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OFFREA

Absorbed by Overnemende vennootschap KBO/BCE: BE 0809.411.946 subsidiary of SOLVARI HOLDING BV
OFFREA
Financial year 2023
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Annual accounts 2023

abbreviated format, filed on 25-06-2024, 36 days before the deadline
Gross margin
€1.6m
▼ 6.2%
Operating result
€181,202
▼ 65.1%
Profit
€435,089
▲ 11.9%
Working capital
€527,163
▼ 58.9%
Solvency
32.3%
▲ 26.8 percentage points
Current ratio
1.46
▼ 1.31

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €2.7m. Estimated: probably between €1.8m and €4.5m.

Balance sheet

balance sheet total €1.7m on 31-12-2023
What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Staff

Staff cost per FTE€72,772

Staff costs divided by the average number of full-time equivalents.

Joined and left-4

Training hours in 2023: 310.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20232022202120202019201820172016201520142013201220112010
Balance sheet: assets
Total assets20/58 1.7m2.0m1.4m919,438778,347765,991935,2091.2m682,730458,820358,836419,390371,642341,917
Fixed assets21/28 19,30314,93217,08327,11245,382267,548212,634201,883207,422213,052219,040228,772249,319258,010
Intangible fixed assets21 --032230,50061,000----7201,440--
Tangible fixed assets22/27 19,30314,93217,08326,78914,882206,423212,509198,101207,422213,052218,320227,332249,319258,010
Land and buildings22 ----0184,239190,533196,826203,120209,413215,707222,000228,294234,587
Furniture and vehicles24 9,6979,2738,80216,51813,91019,99618,3301,2754,3033,6392,6135,33221,02523,422
Other tangible fixed assets26 9,6065,6598,28110,2719722,1883,646-------
Financial fixed assets28 ----01251253,782------
Current assets29/58 1.7m2.0m1.4m892,326732,965498,443722,575988,052475,307245,768139,797190,618122,32383,908
Amounts receivable within one year40/41 1.6m1.9m833,841456,627432,377392,990474,953745,907341,500197,800115,418131,70075,52759,683
Trade receivables40 827,633781,241830,590430,014417,273374,450406,050744,029341,500197,800114,908131,70074,96559,605
Other amounts receivable41 733,7261.1m3,25126,61315,10518,54068,9031,878--510-56278
Current investments50/53 -0307,500200,000184,097---------
Cash at bank and in hand54/58 90,37487,230200,829229,611101,84798,155245,252240,749133,80747,96822,26858,28746,79624,225
Deferred charges and accrued income490/1 20,1515,3077,9296,08814,6447,2982,3701,396--2,110631--
Balance sheet: equity and liabilities
Total equity and liabilities10/49 1.7m2.0m1.4m919,438778,347765,991935,2091.2m682,730458,820358,836419,390371,642341,917
Equity10/15 546,467111,378817,915434,501333,778141,408124,13378,97746,91932,746-45,38344,07538,66619,692
Contributions10/11 18,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
Issued capital100 ----18,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
Reserves13 1,8601,86066,69867,76968,0561,8601,8601,8601,8601,8601,8601,8601,8601,092
Non-distributable reserves130/1 1,8601,8601,8601,860----------
Legal reserve130 ----1,8601,8601,8601,8601,8601,8601,8601,8601,8601,092
Reserves not available under the articles1311 1,8601,8601,8601,860----------
Tax-exempt reserves132 -064,83865,90966,196---------
Profit (loss) carried forward14 526,00790,918732,618348,132247,123120,948103,67358,51726,45912,286-65,84323,61518,206-
Provisions and deferred taxes16 -021,61321,97022,06576,833185,386479,011183,25951,363----
Provisions for liabilities and charges160/5 ----076,833185,386479,011183,25951,363----
