LEERMIDDEL
InactiveFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 08-07-2024 PDF all 5 filings
Turnover
≈ €6.6m
Estimated: probably between €4.5m and €11.0m
Total assets
€8.0m▲ 23.3%
2022 · €6.5m
Net result
€1.0m▲ 72.1%
2022 · €586,692
Working capital
-€3.4m▼ 31.1%
2022 · -€2.6m
Multi-year overview
2019 to 2023, 5 financial yearsOperating result
€1.3m
▲ 53.5%
2023
20192023
Net result
€1.0m
▲ 72.1%
2023
20192023
Equity
€2.2m
▲ 87.7%
2023
20192023
Total assets
€8.0m
▲ 23.3%
2023
20192023
Debt
€5.8m
▲ 9.3%
2023
20192023
Working capital
-€3.4m
▼ 31.1%
2023
20192023
Staff (FTE)
no figure
2023
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€0.1m-€0.2m▲ 122%€0.1m▼ 37.3%€0.9m▲ 554%€1.3m▲ 53.5%
Net result€0.04m-€0.1m▲ 187%€0.05m▼ 53.0%€0.6m▲ 12×€1.0m▲ 72.1%
Equity€0.4m-€0.5m▲ 26.4%€0.6m▲ 9.8%€1.2m▲ 104%€2.2m▲ 87.7%
Total assets€3.5m-€5.4m▲ 52.7%€5.6m▲ 4.4%€6.5m▲ 15.3%€8.0m▲ 23.3%
Debt€3.1m-€4.8m▲ 56.2%€5.0m▲ 3.9%€5.3m▲ 5.3%€5.8m▲ 9.3%
Working capital€0.9m--€1.1m-€1.7m▼ 55.2%-€2.6m▼ 54.2%-€3.4m▼ 31.1%
Staff (FTE)2.7-4▲ 48.1%3▼ 25.0%1.5▼ 50.0%
The operating result for 2023 is 53% higher than in 2022 and the highest since 2019. It is the second rise in a row, after the fall in 2021.
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
2023 in colour, 2022 as the grey bar beneath
Assets €8.0m
Fixed assets
€5.6m ▲ 37.9%
Current assets
€2.3m ▼ 1.6%
Equity and liabilities €8.0m
Equity
€2.2m ▲ 87.7%
Debt
€5.8m ▲ 9.3%
Debt's share of the balance-sheet total falls from 82.2% to 72.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3.8m▲
2022 · €3.0m
Cash flow
€3.5m▲
2022 · €2.7m
Current ratio
0.40▼
2022 · 0.48
Debt to equity
2.68▼
2022 · 4.61
ROE
46.7%▼
2022 · 51.0%
ROA
12.7%▲
2022 · 9.1%
Interest coverage
97.27▲
2022 · 31.57
Debt ≤ 1 year
€5.8m▲
2022 · €5.0m
Income taxes
€385,923▲
2022 · €195,751
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 |
|---|---|---|
| Employees at the balance-sheet date | 3 | - |
| full-time | 3 | - |
| in full-time equivalents | 3 | - |
| Average over the year, in full-time equivalents | 3 | 1.5 |
| On a permanent contract | 3 | - |
| Joined | 2 | 0 |
| Left | 3 | 3 |
| Training hours | 8 | - |
Source: social balance sheet in the 2021 to 2022 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Debts secured on the company's own assets | €2.6m | - | - |
| Pledge on the business | €2.8m | - | - |
Source: notes to the 2021 to 2023 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €2.1m | €2.9m | €4.0m |
| Depreciation and write-downs of the year | €1.9m | €2.2m | €2.5m |
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 | - | - | €0.2m | €0.03m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €1.1m | €1.9m | €2.2m | €2.5m | ▲ 15.3% |
| Other operating charges640/8 | - | - | €270 | €272 | €207 | ▼ 23.9% |
| Gross operating margin9900 | €0.7m | €1.6m | €2.2m | €3.1m | €3.8m | ▲ 24.9% |
| Operating profit (loss)9901 | €0.1m | €0.2m | €0.1m | €0.9m | €1.3m | ▲ 53.5% |
| Financial income75/76B | - | - | - | €0.006m | €0.1m | ▲ 16× |
| Recurring financial income75 | €154 | €0.002m | - | €0.006m | €0.1m | ▲ 16× |
| Financial charges65/66B | - | - | €0.06m | €0.1m | €0.04m | ▼ 59.0% |
| Recurring financial charges65 | €0.04m | €0.07m | €0.06m | €0.1m | €0.04m | ▼ 59.0% |
| Profit (loss) for the period before taxes9903 | €0.05m | €0.1m | €0.07m | €0.8m | €1.4m | ▲ 78.3% |
| Income taxes67/77 | €0.02m | €0.04m | €0.02m | €0.2m | €0.4m | ▲ 97.1% |
