SILHOUET
Open bankruptcyFinancials · financial year 2023, abbreviated format
2023 annual accounts filed 28 days after the deadline Filed on 28 May 2024, deadline 30 April 2024 (7 months after the close on 30 September 2023, Companies Code art. 3:10). Source: NBB, 2024-00097763.
Annual accounts 2023 filed on 28-05-2024 PDF all 14 filings
Turnover
≈ €1.8m
Estimated: probably between €1.2m and €2.9m
Total assets
€2.6m▼ 6.5%
2022 · €2.8m
Net result
€249,706▲ 450%
2022 · €45,420
Working capital
€190,972
2022 · -€191,752
Multi-year overview
2019 to 2023, 5 financial yearsOperating result
€292,914
▲ 255%
2023
20192023
Net result
€249,706
▲ 450%
2023
highest quarter of the sector
20192023
Equity
€881,428
▲ 39.5%
2023
highest quarter of the sector
20192023
Total assets
€2.6m
▼ 6.5%
2023
highest quarter of the sector
20192023
Debt
€1.7m
▼ 20.0%
2023
20192023
Working capital
€190,972
2023
middle half of the sector
20192023
Solvency
33.8%
▲ 11.2pp
2023
middle half of the sector
20192023
Current ratio
1.17
▲ 0.31
2023
middle half of the sector
20192023
Return on assets (ROA)
9.6%
▲ 7.9pp
2023
highest quarter of the sector
20192023
Staff (FTE)
6.4
▲ 30.6%
2023
middle half of the sector
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€0.1m-€0.1m▼ 21.7%€0.05m▼ 48.3%€0.08m▲ 56.2%€0.3m▲ 255%
Net result€0.09m-€0.06mabove the sector's middle half▼ 33.9%€0.008mwithin the sector's middle half▼ 85.4%€0.05mwithin the sector's middle half▲ 439%€0.2mabove the sector's middle half▲ 450%
Equity€0.2m-€0.6mwithin the sector's middle half▲ 239%€0.6mwithin the sector's middle half▲ 1.5%€0.6mwithin the sector's middle half▲ 7.7%€0.9mabove the sector's middle half▲ 39.5%
Total assets€3.2m-€3.2mabove the sector's middle half▲ 1.1%€3.1mabove the sector's middle half▼ 3.6%€2.8mabove the sector's middle half▼ 10.3%€2.6mabove the sector's middle half▼ 6.5%
Debt€3.0m-€2.6m▼ 12.3%€2.5m▼ 4.7%€2.2m▼ 14.5%€1.7m▼ 20.0%
Working capital-€0.8m--€0.2mbelow the sector's middle half▲ 77.3%-€0.3mbelow the sector's middle half▼ 33.2%-€0.2mbelow the sector's middle half▲ 24.7%€0.2mwithin the sector's middle half
Solvency5.3%-17.9%within the sector's middle half▲ 12.6pp18.9%within the sector's middle half▲ 0.9pp22.6%within the sector's middle half▲ 3.8pp33.8%within the sector's middle half▲ 11.2pp
Current ratio0.52-0.83below the sector's middle half▲ 0.310.81below the sector's middle half▼ 0.020.86below the sector's middle half▲ 0.041.17within the sector's middle half▲ 0.31
Return on assets (ROA)2.7%-1.8%within the sector's middle half▼ 0.9pp0.3%within the sector's middle half▼ 1.5pp1.6%within the sector's middle half▲ 1.4pp9.6%above the sector's middle half▲ 7.9pp
Staff (FTE)1.8-2.3below the sector's middle half▲ 27.8%3.4within the sector's middle half▲ 47.8%4.9within the sector's middle half▲ 44.1%6.4within the sector's middle half▲ 30.6%
above
within
below
The sector band is the middle half of the companies in Printing and reproduction of recorded media (NACE 18). 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 nearly 3.6 times that of 2022 and the highest since 2019. It is the second rise in a row, after the fall in 2021.
