MDA
Bankruptcy closedFinancials · financial year 2023, micro format
2023 annual accounts filed 33 days after the deadline Filed on 2 September 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00442844.
Annual accounts 2023 filed on 02-09-2024 PDF all 5 filings
Turnover
€174,166▼ 17.9%
2022 · €212,127
EBIT margin
-1.1%▼ 9.8pp
2022 · 8.7%
Net result
-€3,037
2022 · €12,080
Working capital
-€78,999▲ 2.6%
2022 · -€81,078
Trend over the years
2019 to 2023, 5 financial years
The operating result for 2023 is a loss of €1,882, after a profit of €18,475 in 2022.
Turnover€174,166
2023
Operating result-€1,882
2023
Net result-€3,037
2023
Total assets€22,394
2023
Equity-€62,477
2023
Debt€84,871
2023
Working capital-€78,999
2023
EBIT margin-1.1%
2023
Staff (FTE)2.9
2020
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.
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
Line20192020202120222023
Turnover€104,674€212,127▲ 103%€174,166▼ 17.9%
Operating result-€32,436--€36,216▼ 11.7%-€14,035▲ 61.2%€18,475-€1,882
Net result-€32,910--€38,212▼ 16.1%-€14,598▲ 61.8%€12,080-€3,037
EBIT margin-13.4%8.7%▲ 22.1pp-1.1%▼ 9.8pp
Equity-€18,710--€56,922▼ 204%-€71,520▼ 25.6%-€59,440▲ 16.9%-€62,477▼ 5.1%
Total assets€24,396-€34,708▲ 42.3%€32,323▼ 6.9%€29,073▼ 10.1%€22,394▼ 23.0%
Debt€43,106-€91,630▲ 113%€103,842▲ 13.3%€88,513▼ 14.8%€84,871▼ 4.1%
Working capital-€19,560--€64,821▼ 231%-€96,313▼ 48.6%-€81,078▲ 15.8%-€78,999▲ 2.6%
Staff (FTE)1.5-2.9▲ 93.3%
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €22,394
Fixed assets
€19,122 ▼ 11.6%
Current assets
€3,272 ▼ 56.0%
Equity and liabilities
Equity-€62,477
Debt€84,871
Equity is negative. Debt (€84,871) exceeds the balance-sheet total (€22,394).
Key figures and ratios
EBITDA
€1,274▼
2022 · €21,631
Cash flow
€118▼
2022 · €15,235
Solvency
-279.0%▼
2022 · -204.5%
Current ratio
0.04▼
2022 · 0.08
Quick ratio
0.03▲
2022 · 0.03
ROA
-13.6%▼
2022 · 41.6%
Interest coverage
0.91▼
2022 · 16.11
Debt ≤ 1 year
€82,271▼
2022 · €88,513
Customer credit
1 day
Supplier credit
61 days▲
2022 · 30 days
Staff costs
€35,087▼
2022 · €51,444
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.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €104,674 | €212,127 | €174,166 | ▼ 17.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €67,978 | €137,127 | €135,828 | ▼ 0.9% |
| Remuneration, social security and pensions62 | - | - | €45,544 | €51,444 | €35,087 | ▼ 31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €2,629 | €3,155 | €3,155 | €3,155 | = |
| Other operating charges640/8 | - | - | €2,032 | €1,925 | €1,977 | ▲ 2.7% |
| Gross operating margin9900 | €12,918 | €29,922 | €36,696 | €75,000 | €38,338 | ▼ 48.9% |
| Operating profit (loss)9901 | -€32,436 | -€36,216 | -€14,035 | €18,475 | -€1,882 | - |
| Financial income75/76B | - | - | €4 | €4 | €247 | ▲ 62× |
| Recurring financial income75 | - | €0 | €4 | €4 | €247 | ▲ 62× |
| Financial charges65/66B | - | - | €566 | €1,343 | €1,402 | ▲ 4.4% |
| Recurring financial charges65 | €462 | €1,855 | €566 | €1,343 | €1,402 | ▲ 4.4% |
| Profit (loss) for the period before taxes9903 | -€32,898 | -€38,071 | -€14,598 | €17,136 | -€3,037 | - |
| Income taxes67/77 | €12 | €141 | - | €5,057 | - | - |
