CODABOX
InactiveInactive; last annual accounts for fiscal year 2024.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2024 was due by 31-03-2025 and was filed on 05-12-2024, 116 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2024
116 d early
2023
65 d early
2022
67 d early
2021
73 d early
2020
67 d early
2019
66 d early
2018
68 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€17.67M▼ 24.1%
2023 · €23.28M
EBIT margin
27.4%▼ 2.7pp
2023 · 30.1%
Net result
€3.67M▼ 31.6%
2023 · €5.37M
Working capital
€19.25M▲ 25.5%
2023 · €15.33M
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€14.93M▲ 15.1%€17.02M▲ 14.0%€19.34M▲ 13.7%€23.28M▲ 20.3%€17.67M▼ 24.1%
Operating result€1.06M€2.85M▲ 168%€4.33M▲ 52.0%€7.00M▲ 61.7%€4.83M▼ 30.9%
Net result€769k€2.07M▲ 169%€3.14M▲ 51.9%€5.37M▲ 70.7%€3.67M▼ 31.6%
EBIT margin7.1%▲ 9.5pp16.7%▲ 9.6pp22.4%▲ 5.6pp30.1%▲ 7.7pp27.4%▼ 2.7pp
Equity€3.11M▲ 32.9%€5.17M▲ 66.6%€8.32M▲ 60.7%€13.68M▲ 64.5%€17.35M▲ 26.8%
Total assets€5.86M▲ 12.4%€8.18M▲ 39.7%€12.33M▲ 50.7%€19.09M▲ 54.9%€23.76M▲ 24.5%
Debt€2.64M▼ 6.0%€2.86M▲ 8.3%€3.92M▲ 37.1%€5.32M▲ 35.8%€6.32M▲ 18.8%
Working capital€3.12M▲ 66.3%€5.28M▲ 69.1%€8.38M▲ 58.8%€15.33M▲ 82.9%€19.25M▲ 25.5%
Staff (FTE)39.6▼ 2.7%38.6▼ 2.5%36.9▼ 4.4%36▼ 2.4%33.3▼ 7.5%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 31% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €23.76M
Fixed assets
€7k ▼ 39.6%
Current assets
€23.76M ▲ 24.5%
Equity and liabilities €23.76M
Equity
€17.35M ▲ 26.8%
Provisions
€87k ▼ 0.4%
Debt
€6.32M ▲ 18.8%
Debt's share of the balance-sheet total falls from 27.9% to 26.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€4.84M▼
2023 · €7.01M
Cash flow
€3.67M▼
2023 · €5.38M
Current ratio
5.27▲
2023 · 5.09
Debt to equity
0.36▼
2023 · 0.39
ROE
21.2%▼
2023 · 39.2%
ROA
15.4%▼
2023 · 28.1%
Interest coverage
426.75▲
2023 · 402.81
Debt ≤ 1 year
€4.51M▲
2023 · €3.75M
Income taxes
€1.23M▼
2023 · €1.80M
Staff costs
€2.69M▼
2023 · €3.92M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €17.43M | €19.58M | €23.66M | €18.15M | ▼ 23.3% |
| Turnover70 | €14.93M | €17.02M | €19.34M | €23.28M | €17.67M | ▼ 24.1% |
| Other operating income74 | - | €416k | €234k | €384k | €476k | ▲ 23.9% |
| Operating charges60/66A | - | €14.59M | €15.25M | €16.66M | €13.31M | ▼ 20.1% |
| Goods for resale, raw materials and consumables60 | - | €3.15M | €3.58M | €4.68M | €3.59M | ▼ 23.3% |
| Purchases600/8 | - | €3.15M | €3.58M | €4.68M | €3.59M | ▼ 23.3% |
| Services and other goods61 | - | €7.59M | €8.07M | €8.02M | €7.07M | ▼ 11.8% |
| Remuneration, social security and pensions62 | - | €3.77M | €3.62M | €3.92M | €2.69M | ▼ 31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €469k | €31k | €21k | €11k | €4k | ▼ 62.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €8k | €25k | €24k | €-46k | ▼ 293% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €35k | €-58k | €-320 | €-332 | ▼ 3.8% |
| Other operating charges640/8 | - | €7k | €68 | €3k | €1k | ▼ 63.0% |
| Operating profit (loss)9901 | €1.06M | €2.85M | €4.33M | €7.00M | €4.83M | ▼ 30.9% |
| Financial income75/76B | - | €1k | €769 | €192k | €78k | ▼ 59.3% |
| Recurring financial income75 | €252 | €1k | €769 | €192k | €78k | ▼ 59.3% |
| Income from current assets751 | - | - | - | €192k | €78k | ▼ 59.4% |
| Other financial income752/9 | - | €1k | €769 | €209 | €272 | ▲ 30.0% |
| Financial charges65/66B | - | €25k | €41k | €23k | €16k | ▼ 29.1% |
| Recurring financial charges65 | €22k | €25k | €41k | €23k | €16k | ▼ 29.1% |
| Debt charges650 | €17k | €18k | €17k | €17k | €11k | ▼ 34.9% |
| Other financial charges652/9 | - | €6k | €24k | €6k | €5k | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €1.06M | €2.82M | €4.29M | €7.17M | €4.90M | ▼ 31.7% |
| Income taxes67/77 | €295k | €755k | €1.15M | €1.80M | €1.23M | ▼ 32.0% |
| Taxes670/3 | - | €755k | €1.15M | €1.82M | €1.23M | ▼ 32.4% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €19k | €6k | ▼ 67.1% |
| Profit (loss) for the period9904 | €769k | €2.07M | €3.14M | €5.37M | €3.67M | ▼ 31.6% |
| Profit (loss) for the period to be appropriated9905 | €769k | €2.07M | €3.14M | €5.37M | €3.67M | ▼ 31.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.86M | €8.18M | €12.33M | €19.09M | €23.76M | ▲ 24.5% |
| Fixed assets21/28 | €96k | €43k | €22k | €11k | €7k | ▼ 39.6% |
| Tangible fixed assets22/27 | €67k | €36k | €15k | €4k | - | - |
| Furniture and vehicles24 | - | €19k | €6k | €2k | - | - |
| Other tangible fixed assets26 | - | €17k | €9k | €2k | - | - |
| Financial fixed assets28 | €30k | €7k | €7k | €7k | €7k | = |
