CRONOS ITS
InactiveFinancials · financial year 2022, abbreviated format
2022 annual accounts filed late (7 days) Filed on 7 August 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00316691.
Turnover
€5.2m▲ 1.0%
2021 · €5.1m
EBIT margin
5.5%▼ 5.9pp
2021 · 11.4%
Net result
€163,919▼ 60.6%
2021 · €415,635
Working capital
€1.9m▲ 9.4%
2021 · €1.7m
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result has fallen two years in a row; 2022 is 52% below 2021 and is 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.
Turnover€5.2m
2022
Operating result€0.3m
2022
Net result€0.2m
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€2.7m
2022
Equity€1.9m
2022
Debt€0.8m
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1.9m
2022
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin5.5%
2022
Average staff in full-time equivalents (FTE).
Staff (FTE)64.9
2022
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Turnover€5.0m-€9.9m▲ 98.5%€11.8m▲ 18.8%€5.1m▼ 56.7%€5.2m▲ 1.0%
Operating result€0.4m-€0.4m▲ 3.0%€1.0m▲ 131%€0.6m▼ 39.3%€0.3m▼ 51.5%
Net result€0.3m-€0.3m▲ 0.5%€0.7m▲ 165%€0.4m▼ 38.3%€0.2m▼ 60.6%
EBIT margin8.1%-4.2%▼ 3.9pp8.1%▲ 4.0pp11.4%▲ 3.3pp5.5%▼ 5.9pp
Equity€0.4m-€0.6m▲ 69.4%€1.3m▲ 108%€1.7m▲ 32.1%€1.9m▲ 9.6%
Total assets€1.6m-€3.4m▲ 104%€4.3m▲ 27.2%€2.7m▼ 37.4%€2.7m▼ 0.7%
Debt€1.3m-€2.7m▲ 113%€3.0m▲ 8.8%€1.0m▼ 67.6%€0.8m▼ 18.9%
Working capital€0.4m-€0.6m▲ 69.2%€1.3m▲ 109%€1.7m▲ 32.1%€1.9m▲ 9.4%
Staff (FTE)54.2-78.8▲ 45.4%87.3▲ 10.8%66.4▼ 23.9%64.9▼ 2.3%
Why a figure moved sharply
- 2022 Net result -61% on 2021. The accounts now follow the abbreviated format, last year the full format.
- 2020 Net result +165% on 2019. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €2.7m
Fixed assets
€2,467 ▲ 1,341%
Current assets
€2.7m ▼ 0.8%
Equity and liabilities €2.7m
Equity
€1.9m ▲ 9.6%
Provisions
€290 =
Debt
€780,611 ▼ 18.9%
Debt's share of the balance-sheet total falls from 36.0% to 29.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€283,387▼
2021 · €582,574
Cash flow
€164,925▼
2021 · €415,979
Current ratio
3.40▲
2021 · 2.78
Debt to equity
0.42▼
2021 · 0.56
ROE
8.7%▼
2021 · 24.3%
ROA
6.2%▼
2021 · 15.5%
Interest coverage
22.07▼
2021 · 40.57
Debt ≤ 1 year
€780,611▼
2021 · €962,919
Income taxes
€109,652▼
2021 · €153,792
Staff costs
€3.7m▲
2021 · €3.5m
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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €5.1m | - | - |
| Turnover70 | €5.0m | €9.9m | €11.8m | €5.1m | €5.2m | ▲ 1.0% |
| Other operating income74 | - | - | - | €0.05m | - | - |
| Operating charges60/66A | - | - | - | €4.6m | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €1.2m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.2m | - | - |
| Purchases600/8 | - | - | - | €0.2m | - | - |
| Services and other goods61 | - | - | - | €0.8m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €3.5m | €3.7m | ▲ 4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €173 | €344 | €344 | €0.001m | ▲ 192% |
| Other operating charges640/8 | - | - | - | €0.003m | €0.002m | ▼ 17.1% |
| Gross operating margin9900 | €2.5m | €3.9m | - | - | €4.0m | - |
| Operating profit (loss)9901 | €0.4m | €0.4m | €1.0m | €0.6m | €0.3m | ▼ 51.5% |
| Financial income75/76B | - | - | - | €0.002m | €0.004m | ▲ 149% |
| Recurring financial income75 | - | €187 | €483 | €0.002m | €0.004m | ▲ 149% |
| Income from current assets751 | - | - | - | €0.002m | - | - |
| Other financial income752/9 | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.01m | €0.01m | ▼ 11.0% |
| Recurring financial charges65 | €0.01m | €0.01m | €0.04m | €0.01m | €0.01m | ▼ 11.0% |
| Debt charges650 | - | - | €0.04m | €0.01m | - | - |
