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OLTEC

In bankruptcy Private limited companyfounded 1999Kruiseekstraat 6, 8810 LichterveldeKBO/BCE: BE 0466.299.685

Overview

Information for creditors

Enterprise Court of Ghent, Bruges division · Official Gazette of 12-08-2024
Appeal or third-party opposition 27-08-2024Filing the claim in RegSol 05-09-2024First verification report 16-09-2024Late claim 06-08-2025

Trustee: Astrid Lescouhier. The judgment is more than a year old. A claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.

Lifetime

17 annual accounts with figures on one time axis, 23 filings since 2000
peak €48,896 (2006)
€2,598▼ 39.8%
lowest -€39,737 (2018)
-€5,916▲ €3,391
peak €44,279 (2010)
-€31,281▼ €5,916
€58,932▼ 0.6%
peak 0.4 FTE (2006)
0 FTE 
Board2 names since 2021
Documentsfilings and deeds
31-07-2023on the last day
2022abbreviated format
Gross margin from €4,319 to €2,598Loss of €5,916Equity from -€25,365 to -€31,281Cash from €378 to €0

Key points

from the 2022 annual accounts, the last ones filed

Debts

€58,932 213% of the balance sheet
Financial debts 53%Suppliers 31%Taxes and wages 5%Other 11%

Of this, €36,548 falls due within a year.

Filings

23 annual accounts since 2000
AprilJune31 JulyOctober200020102020

Eight of the last ten came late. The 2018 accounts came latest: 418 days after the end of the period.

No score

Recent changes

Vercautter, Jaty (sole trader) at this address Establishment
Supervising judge replaced Enterprise Court of Ghent, Bruges division · judgment of 29-01-2026 · Bankruptcy
Listed in the Peppol Directory
Vermades at this address
All 35 events

Official details

Source: KBO
Status
In bankruptcydeclared bankrupt on 06-08-2024
Activity
Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 5 others
Establishment unit
2.091.912.6888810 Lichtervelde, since 17-08-1999
Financial year end
31 December
Peppol
Reachable since 19-12-2025
Company details

Annual accounts 2022

€2,598▼ 39.8%
≈ €30,000estimated
€5,916▼ 36.4%
-€31,281▼ 23.3%
€27,651▼ 18.5%
Filing
Filed on 31-07-2023
Financials

Insights on OLTEC

Equity fell from €44,279 in 2010 to -€31,281 in 2022.

On 6 August 2024 the court declared OLTEC bankrupt.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2022

abbreviated format, filed on 31-07-2023, on the day of the deadline
€2,598
▼ 39.8%
-€4,524
▼ €1,416
€2,216
▼ 39.0%
€824
▲ €3,391
-113.1%
▼ 38.3 percentage points
0.67
▲ 0.23

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.

Turnover ≈ €30,000. Estimated: probably between €17,000 and €46,000.

Money flows

no detail for 2022

Balance sheet

balance sheet total €27,651 on 31-12-2022
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

-113.1%

Lower than 95% of 6,821 companies in 2022.

0.67

Higher than 6% of 6,797 companies in 2022.

-21.4%

Lower than 95% of 6,807 companies in 2022.

OLTEC Middle half of the sector 80% of the sector Abbreviated accounts in specialised construction (NACE 43)

Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter · Staff: bottom quarter

Staff

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

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 27,65133,91247,42147,403110,76977,41786,43589,49699,697111,950118,623137,940118,486154,666173,848175,378200,275
21/28 3,2009,94016,68023,61730,5544,0937,95612,11325,39121,85636,17648,61011,54225,29741,28061,03380,960
22/27 3,2009,94016,68023,61730,5544,0937,95612,11325,39121,85636,17648,61011,54225,29741,28060,93580,862
22 03,8404,4805,3176,1545917889851,1811,3783,0754,7724,5006,0007,5009,00010,500
23 ------1643271,2892,9505,1118,0396,3205,8897,58410,27612,984
24 06,10012,20018,30024,400--2958,91117,52827,00833,83572213,40826,19641,65957,378
26 3,200----------------
28 ---------------9898
29/58 24,45123,97230,74123,78680,21673,32478,47977,38374,30690,09482,44789,329106,944129,369132,568114,345119,315
3 5,7587,1127,6548,32110,74410,23210,69413,68516,24515,3598,2562,8224,0538,38612,32114,49213,010
30/36 5,7587,1127,6548,32110,74410,23210,69413,68513,68510,3358,2562,8224,0538,38612,32114,49213,010
37 --------2,5595,024-------
40/41 18,69314,27319,96413,50468,73261,36466,90862,88257,38872,40073,10956,77698,674119,242118,78097,33599,349
40 18,65713,64917,63510,19265,73756,99863,58158,06256,67464,50559,86850,24593,020116,532118,78091,52591,383
41 366242,3293,3122,9954,3663,3274,8207147,89513,2416,5315,6542,710-5,8107,967
54/58 03781,0761,9617409818788166741,18398228,7052,2717684625485,269
490/1 02,2102,047--747---1,1521001,0261,9469731,0061,9701,686
Balance sheet: equity and liabilities
10/49 27,65133,91247,42147,403110,76977,41786,43589,49699,697111,950118,623137,940118,486154,666173,848175,378200,275
10/15 -31,281-25,365-16,059-29,934-20,15819,5807,035-8,387-5,2783,74530,36339,46844,27941,96641,89738,11040,988
10/11 18,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59218,59222,37422,37422,37422,37422,374
100 ---18,59218,59218,59218,59218,59218,59218,59218,59218,59222,37422,37422,37422,37422,374
13 1,6251,62512,11712,11712,11712,11712,11712,11712,11712,11712,11720,87621,90519,59319,52315,73718,615
130/1 1,6251,6251,6251,625-------------
130 ---1,6251,6251,6251,6251,6251,6251,6251,6251,6251,6251,5051,5001,3101,310
1311 1,6251,6251,625--------------
132 --10,49210,49210,49210,49210,49210,49210,49210,49210,49210,49210,49210,49210,49210,49210,492
133 -----------8,7599,7887,5967,5313,9356,813
14 -51,498-45,582-46,768-60,643-50,867-11,129-23,674-39,096-35,987-26,964-346------
17/49 58,93259,27763,48077,336130,92757,83779,40097,883104,976108,20688,26098,47174,208112,699131,951137,268159,287
17 21,1555,22711,42314,48921,2905,00711,22320,54119,17817,08025,1861,699-6,49719,39431,77645,015
170/4 21,1555,22711,42314,48921,2905,00711,22320,54119,17817,08025,1861,699-6,49719,39431,77645,015
42/48 36,54854,05052,05762,847109,63752,83068,17777,34285,79891,12660,80291,02874,208106,202112,558104,192114,272
42 5,2276,1966,1136,80010,2686,2167,95215,55711,1808,1078,1148616,49712,89612,38211,88912,511
43 9,9647,2892,2128,50511,7433,5197,9392,26922,2651,0316,803-4,14112,41212,4512,3526,131
430/8 9,9647,2892,2128,50511,7433,5197,9392,26922,2651,0316,803-4,14112,41212,4512,3526,131
44 18,3739,69119,36123,08145,61427,13632,84339,50024,92036,86313,02656,16024,60329,92848,30959,95467,033
440/4 18,3739,69119,36123,08145,61427,13632,84339,50024,92036,86313,02656,16024,60329,92848,30959,95467,033
45 2,9833,0081,181266--35661153-2,8123,5177,66514,3208,65114,752
450/3 2,9833,0081,181266--35661153-2,8123,5171,665920151151
454/9 -------------6,00013,4008,50014,601
47/48 027,86623,19124,19442,01215,96019,44119,95927,37244,97132,85931,19535,44843,30025,09521,34513,845
492/3 1,229---------2,2725,744---1,300-
Income statement
70 -----------256,793----225,264
76A --700---10,000-2,893-5,000-350----
9900 2,5984,31924,1313,755-23,75219,13823,14226,4867,553-6,7659,36134,43226,56821,97326,04821,85148,896
60/61 -----------226,090----176,368
62 ---------------481-62326,893
630 6,7406,7406,7406,93713,0833,8634,15813,27813,97615,13815,37114,95817,01016,44819,65520,39321,517
631/4 ----------2,47313,072-----
640/8 38268764886987165269511,8871,7541,2101,4432,1673,0461,5043,5331,8555,315
66A --197--------124----3,187
9901 -4,524-3,10816,547-4,051-37,70614,62318,2901,321-8,177-23,112-9,9264,2356,5124,0213,340225-4,830
75/76B 2337111051262151,1451421,0001,0098141354,151160117
75 2337111051262151,1451421,0001,0098141354,151160117
65/66B 1,4154,5212,6795,8362,0322,5912,9284,3064,7393,4955,0113,4242,1442,7963,4903,2632,252
65 1,4154,5212,6795,8362,0322,5912,9284,3064,7393,4955,0113,4242,1442,7963,4903,2632,252
9903 -5,916-7,62613,875-9,776-39,73712,54515,424-2,969-8,880-26,465-8,9361,6955,5321,3604,001-2,878-10,151
67/77 01,680----31391441531692,7243,2201,290215-1
9904 -5,916-9,30613,875-9,776-39,73712,54515,421-3,108-9,023-26,618-9,105-1,0292,312693,787-2,878-10,153
789 010,492---------------
9905 -5,9161,18613,875-9,776-39,73712,54515,421-3,108-9,023-26,618-9,105-1,0292,312693,787-2,878-10,153
Appropriation of the result
9906 -51,498-45,582-46,768-60,643-50,867-11,129-23,674-39,096-35,987-26,964-9,105-1,0292,312693,787-2,878-10,153
14P -45,582-46,768---------------
791/2 ----------8,7591,029---2,87810,153
691/2 ------------2,312693,787--
6920 ------------1205190--
6921 ------------2,192643,597--
Social balance sheet
9087 0---------------0.4
Hours worked1013 ----------------824
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 6 older financial years (2000-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 12 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 2022 (PDF), filed on 31-07-2023.

