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Open bankruptcyFinancials · financial year 2021, micro format
2021 annual accounts filed 81 days after the deadline Filed on 20 October 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20469388.
Annual accounts 2021 filed on 20-10-2022 PDF all 6 filings
Turnover
≈ €720,000
Estimated: probably between €630,000 and €860,000
Total assets
€206,227▲ 23.6%
2020 · €166,825
Net result
€48,113
2020 · -€46,534
Working capital
-€159,895▲ 32.8%
2020 · -€237,797
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
€60,978
2021
20182021
Net result
€48,113
2021
highest quarter of the sector
20182021
Equity
-€115,821
▲ 29.3%
2021
lowest quarter of the sector
20182021
Total assets
€206,227
▲ 23.6%
2021
middle half of the sector
20182021
Debt
€315,048
▼ 2.7%
2021
20182021
Working capital
-€159,895
▲ 32.8%
2021
lowest quarter of the sector
20182021
Solvency
-56.2%
▲ 42.1pp
2021
lowest quarter of the sector
20182021
Current ratio
0.47
▲ 0.24
2021
lowest quarter of the sector
20182021
Return on assets (ROA)
23.3%
▲ 51.2pp
2021
middle half of the sector
20182021
Staff (FTE)
10.5
▲ 78.0%
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result€20,270--€167,514-€42,605▲ 74.6%€60,978
Net result€10,597--€163,887-€46,534below the sector's middle half▲ 71.6%€48,113above the sector's middle half
Equity€46,487--€117,400-€163,934below the sector's middle half▼ 39.6%-€115,821below the sector's middle half▲ 29.3%
Total assets€324,779-€281,040▼ 13.5%€166,825within the sector's middle half▼ 40.6%€206,227within the sector's middle half▲ 23.6%
Debt€278,292-€398,440▲ 43.2%€323,759▼ 18.7%€315,048▼ 2.7%
Working capital-€65,241--€224,230▼ 244%-€237,797below the sector's middle half▼ 6.1%-€159,895below the sector's middle half▲ 32.8%
Solvency14.3%--41.8%▼ 56.1pp-98.3%below the sector's middle half▼ 56.5pp-56.2%below the sector's middle half▲ 42.1pp
Current ratio0.75-0.39▼ 0.360.24below the sector's middle half▼ 0.160.47below the sector's middle half▲ 0.24
Return on assets (ROA)3.3%--58.3%▼ 61.6pp-27.9%below the sector's middle half▲ 30.4pp23.3%within the sector's middle half▲ 51.2pp
Staff (FTE)6.9-4.3▼ 37.7%5.9above the sector's middle half▲ 37.2%10.5▲ 78.0%
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2021 is a profit of €60,978, after a loss of €42,605 in 2020. It is the highest result since 2018.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €206,227
Fixed assets
€61,683 ▼ 34.0%
Current assets
€144,544 ▲ 97.0%
Equity and liabilities
Equity-€115,821
Debt€315,048
Equity is negative. Debt (€315,048) exceeds the balance-sheet total (€206,227).
