ROUND 3D
Open bankruptcyFinancials · financial year 2022, micro format
2022 annual accounts filed 3 days after the deadline Filed on 3 August 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00310361.
Annual accounts 2022 filed on 03-08-2023 PDF all 3 filings
Turnover
≈ €580,000
Estimated: probably between €390,000 and €900,000
Total assets
€948,515▲ 232%
2021 · €285,513
Net result
€8,769▲ 22.6%
2021 · €7,154
Working capital
-€22,148▲ 78.3%
2021 · -€102,239
Multi-year overview
2020 to 2022, 3 financial yearsOperating result
€14,668
▲ 10.2%
2022
20202022
Net result
€8,769
▲ 22.6%
2022
middle half of the sector
20202022
Equity
€348,465
▲ 14×
2022
highest quarter of the sector
20202022
Total assets
€948,515
▲ 232%
2022
highest quarter of the sector
20202022
Debt
€600,051
▲ 130%
2022
20202022
Working capital
-€22,148
▲ 78.3%
2022
middle half of the sector
20202022
Solvency
36.7%
▲ 28.2pp
2022
middle half of the sector
20202022
Current ratio
0.94
▲ 0.37
2022
middle half of the sector
20202022
Return on assets (ROA)
0.9%
▼ 1.6pp
2022
middle half of the sector
20202022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022
Operating result€2,645-€13,309▲ 403%€14,668▲ 10.2%
Net result€2,240within the sector's middle half-€7,154within the sector's middle half▲ 219%€8,769within the sector's middle half▲ 22.6%
Equity€17,240within the sector's middle half-€24,393within the sector's middle half▲ 41.5%€348,465above the sector's middle half▲ 14×
Total assets€115,067within the sector's middle half-€285,513within the sector's middle half▲ 148%€948,515above the sector's middle half▲ 232%
Debt€97,827-€261,120▲ 167%€600,051▲ 130%
Working capital€6,172within the sector's middle half--€102,239below the sector's middle half-€22,148within the sector's middle half▲ 78.3%
Solvency15.0%within the sector's middle half-8.5%within the sector's middle half▼ 6.4pp36.7%within the sector's middle half▲ 28.2pp
Current ratio1.07within the sector's middle half-0.57below the sector's middle half▼ 0.500.94within the sector's middle half▲ 0.37
Return on assets (ROA)1.9%within the sector's middle half-2.5%within the sector's middle half▲ 0.6pp0.9%within the sector's middle half▼ 1.6pp
above
within
below
The sector band is the middle half of the companies in Manufacture of chemicals and chemical products (NACE 20). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2022 is 10% higher than in 2021 and the highest since 2020. It is the second rise in a row.
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
2022 in colour, 2021 as the grey bar beneath
Assets €948,515
Fixed assets
€586,827 ▲ 290%
Current assets
€361,689 ▲ 168%
Equity and liabilities €948,515
Equity
€348,465 ▲ 14×
Debt
€600,051 ▲ 130%
Debt's share of the balance-sheet total falls from 91.5% to 63.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46,407▲
2021 · €20,054
Cash flow
€40,509▲
2021 · €13,899
Quick ratio
0.36▲
2021 · 0.20
Debt to equity
1.72▼
2021 · 10.70
ROE
2.5%▼
2021 · 29.3%
Interest coverage
8.44▲
2021 · 3.39
Debt ≤ 1 year
€383,837▲
2021 · €237,438
Debt > 1 year
€216,214▲
2021 · €21,682
Income taxes
€401▲
2021 · €235
Staff costs
€185,883▲
2021 · €41,463
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | €134,502 | €211,148 |
| Financial fixed assets | €1,200 | - |
| Depreciation and write-downs of the year | €6,745 | €31,739 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €41,463 | €185,883 | ▲ 348% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,373 | €6,745 | €31,739 | ▲ 371% |
| Other operating charges640/8 | - | €981 | €201 | ▼ 79.5% |
