Immoroc
Open bankruptcyFinancials · financial year 2022, full format, standalone accounts
Annual accounts 2022 filed on 13-07-2023 PDF Consolidated accounts 2022 (PDF) all 66 filings
Turnover
€6.6m▼ 2.2%
2021 · €6.7m
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
-€13.3m
2021 · €1.7m
Working capital
-€74.2m▼ 20.0%
2021 · -€61.8m
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result for 2022 is a loss of €10.3m, after a profit of €5.6m in 2021. It is the lowest result since 2018.
Turnover€6.6m
2022
Operating result-€10.3m
2022
Net result-€13.3m
2022
Total assets€136.4m
2022
Equity€53.6m
2022
Debt€82.8m
2022
Working capital-€74.2m
2022
Return on assets (ROA)-9.8%
2022
Solvency39.3%
2022
Current ratio0.01
2022
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Turnover€6.7m-€6.7m▼ 1.2%€6.7m▲ 0.4%€6.7m▲ 0.9%€6.6m▼ 2.2%
Operating result€6.3m-€5.1m▼ 18.7%€5.2m▲ 3.0%€5.6m▲ 7.6%-€10.3m
Net result€0.4m--€0.4m-€138.5mbelow the sector's middle half▼ 32,450%€1.7mabove the sector's middle half-€13.3mbelow the sector's middle half
Equity€161.3m-€160.9m▼ 0.3%€20.3mabove the sector's middle half▼ 87.4%€66.9mabove the sector's middle half▲ 229%€53.6mabove the sector's middle half▼ 19.9%
Total assets€283.8m-€283.2m▼ 0.2%€143.7mabove the sector's middle half▼ 49.2%€146.0mabove the sector's middle half▲ 1.6%€136.4mabove the sector's middle half▼ 6.6%
Debt€122.5m-€122.3m▼ 0.2%€123.4m▲ 0.9%€79.1m▼ 35.9%€82.8m▲ 4.7%
Working capital-€60.4m--€104.9m▼ 73.8%-€109.4mbelow the sector's middle half▼ 4.3%-€61.8mbelow the sector's middle half▲ 43.5%-€74.2mbelow the sector's middle half▼ 20.0%
Solvency56.8%-56.8%=14.1%within the sector's middle half▼ 42.7pp45.8%within the sector's middle half▲ 31.7pp39.3%within the sector's middle half▼ 6.6pp
Current ratio0.07-0.05▼ 0.020.06below the sector's middle half▲ 0.010.14below the sector's middle half▲ 0.080.01below the sector's middle half▼ 0.12
Return on assets (ROA)0.1%--0.2%▼ 0.3pp-96.3%below the sector's middle half▼ 96.2pp1.2%within the sector's middle half▲ 97.5pp-9.8%below the sector's middle half▼ 10.9pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €136.4m
Fixed assets
€135.3m ▼ 0.6%
Current assets
€1.1m ▼ 88.8%
Equity and liabilities €136.4m
Equity
€53.6m ▼ 19.9%
Debt
€82.8m ▲ 4.7%
Debt's share of the balance-sheet total rises from 54.2% to 60.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€9.5m▼
2021 · €6.5m
Cash flow
-€12.6m▼
2021 · €2.6m
Debt to equity
1.55▲
2021 · 1.18
ROE
-24.9%▼
2021 · 2.5%
Interest coverage
-3.11▼
2021 · 2.14
Debt ≤ 1 year
€75.3m▲
2021 · €71.8m
Debt > 1 year
€5.0m=
2021 · €5.0m
Customer credit
2 days▼
2021 · 491 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 |
|---|---|---|
| Mortgages, amount registered | €67.2m | €67.2m |
| Carrying value of the mortgaged assets | €9.0m | €8.2m |
| Pledge on other assets, amount secured | €5.0m | €5.0m |
| Carrying value of the other pledged assets | €5.0m | €5.0m |
Source: notes to the 2021 to 2022 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Auditor
The auditor is Ernst et Young Reviseurs d'Entreprises.
