SARO
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts not filed
The financial year that closed on 31-03-2024 was due at the National Bank by 31-10-2024. Nothing is on record, 694 days later.
NBB · 10 filingsPosition against the passed deadline
31-03-2024 close31-10-2024 deadline25-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2023 was due by 31-10-2023 and was filed on 25-09-2023, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2024
not filed
2023
36 d early
2022
27 d early
2020
22 d late
2019
18 d early
2018
4 d late
2017
24 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, full schema
Turnover
€300k▼ 42.0%
2022 · €517k
2022: €517k
2023: €300k▼ -42.0% vs 2022
2022 → 2023
EBIT margin
29.4%▼ 264.4pp
2022 · 293.8%
2022: 293.8%
2023: 29.4%▼ -90.0% vs 2022
2022 → 2023
Net result
€32k▼ 96.9%
2022 · €1.04M
2019: €219k
2020: €708k▲ +224% vs 2019
2022: €1.04Mhighest value
2023: €32k▼ -96.9% vs 2022lowest value
2019 → 2023
Working capital
€3.34M▲ 1.9%
2022 · €3.28M
2019: €1.83M
2020: €1.65M▼ -9.9% vs 2019lowest value
2022: €3.28M
2023: €3.34M▲ +1.9% vs 2022highest value
2019 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2019202020222023Trend
Turnover€517k€300k▼ 42.0%
2022: €517k
2023: €300k▼ -42.0% vs 2022
Equity€2.35M-€2.26M▼ 3.9%€3.31M▲ 46.5%€3.34M▲ 1.0%
2019: €2.35M
2020: €2.26M▼ -3.9% vs 2019lowest value
2022: €3.31M
2023: €3.34M▲ +1.0% vs 2022highest value
Operating result€452k-€1.09M▲ 141%€1.52M▲ 39.7%€88k▼ 94.2%
2019: €452k
2020: €1.09M▲ +141% vs 2019
2022: €1.52Mhighest value
2023: €88k▼ -94.2% vs 2022lowest value
Net result€219k-€708k▲ 224%€1.04M▲ 47.5%€32k▼ 96.9%
2019: €219k
2020: €708k▲ +224% vs 2019
2022: €1.04Mhighest value
2023: €32k▼ -96.9% vs 2022lowest value
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 94% below 2022 and is the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €5.17M
Fixed assets
€1.67M ▼ 9.8%
Current assets
€3.50M ▲ 1.3%
Equity and liabilities €5.17M
Equity
€3.34M ▲ 1.0%
Provisions
€69k ▼ 10.3%
Debt
€1.76M ▼ 8.3%
Debt's share of the balance-sheet total falls from 36.2% to 34.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€268k▼
2022 · €1.93M
Cash flow
€212k▼
2022 · €1.45M
Current ratio
21.52▲
2022 · 19.22
Debt to equity
0.53▼
2022 · 0.58
ROE
1.0%▼
2022 · 31.5%
ROA
0.6%▼
2022 · 19.7%
Interest coverage
3.79▼
2022 · 13.30
Debt ≤ 1 year
€163k▼
2022 · €180k
Debt > 1 year
€1.59M▼
2022 · €1.74M
Income taxes
€19k▼
2022 · €359k
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 · 63 lines
Balance sheet
Code20222023
Assets
Total assets20/58€5.30M€5.17M▼
Fixed assets21/28€1.85M€1.67M▼
Tangible fixed assets22/27€1.85M€1.67M▼
Land and buildings22€172k€172k=
Leasing and similar rights25€1.60M€1.43M▼
Other tangible fixed assets26€76k€60k▼
Current assets29/58€3.46M€3.50M▲
Amounts receivable within one year40/41€195k€182k▼
Trade receivables40€49k€54k▲
Other amounts receivable41€146k€128k▼
Cash at bank and in hand54/58€3.26M€3.32M▲
Equity and liabilities
Total equity and liabilities10/49€5.30M€5.17M▼
Equity10/15€3.31M€3.34M▲
Contributions10/11€200k€200k=
Reserves13€333k€310k▼
Non-distributable reserves130/1€47k€47k=
Reserves not available under the articles1311€47k€47k=
Tax-exempt reserves132€286k€262k▼
Profit (loss) carried forward14€2.78M€2.83M▲
Provisions and deferred taxes16€77k€69k▼
Deferred taxes168€77k€69k▼
Amounts payable17/49€1.92M€1.76M▼
Amounts payable after more than one year17€1.74M€1.59M▼
Financial debts170/4€1.74M€1.59M▼
Leasing and similar obligations172€1.74M€1.59M▼
Amounts payable within one year42/48€180k€163k▼
Current portion of amounts payable after more than one year42€171k€153k▼
Trade debts44€5k€5k▲
Suppliers440/4€5k€5k▲
Taxes, remuneration and social security45€4k€5k▲
Taxes450/3€4k€5k▲
Income statement
Code20222023
Operating income70/76A€2.54M€300k▼
Turnover70€517k€300k▼
