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Open bankruptcyFinancials · financial year 2020, micro format
2020 annual accounts filed 59 days after the deadline Filed on 28 September 2021, deadline 31 July 2021 (7 months after the close on 31 December 2020, Companies Code art. 3:10). Source: NBB, 2021-70400367.
Annual accounts 2020 filed on 28-09-2021 PDF all 3 filings
Turnover
€94,587▼ 50.3%
2019 · €190,141
EBIT margin
-9.0%▼ 21.8pp
2019 · 12.8%
Net result
-€10,370
2019 · €14,608
Working capital
-€19,937▲ 29.3%
2019 · -€28,183
Multi-year overview
2018 to 2020, 3 financial yearsTurnover
€94,587
▼ 50.3%
2020
20182020
Operating result
-€8,546
2020
20182020
Net result
-€10,370
2020
middle half of the sector
20182020
EBIT margin
-9.0%
▼ 21.8pp
2020
20182020
Equity
€19,505
▼ 34.7%
2020
middle half of the sector
20182020
Total assets
€60,241
▼ 22.9%
2020
lowest quarter of the sector
20182020
Debt
€40,736
▼ 15.6%
2020
20182020
Working capital
-€19,937
▲ 29.3%
2020
middle half of the sector
20182020
Solvency
32.4%
▼ 5.8pp
2020
middle half of the sector
20182020
Current ratio
0.51
▲ 0.09
2020
middle half of the sector
20182020
Return on assets (ROA)
-17.2%
▼ 35.9pp
2020
lowest quarter of the sector
20182020
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020
Turnover€179,727-€190,141▲ 5.8%€94,587▼ 50.3%
Operating result€6,348-€24,353▲ 284%-€8,546
Net result€2,867-€14,608▲ 410%-€10,370within the sector's middle half
EBIT margin3.5%-12.8%▲ 9.3pp-9.0%▼ 21.8pp
Equity€15,267-€29,875▲ 95.7%€19,505within the sector's middle half▼ 34.7%
Total assets€71,584-€78,169▲ 9.2%€60,241below the sector's middle half▼ 22.9%
Debt€56,317-€48,294▼ 14.2%€40,736▼ 15.6%
Working capital-€50,357--€28,183▲ 44.0%-€19,937within the sector's middle half▲ 29.3%
Solvency21.3%-38.2%▲ 16.9pp32.4%within the sector's middle half▼ 5.8pp
Current ratio0.11-0.42▲ 0.310.51within the sector's middle half▲ 0.09
Return on assets (ROA)4.0%-18.7%▲ 14.7pp-17.2%below the sector's middle half▼ 35.9pp
above
within
below
The sector band is the middle half of the companies in Accommodation (NACE 55). 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 2020 is a loss of €8,546, after a profit of €24,353 in 2019. It is the lowest result since 2018.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €60,241
Fixed assets
€39,442 ▼ 32.1%
Current assets
€20,799 ▲ 3.4%
Equity and liabilities €60,241
Equity
€19,505 ▼ 34.7%
Debt
€40,736 ▼ 15.6%
Debt's share of the balance-sheet total rises from 61.8% to 67.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,070▼
2019 · €42,969
Cash flow
€8,246▼
2019 · €33,224
ROE
-53.2%▼
2019 · 48.9%
Debt ≤ 1 year
€40,736▼
2019 · €48,294
Income taxes
€729
Customer credit
18 days▲
2019 · 5 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Turnover70 | €179,727 | €190,141 | €94,587 | ▼ 50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,406 | €18,616 | €18,616 | = |
| Gross operating margin9900 | €32,027 | €48,024 | €13,770 | ▼ 71.3% |
| Operating profit (loss)9901 | €6,348 | €24,353 | -€8,546 | - |
| Recurring financial income75 | €1 | €235 | - | - |
| Recurring financial charges65 | €1,480 | €9,862 | €642 | ▼ 93.5% |
| Profit (loss) for the period before taxes9903 | €2,867 | €14,608 | -€9,641 | - |
| Income taxes67/77 | - | - | €729 | - |
| Profit (loss) for the period9904 | €2,867 | €14,608 | -€10,370 | - |
| Profit (loss) for the period to be appropriated9905 | €2,867 | €14,608 | -€10,370 | - |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €71,584 | €78,169 | €60,241 | ▼ 22.9% |
| Fixed assets21/28 | €65,624 | €58,058 | €39,442 | ▼ 32.1% |
| Tangible fixed assets22/27 | €65,624 | €58,058 | €39,442 | ▼ 32.1% |
| Current assets29/58 | €5,960 | €20,111 | €20,799 | ▲ 3.4% |
| Amounts receivable within one year40/41 | €354 | €2,829 | €4,538 | ▲ 60.4% |
| Cash at bank and in hand54/58 | €5,606 | €17,282 | €16,261 | ▼ 5.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €71,584 | €78,169 | €60,241 | ▼ 22.9% |
| Equity10/15 | €15,267 | €29,875 | €19,505 | ▼ 34.7% |
| Contributions10/11 | €12,400 | €12,400 | - | - |
| Profit (loss) carried forward14 | €2,867 | €17,475 | €7,105 | ▼ 59.3% |
| Amounts payable17/49 | €56,317 | €48,294 | €40,736 | ▼ 15.6% |
| Amounts payable within one year42/48 | €56,317 | €48,294 | €40,736 | ▼ 15.6% |
| Trade debts44 | €47,628 | €38,685 | €8,911 | ▼ 77.0% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,867 | €14,608 | -€10,370 | - |
| + Depreciation and write-downs630 | €16,406 | €18,616 | €18,616 | = |
| Operating cash flow (approximation) | €19,273 | €33,224 | €8,246 | ▼ 75.2% |
| Investment in fixed assets (approximation) | - | -€11,050 | €0 | - |
| Change in cash | - | €11,676 | -€1,021 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.