| Gross operating margin9900 | €11,850 | €62,498 | €232,491 | ▲ 272% |
| Operating profit (loss)9901 | €2,645 | €13,309 | €14,668 | ▲ 10.2% |
| Financial income75/76B | - | - | €0 | - |
| Recurring financial income75 | €65 | - | €0 | - |
| Financial charges65/66B | - | €5,920 | €5,497 | ▼ 7.1% |
| Recurring financial charges65 | €351 | €5,920 | €5,497 | ▼ 7.1% |
| Profit (loss) for the period before taxes9903 | €2,358 | €7,389 | €9,171 | ▲ 24.1% |
| Income taxes67/77 | €119 | €235 | €401 | ▲ 70.9% |
| Profit (loss) for the period9904 | €2,240 | €7,154 | €8,769 | ▲ 22.6% |
| Profit (loss) for the period to be appropriated9905 | €2,240 | €7,154 | €8,769 | ▲ 22.6% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €115,067 | €285,513 | €948,515 | ▲ 232% |
| Fixed assets21/28 | €21,358 | €150,314 | €586,827 | ▲ 290% |
| Tangible fixed assets22/27 | €21,358 | €149,114 | €585,627 | ▲ 293% |
| Plant, machinery and equipment23 | - | €81,193 | €356,721 | ▲ 339% |
| Furniture and vehicles24 | - | €48,974 | €41,701 | ▼ 14.8% |
| Leasing and similar rights25 | - | - | €167,081 | - |
| Other tangible fixed assets26 | - | €18,947 | €20,123 | ▲ 6.2% |
| Financial fixed assets28 | - | €1,200 | €1,200 | = |
| Current assets29/58 | €93,709 | €135,199 | €361,689 | ▲ 168% |
| Stocks and contracts in progress3 | €24,837 | €87,748 | €225,364 | ▲ 157% |
| Stocks30/36 | - | €87,748 | €225,364 | ▲ 157% |
| Amounts receivable within one year40/41 | €11,563 | €36,132 | €74,410 | ▲ 106% |
| Trade receivables40 | - | €29,459 | €63,502 | ▲ 116% |
| Other amounts receivable41 | - | €6,673 | €10,908 | ▲ 63.5% |
| Cash at bank and in hand54/58 | €57,309 | €11,319 | €34,715 | ▲ 207% |
| Deferred charges and accrued income490/1 | - | - | €27,200 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €115,067 | €285,513 | €948,515 | ▲ 232% |
| Equity10/15 | €17,240 | €24,393 | €348,465 | ▲ 14× |
| Contributions10/11 | - | €15,000 | €74,000 | ▲ 393% |
| Revaluation surpluses12 | - | - | €256,232 | - |
| Reserves13 | - | - | €70 | - |
| Distributable reserves133 | - | - | €70 | - |
| Profit (loss) carried forward14 | €2,240 | €9,393 | €18,163 | ▲ 93.4% |
| Amounts payable17/49 | €97,827 | €261,120 | €600,051 | ▲ 130% |
| Amounts payable after more than one year17 | €10,290 | €21,682 | €216,214 | ▲ 897% |
| Financial debts170/4 | - | €21,682 | €216,214 | ▲ 897% |
| Amounts payable within one year42/48 | €87,537 | €237,438 | €383,837 | ▲ 61.7% |
| Current portion of amounts payable after more than one year42 | - | €18,458 | €129,943 | ▲ 604% |
| Financial debts43 | - | - | €100,749 | - |
| Credit institutions430/8 | - | - | €100,749 | - |
| Trade debts44 | €16,381 | €161,261 | €106,742 | ▼ 33.8% |
| Suppliers440/4 | - | €161,261 | €106,742 | ▼ 33.8% |
| Taxes, remuneration and social security45 | - | €47,719 | €32,103 | ▼ 32.7% |
| Taxes450/3 | - | €42,324 | €21,314 | ▼ 49.6% |
| Remuneration and social security454/9 | - | €5,395 | €10,789 | ▲ 100.0% |
| Other amounts payable47/48 | - | €10,000 | €14,300 | ▲ 43.0% |
| Accrued charges and deferred income492/3 | - | €2,000 | - | - |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,240 | €7,154 | €8,769 | ▲ 22.6% |
| + Depreciation and write-downs630 | €2,373 | €6,745 | €31,739 | ▲ 371% |
| Operating cash flow (approximation) | €4,613 | €13,899 | €40,509 | ▲ 191% |
| Investment in fixed assets (approximation) | - | -€135,702 | -€468,252 | ▼ 245% |
| Change in cash | - | -€45,990 | €23,396 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.