Environmental obligations163 ----076,833185,386157,625------
Other liabilities and charges164/5 -------321,387------
Deferred taxes168 -021,61321,97022,065---------
Amounts payable17/49 1.1m1.9m527,654462,967422,504547,751625,690631,946452,552374,711404,219375,316332,976322,226
Amounts payable after more than one year17 --03525,402169,182195,435204,618184,729196,169206,914220,952234,494247,558
Financial debts170/4 --03525,402169,182195,435204,618184,729196,169206,914220,952234,494247,558
Amounts payable within one year42/48 1.1m725,975527,654462,615417,102378,569430,255427,328267,824178,542197,306154,36498,48274,667
Current portion of amounts payable after more than one year42 -03525,04914,46750,811149,24521,31311,28122,51719,02713,54213,06412,603
Financial debts43 16,66716,77737,18936,05379,698---------
Credit institutions430/8 16,66716,77737,18936,05379,698---------
Trade debts44 513,499350,516153,761228,015173,954131,695159,869174,978140,49786,172139,21487,43330,16118,959
Suppliers440/4 513,499350,516153,761228,015173,954131,695159,869174,978140,49786,172139,21487,43330,16118,959
Advances received on contracts in progress46 -------1,718------
Taxes, remuneration and social security45 248,462358,682336,352191,906148,583195,884118,936227,372113,78767,47837,42549,05953,61440,411
Taxes450/3 155,944281,877188,41942,87528,05475,314-114,30726,07519,5694,24019,64029,31021,595
Remuneration and social security454/9 92,51876,805147,933149,031120,530120,571118,936113,06587,71347,90933,18529,41924,30418,816
Other amounts payable47/48 366,093-01,5913991782,2051,9472,2592,3751,6394,3291,6432,694
Accrued charges and deferred income492/3 01.2m------------
Income statement
Non-recurring operating income76A 6,264-02888,261---------
Gross operating margin9900 1.6m1.7m1.7m1.0m1.1m976,002783,1221.2m715,875462,100148,701221,086199,217138,122
Remuneration, social security and pensions62 1.2m833,7571.1m869,126865,873840,115753,283796,755525,914304,781217,699181,297139,580105,166
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 8,8588,1387,69542,80839,85747,16417,2729,3229,45310,4349,73310,11314,28022,227
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 27,577107,10231,7241,576-20,345100,629191,219-------
Provisions for liabilities and charges: additions (uses and reversals)635/8 ---0-76,833-108,554-293,625295,753131,89651,363----
Other operating charges640/8 198,556223,90224,16910,52714,7352,6425927855796665755,144593143
Non-recurring operating charges66A -06,7300884-------65-
Operating profit (loss)9901 181,202519,448504,53096,850253,37394,005114,38097,01748,03494,855-79,30524,53244,76410,587
Financial income75/76B 74,57557,64970,73991,55364,3814691,6623,6006,3874,5724365821,366160
Recurring financial income75 74,57557,64970,73991,55364,3814691,6623,6006,3874,5724365821,366160
Financial charges65/66B 12,20327,13634,97434,63933,49428,34928,24726,39516,54410,00010,51811,49413,1145,028
Recurring financial charges65 12,20327,13634,97434,63933,49428,34928,24726,39516,54410,00010,51811,49413,1145,028
Profit (loss) for the period before taxes9903 243,575549,961540,294153,764284,26066,12687,79574,22237,87889,427-89,38713,62032,9515,719
Transfer from deferred taxes780 021,613357-----------
Income taxes67/77 -191,514182,722157,23753,13669,82548,85042,64042,16423,70511,299718,21213,9774,627
Profit (loss) for the period9904 435,089388,852383,414100,723192,37017,27645,15532,05814,17378,129-89,4585,40818,9751,092
Transfer from tax-exempt reserves789 064,8381,071286----------
Transfer to tax-exempt reserves689 ---066,196---------
