €151,708 | €164,896 | €26,373 | €46,590 | -€540,527 | - |
| Operating profit (loss)9901 | €2,158 | -€59,103 | -€20,730 | €23,011 | -€594,888 | - |
| Financial income75/76B | - | - | - | €397 | €9,144 | ▲ 2,203% |
| Recurring financial income75 | €2,240 | €5,311 | €493 | €397 | €9,144 | ▲ 2,203% |
| Financial charges65/66B | - | - | - | €15,324 | €10,051 | ▼ 34.4% |
| Recurring financial charges65 | €23,015 | €29,864 | €23,666 | €15,324 | €10,051 | ▼ 34.4% |
| Profit (loss) for the period before taxes9903 | -€18,617 | -€83,655 | -€43,904 | €8,084 | -€595,795 | - |
| Income taxes67/77 | €155 | €159 | €116 | €106 | €9,026 | ▲ 8,407% |
| Profit (loss) for the period9904 | -€18,772 | -€83,814 | -€44,020 | €7,978 | -€604,821 | - |
| Profit (loss) for the period to be appropriated9905 | -€18,772 | -€83,814 | -€44,020 | €7,978 | -€604,821 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.4m | €0.7m | €1.3m | €1.2m | €0.6m | ▼ 50.0% |
| Fixed assets21/28 | €0.009m | €0.009m | €0.005m | €0.003m | €0.01m | ▲ 289% |
| Tangible fixed assets22/27 | €0.006m | €0.006m | €0.002m | - | €0.007m | - |
| Other tangible fixed assets26 | - | - | - | - | €0.007m | - |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.005m | ▲ 63.6% |
| Current assets29/58 | €0.3m | €0.6m | €1.3m | €1.2m | €0.6m | ▼ 50.9% |
| Amounts receivable after more than one year29 | - | - | - | €0.09m | €0.09m | = |
| Other amounts receivable291 | - | - | - | €0.09m | €0.09m | = |
| Stocks and contracts in progress3 | - | - | €0.8m | €0.8m | €0.09m | ▼ 87.9% |
| Contracts in progress37 | - | - | - | €0.8m | €0.09m | ▼ 87.9% |
| Amounts receivable within one year40/41 | €0.3m | €0.6m | €0.3m | €0.3m | €0.4m | ▲ 30.9% |
| Trade receivables40 | - | - | - | €0.3m | €0.4m | ▲ 46.6% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.005m | ▼ 84.3% |
| Cash at bank and in hand54/58 | €0.02m | €0.008m | €0.03m | €0.02m | €0.02m | ▲ 6.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.4m | €0.7m | €1.3m | €1.2m | €0.6m | ▼ 50.0% |
| Equity10/15 | €0.2m | €0.2m | €0.1m | €0.1m | -€0.5m | - |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | = |
| Reserves not available under the articles1311 | - | - | - | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.1m | €0.05m | €0.003m | €0.01m | -€0.6m | - |
| Amounts payable17/49 | €0.1m | €0.5m | €1.2m | €1.1m | €1.1m | ▲ 0.3% |
| Amounts payable after more than one year17 | - | €0.08m | €0.07m | €0.05m | €0.4m | ▲ 841% |
| Financial debts170/4 | - | - | - | €0.05m | €0.4m | ▲ 841% |
| Amounts payable within one year42/48 | €0.1m | €0.4m | €1.1m | €1.0m | €0.6m | ▼ 38.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.1m | ▲ 474% |
| Financial debts43 | - | - | - | €0.2m | €0.2m | ▲ 13.6% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | ▲ 13.6% |
| Trade debts44 | €0.01m | €0.07m | - | - | €0.2m | - |
| Suppliers440/4 | - | - | - | - | €0.2m | - |
| Taxes, remuneration and social security45 | - | - | - | €437 | €0.01m | ▲ 3,292% |
| Taxes450/3 | - | - | - | €106 | €0.01m | ▲ 13,864% |
| Remuneration and social security454/9 | - | - | - | €331 | - | - |
| Other amounts payable47/48 | - | - | - | €0.8m | €0.09m | ▼ 88.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.002m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,772 | -€83,814 | -€44,020 | €7,978 | -€604,821 | - |
| + Depreciation and write-downs630 | €3,535 | €4,580 | €4,581 | €1,546 | €1,225 | ▼ 20.8% |
| Operating cash flow (approximation) | -€15,237 | -€79,234 | -€39,439 | €9,524 | -€603,596 | - |
| Investment in fixed assets (approximation) | - | -€4,638 | €0 | €0 | -€10,776 | - |
| Change in cash | - | -€10,805 | €24,416 | -€11,780 | €1,385 | - |
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 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | full format | 27-09-2023 | 2023-00458481 |
| 31-12-2021 | full format | 30-07-2022 | 2022-20253595 |
| 31-12-2020 | full format | 28-05-2021 | 2021-15700068 |
| 31-12-2019 | full format | 26-06-2020 | 2020-21100542 |
| 31-12-2018 | full format | 30-08-2019 | 2019-57900474 |
| 31-12-2017 | full format | 29-06-2018 | 2018-25400423 |
| 31-12-2016 | full format | 30-06-2017 | 2017-24600119 |
| 31-12-2015 | full format | 07-07-2016 | 2016-28700499 |
| 31-12-2014 | full format | 28-08-2015 | 2015-50900332 |
| 31-12-2013 | full format | 27-08-2014 | 2014-51000453 |
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Of the 1,431 active companies whose main activity is travel agency activities (NACE 79110), figures are known for 877. 237 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.