FLIGHT-CASE
Open bankruptcyFinancials · financial year 2023, micro format
Annual accounts 2023 filed on 29-07-2024 PDF all 16 filings
Equity
-€49,274
2022 · €1,736
Total assets
€106,448▲ 31.7%
2022 · €80,845
Net result
-€51,010▼ 19.9%
2022 · -€42,541
Working capital
-€50,189
2022 · €218
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
-€45,222
▲ 30.5%
2023
20182023
Net result
-€51,010
▼ 19.9%
2023
lowest quarter of the sector
20182023
Equity
-€49,274
2023
lowest quarter of the sector
20182023
Total assets
€106,448
▲ 31.7%
2023
middle half of the sector
20182023
Debt
€155,722
▲ 96.8%
2023
20182023
Working capital
-€50,189
2023
lowest quarter of the sector
20182023
Solvency
-46.3%
▼ 48.4pp
2023
lowest quarter of the sector
20182023
Current ratio
0.68
▼ 0.33
2023
lowest quarter of the sector
20182023
Return on assets (ROA)
-47.9%
▲ 4.7pp
2023
lowest quarter of the sector
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€4,270-€9,406▲ 120%€17,360▲ 84.6%€11,529▼ 33.6%-€65,083-€45,222▲ 30.5%
Net result€1,187-€9,299▲ 683%€21,891within the sector's middle half▲ 135%€22,515within the sector's middle half▲ 2.9%-€42,541below the sector's middle half-€51,010below the sector's middle half▼ 19.9%
Equity-€7,829-€1,471€23,362within the sector's middle half▲ 16×€44,277within the sector's middle half▲ 89.5%€1,736below the sector's middle half▼ 96.1%-€49,274below the sector's middle half
Total assets€40,647-€64,772▲ 59.4%€104,639within the sector's middle half▲ 61.5%€222,456within the sector's middle half▲ 113%€80,845within the sector's middle half▼ 63.7%€106,448within the sector's middle half▲ 31.7%
Debt€48,475-€63,301▲ 30.6%€81,277▲ 28.4%€178,178▲ 119%€79,109▼ 55.6%€155,722▲ 96.8%
Working capital-€5,689-€4,015€22,952within the sector's middle half▲ 472%€42,156within the sector's middle half▲ 83.7%€218within the sector's middle half▼ 99.5%-€50,189below the sector's middle half
Solvency-19.3%-2.3%▲ 21.5pp22.3%within the sector's middle half▲ 20.1pp19.9%within the sector's middle half▼ 2.4pp2.1%below the sector's middle half▼ 17.8pp-46.3%below the sector's middle half▼ 48.4pp
Current ratio0.88-1.07▲ 0.191.28within the sector's middle half▲ 0.221.24within the sector's middle half▼ 0.051.00within the sector's middle half▼ 0.230.68below the sector's middle half▼ 0.33
Return on assets (ROA)2.9%-14.4%▲ 11.4pp20.9%above the sector's middle half▲ 6.6pp10.1%within the sector's middle half▼ 10.8pp-52.6%below the sector's middle half▼ 62.7pp-47.9%below the sector's middle half▲ 4.7pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 €45,222, smaller than the loss of €65,083 in 2022.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €106,448
Fixed assets
€915 ▼ 39.7%
Current assets
€105,533 ▲ 33.0%
Equity and liabilities
Equity-€49,274
Debt€155,722
Equity is negative. Debt (€155,722) exceeds the balance-sheet total (€106,448).