Key figures and ratios
EBITDA
€93,025▲
2020 · €38
Cash flow
€80,159▲
2020 · -€3,891
Interest coverage
7.48
Debt ≤ 1 year
€304,439▼
2020 · €311,157
Income taxes
€522▲
2020 · €218
Staff costs
€189,275
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 15 |
| full-time | 4 |
| part-time | 11 |
| in full-time equivalents | 13 |
| Average over the year, in full-time equivalents | 10.5 |
| On a permanent contract | 4 |
| Joined | 73 |
| Left | 64 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €266 |
| Depreciation and write-downs of the year | €32,047 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €189,275 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,730 | €45,090 | €42,643 | €32,047 | ▼ 24.8% |
| Other operating charges640/8 | - | - | - | €2,026 | - |
| Gross operating margin9900 | €389,620 | €126,925 | €162,785 | €284,325 | ▲ 74.7% |
| Operating profit (loss)9901 | €20,270 | -€167,514 | -€42,605 | €60,978 | - |
| Financial income75/76B | - | - | - | €89 | - |
| Recurring financial income75 | €57 | €10,668 | €3,706 | €89 | ▼ 97.6% |
| Financial charges65/66B | - | - | - | €12,432 | - |
| Recurring financial charges65 | €7,455 | €7,041 | €7,418 | €12,432 | ▲ 67.6% |
| Profit (loss) for the period before taxes9903 | €12,872 | -€163,887 | -€46,317 | €48,635 | - |
| Income taxes67/77 | €2,275 | - | €218 | €522 | ▲ 140% |
| Profit (loss) for the period9904 | €10,597 | -€163,887 | -€46,534 | €48,113 | - |
| Profit (loss) for the period to be appropriated9905 | €10,597 | -€163,887 | -€46,534 | €48,113 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €324,779 | €281,040 | €166,825 | €206,227 | ▲ 23.6% |
| Fixed assets21/28 | €123,839 | €134,826 | €93,464 | €61,683 | ▼ 34.0% |
| Tangible fixed assets22/27 | €116,439 | €121,126 | €88,464 | €56,683 | ▼ 35.9% |
| Plant, machinery and equipment23 | - | - | - | €11,701 | - |
| Furniture and vehicles24 | - | - | - | €15,668 | - |
| Leasing and similar rights25 | - | - | - | €8,777 | - |
| Other tangible fixed assets26 | - | - | - | €20,536 | - |
| Financial fixed assets28 | €7,400 | €13,700 | €5,000 | €5,000 | = |
| Current assets29/58 | €200,941 | €146,214 | €73,361 | €144,544 | ▲ 97.0% |
| Amounts receivable within one year40/41 | €88,995 | €144,308 | €54,224 | €68,644 | ▲ 26.6% |
| Other amounts receivable41 | - | - | - | €68,644 | - |
| Cash at bank and in hand54/58 | €110,642 | €1,906 | €7,653 | €75,900 | ▲ 892% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €324,779 | €281,040 | €166,825 | €206,227 | ▲ 23.6% |
| Equity10/15 | €46,487 | -€117,400 | -€163,934 | -€115,821 | ▲ 29.3% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | - |
| Reserves13 | €34,087 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | - | -€131,660 | -€178,194 | -€130,081 | ▲ 27.0% |
| Provisions and deferred taxes16 | - | - | €7,000 | €7,000 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €7,000 | - |
| Environmental obligations163 | - | - | - | €7,000 | - |
| Amounts payable17/49 | €278,292 | €398,440 | €323,759 | €315,048 | ▼ 2.7% |
| Amounts payable after more than one year17 | €12,111 | €5,951 | - | - | - |
| Amounts payable within one year42/48 | €266,182 | €370,444 | €311,157 | €304,439 | ▼ 2.2% |
| Financial debts43 | - | - | - | €5,147 | - |
| Credit institutions430/8 | - | - | - | €5,147 | - |
| Trade debts44 | €198,821 | €186,329 | €138,590 | €131,706 | ▼ 5.0% |
| Suppliers440/4 | - | - | - | €131,706 | - |
| Taxes, remuneration and social security45 | - | - | - | €164,929 | - |
| Taxes450/3 | - | - | - | €80,638 | - |
| Remuneration and social security454/9 | - | - | - | €84,292 | - |
| Other amounts payable47/48 | - | - | - | €2,657 | - |
| Accrued charges and deferred income492/3 | - | - | - | €10,610 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,597 | -€163,887 | -€46,534 | €48,113 | - |
| + Depreciation and write-downs630 | €38,730 | €45,090 | €42,643 | €32,047 | ▼ 24.8% |
| Operating cash flow (approximation) | €49,326 | -€118,797 | -€3,891 | €80,159 | - |
| Investment in fixed assets (approximation) | - | -€56,078 | -€1,281 | -€266 | ▲ 79.3% |
| Change in cash | - | -€108,736 | €5,747 | €68,248 | ▲ 12× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | micro format | 20-10-2022 | 2022-20469388 | |
| 31-12-2020 | micro format | 30-09-2021 | 2021-69100518 | |
| 31-12-2019 | micro format | 25-06-2020 | 2020-20200193 | |
| 31-12-2018 | micro format | 20-12-2019 | 2019-77200385 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-58700125 | |
| 31-12-2016 | micro format | 27-09-2017 | 2017-64000183 |