NATAN
ActiveSummary
NATAN has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €6.0m and a net result of €582,312. Equity remains stable across the filed financial years (±1.5% per year). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2026, full format
In the rankings
#2 company by total assets in the Brussels-Capital Region, Clothing sector#2 company by equity in the Brussels-Capital Region, Clothing sector#5 company by staff growth in Belgium, Clothing sector
2026 annual accounts filed late (30 days) Filed on 30 September 2026, deadline 31 August 2026 (7 months after the close on 31 January 2026, Companies Code art. 3:10). Source: NBB, 2026-00547310.
Turnover
€18.1m▲ 5.9%
2025 · €17.1m
EBIT margin
5.5%▲ 1.4pp
2025 · 4.1%
Net result
€582,312▲ 127%
2025 · €256,496
Working capital
€6.5m▲ 8.1%
2025 · €6.0m
Trend over the years
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result recovers in 2026; 2026 is 41% above 2025.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€18.1m
2026
Operating result€1.0m
2026
Net result€0.6m
2026
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€13.2m
2026
Equity€6.0m
2026
Debt€7.2m
2026
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€6.5m
2026
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin5.5%
2026
Return on assets (ROA)4.4%
2026
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency45.6%
2026
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.36
2026
Average staff in full-time equivalents (FTE).
Staff (FTE)55.6
2026
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 14, Manufacture of wearing apparel: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Turnover€11.8m-€11.1m▼ 5.4%€8.7m▼ 21.8%€10.1m▲ 16.3%€13.9m▲ 37.3%€16.1m▲ 16.1%€17.1m▲ 6.1%€18.1m▲ 5.9%
Operating result€0.9m-€0.2m▼ 71.5%-€0.4m€0.2m€1.0m▲ 536%€1.3m▲ 27.2%€0.7m▼ 46.5%€1.0m▲ 40.9%
Net result€0.5m-€0.1m▼ 72.3%-€0.5mbelow the sector's middle half€0.05mwithin the sector's middle half€0.8mwithin the sector's middle half▲ 1,597%€0.9mabove the sector's middle half▲ 13.6%€0.3mwithin the sector's middle half▼ 70.8%€0.6m▲ 127%
EBIT margin7.3%-2.2%▼ 5.1pp-4.4%▼ 6.7pp1.6%▲ 6.1pp7.5%▲ 5.9pp8.2%▲ 0.7pp4.1%▼ 4.1pp5.5%▲ 1.4pp
Equity€5.4m-€5.5m▲ 1.5%€5.1mabove the sector's middle half▼ 8.5%€5.0mabove the sector's middle half▼ 0.4%€5.7mwithin the sector's middle half▲ 12.7%€5.6mwithin the sector's middle half▼ 1.6%€5.8mabove the sector's middle half▲ 3.4%€6.0m▲ 4.6%
Total assets€9.5m-€9.6m▲ 1.0%€9.1mwithin the sector's middle half▼ 5.3%€8.8mwithin the sector's middle half▼ 3.3%€10.8mwithin the sector's middle half▲ 22.9%€11.5mwithin the sector's middle half▲ 6.5%€12.7mabove the sector's middle half▲ 10.0%€13.2m▲ 4.2%
Debt€4.0m-€4.0m▲ 0.9%€4.0m▼ 1.2%€3.8m▼ 5.2%€5.2m▲ 36.4%€6.0m▲ 15.4%€6.9m▲ 16.1%€7.2m▲ 3.9%
Working capital€4.1m-€4.8m▲ 17.8%€4.4mabove the sector's middle half▼ 8.6%€4.0mabove the sector's middle half▼ 8.4%€5.9mabove the sector's middle half▲ 46.7%€5.8mabove the sector's middle half▼ 1.2%€6.0mabove the sector's middle half▲ 2.8%€6.5m▲ 8.1%
Solvency57.1%-57.3%▲ 0.3pp55.4%within the sector's middle half▼ 2.0pp57.0%within the sector's middle half▲ 1.6pp52.3%within the sector's middle half▼ 4.7pp48.3%within the sector's middle half▼ 4.0pp45.4%within the sector's middle half▼ 2.9pp45.6%▲ 0.2pp
Current ratio2.35-2.81▲ 0.462.59within the sector's middle half▼ 0.222.33within the sector's middle half▼ 0.262.79above the sector's middle half▲ 0.452.55above the sector's middle half▼ 0.242.32within the sector's middle half▼ 0.232.36▲ 0.04
