PAMIFRAN

Inactive KBO/BCE: BE 0439.417.621

PAMIFRAN

Financial year 2018

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Annual accounts 2018

micro format, filed on 31-07-2019, on the day of the deadline

Gross margin

€60,495

unchanged

Operating result

€58,006

▲ 0.2%

Profit

€40,305

▲ 6.3%

Working capital

€33,625

▲ 7.4%

Solvency

51.9%

▼ 25.5 percentage points

Current ratio

1.51

▼ 1.05

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €180,000. Estimated: probably between €120,000 and €310,000.

Balance sheet

balance sheet total €136,371 on 31-12-2018

What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	136,371	88,531	82,416	83,132	74,570	70,714	82,492	246,028	230,259	211,631	191,522	186,136	167,896
Fixed assets`21/28`	37,184	37,184	37,184	37,184	38,615	40,046	41,702	43,359	45,051	48,266	50,852	55,575	61,518
Tangible fixed assets`22/27`	37,184	37,184	37,184	37,184	38,615	40,046	41,702	43,359	45,051	48,266	50,852	55,575	61,518
Land and buildings`22`	37,184	37,184	37,184	37,184	38,615	40,046	41,477	42,909	44,340	47,032	49,725	52,417	56,369
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	-	-	74	196
Furniture and vehicles`24`	-	-	-	-	-	-	225	450	675	900	498	995	1,493
Other tangible fixed assets`26`	-	-	-	-	-	-	-	-	36	333	630	2,089	3,460
Current assets`29/58`	99,187	51,347	45,232	45,948	35,955	30,667	40,789	202,670	185,208	163,365	140,669	130,561	106,378
Amounts receivable within one year`40/41`	88,077	42,477	29,080	29,212	17,709	10,181	817	9,005	22,386	33,269	42,225	-	2,844
Trade receivables`40`	-	-	-	-	-	-	-	-	-	-	-	-	1
Other amounts receivable`41`	88,077	42,477	29,080	29,212	17,709	10,181	817	9,005	22,386	33,269	42,225	-	2,843
Current investments`50/53`	-	-	-	-	-	-	-	-	-	-	94,000	111,056	50,246
Cash at bank and in hand`54/58`	10,832	8,608	13,906	16,484	17,996	20,240	38,098	191,853	162,605	129,875	4,056	19,030	52,854
Deferred charges and accrued income`490/1`	279	263	2,246	252	250	246	1,874	1,811	217	221	388	475	434
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	136,371	88,531	82,416	83,132	74,570	70,714	82,492	246,028	230,259	211,631	191,522	186,136	167,896
Equity`10/15`	70,809	68,505	68,606	69,005	68,440	69,161	68,892	234,783	229,845	211,069	190,741	185,320	167,896
Contributions`10/11`	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000
Issued capital`100`	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000	62,000
Reserves`13`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	39,663	39,663	39,663	39,663	39,663	39,663
Legal reserve`130`	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Distributable reserves`133`	-	-	-	-	-	-	-	33,463	33,463	33,463	33,463	33,463	33,463
Profit (loss) carried forward`14`	2,609	305	406	805	240	961	692	133,120	128,182	109,406	89,078	83,657	66,233
Amounts payable`17/49`	65,561	20,026	13,810	14,127	6,130	1,553	13,600	11,246	415	562	781	816	-
Amounts payable within one year`42/48`	65,561	20,026	13,810	14,127	6,130	1,553	13,600	11,246	189	336	781	816	-
Trade debts`44`	-	109	-	-	1,516	-	-	189	-	336	86	121	-
Suppliers`440/4`	-	109	-	-	1,516	-	-	189	-	336	86	121	-
Taxes, remuneration and social security`45`	27,561	19,917	13,810	14,100	4,585	1,525	9	6,564	189	-	695	695	-
Taxes`450/3`	27,561	19,917	13,810	14,100	4,585	1,525	9	6,564	189	-	695	695	-
Other amounts payable`47/48`	38,000	-	-	27	29	28	13,592	4,493	-	-	-	-	-
Accrued charges and deferred income`492/3`	-	-	-	-	-	-	-	-	226	226	-	-	-
Income statement
Gross operating margin`9900`	60,495	60,473	61,962	60,123	59,303	59,321	59,286	43,846	27,496	26,778	23,112	28,080	27,694
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	-	-	-	4,271	5,562	6,280	9,946	9,877	5,364
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	-	-	-	1,431	1,431	1,656	1,656	1,693	3,214	3,712	4,723	5,943	6,158
Other operating charges`640/8`	2,489	2,603	2,509	2,496	2,489	2,466	2,140	2,222	2,042	2,043	1,983	1,978	2,033
Operating profit (loss)`9901`	58,006	57,870	59,453	56,197	55,383	55,198	55,490	39,931	22,240	21,023	16,407	20,160	19,503
Financial income`75/76B`	3	7	10	19	35	167	2,273	4,229	2,045	5,270	3,034	3,922	1,184
Recurring financial income`75`	3	7	10	19	35	167	2,273	4,229	2,045	5,270	3,034	3,922	1,184
Financial charges`65/66B`	60	60	50	57	57	55	50	119	181	161	9,462	717	55
Recurring financial charges`65`	60	60	50	57	57	55	50	119	181	161	9,462	717	55
Profit (loss) for the period before taxes`9903`	57,949	57,817	59,412	56,158	55,360	55,310	57,712	44,041	24,104	26,132	9,979	23,365	20,631
Income taxes`67/77`	17,644	19,919	19,812	18,593	18,081	18,041	16,823	12,103	5,328	5,804	4,558	5,941	5,911
Profit (loss) for the period`9904`	40,305	37,899	39,601	37,565	37,279	37,269	40,889	31,938	18,776	20,328	5,421	17,424	14,720
Profit (loss) for the period to be appropriated`9905`	40,305	37,899	39,601	37,565	37,279	37,269	40,889	31,938	18,776	20,328	5,421	17,424	14,720
Appropriation of the result
Profit (loss) to be appropriated`9906`	40,609	38,305	40,406	37,805	38,240	37,961	174,009	160,120	128,182	109,406	89,078	83,657	66,233
Transfer from equity`791/2`	-	-	-	-	-	-	33,463	-	-	-	-	-	-
Profit to be distributed`694/7`	38,000	38,000	40,000	37,000	38,000	37,000	206,780	27,000	-	-	-	-	-
Return on contributions (dividend)`694`	38,000	38,000	40,000	37,000	38,000	37,000	206,780	27,000	-	-	-	-	-
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The accounts for 16 older financial years (1990-2005) were filed as documents without figures as data, scans for example.

