FRST
Dissolved and wound upFinancials · financial year 2022, abbreviated format
Annual accounts 2022 filed on 05-06-2023 PDF all 31 filings
Turnover
≈ €370,000
Estimated: probably between €230,000 and €690,000
Total assets
€729,745▲ 15.2%
2021 · €633,467
Net result
€99,103▲ 63.9%
2021 · €60,452
Working capital
€674,631▲ 24.3%
2021 · €542,850
Multi-year overview
2018 to 2022, 5 financial yearsOperating result
€139,843
▲ 39.8%
2022
20182022
Net result
€99,103
▲ 63.9%
2022
20182022
Equity
€692,698
▲ 16.7%
2022
20182022
Total assets
€729,745
▲ 15.2%
2022
20182022
Debt
€37,047
▼ 7.1%
2022
20182022
Working capital
€674,631
▲ 24.3%
2022
20182022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€0.1m-€0.1m▼ 25.9%€0.2m▲ 56.5%€0.1m▼ 33.3%€0.1m▲ 39.8%
Net result€0.08m-€0.06m▼ 23.6%€0.1m▲ 69.6%€0.06m▼ 43.9%€0.1m▲ 63.9%
Equity€1.0m-€1.1m▲ 6.2%€0.7m▼ 37.4%€0.6m▼ 11.6%€0.7m▲ 16.7%
Total assets€1.1m-€1.1m▲ 3.0%€0.7m▼ 34.3%€0.6m▼ 11.6%€0.7m▲ 15.2%
Debt€0.05m-€0.02m▼ 64.6%€0.05m▲ 169%€0.04m▼ 11.8%€0.04m▼ 7.1%
Working capital€0.8m-€0.8m▲ 1.4%€0.6m▼ 24.1%€0.5m▼ 13.4%€0.7m▲ 24.3%
The operating result for 2022 is 40% higher than in 2021. It is a recovery after the fall in 2021.
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
2022 in colour, 2021 as the grey bar beneath
Assets €729,745
Fixed assets
€19,567 ▼ 62.5%
Current assets
€710,178 ▲ 22.2%
Equity and liabilities €729,745
Equity
€692,698 ▲ 16.7%
Debt
€37,047 ▼ 7.1%
Debt's share of the balance-sheet total falls from 6.3% to 5.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€144,451▲
2021 · €111,107
Cash flow
€103,711▲
2021 · €71,529
Current ratio
19.98▲
2021 · 15.15
Debt to equity
0.05▼
2021 · 0.07
ROE
14.3%▲
2021 · 10.2%
ROA
13.6%▲
2021 · 9.5%
Interest coverage
over 100
2021 · over 100
Debt ≤ 1 year
€35,547▼
2021 · €38,372
Income taxes
€47,796▲
2021 · €47,391
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | €17,348 | €6,639 |
| Depreciation and write-downs of the year | €11,077 | €4,608 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | €24,103 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,820 | €14,428 | €2,810 | €11,077 | €4,608 | ▼ 58.4% |
| Other operating charges640/8 | - | - | - | €1,238 | €616 | ▼ 50.3% |
| Gross operating margin9900 | €151,607 | €113,869 | €155,581 | €112,345 | €145,067 | ▲ 29.1% |
| Operating profit (loss)9901 | €129,397 | €95,879 | €150,025 | €100,030 | €139,843 | ▲ 39.8% |
| Financial income75/76B | - | - | - | €7,895 | €7,152 | ▼ 9.4% |
| Recurring financial income75 | €6,582 | €6,964 | €10,658 | €7,895 | €7,152 | ▼ 9.4% |
| Financial charges65/66B | - | - | - | €82 | €96 | ▲ 16.4% |
| Recurring financial charges65 | €2,040 | €1,275 | €64 | €82 | €96 | ▲ 16.4% |
| Profit (loss) for the period before taxes9903 | €133,939 | €101,568 | €160,620 | €107,843 | €146,899 | ▲ 36.2% |
| Income taxes67/77 | €50,798 | €38,033 | €52,894 | €47,391 | €47,796 | ▲ 0.9% |
| Profit (loss) for the period9904 | €83,141 | €63,535 | €107,726 | €60,452 | €99,103 | ▲ 63.9% |
