M - PLUS
InactiveFinancials · financial year 2022, abbreviated format
Annual accounts 2022 filed on 25-05-2023 PDF all 17 filings
Turnover
≈ €1.9m
Estimated: probably between €1.3m and €3.1m
Total assets
€1.8m▲ 0.5%
2021 · €1.7m
Net result
-€118,380
2021 · €134,931
Working capital
€1.3m▼ 5.6%
2021 · €1.4m
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result for 2022 is a loss of €157,286, after a profit of €62,984 in 2021. It is the lowest result since 2018.
Operating result-€0.2m
2022
Net result-€0.1m
2022
Total assets€1.8m
2022
Equity€1.4m
2022
Debt€0.4m
2022
Working capital€1.3m
2022
Staff (FTE)38.4
2022
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€0.6m-€0.04m▼ 93.3%-€0.02m€0.06m-€0.2m
Net result€0.6m-€0.04m▼ 94.3%-€0.02m€0.1m-€0.1m
Equity€1.4m-€1.5m▲ 4.8%€1.4m▼ 4.3%€1.5m▲ 6.5%€1.4m▼ 10.2%
Total assets€1.7m-€1.8m▲ 5.9%€1.7m▼ 4.4%€1.7m▲ 2.8%€1.8m▲ 0.5%
Debt€0.2m-€0.3m▲ 12.7%€0.3m▼ 5.0%€0.2m▼ 18.2%€0.4m▲ 79.0%
Working capital€1.2m-€1.1m▼ 2.0%€1.2m▲ 2.9%€1.4m▲ 14.9%€1.3m▼ 5.6%
Staff (FTE)35.5-38.2▲ 7.6%38.2=37.8▼ 1.0%38.4▲ 1.6%
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
2022 in colour, 2021 as the grey bar beneath
Assets €1.8m
Fixed assets
€130,715 ▼ 30.5%
Current assets
€1.6m ▲ 4.2%
Equity and liabilities €1.8m
Equity
€1.4m ▼ 10.2%
Debt
€375,188 ▲ 79.0%
Debt's share of the balance-sheet total rises from 12.0% to 21.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€63,993▼
2021 · €168,050
Cash flow
-€25,087▼
2021 · €239,998
Current ratio
4.63▼
2021 · 7.45
Quick ratio
3.79▼
2021 · 6.75
Debt to equity
0.27▲
2021 · 0.14
ROE
-8.6%▼
2021 · 8.8%
ROA
-6.7%▼
2021 · 7.7%
Interest coverage
-570.96▼
2021 · 33.37
Debt ≤ 1 year
€351,357▲
2021 · €209,564
Staff costs
€1.1m▲
2021 · €998,581
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 | 43 | 46 |
| full-time | 32 | 34 |
| part-time | 11 | 12 |
| in full-time equivalents | 36.7 | 40.6 |
| Average over the year, in full-time equivalents | 37.8 | 38.4 |
| On a permanent contract | 43 | 46 |
| Joined | 3 | 10 |
| Left | 6 | 8 |
| Training hours | 756 | 854 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | €23,342 | €35,796 |
| Depreciation and write-downs of the year | €105,066 | €93,293 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 6 entries · €680,824 awarded · €735,014 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 2 | €164,896 | €203,756 |
| 2022 | 4 | €515,928 | €531,258 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1.0m | €1.1m | ▲ 15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 11.2% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.005m | ▲ 172% |
| Gross operating margin9900 | €1.7m | €1.2m | €1.1m | €1.2m | €1.1m | ▼ 6.6% |
| Operating profit (loss)9901 | €0.6m | €0.04m | -€0.02m | €0.06m | -€0.2m | - |
| Financial income75/76B | - | - | - | €0.08m | €0.04m | ▼ 49.3% |
| Recurring financial income75 | €0.002m | €153 | €0.001m | €0.08m | €0.04m | ▼ 49.0% |
| Non-recurring financial income76B | - | - | - | €0.001m | - | - |
| Financial charges65/66B | - | - | - | €0.005m | €112 | ▼ 97.8% |
| Recurring financial charges65 | €0.002m | €0.01m | €0.001m | €0.005m | €112 | ▼ 97.8% |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.03m | -€0.02m | €0.1m | -€0.1m | - |
| Profit (loss) for the period9904 | €0.6m | €0.04m | -€0.02m | €0.1m | -€0.1m | - |
