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Financials · financial year 2009, full format

Annual accounts 2009 filed on 30-11-2009 PDF all 6 filings

Turnover

≈ €140,000

Estimated: probably between €75,000 and €270,000

EBIT margin

Not included in this filing

Net result

€12,921▼ 14.2%

2008 · €15,066

Working capital

-€311,044▼ 3.9%

2008 · -€299,272

Multi-year overview

2007 to 2009, 3 financial years

Operating result

€19,099

▼ 40.1% 2009

20072009

Net result

€12,921

▼ 14.2% 2009

20072009

Equity

€185,663

▲ 7.5% 2009

20072009

Total assets

€790,812

▲ 16.5% 2009

20072009

Debt

€605,149

▲ 19.6% 2009

20072009

Working capital

-€311,044

▼ 3.9% 2009

20072009

Staff (FTE)

0.4

2009

20072009

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line200720082009

Operating result€30,865-€31,903▲ 3.4%€19,099▼ 40.1%

Net result€9,082-€15,066▲ 65.9%€12,921▼ 14.2%

Equity€157,677-€172,743▲ 9.6%€185,663▲ 7.5%

Total assets€482,384-€678,527▲ 40.7%€790,812▲ 16.5%

Debt€324,708-€505,784▲ 55.8%€605,149▲ 19.6%

Working capital-€286,727--€299,272▼ 4.4%-€311,044▼ 3.9%

Staff (FTE)0.2-0.4

The operating result for 2009 is 40% lower than in 2008 and the lowest since 2007.

The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2009 in colour, 2008 as the grey bar beneath

Assets €790,812

62.8%

37.2%

Fixed assets €496,707 ▲ 5.2%

Current assets €294,105 ▲ 42.4%

Equity and liabilities €790,812

23.5%

76.5%

Equity €185,663 ▲ 7.5%

Debt €605,149 ▲ 19.6%

Debt's share of the balance-sheet total rises from 74.5% to 76.5%. Equity and debt are higher.

Key figures and ratios

2009 value · change against 2008

EBITDA

€26,530▼

2008 · €37,403

Cash flow

€20,351▼

2008 · €20,567

Current ratio

0.49▲

2008 · 0.41

ROE

7.0%▼

2008 · 8.7%

ROA

1.6%▼

2008 · 2.2%

Debt ≤ 1 year

€605,149▲

2008 · €505,784

Income taxes

€9,550▼

2008 · €11,526

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

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2009 against 2008 · 25 lines

Balance sheet Code20082009

Assets

Total assets20/58€678,527€790,812▲

Fixed assets21/28€472,015€496,707▲

Tangible fixed assets22/27€1,947€26,639▲

Financial fixed assets28€470,068€470,068=

Current assets29/58€206,512€294,105▲

Amounts receivable within one year40/41€206,099€289,968▲

Cash at bank and in hand54/58€381€4,026▲

Equity and liabilities

Total equity and liabilities10/49€678,527€790,812▲

Equity10/15€172,743€185,663▲

Contributions10/11€62,000€62,000=

Reserves13€6,200€6,200=

Profit (loss) carried forward14€104,543€117,463▲

Amounts payable17/49€505,784€605,149▲

Amounts payable after more than one year17€0-

Amounts payable within one year42/48€505,784€605,149▲

Trade debts44€32,894€28,602▼

Income statement Code20082009

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5,501€7,430▲

Gross operating margin9900€37,858€39,921▲

Operating profit (loss)9901€31,903€19,099▼

Recurring financial income75€25-

Recurring financial charges65€6,051€353▼

Profit (loss) for the period before taxes9903€26,592€22,470▼

Income taxes67/77€11,526€9,550▼

Profit (loss) for the period9904€15,066€12,921▼

Profit (loss) for the period to be appropriated9905€15,066€12,921▼

Source: Annual accounts 2009 (PDF), filed on 30-11-2009.

Line	2007	2008	2009	Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€5,089	€5,501	€7,430	▲ 35.1%
Gross operating margin9900	€54,064	€37,858	€39,921	▲ 5.4%
Operating profit (loss)9901	€30,865	€31,903	€19,099	▼ 40.1%
Recurring financial income75	€1	€25	-	-
Recurring financial charges65	€15,898	€6,051	€353	▼ 94.2%
Profit (loss) for the period before taxes9903	€17,781	€26,592	€22,470	▼ 15.5%
Income taxes67/77	€8,699	€11,526	€9,550	▼ 17.1%
Profit (loss) for the period9904	€9,082	€15,066	€12,921	▼ 14.2%
Profit (loss) for the period to be appropriated9905	€9,082	€15,066	€12,921	▼ 14.2%

Line	2007	2008	2009	Change
Assets
Total assets20/58	€482,384	€678,527	€790,812	▲ 16.5%
Fixed assets21/28	€476,904	€472,015	€496,707	▲ 5.2%
Tangible fixed assets22/27	€6,836	€1,947	€26,639	▲ 14×
Financial fixed assets28	€470,068	€470,068	€470,068	=
Current assets29/58	€5,481	€206,512	€294,105	▲ 42.4%
Amounts receivable within one year40/41	€5,320	€206,099	€289,968	▲ 40.7%
Cash at bank and in hand54/58	€161	€381	€4,026	▲ 957%
Equity and liabilities
Total equity and liabilities10/49	€482,384	€678,527	€790,812	▲ 16.5%
Equity10/15	€157,677	€172,743	€185,663	▲ 7.5%
Contributions10/11	€62,000	€62,000	€62,000	=
Reserves13	€6,200	€6,200	€6,200	=
Profit (loss) carried forward14	€89,477	€104,543	€117,463	▲ 12.4%
Amounts payable17/49	€324,708	€505,784	€605,149	▲ 19.6%
Amounts payable after more than one year17	€32,500	€0	-	-
Amounts payable within one year42/48	€292,208	€505,784	€605,149	▲ 19.6%
Trade debts44	€37,707	€32,894	€28,602	▼ 13.0%

Line	2007	2008	2009	Change
Profit (loss) for the period9904	€9,082	€15,066	€12,921	▼ 14.2%
+ Depreciation and write-downs630	€5,089	€5,501	€7,430	▲ 35.1%
Operating cash flow (approximation)	€14,172	€20,567	€20,351	▼ 1.0%
Investment in fixed assets (approximation)	-	-€612	-€32,123	▼ 5,151%
Change in cash	-	€220	€3,645	▲ 17×

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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Filings with the National Bank (6)

Financial year	Type	Filed	Reference	Document
30-06-2009	full format	30-11-2009	2009-86700355	PDF
30-06-2008	full format	13-02-2009	2009-04400058	PDF
30-06-2007	full format	27-09-2007	2007-74700366	PDF
30-06-2006	full format	06-10-2006	2006-83300412	PDF
30-06-2005	full format	10-10-2005	2005-82002318	PDF
30-06-2004	full format	06-10-2004	2004-71501694	PDF