FRIGO
InactiveFinancials · financial year 2023, abbreviated format
2023 annual accounts filed 9 days after the deadline Filed on 9 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00340972.
Annual accounts 2023 filed on 09-08-2024 PDF all 47 filings
Turnover
€2.5m▼ 89.2%
2021 · €23.4m
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
-€146,876
2022 · €2.3m
Working capital
€4.2m▼ 20.5%
2022 · €5.2m
Multi-year overview
2018 to 2023, 6 financial yearsTurnover
no figure
2023
20182023
Operating result
-€173,128
2023
20182023
Net result
-€146,876
2023
20182023
Equity
€4.5m
▼ 3.2%
2023
20182023
Total assets
€5.6m
▲ 6.1%
2023
20182023
Debt
€514,346
▲ 27×
2023
20182023
Working capital
€4.2m
▼ 20.5%
2023
20182023
Staff (FTE)
0
▼ 100%
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Turnover€31.2m-€26.4m▼ 15.3%€20.2m▼ 23.7%€23.4m▲ 15.9%€2.5m▼ 89.2%
Operating result€0.08m--€0.1m-€0.2m▼ 76.8%€0.4m€3.1m▲ 739%-€0.2m
Net result€0.02m--€0.1m-€0.2m▼ 55.2%€0.3m€2.3m▲ 573%-€0.1m
Equity€2.7m-€2.6m▼ 5.0%€2.4m▼ 8.1%€2.7m▲ 14.3%€4.6m▲ 71.7%€4.5m▼ 3.2%
Total assets€8.1m-€6.3m▼ 22.6%€5.3m▼ 15.0%€4.4m▼ 17.7%€5.3m▲ 19.4%€5.6m▲ 6.1%
Debt€5.4m-€3.7m▼ 31.4%€3.0m▼ 19.7%€1.7m▼ 43.1%€0.02m▼ 98.9%€0.5m▲ 27×
Working capital€2.6m-€2.5m▼ 5.5%€2.3m▼ 7.2%€2.7m▲ 15.6%€5.2m▲ 96.5%€4.2m▼ 20.5%
Staff (FTE)17-15.7▼ 7.6%13.8▼ 12.1%11.8▼ 14.5%0.6▼ 94.9%0▼ 100%
The operating result for 2023 is a loss of €173,128, after a profit of €3.1m in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €5.6m
Fixed assets
€899,563 ▲ 7,269×
Current assets
€4.7m ▼ 11.0%
Equity and liabilities €5.6m
Equity
€4.5m ▼ 3.2%
Provisions
€559,800 ▼ 4.6%
Debt
€514,346 ▲ 27×
Debt's share of the balance-sheet total rises from 0.4% to 9.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€64,327
Cash flow
-€38,076
Current ratio
9.13
Debt to equity
0.11▲
2022 · 0.00
ROE
-3.3%▼
2022 · 49.0%
ROA
-2.6%▼
2022 · 43.4%
Interest coverage
-61.78
Debt ≤ 1 year
€511,662▲
2022 · €18,692
Income taxes
€7▼
2022 · €175,643
Staff costs
€0▼
2022 · €56,900
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 11 | - |
| full-time | 9 | - |
| part-time | 2 | - |
| in full-time equivalents | 10.6 | - |
| Average over the year, in full-time equivalents | 11.8 | 0.6 |
| On a permanent contract | 11 | - |
| Joined | 2 | 0 |
| Left | 6 | 11 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | - | €1.0m |
| Depreciation and write-downs of the year | €20,329 | - | €108,800 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Fee for the audit | €4,100 | - | - |
Source: notes to the 2021 to 2023 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €23.4m | €6.0m | - | - |
| Turnover70 | €31.2m | €26.4m | €20.2m | €23.4m | €2.5m | - | - |
| Other operating income74 | - | - | - | €0.04m | €3.5m | - | - |
| Non-recurring operating income76A | - | - | - | €0.01m | - | - | - |
| Operating charges60/66A | - | - | - | €23.1m | €3.0m | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €21.6m | €2.4m | - | - |
| Purchases600/8 | - | - | - | €20.4m | €1.2m | - | - |
| Change in stocks: decrease (increase)609 | - | - | - | €1.1m | €1.2m | - | - |
| Services and other goods61 | - | - | - | €0.9m | €0.4m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.06m | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.02m | €0.02m | €0.02m | - | €0.1m | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.02m | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.05m | €0.01m | ▼ 71.4% |
| Gross operating margin9900 | - | - | - | - | - | -€0.05m | - |
| Operating profit (loss)9901 | €0.08m | -€0.1m | -€0.2m | €0.4m | €3.1m | -€0.2m | - |
| Financial income75/76B | - | - | - | €0.03m | €0.001m | €99 | ▼ 91.2% |
| Recurring financial income75 | €0.001m | €0.006m | €0.02m | €0.03m | €0.001m | €99 | ▼ 91.2% |
| Income from current assets751 | - | - | - | €0.03m | €0.001m | - | - |
| Other financial income752/9 | - | - | - | €0.001m | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.01m | €0.001m | ▼ 91.5% |
| Recurring financial charges65 | €0.07m | €0.06m | €0.05m | €0.03m | €0.01m | €0.001m | ▼ 91.5% |
| Debt charges650 | €0.05m | €0.05m | €0.03m | €0.03m | €0.01m | - | - |
| Other financial charges652/9 | - | - | - | €0.006m | €0.002m | - | - |
| Profit (loss) for the period before taxes9903 | €0.02m | -€0.1m | -€0.2m | €0.4m | €3.0m | -€0.2m | - |
| Transfer from deferred taxes780 | - | - | - | - | - | €0.03m | - |
| Transfer to deferred taxes680 | - | - | - | - | €0.6m | €0 | ▼ 100% |