| Item | 2021 | 2022 |
|---|---|---|
| Fee for the audit | €11,015 | €13,000 |
| Other work by the auditor | €19,000 | - |
Source: notes to the 2021 to 2022 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €7.2m | €6.7m | ▼ 6.2% |
| Turnover70 | €6.7m | €6.7m | €6.7m | €6.7m | €6.6m | ▼ 2.2% |
| Non-recurring operating income76A | - | - | - | €0.4m | €0.1m | ▼ 67.7% |
| Operating charges60/66A | - | - | - | €1.6m | €17.0m | ▲ 994% |
| Services and other goods61 | - | - | - | €0.3m | €0.3m | ▲ 6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.0m | €1.0m | €1.0m | €0.9m | €0.8m | ▼ 13.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.02m | -€0.01m | ▲ 38.9% |
| Other operating charges640/8 | - | - | - | €0.4m | €0.5m | ▲ 3.4% |
| Non-recurring operating charges66A | - | - | - | - | €15.5m | - |
| Operating profit (loss)9901 | €6.3m | €5.1m | €5.2m | €5.6m | -€10.3m | - |
| Recurring financial income75 | - | €287 | €190 | - | - | - |
| Financial charges65/66B | - | - | - | €3.0m | €3.1m | ▲ 1.0% |
| Recurring financial charges65 | €5.3m | €5.3m | €5.3m | €3.0m | €3.1m | ▲ 1.0% |
| Debt charges650 | €5.3m | €5.3m | €5.3m | €3.0m | €3.1m | ▲ 1.0% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | ▼ 8.0% |
| Profit (loss) for the period before taxes9903 | €1.0m | -€0.2m | -€138.2m | €2.6m | -€13.3m | - |
| Income taxes67/77 | €0.6m | €0.2m | €0.2m | €0.9m | - | - |
| Taxes670/3 | - | - | - | €0.9m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €399 | - | - |
| Profit (loss) for the period9904 | €0.4m | -€0.4m | -€138.5m | €1.7m | -€13.3m | - |
| Profit (loss) for the period to be appropriated9905 | €1.1m | -€0.4m | -€138.5m | €1.7m | -€13.3m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €283.8m | €283.2m | €143.7m | €146.0m | €136.4m | ▼ 6.6% |
| Fixed assets21/28 | €279.4m | €278.2m | €137.0m | €136.0m | €135.3m | ▼ 0.6% |
| Tangible fixed assets22/27 | €12.6m | €11.5m | €10.5m | €9.6m | €8.8m | ▼ 7.9% |
| Land and buildings22 | - | - | - | €9.3m | €8.6m | ▼ 8.1% |
| Other tangible fixed assets26 | - | - | - | €0.3m | €0.3m | = |
| Financial fixed assets28 | €266.7m | €266.7m | €126.5m | €126.5m | €126.5m | = |
| Affiliated companies280/1 | - | - | - | €126.5m | €126.5m | = |
| Participating interests280 | - | - | - | €126.5m | €126.5m | = |
| Other financial fixed assets284/8 | - | - | - | €1 | €1 | = |
| Shares284 | - | - | - | €1 | €1 | = |
| Current assets29/58 | €4.5m | €5.0m | €6.8m | €10.0m | €1.1m | ▼ 88.8% |
| Amounts receivable within one year40/41 | €3.6m | €3.5m | €6.2m | €9.1m | €0.04m | ▼ 99.5% |
| Trade receivables40 | - | - | - | €9.1m | €0.04m | ▼ 99.5% |
| Cash at bank and in hand54/58 | €0.7m | €1.4m | €0.5m | €0.9m | €1.1m | ▲ 25.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €283.8m | €283.2m | €143.7m | €146.0m | €136.4m | ▼ 6.6% |
