M-Tech Services
Open bankruptcyFinancials · financial year 2023, micro format
Annual accounts 2023 filed on 24-05-2024 PDF all 11 filings
Equity
-€6,104
2022 · €35,000
Total assets
€17,418▼ 70.1%
2022 · €58,226
Net result
-€41,104
2022 · €28,426
Working capital
-€6,454
2022 · €27,775
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
-€41,104
2023
20182023
Net result
-€41,104
2023
20182023
Equity
-€6,104
2023
20182023
Total assets
€17,418
▼ 70.1%
2023
20182023
Debt
€23,523
▲ 1.3%
2023
20182023
Working capital
-€6,454
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€2,174-€3,784▲ 74.1%€7,309▲ 93.2%€26,144▲ 258%€38,691▲ 48.0%-€41,104
Net result€2,174-€3,784▲ 74.1%€7,022▲ 85.6%€24,275▲ 246%€28,426▲ 17.1%-€41,104
Equity€6,587-€10,371▲ 57.4%€17,393▲ 67.7%€41,668▲ 140%€35,000▼ 16.0%-€6,104
Total assets€7,453-€13,470▲ 80.7%€23,993▲ 78.1%€54,551▲ 127%€58,226▲ 6.7%€17,418▼ 70.1%
Debt€866-€3,099▲ 258%€6,601▲ 113%€12,883▲ 95.2%€23,226▲ 80.3%€23,523▲ 1.3%
Working capital€6,587-€6,683▲ 1.5%€5,591▼ 16.3%€30,558▲ 447%€27,775▼ 9.1%-€6,454
The operating result for 2023 is a loss of €41,104, after a profit of €38,691 in 2022. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €17,418
Fixed assets
€350 ▼ 95.2%
Current assets
€17,069 ▼ 66.5%
Equity and liabilities
Equity-€6,104
Debt€23,523
Equity is negative. Debt (€23,523) exceeds the balance-sheet total (€17,418).
Key figures and ratios
EBITDA
-€36,522▼
2022 · €43,273
Cash flow
-€36,522▼
2022 · €33,009
Solvency
-35.0%▼
2022 · 60.1%
Current ratio
0.73▼
2022 · 2.20
ROA
-236.0%▼
2022 · 48.8%
Debt ≤ 1 year
€23,523▲
2022 · €23,226
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €3,293 | - | - |
| Depreciation and write-downs of the year | €3,287 | €4,582 | €4,582 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €5,722 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,816 | €4,300 | €3,287 | €4,582 | €4,582 | = |
| Other operating charges640/8 | - | - | - | €6,680 | €2,054 | - | - |
| Non-recurring operating charges66A | - | - | - | - | - | €2,293 | - |
| Gross operating margin9900 | €2,174 | €5,600 | €12,164 | €36,111 | €51,049 | -€34,229 | - |
| Operating profit (loss)9901 | €2,174 | €3,784 | €7,309 | €26,144 | €38,691 | -€41,104 | - |
| Financial income75/76B | - | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €269 | €789 | - | - |
| Recurring financial charges65 | - | - | €288 | €269 | €789 | - | - |
| Profit (loss) for the period before taxes9903 | €2,174 | €3,784 | €7,022 | €25,875 | €37,902 | -€41,104 | - |
| Income taxes67/77 | - | - | - | €1,600 | €9,475 | - | - |
| Profit (loss) for the period9904 | €2,174 | €3,784 | €7,022 | €24,275 | €28,426 | -€41,104 | - |
| Profit (loss) for the period to be appropriated9905 | €2,174 | €3,784 | €7,022 | €24,275 | €28,426 | -€41,104 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €7,453 | €13,470 | €23,993 | €54,551 | €58,226 | €17,418 | ▼ 70.1% |
| Fixed assets21/28 | - | €3,688 | €11,802 | €11,808 | €7,225 | €350 | ▼ 95.2% |
| Tangible fixed assets22/27 | - | €3,688 | €11,802 | €11,808 | €7,225 | €350 | ▼ 95.2% |
