P1 CONSULT
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 31-08-2023, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
31 d late
2021
31 d late
2020
31 d late
2019
60 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, full schema
Turnover
€545k▼ 61.5%
2019 · €1.41M
2018: €506klowest in 3 years
2019: €1.41M▲ +180% vs 2018highest in 3 years
2020: €545k▼ -61.5% vs 2019
2018 → 2020
EBIT margin
24.6%▼ 46.1pp
2019 · 70.7%
2018: 19.1%lowest in 3 years
2019: 70.7%▲ +271% vs 2018highest in 3 years
2020: 24.6%▼ -65.3% vs 2019
2018 → 2020
Net result
€279k▼ 9.5%
2021 · €308k
2018: €-15klowest in 5 years
2019: €846k▲ +5600% vs 2018highest in 5 years
2020: €24k▼ -97.1% vs 2019
2021: €308k▲ +1160% vs 2020
2022: €279k▼ -9.5% vs 2021
2018 → 2022
Working capital
€-248k▲ 73.8%
2021 · €-945k
2018: €-2.24Mlowest in 5 years
2019: €-1.54M▲ +31.1% vs 2018
2020: €-1.62M▼ -4.9% vs 2019
2021: €-945k▲ +41.6% vs 2020
2022: €-248k▲ +73.8% vs 2021highest in 5 years
2018 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€506k-€1.41M▲ 180%€545k▼ 61.5%
2018: €506klowest in 3 years
2019: €1.41M▲ +180% vs 2018highest in 3 years
2020: €545k▼ -61.5% vs 2019
Equity€-136k-€711k€735k▲ 3.4%€1.04M▲ 41.9%€1.32M▲ 26.7%
2018: €-136klowest in 5 years
2019: €711k▲ +624% vs 2018
2020: €735k▲ +3.4% vs 2019
2021: €1.04M▲ +41.9% vs 2020
2022: €1.32M▲ +26.7% vs 2021highest in 5 years
Operating result€96k-€1.00M▲ 938%€134k▼ 86.6%€523k▲ 291%€93k▼ 82.1%
2018: €96k
2019: €1.00M▲ +938% vs 2018highest in 5 years
2020: €134k▼ -86.6% vs 2019
2021: €523k▲ +291% vs 2020
2022: €93k▼ -82.1% vs 2021lowest in 5 years
Net result€-15k-€846k€24k▼ 97.1%€308k▲ 1,160%€279k▼ 9.5%
2018: €-15klowest in 5 years
2019: €846k▲ +5600% vs 2018highest in 5 years
2020: €24k▼ -97.1% vs 2019
2021: €308k▲ +1160% vs 2020
2022: €279k▼ -9.5% vs 2021
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 82% below 2021 and is the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €5.66M
Fixed assets
€4.49M ▲ 54.4%
Current assets
€1.17M ▲ 14.7%
Equity and liabilities €5.66M
Equity
€1.32M ▲ 26.7%
Provisions
€400k
Debt
€3.94M ▲ 36.5%
Debt's share of the balance-sheet total falls from 73.4% to 69.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€302k▼
2021 · €688k
Cash flow
€487k▲
2021 · €473k
Current ratio
0.82▲
2021 · 0.52
Debt to equity
2.98▲
2021 · 2.77
ROE
21.1%▼
2021 · 29.5%
ROA
4.9%▼
2021 · 7.8%
Interest coverage
2.75▼
2021 · 5.77
Debt ≤ 1 year
€1.41M▼
2021 · €1.96M
Debt > 1 year
€2.50M▲
2021 · €922k
Income taxes
€6k▼
2021 · €105k
Staff costs
€105k▲
2021 · €69k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 51 lines
Balance sheet
Code20212022
Assets
Total assets20/58€3.93M€5.66M▲
Fixed assets21/28€2.91M€4.49M▲
Tangible fixed assets22/27€1.82M€3.41M▲
Land and buildings22€1.82M€3.41M▲
Plant, machinery and equipment23-€472
Furniture and vehicles24-€2k
Financial fixed assets28€1.09M€1.09M▼
Current assets29/58€1.02M€1.17M▲
Amounts receivable within one year40/41€528k€1.07M▲
Trade receivables40€24k€39k▲
Other amounts receivable41€505k€1.03M▲
Cash at bank and in hand54/58€488k€95k▼
Deferred charges and accrued income490/1€619€763▲
Equity and liabilities
Total equity and liabilities10/49€3.93M€5.66M▲
Equity10/15€1.04M€1.32M▲
Contributions10/11€881k€881k=
Profit (loss) carried forward14€162k€440k▲
Provisions and deferred taxes16-€400k
Provisions for liabilities and charges160/5-€400k
