FINE LINE
Bankruptcy closedFinancials · financial year 2022, micro format
2022 annual accounts filed 122 days after the deadline Filed on 30 November 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00519057.
Annual accounts 2022 filed on 30-11-2023 PDF all 20 filings
Turnover
≈ €210,000
Estimated: probably between €140,000 and €360,000
Total assets
€536,935▼ 1.7%
2021 · €546,028
Net result
-€16,836
2021 · €24,737
Working capital
-€140,856▼ 219%
2021 · -€44,129
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result for 2022 is a loss of €9,325, after a profit of €41,949 in 2021.
Operating result-€9,325
2022
Net result-€16,836
2022
Total assets€536,935
2022
Equity€54,666
2022
Debt€482,269
2022
Working capital-€140,856
2022
Staff (FTE)1
2022
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result-€726--€13,358▼ 1,740%€59,179€41,949▼ 29.1%-€9,325
Net result-€786--€13,419▼ 1,607%€46,165€24,737▼ 46.4%-€16,836
Equity€67,522-€26,000▼ 61.5%€46,765▲ 79.9%€71,502▲ 52.9%€54,666▼ 23.5%
Total assets€68,182-€55,310▼ 18.9%€122,832▲ 122%€546,028▲ 345%€536,935▼ 1.7%
Debt€659-€29,310▲ 44×€76,067▲ 160%€474,526▲ 524%€482,269▲ 1.6%
Working capital€60,988-€26,000▼ 57.4%€27,719▲ 6.6%-€44,129-€140,856▼ 219%
Staff (FTE)0.91▲ 11.1%
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €536,935
Fixed assets
€323,256 ▲ 5.1%
Current assets
€213,680 ▼ 10.4%
Equity and liabilities €536,935
Equity
€54,666 ▼ 23.5%
Debt
€482,269 ▲ 1.6%
Debt's share of the balance-sheet total rises from 86.9% to 89.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€14,763▼
2021 · €84,871
Cash flow
€7,253▼
2021 · €67,660
Current ratio
0.60▼
2021 · 0.84
Debt to equity
8.82▲
2021 · 6.64
ROE
-30.8%▼
2021 · 34.6%
ROA
-3.1%▼
2021 · 4.5%
Interest coverage
2.03▼
2021 · 12.85
Debt ≤ 1 year
€354,536▲
2021 · €282,577
Debt > 1 year
€127,733▼
2021 · €191,949
Income taxes
€251▼
2021 · €10,677
Staff costs
€47,267▲
2021 · €37,953
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 0.9 | 1 |
| On a permanent contract | 1 | 1 |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | €331,457 | €39,764 |
| Depreciation and write-downs of the year | €42,923 | €24,088 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €108 awarded · €108 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €37,953 | €47,267 | ▲ 24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €4,761 | €42,923 | €24,088 | ▼ 43.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €12,023 | - | - |
| Other operating charges640/8 | - | - | - | €16,201 | €6,701 | ▼ 58.6% |
| Gross operating margin9900 | -€379 | -€6,475 | €76,572 | €151,048 | €68,731 | ▼ 54.5% |
| Operating profit (loss)9901 | -€726 | -€13,358 | €59,179 | €41,949 | -€9,325 | - |
| Financial income75/76B | - | - | - | €70 | €1 | ▼ 99.2% |
| Recurring financial income75 | €1 | - | €272 | €70 | €1 | ▼ 99.2% |
| Financial charges65/66B | - | - | - | €6,605 | €7,260 | ▲ 9.9% |
| Recurring financial charges65 | €60 | €61 | €610 | €6,605 | €7,260 | ▲ 9.9% |
| Profit (loss) for the period before taxes9903 | -€786 | -€13,419 | €58,841 | €35,414 | -€16,585 | - |
| Income taxes67/77 | €0 | - | €12,676 | €10,677 | €251 | ▼ 97.6% |
| Profit (loss) for the period9904 | -€786 | -€13,419 | €46,165 | €24,737 | -€16,836 | - |
| Profit (loss) for the period to be appropriated9905 | -€786 | -€13,419 | €50,165 | €24,737 | -€16,836 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €68,182 | €55,310 | €122,832 | €546,028 | €536,935 | ▼ 1.7% |