| Plant, machinery and equipment23 | - | - | - | €3,751 | €1,902 | €53 | ▼ 97.2% |
| Furniture and vehicles24 | - | - | - | €8,057 | €5,324 | €297 | ▼ 94.4% |
| Current assets29/58 | €7,453 | €9,782 | €12,192 | €42,743 | €51,000 | €17,069 | ▼ 66.5% |
| Amounts receivable within one year40/41 | €5,703 | - | €10,189 | €38,631 | €44,856 | €17,069 | ▼ 61.9% |
| Trade receivables40 | - | - | - | €0 | €17,069 | €17,069 | = |
| Other amounts receivable41 | - | - | - | €38,631 | €27,788 | - | - |
| Cash at bank and in hand54/58 | €1,750 | €9,782 | €2,003 | - | €6,144 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | - | - | €4,112 | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €7,453 | €13,470 | €23,993 | €54,551 | €58,226 | €17,418 | ▼ 70.1% |
| Equity10/15 | €6,587 | €10,371 | €17,393 | €41,668 | €35,000 | -€6,104 | - |
| Contributions10/11 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Capital10 | - | - | - | €35,000 | €35,000 | €35,000 | = |
| Issued capital100 | - | - | - | €35,000 | €35,000 | €35,000 | = |
| Profit (loss) carried forward14 | -€28,413 | -€24,629 | -€17,607 | €6,668 | - | -€41,104 | - |
| Amounts payable17/49 | €866 | €3,099 | €6,601 | €12,883 | €23,226 | €23,523 | ▲ 1.3% |
| Amounts payable within one year42/48 | €866 | €3,099 | €6,601 | €12,185 | €23,226 | €23,523 | ▲ 1.3% |
| Trade debts44 | €866 | €1,243 | €6,601 | €0 | €3,084 | €940 | ▼ 69.5% |
| Suppliers440/4 | - | - | - | €0 | €3,084 | €940 | ▼ 69.5% |
| Taxes, remuneration and social security45 | - | - | - | €7,835 | €20,142 | €15,167 | ▼ 24.7% |
| Taxes450/3 | - | - | - | €3,287 | €20,142 | €15,167 | ▼ 24.7% |
| Remuneration and social security454/9 | - | - | - | €4,548 | - | - | - |
| Other amounts payable47/48 | - | - | - | €4,350 | - | €7,415 | - |
| Accrued charges and deferred income492/3 | - | - | - | €698 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,174 | €3,784 | €7,022 | €24,275 | €28,426 | -€41,104 | - |
| + Depreciation and write-downs630 | - | €1,816 | €4,300 | €3,287 | €4,582 | €4,582 | = |
| Operating cash flow (approximation) | €2,174 | €5,600 | €11,322 | €27,562 | €33,009 | -€36,522 | - |
| Investment in fixed assets (approximation) | - | - | -€12,414 | -€3,293 | €0 | €2,293 | - |
| Change in cash | - | €8,032 | -€7,779 | - | - | -€6,144 | - |
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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 24-05-2024 | 2024-00097295 | |
| 31-12-2022 | micro format | 24-05-2024 | 2024-00097294 | |
| 31-12-2021 | micro format | 06-03-2023 | 2023-00036565 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-61300226 | |
| 31-12-2019 | micro format | 08-02-2021 | 2021-05000069 | |
| 31-12-2018 | micro format | 18-09-2019 | 2019-65300065 | |
| 31-12-2017 | micro format | 27-05-2019 | 2019-14600488 | |
| 31-12-2016 | micro format | 11-07-2017 | 2017-30100411 | |
| 31-12-2015 | abbreviated format | 01-07-2016 | 2016-25800294 | |
| 31-12-2014 | abbreviated format | 09-06-2015 | 2015-16100243 |