Return on assets (ROA)5.6%-1.5%▼ 4.1pp-5.2%below the sector's middle half▼ 6.7pp0.5%within the sector's middle half▲ 5.7pp7.1%within the sector's middle half▲ 6.6pp7.6%within the sector's middle half▲ 0.5pp2.0%within the sector's middle half▼ 5.6pp4.4%▲ 2.4pp
Staff (FTE)44.5-44▼ 1.1%43.8within the sector's middle half▼ 0.5%40.2within the sector's middle half▼ 8.2%46▲ 14.4%50.4▲ 9.6%53.1above the sector's middle half▲ 5.4%55.6▲ 4.7%
above
within
below
the middle half of NACE 14, Manufacture of wearing apparel: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €13.2m
Fixed assets
€2.0m ▼ 8.3%
Current assets
€11.2m ▲ 6.9%
Equity and liabilities €13.2m
Equity
€6.0m ▲ 4.6%
Debt
€7.2m ▲ 3.9%
Debt's share of the balance-sheet total falls from 54.6% to 54.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.4m▲
2025 · €1.1m
Cash flow
€973,110▲
2025 · €611,307
Quick ratio
1.13▲
2025 · 1.00
Debt to equity
1.19▼
2025 · 1.20
ROE
9.7%▲
2025 · 4.4%
Interest coverage
13.24▲
2025 · 10.37
Debt ≤ 1 year
€4.8m▲
2025 · €4.5m
Debt > 1 year
€331,496▼
2025 · €810,469
Income taxes
€67,999▼
2025 · €133,635
Staff costs
€3.9m▲
2025 · €3.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,887 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97.9% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
97.9%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,887 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €10.3m | €14.0m | €16.4m | €17.2m | €18.2m | ▲ 5.7% |
| Turnover70 | €11.8m | €11.1m | €8.7m | €10.1m | €13.9m | €16.1m | €17.1m | €18.1m | ▲ 5.9% |
| Other operating income74 | - | - | - | €0.2m | €0.1m | €0.2m | €0.08m | €0.05m | ▼ 36.9% |
| Non-recurring operating income76A | - | - | - | €0.02m | €0 | €0.09m | €0.004m | €0 | ▼ 100% |
| Operating charges60/66A | - | - | - | €10.2m | €13.0m | €15.1m | €16.5m | €17.2m | ▲ 4.2% |
| Goods for resale, raw materials and consumables60 | - | - | - | €4.1m | €5.7m | €6.7m | €7.8m | €7.9m | ▲ 1.6% |
| Purchases600/8 | - | - | - | €4.0m | €7.0m | €8.2m | €7.8m | €7.8m | ▼ 0.5% |
| Change in stocks: decrease (increase)609 | - | - | - | €0.09m | -€1.3m | -€1.4m | -€0.05m | €0.1m | - |
| Services and other goods61 | - | - | - | €3.5m | €3.8m | €3.5m | €4.5m | €4.9m | ▲ 9.7% |
| Remuneration, social security and pensions62 | - | - | - | €2.2m | €3.2m | €3.5m | €3.8m | €3.9m | ▲ 2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.003m | €0.003m | €0 | - | -€0.003m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.07m | €0 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.06m | €0.03m | €0.07m | €0.03m | €0.03m | ▲ 2.9% |
| Non-recurring operating charges66A | - | - | - | €0.05m | €0.02m | €0.8m | €0.02m | €0 | ▼ 100% |
| Operating profit (loss)9901 | €0.9m | €0.2m | -€0.4m | €0.2m | €1.0m | €1.3m | €0.7m | €1.0m | ▲ 40.9% |
| Financial income75/76B | - | - | - | €0.005m | €0.03m | €0.02m | €0.01m | €0.04m | ▲ 241% |
| Recurring financial income75 | €0.01m | €0.01m | €0.07m | €0.005m | €0.03m | €0.02m | €0.01m | €0.04m | ▲ 241% |
| Income from current assets751 | - | - | - | - | - | - | €0.003m | €0.02m | ▲ 690% |
| Other financial income752/9 | - | - | - | €0.005m | €0.03m | €0.02m | €0.008m | €0.01m | ▲ 73.0% |
| Non-recurring financial income76B | - | - | - | €0 | €3 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €0.1m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 16.7% |
| Recurring financial charges65 | €0.2m | €0.1m | €0.1m | €0.1m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 16.7% |
| Debt charges650 | €0.07m | €0.06m | €0.06m | €0.06m | €0.03m | €0.03m | €0.1m | €0.1m | ▲ 2.3% |
| Other financial charges652/9 | - | - | - | €0.07m | €0.2m | €0.3m | €0.2m | €0.3m | ▲ 23.3% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.1m | -€0.4m | €0.04m | €0.8m | €1.1m | €0.4m | €0.7m | ▲ 66.7% |
