Q-PERFORMANCE
Bankruptcy closedFinancials · financial year 2021, micro format
2021 annual accounts filed 361 days after the deadline Filed on 27 January 2023, deadline 31 January 2022 (7 months after the close on 30 June 2021, Companies Code art. 3:10). Source: NBB, 2023-00022939.
Annual accounts 2021 filed on 27-01-2023 PDF all 19 filings
Equity
-€31,100▼ 61.7%
2020 · -€19,229
Total assets
€46,369▲ 112×
2020 · €414
Net result
-€11,871▼ 3,755%
2020 · -€308
Working capital
-€66,766▼ 247%
2020 · -€19,229
Multi-year overview
2019 to 2021, 3 financial yearsOperating result
-€11,490
▼ 5,434%
2021
20192021
Net result
-€11,871
▼ 3,755%
2021
20192021
Equity
-€31,100
▼ 61.7%
2021
20192021
Total assets
€46,369
▲ 112×
2021
20192021
Debt
€77,470
▲ 294%
2021
20192021
Working capital
-€66,766
▼ 247%
2021
20192021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021
Operating result-€6,056--€208▲ 96.6%-€11,490▼ 5,434%
Net result-€6,199--€308▲ 95.0%-€11,871▼ 3,755%
Equity-€18,921--€19,229▼ 1.6%-€31,100▼ 61.7%
Total assets€47,250-€414▼ 99.1%€46,369▲ 112×
Debt€66,171-€19,644▼ 70.3%€77,470▲ 294%
Working capital-€13,063--€19,229▼ 47.2%-€66,766▼ 247%
The operating result for 2021 is a loss of €11,490, larger than the loss of €208 in 2020. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
Assets €46,369
Fixed assets
€35,666
Current assets
€10,704
Equity and liabilities
Equity-€31,100
Debt€77,470
Equity is negative. Debt (€77,470) exceeds the balance-sheet total (€46,369).
Key figures and ratios
EBITDA
-€5,156
Cash flow
-€5,537
Solvency
-67.1%
Current ratio
0.14
ROA
-25.6%
Interest coverage
-11.69
Debt ≤ 1 year
€77,470▲
2020 · €19,644
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2021 |
|---|---|
| Tangible fixed assets | €42,000 |
| Depreciation and write-downs of the year | €6,334 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €6,334 | - |
| Other operating charges640/8 | - | - | €149 | - |
| Gross operating margin9900 | -€5,454 | -€110 | -€5,007 | ▼ 4,468% |
| Operating profit (loss)9901 | -€6,056 | -€208 | -€11,490 | ▼ 5,434% |
| Financial income75/76B | - | - | €60 | - |
| Recurring financial income75 | - | - | €60 | - |
| Financial charges65/66B | - | - | €441 | - |
| Recurring financial charges65 | €143 | €100 | €441 | ▲ 340% |
| Profit (loss) for the period before taxes9903 | -€6,199 | -€308 | -€11,871 | ▼ 3,755% |
| Profit (loss) for the period9904 | -€6,199 | -€308 | -€11,871 | ▼ 3,755% |
| Profit (loss) for the period to be appropriated9905 | -€6,199 | -€308 | -€11,871 | ▼ 3,755% |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €47,250 | €414 | €46,369 | ▲ 112× |
| Fixed assets21/28 | - | - | €35,666 | - |
| Tangible fixed assets22/27 | - | - | €35,666 | - |
| Furniture and vehicles24 | - | - | €35,666 | - |
| Current assets29/58 | €47,250 | €414 | €10,704 | ▲ 26× |
| Amounts receivable within one year40/41 | €47,214 | €310 | €9,660 | ▲ 31× |
| Other amounts receivable41 | - | - | €9,660 | - |
| Cash at bank and in hand54/58 | €36 | €59 | €561 | ▲ 856% |
| Deferred charges and accrued income490/1 | - | - | €483 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €47,250 | €414 | €46,369 | ▲ 112× |
| Equity10/15 | -€18,921 | -€19,229 | -€31,100 | ▼ 61.7% |
| Contributions10/11 | €18,600 | - | €18,600 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | €1,860 | - |
| Profit (loss) carried forward14 | -€39,381 | -€39,689 | -€51,560 | ▼ 29.9% |
| Amounts payable17/49 | €66,171 | €19,644 | €77,470 | ▲ 294% |
| Amounts payable within one year42/48 | €60,313 | €19,644 | €77,470 | ▲ 294% |
| Trade debts44 | €59,380 | €9,002 | €7,973 | ▼ 11.4% |
| Suppliers440/4 | - | - | €7,973 | - |
| Other amounts payable47/48 | - | - | €69,497 | - |
| Line | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,199 | -€308 | -€11,871 | ▼ 3,755% |
| + Depreciation and write-downs630 | - | - | €6,334 | - |
| Operating cash flow (approximation) | -€6,199 | -€308 | -€5,537 | ▼ 1,698% |
| Change in cash | - | €23 | €503 | ▲ 22× |
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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2021 | micro format | 27-01-2023 | 2023-00022939 | |
| 30-06-2020 | micro format | 23-02-2021 | 2021-05900240 | |
| 30-06-2019 | micro format | 25-03-2020 | 2020-07500064 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-04100319 | |
| 30-06-2017 | micro format | 31-01-2018 | 2018-04000085 | |
| 30-06-2016 | abbreviated format | 31-01-2017 | 2017-03700130 | |
| 30-06-2015 | abbreviated format | 15-01-2016 | 2016-01800104 | |
| 30-06-2014 | abbreviated format | 21-01-2015 | 2015-02200156 | |
| 30-06-2013 | abbreviated format | 20-02-2014 | 2014-04500439 | |
| 30-06-2012 | abbreviated format | 15-02-2013 | 2013-03800420 |