SERAFINA
Open bankruptcyFinancials · financial year 2023, micro format
2023 annual accounts filed 62 days after the deadline Filed on 1 October 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00484542.
Annual accounts 2023 filed on 01-10-2024 PDF all 13 filings
Turnover
≈ €180,000
Estimated: probably between €120,000 and €370,000
Total assets
€73,221▲ 18.7%
2022 · €61,709
Net result
€6,797▲ 13.8%
2022 · €5,972
Working capital
€30,751▲ 14.5%
2022 · €26,857
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
€12,937
▲ 11.0%
2023
20182023
Net result
€6,797
▲ 13.8%
2023
middle half of the sector
20182023
Equity
€51,887
▲ 15.1%
2023
middle half of the sector
20182023
Total assets
€73,221
▲ 18.7%
2023
middle half of the sector
20182023
Debt
€21,334
▲ 28.4%
2023
20182023
Working capital
€30,751
▲ 14.5%
2023
middle half of the sector
20182023
Solvency
70.9%
▼ 2.2pp
2023
highest quarter of the sector
20182023
Current ratio
2.44
▼ 0.29
2023
middle half of the sector
20182023
Return on assets (ROA)
9.3%
▼ 0.4pp
2023
middle half of the sector
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€6,894-€3,640▼ 47.2%€4,957▲ 36.2%€5,885▲ 18.7%€11,657▲ 98.1%€12,937▲ 11.0%
Net result€4,067-€3,287▼ 19.2%€3,869below the sector's middle half▲ 17.7%€3,083within the sector's middle half▼ 20.3%€5,972within the sector's middle half▲ 93.7%€6,797within the sector's middle half▲ 13.8%
Equity€28,878-€32,165▲ 11.4%€36,034below the sector's middle half▲ 12.0%€39,117within the sector's middle half▲ 8.6%€45,090within the sector's middle half▲ 15.3%€51,887within the sector's middle half▲ 15.1%
Total assets€41,004-€37,295▼ 9.0%€47,614below the sector's middle half▲ 27.7%€46,595below the sector's middle half▼ 2.1%€61,709below the sector's middle half▲ 32.4%€73,221within the sector's middle half▲ 18.7%
Debt€12,126-€5,130▼ 57.7%€11,580▲ 126%€7,478▼ 35.4%€16,619▲ 122%€21,334▲ 28.4%
Working capital€23,326-€28,837▲ 23.6%€31,841within the sector's middle half▲ 10.4%€35,099within the sector's middle half▲ 10.2%€26,857within the sector's middle half▼ 23.5%€30,751within the sector's middle half▲ 14.5%
Solvency70.4%-86.2%▲ 15.8pp75.7%above the sector's middle half▼ 10.6pp84.0%above the sector's middle half▲ 8.3pp73.1%above the sector's middle half▼ 10.9pp70.9%above the sector's middle half▼ 2.2pp
Current ratio2.92-6.62▲ 3.703.75above the sector's middle half▼ 2.876.74above the sector's middle half▲ 2.992.73within the sector's middle half▼ 4.002.44within the sector's middle half▼ 0.29
Return on assets (ROA)9.9%-8.8%▼ 1.1pp8.1%within the sector's middle half▼ 0.7pp6.6%within the sector's middle half▼ 1.5pp9.7%within the sector's middle half▲ 3.1pp9.3%within the sector's middle half▼ 0.4pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 2023 is 11% higher than in 2022 and the highest since 2018. It is the fourth rise in a row, after the fall in 2019.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €73,221
Fixed assets
€21,136 ▲ 9.2%
Current assets
€52,085 ▲ 23.0%
Equity and liabilities €73,221
Equity
€51,887 ▲ 15.1%
Debt
€21,334 ▲ 28.4%
Debt's share of the balance-sheet total rises from 26.9% to 29.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,832▲
2022 · €15,853
Cash flow
€13,692▲
2022 · €10,168
Debt to equity
0.41▲
2022 · 0.37
ROE
13.1%▼
2022 · 13.2%
Interest coverage
9.81▲
2022 · 6.46
Debt ≤ 1 year
€21,334▲
2022 · €15,497
Income taxes
€4,143▲
2022 · €3,232
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €2,668 | €18,174 | €8,676 |
| Financial fixed assets | €90 | - | - |
| Depreciation and write-downs of the year | €1,574 | €4,196 | €6,895 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,232 | €1,577 | €1,801 | €1,574 | €4,196 | €6,895 | ▲ 64.3% |
| Other operating charges640/8 | - | - | - | €610 | €1,287 | €1,584 | ▲ 23.1% |
| Gross operating margin9900 | €9,179 | €7,827 | €6,811 | €8,069 | €17,140 | €21,416 | ▲ 24.9% |
| Operating profit (loss)9901 | €6,894 | €3,640 | €4,957 | €5,885 | €11,657 | €12,937 | ▲ 11.0% |
| Financial income75/76B | - | - | - | €1 | - | €24 | - |
