LEVAN
InactiveFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 19-07-2024 PDF all 6 filings
Turnover
≈ €2.3m
Estimated: probably between €1.6m and €3.8m
Total assets
€2.1m▲ 30.4%
2022 · €1.6m
Net result
€302,191▲ 90.0%
2022 · €159,028
Working capital
€1.4m▲ 12.7%
2022 · €1.3m
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
€384,319
▲ 81.2%
2023
20182023
Net result
€302,191
▲ 90.0%
2023
20182023
Equity
€1.7m
▲ 21.4%
2023
20182023
Total assets
€2.1m
▲ 30.4%
2023
20182023
Debt
€394,849
▲ 92.8%
2023
20182023
Working capital
€1.4m
▲ 12.7%
2023
20182023
Staff (FTE)
11.8
▲ 87.3%
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€0.2m-€0.3m▲ 96.8%€0.4m▲ 16.1%€0.8m▲ 115%€0.2m▼ 73.3%€0.4m▲ 81.2%
Net result€0.1m-€0.2m▲ 117%€0.3m▲ 15.7%€0.6m▲ 108%€0.2m▼ 73.4%€0.3m▲ 90.0%
Equity€0.1m-€0.4m▲ 205%€0.7m▲ 77.9%€1.3m▲ 91.1%€1.4m▲ 12.7%€1.7m▲ 21.4%
Total assets€0.2m-€0.5m▲ 129%€0.8m▲ 54.3%€1.4m▲ 79.0%€1.6m▲ 13.3%€2.1m▲ 30.4%
Debt€0.1m-€0.1m▲ 40.7%€0.1m▼ 4.4%€0.2m▲ 22.8%€0.2m▲ 17.9%€0.4m▲ 92.8%
Working capital€0.1m-€0.3m▲ 168%€0.5m▲ 73.3%€1.0m▲ 109%€1.3m▲ 22.6%€1.4m▲ 12.7%
Staff (FTE)12.2▲ 120%4.9▲ 123%6.3▲ 28.6%11.8▲ 87.3%
The operating result for 2023 is 81% higher than in 2022. It is a recovery after the fall in 2022.
Large changes and their cause
- 2023 Net result +90%, Staff (FTE) +87% on 2022. Merger absorbing R.V.D.S., effective 21-12-2023. Merger absorbing VERGEBA, effective 21-12-2023.
- 2021 Net result +108% on 2020. The accounts now follow the abbreviated format, last year the micro format.
Turnover and EBIT margin are not published. The abbreviated or micro 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 €2.1m
Fixed assets
€323,386 ▲ 99.8%
Current assets
€1.8m ▲ 22.7%
Equity and liabilities €2.1m
Equity
€1.7m ▲ 21.4%
Debt
€394,849 ▲ 92.8%
Debt's share of the balance-sheet total rises from 12.7% to 18.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€525,982▲
2022 · €287,306
Cash flow
€443,854▲
2022 · €234,254
Current ratio
4.97▼
2022 · 7.69
Quick ratio
4.90▼
2022 · 7.69
Debt to equity
0.23▲
2022 · 0.14
ROE
17.6%▲
2022 · 11.3%
ROA
14.3%▲
2022 · 9.8%
Interest coverage
7.04▼
2022 · 74.68
Debt ≤ 1 year
€359,436▲
2022 · €189,206
Income taxes
€106,915▲
2022 · €55,800
Staff costs
€806,585▲
2022 · €410,749
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 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 5 | 8 | 13 |
| full-time | 5 | 7 | 13 |
| part-time | - | 1 | - |
| in full-time equivalents | 5 | 7.8 | 13 |
| Average over the year, in full-time equivalents | 4.9 | 6.3 | 11.8 |
| On a permanent contract | 5 | 8 | 13 |
| Joined | 2 | 4 | 9 |
| Left | 1 | 1 | 4 |
| Training hours | - | 16 | 80 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Debts secured on the company's own assets | - | €20,053 | - |
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 | €140,609 | €5,112 | €994,492 |
| Financial fixed assets | €8,292 | €500 | €10,874 |
| Depreciation and write-downs of the year | €78,890 | €75,226 | €141,663 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €341 awardedSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.4m | €0.8m | ▲ 96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.008m | €0.06m | €0.04m | €0.08m | €0.08m | €0.1m | ▲ 88.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.01m | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €0.01m | ▲ 524% |
| Gross operating margin9900 | €0.2m | €0.4m | €0.5m | €1.2m | €0.7m | €1.4m | ▲ 93.6% |
| Operating profit (loss)9901 | €0.2m | €0.3m | €0.4m | €0.8m | €0.2m | €0.4m | ▲ 81.2% |
| Financial income75/76B | - | - | - | €0 | €0.007m | €0.1m | ▲ 15× |
| Recurring financial income75 | - | €0 | €1 | €0 | €0.007m | €0.1m | ▲ 15× |
| Financial charges65/66B | - | - | - | €491 | €0.004m | €0.07m | ▲ 19× |
