P.B. PROJECTS
Open bankruptcyFrom the official registers: KBO 28 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2023, full format
Latest annual accounts filed
Annual accounts 2023
- Financial year ended
- 31-03-2023
- Filed on
- 31-08-2023
- Format
- full format
- Reference
- 2023-00414622
Turnover
€49.3m▼ 12.8%
2022 · €56.6m
EBIT margin
2.5%▼ 1.2pp
2022 · 3.7%
Net result
€856,308▼ 40.5%
2022 · €1.4m
Working capital
€6.8m▲ 15.6%
2022 · €5.9m
Trend over the years
2019 to 2023, 4 financial years 2019 to 2023, 4 financial years
The operating result for 2023 is 41% lower than in 2022 and the lowest since 2019.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Turnover€49.3m
2023
Operating result€1.2m
2023
Net result€0.9m
2023
Assets, equity and debt per financial year.
Total assets€19.1m
2023
Equity€8.9m
2023
Debt€10.1m
2023
Above zero, the company can pay its short-term debts with what it holds in the short term.
Working capital€6.8m
2023
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
EBIT margin2.5%
2023
Return on assets (ROA)4.5%
2023
The higher the solvency, the better the company absorbs a setback.
Solvency46.8%
2023
A ratio above 1 means the short-term assets cover the short-term debts.
Current ratio1.68
2023
Average staff per financial year, in full-time equivalents (FTE).
Staff (FTE)32.6
2023
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202120222023
Turnover€65.6m-€83.6m-€56.6m▼ 32.3%€49.3m▼ 12.8%
Operating result€1.2m-€1.9m-€2.1m▲ 7.2%€1.2m▼ 41.0%
Net result€0.8m-€1.4mabove the sector's middle half-€1.4mabove the sector's middle half▲ 0.5%€0.9mabove the sector's middle half▼ 40.5%
EBIT margin1.9%-2.3%-3.7%▲ 1.4pp2.5%▼ 1.2pp
Equity€5.7m-€7.1mabove the sector's middle half-€8.1mabove the sector's middle half▲ 12.7%€8.9mabove the sector's middle half▲ 10.6%
Total assets€18.2m-€14.5mabove the sector's middle half-€14.6mabove the sector's middle half▲ 1.0%€19.1mabove the sector's middle half▲ 30.5%
Debt€12.5m-€7.3m-€6.5m▼ 10.6%€10.1m▲ 55.1%
Working capital€2.2m-€4.5mabove the sector's middle half-€5.9mabove the sector's middle half▲ 29.2%€6.8mabove the sector's middle half▲ 15.6%
Solvency31.3%-49.4%within the sector's middle half-55.2%within the sector's middle half▲ 5.8pp46.8%within the sector's middle half▼ 8.4pp
Current ratio1.18-1.67within the sector's middle half-1.96within the sector's middle half▲ 0.291.68within the sector's middle half▼ 0.27
Return on assets (ROA)4.5%-9.9%within the sector's middle half-9.9%within the sector's middle half=4.5%within the sector's middle half▼ 5.4pp
Staff (FTE)46.7-42.7above the sector's middle half-38.1above the sector's middle half▼ 10.8%32.6above the sector's middle half▼ 14.4%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €19.1m
Fixed assets
€2.4m ▼ 9.1%
Current assets
€16.7m ▲ 39.1%
Equity and liabilities €19.1m
Equity
€8.9m ▲ 10.6%
Debt
€10.1m ▲ 55.1%
Debt's share of the balance-sheet total rises from 44.8% to 53.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.7m▼
2022 · €2.9m
Cash flow
€1.3m▼
2022 · €2.2m
Quick ratio
1.33▼
2022 · 1.45
Debt to equity
1.14▲
2022 · 0.81
ROE
9.6%▼
2022 · 17.9%
Interest coverage
83.41▼
2022 · over 100
Debt ≤ 1 year
€9.9m▲
2022 · €6.1m
Debt > 1 year
€201,586▼
2022 · €362,637
Income taxes
€330,629▼
2022 · €609,421
Staff costs
€2.1m▼
2022 · €2.1m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | €59.7m | €52.2m | ▼ 12.5% |
| Turnover70 | €65.6m | €83.6m | €56.6m | €49.3m | ▼ 12.8% |
| Other operating income74 | - | - | €3.1m | €2.9m | ▼ 6.6% |
| Operating charges60/66A | - | - | €57.6m | €51.0m | ▼ 11.5% |