Other operating income74€2.03M€120▼
Operating charges60/66A€1.02M€212k▼
Goods for resale, raw materials and consumables60€516k-
Change in stocks: decrease (increase)609€516k-
Services and other goods61€46k€13k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€407k€180k▼
Other operating charges640/8€53k€19k▼
Non-recurring operating charges66A€3k-
Operating profit (loss)9901€1.52M€88k▼
Financial income75/76B€17k€26k▲
Recurring financial income75€17k€26k▲
Income from current assets751€5k€26k▲
Other financial income752/9€11k-
Financial charges65/66B€147k€71k▼
Recurring financial charges65€147k€71k▼
Debt charges650€145k€71k▼
Other financial charges652/9€2k€467▼
Profit (loss) for the period before taxes9903€1.39M€43k▼
Transfer from deferred taxes780€14k€8k▼
Income taxes67/77€359k€19k▼
Taxes670/3€359k€19k▼
Profit (loss) for the period9904€1.04M€32k▼
Transfer from tax-exempt reserves789€198k€24k▼
Profit (loss) for the period to be appropriated9905€1.24M€56k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.78M€2.83M▲
Profit (loss) brought forward from the previous period14P€1.53M€2.78M▲
Transfer from equity791/2€155k-
From reserves792€155k-
Transfer to equity691/2€155k-
To other reserves6921€155k-
The notes to these accounts (28 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2019 | 2020 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | €2.54M | €300k | ▼ 88.2% |
| Turnover70 | - | - | €517k | €300k | ▼ 42.0% |
| Other operating income74 | - | - | €2.03M | €120 | ▼ 100.0% |
| Operating charges60/66A | - | - | €1.02M | €212k | ▼ 79.3% |
| Goods for resale, raw materials and consumables60 | - | - | €516k | - | - |
| Change in stocks: decrease (increase)609 | - | - | €516k | - | - |
| Services and other goods61 | - | - | €46k | €13k | ▼ 71.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €503k | €419k | €407k | €180k | ▼ 55.7% |
| Other operating charges640/8 | - | - | €53k | €19k | ▼ 64.9% |
| Non-recurring operating charges66A | - | - | €3k | - | - |
| Gross operating margin9900 | €2.94M | €3.47M | - | - | - |
| Operating profit (loss)9901 | €452k | €1.09M | €1.52M | €88k | ▼ 94.2% |
| Financial income75/76B | - | - | €17k | €26k | ▲ 55.2% |
| Recurring financial income75 | €15k | €69k | €17k | €26k | ▲ 55.2% |
| Income from current assets751 | - | - | €5k | €26k | ▲ 385% |
| Other financial income752/9 | - | - | €11k | - | - |
| Financial charges65/66B | - | - | €147k | €71k | ▼ 51.5% |
| Recurring financial charges65 | €136k | €129k | €147k | €71k | ▼ 51.5% |
| Debt charges650 | - | - | €145k | €71k | ▼ 51.1% |
| Other financial charges652/9 | - | - | €2k | €467 | ▼ 77.0% |
| Profit (loss) for the period before taxes9903 | €331k | €1.03M | €1.39M | €43k | ▼ 96.9% |
| Transfer from deferred taxes780 | - | - | €14k | €8k | ▼ 45.5% |
| Income taxes67/77 | €122k | €329k | €359k | €19k | ▼ 94.8% |
| Taxes670/3 | - | - | €359k | €19k | ▼ 94.8% |
| Profit (loss) for the period9904 | €219k | €708k | €1.04M | €32k | ▼ 96.9% |
| Transfer from tax-exempt reserves789 | - | - | €198k | €24k | ▼ 88.1% |
| Profit (loss) for the period to be appropriated9905 | €241k | €730k | €1.24M | €56k | ▼ 95.5% |
| Line | 2019 | 2020 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €6.10M | €5.86M | €5.30M | €5.17M | ▼ 2.6% |
| Fixed assets21/28 | €3.17M | €2.85M | €1.85M | €1.67M | ▼ 9.8% |
| Tangible fixed assets22/27 | €3.17M | €2.84M | €1.85M | €1.67M | ▼ 9.8% |
| Land and buildings22 | - | - | €172k | €172k | = |
| Leasing and similar rights25 | - | - | €1.60M | €1.43M | ▼ 10.3% |
| Other tangible fixed assets26 | - | - | €76k | €60k | ▼ 21.2% |
| Financial fixed assets28 | €6k | €6k | - | - | - |
| Current assets29/58 | €2.93M | €3.01M | €3.46M | €3.50M | ▲ 1.3% |
| Stocks and contracts in progress3 | €447k | €516k | - | - | - |