| Recurring financial charges65 | €45 | €147 | €345 | €491 | €0.004m | €0.07m | ▲ 19× |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.3m | €0.4m | €0.8m | €0.2m | €0.4m | ▲ 90.4% |
| Income taxes67/77 | €0.05m | €0.07m | €0.08m | €0.2m | €0.06m | €0.1m | ▲ 91.6% |
| Profit (loss) for the period9904 | €0.1m | €0.2m | €0.3m | €0.6m | €0.2m | €0.3m | ▲ 90.0% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.2m | €0.3m | €0.6m | €0.2m | €0.3m | ▲ 90.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.2m | €0.5m | €0.8m | €1.4m | €1.6m | €2.1m | ▲ 30.4% |
| Fixed assets21/28 | €0.02m | €0.08m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 99.8% |
| Tangible fixed assets22/27 | €0.02m | €0.08m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 98.8% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.1m | €0.3m | ▲ 122% |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.03m | €0.04m | ▲ 13.1% |
| Financial fixed assets28 | - | - | €0.001m | €0.009m | €0.009m | €0.02m | ▲ 117% |
| Current assets29/58 | €0.2m | €0.4m | €0.6m | €1.2m | €1.5m | €1.8m | ▲ 22.7% |
| Stocks and contracts in progress3 | - | - | - | €0.01m | - | €0.03m | - |
| Stocks30/36 | - | - | - | €0.01m | - | €0.01m | - |
| Contracts in progress37 | - | - | - | - | - | €0.02m | - |
| Amounts receivable within one year40/41 | €0.04m | €0.1m | €0.4m | €0.4m | €1.3m | €1.8m | ▲ 37.5% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.3m | ▼ 11.3% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.9m | €1.4m | ▲ 56.3% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.2m | €0.8m | €0.2m | - | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.001m | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.2m | €0.5m | €0.8m | €1.4m | €1.6m | €2.1m | ▲ 30.4% |
| Equity10/15 | €0.1m | €0.4m | €0.7m | €1.3m | €1.4m | €1.7m | ▲ 21.4% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €1.2m | €1.4m | €1.7m | ▲ 21.5% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - |
| Distributable reserves133 | - | - | - | €1.2m | €1.4m | €1.7m | ▲ 21.6% |
| Profit (loss) carried forward14 | €0.1m | €0.4m | €0.6m | - | - | - | - |
| Amounts payable17/49 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.4m | ▲ 92.8% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.4m | ▲ 90.0% |
| Financial debts43 | - | - | - | €0.03m | €0.02m | €0.04m | ▲ 85.5% |
| Credit institutions430/8 | - | - | - | €0.03m | €0.02m | €0.04m | ▲ 85.5% |
| Trade debts44 | €0.06m | €0.08m | €0.09m | €0.05m | €0.02m | €0.2m | ▲ 818% |
| Suppliers440/4 | - | - | - | €0.05m | €0.02m | €0.2m | ▲ 818% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.1m | €0.1m | ▼ 9.5% |
| Taxes450/3 | - | - | - | €0.07m | €0.07m | €0.01m | ▼ 84.8% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.08m | €0.1m | ▲ 58.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.02m | €0.04m | ▲ 128% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €114,523 | €248,067 | €287,109 | €597,656 | €159,028 | €302,191 | ▲ 90.0% |
| + Depreciation and write-downs630 | €7,664 | €55,674 | €43,421 | €78,890 | €75,226 | €141,663 | ▲ 88.3% |
| Operating cash flow (approximation) | €122,187 | €303,741 | €330,530 | €676,546 | €234,254 | €443,854 | ▲ 89.5% |
| Investment in fixed assets (approximation) | - | -€123,676 | -€121,004 | -€148,901 | -€5,612 | -€303,222 | ▼ 5,304% |
| Change in cash | - | €148,071 | -€102,447 | €588,895 | -€625,691 | - | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 19-07-2024 | 2024-00273410 | |
| 31-12-2022 | abbreviated format | 20-07-2023 | 2023-00267868 | |
| 31-12-2021 | abbreviated format | 21-06-2022 | 2022-20083469 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-46000457 | |
| 31-12-2019 | micro format | 17-07-2020 | 2020-31300187 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-24800225 |