| Other financial charges652/9 | - | - | - | €59 | - | - |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.4m | €0.9m | €0.6m | €0.3m | ▼ 52.0% |
| Income taxes67/77 | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 28.7% |
| Taxes670/3 | - | - | - | €0.2m | - | - |
| Profit (loss) for the period9904 | €0.3m | €0.3m | €0.7m | €0.4m | €0.2m | ▼ 60.6% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €0.06m | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.3m | €0.5m | €0.4m | €0.1m | ▼ 75.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €3.4m | €4.3m | €2.7m | €2.7m | ▼ 0.7% |
| Fixed assets21/28 | - | €0.001m | €0.001m | €171 | €0.002m | ▲ 1,341% |
| Tangible fixed assets22/27 | - | €0.001m | €0.001m | €171 | €0.002m | ▲ 1,341% |
| Plant, machinery and equipment23 | - | - | - | €171 | €0.002m | ▲ 1,341% |
| Current assets29/58 | €1.6m | €3.4m | €4.3m | €2.7m | €2.7m | ▼ 0.8% |
| Amounts receivable within one year40/41 | €1.6m | €3.3m | €4.2m | €2.6m | €2.6m | ▲ 0.2% |
| Trade receivables40 | - | - | - | €1.3m | €1.6m | ▲ 20.5% |
| Other amounts receivable41 | - | - | - | €1.3m | €1.1m | ▼ 20.0% |
| Cash at bank and in hand54/58 | €0.03m | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 17.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.02m | ▼ 56.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €3.4m | €4.3m | €2.7m | €2.7m | ▼ 0.7% |
| Equity10/15 | €0.4m | €0.6m | €1.3m | €1.7m | €1.9m | ▲ 9.6% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €0.6m | €1.2m | €1.2m | €1.3m | ▲ 5.1% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | ▲ 35.7% |
| Distributable reserves133 | - | - | - | €1.1m | €1.1m | = |
| Profit (loss) carried forward14 | €0.001m | €352 | €395 | €0.4m | €0.5m | ▲ 24.2% |
| Provisions and deferred taxes16 | - | - | €290 | €290 | €290 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €290 | €290 | = |
| Pensions and similar obligations160 | - | - | - | €290 | €290 | = |
| Amounts payable17/49 | €1.3m | €2.7m | €3.0m | €1.0m | €0.8m | ▼ 18.9% |
| Amounts payable within one year42/48 | €1.3m | €2.7m | €3.0m | €1.0m | €0.8m | ▼ 18.9% |
| Trade debts44 | €0.9m | €2.1m | €0.3m | €0.1m | €0.3m | ▲ 158% |
| Suppliers440/4 | - | - | - | €0.1m | €0.3m | ▲ 158% |
| Taxes, remuneration and social security45 | - | - | - | €0.8m | €0.5m | ▼ 45.7% |
| Taxes450/3 | - | - | - | €0.5m | €0.09m | ▼ 81.9% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.4m | ▲ 12.7% |
| Other amounts payable47/48 | - | - | - | - | €0.02m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €253,480 | €254,648 | €673,863 | €415,635 | €163,919 | ▼ 60.6% |
| + Depreciation and write-downs630 | - | €173 | €344 | €344 | €1,006 | ▲ 192% |
| Operating cash flow (approximation) | €253,480 | €254,821 | €674,207 | €415,979 | €164,925 | ▼ 60.4% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | -€3,302 | - |
| Change in cash | - | -€17,419 | €5,433 | €1,966 | -€3,602 | - |
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 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | abbreviated format | 07-08-2023 | 2023-00316691 |
| 31-12-2021 | full format | 24-08-2022 | 2022-20316987 |
| 31-12-2020 | full format | 06-09-2021 | 2021-66300003 |
| 31-12-2019 | abbreviated format | 18-12-2020 | 2020-76100359 |
| 31-12-2018 | abbreviated format | 19-08-2019 | 2019-47500531 |
| 31-12-2017 | abbreviated format | 23-07-2018 | 2018-37100528 |
| 31-12-2016 | full format | 03-07-2017 | 2017-27600122 |
| 31-12-2015 | full format | 12-07-2016 | 2016-31600388 |
| 31-12-2014 | full format | 25-06-2015 | 2015-23100233 |
| 31-12-2013 | full format | 04-07-2014 | 2014-27200413 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.