| Transfer from tax-exempt reserves789 | - | - | - | €54,792 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €82,961 | €63,425 | €109,744 | €115,244 | €99,103 | ▼ 14.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.1m | €0.7m | €0.6m | €0.7m | ▲ 15.2% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €0.2m | €0.2m | €0.05m | €0.05m | €0.02m | ▼ 62.5% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.05m | €0.05m | €0.02m | ▼ 62.5% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.01m | ▼ 76.3% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.01m | ▼ 13.6% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €0.9m | €0.8m | €0.7m | €0.6m | €0.7m | ▲ 22.2% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 22.2% |
| Trade receivables40 | - | - | - | €0.01m | €0.01m | ▲ 45.6% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.2m | ▼ 24.6% |
| Current investments50/53 | €0.07m | €0.06m | €0.003m | €0 | - | - |
| Cash at bank and in hand54/58 | €0.6m | €0.5m | €0.4m | €0.3m | €0.5m | ▲ 68.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.004m | ▲ 32.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €0.7m | €0.6m | €0.7m | ▲ 15.2% |
| Equity10/15 | €1.0m | €1.1m | €0.7m | €0.6m | €0.7m | ▲ 16.7% |
| Contributions10/11 | €0.5m | €0.5m | - | €0.006m | €0.006m | = |
| Reserves13 | €0.6m | €0.6m | €0.7m | €0.6m | €0.7m | ▲ 16.9% |
| Tax-exempt reserves132 | - | - | - | €384 | €384 | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.7m | ▲ 16.9% |
| Profit (loss) carried forward14 | €0 | - | - | €264 | €264 | = |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €0.05m | €0.02m | €0.05m | €0.04m | €0.04m | ▼ 7.1% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.05m | €0.01m | €0.04m | €0.04m | €0.04m | ▼ 7.4% |
| Trade debts44 | €0.001m | €340 | €0.001m | €0.003m | €285 | ▼ 90.5% |
| Suppliers440/4 | - | - | - | €0.003m | €285 | ▼ 90.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.03m | ▼ 16.8% |
| Taxes450/3 | - | - | - | €0.03m | €0.03m | ▼ 16.8% |
| Other amounts payable47/48 | - | - | - | €0.004m | €0.009m | ▲ 124% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.002m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,141 | €63,535 | €107,726 | €60,452 | €99,103 | ▲ 63.9% |
| + Depreciation and write-downs630 | €18,820 | €14,428 | €2,810 | €11,077 | €4,608 | ▼ 58.4% |
| Operating cash flow (approximation) | €101,961 | €77,963 | €110,536 | €71,529 | €103,711 | ▲ 45.0% |
| Investment in fixed assets (approximation) | - | -€66,968 | €200,948 | -€17,348 | €28,071 | - |
| Change in cash | - | -€88,685 | -€118,239 | -€87,490 | €193,789 | - |
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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | abbreviated format | 05-06-2023 | 2023-00109545 | |
| 31-12-2021 | abbreviated format | 01-07-2022 | 2022-20127670 | |
| 31-12-2020 | abbreviated format | 13-07-2021 | 2021-35000366 | |
| 31-12-2019 | abbreviated format | 30-09-2020 | 2020-57500399 | |
| 31-12-2018 | abbreviated format | 26-06-2019 | 2019-25200481 | |
| 31-12-2017 | abbreviated format | 02-07-2018 | 2018-28000116 | |
| 31-12-2016 | micro format | 12-07-2017 | 2017-30600291 | |
| 31-12-2015 | abbreviated format | 29-06-2016 | 2016-23300187 | |
| 31-12-2014 | abbreviated format | 21-08-2015 | 2015-47500451 | |
| 31-12-2013 | abbreviated format | 27-08-2014 | 2014-47000561 |