PHILING
InactiveInactive; last annual accounts for fiscal year 2015.
Signals
Two signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 30-06-2015. Since then, 10 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
30-06-2016 close31-01-2017 deadline30-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2015 was due by 31-01-2016 and was filed on 12-01-2016, 19 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
not filed
← before the deadline
after the deadline →
tick = median of all Belgian filings
The Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2015, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€357,566
2014 · €44,409
Working capital
€938,528▲ 64.2%
2014 · €571,439
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20112012201320142015
Operating result-€100,669--€88,497▲ 12.1%-€70,632▲ 20.2%-€66,782▲ 5.5%-€8,054▲ 87.9%
Net result€427,405-€303,292▼ 29.0%€10.8m▲ 3,450%€44,409▼ 99.6%-€357,566
Equity€8.6m-€8.9m▲ 3.5%€1.4m▼ 84.0%€1.5m▲ 3.1%€1.1m▼ 24.4%
Total assets€12.7m-€12.5m▼ 1.1%€20.5m▲ 63.6%€4.2m▼ 79.8%€1.6m▼ 60.3%
Debt€4.1m-€3.7m▼ 10.8%€19.1m▲ 423%€2.7m▼ 85.9%€538,422▼ 80.0%
Working capital€265,543-€171,675▼ 35.3%-€16.7m€571,439€938,528▲ 64.2%
Staff (FTE)0.50.5=0.5=
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8,054 in 2015 against €66,782 in 2014; the loss shrinks.
Balance-sheet composition
2015 in colour, 2014 as the grey bar beneath
Assets €1.6m
Fixed assets
€170,554 ▼ 80.9%
Current assets
€1.5m ▼ 54.7%
Equity and liabilities €1.6m
Equity
€1.1m ▼ 24.4%
Debt
€538,422 ▼ 80.0%
Debt's share of the balance-sheet total falls from 64.7% to 32.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€6,852▲
2014 · -€36,539
Cash flow
-€356,364▼
2014 · €74,652
Current ratio
2.74▲
2014 · 1.21
Quick ratio
2.58▲
2014 · 1.19
ROE
-32.2%▼
2014 · 3.0%
ROA
-21.7%▼
2014 · 1.1%
Debt ≤ 1 year
€538,422▼
2014 · €2.7m
Income taxes
€1,589▲
2014 · -€169,572
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2011 | 2012 | 2013 | 2014 | 2015 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,097 | €34,816 | €35,490 | €30,243 | €1,202 | ▼ 96.0% |
| Gross operating margin9900 | -€63,352 | -€32,973 | -€8,738 | -€16,699 | -€4,499 | ▲ 73.1% |
| Operating profit (loss)9901 | -€100,669 | -€88,497 | -€70,632 | -€66,782 | -€8,054 | ▲ 87.9% |
| Recurring financial income75 | €640,345 | €646,131 | €678,153 | €1,439 | €1,699 | ▲ 18.1% |
| Recurring financial charges65 | €43,388 | €61,362 | €24,850 | €236 | €837 | ▲ 255% |
| Profit (loss) for the period before taxes9903 | €427,405 | €300,425 | €10.9m | -€125,163 | -€355,976 | ▼ 184% |
| Income taxes67/77 | - | -€2,867 | €169,467 | -€169,572 | €1,589 | ▲ 101% |
| Profit (loss) for the period9904 | €427,405 | €303,292 | €10.8m | €44,409 | -€357,566 | ▼ 905% |
| Profit (loss) for the period to be appropriated9905 | €427,405 | €303,292 | €10.8m | €44,409 | -€357,566 | ▼ 905% |
| Line | 2011 | 2012 | 2013 | 2014 | 2015 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.7m | €12.5m | €20.5m | €4.2m | €1.6m | ▼ 60.3% |
| Fixed assets21/28 | €10.7m | €10.8m | €18.1m | €895,208 | €170,554 | ▼ 80.9% |
| Tangible fixed assets22/27 | €924,215 | €895,119 | €905,550 | €887,484 | €163,394 | ▼ 81.6% |
| Financial fixed assets28 | €9.8m | €9.9m | €17.2m | €7,724 | €7,160 | ▼ 7.3% |