| Goods for resale, raw materials and consumables60 | - | - | €51.7m | €45.1m | ▼ 12.7% |
| Purchases600/8 | - | - | €52.4m | €45.5m | ▼ 13.1% |
| Change in stocks: decrease (increase)609 | - | - | -€0.7m | -€0.4m | ▲ 44.8% |
| Services and other goods61 | - | - | €3.1m | €3.3m | ▲ 7.9% |
| Remuneration, social security and pensions62 | - | - | €2.1m | €2.1m | ▼ 2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.0m | €1.6m | €0.8m | €0.4m | ▼ 42.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€4.0m | €0.03m | - |
| Other operating charges640/8 | - | - | €4.0m | €0.03m | ▼ 99.3% |
| Non-recurring operating charges66A | - | - | - | €0.001m | - |
| Operating profit (loss)9901 | €1.2m | €1.9m | €2.1m | €1.2m | ▼ 41.0% |
| Financial income75/76B | - | - | €0.007m | €0.01m | ▲ 45.9% |
| Recurring financial income75 | €0.03m | €0.05m | €0.007m | €0.008m | ▲ 7.2% |
| Income from financial fixed assets750 | - | - | €450 | €150 | ▼ 66.7% |
| Other financial income752/9 | - | - | €0.007m | €0.008m | ▲ 12.2% |
| Non-recurring financial income76B | - | - | - | €0.003m | - |
| Financial charges65/66B | - | - | €0.05m | €0.06m | ▲ 19.8% |
| Recurring financial charges65 | €0.06m | €0.1m | €0.05m | €0.06m | ▲ 19.8% |
| Debt charges650 | €0.04m | €0.07m | €0.02m | €0.02m | ▼ 4.5% |
| Other financial charges652/9 | - | - | €0.02m | €0.03m | ▲ 40.3% |
| Profit (loss) for the period before taxes9903 | €1.2m | €1.9m | €2.0m | €1.2m | ▼ 42.1% |
| Income taxes67/77 | €0.4m | €0.5m | €0.6m | €0.3m | ▼ 45.7% |
| Taxes670/3 | - | - | €0.6m | €0.3m | ▼ 45.7% |
| Profit (loss) for the period9904 | €0.8m | €1.4m | €1.4m | €0.9m | ▼ 40.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.008m | - |
| Transfer to tax-exempt reserves689 | - | - | €0.4m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.8m | €1.4m | €1.0m | €0.9m | ▼ 15.1% |
| Line | 2019 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €18.2m | €14.5m | €14.6m | €19.1m | ▲ 30.5% |
| Fixed assets21/28 | €3.7m | €3.2m | €2.6m | €2.4m | ▼ 9.1% |
| Intangible fixed assets21 | €0.03m | €0.01m | €0.01m | €0.006m | ▼ 43.2% |
| Tangible fixed assets22/27 | €3.6m | €3.1m | €2.6m | €2.3m | ▼ 9.0% |
| Land and buildings22 | - | - | €1.5m | €1.4m | ▼ 6.0% |
| Plant, machinery and equipment23 | - | - | €1.0m | €0.9m | ▼ 13.6% |
| Other tangible fixed assets26 | - | - | €0.03m | €0.03m | ▼ 1.8% |
| Financial fixed assets28 | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Other financial fixed assets284/8 | - | - | €0.006m | €0.006m | = |
| Shares284 | - | - | €0.003m | €0.003m | = |
| Amounts receivable and cash guarantees285/8 | - | - | €0.003m | €0.003m | = |
| Current assets29/58 | €14.6m | €11.3m | €12.0m | €16.7m | ▲ 39.1% |
| Stocks and contracts in progress3 | €2.8m | €2.4m | €3.1m | €3.5m | ▲ 11.1% |
| Stocks30/36 | - | - | €3.1m | €3.5m | ▲ 11.1% |
| Goods purchased for resale34 | - | - | €3.1m | €3.5m | ▲ 11.1% |
| Amounts receivable within one year40/41 | €9.6m | €7.6m | €8.5m | €10.4m | ▲ 22.1% |
| Trade receivables40 | - | - | €7.3m | €8.5m | ▲ 16.5% |
| Other amounts receivable41 | - | - | €1.2m | €1.9m | ▲ 55.3% |
| Cash at bank and in hand54/58 | €2.0m | €1.1m | €0.2m | €2.7m | ▲ 12× |
| Deferred charges and accrued income490/1 | - | - | €0.1m | €0.1m | ▼ 17.4% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €18.2m | €14.5m | €14.6m | €19.1m | ▲ 30.5% |
| Equity10/15 | €5.7m | €7.1m | €8.1m | €8.9m | ▲ 10.6% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | €0.1m | €0.1m | = |
| Issued capital100 | - | - | €0.1m | €0.1m | = |
| Revaluation surpluses12 | - | - | €0.7m | €0.7m | ▼ 2.0% |
| Reserves13 | €1.5m | €1.5m | €2.0m | €2.0m | ▲ 0.3% |
