GRANTHA
Open bankruptcyFinancials · financial year 2021, micro format
2021 annual accounts filed 87 days after the deadline Filed on 26 October 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20477251.
Annual accounts 2021 filed on 26-10-2022 PDF all 3 filings
Turnover
≈ €130,000
Estimated: probably between €80,000 and €240,000
Total assets
€298,693▲ 265%
2020 · €81,902
Net result
-€6,389
2020 · €526
Working capital
€4,091▲ 5.1%
2020 · €3,892
Multi-year overview
2019 to 2021, 3 financial yearsOperating result
-€9,184
2021
20192021
Net result
-€6,389
2021
lowest quarter of the sector
20192021
Equity
€12,768
▲ 27.3%
2021
middle half of the sector
20192021
Total assets
€298,693
▲ 265%
2021
middle half of the sector
20192021
Debt
€285,925
▲ 298%
2021
20192021
Working capital
€4,091
▲ 5.1%
2021
middle half of the sector
20192021
Solvency
4.3%
▼ 8.0pp
2021
lowest quarter of the sector
20192021
Current ratio
1.01
▼ 0.04
2021
middle half of the sector
20192021
Return on assets (ROA)
-2.1%
▼ 2.8pp
2021
middle half of the sector
20192021
Staff (FTE)
1.7
▲ 240%
2021
20192021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021
Operating result€73-€943▲ 13×-€9,184
Net result€31-€526within the sector's middle half▲ 17×-€6,389below the sector's middle half
Equity€7,213-€10,028within the sector's middle half▲ 39.0%€12,768within the sector's middle half▲ 27.3%
Total assets€27,143-€81,902within the sector's middle half▲ 202%€298,693within the sector's middle half▲ 265%
Debt€19,930-€71,873▲ 261%€285,925▲ 298%
Working capital€6,547-€3,892within the sector's middle half▼ 40.6%€4,091within the sector's middle half▲ 5.1%
Solvency26.6%-12.2%within the sector's middle half▼ 14.3pp4.3%below the sector's middle half▼ 8.0pp
Current ratio1.33-1.05within the sector's middle half▼ 0.271.01within the sector's middle half▼ 0.04
Return on assets (ROA)0.1%-0.6%within the sector's middle half▲ 0.5pp-2.1%within the sector's middle half▼ 2.8pp
Staff (FTE)0.5below the sector's middle half1.7▲ 240%
above
within
below
The sector band is the middle half of the companies in Publishing activities (NACE 58). 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 2021 is a loss of €9,184, after a profit of €943 in 2020. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €298,693
Fixed assets
€20,557 ▲ 235%
Current assets
€278,136 ▲ 267%
Equity and liabilities €298,693
Equity
€12,768 ▲ 27.3%
Debt
€285,925 ▲ 298%
Debt's share of the balance-sheet total rises from 87.8% to 95.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€5,751▼
2020 · €1,397
Cash flow
-€2,956▼
2020 · €980
Debt to equity
22.39
ROE
-50.0%▼
2020 · 5.2%
Interest coverage
-8.10
Debt ≤ 1 year
€274,045▲
2020 · €71,873
Debt > 1 year
€11,880
Income taxes
€148▲
2020 · €6
Staff costs
€38,950
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 2 |
| part-time | 2 |
| in full-time equivalents | 1.4 |
| Average over the year, in full-time equivalents | 1.1 |
| On a permanent contract | 2 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €3,718 |
| Financial fixed assets | €14,135 |
| Depreciation and write-downs of the year | €3,433 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €38,950 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €328 | €454 | €3,433 | ▲ 656% |
| Gross operating margin9900 | €622 | €14,211 | €33,199 | ▲ 134% |
| Operating profit (loss)9901 | €73 | €943 | -€9,184 | - |
| Financial income75/76B | - | - | €3,653 | - |
| Recurring financial income75 | €3 | €5 | €3,653 | ▲ 712× |
| Financial charges65/66B | - | - | €710 | - |
| Recurring financial charges65 | €11 | €417 | €710 | ▲ 70.5% |
| Profit (loss) for the period before taxes9903 | €65 | €532 | -€6,241 | - |
| Income taxes67/77 | €34 | €6 | €148 | ▲ 25× |
| Profit (loss) for the period9904 | €31 | €526 | -€6,389 | - |
| Profit (loss) for the period to be appropriated9905 | €31 | €526 | -€6,389 | - |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €27,143 | €81,902 | €298,693 | ▲ 265% |
| Fixed assets21/28 | €666 | €6,137 | €20,557 | ▲ 235% |
| Tangible fixed assets22/27 | €516 | €5,812 | €6,097 | ▲ 4.9% |
| Furniture and vehicles24 | - | - | €6,097 | - |
| Financial fixed assets28 | €150 | €325 | €14,460 | ▲ 44× |
| Current assets29/58 | €26,476 | €75,765 | €278,136 | ▲ 267% |
| Amounts receivable within one year40/41 | €23,476 | €70,952 | €271,269 | ▲ 282% |
| Trade receivables40 | - | - | €271,269 | - |
| Cash at bank and in hand54/58 | €3,000 | €4,764 | €6,825 | ▲ 43.3% |
| Deferred charges and accrued income490/1 | - | - | €41 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €27,143 | €81,902 | €298,693 | ▲ 265% |
| Equity10/15 | €7,213 | €10,028 | €12,768 | ▲ 27.3% |
| Contributions10/11 | €7,182 | - | €18,600 | - |
| Profit (loss) carried forward14 | €31 | €556 | -€5,832 | - |
| Amounts payable17/49 | €19,930 | €71,873 | €285,925 | ▲ 298% |
| Amounts payable after more than one year17 | - | - | €11,880 | - |
| Financial debts170/4 | - | - | €11,880 | - |
| Amounts payable within one year42/48 | €19,930 | €71,873 | €274,045 | ▲ 281% |
| Current portion of amounts payable after more than one year42 | - | - | €2,882 | - |
| Trade debts44 | €15,896 | €52,339 | €203,709 | ▲ 289% |
| Suppliers440/4 | - | - | €203,709 | - |
| Advances received on contracts in progress46 | - | - | €50,000 | - |
| Taxes, remuneration and social security45 | - | - | €9,283 | - |
| Taxes450/3 | - | - | €6,412 | - |
| Remuneration and social security454/9 | - | - | €2,871 | - |
| Other amounts payable47/48 | - | - | €8,171 | - |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €31 | €526 | -€6,389 | - |
| + Depreciation and write-downs630 | €328 | €454 | €3,433 | ▲ 656% |
| Operating cash flow (approximation) | €359 | €980 | -€2,956 | - |
| Investment in fixed assets (approximation) | - | -€5,925 | -€17,853 | ▼ 201% |
| Change in cash | - | €1,764 | €2,061 | ▲ 16.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.