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Open bankruptcyFinancials · financial year 2023, full format
2023 annual accounts filed late (68 days) Filed on 7 October 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00500284.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€440▲ 99.5%
2022 · -€94,859
Working capital
-€72,516▲ 2.2%
2022 · -€74,131
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result recovers in 2023; 2023 is 254% above 2022.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€25,541
2023
Net result-€440
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€739,614
2023
Equity-€41,366
2023
Debt€770,981
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€72,516
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)69.4
2023
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€14,378-€44,806▲ 212%€18,699▼ 58.3%€62,764▲ 236%€7,216▼ 88.5%€25,541▲ 254%
Net result€436-€19,852▲ 4,448%€7,343▼ 63.0%€7,108▼ 3.2%-€94,859-€440▲ 99.5%
Equity€19,631-€39,482▲ 101%€46,825▲ 18.6%€53,933▲ 15.2%-€40,926-€41,366▼ 1.1%
Total assets€480,431-€606,845▲ 26.3%€701,189▲ 15.5%€716,399▲ 2.2%€772,382▲ 7.8%€739,614▼ 4.2%
Debt€450,800-€557,363▲ 23.6%€644,364▲ 15.6%€652,466▲ 1.3%€803,308▲ 23.1%€770,981▼ 4.0%
Working capital-€20,983--€29,941▼ 42.7%€5,475€28,752▲ 425%-€74,131-€72,516▲ 2.2%
Staff (FTE)72.4-77.8▲ 7.5%78▲ 0.3%75.8▼ 2.8%70.1▼ 7.5%69.4▼ 1.0%
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €739,614
Fixed assets
€94,056 ▼ 10.1%
Current assets
€645,558 ▼ 3.3%
Equity and liabilities
Equity-€41,366
Debt€770,981
Equity is negative: debt (€770,981) exceeds the balance-sheet total (€739,614).
Key figures and ratios
EBITDA
€40,751▲
2022 · €22,366
Cash flow
€14,770▲
2022 · -€79,709
Solvency
-5.6%▼
2022 · -5.3%
Current ratio
0.90▼
2022 · 0.90
ROA
-0.1%▲
2022 · -12.3%
Interest coverage
0.97▲
2022 · 0.19
Debt ≤ 1 year
€718,075▼
2022 · €741,930
Debt > 1 year
€52,906▼
2022 · €61,378
Income taxes
€530▼
2022 · €696
Staff costs
€2.0m▲
2022 · €2.0m
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.009m | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2.0m | €2.0m | €2.0m | ▲ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 0.4% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €0.002m | ▲ 15.0% |
| Gross operating margin9900 | €2.1m | €2.3m | €1.8m | €2.1m | €2.0m | €2.1m | ▲ 3.4% |
| Operating profit (loss)9901 | €0.01m | €0.04m | €0.02m | €0.06m | €0.007m | €0.03m | ▲ 254% |
| Financial income75/76B | - | - | - | €0.01m | €0.02m | €0.02m | ▼ 6.1% |
| Recurring financial income75 | €0.002m | €0.005m | €0.01m | €0.01m | €0.02m | €0.02m | ▼ 6.1% |
| Financial charges65/66B | - | - | - | €0.05m | €0.1m | €0.04m | ▼ 64.7% |
| Recurring financial charges65 | €0.006m | €0.01m | €0.005m | €0.03m | €0.1m | €0.04m | ▼ 64.7% |
| Non-recurring financial charges66B | - | - | - | €0.03m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.01m | €0.04m | €0.03m | €0.02m | -€0.09m | €90 | - |
| Income taxes67/77 | €0.01m | €0.02m | €0.02m | €0.01m | €0.001m | €0.001m | ▼ 23.8% |
| Profit (loss) for the period9904 | €436 | €0.02m | €0.007m | €0.007m | -€0.09m | -€440 | ▲ 99.5% |
| Profit (loss) for the period to be appropriated9905 | €436 | €0.02m | €0.007m | €0.007m | -€0.09m | -€440 | ▲ 99.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €480,431 | €606,845 | €701,189 | €716,399 | €772,382 | €739,614 | ▼ 4.2% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €139,498 | €204,259 | €156,240 | €116,611 | €104,582 | €94,056 | ▼ 10.1% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €108,498 | €104,259 | €106,240 | €91,611 | €79,582 | €69,056 | ▼ 13.2% |