Turnover and EBIT margin are not published. The abbreviated 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 €2.6m
Fixed assets
€1.3m ▼ 22.2%
Current assets
€1.3m ▲ 15.4%
Equity and liabilities €2.6m
Equity
€881,428 ▲ 39.5%
Debt
€1.7m ▼ 20.0%
Debt's share of the balance-sheet total falls from 77.4% to 66.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€665,173▲
2022 · €463,650
Cash flow
€621,966▲
2022 · €426,607
Quick ratio
0.99▲
2022 · 0.71
Debt to equity
1.96▼
2022 · 3.42
ROE
28.3%▲
2022 · 7.2%
Interest coverage
15.10▲
2022 · 12.82
Debt ≤ 1 year
€1.2m▼
2022 · €1.4m
Debt > 1 year
€572,272▼
2022 · €800,101
Income taxes
€908▲
2022 · €872
Staff costs
€348,315▲
2022 · €242,719
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 4 | 6 | 5 |
| full-time | 3 | 6 | 5 |
| part-time | 1 | - | - |
| in full-time equivalents | 3.8 | 6 | 5 |
| Average over the year, in full-time equivalents | 3.4 | 4.9 | 6.4 |
| On a permanent contract | 3 | 3 | 5 |
| Joined | 7 | 7 | 13 |
| Left | 6 | 5 | 12 |
| Training hours | 16 | 24 | 20 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 |
|---|---|---|---|
| Tangible fixed assets | €98,544 | €9,584 | €11,413 |
| Depreciation and write-downs of the year | €383,466 | €381,187 | €372,259 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €0.2m | €0.2m | €0.3m | ▲ 43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 2.3% |
| Other operating charges640/8 | - | - | €0.03m | €0.009m | €0.009m | ▲ 5.4% |
| Non-recurring operating charges66A | - | - | €0.1m | - | - | - |
| Gross operating margin9900 | €0.5m | €0.6m | €0.8m | €0.7m | €1.0m | ▲ 43.0% |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.05m | €0.08m | €0.3m | ▲ 255% |
| Financial income75/76B | - | - | €1 | - | €0.002m | - |
| Recurring financial income75 | €378 | €1 | €1 | - | €0.002m | - |
| Financial charges65/66B | - | - | €0.04m | €0.04m | €0.04m | ▲ 21.8% |
| Recurring financial charges65 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 21.8% |
| Profit (loss) for the period before taxes9903 | €0.09m | €0.06m | €0.009m | €0.05m | €0.3m | ▲ 441% |
| Income taxes67/77 | €0 | €0 | €0.001m | €0.001m | €0.001m | ▲ 4.1% |
| Profit (loss) for the period9904 | €0.09m | €0.06m | €0.008m | €0.05m | €0.2m | ▲ 450% |
| Profit (loss) for the period to be appropriated9905 | €0.09m | €0.06m | €0.008m | €0.05m | €0.2m | ▲ 450% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.2m | €3.2m | €3.1m | €2.8m | €2.6m | ▼ 6.5% |
| Fixed assets21/28 | €2.3m | €2.3m | €2.0m | €1.6m | €1.3m | ▼ 22.2% |
| Tangible fixed assets22/27 | €2.3m | €2.3m | €2.0m | €1.6m | €1.3m | ▼ 22.2% |
| Land and buildings22 | - | - | €0.3m | €0.3m | €0.3m | ▼ 12.4% |
| Plant, machinery and equipment23 | - | - | €1.5m | €1.2m | €0.9m | ▼ 22.6% |
| Furniture and vehicles24 | - | - | €0.02m | €0.007m | €0.002m | ▼ 70.6% |
| Leasing and similar rights25 | - | - | €0.1m | €0.1m | €0.05m | ▼ 45.5% |
| Current assets29/58 | €0.9m | €0.9m | €1.1m | €1.2m | €1.3m | ▲ 15.4% |
| Stocks and contracts in progress3 | €0.04m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 3.1% |
