ECS TECHNICS
InactiveFinancials · financial year 2011, full format
Annual accounts 2011 filed on 20-07-2012 PDF all 7 filings
Turnover
€29.9m▼ 9.4%
2010 · €33.0m
EBIT margin
2.0%▼ 0.1pp
2010 · 2.1%
Net result
€151,974▼ 51.4%
2010 · €312,804
Working capital
€2.2m▲ 16.5%
2010 · €1.9m
Multi-year overview
2008 to 2011, 4 financial yearsTurnover
€29.9m
▼ 9.4%
2011
20082011
Operating result
€589,851
▼ 13.1%
2011
20082011
Net result
€151,974
▼ 51.4%
2011
20082011
EBIT margin
2.0%
▼ 0.1pp
2011
20082011
Equity
€3.3m
▲ 4.8%
2011
20082011
Total assets
€18.2m
▲ 20.3%
2011
20082011
Debt
€14.9m
▲ 24.0%
2011
20082011
Working capital
€2.2m
▲ 16.5%
2011
20082011
Staff (FTE)
120.2
▲ 5.3%
2011
20082011
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2008200920102011
Turnover€18.4m-€36.2m▲ 96.9%€33.0m▼ 8.9%€29.9m▼ 9.4%
Operating result€0.4m-€0.8m▲ 102%€0.7m▼ 15.1%€0.6m▼ 13.1%
Net result€0.1m-€0.2m▲ 56.2%€0.3m▲ 41.6%€0.2m▼ 51.4%
EBIT margin2.2%-2.2%▲ 0.1pp2.1%▼ 0.2pp2.0%▼ 0.1pp
Equity€1.9m-€3.0m▲ 60.4%€3.2m▲ 4.6%€3.3m▲ 4.8%
Total assets€10.8m-€19.3m▲ 79.0%€15.2m▼ 21.4%€18.2m▲ 20.3%
Debt€8.9m-€16.3m▲ 83.0%€12.0m▼ 26.2%€14.9m▲ 24.0%
Working capital€1.6m-€2.1m▲ 34.3%€1.9m▼ 11.7%€2.2m▲ 16.5%
Staff (FTE)117.2-115.8▼ 1.2%114.1▼ 1.5%120.2▲ 5.3%
The operating result for 2011 is 13% lower than in 2010 and the lowest since 2008. It is the second fall in a row.
Balance-sheet composition
2011 in colour, 2010 as the grey bar beneath
Assets €18.2m
Fixed assets
€1.5m ▼ 16.5%
Current assets
€16.8m ▲ 25.2%
Equity and liabilities €18.2m
Equity
€3.3m ▲ 4.8%
Provisions
€40,000
Debt
€14.9m ▲ 24.0%
Debt's share of the balance-sheet total rises from 79.2% to 81.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.1m▼
2010 · €1.2m
Cash flow
€706,837▼
2010 · €829,351
Current ratio
1.15▼
2010 · 1.16
Quick ratio
1.13▼
2010 · 1.15
Debt to equity
0.07▼
2010 · 0.15
ROE
4.6%▼
2010 · 9.9%
ROA
0.8%▼
2010 · 2.1%
Interest coverage
3.23▼
2010 · 3.69
Debt ≤ 1 year
€14.6m▲
2010 · €11.5m
Debt > 1 year
€246,510▼
2010 · €459,589
Income taxes
€162,753▼
2010 · €170,000
Customer credit
193 days▲
2010 · 143 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2008 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|
| Turnover70 | €18.4m | €36.2m | €33.0m | €29.9m | ▼ 9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 7.4% |
| Operating profit (loss)9901 | €0.4m | €0.8m | €0.7m | €0.6m | ▼ 13.1% |
| Recurring financial income75 | €0.05m | €0.4m | €0.2m | €0.1m | ▼ 55.2% |
| Recurring financial charges65 | €0.2m | €0.8m | €0.5m | €0.4m | ▼ 20.9% |
| Debt charges650 | €0.2m | €0.5m | €0.3m | €0.4m | ▲ 9.4% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.4m | €0.5m | €0.3m | ▼ 34.8% |
| Income taxes67/77 | €0.09m | €0.2m | €0.2m | €0.2m | ▼ 4.3% |
| Profit (loss) for the period9904 | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 51.4% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 51.4% |
| Line | 2008 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €10.8m | €19.3m | €15.2m | €18.2m | ▲ 20.3% |
| Fixed assets21/28 | €1.0m | €1.8m | €1.8m | €1.5m | ▼ 16.5% |
| Intangible fixed assets21 | €0.03m | €0.02m | €0.007m | €0.001m | ▼ 85.3% |
| Tangible fixed assets22/27 | €0.9m | €1.8m | €1.8m | €1.5m | ▼ 16.2% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | ▲ 2.0% |
| Current assets29/58 | €9.8m | €17.5m | €13.4m | €16.8m | ▲ 25.2% |
| Stocks and contracts in progress3 | €0.04m | €0.1m | €0.2m | €0.3m | ▲ 24.9% |
| Amounts receivable within one year40/41 | €8.5m | €14.9m | €12.9m | €15.8m | ▲ 22.6% |
| Cash at bank and in hand54/58 | €0.001m | €0.3m | €0.05m | €0.1m | ▲ 167% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €10.8m | €19.3m | €15.2m | €18.2m | ▲ 20.3% |
| Equity10/15 | €1.9m | €3.0m | €3.2m | €3.3m | ▲ 4.8% |
| Contributions10/11 | €1.6m | €2.6m | €2.6m | €2.6m | = |
| Reserves13 | €0.2m | €0.4m | €0.5m | €0.7m | ▲ 29.2% |
| Provisions and deferred taxes16 | - | - | - | €0.04m | - |
| Amounts payable17/49 | €8.9m | €16.3m | €12.0m | €14.9m | ▲ 24.0% |
| Amounts payable after more than one year17 | €0.5m | €0.8m | €0.5m | €0.2m | ▼ 46.4% |
| Amounts payable within one year42/48 | €8.2m | €15.3m | €11.5m | €14.6m | ▲ 26.6% |
| Trade debts44 | €3.0m | €10.3m | €5.6m | €7.9m | ▲ 40.9% |
| Line | 2008 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 51.4% |
| + Depreciation and write-downs630 | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 7.4% |
| Operating cash flow (approximation) | €0.4m | €0.6m | €0.8m | €0.7m | ▼ 14.8% |
| Investment in fixed assets (approximation) | - | -€1.2m | -€0.5m | -€0.3m | ▲ 48.1% |
| Change in cash | - | €0.3m | -€0.3m | €0.08m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2011 | full format | 20-07-2012 | 2012-33700207 | |
| 31-12-2010 | full format | 25-07-2011 | 2011-33300493 | |
| 31-12-2009 | full format | 27-07-2010 | 2010-35400557 | |
| 31-12-2008 | full format | 01-07-2009 | 2009-34400179 | |
| 31-12-2007 | full format | 29-07-2008 | 2008-46600269 | |
| 31-12-2006 | full format | 02-08-2007 | 2007-52500094 | |
| 31-12-2005 | full format | 30-06-2006 | 2006-35300074 |