Key figures and ratios
EBITDA
-€44,619▲
2022 · -€64,480
Cash flow
-€50,406▼
2022 · -€41,938
Quick ratio
0.61▼
2022 · 0.81
Interest coverage
-7.38▲
2022 · -130.16
Debt ≤ 1 year
€155,722▲
2022 · €79,109
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 |
|---|---|---|---|
| Tangible fixed assets | €1,810 | - | - |
| Financial fixed assets | €237 | - | - |
| Depreciation and write-downs of the year | €336 | €603 | €603 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €570 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €800 | €336 | €603 | €603 | = |
| Other operating charges640/8 | - | - | - | €814 | €516 | €132 | ▼ 74.5% |
| Gross operating margin9900 | €5,057 | €10,882 | €18,792 | €12,678 | -€63,964 | -€44,487 | ▲ 30.4% |
| Operating profit (loss)9901 | €4,270 | €9,406 | €17,360 | €11,529 | -€65,083 | -€45,222 | ▲ 30.5% |
| Financial income75/76B | - | - | - | €17,875 | €25,035 | €255 | ▼ 99.0% |
| Recurring financial income75 | €186 | €844 | €8,458 | €17,875 | €25,035 | €255 | ▼ 99.0% |
| Financial charges65/66B | - | - | - | €668 | €495 | €6,043 | ▲ 12× |
| Recurring financial charges65 | €3,268 | €952 | €427 | €668 | €495 | €6,043 | ▲ 12× |
| Profit (loss) for the period before taxes9903 | €1,187 | €9,299 | €25,391 | €28,736 | -€40,544 | -€51,010 | ▼ 25.8% |
| Income taxes67/77 | - | - | €3,500 | €6,221 | €1,998 | - | - |
| Profit (loss) for the period9904 | €1,187 | €9,299 | €21,891 | €22,515 | -€42,541 | -€51,010 | ▼ 19.9% |
| Profit (loss) for the period to be appropriated9905 | €1,187 | €9,299 | €21,891 | €22,515 | -€42,541 | -€51,010 | ▼ 19.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €40,647 | €64,772 | €104,639 | €222,456 | €80,845 | €106,448 | ▲ 31.7% |
| Fixed assets21/28 | €410 | €410 | €410 | €2,121 | €1,518 | €915 | ▼ 39.7% |
| Tangible fixed assets22/27 | - | - | - | €1,474 | €871 | €268 | ▼ 69.3% |
| Plant, machinery and equipment23 | - | - | - | €1,474 | €871 | €268 | ▼ 69.3% |
| Financial fixed assets28 | €410 | €410 | €410 | €647 | €647 | €647 | = |
| Current assets29/58 | €40,237 | €64,362 | €104,229 | €220,334 | €79,327 | €105,533 | ▲ 33.0% |
| Stocks and contracts in progress3 | €13,132 | €4,300 | €5,026 | €11,394 | €15,031 | €9,836 | ▼ 34.6% |
| Stocks30/36 | - | - | - | €11,394 | €15,031 | €9,836 | ▼ 34.6% |
| Amounts receivable within one year40/41 | €11,960 | €35,756 | €45,645 | €93,307 | €64,251 | €30,533 | ▼ 52.5% |
| Trade receivables40 | - | - | - | €57,978 | €35,332 | - | - |
| Other amounts receivable41 | - | - | - | €35,329 | €28,919 | €30,533 | ▲ 5.6% |
| Cash at bank and in hand54/58 | €13,287 | €24,306 | €53,541 | €113,074 | €45 | €65,164 | ▲ 1,450× |
| Deferred charges and accrued income490/1 | - | - | - | €2,559 | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €40,647 | €64,772 | €104,639 | €222,456 | €80,845 | €106,448 | ▲ 31.7% |
| Equity10/15 | -€7,829 | €1,471 | €23,362 | €44,277 | €1,736 | -€49,274 | - |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €4,762 | €25,677 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €23,817 | - | - | - |
| Profit (loss) carried forward14 | -€28,289 | -€18,989 | - | - | -€18,724 | -€69,734 | ▼ 272% |
| Amounts payable17/49 | €48,475 | €63,301 | €81,277 | €178,178 | €79,109 | €155,722 | ▲ 96.8% |
| Amounts payable after more than one year17 | €2,550 | €2,550 | - | - | - | - | - |
| Amounts payable within one year42/48 | €45,925 | €60,347 | €81,277 | €178,178 | €79,109 | €155,722 | ▲ 96.8% |
| Financial debts43 | - | - | - | - | €3,185 | - | - |
| Credit institutions430/8 | - | - | - | - | €3,185 | - | - |
| Trade debts44 | €32,683 | €40,782 | €68,021 | €141,441 | €60,746 | €131,371 | ▲ 116% |
| Suppliers440/4 | - | - | - | €141,441 | €60,746 | €131,371 | ▲ 116% |
| Taxes, remuneration and social security45 | - | - | - | €35,138 | €15,178 | €24,350 | ▲ 60.4% |
| Taxes450/3 | - | - | - | €29,438 | €15,178 | €19,650 | ▲ 29.5% |
| Remuneration and social security454/9 | - | - | - | €5,700 | - | €4,700 | - |
| Other amounts payable47/48 | - | - | - | €1,600 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,187 | €9,299 | €21,891 | €22,515 | -€42,541 | -€51,010 | ▼ 19.9% |
| + Depreciation and write-downs630 | - | - | €800 | €336 | €603 | €603 | = |
| Operating cash flow (approximation) | €1,187 | €9,299 | €22,691 | €22,851 | -€41,938 | -€50,406 | ▼ 20.2% |
| Investment in fixed assets (approximation) | - | €0 | -€800 | -€2,047 | €0 | €0 | - |
| Change in cash | - | €11,019 | €29,235 | €59,533 | -€113,029 | €65,119 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 29-07-2024 | 2024-00293851 | |
| 31-12-2022 | micro format | 31-10-2023 | 2023-00499479 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20426832 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65500007 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-67000065 | |
| 31-12-2018 | micro format | 11-09-2019 | 2019-64000511 | |
| 31-12-2017 | abbreviated format | 20-07-2018 | 2018-36100349 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-59800490 | |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-55500517 | |
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-54300428 |