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
31-12-2022 abbreviated format 31-07-2023 2023-00291563 PDF
31-12-2021 micro format 30-08-2022 2022-20349974 PDF
31-12-2020 micro format 30-08-2021 2021-61800126 PDF
31-12-2019 micro format 06-05-2021 2021-13500494 PDF
31-12-2018 micro format 21-09-2020 2020-54800214 PDF
31-12-2017 micro format 13-08-2018 2018-45400176 PDF
31-12-2016 micro format 30-08-2017 2017-57500259 PDF
31-12-2015 abbreviated format 31-08-2016 2016-58000187 PDF
31-12-2014 abbreviated format 08-09-2015 2015-58500530 PDF
31-12-2013 abbreviated format 03-07-2014 2014-26500560 PDF
31-12-2012 abbreviated format 30-07-2013 2013-37900232 PDF
31-12-2011 abbreviated format 10-10-2012 2012-60700253 PDF
31-12-2010 abbreviated format 29-08-2011 2011-48200225 PDF
31-12-2009 abbreviated format 30-08-2010 2010-48800526 PDF
31-12-2008 abbreviated format 26-08-2009 2009-64200339 PDF
31-12-2007 abbreviated format 29-09-2008 2008-75600276 PDF
31-12-2006 abbreviated format 30-08-2007 2007-67700188 PDF
31-12-2005 abbreviated format 21-08-2006 2006-64804448 PDF
31-12-2004 abbreviated format 26-09-2005 2005-71304086 PDF
31-12-2003 abbreviated format 18-06-2004 2004-27404217 PDF
31-12-2002 abbreviated format 24-07-2003 2003-49800085 PDF
31-12-2001 abbreviated format 05-11-2002 2002-70204240 PDF
31-12-2000 abbreviated format 06-11-2001 2001-68200435 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20222021202020192018201720162015201420132012201120102009200820072006
2,2163,63223,2872,886-24,62318,48622,44714,5995,799-7,9755,44519,19323,52220,46922,99620,61816,688
824-2,56620,615-2,839-26,65416,40719,57910,1704,953-11,4816,26513,93019,32216,51723,44217,51511,365
6,4000-197057,05500017,5118182,93652,0273,255464-9846666,238
-378-699-8841,221-24110362142-509201-27,72326,4341,503307-86-4,721-
-12,097-30,078-21,316-39,061-29,42220,49310,30241-11,492-1,03221,645-1,69932,73723,16720,01110,1535,043
-----------1.6%-----2.1%
-113.1%-74.8%-33.9%-63.1%-18.2%25.3%8.1%-9.4%-5.3%3.3%25.6%28.6%37.4%27.1%24.1%21.7%20.5%
0.670.440.590.380.731.391.151.000.870.991.360.981.441.221.181.101.04
0.510.310.440.250.631.190.990.820.680.821.220.951.391.141.070.960.93
-----2.9511.29--28.902.912.491.682.693.153.603.89
-----64.1%219.2%---710.8%-30.0%-2.6%5.2%0.2%9.0%-7.6%-24.8%
-21.4%-27.4%29.3%-20.6%-35.9%16.2%17.8%-3.5%-9.1%-23.8%-7.7%-0.7%2.0%0.0%2.2%-1.6%-5.1%
1.570.80---------------
-----------71 days----148 days
-----------91 days----139 days

Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.

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.

Investments

fixed assets acquired
Item20222021
Tangible fixed assets€6,400-
€6,740€6,740

Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)

Insights on OLTEC

The operating result for 2022 is a loss of €4,524, larger than the loss of €3,108 in 2021. It is the lowest result since 2018.