| Income taxes67/77 | €0.2m | -€0.02m | €0.02m | -€0.006m | €0.03m | €0.2m | €0.1m | €0.07m | ▼ 49.1% |
| Taxes670/3 | - | - | - | €0.006m | €0.04m | €0.2m | €0.1m | €0.07m | ▼ 49.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.01m | €0.006m | €0 | - | - | - |
| Profit (loss) for the period9904 | €0.5m | €0.1m | -€0.5m | €0.05m | €0.8m | €0.9m | €0.3m | €0.6m | ▲ 127% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.04m | €0 | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €0.5m | €0.4m | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.8m | -€0.5m | €0.08m | €0.8m | €0.4m | -€0.2m | €0.6m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €9.5m | €9.6m | €9.1m | €8.8m | €10.8m | €11.5m | €12.7m | €13.2m | ▲ 4.2% |
| Formation expenses20 | - | - | €0.03m | €0.01m | €250 | €0 | - | - | - |
| Fixed assets21/28 | €2.5m | €2.2m | €2.0m | €1.8m | €1.7m | €2.0m | €2.2m | €2.0m | ▼ 8.3% |
| Intangible fixed assets21 | €0.02m | €0.09m | €0.09m | €0.06m | €0.04m | €0.04m | €0.1m | €0.1m | ▲ 41.1% |
| Tangible fixed assets22/27 | €2.4m | €2.1m | €1.8m | €1.7m | €1.6m | €1.9m | €2.1m | €1.9m | ▼ 10.7% |
| Plant, machinery and equipment23 | - | - | - | €0.004m | €0.007m | €0.01m | €0.1m | €0.1m | ▼ 0.2% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.2m | €0.3m | €0.4m | €0.3m | ▼ 13.0% |
| Leasing and similar rights25 | - | - | - | €1.1m | €1.0m | €0 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.4m | €0.3m | €1.6m | €1.6m | €1.4m | ▼ 11.1% |
| Financial fixed assets28 | €0.04m | €0.04m | €0.06m | €0.06m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Other financial fixed assets284/8 | - | - | - | €0.06m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.06m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Current assets29/58 | €7.1m | €7.4m | €7.1m | €7.0m | €9.2m | €9.6m | €10.5m | €11.2m | ▲ 6.9% |
| Stocks and contracts in progress3 | €2.6m | €2.7m | €3.2m | €3.1m | €4.5m | €5.9m | €6.0m | €5.9m | ▼ 1.9% |
| Stocks30/36 | - | - | - | €3.1m | €4.5m | €5.9m | €6.0m | €5.9m | ▼ 1.9% |
| Goods purchased for resale34 | - | - | - | €3.1m | €4.5m | €5.9m | €6.0m | €5.9m | ▼ 1.9% |
| Amounts receivable within one year40/41 | €1.4m | €1.2m | €1.3m | €1.2m | €2.2m | €1.7m | €2.2m | €2.8m | ▲ 26.9% |
| Trade receivables40 | - | - | - | €1.2m | €2.2m | €1.6m | €2.0m | €2.5m | ▲ 25.0% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.01m | €0.06m | €0.2m | €0.2m | ▲ 52.0% |
| Current investments50/53 | €0.2m | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 7.8% |
| Own shares50 | - | - | - | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 7.8% |
| Cash at bank and in hand54/58 | €2.4m | €2.3m | €1.3m | €1.5m | €1.1m | €0.5m | €0.6m | €0.9m | ▲ 45.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.3m | €0.6m | €0.8m | €1.1m | €1.1m | ▲ 1.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €9.5m | €9.6m | €9.1m | €8.8m | €10.8m | €11.5m | €12.7m | €13.2m | ▲ 4.2% |
| Equity10/15 | €5.4m | €5.5m | €5.1m | €5.0m | €5.7m | €5.6m | €5.8m | €6.0m | ▲ 4.6% |
| Contributions10/11 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €1.2m | €1.2m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €1.2m | €1.2m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €4.3m | €4.4m | €3.9m | €3.9m | €4.5m | €5.3m | €5.5m | €5.8m | ▲ 4.8% |
| Non-distributable reserves130/1 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Own shares acquired1312 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Tax-exempt reserves132 | - | - | - | €0 | - | €0.5m | €0.9m | €0.9m | = |
