FINFLATE
Open bankruptcyFinancials · financial year 2024, micro format
Annual accounts 2024 filed on 09-07-2025 PDF all 5 filings
Turnover
≈ €100,000
Estimated: probably between €49,000 and €200,000
Total assets
€5,355▼ 27.6%
2023 · €7,392
Net result
€13,864
2023 · -€23,652
Working capital
-€40,186▼ 756%
2023 · -€4,696
Multi-year overview
2020 to 2024, 5 financial yearsOperating result
€14,467
2024
20202024
Net result
€13,864
2024
middle half of the sector
20202024
Equity
-€37,326
▲ 27.1%
2024
lowest quarter of the sector
20202024
Total assets
€5,355
▼ 27.6%
2024
lowest quarter of the sector
20202024
Debt
€42,681
▼ 27.1%
2024
20202024
Working capital
-€40,186
▼ 756%
2024
lowest quarter of the sector
20202024
Solvency
-697.0%
▼ 4.5pp
2024
lowest quarter of the sector
20202024
Current ratio
0.06
▼ 0.12
2024
lowest quarter of the sector
20202024
Return on assets (ROA)
258.9%
▲ 578.8pp
2024
highest quarter of the sector
20202024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20202021202220232024
Operating result€4,105--€12,972-€19,294▼ 48.7%-€23,087▼ 19.7%€14,467
Net result€3,125within the sector's middle half--€13,336below the sector's middle half-€20,326below the sector's middle half▼ 52.4%-€23,652below the sector's middle half▼ 16.4%€13,864within the sector's middle half
Equity€6,125below the sector's middle half--€7,211below the sector's middle half-€27,537below the sector's middle half▼ 282%-€51,190below the sector's middle half▼ 85.9%-€37,326below the sector's middle half▲ 27.1%
Total assets€9,900below the sector's middle half-€16,559below the sector's middle half▲ 67.3%€12,449below the sector's middle half▼ 24.8%€7,392below the sector's middle half▼ 40.6%€5,355below the sector's middle half▼ 27.6%
Debt€3,775-€23,770▲ 530%€39,986▲ 68.2%€58,582▲ 46.5%€42,681▼ 27.1%
Working capital€3,728within the sector's middle half--€2,766below the sector's middle half-€31,197below the sector's middle half▼ 1,028%-€4,696below the sector's middle half▲ 84.9%-€40,186below the sector's middle half▼ 756%
Solvency61.9%within the sector's middle half--43.5%below the sector's middle half▼ 105.4pp-221.2%below the sector's middle half▼ 177.7pp-692.5%below the sector's middle half▼ 471.3pp-697.0%below the sector's middle half▼ 4.5pp
Current ratio1.99within the sector's middle half-0.54below the sector's middle half▼ 1.450.06below the sector's middle half▼ 0.480.18below the sector's middle half▲ 0.120.06below the sector's middle half▼ 0.12
Return on assets (ROA)31.6%above the sector's middle half--80.5%below the sector's middle half▼ 112.1pp-163.3%below the sector's middle half▼ 82.7pp-320.0%below the sector's middle half▼ 156.7pp258.9%above the sector's middle half▲ 578.8pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a profit of €14,467, after a loss of €23,087 in 2023. It is the highest result since 2020.
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
2024 in colour, 2023 as the grey bar beneath
Assets €5,355
Fixed assets
€2,860 ▼ 55.0%
Current assets
€2,495 ▲ 139%
Equity and liabilities
Equity-€37,326
Debt€42,681
Equity is negative. Debt (€42,681) exceeds the balance-sheet total (€5,355).