| Income taxes67/77 | -€0.006m | -€0.01m | €0.002m | €0.03m | €0.2m | €7 | ▼ 100.0% |
| Taxes670/3 | - | - | - | €0.03m | €0.2m | - | - |
| Profit (loss) for the period9904 | €0.02m | -€0.1m | -€0.2m | €0.3m | €2.3m | -€0.1m | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €0.08m | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €1.8m | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | -€0.1m | -€0.2m | €0.3m | €0.5m | -€0.07m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €8.1m | €6.3m | €5.3m | €4.4m | €5.3m | €5.6m | ▲ 6.1% |
| Fixed assets21/28 | €0.09m | €0.1m | €0.06m | €0.04m | €124 | €0.9m | ▲ 7,269× |
| Tangible fixed assets22/27 | €0.09m | €0.1m | €0.06m | €0.04m | - | €0.9m | - |
| Land and buildings22 | - | - | - | €0.01m | - | €0.9m | - |
| Plant, machinery and equipment23 | - | - | - | €0.001m | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.03m | - | - | - |
| Financial fixed assets28 | €0.001m | €394 | €394 | €124 | €124 | €124 | = |
| Other financial fixed assets284/8 | - | - | - | €124 | €124 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €124 | €124 | - | - |
| Current assets29/58 | €8.0m | €6.2m | €5.3m | €4.4m | €5.3m | €4.7m | ▼ 11.0% |
| Stocks and contracts in progress3 | €4.2m | €2.8m | €2.4m | €1.2m | - | - | - |
| Stocks30/36 | - | - | - | €1.2m | - | - | - |
| Goods purchased for resale34 | - | - | - | €1.2m | - | - | - |
| Amounts receivable within one year40/41 | €3.6m | €3.3m | €2.6m | €2.7m | €0.9m | €4.1m | ▲ 382% |
| Trade receivables40 | - | - | - | €2.6m | €0.2m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.7m | €4.1m | ▲ 529% |
| Current investments50/53 | - | - | - | - | €2.0m | €0 | ▼ 100% |
| Other investments51/53 | - | - | - | - | €2.0m | - | - |
| Cash at bank and in hand54/58 | €0.3m | €0.07m | €0.2m | €0.4m | €2.4m | €0.6m | ▼ 77.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €174 | €0 | ▼ 100% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €8.1m | €6.3m | €5.3m | €4.4m | €5.3m | €5.6m | ▲ 6.1% |
| Equity10/15 | €2.7m | €2.6m | €2.4m | €2.7m | €4.6m | €4.5m | ▼ 3.2% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €2.5m | €2.3m | €2.1m | €2.6m | €4.5m | €4.4m | ▼ 1.8% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | - | €1.8m | €1.7m | ▼ 4.6% |
| Distributable reserves133 | - | - | - | €2.6m | €2.7m | €2.7m | = |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €0.1m | - | - | -€0.07m | - |
| Provisions and deferred taxes16 | - | - | - | - | €0.6m | €0.6m | ▼ 4.6% |
| Deferred taxes168 | - | - | - | - | €0.6m | €0.6m | ▼ 4.6% |
| Amounts payable17/49 | €5.4m | €3.7m | €3.0m | €1.7m | €0.02m | €0.5m | ▲ 27× |
| Amounts payable within one year42/48 | €5.4m | €3.7m | €3.0m | €1.7m | €0.02m | €0.5m | ▲ 27× |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.5m | - |
| Financial debts43 | - | - | - | €0.9m | - | - | - |
| Other loans439 | - | - | - | €0.9m | - | - | - |
| Trade debts44 | €1.4m | €1.0m | €0.5m | €0.6m | €0.02m | €0.01m | ▼ 37.5% |
| Suppliers440/4 | - | - | - | €0.6m | €0.02m | €0.01m | ▼ 37.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €40 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €0.09m | €40 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | €0.05m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €368 | €0.003m | ▲ 629% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | -€0.1m | -€0.2m | €0.3m | €2.3m | -€0.1m | - |
| + Depreciation and write-downs630 | €0.03m | €0.02m | €0.02m | €0.02m | - | €0.1m | - |
| Operating cash flow (approximation) | €0.05m | -€0.1m | -€0.2m | €0.4m | €2.3m | -€0.04m | - |
| Investment in fixed assets (approximation) | - | -€0.03m | €0.007m | €270 | €0.04m | -€1.0m | - |
| Change in cash | - | -€0.2m | €0.2m | €0.2m | €2.0m | -€1.9m | - |
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 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 09-08-2024 | 2024-00340972 | |
| 31-12-2022 | full format | 30-08-2023 | 2023-00373940 | |
| 31-12-2021 | full format | 23-08-2022 | 2022-20304694 | |
| 31-12-2020 | full format | 15-04-2021 | 2021-10500195 | |
| 31-12-2019 | full format | 20-04-2020 | 2020-09400355 | |
| 31-12-2018 | full format | 11-04-2019 | 2019-09900271 | |
| 31-12-2017 | full format | 11-04-2018 | 2018-09700252 | |
| 31-12-2016 | full format | 28-06-2017 | 2017-24900234 | |
| 31-12-2015 | full format | 26-05-2016 | 2016-13500140 | |
| 31-12-2014 | full format | 03-04-2015 | 2015-09300299 |