GABSCOM
Bankruptcy closedFinancials · financial year 2022, micro format
2022 annual accounts filed 29 days after the deadline Filed on 29 August 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00412258.
Annual accounts 2022 filed on 29-08-2023 PDF all 6 filings
Turnover
≈ €330,000
Estimated: probably between €220,000 and €510,000
EBIT margin
Not included in this filing
Net result
€65,247
2021 · -€20,653
Working capital
€74,339▲ 525%
2021 · €11,890
Multi-year overview
2018 to 2022, 5 financial yearsOperating result
€66,472
▲ 13×
2022
20182022
Net result
€65,247
2022
20182022
Equity
€141,398
▲ 85.7%
2022
20182022
Total assets
€424,038
▲ 43.4%
2022
20182022
Debt
€282,640
▲ 28.8%
2022
20182022
Working capital
€74,339
▲ 525%
2022
20182022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€30,362-€26,084▼ 14.1%-€17,607€4,966€66,472▲ 13×
Net result€29,038-€24,520▼ 15.6%-€7,127-€20,653▼ 190%€65,247
Equity€76,608-€113,529▲ 48.2%€106,402▼ 6.3%€76,151▼ 28.4%€141,398▲ 85.7%
Total assets€143,725-€213,912▲ 48.8%€273,429▲ 27.8%€295,619▲ 8.1%€424,038▲ 43.4%
Debt€67,116-€100,383▲ 49.6%€167,026▲ 66.4%€219,468▲ 31.4%€282,640▲ 28.8%
Working capital€103,204-€158,815▲ 53.9%€172,408▲ 8.6%€11,890▼ 93.1%€74,339▲ 525%
The operating result for 2022 is over 13 times that of 2021 and the highest since 2018. It is the second rise in a row, after the fall in 2020.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €424,038
Fixed assets
€73,342 ▼ 8.9%
Current assets
€350,697 ▲ 63.0%
Equity and liabilities €424,038
Equity
€141,398 ▲ 85.7%
Debt
€282,640 ▲ 28.8%
Debt's share of the balance-sheet total falls from 74.2% to 66.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€75,635▲
2021 · €9,980
Cash flow
€74,410▲
2021 · -€15,639
Current ratio
1.27▲
2021 · 1.06
Quick ratio
1.24▲
2021 · 1.02
Debt to equity
2.00▼
2021 · 2.88
ROE
46.1%▲
2021 · -27.1%
ROA
15.4%▲
2021 · -7.0%
Interest coverage
61.75▲
2021 · 13.91
Debt ≤ 1 year
€276,357▲
2021 · €203,237
Staff costs
€52,099
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 | €53,319 | €2,013 |
| Depreciation and write-downs of the year | €5,014 | €9,163 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €52,099 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,148 | €3,648 | €4,134 | €5,014 | €9,163 | ▲ 82.7% |
| Other operating charges640/8 | - | - | - | €6,761 | €3,042 | ▼ 55.0% |
| Gross operating margin9900 | €49,912 | €30,311 | -€13,472 | €16,741 | €130,777 | ▲ 681% |
| Operating profit (loss)9901 | €30,362 | €26,084 | -€17,607 | €4,966 | €66,472 | ▲ 13× |
| Financial income75/76B | - | - | - | €20,718 | - | - |
| Recurring financial income75 | €0 | - | - | €20,718 | - | - |
| Non-recurring financial income76B | - | - | - | €20,718 | - | - |
| Financial charges65/66B | - | - | - | €717 | €1,225 | ▲ 70.7% |
| Recurring financial charges65 | €1,099 | €1,564 | €1,020 | €717 | €1,225 | ▲ 70.7% |
| Profit (loss) for the period before taxes9903 | €29,279 | €24,520 | -€7,127 | €24,966 | €65,247 | ▲ 161% |
| Income taxes67/77 | €240 | - | - | €45,619 | - | - |
| Profit (loss) for the period9904 | €29,038 | €24,520 | -€7,127 | -€20,653 | €65,247 | - |
| Profit (loss) for the period to be appropriated9905 | €29,038 | €24,520 | -€7,127 | -€20,653 | €65,247 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €143,725 | €213,912 | €273,429 | €295,619 | €424,038 | ▲ 43.4% |
