DYNAMICS
InactiveFinancials · financial year 2023, abbreviated format
Equity
€1.7m▲ 12.0%
2022 · €1.5m
Total assets
€2.7m▲ 16.3%
2022 · €2.3m
Net result
€208,109▼ 4.5%
2022 · €217,876
Working capital
€1.6m▲ 10.6%
2022 · €1.5m
Trend over the years
2019 to 2023, 5 financial years 2019 to 2023, 5 financial years
The operating result has fallen two years in a row; 2023 is 4% below 2022 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.
Operating result€0.3m
2023
Net result€0.2m
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€2.7m
2023
Equity€1.7m
2023
Debt€1.0m
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1.6m
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)17.6
2023
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€0.6m-€0.3m▼ 43.6%€0.7m▲ 108%€0.3m▼ 53.3%€0.3m▼ 4.0%
Net result€0.4m-€0.2m▼ 45.4%€0.5m▲ 129%€0.2m▼ 55.0%€0.2m▼ 4.5%
Equity€1.8m-€1.9m▲ 6.9%€2.4m▲ 25.8%€1.5m▼ 36.0%€1.7m▲ 12.0%
Total assets€2.7m-€2.5m▼ 7.5%€3.2m▲ 28.1%€2.3m▼ 27.5%€2.7m▲ 16.3%
Debt€0.9m-€0.6m▼ 34.7%€0.8m▲ 35.1%€0.8m▼ 3.0%€1.0m▲ 24.4%
Working capital€1.7m-€2.0m▲ 14.9%€2.4m▲ 21.9%€1.5m▼ 39.0%€1.6m▲ 10.6%
Staff (FTE)13.8-15▲ 8.7%15=19▲ 26.7%17.6▼ 7.4%
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €2.7m
Fixed assets
€114,430 ▼ 0.6%
Current assets
€2.6m ▲ 17.2%
Equity and liabilities €2.7m
Equity
€1.7m ▲ 12.0%
Debt
€991,629 ▲ 24.4%
Debt's share of the balance-sheet total rises from 34.5% to 36.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€321,636▼
2022 · €333,286
Cash flow
€235,290▼
2022 · €244,289
Current ratio
2.74▼
2022 · 3.05
Quick ratio
2.18▼
2022 · 2.87
Debt to equity
0.59▲
2022 · 0.53
ROE
12.3%▼
2022 · 14.4%
ROA
7.7%▼
2022 · 9.4%
Interest coverage
over 100
2022 · over 100
Debt ≤ 1 year
€939,569▲
2022 · €718,668
Debt > 1 year
€49,247▼
2022 · €62,759
Income taxes
€86,189▼
2022 · €87,831
Staff costs
€1.2m▲
2022 · €1.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1.2m | €1.2m | ▲ 1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.04m | €0.03m | €0.03m | €0.03m | ▲ 2.9% |
| Other operating charges640/8 | - | - | - | €441 | €0.002m | ▲ 279% |
| Gross operating margin9900 | €1.4m | €1.2m | €1.6m | €1.5m | €1.5m | ▲ 0.7% |
| Operating profit (loss)9901 | €0.6m | €0.3m | €0.7m | €0.3m | €0.3m | ▼ 4.0% |
| Financial income75/76B | - | - | - | €0.002m | €0.002m | ▲ 47.8% |
| Recurring financial income75 | €0.004m | €0.003m | €0.003m | €0.002m | €0.002m | ▲ 47.8% |
| Financial charges65/66B | - | - | - | €0.003m | €0.003m | ▼ 8.3% |
| Recurring financial charges65 | €0.005m | €0.004m | €0.005m | €0.003m | €0.003m | ▼ 8.3% |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.3m | €0.7m | €0.3m | €0.3m | ▼ 3.7% |
| Income taxes67/77 | €0.2m | €0.1m | €0.2m | €0.09m | €0.09m | ▼ 1.9% |
| Profit (loss) for the period9904 | €0.4m | €0.2m | €0.5m | €0.2m | €0.2m | ▼ 4.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.2m | €0.2m | ▼ 17.3% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.1m | €0.5m | €0.4m | €0.4m | ▼ 10.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €2.5m | €3.2m | €2.3m | €2.7m | ▲ 16.3% |
| Fixed assets21/28 | €0.06m | €0.05m | €0.1m | €0.1m | €0.1m | ▼ 0.6% |
| Intangible fixed assets21 | €0.003m | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €0.05m | €0.05m | €0.1m | €0.1m | €0.1m | ▼ 0.6% |
| Plant, machinery and equipment23 | - | - | - | €0.09m | €0.08m | ▼ 6.2% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.03m | ▲ 20.2% |
| Current assets29/58 | €2.6m | €2.4m | €3.1m | €2.2m | €2.6m | ▲ 17.2% |