| Fixed assets21/28 | €6,535 | - | €19,045 | €307,580 | €323,256 | ▲ 5.1% |
| Intangible fixed assets21 | €6,000 | - | - | - | - | - |
| Tangible fixed assets22/27 | €535 | - | €19,045 | €307,580 | €323,256 | ▲ 5.1% |
| Plant, machinery and equipment23 | - | - | - | €4,915 | €9,288 | ▲ 89.0% |
| Furniture and vehicles24 | - | - | - | €144,679 | €170,981 | ▲ 18.2% |
| Leasing and similar rights25 | - | - | - | €157,987 | €142,987 | ▼ 9.5% |
| Current assets29/58 | €61,647 | €55,310 | €103,786 | €238,448 | €213,680 | ▼ 10.4% |
| Stocks and contracts in progress3 | €6,089 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €24,568 | - | €82,922 | €230,432 | €201,909 | ▼ 12.4% |
| Trade receivables40 | - | - | - | €207,597 | €174,393 | ▼ 16.0% |
| Other amounts receivable41 | - | - | - | €22,835 | €27,516 | ▲ 20.5% |
| Cash at bank and in hand54/58 | €30,990 | €55,310 | €20,865 | €7,800 | €10,997 | ▲ 41.0% |
| Deferred charges and accrued income490/1 | - | - | - | €215 | €773 | ▲ 259% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €68,182 | €55,310 | €122,832 | €546,028 | €536,935 | ▼ 1.7% |
| Equity10/15 | €67,522 | €26,000 | €46,765 | €71,502 | €54,666 | ▼ 23.5% |
| Contributions10/11 | €20,000 | €20,000 | - | - | - | - |
| Reserves13 | €67,368 | €6,000 | €46,765 | €71,502 | €71,502 | = |
| Distributable reserves133 | - | - | - | €71,502 | €71,502 | = |
| Profit (loss) carried forward14 | -€19,845 | - | - | - | -€16,836 | - |
| Amounts payable17/49 | €659 | €29,310 | €76,067 | €474,526 | €482,269 | ▲ 1.6% |
| Amounts payable after more than one year17 | - | - | - | €191,949 | €127,733 | ▼ 33.5% |
| Financial debts170/4 | - | - | - | €191,949 | €127,733 | ▼ 33.5% |
| Amounts payable within one year42/48 | €659 | €29,310 | €76,067 | €282,577 | €354,536 | ▲ 25.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €97,998 | €117,827 | ▲ 20.2% |
| Financial debts43 | - | - | - | €2,520 | €2,524 | ▲ 0.2% |
| Credit institutions430/8 | - | - | - | €2,520 | €2,524 | ▲ 0.2% |
| Trade debts44 | - | - | €45,630 | €150,003 | €215,145 | ▲ 43.4% |
| Suppliers440/4 | - | - | - | €150,003 | €215,145 | ▲ 43.4% |
| Taxes, remuneration and social security45 | - | - | - | €5,533 | €18,218 | ▲ 229% |
| Taxes450/3 | - | - | - | €1,174 | €2,100 | ▲ 78.9% |
| Remuneration and social security454/9 | - | - | - | €4,360 | €16,118 | ▲ 270% |
| Other amounts payable47/48 | - | - | - | €26,523 | €823 | ▼ 96.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€786 | -€13,419 | €46,165 | €24,737 | -€16,836 | - |
| + Depreciation and write-downs630 | - | - | €4,761 | €42,923 | €24,088 | ▼ 43.9% |
| Operating cash flow (approximation) | -€786 | -€13,419 | €50,926 | €67,660 | €7,253 | ▼ 89.3% |
| Investment in fixed assets (approximation) | - | - | - | -€331,457 | -€39,764 | ▲ 88.0% |
| Change in cash | - | €24,320 | -€34,446 | -€13,064 | €3,197 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | micro format | 30-11-2023 | 2023-00519057 | |
| 31-12-2021 | micro format | 10-06-2022 | 2022-20060237 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-29300063 | |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16500341 | |
| 31-12-2018 | micro format | 27-09-2019 | 2019-66400134 | |
| 31-12-2017 | micro format | 27-09-2018 | 2018-66200454 | |
| 31-12-2016 | micro format | 29-09-2017 | 2017-64300271 | |
| 31-12-2015 | abbreviated format | 29-09-2016 | 2016-62800200 | |
| 31-12-2014 | abbreviated format | 30-09-2015 | 2015-62500322 | |
| 31-12-2013 | abbreviated format | 30-09-2014 | 2014-61500294 |