M-Services
Open bankruptcyFinancials · financial year 2022, micro format
2022 annual accounts filed late (255 days) Filed on 13 October 2023, deadline 31 January 2023 (7 months after the close on 30 June 2022, Companies Code art. 3:10). Source: NBB, 2023-00486605.
Equity
€69,629▲ 18.7%
2021 · €58,644
Total assets
€487,295▲ 17.4%
2021 · €415,073
Net result
€10,986▼ 55.2%
2021 · €24,543
Working capital
€48,569▲ 42.1%
2021 · €34,176
Trend over the years
2019 to 2022, 4 financial years 2019 to 2022, 4 financial years
The operating result has fallen two years in a row; 2022 is 42% below 2021.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€23,637
2022
Net result€10,986
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€487,295
2022
Equity€69,629
2022
Debt€417,665
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€48,569
2022
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)2.3%
2022
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency14.3%
2022
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.12
2022
Average staff in full-time equivalents (FTE).
Staff (FTE)10.6
2022
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022
Operating result€310-€70,121▲ 226×€40,604▼ 42.1%€23,637▼ 41.8%
Net result-€28,488-€50,787above the sector's middle half€24,543within the sector's middle half▼ 51.7%€10,986within the sector's middle half▼ 55.2%
Equity-€16,686-€34,101within the sector's middle half€58,644within the sector's middle half▲ 72.0%€69,629within the sector's middle half▲ 18.7%
Total assets€289,654-€350,715above the sector's middle half▲ 21.1%€415,073above the sector's middle half▲ 18.4%€487,295above the sector's middle half▲ 17.4%
Debt€306,340-€316,614▲ 3.4%€356,429▲ 12.6%€417,665▲ 17.2%
Working capital-€21,037-€23,741within the sector's middle half€34,176within the sector's middle half▲ 44.0%€48,569within the sector's middle half▲ 42.1%
Solvency-5.8%-9.7%below the sector's middle half▲ 15.5pp14.1%below the sector's middle half▲ 4.4pp14.3%below the sector's middle half▲ 0.2pp
Current ratio0.93-1.08below the sector's middle half▲ 0.151.10below the sector's middle half▲ 0.021.12within the sector's middle half▲ 0.02
Return on assets (ROA)-9.8%-14.5%within the sector's middle half▲ 24.3pp5.9%within the sector's middle half▼ 8.6pp2.3%within the sector's middle half▼ 3.7pp
Staff (FTE)2-4.8above the sector's middle half▲ 140%9.1▲ 89.6%10.6▲ 16.5%
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €487,295
Fixed assets
€27,889 ▼ 10.9%
Current assets
€459,406 ▲ 19.7%
Equity and liabilities €487,295
Equity
€69,629 ▲ 18.7%
Debt
€417,665 ▲ 17.2%
Debt's share of the balance-sheet total falls from 85.9% to 85.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€38,300▼
2021 · €51,112
Cash flow
€25,648▼
2021 · €35,051
Quick ratio
1.07▲
2021 · 1.04
Debt to equity
6.00▲
2021 · 0.11
ROE
15.8%▼
2021 · 41.9%
Interest coverage
6.67
Debt ≤ 1 year
€410,836▲
2021 · €349,600
Debt > 1 year
€6,308=
2021 · €6,308
Income taxes
€8,327▼
2021 · €11,758
Staff costs
€499,335
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 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €499,335 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,432 | €10,508 | €10,508 | €14,663 | ▲ 39.5% |
| Other operating charges640/8 | - | - | - | €3,552 | - |
| Gross operating margin9900 | €97,261 | €310,867 | €470,207 | €541,187 | ▲ 15.1% |
| Operating profit (loss)9901 | €310 | €70,121 | €40,604 | €23,637 | ▼ 41.8% |
| Financial income75/76B | - | - | - | €1,420 | - |
| Recurring financial income75 | €1,136 | €1,293 | €2,227 | €1,420 | ▼ 36.3% |
| Financial charges65/66B | - | - | - | €5,744 | - |
| Recurring financial charges65 | €29,702 | €16,484 | €6,530 | €5,744 | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | -€28,257 | €54,930 | €36,301 | €19,312 | ▼ 46.8% |
| Income taxes67/77 | €231 | €4,144 | €11,758 | €8,327 | ▼ 29.2% |
| Profit (loss) for the period9904 | -€28,488 | €50,787 | €24,543 | €10,986 | ▼ 55.2% |
