M-FIN
InactiveSignals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
30-09-2024 close30-04-2025 deadline01-10-2026 today
neutral · Filed after the deadline
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 21-05-2024, 21 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
21 d late
2022
23 d late
2021
28 d late
2020
28 d late
2019
26 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 25 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€801,566▲ 1,008%
2022 · €72,375
Total assets
€851,566▲ 170%
2022 · €314,857
Net result
€729,191▲ 304%
2022 · €180,548
Working capital
€801,566
2022 · -€153,049
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€253,435-€341,918▲ 34.9%€267,173▼ 21.9%€191,196▼ 28.4%€992,965▲ 419%
Net result€244,770-€333,600▲ 36.3%€254,299▼ 23.8%€180,548▼ 29.0%€729,191▲ 304%
Equity€38,928-€57,528▲ 47.8%€71,827▲ 24.9%€72,375▲ 0.8%€801,566▲ 1,008%
Total assets€445,805-€407,575▼ 8.6%€346,582▼ 15.0%€314,857▼ 9.2%€851,566▲ 170%
Debt€406,877-€350,047▼ 14.0%€274,755▼ 21.5%€242,482▼ 11.7%€50,000▼ 79.4%
Working capital-€327,175--€261,711▲ 20.0%-€195,548▲ 25.3%-€153,049▲ 21.7%€801,566
Staff (FTE)6-5.2▼ 13.3%5.4▲ 3.8%4.2▼ 22.2%1.1▼ 73.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2023; 2023 is 419% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Equity and liabilities €851,566
Equity
€801,566 ▲ 1,008%
Debt
€50,000 ▼ 79.4%
Debt's share of the balance-sheet total falls from 77.0% to 5.9%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
17.03▲
2022 · 0.30
Debt to equity
0.06▼
2022 · 3.35
ROE
91.0%▼
2022 · 249.5%
ROA
85.6%▲
2022 · 57.3%
Debt ≤ 1 year
€50,000▼
2022 · €220,156
Income taxes
€251,595▲
2022 · €10,087
Staff costs
€184,064▼
2022 · €262,860
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €289,513 | €262,860 | €184,064 | ▼ 30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51,615 | €51,348 | €51,864 | €51,864 | - | - |
| Other operating charges640/8 | - | - | €1,382 | €1,476 | €819 | ▼ 44.5% |
| Gross operating margin9900 | €575,288 | €649,280 | €609,932 | €507,396 | €1.2m | ▲ 132% |
| Operating profit (loss)9901 | €253,435 | €341,918 | €267,173 | €191,196 | €992,965 | ▲ 419% |
| Financial charges65/66B | - | - | €380 | €561 | €12,179 | ▲ 2,071% |
| Recurring financial charges65 | €3,446 | €1,139 | €380 | €561 | €2,435 | ▲ 334% |
| Non-recurring financial charges66B | - | - | - | - | €9,744 | - |
| Profit (loss) for the period before taxes9903 | €249,989 | €340,779 | €266,793 | €190,635 | €980,786 | ▲ 414% |
| Income taxes67/77 | €5,219 | €7,179 | €12,494 | €10,087 | €251,595 | ▲ 2,394% |
| Profit (loss) for the period9904 | €244,770 | €333,600 | €254,299 | €180,548 | €729,191 | ▲ 304% |
| Profit (loss) for the period to be appropriated9905 | €244,770 | €333,600 | €254,299 | €180,548 | €729,191 | ▲ 304% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €445,805 | €407,575 | €346,582 | €314,857 | €851,566 | ▲ 170% |
| Fixed assets21/28 | €366,611 | €319,239 | €267,375 | €247,750 | - | - |
| Intangible fixed assets21 | €361,860 | €311,605 | €261,349 | €211,093 | - | - |
| Tangible fixed assets22/27 | €3,251 | €6,134 | €4,526 | €35,157 | - | - |
| Plant, machinery and equipment23 | - | - | €846 | €423 | - | - |
| Furniture and vehicles24 | - | - | €3,680 | €34,734 | - | - |
| Financial fixed assets28 | €1,500 | €1,500 | €1,500 | €1,500 | - | - |
| Current assets29/58 | €79,194 | €88,336 | €79,207 | €67,107 | €851,566 | ▲ 1,169% |
| Amounts receivable within one year40/41 | €28,529 | - | - | €547 | - | - |
| Other amounts receivable41 | - | - | - | €547 | - | - |
| Cash at bank and in hand54/58 | €50,665 | €88,336 | €79,207 | €66,560 | €851,566 | ▲ 1,179% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €445,805 | €407,575 | €346,582 | €314,857 | €851,566 | ▲ 170% |
| Equity10/15 | €38,928 | €57,528 | €71,827 | €72,375 | €801,566 | ▲ 1,008% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €18,928 | €37,528 | €51,827 | €52,375 | €52,375 | = |
| Non-distributable reserves130/1 | - | - | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | - | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | - | €49,827 | €50,375 | €50,375 | = |
| Profit (loss) carried forward14 | - | - | - | - | €729,191 | - |
| Amounts payable17/49 | €406,877 | €350,047 | €274,755 | €242,482 | €50,000 | ▼ 79.4% |
| Amounts payable after more than one year17 | - | - | - | €22,326 | - | - |
| Financial debts170/4 | - | - | - | €22,326 | - | - |
| Amounts payable within one year42/48 | €406,369 | €350,047 | €274,755 | €220,156 | €50,000 | ▼ 77.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,608 | - | - |
| Trade debts44 | €6,297 | €2,484 | €834 | - | - | - |
| Suppliers440/4 | - | - | €834 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €33,921 | €33,548 | - | - |
| Taxes450/3 | - | - | - | €7,195 | - | - |
| Remuneration and social security454/9 | - | - | €33,921 | €26,353 | - | - |
| Other amounts payable47/48 | - | - | €240,000 | €180,000 | €50,000 | ▼ 72.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €244,770 | €333,600 | €254,299 | €180,548 | €729,191 | ▲ 304% |
| + Depreciation and write-downs630 | €51,615 | €51,348 | €51,864 | €51,864 | - | - |
| Operating cash flow (approximation) | €296,385 | €384,948 | €306,163 | €232,412 | €729,191 | ▲ 214% |
| Investment in fixed assets (approximation) | - | -€3,976 | €0 | -€32,239 | - | - |
| Change in cash | - | €37,671 | -€9,129 | -€12,647 | €785,006 | ▲ 6,307% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2024
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
30-09
Financial
Highest result since 2019net €729,191 ▲304%
Operating result €992,965, net result €729,191, both a record.
30-09
Financial
Liquidity times 56current ratio 17.03
Current ratio from 0.30 to 17.03; short-term debt falls from €220,156 to €50,000.
30-09
Financial
Equity above €500,000Eq €801,566 ▲1,008%
5 profitable years in a row build equity to €801,566.
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
30-09
Financial
Weakest financial yearnet €180,548 ▼29%
Net result drops to €180,548, the lowest in the series.
28-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
28-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
2016
28-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 28 days late
2015
27-05
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Structure & network
Owners and holdings
2 ownersOwners 2
-
50%
-
33.33%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Subsidies and aid
Flemish government
2022 · 1 entry · 789 EUR awarded · 645 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 789 EUR | 645 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
875500M69TQSUQQYSS64