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InactiveFinancials · financial year 2020, full format
2020 annual accounts filed 20 days after the deadline Filed on 20 August 2021, deadline 31 July 2021 (7 months after the close on 31 December 2020, Companies Code art. 3:10). Source: NBB, 2021-50800535.
Annual accounts 2020 filed on 20-08-2021 PDF all 44 filings
Turnover
€1.7m▼ 50.1%
2019 · €3.4m
EBIT margin
-10.7%▼ 20.2pp
2019 · 9.5%
Net result
-€210,052
2019 · €257,581
Working capital
€3.5m▼ 10.5%
2019 · €3.9m
Multi-year overview
2018 to 2020, 3 financial yearsTurnover
€1.7m
▼ 50.1%
2020
20182020
Operating result
-€184,543
2020
20182020
Net result
-€210,052
2020
20182020
EBIT margin
-10.7%
▼ 20.2pp
2020
20182020
Equity
€5.6m
▼ 3.6%
2020
20182020
Total assets
€5.8m
▼ 5.7%
2020
20182020
Debt
€256,115
▼ 35.4%
2020
20182020
Working capital
€3.5m
▼ 10.5%
2020
20182020
Staff (FTE)
7
▼ 10.3%
2020
20182020
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020
Turnover€3.5m-€3.4m▼ 1.1%€1.7m▼ 50.1%
Operating result€0.7m-€0.3m▼ 53.4%-€0.2m
Net result€0.5m-€0.3m▼ 49.0%-€0.2m
EBIT margin20.2%-9.5%▼ 10.7pp-10.7%▼ 20.2pp
Equity€5.5m-€5.8m▲ 4.6%€5.6m▼ 3.6%
Total assets€5.9m-€6.2m▲ 3.8%€5.8m▼ 5.7%
Debt€0.4m-€0.4m▼ 6.2%€0.3m▼ 35.4%
Working capital€4.0m-€3.9m▼ 2.2%€3.5m▼ 10.5%
Staff (FTE)8.5-7.8▼ 8.2%7▼ 10.3%
The operating result for 2020 is a loss of €184,543, after a profit of €327,140 in 2019. It is the lowest result since 2018.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €5.8m
Fixed assets
€2.1m ▲ 6.2%
Current assets
€3.7m ▼ 11.3%
Equity and liabilities €5.8m
Equity
€5.6m ▼ 3.6%
Debt
€256,115 ▼ 35.4%
Debt's share of the balance-sheet total falls from 6.4% to 4.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€104,345▼
2019 · €553,538
Cash flow
€78,836▼
2019 · €483,979
Current ratio
19.28▲
2019 · 16.45
Debt to equity
0.05▼
2019 · 0.07
ROE
-3.8%▼
2019 · 4.5%
ROA
-3.6%▼
2019 · 4.2%
Interest coverage
41.94▼
2019 · over 100
Debt ≤ 1 year
€192,562▼
2019 · €254,419
Debt > 1 year
€52,941▼
2019 · €66,666
Income taxes
€1▼
2019 · €109,087
Customer credit
24 days▲
2019 · 6 days
Staff costs
€230,206▼
2019 · €495,616
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2019 | 2020 |
|---|---|---|
| Tangible fixed assets | €621,160 | €188,408 |
| Intangible fixed assets | €209,598 | €254,068 |
| Depreciation and write-downs of the year | €226,398 | €288,888 |
Source: notes to the 2019 to 2020 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Operating income70/76A | - | €4.1m | €2.4m | ▼ 41.4% |
| Turnover70 | €3.5m | €3.4m | €1.7m | ▼ 50.1% |
| Other operating income74 | - | €0.6m | €0.6m | ▲ 6.6% |
| Non-recurring operating income76A | - | €0.01m | €0.02m | ▲ 63.9% |
| Operating charges60/66A | - | €3.7m | €2.6m | ▼ 31.3% |
| Services and other goods61 | - | €2.1m | €1.6m | ▼ 23.6% |
| Remuneration, social security and pensions62 | - | €0.5m | €0.2m | ▼ 53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.3m | ▲ 27.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0.1m | €0.09m | ▼ 31.7% |
| Other operating charges640/8 | - | €0.7m | €0.3m | ▼ 59.2% |
| Non-recurring operating charges66A | - | €0.001m | €0.02m | ▲ 17× |
| Operating profit (loss)9901 | €0.7m | €0.3m | -€0.2m | - |
| Recurring financial income75 | €0.03m | €0.05m | €0.06m | ▲ 25.0% |
| Income from current assets751 | - | €0.05m | €0.06m | ▲ 25.0% |
| Financial charges65/66B | - | €0.006m | €0.08m | ▲ 15× |
| Recurring financial charges65 | €0.008m | €0.006m | €0.08m | ▲ 15× |
| Debt charges650 | €0.007m | €0.005m | €0.002m | ▼ 52.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | €0.08m | - |
| Other financial charges652/9 | - | €240 | €83 | ▼ 65.4% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.4m | -€0.2m | - |
| Income taxes67/77 | €0.2m | €0.1m | €1 | ▼ 100.0% |
| Taxes670/3 | - | €0.1m | €1 | ▼ 100.0% |
| Profit (loss) for the period9904 | €0.5m | €0.3m | -€0.2m | - |
| Transfer from tax-exempt reserves789 | - | €0.2m | €0.3m | ▲ 21.0% |
