MASTERFILTER
InactiveFinancials · financial year 2024, full format
Turnover
≈ €2.0m
Estimated: probably between €1.2m and €3.4m
EBIT margin
Not included in this filing
Net result
€584,780▲ 47.7%
2023 · €395,942
Working capital
€925,038▼ 20.9%
2023 · €1.2m
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result has risen four years in a row; 2024 is 44% above 2023 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.7m
2024
Net result€0.6m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.3m
2024
Equity€1.0m
2024
Debt€0.3m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.9m
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)1.6
2024
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€0.1m-€0.1m▼ 14.9%€0.07m▼ 35.9%€0.2m▲ 187%€0.4m▲ 92.8%€0.5m▲ 37.0%€0.7m▲ 44.3%
Net result€0.09m-€0.07m▼ 21.9%€0.03m▼ 60.7%€0.1m▲ 407%€0.3m▲ 76.8%€0.4m▲ 54.0%€0.6m▲ 47.7%
Equity€0.4m-€0.5m▲ 18.3%€0.5m▲ 6.1%€0.6m▲ 29.0%€0.9m▲ 39.8%€1.3m▲ 43.8%€1.0m▼ 25.6%
Total assets€0.9m-€1.0m▲ 9.6%€1.2m▲ 22.5%€0.9m▼ 28.0%€1.2m▲ 30.7%€1.6m▲ 39.5%€1.3m▼ 22.6%
Debt€0.5m-€0.5m▲ 3.0%€0.7m▲ 36.9%€0.2m▼ 66.6%€0.3m▲ 6.8%€0.3m▲ 24.5%€0.3m▼ 10.8%
Working capital€0.6m-€0.6m▲ 7.1%€0.6m▲ 5.5%€0.7m▲ 5.7%€0.8m▲ 20.1%€1.2m▲ 48.0%€0.9m▼ 20.9%
Staff (FTE)11.5▲ 50.0%1.8▲ 20.0%1.1▼ 38.9%1.2▲ 9.1%1.6▲ 33.3%
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.3m
Fixed assets
€41,505 ▼ 68.1%
Current assets
€1.2m ▼ 18.7%
Equity and liabilities €1.3m
Equity
€966,544 ▼ 25.6%
Debt
€293,000 ▼ 10.8%
Debt's share of the balance-sheet total rises from 20.2% to 23.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€733,989▲
2023 · €510,855
Cash flow
€587,283▲
2023 · €400,006
Current ratio
4.16▼
2023 · 4.56
Quick ratio
3.19▼
2023 · 3.20
Debt to equity
0.30▲
2023 · 0.25
ROE
60.5%▲
2023 · 30.5%
ROA
46.4%▲
2023 · 24.3%
Interest coverage
59.07▲
2023 · 47.97
Debt ≤ 1 year
€293,000▼
2023 · €328,394
Income taxes
€196,611▲
2023 · €128,955
Staff costs
€109,623▲
2023 · €84,320
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €5,227 | €1,028 | €1,330 | ▲ 29.4% |
| Remuneration, social security and pensions62 | - | - | - | €115,143 | €61,600 | €84,320 | €109,623 | ▲ 30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €3,419 | €7,344 | €3,556 | €3,755 | €4,063 | €2,504 | ▼ 38.4% |
| Other operating charges640/8 | - | - | - | €1,896 | €648 | €2,172 | €873 | ▼ 59.8% |
| Non-recurring operating charges66A | - | - | - | €74 | - | €2,340 | €10,397 | ▲ 344% |
| Gross operating margin9900 | €123,627 | €122,154 | €164,685 | €312,459 | €435,792 | €599,688 | €854,882 | ▲ 42.6% |
| Operating profit (loss)9901 | €122,800 | €104,484 | €66,939 | €191,790 | €369,788 | €506,792 | €731,485 | ▲ 44.3% |
| Financial income75/76B | - | - | - | €12,185 | €1,281 | €28,755 | €62,331 | ▲ 117% |
| Recurring financial income75 | €2,819 | €1,764 | - | €12,185 | €1,281 | €28,755 | €62,331 | ▲ 117% |
| Financial charges65/66B | - | - | - | €15,236 | €32,692 | €10,649 | €12,425 | ▲ 16.7% |
| Recurring financial charges65 | €2,348 | €13,854 | €29,795 | €15,236 | €32,692 | €10,649 | €12,425 | ▲ 16.7% |
| Profit (loss) for the period before taxes9903 | €123,272 | €92,393 | €37,144 | €188,738 | €338,377 | €524,898 | €781,391 | ▲ 48.9% |
| Income taxes67/77 | €29,645 | €19,309 | €8,436 | €43,300 | €81,211 | €128,955 | €196,611 | ▲ 52.5% |
| Profit (loss) for the period9904 | €93,626 | €73,084 | €28,708 | €145,438 | €257,166 | €395,942 | €584,780 | ▲ 47.7% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €197,971 | - | - |
| Profit (loss) for the period to be appropriated9905 | €93,626 | €73,084 | €28,708 | €145,438 | €257,166 | €197,971 | €584,780 | ▲ 195% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.9m | €1.0m | €1.2m | €0.9m | €1.2m | €1.6m | €1.3m | ▼ 22.6% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.04m | ▼ 68.1% |
| Intangible fixed assets21 | - | - | - | - | - | - | €0.005m | - |
| Tangible fixed assets22/27 | - | €0.01m | €0.01m | €0.008m | €0.004m | €0.001m | €0.04m | ▲ 25× |
