FLOVAN
Open bankruptcyFinancials · financial year 2012, abbreviated format
Annual accounts 2012 filed on 21-03-2013 PDF all 4 filings
Turnover
≈ €420,000
Estimated: probably between €260,000 and €790,000
Total assets
€465,123▲ 24.8%
2011 · €372,721
Net result
-€12,085▲ 89.8%
2011 · -€118,766
Working capital
-€109,240▲ 14.3%
2011 · -€127,489
Multi-year overview
2009 to 2012, 4 financial yearsOperating result
€18,816
2012
20092012
Net result
-€12,085
▲ 89.8%
2012
20092012
Equity
€90,008
▼ 11.8%
2012
20092012
Total assets
€465,123
▲ 24.8%
2012
20092012
Debt
€375,115
▲ 38.6%
2012
20092012
Working capital
-€109,240
▲ 14.3%
2012
20092012
Staff (FTE)
2.3
=
2012
20092012
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2009201020112012
Operating result€306,654--€5,702-€35,996▼ 531%€18,816
Net result€301,890--€15,630-€118,766▼ 660%-€12,085▲ 89.8%
Equity€220,490-€220,860▲ 0.2%€102,094▼ 53.8%€90,008▼ 11.8%
Total assets€573,259-€368,671▼ 35.7%€372,721▲ 1.1%€465,123▲ 24.8%
Debt€352,769-€147,811▼ 58.1%€270,627▲ 83.1%€375,115▲ 38.6%
Working capital-€22,611--€78,161▼ 246%-€127,489▼ 63.1%-€109,240▲ 14.3%
Staff (FTE)2.3-2.3=2.3=2.3=
The operating result for 2012 is a profit of €18,816, after a loss of €35,996 in 2011.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2012 in colour, 2011 as the grey bar beneath
Assets €465,123
Fixed assets
€249,401 ▼ 15.9%
Current assets
€215,722 ▲ 183%
Equity and liabilities €465,123
Equity
€90,008 ▼ 11.8%
Debt
€375,115 ▲ 38.6%
Debt's share of the balance-sheet total rises from 72.6% to 80.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€77,360▲
2011 · €21,423
Cash flow
€46,459▲
2011 · -€61,347
Current ratio
0.66▲
2011 · 0.37
Quick ratio
0.59▲
2011 · 0.32
Debt to equity
0.56▼
2011 · 0.65
ROE
-13.4%▲
2011 · -116.3%
ROA
-2.6%▲
2011 · -31.9%
Debt ≤ 1 year
€324,962▲
2011 · €203,789
Debt > 1 year
€50,153▼
2011 · €66,838
Income taxes
€4,553▼
2011 · €71,863
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €82,566 | €51,125 | €57,419 | €58,544 | ▲ 2.0% |
| Gross operating margin9900 | €538,217 | €128,548 | €121,189 | €165,360 | ▲ 36.4% |
| Operating profit (loss)9901 | €306,654 | -€5,702 | -€35,996 | €18,816 | - |
| Recurring financial income75 | - | - | €1 | €8 | ▲ 584% |
| Recurring financial charges65 | €4,764 | €9,357 | €10,908 | €26,356 | ▲ 142% |
| Profit (loss) for the period before taxes9903 | €301,890 | -€15,058 | -€46,904 | -€7,532 | ▲ 83.9% |
| Income taxes67/77 | - | €572 | €71,863 | €4,553 | ▼ 93.7% |
| Profit (loss) for the period9904 | €301,890 | -€15,630 | -€118,766 | -€12,085 | ▲ 89.8% |
| Profit (loss) for the period to be appropriated9905 | €301,890 | -€15,630 | -€118,766 | -€12,085 | ▲ 89.8% |
| Line | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €573,259 | €368,671 | €372,721 | €465,123 | ▲ 24.8% |
| Formation expenses20 | - | - | €8,000 | €6,000 | ▼ 25.0% |
| Fixed assets21/28 | €347,706 | €316,801 | €296,421 | €249,401 | ▼ 15.9% |
| Intangible fixed assets21 | €57,304 | €50,359 | €43,413 | €36,467 | ▼ 16.0% |
| Tangible fixed assets22/27 | €290,402 | €266,443 | €245,008 | €206,709 | ▼ 15.6% |
| Financial fixed assets28 | - | - | - | €225 | - |
| Current assets29/58 | €225,553 | €51,869 | €76,300 | €215,722 | ▲ 183% |
| Stocks and contracts in progress3 | €6,332 | €7,338 | €10,849 | €23,258 | ▲ 114% |
| Amounts receivable within one year40/41 | €215,155 | €39,963 | €59,117 | €165,590 | ▲ 180% |
| Cash at bank and in hand54/58 | €4,066 | €4,569 | €4,334 | €2,803 | ▼ 35.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €573,259 | €368,671 | €372,721 | €465,123 | ▲ 24.8% |
| Equity10/15 | €220,490 | €220,860 | €102,094 | €90,008 | ▼ 11.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €201,860 | €81,860 | €81,860 | = |
| Profit (loss) carried forward14 | €200,030 | €400 | €1,634 | -€10,452 | - |
| Amounts payable17/49 | €352,769 | €147,811 | €270,627 | €375,115 | ▲ 38.6% |
| Amounts payable after more than one year17 | €104,605 | €17,780 | €66,838 | €50,153 | ▼ 25.0% |
| Amounts payable within one year42/48 | €248,164 | €130,030 | €203,789 | €324,962 | ▲ 59.5% |
| Trade debts44 | €38,409 | €46,683 | €99,089 | €118,647 | ▲ 19.7% |
| Line | 2009 | 2010 | 2011 | 2012 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €301,890 | -€15,630 | -€118,766 | -€12,085 | ▲ 89.8% |
| + Depreciation and write-downs630 | €82,566 | €51,125 | €57,419 | €58,544 | ▲ 2.0% |
| Operating cash flow (approximation) | €384,456 | €35,495 | -€61,347 | €46,459 | - |
| Investment in fixed assets (approximation) | - | -€20,220 | -€37,039 | -€11,524 | ▲ 68.9% |
| Change in cash | - | €503 | -€235 | -€1,531 | ▼ 551% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.