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Financials · financial year 2016, full format

Annual accounts 2016 filed on 11-07-2017 PDF all 16 filings

Turnover

€3.7m▼ 27.9%

2015 · €5.1m

EBIT margin

1.6%▼ 6.4pp

2015 · 8.0%

Net result

€25,683▼ 91.0%

2015 · €286,902

Working capital

€363,514▼ 8.0%

2015 · €395,260

Multi-year overview

2012 to 2016, 5 financial years

Turnover

€3.7m

▼ 27.9% 2016

20122016

Operating result

€58,364

▼ 85.6% 2016

20122016

Net result

€25,683

▼ 91.0% 2016

20122016

EBIT margin

1.6%

▼ 6.4pp 2016

20122016

Equity

€586,116

▲ 1.9% 2016

20122016

Total assets

€2.2m

▲ 11.3% 2016

20122016

Debt

€1.6m

▲ 15.1% 2016

20122016

Working capital

€363,514

▼ 8.0% 2016

20122016

Staff (FTE)

▼ 2.3% 2016

20122016

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line20122013201420152016

Turnover€2.7m-€2.6m▼ 2.1%€4.2m▲ 60.6%€5.1m▲ 21.0%€3.7m▼ 27.9%

Operating result€0.03m-€0.1m▲ 290%€0.6m▲ 362%€0.4m▼ 35.6%€0.06m▼ 85.6%

Net result-€0.04m-€0.08m€0.5m▲ 505%€0.3m▼ 37.2%€0.03m▼ 91.0%

EBIT margin1.3%-5.2%▲ 3.9pp15.0%▲ 9.8pp8.0%▼ 7.0pp1.6%▼ 6.4pp

Equity€0.1m-€0.2m▲ 51.3%€0.4m▲ 155%€0.6m▲ 37.8%€0.6m▲ 1.9%

Total assets€1.2m-€1.1m▼ 12.1%€3.0m▲ 180%€2.0m▼ 33.2%€2.2m▲ 11.3%

Debt€1.1m-€0.9m▼ 18.3%€2.6m▲ 185%€1.4m▼ 44.8%€1.6m▲ 15.1%

Working capital-€0.1m--€0.006m▲ 93.4%€0.2m€0.4m▲ 74.1%€0.4m▼ 8.0%

Staff (FTE)7.8-10.3▲ 32.1%12.7▲ 23.3%13.3▲ 4.7%13▼ 2.3%

The operating result for 2016 is 86% lower than in 2015 and the lowest since 2012. It is the second fall in a row.

Balance-sheet composition

2016 in colour, 2015 as the grey bar beneath

Assets €2.2m

10%

90.0%

Fixed assets €221,036 ▲ 17.6%

Current assets €2.0m ▲ 10.5%

Equity and liabilities €2.2m

26.4%

73.6%

Equity €586,116 ▲ 1.9%

Debt €1.6m ▲ 15.1%

Debt's share of the balance-sheet total rises from 71.2% to 73.6%. Equity and debt are higher.

Key figures and ratios

2016 value · change against 2015

EBITDA

€124,447▼

2015 · €462,101

Cash flow

€91,766▼

2015 · €344,238

Current ratio

1.22▼

2015 · 1.28

Quick ratio

1.11▲

2015 · 1.11

ROE

4.4%▼

2015 · 49.9%

ROA

1.2%▼

2015 · 14.4%

Interest coverage

11.01▼

2015 · 24.73

Debt ≤ 1 year

€1.6m▲

2015 · €1.4m

Income taxes

€20,615▼

2015 · €100,529

Customer credit

135 days▲

2015 · 99 days

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Revenue breakdown

as filed

By activity 2011

Verkopen hard- en software €2,510,334100.0%
Ontvangen commissies €1350.0%

Total €2,510,469

Source: 2011 accounts, page 18, filing 2012-29200427

By geographic market 2011

Omzet Europa €88,070100.0%

Source: 2011 accounts, page 18, filing 2012-29200427

All years (2007 to 2011)

By activity

By activity	2007	2008	2010	2011
Verkopen hard- en software	€1,489,376	€1,759,365	€2,127,536	€2,510,334
Ontvangen commissies	-	-	€1,955	€135
Huurgelden	-	-	€4,000	€0
Total	€1,489,376	€1,759,365	€2,133,491	€2,510,469

By geographic market

By geographic market	2007	2008	2011
Omzet Europa	-	-	€88,070
Omzet België	€1,497,842	€1,759,984	-
Total	€1,497,842	€1,759,984	€88,070

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2016 against 2015 · 27 lines

Balance sheet Code20152016

Assets

Total assets20/58€2.0m€2.2m▲

Formation expenses20-€0.002m

Fixed assets21/28€0.2m€0.2m▲

Intangible fixed assets21€0.1m€0.1m▲

Tangible fixed assets22/27€0.07m€0.09m▲

Current assets29/58€1.8m€2.0m▲

Stocks and contracts in progress3€0.2m€0.2m▼

Amounts receivable within one year40/41€1.4m€1.4m▼

Cash at bank and in hand54/58€0.1m€0.4m▲

Equity and liabilities

Total equity and liabilities10/49€2.0m€2.2m▲

Equity10/15€0.6m€0.6m▲

Contributions10/11€0.2m€0.2m=

Reserves13€0.02m€0.02m=

Profit (loss) carried forward14€0.4m€0.4m▲

Amounts payable17/49€1.4m€1.6m▲

Amounts payable within one year42/48€1.4m€1.6m▲

Trade debts44€1.0m€0.5m▼

Income statement Code20152016

Turnover70€5.1m€3.7m▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.06m€0.07m▲

Operating profit (loss)9901€0.4m€0.06m▼

Recurring financial income75€0.001m€3▼

Recurring financial charges65€0.02m€0.01m▼

Debt charges650€0.02m€0.01m▼

Profit (loss) for the period before taxes9903€0.4m€0.05m▼

Income taxes67/77€0.1m€0.02m▼

Profit (loss) for the period9904€0.3m€0.03m▼

Profit (loss) for the period to be appropriated9905€0.3m€0.03m▼

Source: Annual accounts 2016 (PDF), filed on 11-07-2017.

