COMODULAR (0466.587.123), Inactive: financials and annual accounts

Annual accounts 2014

abbreviated format, filed on 26-11-2014, 26 days late

Gross margin

-€30,880

▼ €88,815

Operating result

-€37,252

▼ €86,974

EBITDA

-€31,888

▼ €87,555

Cash flow

-€71,667

▼ €104,425

Solvency

94.4%

▲ 25.0 percentage points

Current ratio

16.25

▲ 13.15

Money flows

no detail for 2014

Balance sheet

balance sheet total €44,588 on 31-03-2014

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE

Staff costs divided by the average number of full-time equivalents.

Joined and left

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	44,588	171,599	473,758	782,449	657,892	1.1m	720,882	669,294
Fixed assets`21/28`	3,967	9,331	15,276	21,802	11,800	5,434	8,636	7,240
Tangible fixed assets`22/27`	3,050	8,414	14,359	20,885	10,883	4,517	7,719	6,323
Plant, machinery and equipment`23`	-	2,314	5,209	8,684	10,883	4,517	7,273	5,204
Furniture and vehicles`24`	2,442	4,883	7,325	9,766	-	-	445	1,118
Other tangible fixed assets`26`	609	1,217	1,826	2,434	-	-	-	-
Financial fixed assets`28`	917	917	917	917	917	917	917	917
Current assets`29/58`	40,621	162,268	458,482	760,648	646,092	1.1m	712,246	662,055
Amounts receivable within one year`40/41`	3,459	11,115	153,745	275,288	306,278	603,658	339,132	364,466
Trade receivables`40`	-	7,482	96,671	186,559	229,129	534,655	206,759	224,043
Other amounts receivable`41`	3,459	3,634	57,074	88,729	77,149	69,004	132,373	140,423
Current investments`50/53`	21,704	21,704	104	187,688	186,080	283,641	99,500	99,500
Cash at bank and in hand`54/58`	15,457	128,964	304,633	293,122	152,514	189,891	272,155	191,151
Deferred charges and accrued income`490/1`	-	485	-	4,549	1,220	2,424	1,460	6,938
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	44,588	171,599	473,758	782,449	657,892	1.1m	720,882	669,294
Equity`10/15`	42,087	119,118	92,306	34,173	91,489	341,156	289,183	232,865
Contributions`10/11`	21,000	21,000	21,000	21,000	21,000	21,000	21,000	21,000
Issued capital`100`	21,000	21,000	21,000	21,000	21,000	21,000	21,000	21,000
Reserves`13`	21,087	98,118	71,306	70,489	70,489	320,156	268,183	211,865
Legal reserve`130`	2,100	2,100	2,100	2,100	2,100	2,100	2,100	2,100
Distributable reserves`133`	18,987	96,018	69,206	68,389	68,389	318,056	266,083	209,765
Profit (loss) carried forward`14`	-	-	-	-57,316	-	-	-	-
Provisions and deferred taxes`16`	-	-	-	140,000	-	19,500	-	-
Provisions for liabilities and charges`160/5`	-	-	-	140,000	-	19,500	-	-
Amounts payable`17/49`	2,500	52,481	381,452	608,276	566,403	724,392	431,699	436,430
Amounts payable after more than one year`17`	-	-	111,000	300,000	-	-	-	-
Financial debts`170/4`	-	-	111,000	300,000	-	-	-	-
Amounts payable within one year`42/48`	2,500	52,481	270,452	308,276	566,403	724,392	431,699	436,430
Financial debts`43`	99	-	-	-	-	-	-	-
Credit institutions`430/8`	99	-	-	-	-	-	-	-
Trade debts`44`	2,402	37,743	258,525	292,295	193,596	340,127	376,635	388,515
Suppliers`440/4`	2,402	37,743	258,525	292,295	193,596	340,127	376,635	388,515
Advances received on contracts in progress`46`	-	1,783	-	-	-	308,618	-	6,640
Taxes, remuneration and social security`45`	-	12,954	11,927	15,982	72,807	75,647	55,063	41,274
Taxes`450/3`	-	12,954	11,927	2,592	55,667	63,370	35,879	20,700
Remuneration and social security`454/9`	-	-	-	13,389	17,140	12,277	19,184	20,574
Other amounts payable`47/48`	-	-	-	-	300,000	-	-	-
Income statement
Turnover`70`	-	202,553	595,877	1.1m	951,674	1.2m	1.3m	1.3m
Non-recurring operating income`76A`	43	-	-	-	-	17,604	-	-
Gross operating margin`9900`	-30,880	57,935	87,803	308,202	277,374	363,480	410,777	414,892
Goods, raw materials, services and sundry goods`60/61`	-	216,077	790,265	803,451	675,000	828,590	899,630	928,835
Remuneration, social security and pensions`62`	-	104	148,969	206,919	200,314	252,992	298,756	348,404
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	5,364	5,945	6,526	6,994	5,283	4,606	4,366	2,695
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-	-	-140,000	140,000	-	-	-	-
Other operating charges`640/8`	1,008	2,164	1,160	865	853	853	882	853
Non-recurring operating charges`66A`	6,750	-	791	-	-	66,210	-	-
Operating profit (loss)`9901`	-37,252	49,722	71,149	-46,576	70,926	105,030	106,773	62,940
Financial income`75/76B`	3,972	287	20,943	2,254	10,451	57,236	7,500	2,813
Recurring financial income`75`	3,972	287	20,943	2,254	10,451	57,236	7,500	2,813
Financial charges`65/66B`	37,044	10,298	21,150	12,995	4,943	33,220	24,880	11,860
Recurring financial charges`65`	37,044	10,298	21,150	12,995	4,943	33,220	24,880	11,860
Profit (loss) for the period before taxes`9903`	-77,031	39,711	70,151	-57,316	76,434	80,440	89,392	53,893
Income taxes`67/77`	-	12,898	12,019	-	26,101	28,467	33,074	38,905
Profit (loss) for the period`9904`	-77,031	26,813	58,132	-57,316	50,333	51,973	56,318	14,988
Profit (loss) for the period to be appropriated`9905`	-77,031	26,813	58,132	-57,316	50,333	51,973	56,318	14,988
Appropriation of the result
Profit (loss) to be appropriated`9906`	-77,031	26,813	816	-57,316	50,333	51,973	56,318	14,988
Transfer from equity`791/2`	77,031	-	-	-	300,000	-	-	-
Transfer to equity`691/2`	-	26,813	816	-	50,333	51,973	56,318	14,988
To other reserves`6921`	-	26,813	816	-	50,333	51,973	56,318	14,988
Profit to be distributed`694/7`	-	-	-	-	300,000	-	-	-
Return on contributions (dividend)`694`	-	-	-	-	300,000	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	0.7	1.3	2	2	3.5	4.3
Hours worked`1013`	-	-	874	2,296	3,309	4,796	6,065	7,159
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The accounts for 7 older financial years (2000-2006) were filed as documents without figures as data, scans for example.