| Plant, machinery and equipment23 | - | - | - | €0.008m | €0.004m | €0.001m | €0.001m | ▼ 49.2% |
| Furniture and vehicles24 | - | - | - | - | - | - | €0.04m | - |
| Financial fixed assets28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | - | - |
| Current assets29/58 | €0.8m | €0.9m | €1.1m | €0.8m | €1.0m | €1.5m | €1.2m | ▼ 18.7% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 36.7% |
| Stocks30/36 | - | - | - | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 36.7% |
| Amounts receivable within one year40/41 | €0.5m | €0.5m | €0.6m | €0.3m | €0.4m | €0.6m | €0.7m | ▲ 4.9% |
| Trade receivables40 | - | - | - | €0.3m | €0.4m | €0.6m | €0.6m | ▲ 3.9% |
| Other amounts receivable41 | - | - | - | €0.02m | €460 | €0.001m | €0.007m | ▲ 405% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.3m | ▼ 32.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.01m | €0.02m | €0.004m | ▼ 72.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.9m | €1.0m | €1.2m | €0.9m | €1.2m | €1.6m | €1.3m | ▼ 22.6% |
| Equity10/15 | €0.4m | €0.5m | €0.5m | €0.6m | €0.9m | €1.3m | €1.0m | ▼ 25.6% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 15.8% |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 15.8% |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 15.8% |
| Reserves13 | €0.3m | €0.4m | €0.4m | €0.6m | €0.8m | €1.2m | €0.9m | ▼ 26.2% |
| Non-distributable reserves130/1 | - | - | - | €0.04m | €0.04m | €0.04m | €0.01m | ▼ 70.6% |
| Legal reserve130 | - | - | - | €0.04m | €0.04m | €0.04m | €0.01m | ▼ 70.6% |
| Tax-exempt reserves132 | - | - | - | - | - | €0.2m | €0.3m | ▲ 69.4% |
| Distributable reserves133 | - | - | - | €0.5m | €0.8m | €1.0m | €0.6m | ▼ 43.6% |
| Amounts payable17/49 | €0.5m | €0.5m | €0.7m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 10.8% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.2m | €0.1m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.1m | - | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.5m | €0.1m | €0.2m | €0.3m | €0.3m | ▼ 10.8% |
| Trade debts44 | €0.1m | €0.1m | €0.3m | €0.07m | €0.05m | €0.2m | €0.2m | ▼ 27.2% |
| Suppliers440/4 | - | - | - | €0.07m | €0.05m | €0.2m | €0.2m | ▼ 27.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.03m | €0.04m | €0.03m | ▼ 31.5% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.03m | €0.02m | ▼ 50.1% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.009m | €0.01m | €0.01m | ▲ 30.9% |
| Other amounts payable47/48 | - | - | - | - | €0.2m | €0.06m | €0.1m | ▲ 65.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.02m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €93,626 | €73,084 | €28,708 | €145,438 | €257,166 | €395,942 | €584,780 | ▲ 47.7% |
| + Depreciation and write-downs630 | - | €3,419 | €7,344 | €3,556 | €3,755 | €4,063 | €2,504 | ▼ 38.4% |
| Operating cash flow (approximation) | €93,626 | €76,503 | €36,052 | €148,994 | €260,921 | €400,006 | €587,283 | ▲ 46.8% |
| Investment in fixed assets (approximation) | - | -€17,093 | -€7,306 | €2,370 | €0 | -€1,575 | €86,260 | - |
| Change in cash | - | €61,196 | €17,401 | -€53,935 | €149,942 | €94,023 | -€135,204 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | full format | 13-05-2025 | 2025-00093717 |
| 31-12-2024 | abbreviated format | 30-04-2025 | 2025-00083266 |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00311312 |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00291834 |
| 31-12-2021 | abbreviated format | 25-08-2022 | 2022-20316347 |
| 31-12-2020 | abbreviated format | 25-06-2021 | 2021-25000156 |
| 31-12-2019 | abbreviated format | 03-09-2020 | 2020-50900536 |
| 31-12-2018 | abbreviated format | 13-06-2019 | 2019-17800108 |
| 31-12-2017 | abbreviated format | 12-06-2018 | 2018-17300334 |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-23700510 |
Subsidies and aid
Flemish government
2022 to 2024 · 4 entries · €1,791 awarded · €1,791 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €299 | €299 |
| 2023 | 2 | €810 | €810 |
| 2022 | 1 | €682 | €682 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.