SERVOTRONIC
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline27-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 02-04-2024, 246 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
246 d late
2021
20 d early
2020
31 d early
2019
17 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 53 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Equity
€338,658▲ 58.4%
2021 · €213,782
Total assets
€465,935▲ 48.8%
2021 · €313,036
Net result
€154,877▲ 86.1%
2021 · €83,211
Working capital
€338,408▲ 58.6%
2021 · €213,395
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result-€11,723--€3,509▲ 70.1%€48,048€94,227▲ 96.1%€189,244▲ 101%
Net result-€15,406--€6,264▲ 59.3%€43,547€83,211▲ 91.1%€154,877▲ 86.1%
Equity€183,288-€177,024▼ 3.4%€180,571▲ 2.0%€213,782▲ 18.4%€338,658▲ 58.4%
Total assets€317,908-€253,244▼ 20.3%€259,262▲ 2.4%€313,036▲ 20.7%€465,935▲ 48.8%
Debt€134,619-€76,220▼ 43.4%€78,691▲ 3.2%€99,254▲ 26.1%€127,277▲ 28.2%
Working capital€178,587-€173,348▼ 2.9%€180,245▲ 4.0%€213,395▲ 18.4%€338,408▲ 58.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2022 Equity +58% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2022 is 101% above 2021 and is the highest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €465,935
Fixed assets
€250 ▼ 35.3%
Current assets
€465,685 ▲ 48.9%
Equity and liabilities €465,935
Equity
€338,658 ▲ 58.4%
Debt
€127,277 ▲ 28.2%
Debt's share of the balance-sheet total falls from 31.7% to 27.3%. Equity and debt are higher.
Key figures and ratios
Current ratio
3.66▲
2021 · 3.15
Quick ratio
2.47▲
2021 · 1.95
Debt to equity
0.38▼
2021 · 0.46
ROE
45.7%▲
2021 · 38.9%
ROA
33.2%▲
2021 · 26.6%
Debt ≤ 1 year
€127,277▲
2021 · €99,254
Income taxes
€33,977▲
2021 · €4,770
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,809 | €21,809 | €21,326 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€1,646 | €962 | ▲ 158% |
| Other operating charges640/8 | - | - | - | €6,553 | €1,029 | ▼ 84.3% |
| Gross operating margin9900 | €12,014 | €21,846 | €69,654 | €99,134 | €191,236 | ▲ 92.9% |
| Operating profit (loss)9901 | -€11,723 | -€3,509 | €48,048 | €94,227 | €189,244 | ▲ 101% |
| Financial income75/76B | - | - | - | €1,762 | €1,476 | ▼ 16.3% |
| Recurring financial income75 | €1,311 | €764 | €133 | €1,762 | €1,476 | ▼ 16.3% |
| Financial charges65/66B | - | - | - | €8,009 | €1,867 | ▼ 76.7% |
| Recurring financial charges65 | €4,528 | €3,085 | €4,292 | €8,009 | €1,867 | ▼ 76.7% |
| Profit (loss) for the period before taxes9903 | -€14,941 | -€5,829 | €43,889 | €87,981 | €188,853 | ▲ 115% |
| Income taxes67/77 | €465 | €435 | €342 | €4,770 | €33,977 | ▲ 612% |
| Profit (loss) for the period9904 | -€15,406 | -€6,264 | €43,547 | €83,211 | €154,877 | ▲ 86.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €27,798 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€15,406 | -€6,264 | €43,547 | €111,009 | €154,877 | ▲ 39.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €317,908 | €253,244 | €259,262 | €313,036 | €465,935 | ▲ 48.8% |
| Fixed assets21/28 | €43,522 | €21,713 | €386 | €386 | €250 | ▼ 35.3% |
| Tangible fixed assets22/27 | €43,135 | €21,326 | - | - | - | - |
| Financial fixed assets28 | €386 | €386 | €386 | €386 | €250 | ▼ 35.3% |
| Current assets29/58 | €274,386 | €231,532 | €258,876 | €312,650 | €465,685 | ▲ 48.9% |
| Stocks and contracts in progress3 | €39,802 | €37,160 | €57,399 | €118,797 | €150,819 | ▲ 27.0% |
| Stocks30/36 | - | - | - | €118,797 | €150,819 | ▲ 27.0% |
| Amounts receivable within one year40/41 | €95,375 | €96,869 | €70,704 | €117,455 | €153,755 | ▲ 30.9% |
| Trade receivables40 | - | - | - | €113,191 | €150,102 | ▲ 32.6% |
| Other amounts receivable41 | - | - | - | €4,264 | €3,653 | ▼ 14.3% |
| Cash at bank and in hand54/58 | €134,073 | €94,606 | €128,130 | €73,774 | €158,354 | ▲ 115% |
| Deferred charges and accrued income490/1 | - | - | - | €2,623 | €2,757 | ▲ 5.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €317,908 | €253,244 | €259,262 | €313,036 | €465,935 | ▲ 48.8% |
| Equity10/15 | €183,288 | €177,024 | €180,571 | €213,782 | €338,658 | ▲ 58.4% |
| Contributions10/11 | €31,000 | €31,000 | - | €31,000 | €31,000 | = |
| Reserves13 | €259,282 | €146,024 | €146,024 | €178,600 | €303,100 | ▲ 69.7% |
| Non-distributable reserves130/1 | - | - | - | €3,100 | €3,100 | = |
| Reserves not available under the articles1311 | - | - | - | €3,100 | €3,100 | = |
| Distributable reserves133 | - | - | - | €175,500 | €300,000 | ▲ 70.9% |
| Profit (loss) carried forward14 | -€106,994 | -€91,588 | €3,547 | €4,182 | €4,558 | ▲ 9.0% |
| Amounts payable17/49 | €134,619 | €76,220 | €78,691 | €99,254 | €127,277 | ▲ 28.2% |
| Amounts payable after more than one year17 | €38,820 | €17,971 | - | - | - | - |
| Amounts payable within one year42/48 | €95,799 | €58,184 | €78,631 | €99,254 | €127,277 | ▲ 28.2% |
| Trade debts44 | €74,383 | €36,184 | €17,076 | €43,827 | €59,058 | ▲ 34.8% |
| Suppliers440/4 | - | - | - | €43,827 | €59,058 | ▲ 34.8% |
| Taxes, remuneration and social security45 | - | - | - | €5,113 | €38,219 | ▲ 648% |
| Taxes450/3 | - | - | - | €5,113 | €38,219 | ▲ 648% |
| Other amounts payable47/48 | - | - | - | €50,315 | €30,000 | ▼ 40.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,406 | -€6,264 | €43,547 | €83,211 | €154,877 | ▲ 86.1% |
| + Depreciation and write-downs630 | €21,809 | €21,809 | €21,326 | - | - | - |
| Operating cash flow (approximation) | €6,403 | €15,545 | €64,873 | €83,211 | €154,877 | ▲ 86.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €136 | - |
| Change in cash | - | -€39,466 | €33,524 | -€54,356 | €84,581 | ▲ 256% |
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
02-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 246 days late
2022
31-12
Financial
Highest result since 2018net €154,877 ▲86.1%
Operating result €189,244, net result €154,877, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €213,782 ▲18.4%
2 profitable years in a row build equity to €213,782.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €43,547
Net result €43,547 after 2 loss-making years.
17-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 17 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
23-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 23 days late
2015
29-06
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
16-07
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Structure & network
Owners and holdings
1 ownerChain of control
- Servotronic
- SERVOTRONIC
Highest known parent: Servotronic. The sources do not say who stands above it.
Owners 1
- Servotronicparent99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.