Palettes export
Open bankruptcyFinancials · financial year 2023, full format
2023 annual accounts filed late (181 days) Filed on 28 January 2025, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2025-00012118.
Turnover
≈ €1.1m
Estimated: probably between €650,000 and €1.8m
EBIT margin
Not included in this filing
Net result
-€16,812
2022 · €93,037
Working capital
€123,126▲ 8.2%
2022 · €113,791
Trend over the years
2020 to 2023, 4 financial years
The operating result falls in 2023; 2023 is 82% below 2022 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€23,357
2023
Net result-€16,812
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€920,660
2023
Equity€205,026
2023
Debt€715,635
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€123,126
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-1.8%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency22.3%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.18
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)10
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2020202120222023
Operating result€41,505-€93,385▲ 125%€129,197▲ 38.3%€23,357▼ 81.9%
Net result€32,384above the sector's middle half-€66,417above the sector's middle half▲ 105%€93,037within the sector's middle half▲ 40.1%-€16,812below the sector's middle half
Equity€62,384within the sector's middle half-€128,801within the sector's middle half▲ 106%€221,838below the sector's middle half▲ 72.2%€205,026within the sector's middle half▼ 7.6%
Total assets€135,021within the sector's middle half-€290,610within the sector's middle half▲ 115%€564,115below the sector's middle half▲ 94.1%€920,660within the sector's middle half▲ 63.2%
Debt€72,637-€161,809▲ 123%€342,277▲ 112%€715,635▲ 109%
Working capital€28,143within the sector's middle half-€69,938within the sector's middle half▲ 149%€113,791within the sector's middle half▲ 62.7%€123,126within the sector's middle half▲ 8.2%
Solvency46.2%within the sector's middle half-44.3%within the sector's middle half▼ 1.9pp39.3%within the sector's middle half▼ 5.0pp22.3%within the sector's middle half▼ 17.1pp
Current ratio1.39within the sector's middle half-1.43within the sector's middle half▲ 0.041.33within the sector's middle half▼ 0.101.18within the sector's middle half▼ 0.15
Return on assets (ROA)24.0%above the sector's middle half-22.9%above the sector's middle half▼ 1.1pp16.5%above the sector's middle half▼ 6.4pp-1.8%below the sector's middle half▼ 18.3pp
Staff (FTE)7.711within the sector's middle half▲ 42.9%10within the sector's middle half▼ 9.1%
above
within
below
the middle half of NACE 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €920,660
Fixed assets
€106,462 ▼ 1.5%
Current assets
€814,198 ▲ 78.5%
Equity and liabilities €920,660
Equity
€205,026 ▼ 7.6%
Debt
€715,635 ▲ 109%
Debt's share of the balance-sheet total rises from 60.7% to 77.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€51,041▼
2022 · €149,285
Cash flow
€10,872▼
2022 · €113,125
Quick ratio
0.73▲
2022 · 0.71
Debt to equity
3.49▲
2022 · 1.54
ROE
-8.2%▼
2022 · 41.9%
Interest coverage
1.42▼
2022 · 21.09
Debt ≤ 1 year
€691,073▲
2022 · €342,277
Debt > 1 year
€24,562
Income taxes
€4,506▼
2022 · €29,141
Staff costs
€392,733▲
2022 · €303,190
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €292,620 | €303,190 | €392,733 | ▲ 29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,233 | €11,036 | €20,088 | €27,685 | ▲ 37.8% |
| Other operating charges640/8 | - | €5,223 | €13,694 | €12,387 | ▼ 9.5% |
| Non-recurring operating charges66A | - | - | - | €1,181 | - |
| Gross operating margin9900 | €95,876 | €402,263 | €466,169 | €457,342 | ▼ 1.9% |
| Operating profit (loss)9901 | €41,505 | €93,385 | €129,197 | €23,357 | ▼ 81.9% |
| Financial income75/76B | - | €39 | €61 | €305 | ▲ 398% |
| Recurring financial income75 | - | €39 | €61 | €305 | ▲ 398% |
| Financial charges65/66B | - | €10,081 | €7,080 | €35,968 | ▲ 408% |
| Recurring financial charges65 | €121 | €10,081 | €7,080 | €35,968 | ▲ 408% |