| Profit (loss) for the period9904 | -€32,910 | -€38,212 | -€14,598 | €12,080 | -€3,037 | - |
| Profit (loss) for the period to be appropriated9905 | -€32,910 | -€38,212 | -€14,598 | €12,080 | -€3,037 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €24,396 | €34,708 | €32,323 | €29,073 | €22,394 | ▼ 23.0% |
| Fixed assets21/28 | €5,200 | €27,948 | €24,793 | €21,638 | €19,122 | ▼ 11.6% |
| Tangible fixed assets22/27 | - | €22,748 | €19,593 | €16,438 | €13,282 | ▼ 19.2% |
| Land and buildings22 | - | - | €18,949 | €16,057 | €13,166 | ▼ 18.0% |
| Plant, machinery and equipment23 | - | - | €644 | €380 | €117 | ▼ 69.3% |
| Financial fixed assets28 | €5,200 | €5,200 | €5,200 | €5,200 | €5,840 | ▲ 12.3% |
| Current assets29/58 | €19,196 | €6,759 | €7,530 | €7,435 | €3,272 | ▼ 56.0% |
| Stocks and contracts in progress3 | €15,000 | €5,000 | €5,000 | €5,000 | €829 | ▼ 83.4% |
| Stocks30/36 | - | - | €5,000 | €5,000 | €829 | ▼ 83.4% |
| Amounts receivable within one year40/41 | €680 | €105 | - | - | €702 | - |
| Other amounts receivable41 | - | - | - | - | €702 | - |
| Cash at bank and in hand54/58 | €3,346 | €251 | €1,223 | €2,435 | €1,741 | ▼ 28.5% |
| Deferred charges and accrued income490/1 | - | - | €1,307 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €24,396 | €34,708 | €32,323 | €29,073 | €22,394 | ▼ 23.0% |
| Equity10/15 | -€18,710 | -€56,922 | -€71,520 | -€59,440 | -€62,477 | ▼ 5.1% |
| Contributions10/11 | €14,200 | - | €14,200 | €14,200 | €14,200 | = |
| Contributions outside capital11 | - | - | €14,200 | €14,200 | €14,200 | = |
| Other1109/19 | - | - | €14,200 | €14,200 | €14,200 | = |
| Profit (loss) carried forward14 | -€32,910 | -€71,122 | -€85,720 | -€73,640 | -€76,677 | ▼ 4.1% |
| Amounts payable17/49 | €43,106 | €91,630 | €103,842 | €88,513 | €84,871 | ▼ 4.1% |
| Amounts payable within one year42/48 | €38,756 | €71,580 | €103,842 | €88,513 | €82,271 | ▼ 7.1% |
| Trade debts44 | €26,703 | €36,445 | €51,846 | €11,304 | €22,587 | ▲ 99.8% |
| Suppliers440/4 | - | - | €51,846 | €11,304 | €22,587 | ▲ 99.8% |
| Taxes, remuneration and social security45 | - | - | €8,996 | €45,036 | €17,809 | ▼ 60.5% |
| Taxes450/3 | - | - | €992 | €22,783 | €15,370 | ▼ 32.5% |
| Remuneration and social security454/9 | - | - | €8,004 | €22,253 | €2,439 | ▼ 89.0% |
| Other amounts payable47/48 | - | - | €43,001 | €32,173 | €41,875 | ▲ 30.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,600 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€32,910 | -€38,212 | -€14,598 | €12,080 | -€3,037 | - |
| + Depreciation and write-downs630 | - | €2,629 | €3,155 | €3,155 | €3,155 | = |
| Operating cash flow (approximation) | -€32,910 | -€35,582 | -€11,442 | €15,235 | €118 | ▼ 99.2% |
| Investment in fixed assets (approximation) | - | -€25,378 | €0 | €0 | -€640 | - |
| Change in cash | - | -€3,095 | €972 | €1,212 | -€694 | - |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 02-09-2024 | 2024-00442844 | |
| 31-12-2022 | micro format | 06-10-2023 | 2023-00479251 | |
| 31-12-2021 | micro format | 09-12-2022 | 2022-20534860 | |
| 31-12-2020 | micro format | 15-09-2021 | 2021-67500367 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-65000145 |