MEERVER
InactiveFinancials · financial year 2011, abbreviated format
Annual accounts 2011 filed on 29-11-2011 PDF all 28 filings
Turnover
≈ €780,000
Estimated: probably between €470,000 and €1.3m
Total assets
€11.6m▲ 1.5%
2010 · €11.4m
Net result
€530,964▼ 8.9%
2010 · €582,844
Working capital
€2.7m▲ 33.0%
2010 · €2.1m
Multi-year overview
2007 to 2011, 4 financial yearsOperating result
€158,529
▲ 11.7%
2011
20072011
Net result
€530,964
▼ 8.9%
2011
20072011
Equity
€10.9m
▲ 1.0%
2011
20072011
Total assets
€11.6m
▲ 1.5%
2011
20072011
Debt
€723,648
▲ 9.0%
2011
20072011
Working capital
€2.7m
▲ 33.0%
2011
20072011
Staff (FTE)
1
=
2011
20072011
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2007200920102011
Operating result-€1.0m--€0.1m-€0.1m€0.2m▲ 11.7%
Net result€1.5m-€4.0m-€0.6m▼ 85.6%€0.5m▼ 8.9%
Equity€6.1m-€10.2m-€10.8m▲ 5.7%€10.9m▲ 1.0%
Total assets€15.0m-€10.7m-€11.4m▲ 6.4%€11.6m▲ 1.5%
Debt€8.9m-€0.6m-€0.7m▲ 18.8%€0.7m▲ 9.0%
Working capital-€6.9m-€0.8m-€2.1m▲ 154%€2.7m▲ 33.0%
Staff (FTE)1.6-1.1-1▼ 9.1%1=
The operating result for 2011 is 12% higher than in 2010 and the highest since 2007. It is the second rise in a row.
Large changes and their cause
- 2010 Net result -86% on 2009. The previous financial year ran 21 months, this one 12.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2011 in colour, 2010 as the grey bar beneath
Assets €11.6m
Fixed assets
€8.1m ▼ 6.5%
Current assets
€3.4m ▲ 27.1%
Equity and liabilities €11.6m
Equity
€10.9m ▲ 1.0%
Debt
€723,648 ▲ 9.0%
Debt's share of the balance-sheet total rises from 5.8% to 6.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€297,343▼
2010 · €477,347
Cash flow
€669,779▼
2010 · €918,276
Current ratio
4.79▲
2010 · 4.10
ROE
4.9%▼
2010 · 5.4%
ROA
4.6%▼
2010 · 5.1%
Debt ≤ 1 year
€720,516▲
2010 · €661,380
Income taxes
€63,578▼
2010 · €166,840
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2007 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.8m | €0.7m | €0.3m | €0.1m | ▼ 58.6% |
| Gross operating margin9900 | -€0.03m | €0.7m | €0.6m | €0.3m | ▼ 41.3% |
| Operating profit (loss)9901 | -€1.0m | -€0.1m | €0.1m | €0.2m | ▲ 11.7% |
| Recurring financial income75 | €0.04m | €0.1m | €0.05m | €0.05m | ▲ 0.1% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.008m | €0.001m | ▼ 88.3% |
| Profit (loss) for the period before taxes9903 | €1.9m | €4.0m | €0.7m | €0.6m | ▼ 20.7% |
| Income taxes67/77 | €0.5m | -€0.006m | €0.2m | €0.06m | ▼ 61.9% |
| Profit (loss) for the period9904 | €1.5m | €4.0m | €0.6m | €0.5m | ▼ 8.9% |
| Profit (loss) for the period to be appropriated9905 | €1.5m | €4.0m | €0.6m | €0.5m | ▼ 8.9% |
| Line | 2007 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €15.0m | €10.7m | €11.4m | €11.6m | ▲ 1.5% |
| Fixed assets21/28 | €13.1m | €9.4m | €8.7m | €8.1m | ▼ 6.5% |
| Tangible fixed assets22/27 | €7.4m | €3.6m | €3.3m | €3.1m | ▼ 5.4% |
| Financial fixed assets28 | €5.7m | €5.8m | €5.4m | €5.0m | ▼ 7.2% |
| Current assets29/58 | €1.9m | €1.4m | €2.7m | €3.4m | ▲ 27.1% |
| Amounts receivable within one year40/41 | €1.8m | €0.4m | €2.5m | €2.2m | ▼ 11.3% |
| Current investments50/53 | €0.01m | €0.3m | €0.02m | €0.02m | = |
| Cash at bank and in hand54/58 | €0.09m | €0.7m | €0.2m | €1.1m | ▲ 459% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €15.0m | €10.7m | €11.4m | €11.6m | ▲ 1.5% |
| Equity10/15 | €6.1m | €10.2m | €10.8m | €10.9m | ▲ 1.0% |
| Contributions10/11 | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 3.6% |
| Reserves13 | €5.2m | €9.4m | €10.0m | €9.6m | ▼ 4.0% |
| Profit (loss) carried forward14 | €0.2m | €0.05m | €0.03m | €0.6m | ▲ 17× |
| Amounts payable17/49 | €8.9m | €0.6m | €0.7m | €0.7m | ▲ 9.0% |
| Amounts payable within one year42/48 | €8.8m | €0.6m | €0.7m | €0.7m | ▲ 8.9% |
| Trade debts44 | €0.2m | €0.08m | €0.01m | €0.01m | ▼ 28.0% |
| Line | 2007 | 2009 | 2010 | 2011 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.5m | €4.0m | €0.6m | €0.5m | ▼ 8.9% |
| + Depreciation and write-downs630 | €0.8m | €0.7m | €0.3m | €0.1m | ▼ 58.6% |
| Operating cash flow (approximation) | €2.3m | €4.7m | €0.9m | €0.7m | ▼ 27.1% |
| Investment in fixed assets (approximation) | - | - | €0.3m | €0.4m | ▲ 32.6% |
| Change in cash | - | - | -€0.5m | €0.9m | - |
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 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2011 | abbreviated format | 29-11-2011 | 2011-61800354 | |
| 30-09-2010 | abbreviated format | 23-03-2011 | 2011-06400512 | |
| 30-09-2009 | abbreviated format | 30-03-2010 | 2010-07800045 | |
| 31-12-2007 | abbreviated format | 15-09-2008 | 2008-73200300 | |
| 31-12-2006 | abbreviated format | 29-08-2007 | 2007-65900057 | |
| 31-12-2005 | abbreviated format | 11-07-2006 | 2006-45200139 | |
| 31-12-2004 | abbreviated format | 26-07-2005 | 2005-56405280 | |
| 31-12-2003 | abbreviated format | 20-07-2004 | 2004-48703597 | |
| 31-12-2002 | abbreviated format | 30-06-2003 | 2003-32200272 | |
| 31-12-2001 | abbreviated format | 05-07-2002 | 2002-33500126 |