Matthys
BankruptcyFinancials · financial year 2023, full format
Annual accounts 2023 filed on 30-01-2024 PDF all 29 filings
Turnover
≈ €2.1m
Estimated: probably between €1.3m and €3.6m
EBIT margin
Not included in this filing
Net result
-€14,299
2022 · €41,285
Working capital
€14,957
2022 · -€13,263
Trend over the years
2019 to 2023, 5 financial years 2019 to 2023, 5 financial years
The operating result for 2023 is a loss of €118,849, after a profit of €74,732 in 2022. It is the lowest result since 2019.
Operating result-€0.1m
2023
Net result-€0.01m
2023
Total assets€1.0m
2023
Equity€0.2m
2023
Debt€0.8m
2023
Working capital€0.01m
2023
Return on assets (ROA)-1.4%
2023
Solvency16.7%
2023
Current ratio1.02
2023
Staff (FTE)22.3
2023
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.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€0.1m-€0.03m▼ 71.1%€0.2m▲ 614%€0.07m▼ 68.3%-€0.1m
Net result€0.08m-€0.03mwithin the sector's middle half▼ 66.6%€0.2mabove the sector's middle half▲ 554%€0.04mwithin the sector's middle half▼ 77.4%-€0.01mbelow the sector's middle half
Equity€0.5m-€0.5mwithin the sector's middle half▲ 6.0%€0.7mwithin the sector's middle half▲ 36.9%€0.2mbelow the sector's middle half▼ 77.1%€0.2mbelow the sector's middle half▲ 8.3%
Total assets€0.8m-€0.8mwithin the sector's middle half▲ 4.1%€1.0mwithin the sector's middle half▲ 26.0%€0.7mbelow the sector's middle half▼ 33.8%€1.0mwithin the sector's middle half▲ 46.6%
Debt€0.3m-€0.3m▲ 1.4%€0.4m▲ 9.7%€0.5m▲ 47.2%€0.8m▲ 57.8%
Working capital€0.3m-€0.3mwithin the sector's middle half▼ 4.0%€0.5mabove the sector's middle half▲ 50.7%-€0.01mwithin the sector's middle half€0.01mwithin the sector's middle half
Solvency58.9%-60.0%above the sector's middle half▲ 1.1pp65.2%above the sector's middle half▲ 5.2pp22.6%within the sector's middle half▼ 42.6pp16.7%below the sector's middle half▼ 5.9pp
Current ratio2.18-2.32above the sector's middle half▲ 0.152.54above the sector's middle half▲ 0.220.97within the sector's middle half▼ 1.561.02within the sector's middle half▲ 0.05
Return on assets (ROA)10.5%-3.4%within the sector's middle half▼ 7.1pp17.5%above the sector's middle half▲ 14.2pp6.0%within the sector's middle half▼ 11.6pp-1.4%below the sector's middle half▼ 7.4pp
Staff (FTE)24.3-18.2above the sector's middle half▼ 25.1%21.7above the sector's middle half▲ 19.2%22.4within the sector's middle half▲ 3.2%22.3within the sector's middle half▼ 0.4%
above
within
below
The sector band is the middle half of the companies in Manufacture of food products (NACE 10). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Large changes and their cause
- 2022 Net result -77% on 2021. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €1.0m
Fixed assets
€286,732 ▲ 48.7%
Current assets
€723,984 ▲ 45.9%
Equity and liabilities €1.0m
Equity
€168,547 ▲ 8.3%
Debt
€842,169 ▲ 57.8%
Debt's share of the balance-sheet total rises from 77.4% to 83.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€46,976▼
2022 · €148,060
Cash flow
€57,574▼
2022 · €114,612
Quick ratio
0.97▲
2022 · 0.92
Debt to equity
5.00▲
2022 · 3.43
ROE
-8.5%▼
2022 · 26.5%
Interest coverage
-1.57▼
2022 · 9.01
Debt ≤ 1 year
€709,027▲
2022 · €509,646
Debt > 1 year
€126,990▲
2022 · €23,899
Income taxes
€1,447▼
2022 · €18,765
Staff costs
€920,947▼
2022 · €938,339
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €1,000 awarded · €1,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €500 | €500 |
| 2022 | 1 | €500 | €500 |
Schemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.9m | €0.9m | ▼ 1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.06m | €0.07m | €0.07m | €0.07m | ▼ 2.0% |
| Other operating charges640/8 | - | - | - | €0.009m | €0.01m | ▲ 18.3% |
| Non-recurring operating charges66A | - | - | - | - | €0.003m | - |
| Gross operating margin9900 | €1.2m | €0.9m | €1.1m | €1.1m | €0.9m | ▼ 19.0% |
| Operating profit (loss)9901 | €0.1m | €0.03m | €0.2m | €0.07m | -€0.1m | - |
| Financial income75/76B | - | - | - | €0.002m | €0.1m | ▲ 77× |
| Recurring financial income75 | €0.002m | €109 | €0.001m | €0.002m | €0.006m | ▲ 267% |
| Non-recurring financial income76B | - | - | - | - | €0.1m | - |
| Financial charges65/66B | - | - | - | €0.02m | €0.03m | ▲ 81.7% |
