Financials · financial year 2017, abbreviated format
2018 annual accounts not yet filed, deadline passed on 31 July 2019 The financial year closed on 31 December 2018. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 8 financial years without a filing since the last one filed. Source: NBB filings, as of 5 November 2026.
Annual accounts 2017 filed on 30-08-2018 PDF all 12 filings
Turnover
≈ €2.3m
Estimated: probably between €1.4m and €3.9m
Total assets
€832,518▼ 8.3%
2016 · €907,634
Net result
-€74,470▼ 377%
2016 · -€15,596
Working capital
€427,537▼ 16.1%
2016 · €509,828
Multi-year overview
2013 to 2017, 5 financial yearsOperating result
-€71,204
▼ 418%
2017
20132017
Net result
-€74,470
▼ 377%
2017
20132017
Equity
€653,208
▼ 10.2%
2017
20132017
Total assets
€832,518
▼ 8.3%
2017
20132017
Debt
€169,352
▲ 0.5%
2017
20132017
Working capital
€427,537
▼ 16.1%
2017
20132017
Staff (FTE)
33.2
▼ 5.4%
2017
20132017
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20132014201520162017
Operating result-€1,756-€13,590-€15,743-€13,739▲ 12.7%-€71,204▼ 418%
Net result€9,058-€18,583▲ 105%-€12,477-€15,596▼ 25.0%-€74,470▼ 377%
Equity€637,623-€656,206▲ 2.9%€643,729▼ 1.9%€727,678▲ 13.0%€653,208▼ 10.2%
Total assets€977,236-€972,513▼ 0.5%€946,839▼ 2.6%€907,634▼ 4.1%€832,518▼ 8.3%
Debt€229,921-€202,113▼ 12.1%€191,492▼ 5.3%€168,444▼ 12.0%€169,352▲ 0.5%
Working capital€539,379-€548,586▲ 1.7%€532,418▼ 2.9%€509,828▼ 4.2%€427,537▼ 16.1%
Staff (FTE)39.8-39.2▼ 1.5%37.7▼ 3.8%35.1▼ 6.9%33.2▼ 5.4%
The operating result for 2017 is a loss of €71,204, larger than the loss of €13,739 in 2016. It is the lowest result since 2013.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2017 in colour, 2016 as the grey bar beneath
Assets €832,518
Fixed assets
€278,461 ▼ 3.9%
Current assets
€554,057 ▼ 10.3%
Equity and liabilities €832,518
Equity
€653,208 ▼ 10.2%
Provisions
€9,957 ▼ 13.5%
Debt
€169,352 ▲ 0.5%
Debt's share of the balance-sheet total rises from 18.6% to 20.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€59,844▼
2016 · -€2,379
Cash flow
-€63,109▼
2016 · -€4,236
Current ratio
4.38▼
2016 · 5.72
Quick ratio
4.38▼
2016 · 5.72
Debt to equity
0.06▼
2016 · 0.07
ROE
-11.4%▼
2016 · -2.1%
ROA
-8.9%▼
2016 · -1.7%
Debt ≤ 1 year
€126,520▲
2016 · €107,984
Debt > 1 year
€38,381▼
2016 · €54,509
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2013 | 2014 | 2015 | 2016 | 2017 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Gross operating margin9900 | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | ▼ 0.9% |
| Operating profit (loss)9901 | -€0.002m | €0.01m | -€0.02m | -€0.01m | -€0.07m | ▼ 418% |
| Recurring financial income75 | €0.004m | €0.003m | €0.003m | €0.001m | €0.001m | ▼ 17.8% |
| Recurring financial charges65 | €0.004m | €0.004m | €0.003m | €0.003m | €0.002m | ▼ 20.4% |
| Profit (loss) for the period before taxes9903 | -€0.002m | €0.01m | -€0.02m | -€0.02m | -€0.07m | ▼ 358% |
