DEFY
BankruptcyFinancials · financial year 2021, micro format
2021 annual accounts filed late (110 days) Filed on 18 November 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20524942.
Equity
-€56,579▲ 37.1%
2020 · -€89,923
Total assets
€79,103▼ 40.3%
2020 · €132,501
Net result
€33,344
2020 · -€21,124
Working capital
-€58,370▲ 35.8%
2020 · -€90,955
Trend over the years
2018 to 2021, 4 financial years 2018 to 2021, 4 financial years
The operating result returns to profit in 2021: €34,451 after a loss of €20,890 in 2020, the highest 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.
Operating result€34,451
2021
Net result€33,344
2021
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€79,103
2021
Equity-€56,579
2021
Debt€135,682
2021
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€58,370
2021
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2021
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result-€10,061-€1,701-€20,890€34,451
Net result-€12,041-€482-€21,124€33,344
Equity-€69,280--€68,798▲ 0.7%-€89,923▼ 30.7%-€56,579▲ 37.1%
Total assets€125,628-€160,114▲ 27.5%€132,501▼ 17.2%€79,103▼ 40.3%
Debt€194,908-€228,913▲ 17.4%€222,424▼ 2.8%€135,682▼ 39.0%
Working capital-€72,742--€70,927▲ 2.5%-€90,955▼ 28.2%-€58,370▲ 35.8%
Staff (FTE)1-1
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €79,103
Fixed assets
€1,791 ▲ 73.5%
Current assets
€77,312 ▼ 41.2%
Equity and liabilities
Equity-€56,579
Debt€135,682
Equity is negative: debt (€135,682) exceeds the balance-sheet total (€79,103).
Key figures and ratios
EBITDA
€35,175▲
2020 · -€19,794
Cash flow
€34,068▲
2020 · -€20,028
Solvency
-71.5%▼
2020 · -67.9%
Current ratio
0.57▼
2020 · 0.59
Quick ratio
0.30▲
2020 · 0.26
ROA
42.2%▲
2020 · -15.9%
Interest coverage
31.78
Debt ≤ 1 year
€135,682▼
2020 · €222,424
Staff costs
€27,804
No debt to equity: equity is negative, so debt divided by equity means nothing.
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 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,321 | - |
| Remuneration, social security and pensions62 | - | - | - | €27,804 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,271 | €1,334 | €1,096 | €724 | ▼ 34.0% |
| Other operating charges640/8 | - | - | - | €9,398 | - |
| Gross operating margin9900 | €20,491 | €30,802 | -€1,218 | €72,376 | - |
| Operating profit (loss)9901 | -€10,061 | €1,701 | -€20,890 | €34,451 | - |
| Financial income75/76B | - | - | - | €0 | - |
| Recurring financial income75 | €147 | €645 | €2 | €0 | ▼ 91.4% |
| Financial charges65/66B | - | - | - | €1,107 | - |
| Recurring financial charges65 | €2,127 | €1,864 | €236 | €1,107 | ▲ 369% |
| Profit (loss) for the period before taxes9903 | -€12,041 | €482 | -€21,124 | €33,344 | - |
| Profit (loss) for the period9904 | -€12,041 | €482 | -€21,124 | €33,344 | - |
| Profit (loss) for the period to be appropriated9905 | -€12,041 | €482 | -€21,124 | €33,344 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €125,628 | €160,114 | €132,501 | €79,103 | ▼ 40.3% |
| Fixed assets21/28 | €3,462 | €2,129 | €1,032 | €1,791 | ▲ 73.5% |
| Tangible fixed assets22/27 | €3,282 | €1,949 | €852 | €1,611 | ▲ 89.0% |
| Furniture and vehicles24 | - | - | - | €1,611 | - |
| Financial fixed assets28 | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €122,166 | €157,986 | €131,469 | €77,312 | ▼ 41.2% |
| Stocks and contracts in progress3 | €109,807 | €100,714 | €73,150 | €36,022 | ▼ 50.8% |
| Stocks30/36 | - | - | - | €36,022 | - |
| Amounts receivable within one year40/41 | €10,809 | €55,614 | €54,241 | €17,552 | ▼ 67.6% |
| Trade receivables40 | - | - | - | €17,551 | - |
| Other amounts receivable41 | - | - | - | €1 | - |
| Cash at bank and in hand54/58 | €1,335 | €1,434 | €2,860 | €23,503 | ▲ 722% |
| Deferred charges and accrued income490/1 | - | - | - | €235 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €125,628 | €160,114 | €132,501 | €79,103 | ▼ 40.3% |
| Equity10/15 | -€69,280 | -€68,798 | -€89,923 | -€56,579 | ▲ 37.1% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | - |
| Contributions outside capital11 | - | - | - | €18,592 | - |
| Other1109/19 | - | - | - | €18,592 | - |
| Profit (loss) carried forward14 | -€87,872 | -€87,390 | -€108,515 | -€75,171 | ▲ 30.7% |
| Amounts payable17/49 | €194,908 | €228,913 | €222,424 | €135,682 | ▼ 39.0% |
| Amounts payable within one year42/48 | €194,908 | €228,913 | €222,424 | €135,682 | ▼ 39.0% |
| Trade debts44 | €11,675 | €40,691 | €61,249 | €25,177 | ▼ 58.9% |
| Suppliers440/4 | - | - | - | €25,177 | - |
| Advances received on contracts in progress46 | - | - | - | €11,379 | - |
| Taxes, remuneration and social security45 | - | - | - | €53,104 | - |
| Taxes450/3 | - | - | - | €48,054 | - |
| Remuneration and social security454/9 | - | - | - | €5,050 | - |
| Other amounts payable47/48 | - | - | - | €46,022 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,041 | €482 | -€21,124 | €33,344 | - |
| + Depreciation and write-downs630 | €1,271 | €1,334 | €1,096 | €724 | ▼ 34.0% |
| Operating cash flow (approximation) | -€10,769 | €1,815 | -€20,028 | €34,068 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,483 | - |
| Change in cash | - | €99 | €1,426 | €20,644 | ▲ 14× |
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 21 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2021 | micro format | 18-11-2022 | 2022-20524942 |
| 31-12-2020 | micro format | 20-01-2022 | 2022-01300085 |
| 31-12-2019 | micro format | 20-01-2022 | 2022-01200579 |
| 31-12-2018 | micro format | 25-11-2019 | 2019-74200437 |
| 31-12-2017 | micro format | 31-08-2018 | 2018-57100102 |
| 31-12-2016 | full format | 29-09-2017 | 2017-64900001 |
| 31-12-2015 | full format | 19-07-2016 | 2016-33900221 |
| 31-12-2014 | full format | 21-07-2015 | 2015-33800376 |
| 31-12-2013 | full format | 24-06-2014 | 2014-23800387 |
| 31-12-2012 | full format | 11-12-2013 | 2013-68600421 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.