| Equity10/15 | €161.3m | €160.9m | €20.3m | €66.9m | €53.6m | ▼ 19.9% |
| Contributions10/11 | €48.7m | €48.7m | €48.7m | €93.6m | €93.6m | = |
| Capital10 | - | - | - | €69.9m | €69.9m | = |
| Issued capital100 | - | - | - | €69.9m | €69.9m | = |
| Contributions outside capital11 | - | - | - | €23.7m | €23.7m | = |
| Share premium1100/10 | - | - | - | €23.7m | €23.7m | = |
| Revaluation surpluses12 | - | - | - | €19.7m | €19.7m | = |
| Reserves13 | €95.3m | €95.3m | €95.3m | €95.3m | €95.3m | = |
| Non-distributable reserves130/1 | - | - | - | €5.3m | €5.3m | = |
| Legal reserve130 | - | - | - | €4.9m | €4.9m | = |
| Other1319 | - | - | - | €0.5m | €0.5m | = |
| Tax-exempt reserves132 | - | - | - | €1.8m | €1.8m | = |
| Distributable reserves133 | - | - | - | €88.2m | €88.2m | = |
| Profit (loss) carried forward14 | -€4.5m | -€4.9m | -€143.4m | -€141.7m | -€155.0m | ▼ 9.4% |
| Amounts payable17/49 | €122.5m | €122.3m | €123.4m | €79.1m | €82.8m | ▲ 4.7% |
| Amounts payable after more than one year17 | €57.7m | €12.4m | €5.0m | €5.0m | €5.0m | = |
| Financial debts170/4 | - | - | - | €5.0m | €5.0m | = |
| Other loans174 | - | - | - | €5.0m | €5.0m | = |
| Amounts payable within one year42/48 | €64.8m | €109.8m | €116.1m | €71.8m | €75.3m | ▲ 4.9% |
| Trade debts44 | €0.01m | €0.02m | €0.02m | €0.02m | €0.06m | ▲ 222% |
| Suppliers440/4 | - | - | - | €0.02m | €0.06m | ▲ 222% |
| Taxes, remuneration and social security45 | - | - | - | €0.9m | €0.005m | ▼ 99.5% |
| Taxes450/3 | - | - | - | €0.9m | €0.002m | ▼ 99.8% |
| Remuneration and social security454/9 | - | - | - | €0.003m | €0.003m | = |
| Other amounts payable47/48 | - | - | - | €70.9m | €75.3m | ▲ 6.2% |
| Accrued charges and deferred income492/3 | - | - | - | €2.3m | €2.5m | ▲ 8.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | -€0.4m | -€138.5m | €1.7m | -€13.3m | - |
| + Depreciation and write-downs630 | €1.0m | €1.0m | €1.0m | €0.9m | €0.8m | ▼ 13.2% |
| Operating cash flow (approximation) | €1.4m | €0.6m | -€137.5m | €2.6m | -€12.6m | - |
| Investment in fixed assets (approximation) | - | €0.2m | €140.3m | €0.07m | €0 | ▼ 100% |
| Change in cash | - | €0.7m | -€0.9m | €0.3m | €0.2m | ▼ 36.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 66 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | consolidated | 17-07-2023 | 2023-00247252 | |
| 31-12-2022 | full format | 13-07-2023 | 2023-00246862 | |
| 31-12-2021 | full format | 07-07-2022 | 2022-20187196 | |
| 31-12-2021 | consolidated | 07-07-2022 | 2022-20186528 | |
| 31-12-2020 | consolidated | 02-07-2021 | 2021-32900498 | |
| 31-12-2020 | full format | 02-07-2021 | 2021-32900442 | |
| 31-12-2019 | full format | 08-07-2020 | 2020-29800502 | |
| 31-12-2019 | consolidated | 08-07-2020 | 2020-29800518 | |
| 31-12-2018 | full format | 27-06-2019 | 2019-28100050 | |
| 31-12-2018 | consolidated | 27-06-2019 | 2019-28100290 |