| Profit (loss) for the period9904 | €0.009m | €0.02m | -€0.01m | -€0.02m | -€0.07m | ▼ 377% |
| Profit (loss) for the period to be appropriated9905 | €0.009m | €0.02m | -€0.01m | -€0.02m | -€0.07m | ▼ 377% |
| Line | 2013 | 2014 | 2015 | 2016 | 2017 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €977,236 | €972,513 | €946,839 | €907,634 | €832,518 | ▼ 8.3% |
| Fixed assets21/28 | €318,412 | €306,963 | €300,539 | €289,821 | €278,461 | ▼ 3.9% |
| Tangible fixed assets22/27 | €318,412 | €306,963 | €300,539 | €289,821 | €278,461 | ▼ 3.9% |
| Current assets29/58 | €658,824 | €665,551 | €646,300 | €617,812 | €554,057 | ▼ 10.3% |
| Stocks and contracts in progress3 | €701 | €434 | €837 | €236 | €6 | ▼ 97.4% |
| Amounts receivable within one year40/41 | €112,482 | €90,657 | €97,484 | €162,447 | €74,124 | ▼ 54.4% |
| Current investments50/53 | €165,926 | €168,415 | €169,074 | €169,581 | €170,090 | ▲ 0.3% |
| Cash at bank and in hand54/58 | €379,715 | €406,045 | €378,904 | €285,548 | €309,837 | ▲ 8.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €977,236 | €972,513 | €946,839 | €907,634 | €832,518 | ▼ 8.3% |
| Equity10/15 | €637,623 | €656,206 | €643,729 | €727,678 | €653,208 | ▼ 10.2% |
| Profit (loss) carried forward14 | €9,058 | €27,641 | €15,164 | -€433 | -€74,902 | ▼ 17,204% |
| Provisions and deferred taxes16 | €109,692 | €114,194 | €111,618 | €11,511 | €9,957 | ▼ 13.5% |
| Amounts payable17/49 | €229,921 | €202,113 | €191,492 | €168,444 | €169,352 | ▲ 0.5% |
| Amounts payable after more than one year17 | €99,695 | €85,148 | €70,092 | €54,509 | €38,381 | ▼ 29.6% |
| Amounts payable within one year42/48 | €119,445 | €116,965 | €113,882 | €107,984 | €126,520 | ▲ 17.2% |
| Trade debts44 | €19,766 | €11,893 | €18,838 | €12,960 | €38,548 | ▲ 197% |
| Line | 2013 | 2014 | 2015 | 2016 | 2017 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,058 | €18,583 | -€12,477 | -€15,596 | -€74,470 | ▼ 377% |
| + Depreciation and write-downs630 | €20,992 | €11,449 | €11,239 | €11,360 | €11,361 | = |
| Operating cash flow (approximation) | €30,050 | €30,032 | -€1,238 | -€4,236 | -€63,109 | ▼ 1,390% |
| Investment in fixed assets (approximation) | - | €0 | -€4,816 | -€643 | €0 | - |
| Change in cash | - | €26,330 | -€27,140 | -€93,356 | €24,289 | - |
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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-56400128 | |
| 31-12-2016 | abbreviated format | 24-05-2017 | 2017-13400435 | |
| 31-12-2015 | abbreviated format | 23-03-2016 | 2016-07400115 | |
| 31-12-2014 | abbreviated format | 18-06-2015 | 2015-18700322 | |
| 31-12-2013 | abbreviated format | 07-04-2014 | 2014-08700434 | |
| 31-12-2012 | abbreviated format | 05-07-2013 | 2013-27500558 | |
| 31-12-2011 | abbreviated format | 21-06-2012 | 2012-20700237 | |
| 31-12-2010 | abbreviated format | 30-05-2011 | 2011-14300518 | |
| 31-12-2009 | abbreviated format | 07-08-2010 | 2010-39900258 | |
| 31-12-2008 | abbreviated format | 24-07-2009 | 2009-48700119 |