Other liabilities and charges164/5-€400k
Amounts payable17/49€2.88M€3.94M▲
Amounts payable after more than one year17€922k€2.50M▲
Financial debts170/4€922k€2.50M▲
Amounts payable within one year42/48€1.96M€1.41M▼
Current portion of amounts payable after more than one year42€199k€334k▲
Financial debts43€9k€3k▼
Credit institutions430/8€9k€3k▼
Trade debts44€64k€79k▲
Suppliers440/4€64k€79k▲
Taxes, remuneration and social security45€225k€130k▼
Taxes450/3€216k€116k▼
Remuneration and social security454/9€9k€13k▲
Other amounts payable47/48€1.47M€869k▼
Accrued charges and deferred income492/3€1k€24k▲
Income statement
Code20212022
Remuneration, social security and pensions62€69k€105k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€165k€208k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8-€400k
Other operating charges640/8€35k€87k▲
Gross operating margin9900€792k€894k▲
Operating profit (loss)9901€523k€93k▼
Financial income75/76B€9k€300k▲
Recurring financial income75€9k€300k▲
Financial charges65/66B€119k€110k▼
Recurring financial charges65€119k€110k▼
Profit (loss) for the period before taxes9903€413k€284k▼
Income taxes67/77€105k€6k▼
Profit (loss) for the period9904€308k€279k▼
Profit (loss) for the period to be appropriated9905€308k€279k▼
Appropriation of the result
Profit (loss) to be appropriated9906€162k€440k▲
Profit (loss) brought forward from the previous period14P€-146k€162k▲
Social balance
Average headcount (FTE)90870.81.3▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €506k | €1.41M | €545k | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €69k | €105k | ▲ 53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €162k | €163k | €165k | €165k | €208k | ▲ 26.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €400k | - |
| Other operating charges640/8 | - | - | - | €35k | €87k | ▲ 145% |
| Gross operating margin9900 | €358k | €1.27M | €384k | €792k | €894k | ▲ 12.8% |
| Operating profit (loss)9901 | €96k | €1.00M | €134k | €523k | €93k | ▼ 82.1% |
| Financial income75/76B | - | - | - | €9k | €300k | ▲ 3,100% |
| Recurring financial income75 | €51k | €2k | €4k | €9k | €300k | ▲ 3,100% |
| Financial charges65/66B | - | - | - | €119k | €110k | ▼ 8.1% |
| Recurring financial charges65 | €166k | €156k | €113k | €119k | €110k | ▼ 8.1% |
| Profit (loss) for the period before taxes9903 | €-19k | €847k | €25k | €413k | €284k | ▼ 31.2% |
| Income taxes67/77 | €-4k | €223 | €168 | €105k | €6k | ▼ 94.7% |
| Profit (loss) for the period9904 | €-15k | €846k | €24k | €308k | €279k | ▼ 9.5% |
| Profit (loss) for the period to be appropriated9905 | €-15k | €846k | €24k | €308k | €279k | ▼ 9.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.56M | €3.51M | €3.34M | €3.93M | €5.66M | ▲ 44.1% |
| Fixed assets21/28 | €3.34M | €3.20M | €3.08M | €2.91M | €4.49M | ▲ 54.4% |
| Tangible fixed assets22/27 | €2.26M | €2.11M | €1.99M | €1.82M | €3.41M | ▲ 86.9% |
| Land and buildings22 | - | - | - | €1.82M | €3.41M | ▲ 86.7% |
| Plant, machinery and equipment23 | - | - | - | - | €472 | - |
| Furniture and vehicles24 | - | - | - | - | €2k | - |
| Financial fixed assets28 | €1.09M | €1.09M | €1.09M | €1.09M | €1.09M | ▼ 0.1% |
| Current assets29/58 | €213k | €316k | €264k | €1.02M | €1.17M | ▲ 14.7% |
| Amounts receivable within one year40/41 | €31k | €96k | €131k | €528k | €1.07M | ▲ 103% |
| Trade receivables40 | - | - | - | €24k | €39k | ▲ 66.9% |