| Recurring financial charges65 | €0.003m | €0.005m | €0.004m | €0.02m | €0.03m | ▲ 81.7% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.03m | €0.2m | €0.06m | -€0.01m | - |
| Income taxes67/77 | €0.03m | €0.001m | €0.05m | €0.02m | €0.001m | ▼ 92.3% |
| Profit (loss) for the period9904 | €0.08m | €0.03m | €0.2m | €0.04m | -€0.01m | - |
| Profit (loss) for the period to be appropriated9905 | €0.08m | €0.03m | €0.2m | €0.04m | -€0.01m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.8m | €0.8m | €1.0m | €0.7m | €1.0m | ▲ 46.6% |
| Fixed assets21/28 | €0.2m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 48.7% |
| Tangible fixed assets22/27 | €0.2m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 48.7% |
| Land and buildings22 | - | - | - | €0.03m | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.1m | ▼ 10.1% |
| Furniture and vehicles24 | - | - | - | €408 | €0 | ▼ 100% |
| Leasing and similar rights25 | - | - | - | €0.01m | €0.1m | ▲ 11× |
| Other tangible fixed assets26 | - | - | - | - | €0.03m | - |
| Financial fixed assets28 | €0.001m | €87 | €87 | €87 | €87 | = |
| Current assets29/58 | €0.6m | €0.6m | €0.8m | €0.5m | €0.7m | ▲ 45.9% |
| Stocks and contracts in progress3 | €0.03m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 15.6% |
| Stocks30/36 | - | - | - | €0.03m | €0.03m | ▲ 15.6% |
| Amounts receivable within one year40/41 | €0.1m | €0.07m | €0.08m | €0.4m | €0.7m | ▲ 54.0% |
| Trade receivables40 | - | - | - | €0.02m | €0.001m | ▼ 94.6% |
| Other amounts receivable41 | - | - | - | €0.4m | €0.7m | ▲ 60.4% |
| Current investments50/53 | €0.03m | €0.3m | €0.3m | - | - | - |
| Cash at bank and in hand54/58 | €0.4m | €0.2m | €0.4m | €0.02m | €0.01m | ▼ 32.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.002m | ▼ 77.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €1.0m | €0.7m | €1.0m | ▲ 46.6% |
| Equity10/15 | €0.5m | €0.5m | €0.7m | €0.2m | €0.2m | ▲ 8.3% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.03m | €0.03m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €0.3m | €0.001m | -€0.01m | - |
| Investment grants15 | - | - | - | - | €0.03m | - |
| Amounts payable17/49 | €0.3m | €0.3m | €0.4m | €0.5m | €0.8m | ▲ 57.8% |
| Amounts payable after more than one year17 | €0.04m | €0.08m | €0.04m | €0.02m | €0.1m | ▲ 431% |
| Financial debts170/4 | - | - | - | €0.02m | €0.1m | ▲ 431% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.3m | €0.5m | €0.7m | ▲ 39.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.06m | ▼ 79.3% |
| Financial debts43 | - | - | - | - | €0.3m | - |
| Credit institutions430/8 | - | - | - | - | €0.3m | - |
| Trade debts44 | €0.1m | €0.06m | €0.1m | €0.07m | €0.08m | ▲ 14.0% |
| Suppliers440/4 | - | - | - | €0.07m | €0.08m | ▲ 14.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.3m | ▲ 84.8% |
| Taxes450/3 | - | - | - | €0.02m | €0.04m | ▲ 87.7% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.3m | ▲ 84.4% |
| Other amounts payable47/48 | - | - | - | €151 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.006m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,564 | €27,928 | €182,682 | €41,285 | -€14,299 | - |
| + Depreciation and write-downs630 | €61,245 | €60,088 | €68,272 | €73,327 | €71,873 | ▼ 2.0% |
| Operating cash flow (approximation) | €144,809 | €88,016 | €250,954 | €114,612 | €57,574 | ▼ 49.8% |
| Investment in fixed assets (approximation) | - | -€148,309 | -€45,804 | -€33,541 | -€165,757 | ▼ 394% |
| Change in cash | - | -€292,010 | €215,665 | -€349,344 | -€6,424 | ▲ 98.2% |
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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2023 | full format | 30-01-2024 | 2024-00024221 | |
| 30-06-2022 | full format | 27-01-2023 | 2023-00010640 | |
| 30-06-2021 | abbreviated format | 26-01-2022 | 2022-01800286 | |
| 30-06-2020 | abbreviated format | 29-01-2021 | 2021-02500023 | |
| 30-06-2019 | abbreviated format | 15-01-2020 | 2020-01100166 | |
| 30-06-2018 | abbreviated format | 29-01-2019 | 2019-02500180 | |
| 30-06-2017 | abbreviated format | 22-01-2018 | 2018-01800329 | |
| 30-06-2016 | abbreviated format | 13-01-2017 | 2017-01000208 | |
| 30-06-2015 | abbreviated format | 13-01-2016 | 2016-01000386 | |
| 30-06-2014 | abbreviated format | 19-12-2014 | 2014-69500483 |