Happily
Open bankruptcyFinancials · financial year 2023, abbreviated format
2023 annual accounts filed 392 days after the deadline Filed on 27 August 2025, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2025-00445081.
Annual accounts 2023 filed on 27-08-2025 PDF all 5 filings
Equity
-€137,545▼ 269%
2022 · -€37,226
Total assets
€259,612▼ 0.2%
2022 · €260,005
Net result
-€100,319▼ 165%
2022 · -€37,885
Working capital
-€130,828
2022 · €23,924
Multi-year overview
2019 to 2023, 5 financial yearsOperating result
-€89,719
▼ 179%
2023
20192023
Net result
-€100,319
▼ 165%
2023
lowest quarter of the sector
20192023
Equity
-€137,545
▼ 269%
2023
lowest quarter of the sector
20192023
Total assets
€259,612
▼ 0.2%
2023
lowest quarter of the sector
20192023
Debt
€397,157
▲ 33.6%
2023
20192023
Working capital
-€130,828
2023
lowest quarter of the sector
20192023
Solvency
-53.0%
▼ 38.7pp
2023
lowest quarter of the sector
20192023
Current ratio
0.59
▼ 0.54
2023
lowest quarter of the sector
20192023
Return on assets (ROA)
-38.6%
▼ 24.1pp
2023
lowest quarter of the sector
20192023
Staff (FTE)
1.4
▼ 6.7%
2023
lowest quarter of the sector
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result-€32,623-€8,501€19,804▲ 133%-€32,201-€89,719▼ 179%
Net result-€37,921-€4,081below the sector's middle half€15,916within the sector's middle half▲ 290%-€37,885below the sector's middle half-€100,319below the sector's middle half▼ 165%
Equity-€19,338--€15,257below the sector's middle half▲ 21.1%€659below the sector's middle half-€37,226below the sector's middle half-€137,545below the sector's middle half▼ 269%
Total assets€180,044-€191,350below the sector's middle half▲ 6.3%€231,658below the sector's middle half▲ 21.1%€260,005below the sector's middle half▲ 12.2%€259,612below the sector's middle half▼ 0.2%
Debt€199,383-€206,608▲ 3.6%€230,999▲ 11.8%€297,230▲ 28.7%€397,157▲ 33.6%
Working capital€20,333-€17,347within the sector's middle half▼ 14.7%€26,227within the sector's middle half▲ 51.2%€23,924within the sector's middle half▼ 8.8%-€130,828below the sector's middle half
Solvency-10.7%--8.0%below the sector's middle half▲ 2.8pp0.3%below the sector's middle half▲ 8.3pp-14.3%below the sector's middle half▼ 14.6pp-53.0%below the sector's middle half▼ 38.7pp
Current ratio1.14-1.11within the sector's middle half▼ 0.041.13within the sector's middle half▲ 0.021.12within the sector's middle half▼ 0.010.59below the sector's middle half▼ 0.54
Return on assets (ROA)-21.1%-2.1%within the sector's middle half▲ 23.2pp6.9%within the sector's middle half▲ 4.7pp-14.6%below the sector's middle half▼ 21.4pp-38.6%below the sector's middle half▼ 24.1pp
Staff (FTE)2.4-1.7within the sector's middle half▼ 29.2%1.6below the sector's middle half▼ 5.9%1.5below the sector's middle half▼ 6.3%1.4below the sector's middle half▼ 6.7%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 2023 is a loss of €89,719, larger than the loss of €32,201 in 2022. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €259,612
Fixed assets
€75,156 ▲ 86.7%
Current assets
€184,456 ▼ 16.1%
Equity and liabilities
Equity-€137,545
Debt€397,157
Equity is negative. Debt (€397,157) exceeds the balance-sheet total (€259,612).
Key figures and ratios
EBITDA
-€80,736▼
2022 · -€30,584
Cash flow
-€91,336▼
2022 · -€36,268
Quick ratio
0.07▼
2022 · 0.12
Interest coverage
-7.64▼
2022 · -5.50
Debt ≤ 1 year
€315,284▲
2022 · €195,826
Debt > 1 year
€81,222▼
2022 · €101,404
Income taxes
€120=
2022 · €120
Staff costs
€49,728▲
2022 · €43,131
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 3 | 2 |
| full-time | 1 | 2 | 1 |
| part-time | - | 1 | 1 |
| in full-time equivalents | 1 | 2.2 | 1.2 |
| Average over the year, in full-time equivalents | 1.6 | 1.5 | 1.4 |
| On a permanent contract | 1 | 2 | 1 |
| Joined | 3 | 2 | 1 |
| Left | 4 | 0 | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | €33,828 | €43,885 |
| Depreciation and write-downs of the year | €5,186 | €1,617 | €8,983 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €43,287 | €43,131 | €49,728 | ▲ 15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,185 | €5,185 | €5,186 | €1,617 | €8,983 | ▲ 456% |
| Other operating charges640/8 | - | - | €1,012 | €7,692 | €627 | ▼ 91.8% |
| Gross operating margin9900 | €28,510 | €64,285 | €69,288 | €20,239 | -€30,381 | - |
