EMSV PROJECTS
Bankruptcy closedFinancials · financial year 2023, micro format
Annual accounts 2023 filed on 04-06-2024 PDF all 10 filings
Turnover
€385,609▲ 713%
2021 · €47,439
EBIT margin
1.3%▼ 24.4pp
2021 · 25.8%
Net result
-€440
2022 · €2,042
Working capital
€8,643▼ 4.8%
2022 · €9,083
Multi-year overview
2019 to 2023, 5 financial yearsTurnover
€385,609
2023
20192023
Operating result
€5,158
▼ 52.7%
2023
20192023
Net result
-€440
2023
20192023
EBIT margin
1.3%
2023
20192023
Equity
€8,643
▼ 4.8%
2023
20192023
Total assets
€57,604
▲ 76.3%
2023
20192023
Debt
€48,961
▲ 108%
2023
20192023
Working capital
€8,643
▼ 4.8%
2023
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Turnover€43,269-€39,888▼ 7.8%€47,439▲ 18.9%€385,609
Operating result€6,975-€15,401▲ 121%€12,216▼ 20.7%€10,908▼ 10.7%€5,158▼ 52.7%
Net result€6,272-€14,864▲ 137%€12,263▼ 17.5%€2,042▼ 83.3%-€440
EBIT margin16.1%-38.6%▲ 22.5pp25.8%▼ 12.9pp1.3%
Equity-€20,086--€5,222▲ 74.0%€7,041€9,083▲ 29.0%€8,643▼ 4.8%
Total assets€38,051-€51,177▲ 34.5%€78,461▲ 53.3%€32,668▼ 58.4%€57,604▲ 76.3%
Debt€58,137-€56,398▼ 3.0%€71,420▲ 26.6%€23,585▼ 67.0%€48,961▲ 108%
Working capital-€20,424--€5,387▲ 73.6%€7,041€9,083▲ 29.0%€8,643▼ 4.8%
The operating result for 2023 is 53% lower than in 2022 and the lowest since 2019. It is the third fall in a row.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Equity and liabilities €57,604
Equity
€8,643 ▼ 4.8%
Debt
€48,961 ▲ 108%
Debt's share of the balance-sheet total rises from 72.2% to 85.0%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.18▼
2022 · 1.39
Debt to equity
5.66▲
2022 · 2.60
ROE
-5.1%▼
2022 · 22.5%
ROA
-0.8%▼
2022 · 6.3%
Debt ≤ 1 year
€48,961▲
2022 · €23,585
Income taxes
€3,150▼
2022 · €8,708
Customer credit
27 days
Supplier credit
45 days
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €43,269 | €39,888 | €47,439 | - | €385,609 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €375,351 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,034 | €565 | €165 | - | - | - |
| Other operating charges640/8 | - | - | - | €797 | €5,100 | ▲ 540% |
| Gross operating margin9900 | €27,364 | €16,203 | €12,830 | €11,705 | €10,258 | ▼ 12.4% |
| Operating profit (loss)9901 | €6,975 | €15,401 | €12,216 | €10,908 | €5,158 | ▼ 52.7% |
| Recurring financial income75 | €4 | €0 | €94 | - | - | - |
| Financial charges65/66B | - | - | - | €158 | €2,448 | ▲ 16× |
| Recurring financial charges65 | €707 | €537 | €47 | €158 | €2,448 | ▲ 16× |
| Profit (loss) for the period before taxes9903 | €6,272 | €14,864 | €12,263 | €10,750 | €2,710 | ▼ 74.8% |
| Income taxes67/77 | - | - | - | €8,708 | €3,150 | ▼ 63.8% |
| Profit (loss) for the period9904 | €6,272 | €14,864 | €12,263 | €2,042 | -€440 | - |
| Profit (loss) for the period to be appropriated9905 | €6,272 | €14,864 | €12,263 | €2,042 | -€440 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €38,051 | €51,177 | €78,461 | €32,668 | €57,604 | ▲ 76.3% |
| Fixed assets21/28 | €339 | €165 | - | - | - | - |
| Tangible fixed assets22/27 | €339 | €165 | - | - | - | - |
| Current assets29/58 | €37,712 | €51,011 | €78,461 | €32,668 | €57,604 | ▲ 76.3% |
| Amounts receivable within one year40/41 | €6,285 | €21,014 | €20,849 | €15,837 | €37,936 | ▲ 140% |
| Trade receivables40 | - | - | - | €14,218 | €28,866 | ▲ 103% |
| Other amounts receivable41 | - | - | - | €1,618 | €9,070 | ▲ 460% |
| Cash at bank and in hand54/58 | €14,095 | €29,998 | €57,612 | €16,832 | €17,668 | ▲ 5.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €2,000 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €38,051 | €51,177 | €78,461 | €32,668 | €57,604 | ▲ 76.3% |
| Equity10/15 | -€20,086 | -€5,222 | €7,041 | €9,083 | €8,643 | ▼ 4.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - |
| Profit (loss) carried forward14 | -€38,686 | -€23,822 | -€11,559 | -€9,517 | -€9,957 | ▼ 4.6% |
| Amounts payable17/49 | €58,137 | €56,398 | €71,420 | €23,585 | €48,961 | ▲ 108% |
| Amounts payable within one year42/48 | €58,137 | €56,398 | €71,420 | €23,585 | €48,961 | ▲ 108% |
| Trade debts44 | €1,569 | €129 | €363 | €5,970 | €45,811 | ▲ 667% |
| Suppliers440/4 | - | - | - | €5,970 | €45,811 | ▲ 667% |
| Taxes, remuneration and social security45 | - | - | - | - | €3,150 | - |
| Taxes450/3 | - | - | - | - | €3,150 | - |
| Other amounts payable47/48 | - | - | - | €17,615 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,272 | €14,864 | €12,263 | €2,042 | -€440 | - |
| + Depreciation and write-downs630 | €4,034 | €565 | €165 | - | - | - |
| Operating cash flow (approximation) | €10,306 | €15,428 | €12,428 | €2,042 | -€440 | - |
| Investment in fixed assets (approximation) | - | -€391 | - | - | - | - |
| Change in cash | - | €15,902 | €27,614 | -€40,780 | €836 | - |
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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 04-06-2024 | 2024-00117128 | |
| 31-12-2022 | abbreviated format | 21-04-2023 | 2023-00062778 | |
| 30-06-2021 | abbreviated format | 23-09-2021 | 2021-68100196 | |
| 30-06-2020 | abbreviated format | 05-11-2020 | 2020-68800541 | |
| 30-06-2019 | abbreviated format | 09-12-2019 | 2019-75700293 | |
| 30-06-2018 | abbreviated format | 03-12-2018 | 2018-73500450 | |
| 30-06-2017 | abbreviated format | 22-01-2018 | 2018-02000528 | |
| 30-06-2016 | abbreviated format | 22-01-2018 | 2018-02000491 | |
| 30-06-2015 | abbreviated format | 29-01-2016 | 2016-03600068 | |
| 30-06-2014 | abbreviated format | 21-05-2015 | 2015-13000175 |