| Transfer to tax-exempt reserves689 | - | - | €0.004m | - |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.5m | €0.06m | ▼ 88.4% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €5.9m | €6.2m | €5.8m | ▼ 5.7% |
| Fixed assets21/28 | €1.5m | €2.0m | €2.1m | ▲ 6.2% |
| Intangible fixed assets21 | €0.2m | €0.3m | €0.5m | ▲ 55.6% |
| Tangible fixed assets22/27 | €1.0m | €1.2m | €1.2m | ▼ 4.4% |
| Land and buildings22 | - | €0.5m | €0.5m | ▼ 3.9% |
| Plant, machinery and equipment23 | - | €0.6m | €0.6m | ▼ 3.8% |
| Furniture and vehicles24 | - | €0.1m | €0.08m | ▼ 32.2% |
| Assets under construction and advance payments27 | - | €0.004m | €0.03m | ▲ 619% |
| Financial fixed assets28 | €0.4m | €0.4m | €0.4m | = |
| Affiliated companies280/1 | - | €0.2m | €0.2m | = |
| Participating interests280 | - | €0.2m | €0.2m | = |
| Companies linked by participating interests282/3 | - | €0.1m | €0.1m | = |
| Participating interests282 | - | €0.1m | €0.1m | = |
| Other financial fixed assets284/8 | - | €0.1m | €0.1m | = |
| Amounts receivable and cash guarantees285/8 | - | €0.1m | €0.1m | = |
| Current assets29/58 | €4.4m | €4.2m | €3.7m | ▼ 11.3% |
| Amounts receivable after more than one year29 | - | €0.3m | €0.4m | ▲ 12.4% |
| Other amounts receivable291 | - | €0.3m | €0.4m | ▲ 12.4% |
| Amounts receivable within one year40/41 | €2.8m | €2.6m | €2.7m | ▲ 1.6% |
| Trade receivables40 | - | €0.06m | €0.1m | ▲ 97.5% |
| Other amounts receivable41 | - | €2.6m | €2.6m | ▼ 0.5% |
| Current investments50/53 | €0.4m | €0.3m | €0.3m | ▼ 20.6% |
| Other investments51/53 | - | €0.3m | €0.3m | ▼ 20.6% |
| Cash at bank and in hand54/58 | €0.3m | €0.4m | €0.3m | ▼ 7.2% |
| Deferred charges and accrued income490/1 | - | €0.5m | €0.06m | ▼ 88.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €5.9m | €6.2m | €5.8m | ▼ 5.7% |
| Equity10/15 | €5.5m | €5.8m | €5.6m | ▼ 3.6% |
| Contributions10/11 | €0.8m | €0.8m | €0.8m | = |
| Capital10 | - | €0.8m | €0.8m | = |
| Issued capital100 | - | €0.8m | €0.8m | = |
| Reserves13 | €2.5m | €2.5m | €2.5m | ▲ 0.2% |
| Non-distributable reserves130/1 | - | - | €0.08m | - |
| Legal reserve130 | - | €0.08m | €0.08m | = |
| Tax-exempt reserves132 | - | €0.6m | €0.4m | ▼ 42.5% |
| Distributable reserves133 | - | €1.8m | €2.1m | ▲ 14.8% |
| Profit (loss) carried forward14 | €2.2m | €2.5m | €2.3m | ▼ 8.7% |
| Amounts payable17/49 | €0.4m | €0.4m | €0.3m | ▼ 35.4% |
| Amounts payable after more than one year17 | €0.05m | €0.07m | €0.05m | ▼ 20.6% |
| Other amounts payable178/9 | - | €0.07m | €0.05m | ▼ 20.6% |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.2m | ▼ 24.3% |
| Trade debts44 | €0.1m | €0.2m | €0.04m | ▼ 74.9% |
| Suppliers440/4 | - | €0.2m | €0.04m | ▼ 74.9% |
| Advances received on contracts in progress46 | - | €0.04m | €0.09m | ▲ 139% |
| Taxes, remuneration and social security45 | - | €0.04m | €0.06m | ▲ 34.3% |
| Taxes450/3 | - | €0.008m | €0.009m | ▲ 17.2% |
| Remuneration and social security454/9 | - | €0.04m | €0.05m | ▲ 38.0% |
| Accrued charges and deferred income492/3 | - | €0.08m | €0.01m | ▼ 86.0% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €505,435 | €257,581 | -€210,052 | - |
| + Depreciation and write-downs630 | €236,071 | €226,398 | €288,888 | ▲ 27.6% |
| Operating cash flow (approximation) | €741,506 | €483,979 | €78,836 | ▼ 83.7% |
| Investment in fixed assets (approximation) | - | -€652,979 | -€410,939 | ▲ 37.1% |
| Change in cash | - | €4,103 | -€25,151 | - |
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 44 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2020 | full format | 20-08-2021 | 2021-50800535 | |
| 31-12-2019 | full format | 20-08-2020 | 2020-43000071 | |
| 31-12-2018 | full format | 26-08-2019 | 2019-51200416 | |
| 31-12-2017 | full format | 13-08-2018 | 2018-45200197 | |
| 31-12-2016 | full format | 19-07-2017 | 2017-33700118 | |
| 31-12-2015 | full format | 23-06-2016 | 2016-20900466 | |
| 31-12-2014 | full format | 10-06-2015 | 2015-16100519 | |
| 31-12-2013 | full format | 04-06-2014 | 2014-15300179 | |
| 31-12-2012 | full format | 05-06-2013 | 2013-15400276 | |
| 31-12-2011 | full format | 07-06-2012 | 2012-15300280 |