| Operating profit (loss)9901 | -€32,623 | €8,501 | €19,804 | -€32,201 | -€89,719 | ▼ 179% |
| Financial income75/76B | - | - | €7 | - | €89 | - |
| Recurring financial income75 | €64 | €0 | €7 | - | €89 | - |
| Financial charges65/66B | - | - | €3,778 | €5,564 | €10,570 | ▲ 90.0% |
| Recurring financial charges65 | €5,253 | €4,311 | €3,778 | €5,564 | €10,570 | ▲ 90.0% |
| Profit (loss) for the period before taxes9903 | -€37,812 | €4,190 | €16,033 | -€37,765 | -€100,200 | ▼ 165% |
| Income taxes67/77 | €109 | €109 | €117 | €120 | €120 | = |
| Profit (loss) for the period9904 | -€37,921 | €4,081 | €15,916 | -€37,885 | -€100,319 | ▼ 165% |
| Profit (loss) for the period to be appropriated9905 | -€37,921 | €4,081 | €15,916 | -€37,885 | -€100,319 | ▼ 165% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €180,044 | €191,350 | €231,658 | €260,005 | €259,612 | ▼ 0.2% |
| Fixed assets21/28 | €18,414 | €13,229 | €8,043 | €40,254 | €75,156 | ▲ 86.7% |
| Intangible fixed assets21 | €800 | €600 | €400 | €200 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €17,614 | €12,629 | €7,643 | €40,054 | €75,156 | ▲ 87.6% |
| Land and buildings22 | - | - | €3,331 | €2,855 | €2,380 | ▼ 16.7% |
| Furniture and vehicles24 | - | - | - | €1,167 | €1,127 | ▼ 3.5% |
| Other tangible fixed assets26 | - | - | €4,311 | €36,031 | €71,650 | ▲ 98.9% |
| Current assets29/58 | €161,630 | €178,121 | €223,615 | €219,750 | €184,456 | ▼ 16.1% |
| Stocks and contracts in progress3 | €147,215 | €166,332 | €206,392 | €197,051 | €160,898 | ▼ 18.3% |
| Stocks30/36 | - | - | €206,392 | €197,051 | €160,898 | ▼ 18.3% |
| Amounts receivable within one year40/41 | €1,660 | €210 | €1,015 | €2,371 | €7,212 | ▲ 204% |
| Trade receivables40 | - | - | - | €15 | €5,103 | ▲ 333× |
| Other amounts receivable41 | - | - | €1,015 | €2,356 | €2,109 | ▼ 10.5% |
| Cash at bank and in hand54/58 | €11,814 | €11,065 | €15,042 | €19,708 | €14,327 | ▼ 27.3% |
| Deferred charges and accrued income490/1 | - | - | €1,167 | €620 | €2,019 | ▲ 226% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €180,044 | €191,350 | €231,658 | €260,005 | €259,612 | ▼ 0.2% |
| Equity10/15 | -€19,338 | -€15,257 | €659 | -€37,226 | -€137,545 | ▼ 269% |
| Contributions10/11 | €18,583 | - | €18,583 | €18,583 | €18,583 | = |
| Profit (loss) carried forward14 | -€37,921 | -€33,840 | -€17,924 | -€55,808 | -€156,128 | ▼ 180% |
| Amounts payable17/49 | €199,383 | €206,608 | €230,999 | €297,230 | €397,157 | ▲ 33.6% |
| Amounts payable after more than one year17 | €57,781 | €45,833 | €33,611 | €101,404 | €81,222 | ▼ 19.9% |
| Financial debts170/4 | - | - | €33,611 | €101,404 | €81,222 | ▼ 19.9% |
| Amounts payable within one year42/48 | €141,297 | €160,775 | €197,388 | €195,826 | €315,284 | ▲ 61.0% |
| Current portion of amounts payable after more than one year42 | - | - | €12,222 | €21,014 | €21,833 | ▲ 3.9% |
| Financial debts43 | - | - | €24,972 | €24,972 | €45,227 | ▲ 81.1% |
| Credit institutions430/8 | - | - | €24,972 | €24,972 | €45,227 | ▲ 81.1% |
| Trade debts44 | €81,145 | €46,589 | €56,765 | €9,640 | €64,187 | ▲ 566% |
| Suppliers440/4 | - | - | €56,765 | €9,640 | €64,187 | ▲ 566% |
| Taxes, remuneration and social security45 | - | - | €40,202 | €33,182 | €56,126 | ▲ 69.1% |
| Taxes450/3 | - | - | €31,082 | €27,508 | €45,915 | ▲ 66.9% |
| Remuneration and social security454/9 | - | - | €9,120 | €5,674 | €10,211 | ▲ 80.0% |
| Other amounts payable47/48 | - | - | €63,226 | €107,018 | €127,911 | ▲ 19.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €652 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€37,921 | €4,081 | €15,916 | -€37,885 | -€100,319 | ▼ 165% |
| + Depreciation and write-downs630 | €5,185 | €5,185 | €5,186 | €1,617 | €8,983 | ▲ 456% |
| Operating cash flow (approximation) | -€32,736 | €9,266 | €21,102 | -€36,268 | -€91,336 | ▼ 152% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€33,828 | -€43,885 | ▼ 29.7% |
| Change in cash | - | -€750 | €3,977 | €4,666 | -€5,381 | - |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 27-08-2025 | 2025-00445081 | |
| 31-12-2022 | abbreviated format | 05-03-2024 | 2024-00041094 | |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20407303 | |
| 31-12-2020 | abbreviated format | 27-08-2021 | 2021-59000350 | |
| 31-12-2019 | abbreviated format | 30-10-2020 | 2020-68100144 |