| Recurring financial income75 | - | €1,134 | €0 | €1 | - | €24 | - |
| Non-recurring financial income76B | - | - | - | - | - | €24 | - |
| Financial charges65/66B | - | - | - | €1,743 | €2,453 | €2,021 | ▼ 17.6% |
| Recurring financial charges65 | €1,331 | €206 | €216 | €1,743 | €2,453 | €2,021 | ▼ 17.6% |
| Profit (loss) for the period before taxes9903 | €5,563 | €4,568 | €4,741 | €4,143 | €9,204 | €10,940 | ▲ 18.9% |
| Income taxes67/77 | €1,496 | €1,281 | €872 | €1,060 | €3,232 | €4,143 | ▲ 28.2% |
| Profit (loss) for the period9904 | €4,067 | €3,287 | €3,869 | €3,083 | €5,972 | €6,797 | ▲ 13.8% |
| Profit (loss) for the period to be appropriated9905 | €4,067 | €3,287 | €3,869 | €3,083 | €5,972 | €6,797 | ▲ 13.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €41,004 | €37,295 | €47,614 | €46,595 | €61,709 | €73,221 | ▲ 18.7% |
| Fixed assets21/28 | €5,552 | €3,328 | €4,193 | €5,377 | €19,355 | €21,136 | ▲ 9.2% |
| Tangible fixed assets22/27 | €2,692 | €2,968 | €4,193 | €5,287 | €19,265 | €21,046 | ▲ 9.2% |
| Plant, machinery and equipment23 | - | - | - | €3,325 | €1,727 | €4,555 | ▲ 164% |
| Furniture and vehicles24 | - | - | - | €1,962 | €17,538 | €16,491 | ▼ 6.0% |
| Financial fixed assets28 | €2,860 | €360 | - | €90 | €90 | €90 | = |
| Current assets29/58 | €35,452 | €33,967 | €43,421 | €41,218 | €42,354 | €52,085 | ▲ 23.0% |
| Amounts receivable within one year40/41 | €21,993 | €22,788 | €23,687 | €29,859 | €38,893 | €35,294 | ▼ 9.3% |
| Trade receivables40 | - | - | - | €29,114 | €37,246 | €21,914 | ▼ 41.2% |
| Other amounts receivable41 | - | - | - | €745 | €1,647 | €13,380 | ▲ 712% |
| Cash at bank and in hand54/58 | €13,459 | €11,179 | €19,734 | €11,359 | €2,411 | €16,791 | ▲ 596% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,050 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €41,004 | €37,295 | €47,614 | €46,595 | €61,709 | €73,221 | ▲ 18.7% |
| Equity10/15 | €28,878 | €32,165 | €36,034 | €39,117 | €45,090 | €51,887 | ▲ 15.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €10,278 | €13,565 | €17,434 | €20,517 | €26,490 | €33,287 | ▲ 25.7% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €18,657 | €24,630 | €31,427 | ▲ 27.6% |
| Amounts payable17/49 | €12,126 | €5,130 | €11,580 | €7,478 | €16,619 | €21,334 | ▲ 28.4% |
| Amounts payable within one year42/48 | €12,126 | €5,130 | €11,580 | €6,119 | €15,497 | €21,334 | ▲ 37.7% |
| Trade debts44 | - | - | €2,305 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €4,721 | €11,161 | €20,477 | ▲ 83.5% |
| Taxes450/3 | - | - | - | €4,721 | €11,161 | €20,077 | ▲ 79.9% |
| Remuneration and social security454/9 | - | - | - | - | - | €400 | - |
| Other amounts payable47/48 | - | - | - | €1,398 | €4,336 | €857 | ▼ 80.2% |
| Accrued charges and deferred income492/3 | - | - | - | €1,359 | €1,122 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,067 | €3,287 | €3,869 | €3,083 | €5,972 | €6,797 | ▲ 13.8% |
| + Depreciation and write-downs630 | €2,232 | €1,577 | €1,801 | €1,574 | €4,196 | €6,895 | ▲ 64.3% |
| Operating cash flow (approximation) | €6,299 | €4,864 | €5,670 | €4,657 | €10,168 | €13,692 | ▲ 34.7% |
| Investment in fixed assets (approximation) | - | €647 | -€2,666 | -€2,758 | -€18,174 | -€8,676 | ▲ 52.3% |
| Change in cash | - | -€2,280 | €8,555 | -€8,375 | -€8,948 | €14,380 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 01-10-2024 | 2024-00484542 | |
| 31-12-2022 | micro format | 12-01-2024 | 2024-00002633 | |
| 31-12-2021 | micro format | 12-01-2024 | 2024-00002632 | |
| 31-12-2020 | abbreviated format | 26-10-2021 | 2021-73400209 | |
| 31-12-2019 | abbreviated format | 05-10-2020 | 2020-60600239 | |
| 31-12-2018 | abbreviated format | 31-10-2019 | 2019-72800068 | |
| 31-12-2017 | abbreviated format | 09-01-2019 | 2019-00700423 | |
| 31-12-2016 | abbreviated format | 02-03-2018 | 2018-06100413 | |
| 31-12-2015 | abbreviated format | 25-08-2016 | 2016-49800440 | |
| 31-12-2014 | abbreviated format | 31-05-2016 | 2016-14200439 |