Source: Annual accounts 2018 (PDF), filed on 31-07-2019.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2018	micro format	31-07-2019	2019-42800404	PDF
31-12-2017	micro format	03-07-2018	2018-28500324	PDF
31-12-2016	micro format	20-06-2017	2017-20000465	PDF
31-12-2015	abbreviated format	07-07-2016	2016-29500081	PDF
31-12-2014	abbreviated format	08-06-2015	2015-16000124	PDF
31-12-2013	abbreviated format	23-06-2014	2014-20800467	PDF
31-12-2012	abbreviated format	17-06-2013	2013-19000306	PDF
31-12-2011	abbreviated format	05-06-2012	2012-15400431	PDF
31-12-2010	abbreviated format	09-06-2011	2011-16000258	PDF
31-12-2009	abbreviated format	07-06-2010	2010-15800002	PDF
31-12-2008	abbreviated format	13-07-2009	2009-41900226	PDF
31-12-2007	abbreviated format	06-06-2008	2008-19800108	PDF
31-12-2006	abbreviated format	04-06-2007	2007-18800058	PDF
31-12-2005	abbreviated format	19-06-2006	2006-26701853	PDF
31-12-2004	abbreviated format	08-06-2005	2005-22300969	PDF
31-12-2003	abbreviated format	10-06-2004	2004-22600590	PDF
31-12-2002	abbreviated format	07-07-2003	2003-40202674	PDF
31-12-2001	abbreviated format	20-06-2002	2002-24200422	PDF
31-12-2000	abbreviated format	19-06-2001	2001-23002360	PDF
31-12-1999	abbreviated format	23-06-2000	2000-26703975	PDF
31-12-1998	abbreviated format	14-06-1999	1999-17502012	PDF
31-12-1997	abbreviated format	03-07-1998	1998-28701762	PDF
31-12-1996	abbreviated format	03-07-1997	1997-26702487	PDF
31-12-1995	abbreviated format	13-06-1996	1996-15802100	PDF
31-12-1994	abbreviated format	09-06-1995	1995-12805313	PDF
31-12-1993	abbreviated format	14-06-1994	1994-14800387	PDF
31-12-1992	abbreviated format	21-09-1993	1993-36700177	PDF
31-12-1991	abbreviated format	02-07-1992	1992-18903389	PDF
31-12-1990	abbreviated format	03-07-1991	1991-15604100	PDF

Key figures and ratios

per financial year, computed from the annual accounts

Line	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	-	-	-	57,628	56,814	56,855	57,146	41,624	25,454	24,735	21,129	26,103	25,661
Cash flow	-	-	-	38,997	38,710	38,925	42,545	33,631	21,990	24,040	10,144	23,367	20,878
Investment in fixed assets (approximation)	-	-	-	0	0	0	0	0	0	1,125	0	0	14,311
Change in cash	2,224	-5,298	-2,578	-1,512	-2,244	-17,858	-153,755	29,249	32,730	125,818	-14,973	-33,824	-
Working capital	33,625	31,321	31,422	31,821	29,825	29,115	27,189	191,424	185,019	163,029	139,888	129,745	-
Solvency	51.9%	77.4%	83.2%	83.0%	91.8%	97.8%	83.5%	95.4%	99.8%	99.7%	99.6%	99.6%	100.0%
Current ratio	1.51	2.56	3.28	3.25	5.87	19.75	3.00	18.02	-	-	-	-	-
Debt to equity	0.93	0.29	0.20	0.20	0.09	0.02	0.20	0.05	0.00	0.00	0.00	0.00	-
ROE	56.9%	55.3%	57.7%	54.4%	54.5%	53.9%	59.4%	13.6%	8.2%	9.6%	2.8%	9.4%	8.8%
ROA	29.6%	42.8%	48.0%	45.2%	50.0%	52.7%	49.6%	13.0%	8.2%	9.6%	2.8%	9.4%	8.8%
Supplier credit	-	-	-	-	-	-	-	16 days	-	20 days	3 days	4 days	-

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Insights on PAMIFRAN

The operating result for 2018 is 0% higher than in 2017. It is a recovery after the fall in 2017.

Debt's share of the balance-sheet total rises from 22.6% to 48.1%. Equity and debt are higher.