HITS
InactiveInactive; last annual accounts for fiscal year 2021.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline27-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 02-08-2022, 2 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
2 d late
2020
194 d late
2019
161 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 119 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2021, full schema
Turnover
€426,646▼ 30.8%
2020 · €616,691
EBIT margin
-15.0%▼ 14.4pp
2020 · -0.6%
Net result
-€78,854▼ 306%
2020 · -€19,432
Working capital
-€155,129▼ 75.2%
2020 · -€88,555
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Turnover€939,765-€794,704▼ 15.4%€616,691▼ 22.4%€426,646▼ 30.8%
Operating result€15,877--€146,264-€3,951▲ 97.3%-€64,029▼ 1,520%
Net result€8,210--€157,418-€19,432▲ 87.7%-€78,854▼ 306%
EBIT margin1.7%--18.4%▼ 20.1pp-0.6%▲ 17.8pp-15.0%▼ 14.4pp
Equity€183,612-€26,195▼ 85.7%€6,763▼ 74.2%-€72,091
Total assets€472,491-€273,517▼ 42.1%€274,789▲ 0.5%€202,645▼ 26.3%
Debt€288,879-€247,322▼ 14.4%€268,026▲ 8.4%€274,735▲ 2.5%
Working capital€79,680--€75,826-€88,555▼ 16.8%-€155,129▼ 75.2%
Staff (FTE)0.4-1.3▲ 225%1▼ 23.1%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €64,029 in 2021 against €3,951 in 2020; the loss grows.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €202,645
Fixed assets
€83,038 ▼ 17.4%
Current assets
€119,606 ▼ 31.4%
Key figures and ratios
EBITDA
-€40,751▼
2020 · €18,188
Cash flow
-€55,575▼
2020 · €2,708
Solvency
-35.6%▼
2020 · 2.5%
Current ratio
0.44▼
2020 · 0.66
Quick ratio
0.05▼
2020 · 0.12
Debt to equity
-3.81▼
2020 · 0.75
ROA
-38.9%▼
2020 · -7.1%
Interest coverage
-2.79
Debt ≤ 1 year
€274,735▲
2020 · €262,791
Income taxes
€227▲
2020 · -€160
Staff costs
€10,132
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 | Change |
|---|---|---|---|---|---|
| Turnover70 | €939,765 | €794,704 | €616,691 | €426,646 | ▼ 30.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €450,891 | - |
| Remuneration, social security and pensions62 | - | - | - | €10,132 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,455 | €21,609 | €22,140 | €23,278 | ▲ 5.1% |
| Other operating charges640/8 | - | - | - | €6,374 | - |
| Gross operating margin9900 | €67,012 | -€65,713 | €48,625 | -€24,245 | ▼ 150% |
| Operating profit (loss)9901 | €15,877 | -€146,264 | -€3,951 | -€64,029 | ▼ 1,520% |
| Financial income75/76B | - | - | - | €5 | - |
| Recurring financial income75 | €3,563 | €862 | €617 | €5 | ▼ 99.2% |
| Financial charges65/66B | - | - | - | €14,602 | - |
| Recurring financial charges65 | €8,097 | €11,728 | €16,257 | €14,602 | ▼ 10.2% |
| Profit (loss) for the period before taxes9903 | €11,342 | -€157,129 | -€19,592 | -€78,627 | ▼ 301% |
| Income taxes67/77 | €3,132 | €288 | -€160 | €227 | ▲ 242% |
| Profit (loss) for the period9904 | €8,210 | -€157,418 | -€19,432 | -€78,854 | ▼ 306% |
| Profit (loss) for the period to be appropriated9905 | €8,210 | -€157,418 | -€19,432 | -€78,854 | ▼ 306% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €472,491 | €273,517 | €274,789 | €202,645 | ▼ 26.3% |
| Fixed assets21/28 | €123,368 | €110,475 | €100,553 | €83,038 | ▼ 17.4% |
| Intangible fixed assets21 | €17,828 | €15,281 | €12,734 | €10,187 | ▼ 20.0% |
| Tangible fixed assets22/27 | €105,381 | €94,914 | €87,299 | €72,692 | ▼ 16.7% |
| Land and buildings22 | - | - | - | €63,741 | - |