Equity is negative. Debt (€58,932) exceeds the balance-sheet total (€27,651).

Board & ownership

Curator

the curator has managed the company since 06-08-2024
Curator, Domein De Herten, Hertsbergsestraat 4, 8020 Oostkamp
Also on 44 other cases

Last board

2 directors, last change in 2023
Director (not named in the articles)
appointed by deed of 28-11-2023 term without a fixed end
earlier manager, until 28-11-2023
listed in the 2022 annual accounts, filed on 31-07-2023
Director (not named in the articles)
appointed by deed of 28-11-2023 term without a fixed end
earlier manager, until 28-11-2023
listed in the 2022 annual accounts, filed on 31-07-2023
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“*Elke bestuurder vertegenwoordigt de vennootschap jegens derden, met inbegrip van de vertegenwoordiging in rechte. Indien er verschillende…”
deed of 28-11-2023

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
VERCAUTTER Geert Hendrik Frans Marcel
Director (not named in the articles)
VERCAUTTER Karl Walter Danny Rik
Director (not named in the articles)
BoardEarliermandate already running before its first mentionBankruptcy 06-08-2024
Mandates as a list
  • VERCAUTTER Geert Hendrik Frans Marcel
    • Director (not named in the articles), from before 31-12-2021, until the bankruptcy of 06-08-2024
    • Manager, until 28-11-2023
  • VERCAUTTER Karl Walter Danny Rik
    • Director (not named in the articles), from before 31-12-2021, until the bankruptcy of 06-08-2024
    • Manager, until 28-11-2023

See the board, name and registered office on a given date →

Control

Capital

Contribution
€18,592.01
Source
2022 annual accounts

Articles of association

deed of 28-11-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
“Niet bezoldigd, tenzij algemene vergadering bij benoeming anders beslist”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
20 June at 14:00

Network & group

No group

OLTEC has no parent and no holdings in its annual accounts. OLTEC shares no director with another company.

At the same address

Kruiseekstraat 6, 8810 Lichtervelde · 2 other companies
Vermades
registered office since 05-05-2025 · founded in 2025
0.5 FTE (2025)
1022.992.286
Vercautter, Jaty (sole trader)
establishment since 01-03-2026
founded in 2026
1034.482.432

Timeline

Timeline

35 events since 1999
2026
Vercautter, Jaty (sole trader) at this address Establishment
Supervising judge replaced Enterprise Court of Ghent, Bruges division · judgment of 29-01-2026
2025
Listed in the Peppol Directory
Vermades at this address Registered office
2024
Bankruptcy published Enterprise Court of Ghent, Bruges division · judgment of 06-08-2024
2023
Changes of role: VERCAUTTER Karl Walter Danny Rik (director) and VERCAUTTER Geert Hendrik Frans Marcel (director)Director discharge: VERCAUTTER Karl Walter Danny Rik · Director discharge: VERCAUTTER Geert Hendrik Frans Marcel8 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFabbreviated format · on the deadline day
2022
Annual accounts 2021 filed PDFmicro format · 30 days late
2021
Annual accounts 2020 filed PDFmicro format · 30 days late
Annual accounts 2019 filed PDFmicro format · 279 days late
2020
Back to profit net €13,875 The net result is €13,875, after 2 loss-making years.
Annual accounts 2018 filed PDFmicro format · 418 days late
2018
Weakest financial year net -€39,737 The net result drops to -€39,737, the lowest from 2006 to 2022.
Annual accounts 2017 filed PDFmicro format · 13 days late
2017
Annual accounts 2016 filed PDFmicro format · 30 days late
2016
Back to profit net €15,421 The net result is €15,421, after 5 loss-making years.
Annual accounts 2015 filed PDFabbreviated format · 31 days late
2015
Annual accounts 2014 filed PDFabbreviated format · 39 days late
2014
Annual accounts 2013 filed PDFabbreviated format · 28 days before the deadline
2013
Annual accounts 2012 filed PDFabbreviated format · 1 day before the deadline
2012
Annual accounts 2011 filed PDFabbreviated format · 71 days late
2011
Annual accounts 2010 filed PDFabbreviated format · 29 days late
2010
Annual accounts 2009 filed PDFabbreviated format · 30 days late
2009
Annual accounts 2008 filed PDFabbreviated format · 26 days late
2008
Back to profit net €3,787 The net result is €3,787, after 2 loss-making years.
Annual accounts 2007 filed PDFabbreviated format · 60 days late
2007
Annual accounts 2006 filed PDFabbreviated format · 30 days late
2006
Annual accounts 2005 filed PDFabbreviated format
2005
Annual accounts 2004 filed PDFabbreviated format
2004
Annual accounts 2003 filed PDFabbreviated format
2003
Annual accounts 2002 filed PDFabbreviated format
2002
Annual accounts 2001 filed PDFabbreviated format
2001
Annual accounts 2000 filed PDFabbreviated format
1999
First establishment OLTEC BVBA, Kruiseekstraat 6, Lichtervelde
Incorporation 16 publications in the Belgian Official Gazette, the last on 28-11-2023 · published on 02-07-1999