| Profit (loss) for the period before taxes9903 | €41,384 | €83,343 | €122,178 | -€12,306 | - |
| Income taxes67/77 | €9,000 | €16,925 | €29,141 | €4,506 | ▼ 84.5% |
| Profit (loss) for the period9904 | €32,384 | €66,417 | €93,037 | -€16,812 | - |
| Profit (loss) for the period to be appropriated9905 | €32,384 | €66,417 | €93,037 | -€16,812 | - |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €135,021 | €290,610 | €564,115 | €920,660 | ▲ 63.2% |
| Fixed assets21/28 | €34,241 | €58,863 | €108,047 | €106,462 | ▼ 1.5% |
| Tangible fixed assets22/27 | €25,141 | €46,500 | €79,484 | €52,899 | ▼ 33.4% |
| Plant, machinery and equipment23 | - | €36,437 | €47,832 | €29,265 | ▼ 38.8% |
| Furniture and vehicles24 | - | €10,063 | €31,652 | €23,634 | ▼ 25.3% |
| Financial fixed assets28 | €9,100 | €12,363 | €28,563 | €53,563 | ▲ 87.5% |
| Current assets29/58 | €100,780 | €231,747 | €456,068 | €814,198 | ▲ 78.5% |
| Stocks and contracts in progress3 | €24,169 | €91,000 | €213,391 | €310,245 | ▲ 45.4% |
| Stocks30/36 | - | €91,000 | €213,391 | €310,245 | ▲ 45.4% |
| Amounts receivable within one year40/41 | €3,764 | €20,322 | €153,263 | €412,458 | ▲ 169% |
| Trade receivables40 | - | €10,305 | €99,511 | €314,494 | ▲ 216% |
| Other amounts receivable41 | - | €10,017 | €53,752 | €97,964 | ▲ 82.3% |
| Cash at bank and in hand54/58 | €72,847 | €120,425 | €71,239 | €71,811 | ▲ 0.8% |
| Deferred charges and accrued income490/1 | - | - | €18,175 | €19,684 | ▲ 8.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €135,021 | €290,610 | €564,115 | €920,660 | ▲ 63.2% |
| Equity10/15 | €62,384 | €128,801 | €221,838 | €205,026 | ▼ 7.6% |
| Contributions10/11 | - | €30,000 | €30,000 | €30,000 | = |
| Contributions outside capital11 | - | €30,000 | €30,000 | €30,000 | = |
| Other1109/19 | - | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | - | - | €191,838 | €191,838 | = |
| Distributable reserves133 | - | - | €191,838 | €191,838 | = |
| Profit (loss) carried forward14 | €32,384 | €98,801 | - | -€16,812 | - |
| Amounts payable17/49 | €72,637 | €161,809 | €342,277 | €715,635 | ▲ 109% |
| Amounts payable after more than one year17 | - | - | - | €24,562 | - |
| Financial debts170/4 | - | - | - | €24,562 | - |
| Amounts payable within one year42/48 | €72,637 | €161,809 | €342,277 | €691,073 | ▲ 102% |
| Current portion of amounts payable after more than one year42 | - | - | €23,112 | €9,044 | ▼ 60.9% |
| Financial debts43 | - | - | €190 | €73,300 | ▲ 385× |
| Credit institutions430/8 | - | - | €190 | €73,300 | ▲ 385× |
| Trade debts44 | €21,496 | €50,532 | €227,388 | €421,261 | ▲ 85.3% |
| Suppliers440/4 | - | €50,532 | €227,388 | €421,261 | ▲ 85.3% |
| Taxes, remuneration and social security45 | - | €107,155 | €14,232 | €91,447 | ▲ 543% |
| Taxes450/3 | - | €98,978 | €13,597 | €58,133 | ▲ 328% |
| Remuneration and social security454/9 | - | €8,177 | €635 | €33,315 | ▲ 52× |
| Other amounts payable47/48 | - | €4,122 | €77,353 | €96,021 | ▲ 24.1% |
| Line | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,384 | €66,417 | €93,037 | -€16,812 | - |
| + Depreciation and write-downs630 | €1,233 | €11,036 | €20,088 | €27,685 | ▲ 37.8% |
| Operating cash flow (approximation) | €33,617 | €77,453 | €113,125 | €10,872 | ▼ 90.4% |
| Investment in fixed assets (approximation) | - | -€35,658 | -€69,271 | -€26,100 | ▲ 62.3% |
| Change in cash | - | €47,578 | -€49,186 | €571 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | full format | 28-01-2025 | 2025-00012118 |
| 31-12-2022 | full format | 31-08-2023 | 2023-00429718 |
| 31-12-2021 | micro format | 23-08-2022 | 2022-20325293 |
| 31-12-2020 | micro format | 24-08-2021 | 2021-53600217 |
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Of the 123 active companies whose main activity is manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16240), figures are known for 86. 53 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.