MIGRE
Open bankruptcyFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 13-03-2024 PDF all 20 filings
Turnover
≈ €850,000
Estimated: probably between €570,000 and €1.6m
Total assets
€579,741▼ 12.9%
2022 · €665,232
Net result
-€151,911
2022 · €9,461
Working capital
€273,561▼ 31.3%
2022 · €398,482
Multi-year overview
2019 to 2023, 5 financial yearsOperating result
-€170,578
▼ 920%
2023
20192023
Net result
-€151,911
2023
lowest quarter of the sector
20192023
Equity
€305,665
▼ 33.2%
2023
middle half of the sector
20192023
Total assets
€579,741
▼ 12.9%
2023
middle half of the sector
20192023
Debt
€274,077
▲ 32.0%
2023
20192023
Working capital
€273,561
▼ 31.3%
2023
middle half of the sector
20192023
Solvency
52.7%
▼ 16.1pp
2023
middle half of the sector
20192023
Current ratio
2.13
▼ 1.00
2023
middle half of the sector
20192023
Return on assets (ROA)
-26.2%
▼ 27.6pp
2023
lowest quarter of the sector
20192023
Staff (FTE)
0
2023
lowest quarter of the sector
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result-€0.09m--€0.3m▼ 199%-€0.004m▲ 98.6%-€0.02m▼ 346%-€0.2m▼ 920%
Net result-€0.07m--€0.2mbelow the sector's middle half▼ 239%€0.01mwithin the sector's middle half€0.009mwithin the sector's middle half▼ 9.2%-€0.2mbelow the sector's middle half
Equity€0.7m-€0.4mwithin the sector's middle half▼ 35.2%€0.4mwithin the sector's middle half▲ 2.4%€0.5mwithin the sector's middle half▲ 2.1%€0.3mwithin the sector's middle half▼ 33.2%
Total assets€1.0m-€0.7mwithin the sector's middle half▼ 27.6%€0.7mwithin the sector's middle half▼ 4.5%€0.7mwithin the sector's middle half▼ 6.8%€0.6mwithin the sector's middle half▼ 12.9%
Debt€0.4m-€0.3m▼ 13.0%€0.3m▼ 14.3%€0.2m▼ 21.9%€0.3m▲ 32.0%
Working capital€0.5m-€0.3mwithin the sector's middle half▼ 38.8%€0.3mwithin the sector's middle half▲ 21.4%€0.4mwithin the sector's middle half▲ 18.6%€0.3mwithin the sector's middle half▼ 31.3%
Solvency65.5%-58.5%within the sector's middle half▼ 6.9pp62.8%above the sector's middle half▲ 4.2pp68.8%above the sector's middle half▲ 6.0pp52.7%within the sector's middle half▼ 16.1pp
Current ratio2.27-1.89within the sector's middle half▼ 0.382.26within the sector's middle half▲ 0.373.12above the sector's middle half▲ 0.862.13within the sector's middle half▼ 1.00
Return on assets (ROA)-6.8%--31.8%below the sector's middle half▼ 25.0pp1.5%within the sector's middle half▲ 33.3pp1.4%within the sector's middle half=-26.2%below the sector's middle half▼ 27.6pp
Staff (FTE)11.6-10.3above the sector's middle half▼ 11.2%7.7above the sector's middle half▼ 25.2%0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 operating result for 2023 is a loss of €170,578, larger than the loss of €16,729 in 2022. It is the lowest result since 2020.
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
2023 in colour, 2022 as the grey bar beneath
Assets €579,741
Fixed assets
€63,522 ▼ 19.7%
Current assets
€516,219 ▼ 11.9%
Equity and liabilities €579,741
Equity
€305,665 ▼ 33.2%
Debt
€274,077 ▲ 32.0%
Debt's share of the balance-sheet total rises from 31.2% to 47.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€126,204▼
2022 · €48,587
Cash flow
-€107,537▼
2022 · €74,777
Quick ratio
0.82▼
2022 · 1.45
Debt to equity
0.90▲
2022 · 0.45
ROE
-49.7%▼
2022 · 2.1%
Interest coverage
-17.01▼
2022 · 5.53
Debt ≤ 1 year
€242,658▲
2022 · €187,598
Debt > 1 year
€31,419▲
2022 · €20,058
Income taxes
€174▼
2022 · €1,025
Staff costs
€300,508▼
2022 · €305,208
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 |
|---|---|---|
| Tangible fixed assets | €44,478 | €28,745 |
| Depreciation and write-downs of the year | €65,315 | €44,374 |
Source: notes to the 2022 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €305,208 | €300,508 | ▼ 1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €65,706 | €62,919 | €62,762 | €65,315 | €44,374 | ▼ 32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €12,225 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €2,454 | €7,161 | ▲ 192% |
| Gross operating margin9900 | €326,242 | €98,394 | €270,334 | €368,474 | €181,466 | ▼ 50.8% |
| Operating profit (loss)9901 | -€92,722 | -€276,890 | -€3,751 | -€16,729 | -€170,578 | ▼ 920% |
| Financial income75/76B | - | - | - | €36,072 | €26,259 | ▼ 27.2% |
| Recurring financial income75 | €35,379 | €49,168 | €25,627 | €36,072 | €26,259 | ▼ 27.2% |
| Financial charges65/66B | - | - | - | €8,857 | €7,418 | ▼ 16.2% |