Key figures and ratios
EBITDA
€14,603▲
2023 · -€19,138
Cash flow
€14,000▲
2023 · -€19,703
Interest coverage
25.78▲
2023 · -45.58
Debt ≤ 1 year
€42,681▲
2023 · €5,739
Debt > 1 year
€0▼
2023 · €52,458
Income taxes
€49▼
2023 · €146
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €11,834 | €951 | - | €2,846 |
| Depreciation and write-downs of the year | €924 | €3,960 | €3,949 | €136 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €113 | €924 | €3,960 | €3,949 | €136 | ▼ 96.6% |
| Other operating charges640/8 | - | €716 | €612 | €722 | €1,554 | ▲ 115% |
| Non-recurring operating charges66A | - | - | - | - | €5,729 | - |
| Gross operating margin9900 | €4,627 | -€11,331 | -€14,723 | -€18,415 | €21,886 | - |
| Operating profit (loss)9901 | €4,105 | -€12,972 | -€19,294 | -€23,087 | €14,467 | - |
| Financial income75/76B | - | €36 | €0 | €0 | €11 | ▲ 50× |
| Recurring financial income75 | - | €36 | €0 | €0 | €11 | ▲ 50× |
| Financial charges65/66B | - | €272 | €898 | €420 | €566 | ▲ 34.9% |
| Recurring financial charges65 | €19 | €272 | €898 | €420 | €566 | ▲ 34.9% |
| Profit (loss) for the period before taxes9903 | €4,086 | -€13,208 | -€20,192 | -€23,506 | €13,912 | - |
| Income taxes67/77 | €960 | €128 | €134 | €146 | €49 | ▼ 66.7% |
| Profit (loss) for the period9904 | €3,125 | -€13,336 | -€20,326 | -€23,652 | €13,864 | - |
| Profit (loss) for the period to be appropriated9905 | €3,125 | -€13,336 | -€20,326 | -€23,652 | €13,864 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9,900 | €16,559 | €12,449 | €7,392 | €5,355 | ▼ 27.6% |
| Fixed assets21/28 | €2,397 | €13,306 | €10,298 | €6,349 | €2,860 | ▼ 55.0% |
| Tangible fixed assets22/27 | €2,247 | €13,156 | €10,148 | €6,199 | €2,710 | ▼ 56.3% |
| Plant, machinery and equipment23 | - | €1,460 | €901 | €115 | €2,710 | ▲ 24× |
| Furniture and vehicles24 | - | €11,696 | €9,247 | €6,084 | €0 | ▼ 100% |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €7,503 | €3,252 | €2,151 | €1,043 | €2,495 | ▲ 139% |
| Amounts receivable within one year40/41 | €3,808 | €2,572 | €699 | €5 | €601 | ▲ 113× |
| Trade receivables40 | - | €1,305 | €0 | €5 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €1,266 | €699 | €0 | €601 | - |
| Cash at bank and in hand54/58 | €3,052 | €1 | €11 | €49 | €1,654 | ▲ 34× |
| Deferred charges and accrued income490/1 | - | €680 | €1,440 | €990 | €241 | ▼ 75.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9,900 | €16,559 | €12,449 | €7,392 | €5,355 | ▼ 27.6% |
| Equity10/15 | €6,125 | -€7,211 | -€27,537 | -€51,190 | -€37,326 | ▲ 27.1% |
| Contributions10/11 | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €3,125 | €3,125 | €3,125 | €3,125 | €3,125 | = |
| Distributable reserves133 | - | €3,125 | €3,125 | €3,125 | €3,125 | = |
| Profit (loss) carried forward14 | - | -€13,336 | -€33,663 | -€57,315 | -€43,451 | ▲ 24.2% |
| Amounts payable17/49 | €3,775 | €23,770 | €39,986 | €58,582 | €42,681 | ▼ 27.1% |
| Amounts payable after more than one year17 | - | €17,244 | €6,638 | €52,458 | €0 | ▼ 100% |
| Financial debts170/4 | - | €9,859 | €6,638 | €3,352 | €0 | ▼ 100% |
| Other amounts payable178/9 | - | €7,384 | €0 | €49,106 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €3,775 | €6,018 | €33,348 | €5,739 | €42,681 | ▲ 644% |
| Current portion of amounts payable after more than one year42 | - | €3,158 | €3,221 | €3,286 | €3,352 | ▲ 2.0% |
| Financial debts43 | - | €53 | €1,382 | €0 | €24 | - |
| Credit institutions430/8 | - | €53 | €1,382 | €0 | €24 | - |
| Trade debts44 | €775 | €1,627 | €1,059 | €2,173 | €2,376 | ▲ 9.4% |
| Suppliers440/4 | - | €1,627 | €1,059 | €2,173 | €2,376 | ▲ 9.4% |
| Taxes, remuneration and social security45 | - | €1,181 | €263 | €280 | €194 | ▼ 30.6% |
| Taxes450/3 | - | €1,181 | €263 | €280 | €194 | ▼ 30.6% |
| Other amounts payable47/48 | - | €0 | €27,423 | €0 | €36,735 | - |
| Accrued charges and deferred income492/3 | - | €508 | €0 | €384 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,125 | -€13,336 | -€20,326 | -€23,652 | €13,864 | - |
| + Depreciation and write-downs630 | €113 | €924 | €3,960 | €3,949 | €136 | ▼ 96.6% |
| Operating cash flow (approximation) | €3,238 | -€12,412 | -€16,366 | -€19,703 | €14,000 | - |
| Investment in fixed assets (approximation) | - | -€11,834 | -€951 | €0 | €3,353 | - |
| Change in cash | - | -€3,051 | €10 | €37 | €1,606 | ▲ 43× |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 09-07-2025 | 2025-00255594 | |
| 31-12-2023 | micro format | 18-07-2024 | 2024-00263886 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00168240 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20237662 | |
| 31-12-2020 | micro format | 22-06-2021 | 2021-23000015 |