| Profit (loss) for the period9904 | €0.04m | €0.1m | €0.05m | €0.6m | €1.0m | ▲ 72.1% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.1m | €0.05m | €0.6m | €1.0m | ▲ 72.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.5m | €5.4m | €5.6m | €6.5m | €8.0m | ▲ 23.3% |
| Formation expenses20 | €0.005m | €0.003m | €0.002m | €0.001m | - | - |
| Fixed assets21/28 | €2.2m | €3.1m | €3.3m | €4.1m | €5.6m | ▲ 37.9% |
| Tangible fixed assets22/27 | €2.2m | €3.1m | €3.3m | €4.1m | €5.6m | ▲ 37.9% |
| Plant, machinery and equipment23 | - | - | €0.5m | €2.9m | €5.3m | ▲ 80.5% |
| Furniture and vehicles24 | - | - | €45 | - | - | - |
| Leasing and similar rights25 | - | - | €2.7m | €1.1m | €0.3m | ▼ 73.0% |
| Current assets29/58 | €1.3m | €2.2m | €2.3m | €2.4m | €2.3m | ▼ 1.6% |
| Amounts receivable within one year40/41 | €1.1m | €0.4m | €1.4m | €0.3m | €2.3m | ▲ 623% |
| Trade receivables40 | - | - | €0.1m | €0.1m | €0.2m | ▲ 97.5% |
| Other amounts receivable41 | - | - | €1.3m | €0.2m | €2.1m | ▲ 908% |
| Cash at bank and in hand54/58 | €0.2m | €1.8m | €0.9m | €2.1m | €0.04m | ▼ 98.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.5m | €5.4m | €5.6m | €6.5m | €8.0m | ▲ 23.3% |
| Equity10/15 | €0.4m | €0.5m | €0.6m | €1.2m | €2.2m | ▲ 87.7% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | €0.4m | - | - | - |
| Issued capital100 | - | - | €0.4m | - | - | - |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | €0.02m | - | - | - |
| Legal reserve130 | - | - | €0.02m | - | - | - |
| Distributable reserves133 | - | - | - | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.02m | €0.1m | €0.2m | €0.8m | €1.8m | ▲ 133% |
| Amounts payable17/49 | €3.1m | €4.8m | €5.0m | €5.3m | €5.8m | ▲ 9.3% |
| Amounts payable after more than one year17 | €2.8m | €1.5m | €1.0m | €0.3m | - | - |
| Financial debts170/4 | - | - | €1.0m | €0.3m | - | - |
| Amounts payable within one year42/48 | €0.3m | €3.3m | €4.0m | €5.0m | €5.8m | ▲ 15.6% |
| Current portion of amounts payable after more than one year42 | - | - | €1.6m | €0.7m | €0.3m | ▼ 60.2% |
| Trade debts44 | €0.02m | €0.09m | €0.07m | €0.2m | €2.5m | ▲ 997% |
| Suppliers440/4 | - | - | €0.07m | €0.2m | €2.5m | ▲ 997% |
| Advances received on contracts in progress46 | - | - | €1.4m | €1.8m | €2.1m | ▲ 16.4% |
| Taxes, remuneration and social security45 | - | - | €0.8m | €0.2m | €0.6m | ▲ 169% |
| Taxes450/3 | - | - | €0.8m | €0.2m | €0.6m | ▲ 169% |
| Remuneration and social security454/9 | - | - | €0.08m | - | - | - |
| Other amounts payable47/48 | - | - | €0.1m | €2.0m | €0.3m | ▼ 87.0% |
| Accrued charges and deferred income492/3 | - | - | €0.002m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.04m | €0.1m | €0.05m | €0.6m | €1.0m | ▲ 72.1% |
| + Depreciation and write-downs630 | €0.4m | €1.1m | €1.9m | €2.2m | €2.5m | ▲ 15.3% |
| Operating cash flow (approximation) | €0.4m | €1.3m | €1.9m | €2.7m | €3.5m | ▲ 27.5% |
| Investment in fixed assets (approximation) | - | -€2.1m | -€2.0m | -€2.9m | -€4.0m | ▼ 36.9% |
| Change in cash | - | €1.6m | -€0.9m | €1.2m | -€2.0m | - |
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 | 08-07-2024 | 2024-00218736 | |
| 31-12-2022 | abbreviated format | 13-10-2023 | 2023-00484740 | |
| 31-12-2021 | abbreviated format | 18-05-2022 | 2022-20028985 | |
| 31-12-2020 | abbreviated format | 10-05-2021 | 2021-13700298 | |
| 31-12-2019 | abbreviated format | 09-06-2020 | 2020-16000328 |