| Stocks30/36 | - | - | €0.1m | €0.2m | €0.2m | ▲ 3.1% |
| Amounts receivable within one year40/41 | €0.8m | €0.7m | €0.9m | €0.7m | €1.0m | ▲ 32.3% |
| Trade receivables40 | - | - | €0.8m | €0.6m | €0.9m | ▲ 40.9% |
| Other amounts receivable41 | - | - | €0.08m | €0.1m | €0.1m | ▼ 12.0% |
| Cash at bank and in hand54/58 | €0.06m | €0.1m | €0.05m | €0.2m | €0.2m | ▼ 28.5% |
| Deferred charges and accrued income490/1 | - | - | €0.02m | €0.02m | €0.03m | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.2m | €3.2m | €3.1m | €2.8m | €2.6m | ▼ 6.5% |
| Equity10/15 | €0.2m | €0.6m | €0.6m | €0.6m | €0.9m | ▲ 39.5% |
| Contributions10/11 | €0.03m | - | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €0.1m | €0.2m | €0.2m | €0.3m | €0.5m | ▲ 97.3% |
| Non-distributable reserves130/1 | - | - | €0.003m | €0.003m | €0.003m | = |
| Reserves not available under the articles1311 | - | - | €0.003m | €0.003m | €0.003m | = |
| Distributable reserves133 | - | - | €0.2m | €0.3m | €0.5m | ▲ 98.2% |
| Amounts payable17/49 | €3.0m | €2.6m | €2.5m | €2.2m | €1.7m | ▼ 20.0% |
| Amounts payable after more than one year17 | €1.3m | €1.5m | €1.2m | €0.8m | €0.6m | ▼ 28.5% |
| Financial debts170/4 | - | - | €1.2m | €0.8m | €0.6m | ▼ 28.5% |
| Amounts payable within one year42/48 | €1.8m | €1.1m | €1.4m | €1.4m | €1.2m | ▼ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | €0.3m | €0.4m | €0.2m | ▼ 35.7% |
| Financial debts43 | - | - | - | €0.2m | €0.2m | = |
| Other loans439 | - | - | - | €0.2m | €0.2m | = |
| Trade debts44 | €0.8m | €0.6m | €0.7m | €0.6m | €0.7m | ▲ 22.0% |
| Suppliers440/4 | - | - | €0.7m | €0.6m | €0.7m | ▲ 22.0% |
| Taxes, remuneration and social security45 | - | - | €0.03m | €0.03m | €0.04m | ▲ 62.5% |
| Taxes450/3 | - | - | €0.003m | €0.001m | €0.001m | ▲ 22.3% |
| Remuneration and social security454/9 | - | - | €0.02m | €0.03m | €0.04m | ▲ 63.9% |
| Other amounts payable47/48 | - | - | €0.3m | €0.2m | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €87,156 | €57,575 | €8,430 | €45,420 | €249,706 | ▲ 450% |
| + Depreciation and write-downs630 | €276,933 | €362,475 | €383,466 | €381,187 | €372,259 | ▼ 2.3% |
| Operating cash flow (approximation) | €364,089 | €420,050 | €391,897 | €426,607 | €621,966 | ▲ 45.8% |
| Investment in fixed assets (approximation) | - | -€373,598 | -€98,544 | -€9,584 | -€11,413 | ▼ 19.1% |
| Change in cash | - | €82,410 | -€90,835 | €169,400 | -€62,825 | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2023 | abbreviated format | 28-05-2024 | 2024-00097763 | |
| 30-09-2022 | abbreviated format | 19-04-2023 | 2023-00061114 | |
| 30-09-2021 | abbreviated format | 26-04-2022 | 2022-20011642 | |
| 30-09-2020 | abbreviated format | 21-04-2021 | 2021-11000106 | |
| 30-09-2019 | abbreviated format | 20-03-2020 | 2020-07200080 | |
| 30-09-2018 | abbreviated format | 27-06-2019 | 2019-27300195 | |
| 30-09-2017 | abbreviated format | 07-03-2018 | 2018-06600020 | |
| 30-09-2016 | abbreviated format | 10-03-2017 | 2017-06200128 | |
| 30-09-2015 | abbreviated format | 02-02-2016 | 2016-03900350 | |
| 30-09-2014 | abbreviated format | 12-02-2015 | 2015-04100569 |