FDW PROJECTS

Inactive KBO/BCE: BE 0891.833.638

FDW PROJECTS

Financial year 2017

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Annual accounts 2017

abbreviated format, filed on 02-07-2018, 29 days before the deadline

Gross margin

€103,027

▲ 53.5%

Operating result

€94,901

▲ 54.5%

Profit

€55,158

▲ 59.3%

Working capital

€282,883

▲ 110%

Solvency

66.9%

▲ 3.2 percentage points

Current ratio

6.30

▲ 1.07

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €260,000. Estimated: probably between €160,000 and €490,000.

Balance sheet

balance sheet total €387,365 on 31-12-2017

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Balance sheet: assets
Total assets`20/58`	387,365	320,393	289,286	282,617	316,329	237,520	90,243	103,480	103,099	102,367
Fixed assets`21/28`	51,131	153,993	208,372	212,288	216,925	221,563	71,409	79,282	75,250	93,227
Tangible fixed assets`22/27`	51,131	49,066	103,444	107,360	111,997	116,635	71,409	79,282	75,250	93,227
Land and buildings`22`	44,848	48,585	102,723	107,360	111,997	116,635	71,409	79,282	-	91,727
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	250	583
Furniture and vehicles`24`	6,283	481	722	-	-	-	-	-	-	917
Assets under construction and advance payments`27`	-	-	-	-	-	-	-	-	75,000	-
Financial fixed assets`28`	0	104,927	104,928	104,928	104,928	104,928	-	-	-	-
Current assets`29/58`	336,233	166,400	80,914	70,329	99,404	15,957	18,834	24,198	27,849	9,141
Amounts receivable within one year`40/41`	340	27,103	2,479	24,305	8,531	8,736	-	5,415	6,100	5,880
Trade receivables`40`	-	24,200	-	24,200	8,531	8,736	-	5,415	6,100	5,880
Other amounts receivable`41`	340	2,903	2,479	105	-	-	-	-	-	-
Cash at bank and in hand`54/58`	335,894	139,297	77,510	45,091	90,566	6,221	17,634	18,783	21,749	2,511
Deferred charges and accrued income`490/1`	-	-	925	933	308	1,000	1,200	-	-	750
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	387,365	320,393	289,286	282,617	316,329	237,520	90,243	103,480	103,099	102,367
Equity`10/15`	259,170	204,012	169,376	128,601	89,610	5,710	19,384	20,733	18,941	15,607
Contributions`10/11`	93,000	93,000	93,000	93,000	93,000	18,600	18,600	18,600	18,600	18,600
Issued capital`100`	93,000	93,000	93,000	93,000	93,000	18,600	18,600	18,600	18,600	18,600
Reserves`13`	165,300	110,300	76,300	9,300	207	2,133	2,133	2,133	341	-
Legal reserve`130`	9,300	9,300	9,300	9,300	207	207	207	207	17	-
Distributable reserves`133`	156,000	101,000	67,000	-	-	1,927	1,927	1,927	324	-
Profit (loss) carried forward`14`	870	712	76	26,301	-3,596	-15,023	-1,350	-	-	-2,993
Amounts payable`17/49`	128,195	116,382	119,910	154,016	226,719	231,810	70,860	82,746	84,158	86,760
Amounts payable after more than one year`17`	70,445	75,778	81,112	129,445	218,378	223,711	64,045	69,378	74,711	80,045
Financial debts`170/4`	70,445	75,778	81,112	129,445	218,378	223,711	64,045	69,378	74,711	80,045
Amounts payable within one year`42/48`	53,350	31,803	35,587	12,674	7,446	7,340	6,815	11,772	8,278	5,842
Current portion of amounts payable after more than one year`42`	5,333	5,333	5,333	5,333	5,333	5,333	5,333	5,778	5,778	5,333
Trade debts`44`	540	649	215	-	-	-	-	-	-	-
Suppliers`440/4`	540	649	215	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	44,869	23,215	29,953	7,341	2,113	2,007	1,482	2,994	2,500	509
Taxes`450/3`	44,869	23,215	29,953	7,341	2,113	2,007	1,482	988	494	509
Remuneration and social security`454/9`	-	-	-	-	-	-	-	2,006	2,006	-
Other amounts payable`47/48`	2,608	2,607	85	-	-	-	-	3,000	-	-
Accrued charges and deferred income`492/3`	4,400	8,800	3,212	11,897	895	758	-	1,597	1,169	873