| Recurring financial charges65 | €12,924 | €10,285 | €10,216 | €8,787 | €7,418 | ▼ 15.6% |
| Non-recurring financial charges66B | - | - | - | €70 | - | - |
| Profit (loss) for the period before taxes9903 | -€70,267 | -€238,007 | €11,659 | €10,486 | -€151,737 | - |
| Income taxes67/77 | - | €127 | €1,243 | €1,025 | €174 | ▼ 83.0% |
| Profit (loss) for the period9904 | -€70,267 | -€238,134 | €10,416 | €9,461 | -€151,911 | - |
| Profit (loss) for the period to be appropriated9905 | -€70,267 | -€238,134 | €10,416 | €9,461 | -€151,911 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.0m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 12.9% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.1m | €0.08m | €0.06m | ▼ 19.7% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.1m | €0.08m | €0.06m | ▼ 19.7% |
| Land and buildings22 | - | - | - | €0.02m | €0.002m | ▼ 88.7% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.02m | ▲ 24.0% |
| Leasing and similar rights25 | - | - | - | €0.04m | €0.05m | ▲ 28.5% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.001m | ▼ 89.0% |
| Current assets29/58 | €0.8m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 11.9% |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.6% |
| Stocks30/36 | - | - | - | €0.3m | €0.3m | ▲ 0.6% |
| Amounts receivable within one year40/41 | €0.4m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 13.1% |
| Trade receivables40 | - | - | - | €0.09m | €0.03m | ▼ 67.9% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.1m | ▲ 75.0% |
| Cash at bank and in hand54/58 | €0.04m | €0.08m | €0.1m | €0.09m | €0.04m | ▼ 62.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.04m | ▲ 17.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.0m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 12.9% |
| Equity10/15 | €0.7m | €0.4m | €0.4m | €0.5m | €0.3m | ▼ 33.2% |
| Contributions10/11 | €0.06m | - | - | €0.06m | €0.06m | = |
| Reserves13 | €0.6m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | = |
| Reserves not available under the articles1311 | - | - | - | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.06m | €0.06m | = |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | - | - | - | -€39 | -€0.2m | ▼ 392,637% |
| Amounts payable17/49 | €0.4m | €0.3m | €0.3m | €0.2m | €0.3m | ▲ 32.0% |
| Amounts payable after more than one year17 | - | - | - | €0.02m | €0.03m | ▲ 56.6% |
| Financial debts170/4 | - | - | - | €0.02m | €0.03m | ▲ 56.6% |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | ▲ 29.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.006m | €0.009m | ▲ 62.5% |
| Financial debts43 | - | - | - | €44 | €159 | ▲ 259% |
| Credit institutions430/8 | - | - | - | €44 | €159 | ▲ 259% |
| Trade debts44 | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 19.7% |
| Suppliers440/4 | - | - | - | €0.1m | €0.2m | ▲ 19.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.06m | ▲ 56.4% |
| Taxes450/3 | - | - | - | €0.002m | €0.002m | ▼ 24.1% |
| Remuneration and social security454/9 | - | - | - | €0.04m | €0.06m | ▲ 61.5% |
| Other amounts payable47/48 | - | - | - | - | €0.002m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€70,267 | -€238,134 | €10,416 | €9,461 | -€151,911 | - |
| + Depreciation and write-downs630 | €65,706 | €62,919 | €62,762 | €65,315 | €44,374 | ▼ 32.1% |
| Operating cash flow (approximation) | -€4,561 | -€175,215 | €73,178 | €74,777 | -€107,537 | - |
| Investment in fixed assets (approximation) | - | €0 | -€13,966 | -€32,256 | -€28,745 | ▲ 10.9% |
| Change in cash | - | €38,361 | €17,464 | -€6,383 | -€58,937 | ▼ 823% |
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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2023 | abbreviated format | 13-03-2024 | 2024-00043831 | |
| 30-09-2022 | abbreviated format | 16-03-2023 | 2023-00041250 | |
| 30-09-2021 | abbreviated format | 04-03-2022 | 2022-07200162 | |
| 30-09-2020 | abbreviated format | 16-03-2021 | 2021-08000460 | |
| 30-09-2019 | abbreviated format | 20-03-2020 | 2020-07600269 | |
| 30-09-2018 | abbreviated format | 29-03-2019 | 2019-08800034 | |
| 30-09-2017 | abbreviated format | 24-04-2018 | 2018-10400546 | |
| 30-09-2016 | abbreviated format | 30-03-2017 | 2017-07800005 | |
| 30-09-2015 | abbreviated format | 26-02-2016 | 2016-05100586 | |
| 30-09-2014 | abbreviated format | 27-03-2015 | 2015-07300400 |