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 2019. It is the fourth rise in a row.
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 |