DEAL
InactiveInactive; last annual accounts for fiscal year 2015.
Signals
Two signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2015. Since then, 10 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 6 filingsPosition against the passed deadline
31-12-2016 close31-07-2017 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2015 was due by 31-07-2016 and was filed on 19-07-2016, 12 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filings
The Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2015, abbreviated schema
Equity
€2.2m▲ 31.5%
2014 · €1.7m
Total assets
€4.0m▲ 14.2%
2014 · €3.5m
Net result
€528,053▲ 215%
2014 · €167,407
Working capital
€689,782▲ 165%
2014 · €260,424
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
Line20112012201320142015
Operating result€482,443-€417,256▼ 13.5%€509,594▲ 22.1%€551,739▲ 8.3%€1.0m▲ 86.6%
Net result€294,872-€777,374▲ 164%€297,013▼ 61.8%€167,407▼ 43.6%€528,053▲ 215%
Equity€482,933-€1.3m▲ 161%€1.5m▲ 19.9%€1.7m▲ 11.1%€2.2m▲ 31.5%
Total assets€1.3m-€3.1m▲ 132%€3.4m▲ 10.3%€3.5m▲ 1.3%€4.0m▲ 14.2%
Debt€858,928-€1.9m▲ 116%€1.9m▲ 3.7%€1.8m▼ 6.4%€1.8m▼ 2.0%
Working capital€316,816--€699,717€212,336€260,424▲ 22.6%€689,782▲ 165%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2012 the operating result has climbed three years in a row; 2015 is 87% above 2014 and is the highest result in the available series.
Balance-sheet composition
2015 in colour, 2014 as the grey bar beneath
Assets €4.0m
Fixed assets
€2.8m ▼ 0.3%
Current assets
€1.2m ▲ 75.5%
Equity and liabilities €4.0m
Equity
€2.2m ▲ 31.5%
Debt
€1.8m ▼ 2.0%
Debt's share of the balance-sheet total falls from 51.7% to 44.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.0m▲
2014 · €559,607
Cash flow
€535,571▲
2014 · €175,275
Current ratio
2.46▲
2014 · 1.65
Debt to equity
0.58▼
2014 · 0.82
ROE
23.9%▲
2014 · 10.0%
ROA
13.3%▲
2014 · 4.8%
Debt ≤ 1 year
€473,313▲
2014 · €402,496
Debt > 1 year
€1.3m▼
2014 · €1.4m
Income taxes
€438,268▲
2014 · €320,333
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2011 | 2012 | 2013 | 2014 | 2015 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,627 | €7,599 | €7,477 | €7,868 | €7,518 | ▼ 4.4% |
| Gross operating margin9900 | €490,951 | €426,680 | €518,768 | €561,053 | €1.0m | ▲ 85.1% |
| Operating profit (loss)9901 | €482,443 | €417,256 | €509,594 | €551,739 | €1.0m | ▲ 86.6% |
| Recurring financial income75 | €2,653 | €411,408 | €514 | €1,887 | €8,054 | ▲ 327% |
| Recurring financial charges65 | €35,384 | €48,049 | €56,926 | €67,207 | €71,371 | ▲ 6.2% |
| Profit (loss) for the period before taxes9903 | €449,712 | €780,615 | €453,182 | €487,739 | €966,321 | ▲ 98.1% |
| Income taxes67/77 | €154,840 | €3,241 | €156,169 | €320,333 | €438,268 | ▲ 36.8% |
| Profit (loss) for the period9904 | €294,872 | €777,374 | €297,013 | €167,407 | €528,053 | ▲ 215% |
| Profit (loss) for the period to be appropriated9905 | €294,872 | €777,374 | €297,013 | €167,407 | €528,053 | ▲ 215% |
| Line | 2011 | 2012 | 2013 | 2014 | 2015 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €3.1m | €3.4m | €3.5m | €4.0m | ▲ 14.2% |
| Fixed assets21/28 | €766,117 | €2.8m | €2.8m | €2.8m | €2.8m | ▼ 0.3% |
| Tangible fixed assets22/27 | €16,117 | €8,820 | €1,343 | €29,929 | €22,411 | ▼ 25.1% |
| Financial fixed assets28 | €750,000 | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Current assets29/58 | €575,744 | €320,583 | €647,667 | €662,920 | €1.2m | ▲ 75.5% |
| Amounts receivable within one year40/41 | €158,997 | €131,573 | €406,783 | €26,171 | €110,234 | ▲ 321% |
| Current investments50/53 | €400,000 | - | - | - | €40,000 | - |
| Cash at bank and in hand54/58 | €16,747 | €90,010 | €240,884 | €635,567 | €1.0m | ▲ 59.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €3.1m | €3.4m | €3.5m | €4.0m | ▲ 14.2% |
| Equity10/15 | €482,933 | €1.3m | €1.5m | €1.7m | €2.2m | ▲ 31.5% |
| Contributions10/11 | €18,600 | €18,600 | €434,823 | €434,823 | €434,823 | = |
| Reserves13 | €464,333 | €1.2m | €1.1m | €1.2m | €1.8m | ▲ 42.5% |
| Amounts payable17/49 | €858,928 | €1.9m | €1.9m | €1.8m | €1.8m | ▼ 2.0% |
| Amounts payable after more than one year17 | €600,000 | €826,117 | €1.5m | €1.4m | €1.3m | ▼ 7.2% |
| Amounts payable within one year42/48 | €258,928 | €1.0m | €435,331 | €402,496 | €473,313 | ▲ 17.6% |
| Trade debts44 | €732 | €1,861 | €1,769 | €640 | €2,432 | ▲ 280% |
| Line | 2011 | 2012 | 2013 | 2014 | 2015 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €294,872 | €777,374 | €297,013 | €167,407 | €528,053 | ▲ 215% |
| + Depreciation and write-downs630 | €7,627 | €7,599 | €7,477 | €7,868 | €7,518 | ▼ 4.4% |
| Operating cash flow (approximation) | €302,499 | €784,973 | €304,490 | €175,275 | €535,571 | ▲ 206% |
| Investment in fixed assets (approximation) | - | -€2.0m | €0 | -€36,454 | -€0 | ▲ 100.0% |
| Change in cash | - | €73,263 | €150,874 | €394,683 | €374,708 | ▼ 5.1% |
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
2016
19-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-12
Financial
Equity above €2mEq €2.2m ▲31.5%
5 profitable years in a row build equity to €2.2m.
03-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
31-12
Financial
Weakest financial yearnet €167,407 ▼43.6%
Net result drops to €167,407, the lowest in the series.
22-07
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2013
31-12
Financial
Liquidity times 5current ratio 1.49
Current ratio from 0.31 to 1.49; short-term debt falls from €1.0m to €435,331.
23-07
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
2012
31-12
Financial
Highest result since 2011net €777,374 ▲164%
Net result €777,374, the highest in the series.
31-12
Financial
Equity above €1mEq €1.3m ▲161%
2 profitable years in a row build equity to €1.3m.
24-07
NBB filing
Annual accounts filed
fiscal year 2011 · abbreviated schema
2011
19-07
NBB filing
Annual accounts filed
fiscal year 2010 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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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