| Profit (loss) for the period to be appropriated9905 | €0.6m | €0.04m | -€0.02m | €0.1m | -€0.1m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.8m | €1.7m | €1.7m | €1.8m | ▲ 0.5% |
| Fixed assets21/28 | €0.3m | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 30.5% |
| Tangible fixed assets22/27 | €0.3m | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 30.6% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.1m | ▼ 34.2% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | ▲ 4.3% |
| Financial fixed assets28 | - | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €1.4m | €1.4m | €1.4m | €1.6m | €1.6m | ▲ 4.2% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 102% |
| Stocks30/36 | - | - | - | €0.1m | €0.2m | ▲ 50.0% |
| Contracts in progress37 | - | - | - | - | €0.08m | - |
| Amounts receivable within one year40/41 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 12.0% |
| Trade receivables40 | - | - | - | €0.4m | €0.3m | ▼ 22.0% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.08m | ▲ 66.0% |
| Current investments50/53 | €0.3m | €0.3m | €0.3m | - | - | - |
| Cash at bank and in hand54/58 | €0.5m | €0.5m | €0.6m | €1.0m | €1.0m | ▼ 3.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.01m | ▲ 94.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.8m | €1.7m | €1.7m | €1.8m | ▲ 0.5% |
| Equity10/15 | €1.4m | €1.5m | €1.4m | €1.5m | €1.4m | ▼ 10.2% |
| Reserves13 | - | - | - | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | €0.9m | €0.9m | €0.9m | €0.9m | €0.8m | ▼ 13.0% |
| Investment grants15 | - | - | - | €0.08m | €0.04m | ▼ 50.7% |
| Amounts payable17/49 | €0.2m | €0.3m | €0.3m | €0.2m | €0.4m | ▲ 79.0% |
| Amounts payable after more than one year17 | €0.02m | €0.006m | - | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.3m | €0.2m | €0.4m | ▲ 67.7% |
| Trade debts44 | €0.04m | €0.1m | €0.1m | €0.07m | €0.1m | ▲ 122% |
| Suppliers440/4 | - | - | - | €0.07m | €0.1m | ▲ 122% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | ▲ 9.3% |
| Taxes450/3 | - | - | - | €0.03m | €0.02m | ▼ 25.7% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | ▲ 20.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.02m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €644,140 | €36,650 | -€24,536 | €134,931 | -€118,380 | - |
| + Depreciation and write-downs630 | €71,560 | €105,950 | €121,862 | €105,066 | €93,293 | ▼ 11.2% |
| Operating cash flow (approximation) | €715,700 | €142,600 | €97,326 | €239,998 | -€25,087 | - |
| Investment in fixed assets (approximation) | - | -€181,244 | -€17,402 | -€23,342 | -€35,796 | ▼ 53.4% |
| Change in cash | - | €17,197 | €75,092 | €383,788 | -€38,305 | - |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | abbreviated format | 25-05-2023 | 2023-00100744 | |
| 31-12-2021 | abbreviated format | 16-06-2022 | 2022-20071121 | |
| 31-12-2020 | abbreviated format | 24-06-2021 | 2021-24200027 | |
| 31-12-2019 | abbreviated format | 13-07-2020 | 2020-29400455 | |
| 31-12-2018 | abbreviated format | 12-06-2019 | 2019-17900250 | |
| 31-12-2017 | abbreviated format | 12-06-2018 | 2018-17800295 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-24000183 | |
| 31-12-2015 | abbreviated format | 12-07-2016 | 2016-30600457 | |
| 31-12-2014 | abbreviated format | 01-07-2015 | 2015-25900441 | |
| 31-12-2013 | abbreviated format | 09-07-2014 | 2014-28800071 |