| Other amounts receivable41 | - | - | - | €505k | €1.03M | ▲ 104% |
| Cash at bank and in hand54/58 | €177k | €219k | €132k | €488k | €95k | ▼ 80.5% |
| Deferred charges and accrued income490/1 | - | - | - | €619 | €763 | ▲ 23.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.56M | €3.51M | €3.34M | €3.93M | €5.66M | ▲ 44.1% |
| Equity10/15 | €-136k | €711k | €735k | €1.04M | €1.32M | ▲ 26.7% |
| Contributions10/11 | €881k | €881k | - | €881k | €881k | = |
| Profit (loss) carried forward14 | €-1.02M | €-170k | €-146k | €162k | €440k | ▲ 172% |
| Provisions and deferred taxes16 | - | - | - | - | €400k | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €400k | - |
| Other liabilities and charges164/5 | - | - | - | - | €400k | - |
| Amounts payable17/49 | €3.69M | €2.80M | €2.60M | €2.88M | €3.94M | ▲ 36.5% |
| Amounts payable after more than one year17 | €1.24M | €942k | €720k | €922k | €2.50M | ▲ 171% |
| Financial debts170/4 | - | - | - | €922k | €2.50M | ▲ 171% |
| Amounts payable within one year42/48 | €2.45M | €1.86M | €1.88M | €1.96M | €1.41M | ▼ 27.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €199k | €334k | ▲ 68.0% |
| Financial debts43 | - | - | - | €9k | €3k | ▼ 69.1% |
| Credit institutions430/8 | - | - | - | €9k | €3k | ▼ 69.1% |
| Trade debts44 | €54k | €10k | €91k | €64k | €79k | ▲ 23.6% |
| Suppliers440/4 | - | - | - | €64k | €79k | ▲ 23.6% |
| Taxes, remuneration and social security45 | - | - | - | €225k | €130k | ▼ 42.3% |
| Taxes450/3 | - | - | - | €216k | €116k | ▼ 46.2% |
| Remuneration and social security454/9 | - | - | - | €9k | €13k | ▲ 53.1% |
| Other amounts payable47/48 | - | - | - | €1.47M | €869k | ▼ 40.7% |
| Accrued charges and deferred income492/3 | - | - | - | €1k | €24k | ▲ 2,134% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-15k | €846k | €24k | €308k | €279k | ▼ 9.5% |
| + Depreciation and write-downs630 | €162k | €163k | €165k | €165k | €208k | ▲ 26.4% |
| Operating cash flow (approximation) | €147k | €1.01M | €189k | €473k | €487k | ▲ 3.0% |
| Investment in fixed assets (approximation) | - | €-15k | €-44k | €310 | €-1.79M | ▼ 578,500% |
| Change in cash | - | €42k | €-87k | €356k | €-393k | ▼ 210% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2024
12-01
State Gazette act
General meeting · Board meeting
Director resignation · Director discharge
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
13-07
State Gazette act
General meeting · Demerger
Accounting effect · Real estate
04-05
State Gazette act
Demerger · Share issue
Share cancellation · Accounting effect
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Equity above €1MEq €1.04M ▲41.9%
3 profitable years in a row build equity to €1.04M.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
20-10
State Gazette act
General meeting · Purpose change
Statutes amendment · Capital
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 60 days late
2019
31-12
Financial
Back to profitnet €846k
Net result €846k after one loss-making year.
31-12
Financial
Equity above €500kEq €711k
Equity rises from €-136k to €711k.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
05-04
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
27-04
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
17-03
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Acquisitions and mergers
2 transactionsSplit off to:AD VALUE IMMO
Split off to:PROFIRST INTERNATIONAL