Source: Annual accounts 2014 (PDF), filed on 26-11-2014.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-03-2014	abbreviated format	26-11-2014	2014-67900023	PDF
31-03-2013	abbreviated format	29-10-2013	2013-64300518	PDF
31-03-2012	abbreviated format	20-09-2012	2012-56900570	PDF
31-03-2011	abbreviated format	05-09-2011	2011-53600203	PDF
31-03-2010	abbreviated format	28-09-2010	2010-55400171	PDF
31-03-2009	abbreviated format	01-10-2009	2009-79600037	PDF
31-03-2008	abbreviated format	19-11-2008	2008-81600371	PDF
31-03-2007	abbreviated format	05-11-2007	2007-79500064	PDF
31-03-2006	abbreviated format	30-11-2006	2006-89105221	PDF
31-03-2005	abbreviated format	01-03-2006	2006-06104500	PDF
31-03-2004	abbreviated format	11-03-2005	2005-07403117	PDF
31-03-2003	abbreviated format	29-10-2003	2003-76702221	PDF
31-03-2002	abbreviated format	10-03-2003	2003-06505354	PDF
31-03-2001	abbreviated format	12-11-2001	2001-69103323	PDF
31-03-2000	abbreviated format	11-01-2001	2001-01003653	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	-31,888	55,667	77,674	-39,582	76,208	109,636	111,139	65,635
Cash flow	-71,667	32,758	64,658	-50,322	55,616	56,579	60,684	17,683
Investment in fixed assets (approximation)	0	0	0	16,995	11,649	1,404	5,762	-
Change in cash	-113,507	-175,669	11,511	140,608	-37,377	-82,264	81,004	-
Working capital	38,120	109,788	188,030	452,372	79,689	355,222	280,547	225,625
EBIT margin	-	24.5%	11.9%	-4.2%	7.5%	8.8%	8.1%	4.7%
Solvency	94.4%	69.4%	19.5%	4.4%	13.9%	31.4%	40.1%	34.8%
Current ratio	16.25	3.09	1.70	2.47	1.14	1.49	1.65	1.52
Debt to equity	0.06	0.44	4.13	17.80	6.19	2.12	1.49	1.87
ROE	-183.0%	22.5%	63.0%	-167.7%	55.0%	15.2%	19.5%	6.4%
ROA	-172.8%	15.6%	12.3%	-7.3%	7.7%	4.8%	7.8%	2.2%
Customer credit	-	13 days	59 days	61 days	88 days	164 days	58 days	62 days
Supplier credit	-	64 days	119 days	133 days	105 days	150 days	153 days	153 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.

Insights on COMODULAR

The operating result for 2014 is a loss of €37,252, after a profit of €49,722 in 2013. It is the lowest result since 2011.

Debt's share of the balance-sheet total falls from 30.6% to 5.6%. Equity and debt are lower.