| Distributable reserves133 | - | - | - | €2.7m | €3.4m | €3.6m | €3.4m | €3.7m | ▲ 7.8% |
| Provisions and deferred taxes16 | €0.08m | €0.06m | €0.07m | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0 | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0 | - | - | - | - | - |
| Amounts payable17/49 | €4.0m | €4.0m | €4.0m | €3.8m | €5.2m | €6.0m | €6.9m | €7.2m | ▲ 3.9% |
| Amounts payable after more than one year17 | €0.9m | €1.3m | €1.1m | €0.7m | €0.4m | €0.5m | €0.8m | €0.3m | ▼ 59.1% |
| Financial debts170/4 | - | - | - | €0.7m | €0.4m | €0.5m | €0.8m | €0.3m | ▼ 59.1% |
| Leasing and similar obligations172 | - | - | - | €0.08m | €0 | - | - | - | - |
| Credit institutions173 | - | - | - | €0.4m | €0.2m | €0.07m | €0.4m | €0.1m | ▼ 68.0% |
| Other loans174 | - | - | - | €0.2m | €0.2m | €0.4m | €0.4m | €0.2m | ▼ 50.0% |
| Amounts payable within one year42/48 | €3.0m | €2.6m | €2.8m | €3.0m | €3.3m | €3.8m | €4.5m | €4.8m | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.3m | €0.2m | €0.3m | €0.4m | ▲ 20.6% |
| Financial debts43 | - | - | - | - | - | - | €1.3m | €1.3m | ▲ 2.9% |
| Credit institutions430/8 | - | - | - | - | - | - | €1.3m | €1.3m | ▲ 2.9% |
| Trade debts44 | €1.2m | €1.1m | €1.0m | €1.1m | €1.9m | €2.2m | €1.7m | €1.8m | ▲ 4.7% |
| Suppliers440/4 | - | - | - | €1.1m | €1.9m | €2.2m | €1.7m | €1.8m | ▲ 4.7% |
| Advances received on contracts in progress46 | - | - | - | €0.9m | €0.3m | €0.2m | €0.2m | €0.02m | ▼ 90.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.5m | €0.6m | €0.7m | €0.7m | €0.8m | ▲ 8.9% |
| Taxes450/3 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 13.6% |
| Remuneration and social security454/9 | - | - | - | €0.4m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 27.7% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.5m | €0.3m | €0.5m | ▲ 70.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €1.4m | €1.8m | €1.6m | €2.1m | ▲ 32.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.5m | €0.1m | -€0.5m | €0.05m | €0.8m | €0.9m | €0.3m | €0.6m | ▲ 127% |
| + Depreciation and write-downs630 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 10.1% |
| Operating cash flow (approximation) | €1.0m | €0.6m | -€0.1m | €0.4m | €1.1m | €1.2m | €0.6m | €1.0m | ▲ 59.2% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€0.1m | -€0.2m | -€0.2m | -€0.7m | -€0.6m | -€0.2m | ▲ 64.0% |
| Change in cash | - | -€0.1m | -€1.0m | €0.2m | -€0.5m | -€0.6m | €0.2m | €0.3m | ▲ 84.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 42 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-01-2026 | full format | 30-09-2026 | 2026-00547310 |
| 31-01-2025 | full format | 30-09-2025 | 2025-00523785 |
| 31-01-2024 | full format | 23-10-2024 | 2024-00512474 |
| 31-01-2023 | full format | 31-10-2023 | 2023-00500549 |
| 31-01-2022 | full format | 19-01-2023 | 2023-00002969 |
| 31-01-2021 | full format | 30-11-2021 | 2021-79100100 |
| 31-01-2020 | full format | 22-12-2020 | 2020-76600346 |
| 31-01-2019 | full format | 30-09-2019 | 2019-67900078 |
| 31-01-2018 | full format | 31-08-2018 | 2018-60500224 |
| 31-01-2017 | full format | 31-08-2017 | 2017-59700479 |
Similar companies · same sector, comparable size
REGENERATION
BE 0675.962.514
Dilbeek · equity €5.9m
JARDINICO CUSHIONS
BE 0405.413.478
Avelgem · equity €5.1m
Caroline
BE 0400.278.715
Lebbeke · equity €7.2m
Etablissementen Van Moer
BE 0403.629.965
Hulshout · equity €7.4m
J. VAN DER ELST
BE 0459.017.163
Aalter · equity €4.6m
Of the 1,071 active companies whose main activity is manufacture of outerwear (NACE 14210), figures are known for 210. 52 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.