MADECT
InactiveFinancials · financial year 2021, micro format
Annual accounts 2021 filed on 25-07-2022 PDF all 7 filings
Turnover
≈ €750,000
Estimated: probably between €520,000 and €1.1m
Total assets
€659,458▲ 78.2%
2020 · €369,980
Net result
€295,714▲ 15×
2020 · €19,135
Working capital
€322,441▲ 12×
2020 · €26,627
Trend over the years
2018 to 2021, 4 financial years 2018 to 2021, 4 financial years
The operating result for 2021 is nearly 14 times that of 2020 and the highest since 2018. It is the third rise in a row.
Operating result€298,039
2021
Net result€295,714
2021
Total assets€659,458
2021
Equity€401,248
2021
Debt€258,210
2021
Working capital€322,441
2021
Staff (FTE)2
2021
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
Line2018201920202021
Operating result€5,015-€21,852▲ 336%€21,985▲ 0.6%€298,039▲ 14×
Net result€4,748-€21,056▲ 343%€19,135▼ 9.1%€295,714▲ 15×
Equity€59,143-€86,400▲ 46.1%€105,534▲ 22.1%€401,248▲ 280%
Total assets€105,224-€156,916▲ 49.1%€369,980▲ 136%€659,458▲ 78.2%
Debt€46,081-€70,516▲ 53.0%€264,446▲ 275%€258,210▼ 2.4%
Working capital€80,158-€65,994▼ 17.7%€26,627▼ 59.7%€322,441▲ 12×
Staff (FTE)1.52.2▲ 46.7%2▼ 9.1%
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €659,458
Fixed assets
€238,872 ▼ 8.1%
Current assets
€420,585 ▲ 282%
Equity and liabilities €659,458
Equity
€401,248 ▲ 280%
Debt
€258,210 ▼ 2.4%
Debt's share of the balance-sheet total falls from 71.5% to 39.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€302,156▲
2020 · €36,038
Cash flow
€299,830▲
2020 · €33,187
Current ratio
4.29▲
2020 · 1.32
Debt to equity
0.64▼
2020 · 1.71
ROE
73.7%▲
2020 · 18.1%
ROA
44.8%▲
2020 · 5.2%
Interest coverage
over 100
Debt ≤ 1 year
€98,145▲
2020 · €83,538
Debt > 1 year
€160,065▼
2020 · €180,907
Income taxes
€400▼
2020 · €446
Staff costs
€71,084
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| part-time | 0 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 2 |
| On a permanent contract | 1 |
| Joined | 24 |
| Left | 25 |
Source: social balance sheet in the 2021 annual accounts
Securities and guarantees
| Item | 2021 |
|---|---|
| Mortgages, amount registered | €25,000 |
| Mortgage mandates | €165,000 |
| Carrying value of the mortgaged assets | €229,504 |
Source: notes to the 2021 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €1,057 |
| Financial fixed assets | €838 |
| Depreciation and write-downs of the year | €4,116 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €71,084 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,547 | €14,798 | €14,052 | €4,116 | ▼ 70.7% |
| Other operating charges640/8 | - | - | - | €551 | - |
| Gross operating margin9900 | €13,345 | €95,181 | €120,496 | €373,790 | ▲ 210% |
| Operating profit (loss)9901 | €5,015 | €21,852 | €21,985 | €298,039 | ▲ 14× |
| Financial income75/76B | - | - | - | €0 | - |
| Recurring financial income75 | €10 | €64 | €10 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €1,926 | - |
| Recurring financial charges65 | €76 | €499 | €2,415 | €1,926 | ▼ 20.3% |
| Profit (loss) for the period before taxes9903 | €4,950 | €21,417 | €19,580 | €296,114 | ▲ 15× |
| Income taxes67/77 | €202 | €361 | €446 | €400 | ▼ 10.2% |
| Profit (loss) for the period9904 | €4,748 | €21,056 | €19,135 | €295,714 | ▲ 15× |
| Profit (loss) for the period to be appropriated9905 | €4,748 | €21,056 | €19,135 | €295,714 | ▲ 15× |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €105,224 | €156,916 | €369,980 | €659,458 | ▲ 78.2% |
| Fixed assets21/28 | €5,394 | €41,525 | €259,815 | €238,872 | ▼ 8.1% |
| Tangible fixed assets22/27 | €5,394 | €37,775 | €256,065 | €234,284 | ▼ 8.5% |
| Land and buildings22 | - | - | - | €229,504 | - |
| Plant, machinery and equipment23 | - | - | - | €2,113 | - |
| Furniture and vehicles24 | - | - | - | €2,667 | - |
| Financial fixed assets28 | - | €3,750 | €3,750 | €4,588 | ▲ 22.3% |
| Current assets29/58 | €99,830 | €115,391 | €110,165 | €420,585 | ▲ 282% |
| Stocks and contracts in progress3 | - | - | €30,000 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €0 | - |
| Amounts receivable within one year40/41 | €98,831 | €26,769 | €6,701 | €224,338 | ▲ 33× |
| Trade receivables40 | - | - | - | €224,338 | - |
| Other amounts receivable41 | - | - | - | €0 | - |
| Cash at bank and in hand54/58 | €1,000 | €88,622 | €55,464 | €196,248 | ▲ 254% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €105,224 | €156,916 | €369,980 | €659,458 | ▲ 78.2% |
| Equity10/15 | €59,143 | €86,400 | €105,534 | €401,248 | ▲ 280% |
| Contributions10/11 | €12,400 | €18,600 | - | €18,600 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €44,883 | €65,940 | €85,074 | €380,788 | ▲ 348% |
| Amounts payable17/49 | €46,081 | €70,516 | €264,446 | €258,210 | ▼ 2.4% |
| Amounts payable after more than one year17 | - | €21,119 | €180,907 | €160,065 | ▼ 11.5% |
| Financial debts170/4 | - | - | - | €160,065 | - |
| Amounts payable within one year42/48 | €19,673 | €49,397 | €83,538 | €98,145 | ▲ 17.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €21,085 | - |
| Trade debts44 | €9,979 | €4,796 | €3,023 | €22,419 | ▲ 642% |
| Suppliers440/4 | - | - | - | €22,419 | - |
| Taxes, remuneration and social security45 | - | - | - | €54,641 | - |
| Taxes450/3 | - | - | - | €49,483 | - |
| Remuneration and social security454/9 | - | - | - | €5,157 | - |
| Other amounts payable47/48 | - | - | - | €0 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,748 | €21,056 | €19,135 | €295,714 | ▲ 15× |
| + Depreciation and write-downs630 | €6,547 | €14,798 | €14,052 | €4,116 | ▼ 70.7% |
| Operating cash flow (approximation) | €11,295 | €35,855 | €33,187 | €299,830 | ▲ 803% |
| Investment in fixed assets (approximation) | - | -€50,929 | -€232,342 | €16,826 | - |
| Change in cash | - | €87,622 | -€33,157 | €140,783 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | micro format | 25-07-2022 | 2022-20218196 | |
| 31-12-2020 | micro format | 28-10-2021 | 2021-74600145 | |
| 31-12-2019 | micro format | 25-08-2020 | 2020-44600504 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59100031 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-56100367 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-55400166 | |
| 31-12-2015 | abbreviated format | 30-08-2016 | 2016-54400126 |