RAW
InactiveFinancials · financial year 2021, micro format
Annual accounts 2021 filed on 28-07-2022 PDF all 6 filings
Turnover
≈ €340,000
Estimated: probably between €230,000 and €530,000
Total assets
€146,611▲ 21.4%
2020 · €120,766
Net result
-€65,714▼ 20.4%
2020 · -€54,591
Working capital
-€176,414▼ 51.1%
2020 · -€116,790
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
-€63,419
▼ 23.3%
2021
20182021
Net result
-€65,714
▼ 20.4%
2021
20182021
Equity
-€130,159
▼ 102%
2021
20182021
Total assets
€146,611
▲ 21.4%
2021
20182021
Debt
€276,770
▲ 49.4%
2021
20182021
Working capital
-€176,414
▼ 51.1%
2021
20182021
Staff (FTE)
6.9
▲ 43.8%
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result-€2,668-€7,183-€51,425-€63,419▼ 23.3%
Net result-€6,100-€763-€54,591-€65,714▼ 20.4%
Equity-€10,616--€9,854▲ 7.2%-€64,445▼ 554%-€130,159▼ 102%
Total assets€118,137-€105,162▼ 11.0%€120,766▲ 14.8%€146,611▲ 21.4%
Debt€128,753-€115,016▼ 10.7%€185,211▲ 61.0%€276,770▲ 49.4%
Working capital-€77,464--€74,480▲ 3.9%-€116,790▼ 56.8%-€176,414▼ 51.1%
Staff (FTE)4.5-4.8▲ 6.7%4.8=6.9▲ 43.8%
The operating result for 2021 is a loss of €63,419, larger than the loss of €51,425 in 2020. It is the lowest result since 2018.
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
2021 in colour, 2020 as the grey bar beneath
Assets €146,611
Fixed assets
€106,637 ▲ 32.6%
Current assets
€39,974 ▼ 0.6%
Equity and liabilities
Equity-€130,159
Debt€276,770
Equity is negative. Debt (€276,770) exceeds the balance-sheet total (€146,611).
Key figures and ratios
EBITDA
-€42,525▼
2020 · -€35,400
Cash flow
-€44,819▼
2020 · -€38,567
Solvency
-88.8%▼
2020 · -53.4%
Current ratio
0.18▼
2020 · 0.26
Quick ratio
0.05▼
2020 · 0.05
ROA
-44.8%▲
2020 · -45.2%
Interest coverage
-11.93
Debt ≤ 1 year
€216,388▲
2020 · €156,985
Debt > 1 year
€59,960▲
2020 · €27,804
Staff costs
€177,345
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.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 11 |
| full-time | 4 |
| part-time | 7 |
| in full-time equivalents | 6.2 |
| Average over the year, in full-time equivalents | 6.4 |
| On a permanent contract | 4 |
| Joined | 17 |
| Left | 14 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €44,864 |
| Financial fixed assets | €2,096 |
| Depreciation and write-downs of the year | €20,894 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €177,345 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,008 | €17,447 | €16,025 | €20,894 | ▲ 30.4% |
| Other operating charges640/8 | - | - | - | €1,923 | - |
| Gross operating margin9900 | €132,490 | €142,196 | €99,275 | €136,743 | ▲ 37.7% |
| Operating profit (loss)9901 | -€2,668 | €7,183 | -€51,425 | -€63,419 | ▼ 23.3% |
| Financial income75/76B | - | - | - | €1,354 | - |
| Recurring financial income75 | - | €8 | €20 | €1,354 | ▲ 67× |
| Financial charges65/66B | - | - | - | €3,649 | - |
| Recurring financial charges65 | €3,432 | €4,993 | €3,187 | €3,565 | ▲ 11.9% |
| Non-recurring financial charges66B | - | - | - | €83 | - |
| Profit (loss) for the period before taxes9903 | -€6,100 | €763 | -€54,591 | -€65,714 | ▼ 20.4% |
| Profit (loss) for the period9904 | -€6,100 | €763 | -€54,591 | -€65,714 | ▼ 20.4% |