| Land and buildings22 | - | - | - | €71,438 | €63,316 | €55,116 | ▼ 13.0% |
| Plant, machinery and equipment23 | - | - | - | €10,071 | €7,524 | €4,241 | ▼ 43.6% |
| Furniture and vehicles24 | - | - | - | €1,608 | €1,751 | €4,212 | ▲ 141% |
| Other tangible fixed assets26 | - | - | - | €8,493 | €6,990 | €5,487 | ▼ 21.5% |
| Financial fixed assets28 | €31,000 | €100,000 | €50,000 | €25,000 | €25,000 | €25,000 | = |
| Current assets29/58 | €340,932 | €402,587 | €544,949 | €599,788 | €667,800 | €645,558 | ▼ 3.3% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €3,147 | - |
| Trade receivables290 | - | - | - | - | - | €3,147 | - |
| Amounts receivable within one year40/41 | €79,336 | €156,460 | €202,618 | €284,685 | €317,588 | €342,980 | ▲ 8.0% |
| Trade receivables40 | - | - | - | €0 | - | - | - |
| Other amounts receivable41 | - | - | - | €284,685 | €317,588 | €342,980 | ▲ 8.0% |
| Cash at bank and in hand54/58 | €94,360 | €124,077 | €178,244 | €80,551 | €122,822 | €81,164 | ▼ 33.9% |
| Deferred charges and accrued income490/1 | - | - | - | €234,552 | €227,390 | €218,268 | ▼ 4.0% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €480,431 | €606,845 | €701,189 | €716,399 | €772,382 | €739,614 | ▼ 4.2% |
| Equity10/15 | €19,631 | €39,482 | €46,825 | €53,933 | -€40,926 | -€41,366 | ▼ 1.1% |
| Contributions10/11 | €18,600 | €18,600 | €0 | €18,600 | €18,600 | €20,460 | ▲ 10.0% |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | - | - |
| Other1109/19 | - | - | - | €18,600 | €18,600 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€829 | €19,022 | €26,365 | €33,473 | -€61,386 | -€61,826 | ▼ 0.7% |
| Provisions and deferred taxes16 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €10,000 | €10,000 | €10,000 | = |
| Major repairs and maintenance162 | - | - | - | €10,000 | €10,000 | €10,000 | = |
| Amounts payable17/49 | €450,800 | €557,363 | €644,364 | €652,466 | €803,308 | €770,981 | ▼ 4.0% |
| Amounts payable after more than one year17 | €88,885 | €124,835 | €104,890 | €80,619 | €61,378 | €52,906 | ▼ 13.8% |
| Financial debts170/4 | - | - | - | €80,619 | €61,378 | €52,906 | ▼ 13.8% |
| Amounts payable within one year42/48 | €361,915 | €432,528 | €539,474 | €571,036 | €741,930 | €718,075 | ▼ 3.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €24,271 | €19,241 | €65,358 | ▲ 240% |
| Trade debts44 | €0 | €24,153 | €21,166 | €27,136 | €38,315 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €27,136 | €38,315 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €519,629 | €684,374 | €652,717 | ▼ 4.6% |
| Taxes450/3 | - | - | - | €38,132 | €21,690 | €4,899 | ▼ 77.4% |
| Remuneration and social security454/9 | - | - | - | €481,497 | €662,684 | €647,818 | ▼ 2.2% |
| Other amounts payable47/48 | - | - | - | €0 | - | €0 | - |
| Accrued charges and deferred income492/3 | - | - | - | €810 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €436 | €19,852 | €7,343 | €7,108 | -€94,859 | -€440 | ▲ 99.5% |
| + Depreciation and write-downs630 | €24,020 | €21,162 | €20,899 | €17,063 | €15,151 | €15,210 | ▲ 0.4% |
| Operating cash flow (approximation) | €24,456 | €41,013 | €28,241 | €24,171 | -€79,709 | €14,770 | - |
| Investment in fixed assets (approximation) | - | -€85,922 | €27,120 | €22,566 | -€3,122 | -€4,684 | ▼ 50.0% |
| Change in cash | - | €29,717 | €54,167 | -€97,693 | €42,271 | -€41,658 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.