DARWIN BBDO
Absorbed by VAN HEES-VLESSING-LAGRILLERE - BATTEN BARTON DURSTINE EN OSBORNFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 13-06-2024 PDF all 40 filings
Turnover
€4.9m
EBIT margin
7.4%
Net result
€168,784▲ 5.8%
2022 · €159,523
Working capital
€498,158▲ 59.4%
2022 · €312,436
Multi-year overview
2018 to 2023, 6 financial yearsTurnover
no figure
2023
20182023
Operating result
€226,945
▼ 3.6%
2023
20182023
Net result
€168,784
▲ 5.8%
2023
20182023
EBIT margin
no figure
2023
20182023
Equity
€566,449
▲ 42.4%
2023
20182023
Total assets
€3.2m
▼ 51.7%
2023
20182023
Debt
€2.7m
▼ 57.7%
2023
20182023
Working capital
€498,158
▲ 59.4%
2023
20182023
Staff (FTE)
10.6
▲ 3.9%
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Turnover€4.9m-
Operating result€0.4m-€0.4m▲ 20.8%€0.5m▲ 6.7%€0.4m▼ 10.1%€0.2m▼ 43.1%€0.2m▼ 3.6%
Net result€0.2m-€0.3m▲ 27.7%€0.3m▲ 4.5%€0.3m▼ 5.9%€0.2m▼ 45.5%€0.2m▲ 5.8%
EBIT margin7.4%-
Equity€0.4m-€0.5m▲ 18.7%€0.5m▲ 4.3%€0.5m▲ 0.6%€0.4m▼ 23.3%€0.6m▲ 42.4%
Total assets€1.4m-€2.0m▲ 39.6%€3.5m▲ 74.9%€4.0m▲ 14.0%€6.7m▲ 68.8%€3.2m▼ 51.7%
Debt€1.0m-€1.5m▲ 48.2%€3.0m▲ 98.2%€3.5m▲ 16.4%€6.3m▲ 82.6%€2.7m▼ 57.7%
Working capital€0.3m-€0.4m▲ 23.9%€0.4m▲ 2.5%€0.5m▲ 7.3%€0.3m▼ 34.5%€0.5m▲ 59.4%
Staff (FTE)9.3-10.9▲ 17.2%13.8▲ 26.6%12.6▼ 8.7%10.2▼ 19.0%10.6▲ 3.9%
The operating result for 2023 is 4% lower than in 2022 and the lowest since 2018. It is the third fall in a row.
Large changes and their cause
- 2023 Total assets -52% on 2022. Last accounts before the absorption by VAN HEES-VLESSING-LAGRILLERE - BATTEN BARTON DURSTINE EN OSBORN (Official Gazette 20-08-2024).
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €3.2m
Fixed assets
€78,918 ▼ 19.4%
Current assets
€3.2m ▼ 52.2%
Equity and liabilities €3.2m
Equity
€566,449 ▲ 42.4%
Debt
€2.7m ▼ 57.7%
Debt's share of the balance-sheet total falls from 94.1% to 82.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€245,937▼
2022 · €249,994
Cash flow
€187,775▲
2022 · €174,021
Current ratio
1.19▲
2022 · 1.05
Quick ratio
1.18▲
2022 · 1.05
Debt to equity
4.72▼
2022 · 15.88
ROE
29.8%▼
2022 · 40.1%
ROA
5.2%▲
2022 · 2.4%
Interest coverage
33.28▲
2022 · 32.69
Debt ≤ 1 year
€2.7m▼
2022 · €6.3m
Debt > 1 year
€10,627▼
2022 · €12,681
Income taxes
€74,210▲
2022 · €70,035
Staff costs
€771,266▲
2022 · €732,513
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 | 12 | 11 | 11 |
| full-time | 10 | 10 | 10 |
| part-time | 2 | 1 | 1 |
| in full-time equivalents | 11.8 | 10.9 | 10.9 |
| Average over the year, in full-time equivalents | 12.6 | 10.2 | 10.6 |
| On a permanent contract | 12 | 11 | 11 |
| Joined | 6 | 5 | 1 |
| Left | 9 | 6 | 1 |
| Training hours | 22 | 13 | 17 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €7,425 | €54,914 | - |
| Depreciation and write-downs of the year | €37,307 | €14,498 | €18,992 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Public contracts
4 awards · 2017 to 2023
Europese Aardappelen Promotiecampagne.: Gezamenlijke acties + acties Europatat
Europese Aardappelen Promotiecampagne
Ontwikkelen en uitvoeren promotiecampagnes interne markt 2018-2021: Full service opdrachten
Ontwikkelen en uitvoeren promotiecampagnes interne markt 2018-2021: Opdrachten voor conceptontwikkeling en visuele creatie
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €4.9m | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.0m | €0.7m | €0.8m | ▲ 5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.01m | €0.01m | €0.04m | €0.01m | €0.02m | ▲ 31.0% |
| Other operating charges640/8 | - | - | - | €0.008m | €0.004m | - | - |
| Gross operating margin9900 | - | €1.2m | €1.4m | €1.4m | €1.0m | €1.0m | ▲ 3.1% |
| Operating profit (loss)9901 | €0.4m | €0.4m | €0.5m | €0.4m | €0.2m | €0.2m | ▼ 3.6% |
| Financial income75/76B | - | - | - | €405 | €0.002m | €0.02m | ▲ 14× |
| Recurring financial income75 | €132 | €112 | €176 | €405 | €0.002m | €0.02m | ▲ 14× |
| Financial charges65/66B | - | - | - | €0.008m | €0.008m | €0.007m | ▼ 3.4% |
| Recurring financial charges65 | €0.005m | €0.005m | €0.007m | €0.008m | €0.008m | €0.007m | ▼ 3.4% |
| Debt charges650 | €0.005m | - | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.4m | €0.5m | €0.4m | €0.2m | €0.2m | ▲ 5.9% |
| Income taxes67/77 | €0.1m | €0.1m | €0.1m | €0.1m | €0.07m | €0.07m | ▲ 6.0% |
