MODULOR
Open bankruptcyFinancials · financial year 2017, micro format
Annual accounts 2017 filed on 24-04-2018 PDF all 17 filings
Turnover
≈ €130,000
Estimated: probably between €97,000 and €190,000
Total assets
€138,238▼ 72.2%
2016 · €496,688
Net result
-€37,324
2016 · €4,658
Working capital
€113,213
2016 · -€249,742
Multi-year overview
2013 to 2017, 4 financial yearsOperating result
€10,334
▼ 93.9%
2017
20132017
Net result
-€37,324
2017
20132017
Equity
€136,362
▼ 21.5%
2017
20132017
Total assets
€138,238
▼ 72.2%
2017
20132017
Debt
€1,876
▼ 99.4%
2017
20132017
Working capital
€113,213
2017
20132017
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2013201520162017
Operating result€0.04m-€0.2m-€0.2m▼ 26.2%€0.01m▼ 93.9%
Net result€0.004m-€0.1m-€0.005m▼ 96.9%-€0.04m
Equity€0.2m-€0.2m-€0.2m▲ 2.8%€0.1m▼ 21.5%
Total assets€1.2m-€0.4m-€0.5m▲ 24.9%€0.1m▼ 72.2%
Debt€0.9m-€0.2m-€0.3m▲ 41.4%€0.002m▼ 99.4%
Working capital€0.02m-€0.07m--€0.2m€0.1m
The operating result for 2017 is 94% lower than in 2016 and the lowest since 2013. It is the second fall in a row.
Large changes and their cause
- 2016 Net result -97% on 2015. The previous financial year ran 21 months, this one 12.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2017 in colour, 2016 as the grey bar beneath
Assets €138,238
Fixed assets
€23,148 ▼ 94.5%
Current assets
€115,090 ▲ 57.1%
Equity and liabilities €138,238
Equity
€136,362 ▼ 21.5%
Debt
€1,876 ▼ 99.4%
Debt's share of the balance-sheet total falls from 65.0% to 1.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,613▼
2016 · €177,933
Cash flow
-€37,045▼
2016 · €14,340
Current ratio
61.34▲
2016 · 0.23
ROE
-27.4%▼
2016 · 2.7%
ROA
-27.0%▼
2016 · 0.9%
Debt ≤ 1 year
€1,876▼
2016 · €323,002
Income taxes
-€4▼
2016 · €455
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2013 | 2015 | 2016 | 2017 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,798 | €382,456 | €9,682 | €279 | ▼ 97.1% |
| Gross operating margin9900 | €94,126 | €636,083 | €178,661 | €45,830 | ▼ 74.3% |
| Operating profit (loss)9901 | €38,697 | €227,934 | €168,250 | €10,334 | ▼ 93.9% |
| Recurring financial income75 | €10,003 | €175,846 | €27 | €8 | ▼ 69.1% |
| Recurring financial charges65 | €49,179 | €89,921 | €125,316 | €47,670 | ▼ 62.0% |
| Profit (loss) for the period before taxes9903 | -€479 | €158,859 | €5,113 | -€37,328 | - |
| Income taxes67/77 | -€3,999 | €9,993 | €455 | -€4 | - |
| Profit (loss) for the period9904 | €3,521 | €148,866 | €4,658 | -€37,324 | - |
| Profit (loss) for the period to be appropriated9905 | €3,521 | €148,866 | €4,658 | -€37,324 | - |
| Line | 2013 | 2015 | 2016 | 2017 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.2m | €0.4m | €0.5m | €0.1m | ▼ 72.2% |
| Fixed assets21/28 | €0.8m | €0.3m | €0.4m | €0.02m | ▼ 94.5% |
| Tangible fixed assets22/27 | €0.7m | €0.3m | €0.4m | €0.001m | ▼ 99.9% |
| Financial fixed assets28 | €0.1m | €0.02m | €0.02m | €0.02m | = |
| Current assets29/58 | €0.4m | €0.1m | €0.07m | €0.1m | ▲ 57.1% |
| Amounts receivable within one year40/41 | €0.4m | €0.06m | €0.04m | €0.1m | ▲ 190% |
| Cash at bank and in hand54/58 | €0.006m | €0.04m | €0.04m | €0.004m | ▼ 87.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.2m | €0.4m | €0.5m | €0.1m | ▼ 72.2% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 21.5% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | - | - | - | -€0.04m | - |
| Amounts payable17/49 | €0.9m | €0.2m | €0.3m | €0.002m | ▼ 99.4% |
| Amounts payable after more than one year17 | €0.6m | €0.2m | - | - | - |
| Amounts payable within one year42/48 | €0.4m | €0.03m | €0.3m | €0.002m | ▼ 99.4% |
| Trade debts44 | €0.02m | €0.009m | €0.003m | €487 | ▼ 84.2% |
| Line | 2013 | 2015 | 2016 | 2017 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,521 | €148,866 | €4,658 | -€37,324 | - |
| + Depreciation and write-downs630 | €32,798 | €382,456 | €9,682 | €279 | ▼ 97.1% |
| Operating cash flow (approximation) | €36,319 | €531,322 | €14,340 | -€37,045 | - |
| Investment in fixed assets (approximation) | - | - | -€133,262 | €400,000 | - |
| Change in cash | - | - | -€286 | -€30,607 | ▼ 10,600% |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2017 | micro format | 24-04-2018 | 2018-10700130 | |
| 30-09-2016 | abbreviated format | 24-04-2017 | 2017-09900468 | |
| 30-09-2015 | abbreviated format | 21-04-2016 | 2016-10300248 | |
| 31-12-2013 | abbreviated format | 20-06-2014 | 2014-20100497 | |
| 31-12-2012 | abbreviated format | 08-08-2013 | 2013-40800537 | |
| 31-12-2011 | abbreviated format | 19-06-2012 | 2012-19000505 | |
| 31-12-2010 | abbreviated format | 19-08-2011 | 2011-41300260 | |
| 31-12-2009 | abbreviated format | 24-06-2010 | 2010-21600529 | |
| 31-12-2008 | abbreviated format | 24-06-2009 | 2009-29300104 | |
| 31-12-2007 | abbreviated format | 26-08-2008 | 2008-62700184 |