| Non-distributable reserves130/1 | - | - | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | €0.7m | €0.4m | ▼ 35.6% |
| Distributable reserves133 | - | - | €1.3m | €1.5m | ▲ 18.5% |
| Profit (loss) carried forward14 | €3.4m | €4.8m | €5.3m | €6.2m | ▲ 16.2% |
| Amounts payable17/49 | €12.5m | €7.3m | €6.5m | €10.1m | ▲ 55.1% |
| Amounts payable after more than one year17 | €0.2m | €0.5m | €0.4m | €0.2m | ▼ 44.4% |
| Financial debts170/4 | - | - | €0.4m | €0.2m | ▼ 44.4% |
| Credit institutions173 | - | - | €0.4m | €0.2m | ▼ 44.4% |
| Amounts payable within one year42/48 | €12.3m | €6.8m | €6.1m | €9.9m | ▲ 61.6% |
| Current portion of amounts payable after more than one year42 | - | - | €0.2m | €0.2m | ▲ 0.6% |
| Financial debts43 | - | - | €0.03m | €0.3m | ▲ 11× |
| Credit institutions430/8 | - | - | €0.03m | €0.3m | ▲ 11× |
| Trade debts44 | €11.2m | €5.5m | €4.6m | €8.8m | ▲ 91.2% |
| Suppliers440/4 | - | - | €4.6m | €8.8m | ▲ 91.2% |
| Advances received on contracts in progress46 | - | - | €0.1m | €0.1m | ▼ 8.6% |
| Taxes, remuneration and social security45 | - | - | €0.5m | €0.5m | ▼ 12.9% |
| Taxes450/3 | - | - | €0.2m | €0.1m | ▼ 42.3% |
| Remuneration and social security454/9 | - | - | €0.3m | €0.3m | ▲ 11.8% |
| Other amounts payable47/48 | - | - | €0.6m | €0.006m | ▼ 99.1% |
| Accrued charges and deferred income492/3 | - | - | €0.04m | €0.03m | ▼ 39.9% |
| Line | 2019 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.8m | €1.4m | €1.4m | €0.9m | ▼ 40.5% |
| + Depreciation and write-downs630 | €1.0m | €1.6m | €0.8m | €0.4m | ▼ 42.1% |
| Operating cash flow (approximation) | €1.8m | €3.0m | €2.2m | €1.3m | ▼ 41.0% |
| Investment in fixed assets (approximation) | - | - | -€0.2m | -€0.2m | ▲ 1.6% |
| Change in cash | - | - | -€0.9m | €2.5m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2023 | full format | 31-08-2023 | 2023-00414622 | |
| 31-03-2022 | full format | 16-08-2022 | 2022-20294927 | |
| 31-03-2021 | full format | 06-09-2021 | 2021-66700112 | |
| 30-09-2019 | full format | 24-02-2020 | 2020-05700242 | |
| 30-09-2018 | full format | 21-02-2019 | 2019-05600086 | |
| 30-09-2017 | full format | 27-02-2018 | 2018-05800347 | |
| 30-09-2016 | full format | 21-02-2017 | 2017-04800585 | |
| 30-09-2015 | full format | 21-12-2015 | 2015-70200235 | |
| 30-09-2014 | full format | 18-02-2015 | 2015-04400378 | |
| 30-09-2013 | full format | 19-12-2013 | 2013-69400152 |
Comparable companies
These companies have the same main activity as P.B. PROJECTS: wholesale of information and communication equipment (NACE 46500). They are comparable in size and age: total assets between €9.1m and €27m, founded between 1990 and 1999.
| Company | Founded | Total assets | Equity | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| P.B. PROJECTS Antwerpen | 1993 | €19.1m | €8.9m | €49.3m | €0.9m | 32.6 | 2023 |
| PRODATA SYSTEMS Zaventem | 1990 | €26.8m | €9.9m | €46.0m | €7.0m | 39.1 | 2025 |
| DISCORP Wijnegem | 1992 | €9.1m | €1.4m | €31.5m | €0.4m | 27 | 2025 |
| JM BRUNEAU BELGIUM Gent | 1999 | €9.8m | €0.08m | €62.6m | €3.0m | 40.8 | 2025 |
| MUTOH EUROPE Oostende | 1990 | €21.7m | €17.4m | €16.9m | -€1.6m | 27.1 | 2026 |
| Lab9 Pro Kortrijk | 1993 | €12.2m | €3.2m | €47.6m | €0.4m | 65 | 2025 |
| Infor (Belgium) Antwerpen | 1995 | €11.1m | €1.0m | €13.0m | €0.1m | 27.1 | 2025 |
They were chosen from the 1,402 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €512 awarded · €512 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €99 | €99 |
| 2023 | 1 | €0 | €190 |
| 2022 | 1 | €413 | €223 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.