MASSIVE
InactiveSignals
Two signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2009. Since then, 16 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
31-12-2010 close31-07-2011 deadline01-10-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2009 was due by 31-07-2010 and was filed on 07-07-2010, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filings
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 2009, full schema
Turnover
€252.7m▲ 1.5%
2008 · €248.9m
EBIT margin
1.6%▼ 10.3pp
2008 · 11.8%
Net result
€8.8m▼ 8.4%
2008 · €9.6m
Working capital
€201.2m
2008 · -€127.2m
Trend over the years
In euros
In per cent
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
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
Line20082009
Turnover€248.9m-€252.7m▲ 1.5%
Operating result€29.5m-€4.0m▼ 86.5%
Net result€9.6m-€8.8m▼ 8.4%
EBIT margin11.8%-1.6%▼ 10.3pp
Equity€12.5m-€344.2m▲ 2,652%
Total assets€263.5m-€430.0m▲ 63.2%
Debt€235.1m-€72.9m▼ 69.0%
Working capital-€127.2m-€201.2m
Staff (FTE)366.2-410.5▲ 12.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2009; 2009 is 87% below 2008.
Balance-sheet composition
2009 in colour, 2008 as the grey bar beneath
Assets €430.0m
Fixed assets
€158.0m ▼ 10.1%
Current assets
€272.0m ▲ 210%
Equity and liabilities €430.0m
Equity
€344.2m ▲ 2,652%
Provisions
€13.0m ▼ 18.0%
Debt
€72.9m ▼ 69.0%
Debt's share of the balance-sheet total falls from 89.2% to 16.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€7.8m▼
2008 · €31.6m
Cash flow
€12.7m▲
2008 · €11.7m
Current ratio
3.84▲
2008 · 0.41
Quick ratio
3.40▲
2008 · 0.22
Debt to equity
0.21
ROE
2.6%▼
2008 · 77.1%
ROA
2.1%▼
2008 · 3.7%
Interest coverage
8.19▲
2008 · 4.26
Debt ≤ 1 year
€70.8m▼
2008 · €214.9m
Income taxes
€1.9m▼
2008 · €5.4m
Staff costs
€29.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2008 | 2009 | Change |
|---|---|---|---|
| Turnover70 | €248.9m | €252.7m | ▲ 1.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | -€110,922 | - |
| Own construction capitalised72 | - | €7.9m | - |
| Other operating income74 | - | €866,626 | - |
| Goods for resale, raw materials and consumables60 | - | €150.5m | - |
| Purchases600/8 | - | €140.4m | - |
| Change in stocks: decrease (increase)609 | - | €10.0m | - |
| Services and other goods61 | - | €76.1m | - |
| Remuneration, social security and pensions62 | - | €29.5m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.1m | €3.8m | ▲ 83.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€28,968 | - |
| Other operating charges640/8 | - | €389,235 | - |
| Operating profit (loss)9901 | €29.5m | €4.0m | ▼ 86.5% |
| Recurring financial income75 | €9.0m | €26.0m | ▲ 188% |
| Income from financial fixed assets750 | - | €1.7m | - |
| Income from current assets751 | - | €2.8m | - |
| Other financial income752/9 | - | €21.6m | - |
| Recurring financial charges65 | €23.7m | €15.6m | ▼ 34.0% |
| Debt charges650 | €7.4m | €954,177 | ▼ 87.1% |
| Other financial charges652/9 | - | €14.7m | - |
| Profit (loss) for the period before taxes9903 | €15.1m | €10.7m | ▼ 28.8% |
| Income taxes67/77 | €5.4m | €1.9m | ▼ 65.1% |
| Taxes670/3 | - | €1.9m | - |
| Profit (loss) for the period9904 | €9.6m | €8.8m | ▼ 8.4% |
| Profit (loss) for the period to be appropriated9905 | €9.6m | €8.8m | ▼ 8.4% |
| Line | 2008 | 2009 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €263.5m | €430.0m | ▲ 63.2% |
| Fixed assets21/28 | €175.8m | €158.0m | ▼ 10.1% |
| Intangible fixed assets21 | €133,403 | €6.7m | ▲ 4,913% |
| Tangible fixed assets22/27 | €5.7m | €7.3m | ▲ 29.0% |
| Plant, machinery and equipment23 | - | €6.9m | - |
| Furniture and vehicles24 | - | €347,200 | - |