| Plant, machinery and equipment23 | - | - | - | €4,240 | - |
| Furniture and vehicles24 | - | - | - | €4,711 | - |
| Financial fixed assets28 | €159 | €279 | €519 | €159 | ▼ 69.4% |
| Current assets29/58 | €349,123 | €163,042 | €174,236 | €119,606 | ▼ 31.4% |
| Stocks and contracts in progress3 | €225,856 | €146,704 | €143,845 | €104,928 | ▼ 27.1% |
| Stocks30/36 | - | - | - | €104,928 | - |
| Amounts receivable within one year40/41 | €50,150 | €5,018 | €12,557 | €11,636 | ▼ 7.3% |
| Trade receivables40 | - | - | - | €7,659 | - |
| Other amounts receivable41 | - | - | - | €3,978 | - |
| Cash at bank and in hand54/58 | €71,063 | €6,698 | €16,447 | €281 | ▼ 98.3% |
| Deferred charges and accrued income490/1 | - | - | - | €2,761 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €472,491 | €273,517 | €274,789 | €202,645 | ▼ 26.3% |
| Equity10/15 | €183,612 | €26,195 | €6,763 | -€72,091 | ▼ 1,166% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | - |
| Reserves13 | €164,101 | €7,101 | €7,101 | €7,101 | = |
| Non-distributable reserves130/1 | - | - | - | €7,101 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Other1319 | - | - | - | €5,241 | - |
| Profit (loss) carried forward14 | €911 | €493 | -€18,939 | -€97,792 | ▼ 416% |
| Amounts payable17/49 | €288,879 | €247,322 | €268,026 | €274,735 | ▲ 2.5% |
| Amounts payable after more than one year17 | €19,436 | €8,454 | €5,094 | - | - |
| Amounts payable within one year42/48 | €269,443 | €238,868 | €262,791 | €274,735 | ▲ 4.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,403 | - |
| Financial debts43 | - | - | - | €200,127 | - |
| Credit institutions430/8 | - | - | - | €200,127 | - |
| Trade debts44 | €80,264 | €29,598 | €27,835 | €35,709 | ▲ 28.3% |
| Suppliers440/4 | - | - | - | €35,709 | - |
| Taxes, remuneration and social security45 | - | - | - | €17,921 | - |
| Taxes450/3 | - | - | - | €10,566 | - |
| Remuneration and social security454/9 | - | - | - | €7,355 | - |
| Other amounts payable47/48 | - | - | - | €17,576 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,210 | -€157,418 | -€19,432 | -€78,854 | ▼ 306% |
| + Depreciation and write-downs630 | €21,455 | €21,609 | €22,140 | €23,278 | ▲ 5.1% |
| Operating cash flow (approximation) | €29,665 | -€135,809 | €2,708 | -€55,575 | ▼ 2,153% |
| Investment in fixed assets (approximation) | - | -€8,716 | -€12,217 | -€5,764 | ▲ 52.8% |
| Change in cash | - | -€64,365 | €9,748 | -€16,166 | ▼ 266% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2022
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
10-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 194 days late
2021
08-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 161 days late
2019
31-12
Financial
Weakest financial yearnet -€157,418
Net result drops to -€157,418, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
11-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 31 days late
2014
03-10
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 64 days late
2013
17-08
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Owners and holdings
1 ownerChain of control
- GL ELECTRO
- HITS
Highest known parent: GL ELECTRO. The sources do not say who stands above it.
Owners 1
- GL ELECTROparentSourceaccounts GL ELECTRO 2021100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.