CMAC
Bankruptcy closedFinancials · financial year 2023, micro format
Annual accounts 2023 filed on 01-07-2024 PDF all 16 filings
Turnover
€0
Total assets
€71,335▼ 16.2%
2022 · €85,166
Net result
-€33,838▲ 42.0%
2022 · -€58,350
Working capital
-€143,652▼ 46.5%
2022 · -€98,077
Multi-year overview
2018 to 2023, 6 financial yearsTurnover
€0
2023
20182023
Operating result
-€30,184
▲ 44.4%
2023
20182023
Net result
-€33,838
▲ 42.0%
2023
20182023
Equity
-€223,626
▼ 17.8%
2023
20182023
Total assets
€71,335
▼ 16.2%
2023
20182023
Debt
€294,961
▲ 7.3%
2023
20182023
Working capital
-€143,652
▼ 46.5%
2023
20182023
Staff (FTE)
19.7
▲ 28.8%
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Turnover€0
Operating result-€48,372--€8,325▲ 82.8%-€25,373▼ 205%€103,911-€54,265-€30,184▲ 44.4%
Net result-€54,703--€13,948▲ 74.5%-€28,025▼ 101%€100,754-€58,350-€33,838▲ 42.0%
Equity-€190,218--€204,167▼ 7.3%-€232,192▼ 13.7%-€131,438▲ 43.4%-€189,788▼ 44.4%-€223,626▼ 17.8%
Total assets€75,900-€101,716▲ 34.0%€62,858▼ 38.2%€170,628▲ 171%€85,166▼ 50.1%€71,335▼ 16.2%
Debt€266,118-€305,883▲ 14.9%€295,050▼ 3.5%€302,066▲ 2.4%€274,954▼ 9.0%€294,961▲ 7.3%
Working capital-€192,707--€221,222▼ 14.8%-€245,585▼ 11.0%-€19,678▲ 92.0%-€98,077▼ 398%-€143,652▼ 46.5%
Staff (FTE)4-4.5▲ 12.5%4.9▲ 8.9%9.6▲ 95.9%15.3▲ 59.4%19.7▲ 28.8%
The operating result for 2023 is a loss of €30,184, smaller than the loss of €54,265 in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €71,335
Fixed assets
€20,454 ▼ 23.4%
Current assets
€50,881 ▼ 12.9%
Equity and liabilities
Equity-€223,626
Debt€294,961
Equity is negative. Debt (€294,961) exceeds the balance-sheet total (€71,335).
Key figures and ratios
EBITDA
-€24,372▲
2022 · -€50,083
Cash flow
-€28,026▲
2022 · -€54,168
Solvency
-313.5%▼
2022 · -222.8%
Current ratio
0.26▼
2022 · 0.37
Quick ratio
0.22▼
2022 · 0.30
ROA
-47.4%▲
2022 · -68.5%
Interest coverage
-6.55▲
2022 · -11.99
Debt ≤ 1 year
€194,534▲
2022 · €156,527
Debt > 1 year
€100,427▼
2022 · €118,427
Staff costs
€243,481▲
2022 · €210,407
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 15 | 14 |
| part-time | 9 | 15 | 14 |
| in full-time equivalents | 4.3 | 6.4 | 6.7 |
| Average over the year, in full-time equivalents | 5 | 7.2 | 9.1 |
| On a permanent contract | 5 | 5 | 7 |
| Joined | 80 | 116 | 97 |
| Left | 78 | 110 | 91 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €3,970 | €4,838 | - |
| Depreciation and write-downs of the year | €2,903 | €4,182 | €5,812 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €0 | - |
| Non-recurring operating income76A | - | - | - | €29,925 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €0 | - |
| Remuneration, social security and pensions62 | - | - | - | €114,458 | €210,407 | €243,481 | ▲ 15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,050 | €4,367 | €3,375 | €2,903 | €4,182 | €5,812 | ▲ 39.0% |
| Other operating charges640/8 | - | - | - | €1,793 | €3,426 | €2,471 | ▼ 27.9% |
| Gross operating margin9900 | €147,719 | €172,651 | €81,154 | €223,065 | €163,750 | €221,581 | ▲ 35.3% |
| Operating profit (loss)9901 | -€48,372 | -€8,325 | -€25,373 | €103,911 | -€54,265 | -€30,184 | ▲ 44.4% |
| Financial income75/76B | - | - | - | €36 | €91 | €65 | ▼ 28.9% |
| Recurring financial income75 | €679 | €165 | €53 | €36 | €91 | €65 | ▼ 28.9% |
| Financial charges65/66B | - | - | - | €3,193 | €4,177 | €3,719 | ▼ 11.0% |
| Recurring financial charges65 | €7,009 | €5,788 | €2,705 | €3,193 | €4,177 | €3,719 | ▼ 11.0% |
| Profit (loss) for the period before taxes9903 | -€54,703 | -€13,948 | -€28,025 | €100,754 | -€58,350 | -€33,838 | ▲ 42.0% |
| Profit (loss) for the period9904 | -€54,703 | -€13,948 | -€28,025 | €100,754 | -€58,350 | -€33,838 | ▲ 42.0% |
| Profit (loss) for the period to be appropriated9905 | -€54,703 | -€13,948 | -€28,025 | €100,754 | -€58,350 | -€33,838 | ▲ 42.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €75,900 | €101,716 | €62,858 | €170,628 | €85,166 | €71,335 | ▼ 16.2% |
