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
Multi-year overview
2019 to 2023, 5 financial yearsTurnover
€174,166
▼ 17.9%
2023
20192023
Operating result
-€1,882
2023
20192023
Net result
-€3,037
2023
20192023
EBIT margin
-1.1%
▼ 9.8pp
2023
20192023
Equity
-€62,477
▼ 5.1%
2023
20192023
Total assets
€22,394
▼ 23.0%
2023
20192023
Debt
€84,871
▼ 4.1%
2023
20192023
Working capital
-€78,999
▲ 2.6%
2023
20192023
Staff (FTE)
no figure
2023
20192023
Every figure per financial 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%
The operating result for 2023 is a loss of €1,882, after a profit of €18,475 in 2022.
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 |