| Profit (loss) for the period to be appropriated9905 | -€28,488 | €50,787 | €24,543 | €10,986 | ▼ 55.2% |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €289,654 | €350,715 | €415,073 | €487,295 | ▲ 17.4% |
| Fixed assets21/28 | €5,915 | €24,546 | €31,297 | €27,889 | ▼ 10.9% |
| Tangible fixed assets22/27 | €5,905 | €24,536 | €31,287 | €27,879 | ▼ 10.9% |
| Plant, machinery and equipment23 | - | - | - | €12,442 | - |
| Furniture and vehicles24 | - | - | - | €15,437 | - |
| Financial fixed assets28 | €10 | €10 | €10 | €10 | = |
| Current assets29/58 | €283,739 | €326,169 | €383,777 | €459,406 | ▲ 19.7% |
| Stocks and contracts in progress3 | €34,597 | €34,597 | €19,474 | €21,574 | ▲ 10.8% |
| Stocks30/36 | - | - | - | €21,574 | - |
| Amounts receivable within one year40/41 | €245,788 | €246,334 | €334,483 | €403,914 | ▲ 20.8% |
| Trade receivables40 | - | - | - | €371,497 | - |
| Other amounts receivable41 | - | - | - | €32,417 | - |
| Cash at bank and in hand54/58 | €3,354 | €22,360 | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €33,918 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €289,654 | €350,715 | €415,073 | €487,295 | ▲ 17.4% |
| Equity10/15 | -€16,686 | €34,101 | €58,644 | €69,629 | ▲ 18.7% |
| Contributions10/11 | €18,600 | - | - | €18,600 | - |
| Reserves13 | €12,149 | €12,149 | €12,149 | €12,149 | = |
| Non-distributable reserves130/1 | - | - | - | €773 | - |
| Reserves not available under the articles1311 | - | - | - | €773 | - |
| Distributable reserves133 | - | - | - | €11,376 | - |
| Profit (loss) carried forward14 | -€47,434 | €3,352 | €27,895 | €38,881 | ▲ 39.4% |
| Amounts payable17/49 | €306,340 | €316,614 | €356,429 | €417,665 | ▲ 17.2% |
| Amounts payable after more than one year17 | - | €13,665 | €6,308 | €6,308 | = |
| Financial debts170/4 | - | - | - | €6,308 | - |
| Amounts payable within one year42/48 | €304,776 | €302,428 | €349,600 | €410,836 | ▲ 17.5% |
| Financial debts43 | - | - | - | €44,645 | - |
| Credit institutions430/8 | - | - | - | €37,145 | - |
| Other loans439 | - | - | - | €7,500 | - |
| Trade debts44 | €146,390 | €115,119 | €120,246 | €144,096 | ▲ 19.8% |
| Suppliers440/4 | - | - | - | €144,096 | - |
| Taxes, remuneration and social security45 | - | - | - | €222,095 | - |
| Taxes450/3 | - | - | - | €5,829 | - |
| Remuneration and social security454/9 | - | - | - | €216,267 | - |
| Accrued charges and deferred income492/3 | - | - | - | €521 | - |
| Line | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€28,488 | €50,787 | €24,543 | €10,986 | ▼ 55.2% |
| + Depreciation and write-downs630 | €9,432 | €10,508 | €10,508 | €14,663 | ▲ 39.5% |
| Operating cash flow (approximation) | -€19,056 | €61,295 | €35,051 | €25,648 | ▼ 26.8% |
| Investment in fixed assets (approximation) | - | -€29,139 | -€17,259 | -€11,255 | ▲ 34.8% |
| Change in cash | - | €19,006 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2022 | micro format | 13-10-2023 | 2023-00486605 |
| 30-06-2021 | micro format | 24-03-2022 | 2022-08400067 |
| 30-06-2020 | micro format | 24-12-2020 | 2020-77000299 |
| 30-06-2019 | micro format | 24-12-2020 | 2020-77000296 |
| 30-06-2018 | micro format | 04-02-2019 | 2019-04300085 |
| 30-06-2017 | micro format | 07-03-2018 | 2018-06400190 |
| 30-06-2016 | abbreviated format | 20-12-2016 | 2016-70700582 |
| 30-06-2015 | abbreviated format | 25-02-2016 | 2016-05400510 |
| 30-06-2014 | abbreviated format | 29-10-2014 | 2014-65700336 |
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Of the 9,478 active companies whose main activity is installation of electric heating, air conditioning, cooling and ventilation (NACE 43222), figures are known for 5,740. 4,835 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €300 awarded · €300 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €240 | €240 |
| 2023 | 1 | €60 | €60 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.