| Amounts receivable within one year40/41 | €200k | €318k | €195k | €182k | ▼ 6.7% |
| Trade receivables40 | - | - | €49k | €54k | ▲ 11.3% |
| Other amounts receivable41 | - | - | €146k | €128k | ▼ 12.7% |
| Current investments50/53 | €1.56M | €755k | - | - | - |
| Cash at bank and in hand54/58 | €652k | €1.38M | €3.26M | €3.32M | ▲ 1.8% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €6.10M | €5.86M | €5.30M | €5.17M | ▼ 2.6% |
| Equity10/15 | €2.35M | €2.26M | €3.31M | €3.34M | ▲ 1.0% |
| Contributions10/11 | €992k | - | €200k | €200k | = |
| Reserves13 | €1.34M | €2.05M | €333k | €310k | ▼ 7.1% |
| Non-distributable reserves130/1 | - | - | €47k | €47k | = |
| Reserves not available under the articles1311 | - | - | €47k | €47k | = |
| Tax-exempt reserves132 | - | - | €286k | €262k | ▼ 8.2% |
| Profit (loss) carried forward14 | €-131k | €-49k | €2.78M | €2.83M | ▲ 2.0% |
| Provisions and deferred taxes16 | €117k | €108k | €77k | €69k | ▼ 10.3% |
| Deferred taxes168 | - | - | €77k | €69k | ▼ 10.3% |
| Amounts payable17/49 | €3.63M | €3.49M | €1.92M | €1.76M | ▼ 8.3% |
| Amounts payable after more than one year17 | €2.53M | €2.13M | €1.74M | €1.59M | ▼ 8.2% |
| Financial debts170/4 | - | - | €1.74M | €1.59M | ▼ 8.2% |
| Leasing and similar obligations172 | - | - | €1.74M | €1.59M | ▼ 8.2% |
| Amounts payable within one year42/48 | €1.09M | €1.36M | €180k | €163k | ▼ 9.5% |
| Current portion of amounts payable after more than one year42 | - | - | €171k | €153k | ▼ 10.2% |
| Trade debts44 | €202k | €692k | €5k | €5k | ▲ 1.4% |
| Suppliers440/4 | - | - | €5k | €5k | ▲ 1.4% |
| Taxes, remuneration and social security45 | - | - | €4k | €5k | ▲ 2.4% |
| Taxes450/3 | - | - | €4k | €5k | ▲ 2.4% |
| Line | 2019 | 2020 | 2022 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €219k | €708k | €1.04M | €32k | ▼ 96.9% |
| + Depreciation and write-downs630 | €503k | €419k | €407k | €180k | ▼ 55.7% |
| Operating cash flow (approximation) | €722k | €1.13M | €1.45M | €212k | ▼ 85.4% |
| Investment in fixed assets (approximation) | - | €-94k | - | €0 | - |
| Change in cash | - | €724k | - | €58k | - |
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
05-06
State Gazette act
General meeting · Merger
Accounting effect
03-05
State Gazette act
General meeting · Merger
Accounting effect · Power of attorney
2023
25-09
State Gazette act
Merger · Accounting effect
Real estate · Merger effect
25-09
State Gazette act
Merger · Accounting effect
Real estate · Merger effective date
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Weakest financial yearnet €32k ▼96.9%
Net result drops to €32k, the lowest in the series.
2022
04-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Highest result since 2019net €1.04M ▲47.5%
Operating result €1.52M, net result €1.04M, both a record.
31-03
Financial
Liquidity times 9current ratio 19.22
Current ratio from 2.21 to 19.22; short-term debt falls from €1.36M to €180k.
2021
22-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 22 days late
2019
13-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
04-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 4 days late
Show earlier events
2018
24-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
17-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 17 days late
2015
22-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 29 days late
2013
30-09
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 61 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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:COLIM
Recognitions · licences · registrations
Dual-learning approval
9 endedAanvuller (so)
Kassier (so)
Keukenmedewerker (so)
Slager (so)
Slager-spekslager (so)
Slager/bereider verkoopklare gerechten (so)
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Slagerij duaal (so)
Verkoper (so)
Winkelbediende (so)