| Fixed assets21/28 | €4,449 | €17,055 | €14,775 | €26,060 | €26,716 | €20,454 | ▼ 23.4% |
| Intangible fixed assets21 | - | - | - | - | €0 | €0 | - |
| Tangible fixed assets22/27 | €3,999 | €16,605 | €14,325 | €15,392 | €16,049 | €10,237 | ▼ 36.2% |
| Plant, machinery and equipment23 | - | - | - | €1,260 | €862 | €519 | ▼ 39.8% |
| Furniture and vehicles24 | - | - | - | €5,761 | €7,584 | €3,182 | ▼ 58.0% |
| Other tangible fixed assets26 | - | - | - | €8,372 | €7,603 | €6,535 | ▼ 14.0% |
| Financial fixed assets28 | €450 | €450 | €450 | €10,667 | €10,667 | €10,217 | ▼ 4.2% |
| Current assets29/58 | €71,450 | €84,660 | €48,083 | €144,569 | €58,450 | €50,881 | ▼ 12.9% |
| Stocks and contracts in progress3 | €11,460 | €15,045 | €19,813 | €13,517 | €11,902 | €7,590 | ▼ 36.2% |
| Stocks30/36 | - | - | - | €13,517 | €11,902 | €7,590 | ▼ 36.2% |
| Amounts receivable within one year40/41 | €10,886 | €6,800 | €9,971 | €5,829 | €8,700 | €5,965 | ▼ 31.4% |
| Trade receivables40 | - | - | - | €185 | €3,055 | €320 | ▼ 89.5% |
| Other amounts receivable41 | - | - | - | €5,645 | €5,645 | €5,645 | = |
| Cash at bank and in hand54/58 | €49,104 | €62,815 | €18,300 | €120,173 | €37,473 | €36,945 | ▼ 1.4% |
| Deferred charges and accrued income490/1 | - | - | - | €5,049 | €376 | €382 | ▲ 1.5% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €75,900 | €101,716 | €62,858 | €170,628 | €85,166 | €71,335 | ▼ 16.2% |
| Equity10/15 | -€190,218 | -€204,167 | -€232,192 | -€131,438 | -€189,788 | -€223,626 | ▼ 17.8% |
| Contributions10/11 | €12,600 | €12,600 | - | €12,600 | €12,600 | €12,600 | = |
| Profit (loss) carried forward14 | -€202,818 | -€216,767 | -€244,792 | -€144,038 | -€202,388 | -€236,226 | ▼ 16.7% |
| Amounts payable17/49 | €266,118 | €305,883 | €295,050 | €302,066 | €274,954 | €294,961 | ▲ 7.3% |
| Amounts payable after more than one year17 | - | - | - | €136,427 | €118,427 | €100,427 | ▼ 15.2% |
| Other amounts payable178/9 | - | - | - | €136,427 | €118,427 | €100,427 | ▼ 15.2% |
| Amounts payable within one year42/48 | €264,157 | €305,883 | €293,668 | €164,246 | €156,527 | €194,534 | ▲ 24.3% |
| Trade debts44 | €210,860 | €172,557 | €182,938 | €19,886 | €28,156 | €55,254 | ▲ 96.2% |
| Suppliers440/4 | - | - | - | €19,886 | €28,156 | €55,254 | ▲ 96.2% |
| Taxes, remuneration and social security45 | - | - | - | €40,359 | €46,653 | €59,171 | ▲ 26.8% |
| Taxes450/3 | - | - | - | €4,355 | €12,026 | €12,497 | ▲ 3.9% |
| Remuneration and social security454/9 | - | - | - | €36,004 | €34,626 | €46,673 | ▲ 34.8% |
| Other amounts payable47/48 | - | - | - | €104,001 | €81,718 | €80,109 | ▼ 2.0% |
| Accrued charges and deferred income492/3 | - | - | - | €1,393 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€54,703 | -€13,948 | -€28,025 | €100,754 | -€58,350 | -€33,838 | ▲ 42.0% |
| + Depreciation and write-downs630 | €6,050 | €4,367 | €3,375 | €2,903 | €4,182 | €5,812 | ▲ 39.0% |
| Operating cash flow (approximation) | -€48,653 | -€9,581 | -€24,650 | €103,657 | -€54,168 | -€28,026 | ▲ 48.3% |
| Investment in fixed assets (approximation) | - | -€16,973 | -€1,095 | -€14,187 | -€4,838 | €450 | - |
| Change in cash | - | €13,711 | -€44,515 | €101,873 | -€82,701 | -€528 | ▲ 99.4% |
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 | 01-07-2024 | 2024-00187203 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00379949 | |
| 31-12-2021 | micro format | 04-08-2022 | 2022-20268017 | |
| 31-12-2020 | micro format | 28-10-2021 | 2021-74700390 | |
| 31-12-2019 | micro format | 29-10-2020 | 2020-64800412 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59700306 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-60500391 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-53500129 | |
| 31-12-2015 | full format | 31-08-2016 | 2016-56900534 | |
| 31-12-2014 | full format | 30-08-2015 | 2015-55800063 |