Line	2012	2013	2014	2015	2016	Change
Turnover70	€2.7m	€2.6m	€4.2m	€5.1m	€3.7m	▼ 27.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.09m	€0.09m	€0.07m	€0.06m	€0.07m	▲ 15.3%
Operating profit (loss)9901	€0.03m	€0.1m	€0.6m	€0.4m	€0.06m	▼ 85.6%
Recurring financial income75	€0.001m	€489	€174	€0.001m	€3	▼ 99.4%
Recurring financial charges65	€0.02m	€0.02m	€0.02m	€0.02m	€0.01m	▼ 39.6%
Debt charges650	€0.02m	€0.02m	€0.02m	€0.02m	€0.01m	▼ 39.5%
Profit (loss) for the period before taxes9903	-€0.04m	€0.1m	€0.6m	€0.4m	€0.05m	▼ 88.1%
Income taxes67/77	€0.002m	€0.04m	€0.2m	€0.1m	€0.02m	▼ 79.5%
Profit (loss) for the period9904	-€0.04m	€0.08m	€0.5m	€0.3m	€0.03m	▼ 91.0%
Profit (loss) for the period to be appropriated9905	-€0.04m	€0.08m	€0.5m	€0.3m	€0.03m	▼ 91.0%

Line	2012	2013	2014	2015	2016	Change
Assets
Total assets20/58	€1.2m	€1.1m	€3.0m	€2.0m	€2.2m	▲ 11.3%
Formation expenses20	-	-	-	-	€0.002m	-
Fixed assets21/28	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	▲ 17.6%
Intangible fixed assets21	€0.1m	€0.1m	€0.08m	€0.1m	€0.1m	▲ 14.9%
Tangible fixed assets22/27	€0.07m	€0.07m	€0.1m	€0.07m	€0.09m	▲ 22.1%
Financial fixed assets28	€0.003m	€0.003m	€0.003m	-	-	-
Current assets29/58	€1.0m	€0.9m	€2.8m	€1.8m	€2.0m	▲ 10.5%
Stocks and contracts in progress3	€0.07m	€0.2m	€0.1m	€0.2m	€0.2m	▼ 28.3%
Amounts receivable within one year40/41	€0.6m	€0.6m	€2.3m	€1.4m	€1.4m	▼ 2.3%
Cash at bank and in hand54/58	€0.3m	€0.2m	€0.03m	€0.1m	€0.4m	▲ 324%
Equity and liabilities
Total equity and liabilities10/49	€1.2m	€1.1m	€3.0m	€2.0m	€2.2m	▲ 11.3%
Equity10/15	€0.1m	€0.2m	€0.4m	€0.6m	€0.6m	▲ 1.9%
Contributions10/11	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	=
Reserves13	-	€0.001m	€0.02m	€0.02m	€0.02m	=
Profit (loss) carried forward14	-€0.05m	€0.001m	€0.2m	€0.4m	€0.4m	▲ 2.7%
Amounts payable17/49	€1.1m	€0.9m	€2.6m	€1.4m	€1.6m	▲ 15.1%
Amounts payable within one year42/48	€1.1m	€0.9m	€2.6m	€1.4m	€1.6m	▲ 15.7%
Trade debts44	€0.6m	€0.3m	€1.0m	€1.0m	€0.5m	▼ 54.9%

Line	2012	2013	2014	2015	2016	Change
Profit (loss) for the period9904	-€40,203	€75,511	€456,909	€286,902	€25,683	▼ 91.0%
+ Depreciation and write-downs630	€88,065	€91,654	€66,990	€57,336	€66,083	▲ 15.3%
Operating cash flow (approximation)	€47,863	€167,165	€523,899	€344,238	€91,766	▼ 73.3%
Investment in fixed assets (approximation)	-	-€56,219	-€87,381	-€54,807	-€99,176	▼ 81.0%
Change in cash	-	-€159,217	-€126,475	€69,609	€326,150	▲ 369%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 16 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2016	full format	11-07-2017	2017-30500171	PDF
31-12-2015	full format	11-07-2016	2016-31600048	PDF
31-12-2014	full format	22-07-2015	2015-33300113	PDF
31-12-2013	full format	10-07-2014	2014-30100365	PDF
31-12-2012	full format	16-07-2013	2013-31600152	PDF
31-12-2011	full format	12-07-2012	2012-29200427	PDF
31-12-2010	full format	14-07-2011	2011-28400247	PDF
31-12-2009	full format	30-07-2010	2010-36700584	PDF
31-12-2008	full format	13-07-2009	2009-39600202	PDF
31-12-2007	abbreviated format	18-07-2008	2008-42200157	PDF

Show all 16 filings