| Other tangible fixed assets26 | - | €66,101 | - |
| Financial fixed assets28 | €170.0m | €144.0m | ▼ 15.3% |
| Affiliated companies280/1 | - | €143.7m | - |
| Participating interests280 | - | €143.7m | - |
| Other financial fixed assets284/8 | - | €311,502 | - |
| Amounts receivable and cash guarantees285/8 | - | €311,502 | - |
| Current assets29/58 | €87.7m | €272.0m | ▲ 210% |
| Stocks and contracts in progress3 | €41.0m | €30.9m | ▼ 24.6% |
| Stocks30/36 | - | €30.9m | - |
| Raw materials and consumables30/31 | - | €961,726 | - |
| Goods purchased for resale34 | - | €30.0m | - |
| Contracts in progress37 | - | €2,072 | - |
| Amounts receivable within one year40/41 | €27.1m | €32.7m | ▲ 20.6% |
| Trade receivables40 | - | €31.2m | - |
| Other amounts receivable41 | - | €1.6m | - |
| Cash at bank and in hand54/58 | €1.2m | €207.4m | ▲ 17,750% |
| Deferred charges and accrued income490/1 | - | €948,445 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €263.5m | €430.0m | ▲ 63.2% |
| Equity10/15 | €12.5m | €344.2m | ▲ 2,652% |
| Contributions10/11 | €11.3m | €11.5m | ▲ 1.7% |
| Capital10 | - | €11.5m | - |
| Issued capital100 | - | €11.5m | - |
| Reserves13 | €1.2m | €332.7m | ▲ 27,650% |
| Legal reserve130 | - | €1.2m | - |
| Reserves not available under the articles1311 | - | €4 | - |
| Tax-exempt reserves132 | - | €42,773 | - |
| Distributable reserves133 | - | €331.5m | - |
| Profit (loss) carried forward14 | €4,544 | €3,789 | ▼ 16.6% |
| Provisions and deferred taxes16 | €15.8m | €13.0m | ▼ 18.0% |
| Provisions for liabilities and charges160/5 | - | €13.0m | - |
| Pensions and similar obligations160 | - | €2.1m | - |
| Amounts payable17/49 | €235.1m | €72.9m | ▼ 69.0% |
| Amounts payable within one year42/48 | €214.9m | €70.8m | ▼ 67.0% |
| Trade debts44 | €40.9m | €63.3m | ▲ 54.8% |
| Suppliers440/4 | - | €63.3m | - |
| Advances received on contracts in progress46 | - | €262,026 | - |
| Taxes, remuneration and social security45 | - | €6.1m | - |
| Taxes450/3 | - | €1.3m | - |
| Remuneration and social security454/9 | - | €4.7m | - |
| Other amounts payable47/48 | - | €1.2m | - |
| Accrued charges and deferred income492/3 | - | €2.1m | - |
| Line | 2008 | 2009 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €9.6m | €8.8m | ▼ 8.4% |
| + Depreciation and write-downs630 | €2.1m | €3.8m | ▲ 83.5% |
| Operating cash flow (approximation) | €11.7m | €12.7m | ▲ 8.0% |
| Investment in fixed assets (approximation) | - | €13.9m | - |
| Change in cash | - | €206.2m | - |
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
2010
07-07
NBB filing
Annual accounts filed
fiscal year 2009 · full schema
2009
31-12
Financial
Liquidity times 9current ratio 3.84
Current ratio from 0.41 to 3.84; short-term debt falls from €214.9m to €70.8m.
31-12
Financial
Equity above €250mEq €344.2m ▲2,652%
2 profitable years in a row build equity to €344.2m.
02-07
NBB filing
Annual accounts filed
fiscal year 2008 · full schema
2008
10-07
NBB filing
Annual accounts filed
fiscal year 2007 · full schema
2007
29-05
NBB filing
Annual accounts filed
fiscal year 2006 · full schema
2006
10-07
State Gazette act
Demerger · Real estate
Power of attorney
23-05
NBB filing
Annual accounts filed
fiscal year 2005 · full schema
2005
20-05
NBB filing
Annual accounts filed
fiscal year 2004 · full schema
2004
26-05
NBB filing
Annual accounts filed
fiscal year 2003 · full schema
2003
27-05
NBB filing
Annual accounts filed
fiscal year 2002 · full schema
2002
07-05
NBB filing
Annual accounts filed
fiscal year 2001 · full schema
2001
06-06
NBB filing
Annual accounts filed
fiscal year 2000 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionSplit off to:Warehouses De Pauw Comm.VA