Income statement
Non-recurring operating income`76A`	-	2,100	-	-	-	-	-	-	-	-
Gross operating margin`9900`	103,027	67,118	92,880	54,853	21,360	13,239	12,825	17,180	8,788	23,374
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	5,992	3,978	4,878	4,637	4,637	17,322	7,873	8,123	333	19,442
Other operating charges`640/8`	2,133	1,710	1,388	663	871	804	437	437	913	853
Operating profit (loss)`9901`	94,901	61,430	86,615	49,553	15,852	-4,887	4,515	8,621	7,542	3,079
Financial income`75/76B`	31	62	14	36	22	15	186	152	487	176
Recurring financial income`75`	31	62	14	36	22	15	186	152	487	176
Financial charges`65/66B`	5,850	6,572	7,039	10,589	6,368	5,608	4,123	4,381	4,647	6,221
Recurring financial charges`65`	5,850	6,572	7,039	10,589	6,368	5,608	4,123	4,381	4,647	6,221
Profit (loss) for the period before taxes`9903`	89,082	54,920	79,589	38,999	9,506	-10,481	579	4,392	3,382	-2,966
Income taxes`67/77`	33,924	20,284	38,815	9	5	3,193	1,928	600	49	26
Profit (loss) for the period`9904`	55,158	34,636	40,775	38,990	9,500	-13,674	-1,350	3,792	3,333	-2,993
Profit (loss) for the period to be appropriated`9905`	55,158	34,636	40,775	38,990	9,500	-13,674	-1,350	3,792	3,333	-2,993
Appropriation of the result
Profit (loss) to be appropriated`9906`	55,870	34,712	67,076	35,394	-5,523	-15,023	-1,350	3,792	341	-2,993
Transfer from equity`791/2`	-	-	-	-	1,927	-	-	-	-	-
Transfer to equity`691/2`	55,000	34,000	67,000	9,093	-	-	-	1,792	341	-
To the legal reserve`6920`	-	-	-	9,093	-	-	-	190	17	-
To other reserves`6921`	55,000	34,000	67,000	-	-	-	-	1,603	324	-
Profit to be distributed`694/7`	-	-	-	-	-	-	-	2,000	-	-
Return on contributions (dividend)`694`	-	-	-	-	-	-	-	2,000	-	-
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Source: Annual accounts 2017 (PDF), filed on 02-07-2018.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2017	abbreviated format	02-07-2018	2018-27900085	PDF
31-12-2016	micro format	24-08-2017	2017-47400550	PDF
31-12-2015	abbreviated format	30-08-2016	2016-53100574	PDF
31-12-2014	abbreviated format	28-08-2015	2015-53200184	PDF
31-12-2013	abbreviated format	12-07-2014	2014-30900549	PDF
31-12-2012	abbreviated format	09-06-2013	2013-15800553	PDF
31-12-2011	abbreviated format	03-06-2012	2012-14700085	PDF
31-12-2010	abbreviated format	02-06-2011	2011-13900134	PDF
31-12-2009	abbreviated format	24-06-2010	2010-20600365	PDF
31-12-2008	abbreviated format	20-06-2009	2009-29000385	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
EBITDA	100,893	65,408	91,493	54,190	20,490	12,435	12,388	16,744	7,875	22,520
Cash flow	61,150	38,614	45,653	43,628	14,138	3,649	6,523	11,915	3,667	16,449
Investment in fixed assets (approximation)	8,057	-50,401	962	0	0	167,476	0	12,155	75,000	112,668
Change in cash	196,597	61,788	32,419	-45,475	84,344	-11,413	-1,149	-2,966	19,238	-
Working capital	282,883	134,597	45,327	57,655	91,958	8,617	12,019	12,426	19,571	3,298
Solvency	66.9%	63.7%	58.5%	45.5%	28.3%	2.4%	21.5%	20.0%	18.4%	15.2%
Current ratio	6.30	5.23	2.27	5.55	13.35	2.17	2.76	2.06	3.36	1.56
Debt to equity	0.49	0.57	0.71	1.20	2.53	40.60	3.66	3.99	4.44	5.56
ROE	21.3%	17.0%	24.1%	30.3%	10.6%	-239.5%	-7.0%	18.3%	17.6%	-19.2%
ROA	14.2%	10.8%	14.1%	13.8%	3.0%	-5.8%	-1.5%	3.7%	3.2%	-2.9%

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on FDW PROJECTS

The operating result for 2017 is 54% higher than in 2016 and the highest since 2008. It is a recovery after the fall in 2016.

Debt's share of the balance-sheet total falls from 36.3% to 33.1%. Equity and debt are higher.