| Other financial fixed assets284/8 | - | €7k | €7k | €7k | €7k | = |
| Amounts receivable and cash guarantees285/8 | - | €7k | €7k | €7k | €7k | = |
| Current assets29/58 | €5.76M | €8.14M | €12.30M | €19.08M | €23.76M | ▲ 24.5% |
| Amounts receivable within one year40/41 | €1.23M | €869k | €1.57M | €4.03M | €4.71M | ▲ 17.1% |
| Trade receivables40 | - | €869k | €1.54M | €3.87M | €4.71M | ▲ 21.7% |
| Other amounts receivable41 | - | - | €35k | €154k | - | - |
| Current investments50/53 | - | - | - | €10.00M | - | - |
| Other investments51/53 | - | - | - | €10.00M | - | - |
| Cash at bank and in hand54/58 | €4.34M | €7.07M | €10.51M | €4.87M | €18.73M | ▲ 285% |
| Deferred charges and accrued income490/1 | - | €197k | €219k | €188k | €314k | ▲ 67.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.86M | €8.18M | €12.33M | €19.09M | €23.76M | ▲ 24.5% |
| Equity10/15 | €3.11M | €5.17M | €8.32M | €13.68M | €17.35M | ▲ 26.8% |
| Contributions10/11 | €2.61M | €2.61M | €2.61M | €2.61M | €2.61M | = |
| Capital10 | - | €2.61M | €2.61M | €2.61M | €2.61M | = |
| Issued capital100 | - | €2.78M | €2.78M | €2.78M | €2.78M | = |
| Uncalled capital101 | - | €178k | €178k | €178k | €178k | = |
| Reserves13 | €40k | €143k | €278k | €278k | €278k | = |
| Non-distributable reserves130/1 | - | €143k | €278k | €278k | €278k | = |
| Legal reserve130 | - | €143k | €278k | €278k | €278k | = |
| Profit (loss) carried forward14 | €459k | €2.42M | €5.43M | €10.80M | €14.47M | ▲ 34.0% |
| Provisions and deferred taxes16 | €111k | €146k | €88k | €87k | €87k | ▼ 0.4% |
| Provisions for liabilities and charges160/5 | - | €146k | €88k | €87k | €87k | ▼ 0.4% |
| Pensions and similar obligations160 | - | €146k | €88k | €87k | €87k | ▼ 0.4% |
| Amounts payable17/49 | €2.64M | €2.86M | €3.92M | €5.32M | €6.32M | ▲ 18.8% |
| Amounts payable within one year42/48 | €2.64M | €2.86M | €3.92M | €3.75M | €4.51M | ▲ 20.2% |
| Trade debts44 | €1.92M | €1.99M | €2.93M | €2.78M | €3.36M | ▲ 21.2% |
| Suppliers440/4 | - | €1.99M | €2.93M | €2.78M | €3.36M | ▲ 21.2% |
| Taxes, remuneration and social security45 | - | €873k | €992k | €974k | €1.15M | ▲ 17.7% |
| Taxes450/3 | - | €113k | €200k | €85k | €274k | ▲ 220% |
| Remuneration and social security454/9 | - | €760k | €792k | €889k | €873k | ▼ 1.8% |
| Accrued charges and deferred income492/3 | - | €172 | - | €1.57M | €1.81M | ▲ 15.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €769k | €2.07M | €3.14M | €5.37M | €3.67M | ▼ 31.6% |
| + Depreciation and write-downs630 | €469k | €31k | €21k | €11k | €4k | ▼ 62.0% |
| Operating cash flow (approximation) | €1.24M | €2.10M | €3.16M | €5.38M | €3.67M | ▼ 31.7% |
| Investment in fixed assets (approximation) | - | €23k | €0 | €0 | €0 | - |
| Change in cash | - | €2.73M | €3.44M | €-5.65M | €13.86M | ▲ 345% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
14-02
State Gazette act
General meeting · Merger
Accounting effect · Capital increase · Tim CARNEWAL
2024
05-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
26-11
State Gazette act
Merger · Corporate purpose
Net-asset statement · Accounting effect
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €5.37M ▲70.7%
Operating result €7.00M, net result €5.37M, both a record.
31-12
Financial
Equity above €10MEq €13.68M ▲64.5%
4 profitable years in a row build equity to €13.68M.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €5MEq €5.17M ▲66.6%
2 profitable years in a row build equity to €5.17M.
25-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €769k
Net result €769k after one loss-making year.
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-333k
Net result drops to €-333k, the lowest in the series.
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-11
State Gazette act
Merger · Corporate purpose
Accounting effect · Net-asset statement
24-11
State Gazette act
Corporate purpose · Demerger
Accounting effect · Net-asset statement
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
07-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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About the unread acts
We know of 33 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Acquisitions and mergers
2 transactionsTaken over by:WOLTERS KLUWER BELGIUM
Received a branch of activity from:Isabel NV
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 3,655 EUR awarded · 3,655 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,994 EUR | 1,994 EUR |
| 2023 | 1 | 1,661 EUR | 1,661 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
8755001CHZRWEQGGNM60