| Current assets29/58 | €2.0m | €1.7m | €2.4m | €3.3m | €1.5m | ▼ 54.7% |
| Stocks and contracts in progress3 | €57,619 | €53,862 | €66,835 | €54,201 | €88,272 | ▲ 62.9% |
| Amounts receivable within one year40/41 | €773,968 | €331,766 | €1.8m | €614,996 | €637,305 | ▲ 3.6% |
| Current investments50/53 | €403,480 | €1.0m | - | - | - | - |
| Cash at bank and in hand54/58 | €729,085 | €314,740 | €558,193 | €2.6m | €751,374 | ▼ 71.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.7m | €12.5m | €20.5m | €4.2m | €1.6m | ▼ 60.3% |
| Equity10/15 | €8.6m | €8.9m | €1.4m | €1.5m | €1.1m | ▼ 24.4% |
| Contributions10/11 | €132,623 | €132,623 | €132,623 | €132,623 | €132,623 | = |
| Reserves13 | €13,262 | €13,262 | €13,262 | €13,262 | €13,262 | = |
| Profit (loss) carried forward14 | €8.4m | €8.7m | €1.3m | €1.3m | €963,196 | ▼ 27.1% |
| Amounts payable17/49 | €4.1m | €3.7m | €19.1m | €2.7m | €538,422 | ▼ 80.0% |
| Amounts payable after more than one year17 | €2.4m | €2.1m | - | - | - | - |
| Amounts payable within one year42/48 | €1.7m | €1.5m | €19.1m | €2.7m | €538,422 | ▼ 80.0% |
| Trade debts44 | €4,637 | €13,368 | €40,194 | €97 | €12,953 | ▲ 13,257% |
| Line | 2011 | 2012 | 2013 | 2014 | 2015 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €427,405 | €303,292 | €10.8m | €44,409 | -€357,566 | ▼ 905% |
| + Depreciation and write-downs630 | €34,097 | €34,816 | €35,490 | €30,243 | €1,202 | ▼ 96.0% |
| Operating cash flow (approximation) | €461,502 | €338,108 | €10.8m | €74,652 | -€356,364 | ▼ 577% |
| Investment in fixed assets (approximation) | - | -€159,150 | -€7.3m | €17.2m | €723,453 | ▼ 95.8% |
| Change in cash | - | -€414,345 | €243,453 | €2.0m | -€1.8m | ▼ 190% |
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
2016
12-01
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
30-06
Financial
Weakest financial yearnet -€357,566
Net result drops to -€357,566, the lowest in the series.
30-06
Financial
Liquidity doublescurrent ratio 2.74
Current ratio from 1.21 to 2.74; short-term debt falls from €2.7m to €538,422.
25-02
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 25 days late
2014
30-06
Financial
Liquidity times 9current ratio 1.21
Current ratio from 0.13 to 1.21; short-term debt falls from €19.1m to €2.7m.
17-02
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 17 days late
2013
30-06
Financial
Highest result since 2011net €10.8m ▲3,450%
Net result €10.8m, the highest in the series.
13-02
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 13 days late
2012
14-02
NBB filing
Annual accounts filed
fiscal year 2011 · full schema · 14 days late
2011
14-02
NBB filing
Annual accounts filed
fiscal year 2010 · full schema · 14 days late
2010
29-01
NBB filing
Annual accounts filed
fiscal year 2009 · full schema
2009
23-01
NBB filing
Annual accounts filed
fiscal year 2008 · full schema
2008
10-01
NBB filing
Annual accounts filed
fiscal year 2007 · full schema
2007
11-01
NBB filing
Annual accounts filed
fiscal year 2006 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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About the unread acts
We know of 4 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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