Flexforce
Open bankruptcyFinancials · financial year 2023, micro format
2023 annual accounts filed 68 days after the deadline Filed on 7 October 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00495521.
Annual accounts 2023 filed on 07-10-2024 PDF all 5 filings
Equity
€45,150▼ 35.8%
2021 · €70,298
Total assets
€55,782▼ 45.4%
2021 · €102,241
Net result
-€1,260
2021 · €7,102
Working capital
€44,683▼ 27.9%
2021 · €61,943
Multi-year overview
2018 to 2023, 5 financial yearsOperating result
-€2,632
2023
20182023
Net result
-€1,260
2023
lowest quarter of the sector
20182023
Equity
€45,150
2023
middle half of the sector
20182023
Total assets
€55,782
2023
lowest quarter of the sector
20182023
Debt
€10,632
2023
20182023
Working capital
€44,683
2023
middle half of the sector
20182023
Solvency
80.9%
2023
highest quarter of the sector
20182023
Current ratio
5.20
2023
highest quarter of the sector
20182023
Return on assets (ROA)
-2.3%
2023
lowest quarter of the sector
20182023
Staff (FTE)
no figure
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212023
Operating result€19,303-€89,925▲ 366%-€9,801€6,219-€2,632-
Net result€15,526-€69,945▲ 350%-€28,475below the sector's middle half€7,102within the sector's middle half-€1,260below the sector's middle half-
Equity€21,726-€91,671▲ 322%€63,196within the sector's middle half▼ 31.1%€70,298within the sector's middle half▲ 11.2%€45,150within the sector's middle half-
Total assets€41,094-€223,598▲ 444%€117,917within the sector's middle half▼ 47.3%€102,241within the sector's middle half▼ 13.3%€55,782below the sector's middle half-
Debt€19,368-€131,926▲ 581%€54,721▼ 58.5%€31,943▼ 41.6%€10,632-
Working capital€16,512-€54,877▲ 232%€53,077within the sector's middle half▼ 3.3%€61,943within the sector's middle half▲ 16.7%€44,683within the sector's middle half-
Solvency52.9%-41.0%▼ 11.9pp53.6%within the sector's middle half▲ 12.6pp68.8%above the sector's middle half▲ 15.2pp80.9%above the sector's middle half-
Current ratio1.85-1.49▼ 0.362.30within the sector's middle half▲ 0.813.56above the sector's middle half▲ 1.265.20above the sector's middle half-
Return on assets (ROA)37.8%-31.3%▼ 6.5pp-24.1%below the sector's middle half▼ 55.4pp6.9%within the sector's middle half▲ 31.1pp-2.3%below the sector's middle half-
Staff (FTE)34.2above the sector's middle half▲ 40.0%3.6▼ 14.3%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 2023 is a loss of €2,632, against €6,219 in 2021. Comparable figures for the intervening years are unavailable.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2023 in colour, 2021 as the grey bar beneath
Assets €55,782
Fixed assets
€467 ▼ 97.1%
Current assets
€55,316 ▼ 35.8%
Equity and liabilities €55,782
Equity
€45,150 ▼ 35.8%
Debt
€10,632 ▼ 66.7%
Debt's share of the balance-sheet total falls from 31.2% to 19.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€2,072▼
2021 · €13,416
Cash flow
-€700▼
2021 · €14,299
Debt to equity
0.24▼
2021 · 0.45
ROE
-2.8%▼
2021 · 10.1%
Interest coverage
-12.82▼
2021 · 23.08
Debt ≤ 1 year
€10,632▼
2021 · €24,174
Income taxes
€0=
2021 · €0
Staff costs
€1,063▼
2021 · €37,816
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 2 |
| part-time | 1 |
| in full-time equivalents | 2.8 |
| Average over the year, in full-time equivalents | 3.6 |
| On a permanent contract | 3 |
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2021 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €973 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €37,816 | €1,063 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €373 | €5,512 | €7,755 | €7,197 | €560 | - |
| Other operating charges640/8 | - | - | - | €1,846 | €946 | - |
| Non-recurring operating charges66A | - | - | - | €372 | €0 | - |
| Gross operating margin9900 | €20,024 | €215,759 | €63,232 | €53,451 | -€63 | - |