| Profit (loss) for the period to be appropriated9905 | -€6,100 | €763 | -€54,591 | -€65,714 | ▼ 20.4% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €118,137 | €105,162 | €120,766 | €146,611 | ▲ 21.4% |
| Formation expenses20 | €791 | €233 | €124 | €0 | ▼ 100% |
| Fixed assets21/28 | €83,692 | €69,513 | €80,447 | €106,637 | ▲ 32.6% |
| Intangible fixed assets21 | €1 | €1 | €1 | €1 | = |
| Tangible fixed assets22/27 | €76,244 | €62,065 | €70,644 | €94,738 | ▲ 34.1% |
| Plant, machinery and equipment23 | - | - | - | €91,781 | - |
| Furniture and vehicles24 | - | - | - | €1,676 | - |
| Other tangible fixed assets26 | - | - | - | €1,281 | - |
| Financial fixed assets28 | €7,447 | €7,447 | €9,802 | €11,898 | ▲ 21.4% |
| Current assets29/58 | €33,654 | €35,417 | €40,195 | €39,974 | ▼ 0.6% |
| Stocks and contracts in progress3 | €31,415 | €31,535 | €32,742 | €30,009 | ▼ 8.3% |
| Stocks30/36 | - | - | - | €30,009 | - |
| Amounts receivable within one year40/41 | - | €1,574 | €4,278 | €2,732 | ▼ 36.1% |
| Trade receivables40 | - | - | - | €2,467 | - |
| Other amounts receivable41 | - | - | - | €265 | - |
| Cash at bank and in hand54/58 | €1,477 | €865 | €1,622 | €6,619 | ▲ 308% |
| Deferred charges and accrued income490/1 | - | - | - | €614 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €118,137 | €105,162 | €120,766 | €146,611 | ▲ 21.4% |
| Equity10/15 | -€10,616 | -€9,854 | -€64,445 | -€130,159 | ▼ 102% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | - |
| Profit (loss) carried forward14 | -€30,616 | -€29,854 | -€84,445 | -€150,159 | ▼ 77.8% |
| Amounts payable17/49 | €128,753 | €115,016 | €185,211 | €276,770 | ▲ 49.4% |
| Amounts payable after more than one year17 | €17,635 | €5,119 | €27,804 | €59,960 | ▲ 116% |
| Financial debts170/4 | - | - | - | €59,960 | - |
| Amounts payable within one year42/48 | €111,118 | €109,897 | €156,985 | €216,388 | ▲ 37.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €32,768 | - |
| Financial debts43 | - | - | - | €0 | - |
| Credit institutions430/8 | - | - | - | €0 | - |
| Trade debts44 | €76,203 | €74,542 | €106,321 | €169,230 | ▲ 59.2% |
| Suppliers440/4 | - | - | - | €169,230 | - |
| Taxes, remuneration and social security45 | - | - | - | €12,394 | - |
| Taxes450/3 | - | - | - | €2,250 | - |
| Remuneration and social security454/9 | - | - | - | €10,144 | - |
| Other amounts payable47/48 | - | - | - | €1,996 | - |
| Accrued charges and deferred income492/3 | - | - | - | €422 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,100 | €763 | -€54,591 | -€65,714 | ▼ 20.4% |
| + Depreciation and write-downs630 | €17,008 | €17,447 | €16,025 | €20,894 | ▲ 30.4% |
| Operating cash flow (approximation) | €10,908 | €18,210 | -€38,567 | -€44,819 | ▼ 16.2% |
| Investment in fixed assets (approximation) | - | -€3,268 | -€26,958 | -€47,085 | ▼ 74.7% |
| Change in cash | - | -€612 | €757 | €4,996 | ▲ 560% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | micro format | 28-07-2022 | 2022-20233861 | |
| 31-12-2020 | micro format | 28-07-2021 | 2021-41300053 | |
| 31-12-2019 | micro format | 24-06-2020 | 2020-20000182 | |
| 31-12-2018 | micro format | 18-07-2019 | 2019-34900413 | |
| 31-12-2017 | abbreviated format | 13-07-2018 | 2018-33000017 | |
| 31-12-2016 | abbreviated format | 25-07-2017 | 2017-35700384 |