GORS DEVELOP
InactiveFinancials · financial year 2022, abbreviated format
2022 annual accounts filed late (31 days) Filed on 31 August 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00388590.
Equity
€837,429▲ 2.3%
2021 · €818,900
Total assets
€1.6m▼ 10.2%
2021 · €1.8m
Net result
€18,529▼ 96.4%
2021 · €508,313
Working capital
€521,933▲ 12.0%
2021 · €466,194
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result has fallen two years in a row; 2022 is 45% below 2021.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.03m
2022
Net result€0.02m
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.6m
2022
Equity€0.8m
2022
Debt€0.8m
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.5m
2022
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€0.03m-€0.04m▲ 32.8%€0.07m▲ 66.6%€0.06m▼ 11.6%€0.03m▼ 44.9%
Net result-€0.005m-€0.009m€0.03m▲ 258%€0.5m▲ 1,416%€0.02m▼ 96.4%
Equity€0.3m-€0.3m▲ 3.5%€0.3m▲ 12.1%€0.8m▲ 164%€0.8m▲ 2.3%
Total assets€1.2m-€1.2m▲ 0.2%€1.7m▲ 43.9%€1.8m▲ 5.9%€1.6m▼ 10.2%
Debt€0.9m-€0.9m▼ 0.8%€1.4m▲ 53.9%€1.0m▼ 30.1%€0.8m▼ 21.0%
Working capital-€0.3m--€0.3m▲ 1.3%-€0.2m▲ 11.8%€0.5m€0.5m▲ 12.0%
Staff (FTE)0
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.6m
Fixed assets
€325,541 ▼ 15.8%
Current assets
€1.3m ▼ 8.7%
Equity and liabilities €1.6m
Equity
€837,429 ▲ 2.3%
Debt
€751,858 ▼ 21.0%
Debt's share of the balance-sheet total falls from 53.7% to 47.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51,209▼
2021 · €125,989
Cash flow
€37,653▼
2021 · €576,087
Current ratio
1.70▲
2021 · 1.51
Debt to equity
0.90▼
2021 · 1.16
ROE
2.2%▼
2021 · 62.1%
ROA
1.2%▼
2021 · 28.7%
Interest coverage
4.14▼
2021 · 8.97
Debt ≤ 1 year
€741,813▼
2021 · €917,898
Debt > 1 year
€10,045▼
2021 · €33,705
Income taxes
€12,755▼
2021 · €21,910
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €78,851 | €77,857 | €69,786 | €67,774 | €19,125 | ▼ 71.8% |
| Other operating charges640/8 | - | - | - | €9,280 | €8,854 | ▼ 4.6% |
| Non-recurring operating charges66A | - | - | - | - | €44,845 | - |
| Gross operating margin9900 | €119,769 | €126,321 | €144,800 | €135,269 | €104,908 | ▼ 22.4% |
| Operating profit (loss)9901 | €29,789 | €39,548 | €65,882 | €58,215 | €32,084 | ▼ 44.9% |
| Financial income75/76B | - | - | - | €486,050 | €11,580 | ▼ 97.6% |
| Recurring financial income75 | - | €3,230 | €4,633 | €486,050 | €11,580 | ▼ 97.6% |
| Financial charges65/66B | - | - | - | €14,042 | €12,379 | ▼ 11.8% |
| Recurring financial charges65 | €26,823 | €20,543 | €18,977 | €14,042 | €12,379 | ▼ 11.8% |
| Profit (loss) for the period before taxes9903 | €2,966 | €22,235 | €51,538 | €530,222 | €31,284 | ▼ 94.1% |
| Income taxes67/77 | €8,011 | €12,884 | €18,016 | €21,910 | €12,755 | ▼ 41.8% |
| Profit (loss) for the period9904 | -€5,045 | €9,351 | €33,522 | €508,313 | €18,529 | ▼ 96.4% |
| Profit (loss) for the period to be appropriated9905 | -€5,045 | €9,351 | €33,522 | €508,313 | €18,529 | ▼ 96.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.7m | €1.8m | €1.6m | ▼ 10.2% |
| Fixed assets21/28 | €0.8m | €0.7m | €0.6m | €0.4m | €0.3m | ▼ 15.8% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.2m | €0.1m | €0.03m | ▼ 64.7% |
| Land and buildings22 | - | - | - | €0.1m | €0.03m | ▼ 67.0% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.003m | = |
| Financial fixed assets28 | €0.5m | €0.5m | €0.5m | €0.3m | €0.3m | ▲ 1.1% |
| Current assets29/58 | €0.4m | €0.5m | €1.0m | €1.4m | €1.3m | ▼ 8.7% |
| Amounts receivable within one year40/41 | €0.3m | €0.4m | €1.0m | €0.9m | €0.8m | ▼ 6.8% |
| Trade receivables40 | - | - | - | €0.05m | €0.06m | ▲ 23.7% |
| Other amounts receivable41 | - | - | - | €0.8m | €0.7m | ▼ 8.6% |
| Cash at bank and in hand54/58 | €0.1m | €0.03m | €0.06m | €0.5m | €0.5m | ▼ 11.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.7m | €1.8m | €1.6m | ▼ 10.2% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.8m | €0.8m | ▲ 2.3% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | = |
| Revaluation surpluses12 | - | - | - | €0.02m | €0 | ▼ 100% |
| Reserves13 | €0.2m | €0.2m | €0.3m | €0.8m | €0.8m | ▲ 4.9% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0 | - | - |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | ▲ 4.9% |
| Amounts payable17/49 | €0.9m | €0.9m | €1.4m | €1.0m | €0.8m | ▼ 21.0% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.09m | €0.03m | €0.01m | ▼ 70.2% |
| Financial debts170/4 | - | - | - | €0.03m | €0.01m | ▼ 70.2% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €1.3m | €0.9m | €0.7m | ▼ 19.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.09m | €0.04m | ▼ 48.8% |
| Trade debts44 | €0.06m | €0.06m | €0.08m | €0.09m | €0.2m | ▲ 79.8% |
| Suppliers440/4 | - | - | - | €0.09m | €0.2m | ▲ 79.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.003m | €0.003m | ▲ 0.1% |
| Taxes450/3 | - | - | - | €0.003m | €0.003m | ▲ 0.1% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.5m | ▼ 27.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,045 | €9,351 | €33,522 | €508,313 | €18,529 | ▼ 96.4% |
| + Depreciation and write-downs630 | €78,851 | €77,857 | €69,786 | €67,774 | €19,125 | ▼ 71.8% |
| Operating cash flow (approximation) | €73,807 | €87,208 | €103,307 | €576,087 | €37,653 | ▼ 93.5% |
| Investment in fixed assets (approximation) | - | €0 | -€5,170 | €182,792 | €41,745 | ▼ 77.2% |
| Change in cash | - | -€96,393 | €28,244 | €465,941 | -€60,364 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00388590 |
| 31-12-2021 | abbreviated format | 09-08-2022 | 2022-20277916 |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-56100554 |
| 31-12-2019 | abbreviated format | 25-09-2020 | 2020-55400240 |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-55600345 |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-53000541 |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-50600338 |
| 31-12-2015 | abbreviated format | 01-07-2016 | 2016-25100102 |
| 31-12-2014 | abbreviated format | 15-07-2015 | 2015-30200570 |
| 31-12-2013 | abbreviated format | 26-08-2014 | 2014-45900440 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.