| Operating profit (loss)9901 | €19,303 | €89,925 | -€9,801 | €6,219 | -€2,632 | - |
| Financial income75/76B | - | - | - | €1,464 | €1,534 | - |
| Recurring financial income75 | - | €730 | €1,523 | €1,464 | €1,534 | - |
| Financial charges65/66B | - | - | - | €581 | €162 | - |
| Recurring financial charges65 | €13 | €301 | €25,301 | €581 | €162 | - |
| Profit (loss) for the period before taxes9903 | €19,291 | €90,355 | -€33,578 | €7,102 | -€1,260 | - |
| Income taxes67/77 | €3,764 | €20,410 | -€5,103 | €0 | €0 | - |
| Profit (loss) for the period9904 | €15,526 | €69,945 | -€28,475 | €7,102 | -€1,260 | - |
| Profit (loss) for the period to be appropriated9905 | €15,526 | €69,945 | -€28,475 | €7,102 | -€1,260 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €41,094 | €223,598 | €117,917 | €102,241 | €55,782 | - |
| Fixed assets21/28 | €5,227 | €56,774 | €24,019 | €16,124 | €467 | - |
| Intangible fixed assets21 | €5,227 | €4,387 | €3,267 | €2,147 | €467 | - |
| Tangible fixed assets22/27 | - | €27,387 | €20,752 | €13,978 | - | - |
| Furniture and vehicles24 | - | - | - | €13,978 | - | - |
| Financial fixed assets28 | - | €25,000 | €0 | - | - | - |
| Current assets29/58 | €35,868 | €166,824 | €93,898 | €86,117 | €55,316 | - |
| Amounts receivable after more than one year29 | - | - | - | €0 | - | - |
| Other amounts receivable291 | - | - | - | €0 | - | - |
| Stocks and contracts in progress3 | - | €38,546 | €6,318 | €0 | - | - |
| Contracts in progress37 | - | - | - | €0 | - | - |
| Amounts receivable within one year40/41 | €5,686 | €101,043 | €42,630 | €82,480 | €53,858 | - |
| Trade receivables40 | - | - | - | €24,834 | €9,145 | - |
| Other amounts receivable41 | - | - | - | €57,646 | €44,714 | - |
| Cash at bank and in hand54/58 | €29,602 | €25,641 | €33,072 | €2,460 | €103 | - |
| Deferred charges and accrued income490/1 | - | - | - | €1,178 | €1,354 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €41,094 | €223,598 | €117,917 | €102,241 | €55,782 | - |
| Equity10/15 | €21,726 | €91,671 | €63,196 | €70,298 | €45,150 | - |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - |
| Profit (loss) carried forward14 | €13,666 | €83,611 | €55,136 | €62,238 | €37,090 | - |
| Amounts payable17/49 | €19,368 | €131,926 | €54,721 | €31,943 | €10,632 | - |
| Amounts payable after more than one year17 | - | €19,953 | €13,895 | €7,765 | - | - |
| Financial debts170/4 | - | - | - | €7,765 | - | - |
| Amounts payable within one year42/48 | €19,355 | €111,947 | €40,821 | €24,174 | €10,632 | - |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,130 | - | - |
| Trade debts44 | €10,601 | €74,024 | €13,699 | €7,568 | €8,719 | - |
| Suppliers440/4 | - | - | - | €7,568 | €8,719 | - |
| Taxes, remuneration and social security45 | - | - | - | €10,387 | €1,824 | - |
| Taxes450/3 | - | - | - | €5,944 | €1,824 | - |
| Remuneration and social security454/9 | - | - | - | €4,443 | - | - |
| Other amounts payable47/48 | - | - | - | €89 | €90 | - |
| Accrued charges and deferred income492/3 | - | - | - | €4 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,526 | €69,945 | -€28,475 | €7,102 | -€1,260 | - |
| + Depreciation and write-downs630 | €373 | €5,512 | €7,755 | €7,197 | €560 | - |
| Operating cash flow (approximation) | €15,900 | €75,457 | -€20,720 | €14,299 | -€700 | - |
| Investment in fixed assets (approximation) | - | -€57,059 | €25,000 | €697 | - | - |
| Change in cash | - | -€3,962 | €7,432 | -€30,613 | - | - |
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 |
|---|---|---|---|---|
| 31-12-2023 | micro format | 07-10-2024 | 2024-00495521 | |
| 31-12-2021 | micro format | 26-07-2022 | 2022-20221140 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-41600576 | |
| 31-12-2019 | micro format | 06-10-2020 | 2020-58900026 | |
| 31-12-2018 | micro format | 22-07-2019 | 2019-35200209 |