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

OLTEC was incorporated on 22 June 1999.1 Total assets fell from €110,769 in 2018 to €27,651 in 2022.2 On 6 August 2024 the company was declared bankrupt.3

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2022
  3. 3Belgian Official Gazette, 12-08-2024

Company details

Identity

Enterprise number
0466.299.685
VAT number
BE 0466.299.685
Peppol ID
0208:0466299685
Other Peppol ID
9925:BE0466299685
Legal form
Private limited company
Status
In bankruptcy, since 06-08-2024
Founded
22-06-1999
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
20 June at 14:00
deed of 28-11-2023 (in Dutch)
Peppol
Listed since 19-12-2025The listing only disappears when the Peppol service provider removes it.
Name
OLTEC in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 28-11-2023 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 28-11-2023 (in Dutch)

Activities

NACEBEL 2025
Codes under NACEBEL 2008
43222 Specialised construction activities main activity
01430 Crop and animal production, hunting and related service activities
01620 Support activities for animal production
43211 Specialised construction activities
47640 Retail trade
93199 Other sports activities
Codes under NACEBEL 2003
45331 main activity
45310
PurposeThe purpose describes the activities the company may carry out under its articles.
“De uitbating van een stoeterij, vetmesterij en paardenpension, omvattende ondermeer het fokken, stallen en verzorgen van paarden en/of…”
14 activities
  1. De uitbating van een stoeterij, vetmesterij en paardenpension, omvattende ondermeer het fokken, stallen en verzorgen van paarden en/of paardachtigen;
  2. Het verzorgen van vervoer van personen met door dieren getrokken voertuigen;
  3. De handel (aan- en verkoop) in paarden, voeders, lederwaren en andere gespecialiseerde artikelen met betrekking tot de paardenliefhebberij;
  4. Het aanbieden van opleidingen voor paardrijden (lesgeven in paardrijden);
  5. Het berijden en africhten van paarden voor rekening van derden;
  6. Het begeleiden van transporten van paarden voor rekening van derden;
  7. Het optreden als tussenpersoon in de handel van paarden, voeders, lederwaren en andere gespecialiseerde artikelen met betrekking tot de paardenliefhebberij en/of ruitersport.
  8. Aanneming van werken voor eigen rekening als voor rekening van derden, zowel in België als in het buitenland. Dit omvat onder meer:
  9. Uitvoeren van alle werkzaamheden- en het leveren van alle toestellen inzake centrale verwarming, sanitair
  10. Het uitvoeren van alle werkzaamheden inzake klimatisatie en de aan- en verkoop van alle mogelijke toestellen inzake klimatisatie
  11. Algemeen onderhoud van technische installaties, installatie van elektrische installaties en elektrotechnische installaties
  12. Alle herstellings- en onderhoudswerken in verband met bovenvermelde activiteiten
  13. Overgaan tot het aankopen, onderschrijven, beheren, verkopen, omruilen voor eigen rekening van aandelen, deelbewijzen en/of effecten allerlei van vennootschappen en/of verenigingen eender welke, alsmede van andere roerende en/of onroerende waarden, tegoeden en/of vorderingen;
  14. Overgaan tot het aankopen, verkopen, opschikken, uitrusten, valoriseren, bouwen, verhuren, onderverhuren, in huur nemen of leasen van onroerende goederen, al dan niet gemeubeld;
deed of 28-11-2023 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
OLTEC BVBA registered office Kruiseekstraat 6, 8810 Lichtervelde 17-08-1999 2.091.912.688

Buildings and parcels at the address

Ground area
4,338 m²
Buildings
161 m²
Volume, LiDAR
721 m³
Tallest building
6.3 m
Buildings to scale, each on its own parcel
160 m², 6.2 m 160 m², 6.2 m

Location

registered office establishment The establishment unit on the map
3 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
36011E0097/00F0004,338 m² 1 · 160 m² 6.2 m · 1