R21

Inactive

KBO/BCE: BE 0459.522.949

Inactive; last annual accounts for fiscal year 2013.

Risk analysis Watch Report Compare

R21Inactive

Risk analysis Report Compare

Signals

Two signals. The signal on the left, the evidence on the right.

○neutral

No filing for years

The last filed financial year closed on 31-03-2013. Since then, 12 financial years are missing. This points to a standstill, not an imminent failure.

NBB · 10 filings

Position against the passed deadline

31-03-2014 close31-10-2014 deadline25-09-2026 today

Latest accounts filed on time

The financial year that closed on 31-03-2013 was due by 31-10-2013 and was filed on 08-10-2013, 23 days ahead of the deadline.

NBB · 10 filings

Deviation 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 →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2013, abbreviated schema

Turnover

€121k▼ 52.4%

2011 · €254k

EBIT margin

25.3%▲ 33.8pp

2011 · -8.5%

Net result

€99k▼ 12.1%

2012 · €113k

Working capital

€2.78M▲ 10.7%

2012 · €2.51M

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20092010201120122013

Turnover€224k-€294k▲ 31.5%€254k▼ 13.6%€121k▼ 52.4%

Operating result€24k-€85k▲ 251%€-22k€31k€-4k

Net result€95k-€186k▲ 96.0%€112k▼ 39.7%€113k▲ 0.5%€99k▼ 12.1%

EBIT margin10.8%-28.8%▲ 18.0pp-8.5%▼ 37.4pp25.3%▲ 33.8pp

Equity€2.61M-€2.80M▲ 7.1%€2.91M▲ 4.0%€3.02M▲ 3.9%€3.12M▲ 3.3%

Total assets€2.71M-€2.94M▲ 8.6%€2.92M▼ 0.8%€3.04M▲ 4.1%€3.14M▲ 3.4%

Debt€98k-€145k▲ 49.0%€10k▼ 92.8%€17k▲ 61.3%€21k▲ 24.5%

Working capital€2.24M-€2.45M▲ 9.2%€2.38M▼ 2.7%€2.51M▲ 5.3%€2.78M▲ 10.7%

Staff (FTE)1-1=1=

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2013: a loss of €4k after €31k in 2012.

Balance-sheet composition

2013 in colour, 2012 as the grey bar beneath

Assets €3.14M

11%

89.1%

Fixed assets €344k ▼ 33.0%

Current assets €2.80M ▲ 10.8%

Equity and liabilities €3.14M

99.3%

Equity €3.12M ▲ 3.3%

Debt €21k ▲ 24.5%

Debt's share of the balance-sheet total rises from 0.6% to 0.7%. Equity and debt are higher.

Key figures and ratios

2013 value · change against 2012

EBITDA

€-3k▼

2012 · €33k

Cash flow

€100k▼

2012 · €115k

ROE

3.2%▼

2012 · 3.7%

ROA

3.1%▼

2012 · 3.7%

Debt ≤ 1 year

€21k▲

2012 · €17k

Income taxes

€16k▲

2012 · €15k

A ratio outside any meaningful range has been withheld (balance sheet total €3.14M, equity €3.12M).

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2013 against 2012 · 26 lines