| Stocks and contracts in progress3 | €0.05m | €0.06m | €0.05m | €0.1m | €0.5m | ▲ 287% |
| Stocks30/36 | - | - | - | €0.1m | €0.4m | ▲ 194% |
| Contracts in progress37 | - | - | - | - | €0.1m | - |
| Amounts receivable within one year40/41 | €0.9m | €0.3m | €0.8m | €1.0m | €1.4m | ▲ 42.1% |
| Trade receivables40 | - | - | - | €0.9m | €1.3m | ▲ 43.3% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.04m | ▲ 8.5% |
| Cash at bank and in hand54/58 | €1.7m | €2.1m | €2.2m | €1.1m | €0.7m | ▼ 36.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.01m | ▼ 57.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €2.5m | €3.2m | €2.3m | €2.7m | ▲ 16.3% |
| Equity10/15 | €1.8m | €1.9m | €2.4m | €1.5m | €1.7m | ▲ 12.0% |
| Contributions10/11 | €0.07m | - | - | €0.07m | €0.07m | = |
| Reserves13 | €1.6m | €1.6m | €1.7m | €0.7m | €0.5m | ▼ 23.7% |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | = |
| Reserves not available under the articles1311 | - | - | - | €0.007m | €0.007m | = |
| Tax-exempt reserves132 | - | - | - | €0.4m | €0.3m | ▼ 37.9% |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.5m | €0.8m | €1.1m | ▲ 44.8% |
| Amounts payable17/49 | €0.9m | €0.6m | €0.8m | €0.8m | €1.0m | ▲ 24.4% |
| Amounts payable after more than one year17 | €0.03m | €0.02m | €0.08m | €0.06m | €0.05m | ▼ 21.5% |
| Financial debts170/4 | - | - | - | €0.06m | €0.05m | ▼ 21.5% |
| Amounts payable within one year42/48 | €0.9m | €0.5m | €0.6m | €0.7m | €0.9m | ▲ 30.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.01m | ▼ 33.3% |
| Trade debts44 | €0.6m | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 8.4% |
| Suppliers440/4 | - | - | - | €0.4m | €0.4m | ▲ 8.4% |
| Advances received on contracts in progress46 | - | - | - | - | €0.2m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | ▼ 8.9% |
| Taxes450/3 | - | - | - | €0.02m | €0.09m | ▲ 273% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.2m | ▼ 33.7% |
| Other amounts payable47/48 | - | - | - | - | €0.03m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.02m | €0.003m | ▼ 82.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.2m | €0.5m | €0.2m | €0.2m | ▼ 4.5% |
| + Depreciation and write-downs630 | €0.04m | €0.04m | €0.03m | €0.03m | €0.03m | ▲ 2.9% |
| Operating cash flow (approximation) | €0.4m | €0.3m | €0.5m | €0.2m | €0.2m | ▼ 3.7% |
| Investment in fixed assets (approximation) | - | -€0.03m | -€0.1m | -€0.02m | -€0.03m | ▼ 50.6% |
| Change in cash | - | €0.4m | €0.1m | -€1.1m | -€0.4m | ▲ 65.7% |
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 |
|---|---|---|---|
| 30-09-2023 | abbreviated format | 22-02-2024 | 2024-00034340 |
| 30-09-2022 | abbreviated format | 30-04-2023 | 2023-00073311 |
| 30-09-2021 | abbreviated format | 15-02-2022 | 2022-05700191 |
| 30-09-2020 | abbreviated format | 01-02-2021 | 2021-03700577 |
| 30-09-2019 | abbreviated format | 30-01-2020 | 2020-03800057 |
| 30-09-2018 | abbreviated format | 01-03-2019 | 2019-06500289 |
| 30-09-2017 | abbreviated format | 07-03-2018 | 2018-06400411 |
| 30-09-2016 | abbreviated format | 09-03-2017 | 2017-06000255 |
| 30-09-2015 | abbreviated format | 29-02-2016 | 2016-05300072 |
| 30-09-2014 | abbreviated format | 02-03-2015 | 2015-05300220 |
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €2,658 awarded · €3,213 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €1,653 | €2,208 |
| 2022 | 1 | €1,005 | €1,005 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.