LUEL
Open bankruptcyFinancials · financial year 2022, full format
2022 annual accounts filed 798 days after the deadline Filed on 6 October 2025, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2025-00531385.
Annual accounts 2022 filed on 06-10-2025 PDF all 4 filings
Turnover
€1.3m▼ 66.3%
2021 · €4.0m
EBIT margin
2.0%▲ 1.6pp
2021 · 0.4%
Net result
€32,392▲ 139%
2021 · €13,575
Working capital
€87,375▲ 58.9%
2021 · €54,982
Multi-year overview
2019 to 2022, 4 financial yearsTurnover
€1.3m
▼ 66.3%
2022
20192022
Operating result
€26,318
▲ 61.7%
2022
20192022
Net result
€32,392
▲ 139%
2022
20192022
EBIT margin
2.0%
▲ 1.6pp
2022
20192022
Equity
€87,507
▲ 58.8%
2022
20192022
Total assets
€1.8m
▲ 281%
2022
20192022
Debt
€1.7m
▲ 311%
2022
20192022
Working capital
€87,375
▲ 58.9%
2022
20192022
Staff (FTE)
1.5
=
2022
20192022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022
Turnover€1.1m€4.0m▲ 268%€1.3m▼ 66.3%
Operating result€0.05m-€0.01m▼ 73.8%€0.02m▲ 25.2%€0.03m▲ 61.7%
Net result€0.04m-€0.01m▼ 71.8%€0.01m▲ 9.1%€0.03m▲ 139%
EBIT margin1.2%0.4%▼ 0.8pp2.0%▲ 1.6pp
Equity€0.03m-€0.04m▲ 42.8%€0.06m▲ 32.7%€0.09m▲ 58.8%
Total assets€0.1m-€0.4m▲ 220%€0.5m▲ 16.6%€1.8m▲ 281%
Debt€0.1m-€0.4m▲ 274%€0.4m▲ 14.7%€1.7m▲ 311%
Working capital€0.03m-€0.07m▲ 156%€0.05m▼ 22.4%€0.09m▲ 58.9%
Staff (FTE)1.5-2▲ 33.3%1.5▼ 25.0%1.5=
The operating result for 2022 is 62% higher than in 2021 and the highest since 2019. It is the second rise in a row, after the fall in 2020.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.8m
Fixed assets
€133 =
Current assets
€1.8m ▲ 281%
Equity and liabilities €1.8m
Equity
€87,507 ▲ 58.8%
Debt
€1.7m ▲ 311%
Debt's share of the balance-sheet total rises from 88.1% to 95.1%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.05▼
2021 · 1.13
Debt to equity
19.25▲
2021 · 7.44
ROE
37.0%▲
2021 · 24.6%
ROA
1.8%▼
2021 · 2.9%
Debt ≤ 1 year
€1.7m▲
2021 · €409,829
Income taxes
€7,800
Customer credit
252 days▲
2021 · 1 day
Supplier credit
476 days▲
2021 · 36 days
Staff costs
€39,106▲
2021 · €31,964
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2020 | 31-12-2021 | 31-12-2022 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 2 |
| full-time | 1 | 1 | 1 |
| part-time | - | - | 1 |
| in full-time equivalents | 1 | 1 | 1.5 |
| Average over the year, in full-time equivalents | 1.5 | 1.5 | 1.5 |
| On a permanent contract | 1 | 1 | 2 |
Source: social balance sheet in the 2020 to 2022 annual accounts
Overdue debts
| Item | 2020 | 2021 | 2022 |
|---|---|---|---|
| Overdue tax debts | - | €5,740 | €3,475 |
| Overdue social security (RSZ) debts | - | €8,831 | €10,448 |
Source: notes to the 2020 to 2022 annual accounts (statement of debts)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | €1.1m | €4.0m | €1.3m | ▼ 66.3% |
| Goods, raw materials, services and sundry goods60/61 | - | €1.0m | €3.9m | €1.3m | ▼ 67.6% |
| Remuneration, social security and pensions62 | - | €0.05m | €0.03m | €0.04m | ▲ 22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.001m | €0.001m | €0.001m | - | - |
| Other operating charges640/8 | - | €0.01m | €0.001m | €95 | ▼ 90.2% |
| Gross operating margin9900 | €0.08m | €0.07m | €0.05m | €0.07m | ▲ 31.7% |
| Operating profit (loss)9901 | €0.05m | €0.01m | €0.02m | €0.03m | ▲ 61.7% |
| Financial income75/76B | - | €153 | €0 | €0.02m | ▲ 1,738,831× |
| Recurring financial income75 | €0.001m | €153 | €0 | €0.02m | ▲ 1,738,831× |
| Financial charges65/66B | - | €0.001m | €0.003m | €0.004m | ▲ 29.9% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.003m | €0.004m | ▲ 29.9% |
| Profit (loss) for the period before taxes9903 | €0.05m | €0.01m | €0.01m | €0.04m | ▲ 196% |
| Income taxes67/77 | €0.006m | - | - | €0.008m | - |
| Profit (loss) for the period9904 | €0.04m | €0.01m | €0.01m | €0.03m | ▲ 139% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.01m | €0.01m | €0.03m | ▲ 139% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €0.1m | €0.4m | €0.5m | €1.8m | ▲ 281% |
| Fixed assets21/28 | €0.001m | €0.001m | €133 | €133 | = |
| Tangible fixed assets22/27 | €0.001m | €0.001m | €133 | €133 | = |
| Furniture and vehicles24 | - | €0.001m | €133 | €133 | = |
| Current assets29/58 | €0.1m | €0.4m | €0.5m | €1.8m | ▲ 281% |
| Amounts receivable within one year40/41 | €0.02m | €0.2m | €0.2m | €1.3m | ▲ 503% |
| Trade receivables40 | - | €0.2m | €0.008m | €0.9m | ▲ 121× |
| Other amounts receivable41 | - | €0.04m | €0.2m | €0.4m | ▲ 80.8% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.2m | €0.5m | ▲ 89.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €0.1m | €0.4m | €0.5m | €1.8m | ▲ 281% |
| Equity10/15 | €0.03m | €0.04m | €0.06m | €0.09m | ▲ 58.8% |
| Contributions10/11 | - | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.02m | €0.03m | €0.04m | €0.08m | ▲ 74.9% |
| Amounts payable17/49 | €0.1m | €0.4m | €0.4m | €1.7m | ▲ 311% |
| Amounts payable after more than one year17 | - | €0.03m | - | - | - |
| Financial debts170/4 | - | €0.03m | - | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.3m | €0.4m | €1.7m | ▲ 311% |
| Trade debts44 | €0.04m | €0.3m | €0.4m | €1.7m | ▲ 323% |
| Suppliers440/4 | - | €0.3m | €0.4m | €1.7m | ▲ 323% |
| Taxes, remuneration and social security45 | - | €0.01m | €0.02m | €0.03m | ▲ 60.1% |
| Taxes450/3 | - | €0.006m | €0.006m | €0.02m | ▲ 162% |
| Remuneration and social security454/9 | - | €0.006m | €0.01m | €0.01m | ▲ 13.0% |
| Other amounts payable47/48 | - | €0.03m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,098 | €12,442 | €13,575 | €32,392 | ▲ 139% |
| + Depreciation and write-downs630 | €927 | €795 | €530 | - | - |
| Operating cash flow (approximation) | €45,025 | €13,237 | €14,105 | €32,392 | ▲ 130% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | €100,842 | €48,849 | €223,626 | ▲ 358% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.