RE CYCLE
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 24-06-2024, 37 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2023
37 d early
2022
33 d early
2021
30 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-350k▼ 99.7%
2022 · €-175k
2021: €-93khighest in 3 years
2022: €-175k▼ -88.0% vs 2021
2023: €-350k▼ -99.7% vs 2022lowest in 3 years
2021 → 2023
Working capital
€-581k▼ 161%
2022 · €-223k
2021: €16khighest in 3 years
2022: €-223k▼ -1492% vs 2021
2023: €-581k▼ -161% vs 2022lowest in 3 years
2021 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222023Trend
Equity€2k-€-174k€-524k▼ 202%
2021: €2khighest in 3 years
2022: €-174k▼ -10549% vs 2021
2023: €-524k▼ -202% vs 2022lowest in 3 years
Operating result€-90k-€-165k▼ 83.3%€-320k▼ 94.0%
2021: €-90khighest in 3 years
2022: €-165k▼ -83.3% vs 2021
2023: €-320k▼ -94.0% vs 2022lowest in 3 years
Net result€-93k-€-175k▼ 88.0%€-350k▼ 99.7%
2021: €-93khighest in 3 years
2022: €-175k▼ -88.0% vs 2021
2023: €-350k▼ -99.7% vs 2022lowest in 3 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €320k in 2023 against €165k in 2022; the loss grows and 2023 has the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €562k
Fixed assets
€62k ▲ 24.8%
Current assets
€501k ▲ 219%
Key figures and ratios
EBITDA
€-311k▼
2022 · €-158k
Cash flow
€-341k▼
2022 · €-168k
Solvency
-93.3%▼
2022 · -84.2%
Current ratio
0.46▲
2022 · 0.41
Quick ratio
0.02▼
2022 · 0.06
Debt to equity
-2.07▲
2022 · -2.19
ROA
-62.3%▲
2022 · -85.0%
Interest coverage
-9.68▲
2022 · -15.24
Debt
€1.09M▲
2022 · €380k
Debt ≤ 1 year
€1.08M▲
2022 · €380k
Staff costs
€73k▲
2022 · €73k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2023 against 2022 · 50 lines
Balance sheet
Code20222023
Assets
Total assets20/58€206k€562k▲
Fixed assets21/28€49k€62k▲
Intangible fixed assets21€1k€890▼
Tangible fixed assets22/27€48k€61k▲
Plant, machinery and equipment23€7k€6k▼
Furniture and vehicles24€8k€9k▲
Other tangible fixed assets26€33k€45k▲
Current assets29/58€157k€501k▲
Stocks and contracts in progress3€135k€478k▲
Stocks30/36€135k€478k▲
Amounts receivable within one year40/41€13k€19k▲
Trade receivables40€7k€19k▲
Other amounts receivable41€6k€0▼
Cash at bank and in hand54/58€2k€2k▼
Deferred charges and accrued income490/1€8k€2k▼
Equity and liabilities
Total equity and liabilities10/49€206k€562k▲
Equity10/15€-174k€-524k▼
Contributions10/11€95k€95k=
Profit (loss) carried forward14€-269k€-619k▼
Amounts payable17/49€380k€1.09M▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€380k€1.08M▲
Current portion of amounts payable after more than one year42€0-
Financial debts43€273k€964k▲
Credit institutions430/8€273k€964k▲
Trade debts44€85k€103k▲
Suppliers440/4€85k€103k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€22k€7k▼
Taxes450/3€1k€0▼
Remuneration and social security454/9€21k€7k▼
Other amounts payable47/48-€8k
Accrued charges and deferred income492/3€0€4k▲
Income statement
Code20222023
Remuneration, social security and pensions62€73k€73k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€9k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€73k
Other operating charges640/8€1k€9k▲
Gross operating margin9900€-84k€-156k▼
Operating profit (loss)9901€-165k€-320k▼
Financial income75/76B€82€2k▲
Recurring financial income75€82€2k▲
Financial charges65/66B€10k€32k▲
Recurring financial charges65€10k€32k▲
Profit (loss) for the period before taxes9903€-175k€-350k▼
Profit (loss) for the period9904€-175k€-350k▼
Profit (loss) for the period to be appropriated9905€-175k€-350k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-269k€-619k▼
Profit (loss) brought forward from the previous period14P€-93k€-269k▼
Social balance
