Pharrowtech
Annual accounts 2023
abbreviated format, filed on 13-08-2024, 13 days lateTurnover and EBIT margin are not published. The abbreviated format does not require them.
Balance sheet
balance sheet total €3.8m on 31-12-2023in €m
in €m
Position in the sector
75.8%
Higher than 81% of 2,639 companies in 2023.
2.17
Higher than 60% of 2,602 companies in 2023.
-459.2%
Lower than 95% of 2,627 companies in 2023.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: top quarter
Staff
€111,536
Staff costs divided by the average number of full-time equivalents.
+3 people
In 2023, 8 people joined and 5 left. Training hours in 2023: 12.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
3.8m | 21.3m | 8.0m | 6.2m | |
21/28 |
1.8m | 11.4m | 7.0m | 4.3m | |
21 |
373,634 | 9.7m | 6.4m | 4.0m | |
22/27 |
1.4m | 1.7m | 567,561 | 298,528 | |
23 |
1.3m | 1.4m | 478,126 | 220,659 | |
24 |
71,425 | 86,213 | 67,817 | 52,301 | |
25 |
- | 5,403 | 15,486 | - | |
26 |
102,026 | 115,307 | 6,133 | - | |
28 |
1 | 9,001 | 9,000 | 9,000 | |
29/58 |
2.0m | 9.9m | 960,589 | 1.8m | |
40/41 |
439,555 | 7.3m | 155,318 | 84,579 | |
40 |
9,415 | 112,658 | 40,627 | - | |
41 |
430,140 | 7.1m | 114,691 | 84,579 | |
54/58 |
1.5m | 2.3m | 769,388 | 1.7m | |
490/1 |
64,558 | 337,694 | 35,883 | 27,886 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
3.8m | 21.3m | 8.0m | 6.2m | |
10/15 |
2.9m | 20.4m | 7.4m | 5.9m | |
10/11 |
23.2m | 23.2m | 8.2m | 7.2m | |
14 |
-20.3m | -2.8m | -813,870 | -1.2m | |
17/49 |
924,493 | 847,013 | 557,690 | 226,314 | |
17 |
- | 16,667 | 21,488 | - | |
178/9 |
- | 16,667 | 21,488 | - | |
42/48 |
924,493 | 830,346 | 536,202 | 226,314 | |
42 |
- | 21,485 | 55,858 | 15,126 | |
44 |
621,867 | 590,195 | 343,720 | 139,951 | |
440/4 |
621,867 | 590,195 | 343,720 | 139,951 | |
45 |
302,626 | 218,667 | 136,623 | 71,237 | |
450/3 |
- | 37 | - | - | |
454/9 |
302,626 | 218,630 | 136,623 | 71,237 | |
| Income statement | |||||
9900 |
-5.0m | 618,883 | 1.9m | -295,398 | |
62 |
2.6m | 2.1m | 1.1m | 553,295 | |
630 |
656,472 | 399,754 | 328,720 | 369,020 | |
640/8 |
898 | 3,593 | 1,129 | 15 | |
66A |
9.3m | 53,890 | - | - | |
9901 |
-17.5m | -2.0m | 444,660 | -1.2m | |
75/76B |
1,150 | 1,933 | 7 | 278 | |
75 |
1,150 | 1,933 | 7 | 278 | |
65/66B |
23,748 | 39,125 | 13,393 | 27,694 | |
65 |
23,748 | 39,125 | 13,393 | 27,694 | |
9903 |
-17.5m | -2.0m | 431,274 | -1.2m | |
9904 |
-17.5m | -2.0m | 431,274 | -1.2m | |
9905 |
-17.5m | -2.0m | 431,274 | -1.2m | |
| Appropriation of the result | |||||
9906 |
-20.3m | -2.8m | -813,870 | -1.2m | |
14P |
-2.8m | -813,870 | -1.2m | - | |
| Social balance sheet | |||||
9087 |
23.4 | 20 | 11.4 | 4.2 | |
Hours worked1013 |
40,692 | 35,556 | 20,833 | 9,998 | |
| Document | |||||
The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2023 (PDF), filed on 13-08-2024.
Filings
each dot is a set of accounts, on the day it reached the National Bank2023 annual accounts filed 13 days after the deadline. Filed on 13 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00341579.
Subsidies and aid
Flemish government 2022 to 2024, 3 entries, €8,331 awarded, €7,313 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 2 | €7,431 | €6,413 |
| 2022 | 1 | €900 | €900 |
European Union 2024, 1 entry, €2.5m in total
European research 3 projects, 1 as coordinator, €2.9m EU contribution
Projects
- Next-Gen Wireless Chip and Antenna Tech for Wi-Fi 8Horizon Europe, coordinator, 01-01-2025 to 31-12-2026, €2.5m, SWIFT
- MACHINE LEARNING-BASED, NETWORKING AND COMPUTING INFRASTRUCTURE RESOURCE MANAGEMENT OF 5G AND BEYOND INTELLIGENT NETWORKSHorizon 2020, participant, 01-01-2021 to 30-06-2024, €361,250, MARSAL
- European Doctoral Network for Resilient Remote Healthcare using Intelligent Sensing and Communication TechnologiesHorizon Europe, associated partner, 01-02-2025 to 31-01-2029, SMARTTEST
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| -16.8m | -1.6m | 773,380 | -848,708 | ||
| -16.9m | -1.6m | 759,994 | -876,124 | ||
| 383,986 | 4.8m | 3.0m | 4.7m | ||
| -797,726 | 1.5m | -944,971 | - | ||
| 1.1m | 9.1m | 424,387 | 1.6m | ||
| 75.8% | 96.0% | 93.0% | 96.3% | ||
| 2.17 | 11.92 | 1.79 | 8.07 | ||
| 0.32 | 0.04 | 0.08 | 0.04 | ||
| -606.0% | -9.7% | 5.8% | -20.9% | ||
| -459.2% | -9.4% | 5.4% | -20.2% | ||
| -709.38 | -39.70 | 57.74 | - |
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.
Social balance sheet
| Item | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|
| Employees at the balance-sheet date | 26 | 23 | 15 |
| full-time | 23 | 21 | 14 |
| part-time | 3 | 2 | 1 |
| in full-time equivalents | 25.1 | 22.6 | 14.8 |
| 23.4 | 20 | 11.4 | |
| On a permanent contract | 26 | 23 | 15 |
| Joined | 8 | 11 | 9 |
| Left | 5 | 3 | 2 |
| Training hours | 12 | - | - |
Source: social balance sheet in the 2021 to 2023 annual accounts
Securities and guarantees
on own assets and for others| Item | 2023 | 2022 | 2021 |
|---|---|---|---|
| €75,000 | - | - |
Source: notes to the 2021 to 2023 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2023 | 2022 | 2021 |
|---|---|---|---|
| Tangible fixed assets | €201,083 | €1.3m | €387,391 |
| Intangible fixed assets | €182,903 | €3.5m | €2.6m |
| Financial fixed assets | - | €1 | - |
| €656,472 | €399,754 | €328,720 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Insights on Pharrowtech
The operating result for 2023 is a loss of €17.5m, larger than the loss of €2.0m in 2022. It is the lowest result since 2020.
Debt's share of the balance-sheet total rises from 4.0% to 24.2%. Equity is lower and debt is higher.
- 2022 Equity +176%, Total assets +167% on 2021. Capital increase of €13,999,992 (Official Gazette 22-04-2022).