Balance sheet Code20122013

Assets

Total assets20/58€3.04M€3.14M▲

Fixed assets21/28€513k€344k▼

Tangible fixed assets22/27€6k€5k▼

Financial fixed assets28€507k€339k▼

Current assets29/58€2.53M€2.80M▲

Amounts receivable within one year40/41€1.19M€1.35M▲

Current investments50/53€1.16M€1.29M▲

Cash at bank and in hand54/58€179k€160k▼

Equity and liabilities

Total equity and liabilities10/49€3.04M€3.14M▲

Equity10/15€3.02M€3.12M▲

Contributions10/11€62k€62k=

Reserves13€2.46M€2.96M▲

Profit (loss) carried forward14€505k€99k▼

Amounts payable17/49€17k€21k▲

Amounts payable within one year42/48€17k€21k▲

Trade debts44€7k-

Income statement Code20122013

Turnover70€121k-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€1k▼

Gross operating margin9900€42k€-2k▼

Operating profit (loss)9901€31k€-4k▼

Recurring financial income75€97k€121k▲

Recurring financial charges65€5k€6k▲

Profit (loss) for the period before taxes9903€128k€115k▼

Income taxes67/77€15k€16k▲

Profit (loss) for the period9904€113k€99k▼

Profit (loss) for the period to be appropriated9905€113k€99k▼

Line	2009	2010	2011	2012	2013	Change
Turnover70	€224k	€294k	€254k	€121k	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€21k	€21k	€21k	€2k	€1k	▼ 48.1%
Gross operating margin9900	€71k	€147k	€107k	€42k	€-2k	▼ 105%
Operating profit (loss)9901	€24k	€85k	€-22k	€31k	€-4k	▼ 114%
Recurring financial income75	€221k	€143k	€129k	€97k	€121k	▲ 24.8%
Recurring financial charges65	€135k	€3k	€15k	€5k	€6k	▲ 15.9%
Profit (loss) for the period before taxes9903	€130k	€250k	€92k	€128k	€115k	▼ 10.2%
Income taxes67/77	€35k	€64k	€-20k	€15k	€16k	▲ 3.5%
Profit (loss) for the period9904	€95k	€186k	€112k	€113k	€99k	▼ 12.1%
Profit (loss) for the period to be appropriated9905	€95k	€186k	€112k	€113k	€99k	▼ 12.1%

Line	2009	2010	2011	2012	2013	Change
Assets
Total assets20/58	€2.71M	€2.94M	€2.92M	€3.04M	€3.14M	▲ 3.4%
Fixed assets21/28	€369k	€347k	€526k	€513k	€344k	▼ 33.0%
Tangible fixed assets22/27	€60k	€39k	€19k	€6k	€5k	▼ 18.7%
Financial fixed assets28	€309k	€308k	€507k	€507k	€339k	▼ 33.1%
Current assets29/58	€2.34M	€2.60M	€2.39M	€2.53M	€2.80M	▲ 10.8%
Amounts receivable within one year40/41	€1.22M	€1.20M	€970k	€1.19M	€1.35M	▲ 13.6%
Current investments50/53	€819k	€1.03M	€1.23M	€1.16M	€1.29M	▲ 11.1%
Cash at bank and in hand54/58	€304k	€350k	€193k	€179k	€160k	▼ 10.5%
Equity and liabilities
Total equity and liabilities10/49	€2.71M	€2.94M	€2.92M	€3.04M	€3.14M	▲ 3.4%
Equity10/15	€2.61M	€2.80M	€2.91M	€3.02M	€3.12M	▲ 3.3%
Contributions10/11	€62k	€62k	€62k	€62k	€62k	=
Reserves13	€2.46M	€2.46M	€2.46M	€2.46M	€2.96M	▲ 20.6%
Profit (loss) carried forward14	€95k	€280k	€392k	€505k	€99k	▼ 80.4%
Amounts payable17/49	€98k	€145k	€10k	€17k	€21k	▲ 24.5%
Amounts payable within one year42/48	€98k	€145k	€10k	€17k	€21k	▲ 24.5%
Trade debts44	€51k	€29k	€3k	€7k	-	-

Line	2009	2010	2011	2012	2013	Change
Profit (loss) for the period9904	€95k	€186k	€112k	€113k	€99k	▼ 12.1%
+ Depreciation and write-downs630	€21k	€21k	€21k	€2k	€1k	▼ 48.1%
Operating cash flow (approximation)	€116k	€206k	€133k	€115k	€100k	▼ 12.7%
Investment in fixed assets (approximation)	-	€951	€-200k	€11k	€168k	▲ 1,392%
Change in cash	-	€46k	€-157k	€-13k	€-19k	▼ 39.2%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

All 14Financial 2Gazette 2Filings 10

2013

08-10

NBB filing Annual accounts filed

fiscal year 2013 · abbreviated schema

2012

25-11

NBB filing Annual accounts filed

fiscal year 2012 · abbreviated schema · 25 days late

2011

16-10

NBB filing Annual accounts filed

fiscal year 2011 · abbreviated schema

31-03

Financial Liquidity times 13current ratio 230.32

Current ratio from 17.87 to 230.32; short-term debt falls from €145k to €10k.

2010

01-11

NBB filing Annual accounts filed

fiscal year 2010 · abbreviated schema · 1 day late

21-04

State Gazette act General meeting · Warrant cancellation

Capital increase · Capital · Frank Liesse

31-03

Financial Highest result since 2009net €186k ▲96%

Operating result €85k, net result €186k, both a record.

2009

21-10

NBB filing Annual accounts filed

fiscal year 2009 · abbreviated schema

29-05

State Gazette act Capital increase · Director resignation

Permanent representative · Director appointment

2008

29-09

NBB filing Annual accounts filed

fiscal year 2008 · abbreviated schema

2007

24-09

NBB filing Annual accounts filed

fiscal year 2007 · abbreviated schema

2006

28-09

NBB filing Annual accounts filed

fiscal year 2006 · abbreviated schema

2005

29-09

NBB filing Annual accounts filed

fiscal year 2005 · abbreviated schema

2004

30-09

NBB filing Annual accounts filed

fiscal year 2004 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 6 acts read

About the unread acts

We know of 6 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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