ERFO
Dissolved and wound upFinancials · financial year 2021, micro format
Annual accounts 2021 filed on 11-07-2022 PDF all 11 filings
Turnover
≈ €130,000
Estimated: probably between €76,000 and €230,000
Total assets
€360,111▲ 55.3%
2020 · €231,868
Net result
€137,680▲ 40×
2020 · €3,420
Working capital
€312,886▲ 330%
2020 · €72,802
Multi-year overview
2019 to 2021, 3 financial yearsOperating result
€200,296
2021
20192021
Net result
€137,680
▲ 40×
2021
20192021
Equity
€306,588
▲ 81.5%
2021
20192021
Total assets
€360,111
▲ 55.3%
2021
20192021
Debt
€53,523
▼ 15.0%
2021
20192021
Working capital
€312,886
▲ 330%
2021
20192021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021
Operating result€234,035--€4,473€200,296
Net result€160,639-€3,420▼ 97.9%€137,680▲ 40×
Equity€165,488-€168,909▲ 2.1%€306,588▲ 81.5%
Total assets€236,274-€231,868▼ 1.9%€360,111▲ 55.3%
Debt€70,786-€62,959▼ 11.1%€53,523▼ 15.0%
Working capital€65,378-€72,802▲ 11.4%€312,886▲ 330%
The operating result for 2021 is a profit of €200,296, after a loss of €4,473 in 2020.
Large changes and their cause
- 2020 Net result -98% on 2019. The previous financial year ran 18 months, this one 12.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €360,111
Fixed assets
€302 ▼ 99.7%
Current assets
€359,809 ▲ 165%
Equity and liabilities €360,111
Equity
€306,588 ▲ 81.5%
Debt
€53,523 ▼ 15.0%
Debt's share of the balance-sheet total falls from 27.2% to 14.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€200,900▲
2020 · -€469
Cash flow
€138,284▲
2020 · €7,424
Current ratio
7.67▲
2020 · 2.16
Debt to equity
0.17
ROE
44.9%▲
2020 · 2.0%
ROA
38.2%▲
2020 · 1.5%
Interest coverage
over 100
Debt ≤ 1 year
€46,923▼
2020 · €62,959
Income taxes
€67,562▲
2020 · -€2,430
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,006 | €4,004 | €604 | ▼ 84.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€171,646 | - |
| Other operating charges640/8 | - | - | €2,204 | - |
| Gross operating margin9900 | €369,878 | -€15,526 | €31,458 | - |
| Operating profit (loss)9901 | €234,035 | -€4,473 | €200,296 | - |
| Financial income75/76B | - | - | €5,435 | - |
| Recurring financial income75 | €3,099 | €6,295 | €5,435 | ▼ 13.7% |
| Financial charges65/66B | - | - | €488 | - |
| Recurring financial charges65 | €13,546 | €831 | €488 | ▼ 41.2% |
| Profit (loss) for the period before taxes9903 | €223,587 | €990 | €205,242 | ▲ 207× |
| Income taxes67/77 | €62,949 | -€2,430 | €67,562 | - |
| Profit (loss) for the period9904 | €160,639 | €3,420 | €137,680 | ▲ 40× |
| Profit (loss) for the period to be appropriated9905 | €160,639 | €3,420 | €137,680 | ▲ 40× |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €236,274 | €231,868 | €360,111 | ▲ 55.3% |
| Fixed assets21/28 | €100,110 | €96,106 | €302 | ▼ 99.7% |
| Tangible fixed assets22/27 | €100,110 | €96,106 | €302 | ▼ 99.7% |
| Land and buildings22 | - | - | €0 | - |
| Furniture and vehicles24 | - | - | €302 | - |
| Current assets29/58 | €136,164 | €135,761 | €359,809 | ▲ 165% |
| Amounts receivable after more than one year29 | - | - | €183,621 | - |
| Other amounts receivable291 | - | - | €183,621 | - |
| Amounts receivable within one year40/41 | €1,514 | €1,521 | €61,229 | ▲ 40× |
| Trade receivables40 | - | - | €60,946 | - |
| Other amounts receivable41 | - | - | €282 | - |
| Cash at bank and in hand54/58 | - | - | €114,960 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €236,274 | €231,868 | €360,111 | ▲ 55.3% |
| Equity10/15 | €165,488 | €168,909 | €306,588 | ▲ 81.5% |
| Contributions10/11 | €60,000 | - | €60,000 | - |
| Reserves13 | €105,488 | €108,909 | €246,588 | ▲ 126% |
| Non-distributable reserves130/1 | - | - | €6,000 | - |
| Reserves not available under the articles1311 | - | - | €6,000 | - |
| Distributable reserves133 | - | - | €240,588 | - |
| Profit (loss) carried forward14 | €0 | - | - | - |
| Amounts payable17/49 | €70,786 | €62,959 | €53,523 | ▼ 15.0% |
| Amounts payable after more than one year17 | €0 | - | - | - |
| Amounts payable within one year42/48 | €70,786 | €62,959 | €46,923 | ▼ 25.5% |
| Financial debts43 | - | - | €0 | - |
| Credit institutions430/8 | - | - | €0 | - |
| Trade debts44 | €2,705 | €459 | €309 | ▼ 32.8% |
| Suppliers440/4 | - | - | €309 | - |
| Taxes, remuneration and social security45 | - | - | €46,614 | - |
| Taxes450/3 | - | - | €46,614 | - |
| Accrued charges and deferred income492/3 | - | - | €6,600 | - |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €160,639 | €3,420 | €137,680 | ▲ 40× |
| + Depreciation and write-downs630 | €6,006 | €4,004 | €604 | ▼ 84.9% |
| Operating cash flow (approximation) | €166,645 | €7,424 | €138,284 | ▲ 19× |
| Investment in fixed assets (approximation) | - | €0 | €95,200 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | micro format | 11-07-2022 | 2022-20169390 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-42400159 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-47600437 | |
| 30-06-2018 | micro format | 28-11-2018 | 2018-72900323 | |
| 30-06-2017 | micro format | 20-12-2017 | 2017-72200387 | |
| 30-06-2016 | abbreviated format | 18-11-2016 | 2016-68000096 | |
| 30-06-2015 | abbreviated format | 05-01-2016 | 2016-00600200 | |
| 30-06-2014 | abbreviated format | 06-01-2015 | 2015-00500278 | |
| 30-06-2013 | abbreviated format | 20-12-2013 | 2013-69600103 | |
| 30-06-2012 | abbreviated format | 19-12-2012 | 2012-67200244 |