Average headcount (FTE)90872.22.3▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €43k | €73k | €73k | ▲ 0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €8k | €9k | ▲ 22.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €73k | - |
| Other operating charges640/8 | €3k | €1k | €9k | ▲ 750% |
| Gross operating margin9900 | €-40k | €-84k | €-156k | ▼ 86.3% |
| Operating profit (loss)9901 | €-90k | €-165k | €-320k | ▼ 94.0% |
| Financial income75/76B | €106 | €82 | €2k | ▲ 2,584% |
| Recurring financial income75 | €106 | €82 | €2k | ▲ 2,584% |
| Financial charges65/66B | €3k | €10k | €32k | ▲ 211% |
| Recurring financial charges65 | €3k | €10k | €32k | ▲ 211% |
| Profit (loss) for the period before taxes9903 | €-93k | €-175k | €-350k | ▼ 99.7% |
| Profit (loss) for the period9904 | €-93k | €-175k | €-350k | ▼ 99.7% |
| Profit (loss) for the period to be appropriated9905 | €-93k | €-175k | €-350k | ▼ 99.7% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €141k | €206k | €562k | ▲ 172% |
| Fixed assets21/28 | €57k | €49k | €62k | ▲ 24.8% |
| Intangible fixed assets21 | €2k | €1k | €890 | ▼ 30.1% |
| Tangible fixed assets22/27 | €55k | €48k | €61k | ▲ 26.3% |
| Plant, machinery and equipment23 | €8k | €7k | €6k | ▼ 11.5% |
| Furniture and vehicles24 | €10k | €8k | €9k | ▲ 6.4% |
| Other tangible fixed assets26 | €37k | €33k | €45k | ▲ 39.6% |
| Current assets29/58 | €84k | €157k | €501k | ▲ 219% |
| Stocks and contracts in progress3 | €30k | €135k | €478k | ▲ 255% |
| Stocks30/36 | €30k | €135k | €478k | ▲ 255% |
| Amounts receivable within one year40/41 | €4k | €13k | €19k | ▲ 51.3% |
| Trade receivables40 | €4k | €7k | €19k | ▲ 186% |
| Other amounts receivable41 | - | €6k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €47k | €2k | €2k | ▼ 5.5% |
| Deferred charges and accrued income490/1 | €2k | €8k | €2k | ▼ 78.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €141k | €206k | €562k | ▲ 172% |
| Equity10/15 | €2k | €-174k | €-524k | ▼ 202% |
| Contributions10/11 | €95k | €95k | €95k | = |
| Profit (loss) carried forward14 | €-93k | €-269k | €-619k | ▼ 130% |
| Amounts payable17/49 | €139k | €380k | €1.09M | ▲ 186% |
| Amounts payable after more than one year17 | €67k | €0 | - | - |
| Financial debts170/4 | €67k | €0 | - | - |
| Amounts payable within one year42/48 | €68k | €380k | €1.08M | ▲ 185% |
| Current portion of amounts payable after more than one year42 | €19k | €0 | - | - |
| Financial debts43 | - | €273k | €964k | ▲ 254% |
| Credit institutions430/8 | - | €273k | €964k | ▲ 254% |
| Trade debts44 | €22k | €85k | €103k | ▲ 21.0% |
| Suppliers440/4 | €22k | €85k | €103k | ▲ 21.0% |
| Advances received on contracts in progress46 | €11k | €0 | - | - |
| Taxes, remuneration and social security45 | €12k | €22k | €7k | ▼ 70.2% |
| Taxes450/3 | €2k | €1k | €0 | ▼ 100% |
| Remuneration and social security454/9 | €10k | €21k | €7k | ▼ 68.5% |
| Other amounts payable47/48 | €4k | - | €8k | - |
| Accrued charges and deferred income492/3 | €5k | €0 | €4k | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-93k | €-175k | €-350k | ▼ 99.7% |
| + Depreciation and write-downs630 | €4k | €8k | €9k | ▲ 22.7% |
| Operating cash flow (approximation) | €-89k | €-168k | €-341k | ▼ 103% |
| Investment in fixed assets (approximation) | - | €0 | €-22k | - |
| Change in cash | - | €-45k | €-118 | ▲ 99.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
19-02
State Gazette act
General meeting · Merger
Accounting effect · Bank account
2023
31-12
Financial
Weakest financial yearnet €-350k
Net result drops to €-350k, the lowest in the series.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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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Structure & network
Acquisitions and mergers
1 transactionTaken over by:Goodbikes