| Fixed assets21/28 | €9,764 | €21,115 | €32,188 | €80,492 | €73,342 | ▼ 8.9% |
| Tangible fixed assets22/27 | €9,764 | €21,115 | €32,188 | €80,492 | €73,342 | ▼ 8.9% |
| Land and buildings22 | - | - | - | €15,165 | €13,354 | ▼ 11.9% |
| Furniture and vehicles24 | - | - | - | €712 | €2,132 | ▲ 200% |
| Other tangible fixed assets26 | - | - | - | €64,615 | €57,855 | ▼ 10.5% |
| Current assets29/58 | €133,961 | €192,796 | €241,241 | €215,127 | €350,697 | ▲ 63.0% |
| Amounts receivable after more than one year29 | - | - | - | €87,918 | €95,436 | ▲ 8.6% |
| Other amounts receivable291 | - | - | - | €87,918 | €95,436 | ▲ 8.6% |
| Stocks and contracts in progress3 | €2,500 | €2,500 | €2,500 | €7,620 | €7,620 | = |
| Stocks30/36 | - | - | - | €7,620 | €7,620 | = |
| Amounts receivable within one year40/41 | - | €1,160 | €10 | €10 | €29,376 | ▲ 2,938× |
| Trade receivables40 | - | - | - | €10 | €29,376 | ▲ 2,938× |
| Cash at bank and in hand54/58 | €69,528 | €69,156 | €97,656 | €109,180 | €128,527 | ▲ 17.7% |
| Deferred charges and accrued income490/1 | - | - | - | €10,399 | €89,738 | ▲ 763% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €143,725 | €213,912 | €273,429 | €295,619 | €424,038 | ▲ 43.4% |
| Equity10/15 | €76,608 | €113,529 | €106,402 | €76,151 | €141,398 | ▲ 85.7% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | = |
| Reserves13 | €40,610 | €60,610 | €60,610 | €60,610 | €60,610 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | = |
| Distributable reserves133 | - | - | - | €40,000 | €40,000 | = |
| Profit (loss) carried forward14 | €29,798 | €34,319 | €27,192 | -€3,059 | €62,188 | - |
| Amounts payable17/49 | €67,116 | €100,383 | €167,026 | €219,468 | €282,640 | ▲ 28.8% |
| Amounts payable after more than one year17 | €260 | €9,501 | €19,638 | - | - | - |
| Amounts payable within one year42/48 | €30,757 | €33,982 | €68,833 | €203,237 | €276,357 | ▲ 36.0% |
| Trade debts44 | €17,136 | €23,525 | €54,123 | €134,329 | €170,046 | ▲ 26.6% |
| Suppliers440/4 | - | - | - | €134,329 | €170,046 | ▲ 26.6% |
| Advances received on contracts in progress46 | - | - | - | - | €14,894 | - |
| Taxes, remuneration and social security45 | - | - | - | €68,909 | €91,417 | ▲ 32.7% |
| Taxes450/3 | - | - | - | €68,909 | €91,417 | ▲ 32.7% |
| Accrued charges and deferred income492/3 | - | - | - | €16,231 | €6,283 | ▼ 61.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,038 | €24,520 | -€7,127 | -€20,653 | €65,247 | - |
| + Depreciation and write-downs630 | €2,148 | €3,648 | €4,134 | €5,014 | €9,163 | ▲ 82.7% |
| Operating cash flow (approximation) | €31,187 | €28,169 | -€2,992 | -€15,639 | €74,410 | - |
| Investment in fixed assets (approximation) | - | -€15,000 | -€15,207 | -€53,319 | -€2,013 | ▲ 96.2% |
| Change in cash | - | -€373 | €28,501 | €11,524 | €19,347 | ▲ 67.9% |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | micro format | 29-08-2023 | 2023-00412258 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20409903 | |
| 31-12-2020 | full format | 16-11-2021 | 2021-77500559 | |
| 31-12-2019 | full format | 27-04-2021 | 2021-12600201 | |
| 31-12-2018 | full format | 10-11-2020 | 2020-69900266 | |
| 31-12-2017 | full format | 21-09-2018 | 2018-65000268 |