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 5.8% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 5.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €1.4m | €2.0m | €3.5m | €4.0m | €6.7m | €3.2m | ▼ 51.7% |
| Fixed assets21/28 | €0.08m | €0.07m | €0.09m | €0.06m | €0.1m | €0.08m | ▼ 19.4% |
| Tangible fixed assets22/27 | €0.06m | €0.05m | €0.06m | €0.03m | €0.07m | €0.05m | ▼ 26.0% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.03m | €0.02m | ▼ 21.3% |
| Leasing and similar rights25 | - | - | - | €0.02m | €0.02m | €0.01m | ▼ 33.8% |
| Other tangible fixed assets26 | - | - | - | - | €0.02m | €0.02m | ▼ 26.2% |
| Financial fixed assets28 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Current assets29/58 | €1.3m | €1.9m | €3.4m | €3.9m | €6.6m | €3.2m | ▼ 52.2% |
| Stocks and contracts in progress3 | €0.003m | €0.007m | - | €0.02m | €281 | €0.01m | ▲ 42× |
| Contracts in progress37 | - | - | - | €0.02m | €281 | €0.01m | ▲ 42× |
| Amounts receivable within one year40/41 | €0.7m | €1.2m | €2.5m | €2.6m | €3.7m | €2.6m | ▼ 30.8% |
| Trade receivables40 | - | - | - | €2.6m | €3.5m | €2.1m | ▼ 39.9% |
| Other amounts receivable41 | - | - | - | €145 | €0.2m | €0.5m | ▲ 104% |
| Cash at bank and in hand54/58 | €0.7m | €0.7m | €0.9m | €1.2m | €2.9m | €0.6m | ▼ 80.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | €0.02m | ▼ 22.3% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €1.4m | €2.0m | €3.5m | €4.0m | €6.7m | €3.2m | ▼ 51.7% |
| Equity10/15 | €0.4m | €0.5m | €0.5m | €0.5m | €0.4m | €0.6m | ▲ 42.4% |
| Contributions10/11 | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Capital10 | - | - | - | €0.09m | €0.09m | €0.09m | = |
| Issued capital100 | - | - | - | €0.09m | €0.09m | €0.09m | = |
| Contributions outside capital11 | - | - | - | - | - | €0 | - |
| Other1109/19 | - | - | - | - | - | €0 | - |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.009m | €0.009m | €0.009m | = |
| Legal reserve130 | - | - | - | €0.009m | €0.009m | €0.009m | = |
| Tax-exempt reserves132 | - | - | - | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) carried forward14 | €0.3m | €0.4m | €0.4m | €0.4m | €0.3m | €0.5m | ▲ 57.8% |
| Amounts payable17/49 | €1.0m | €1.5m | €3.0m | €3.5m | €6.3m | €2.7m | ▼ 57.7% |
| Amounts payable after more than one year17 | €0.02m | €0.01m | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 16.2% |
| Financial debts170/4 | - | - | - | €0.02m | €0.01m | €0.01m | ▼ 16.2% |
| Amounts payable within one year42/48 | €1.0m | €1.5m | €3.0m | €3.4m | €6.3m | €2.7m | ▼ 57.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.003m | €0.006m | €0.002m | ▼ 66.5% |
| Trade debts44 | €0.9m | €1.0m | €2.4m | €2.5m | €5.3m | €2.0m | ▼ 62.6% |
| Suppliers440/4 | - | - | - | €2.5m | €5.3m | €2.0m | ▼ 62.6% |
| Advances received on contracts in progress46 | - | - | - | €0.6m | €0.8m | €0.5m | ▼ 37.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.1m | €0.1m | ▲ 6.2% |
| Taxes450/3 | - | - | - | €0.2m | €0.04m | €0.07m | ▲ 63.3% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.1m | €0.08m | ▼ 18.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 5.8% |
| + Depreciation and write-downs630 | €0.07m | €0.01m | €0.01m | €0.04m | €0.01m | €0.02m | ▲ 31.0% |
| Operating cash flow (approximation) | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 7.9% |
| Investment in fixed assets (approximation) | - | €0 | -€0.03m | -€0.007m | -€0.05m | €0 | - |
| Change in cash | - | €0.02m | €0.2m | €0.4m | €1.7m | -€2.3m | - |
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 40 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 13-06-2024 | 2024-00134886 | |
| 31-12-2022 | abbreviated format | 25-07-2023 | 2023-00297641 | |
| 31-12-2021 | abbreviated format | 23-09-2022 | 2022-20441163 | |
| 31-12-2020 | abbreviated format | 22-07-2021 | 2021-40900362 | |
| 31-12-2019 | abbreviated format | 26-08-2020 | 2020-45600286 | |
| 31-12-2018 | full format | 09-07-2019 | 2019-30500350 | |
| 31-12-2017 | full format | 26-06-2018 | 2018-22200528 | |
| 31-12-2016 | full format | 15-06-2017 | 2017-17900164 | |
| 31-12-2015 | full format | 09-06-2016 | 2016-16300400 | |
| 31-12-2014 | full format | 03-07-2015 | 2015-26400185 |