Profit (loss) for the period to be appropriated9905 435,089453,689384,486101,009126,17517,27645,15532,05814,17378,129-89,4585,40818,9751,092
Appropriation of the result
Profit (loss) to be appropriated9906 526,00790,918732,618348,132247,123120,948103,67358,51726,45912,286-65,84323,61518,9751,092
Profit (loss) brought forward from the previous period14P 90,918-362,771348,132-----------
Transfer to equity691/2 ------------7681,092
To the legal reserve6920 ------------7681,092
Social balance sheet
Average staff (FTE)9087 16.114.61815.412.612.311.513.895.55.24.42.52
Hours worked1013 25,59019,23727,82822,30320,92821,45318,96221,63713,6098,5387,6757,4074,4474,182
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2023 (PDF), filed on 25-06-2024.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2023 abbreviated format 25-06-2024 2024-00178879 PDF
31-12-2022 abbreviated format 02-08-2023 2023-00312128 PDF
31-12-2021 abbreviated format 21-06-2022 2022-20083796 PDF
31-12-2020 abbreviated format 30-08-2021 2021-59300141 PDF
31-12-2019 abbreviated format 18-09-2020 2020-54100511 PDF
31-12-2018 abbreviated format 31-07-2019 2019-40600253 PDF
31-12-2017 abbreviated format 28-09-2018 2018-65500037 PDF
31-12-2016 abbreviated format 28-09-2017 2017-63100122 PDF
31-12-2015 abbreviated format 30-09-2016 2016-62500199 PDF
31-12-2014 abbreviated format 24-07-2015 2015-34500592 PDF
31-12-2013 abbreviated format 29-07-2014 2014-36500213 PDF
31-12-2012 abbreviated format 22-07-2013 2013-33400053 PDF
31-12-2011 abbreviated format 13-07-2012 2012-29500334 PDF
31-12-2010 abbreviated format 30-08-2011 2011-46000173 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20232022202120202019201820172016201520142013201220112010
EBITDA 190,060527,586512,225139,658293,230141,170131,653106,33957,487105,289-69,57234,64559,04432,813
Cash flow 443,946396,989391,110143,531232,22764,44062,42841,38023,62688,563-79,72515,52133,25523,318
Investment in fixed assets (approximation) 13,2295,9864,39724,5372,056102,07831,6813,7823,8244,44704,1975,589280,236
Change in cash 3,144-113,599-28,783127,7653,691-147,0964,503106,94185,83925,700-36,01911,49122,571-
Working capital 527,1631.3m822,445429,711315,862119,875292,319560,724207,48367,226-57,50936,25423,8419,240
Solvency 32.3%5.5%59.8%47.3%42.9%18.5%13.3%6.6%6.9%7.1%-12.6%10.5%10.4%5.8%
Current ratio 1.462.772.561.931.761.321.682.311.771.380.711.231.241.12
Debt to equity 2.0917.170.651.071.273.875.048.009.6511.44-8.528.6116.36
ROE 79.6%349.1%46.9%23.2%57.6%12.2%36.4%40.6%30.2%238.6%-12.3%49.1%5.5%
ROA 25.7%19.2%28.0%11.0%24.7%2.3%4.8%2.7%2.1%17.0%-24.9%1.3%5.1%0.3%
Interest coverage 15.5719.4414.65-----------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202331-12-202231-12-2021
Employees at the balance-sheet date151918
full-time101010
part-time598
in full-time equivalents13.115.715.5
Average over the year, in full-time equivalents16.114.618
On a permanent contract151918
Joined7711
Left11614
Training hours310--

Source: social balance sheet in the 2021 to 2023 annual accounts

Investments

fixed assets acquired
Item202320222021
Tangible fixed assets€13,229€5,986€4,397
Depreciation and write-downs of the year€8,858€8,138€7,695

Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)

Insights on OFFREA

The operating result for 2023 is 65% lower than in 2022 and the lowest since 2020.

Debt's share of the balance-sheet total falls from 94.5% to 67.7%. Equity is higher and debt is lower.

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