SMARTWATTS
InactiveInactive; last annual accounts for fiscal year 2023.
Signals
1 signal. The signal on the left, the evidence on the right.
+raises risk
raises risk · Filed more than 90 days late
The financial year that closed on 08-06-2023 was due by 08-01-2024 and was filed on 25-10-2024, 291 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 · 3 filingsDeviation from the deadline
2023
291 d late
2022
4 d late
2021
5 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 100 days after the deadline; the Belgian median for financial year 2023 is 3 days before the deadline, and 40% of all filings were late.
Checked, nothing found (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?Nuclys · 450 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, abbreviated schema
Turnover
€62,873▼ 82.3%
2022 · €355,430
EBIT margin
1534.0%▲ 1636.8pp
2022 · -102.7%
Net result
€942,093
2022 · -€400,262
Working capital
€30,224
2022 · -€943,420
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
Line202120222023
Turnover€416,532-€355,430▼ 14.7%€62,873▼ 82.3%
Operating result-€553,867--€365,096▲ 34.1%€964,498
Net result-€573,607--€400,262▲ 30.2%€942,093
EBIT margin-133.0%--102.7%▲ 30.3pp1534.0%▲ 1636.8pp
Equity-€511,607--€911,868▼ 78.2%€30,224
Total assets€274,530-€142,982▼ 47.9%€86,123▼ 39.8%
Debt€786,137-€1.1m▲ 34.2%€55,899▼ 94.7%
Working capital-€527,650--€943,420▼ 78.8%€30,224
Staff (FTE)3-5.9▲ 96.7%5.4▼ 8.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2023 Turnover -82% on 2022. This fiscal year ran 5 months, the previous one 12.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2023: €964,498 after a loss of €365,096 in 2022, the highest result in the available series.
Balance-sheet composition
Equity and liabilities €86,123
Equity
€30,224
Debt
€55,899
Debt finances 64.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€968,111▲
2022 · -€341,581
Cash flow
€945,706▲
2022 · -€376,746
Current ratio
1.54▲
2022 · 0.10
Debt to equity
1.85▲
2022 · -1.16
Interest coverage
43.51▲
2022 · -9.87
Debt ≤ 1 year
€55,899▼
2022 · €1.0m
Income taxes
€202▼
2022 · €836
Staff costs
€40,629▼
2022 · €278,877
A ratio outside any meaningful range has been withheld (balance sheet total €86,123, equity €30,224).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Turnover70 | €416,532 | €355,430 | €62,873 | ▼ 82.3% |
| Non-recurring operating income76A | - | - | €952,425 | - |
| Goods, raw materials, services and sundry goods60/61 | €742,378 | €415,869 | €120,542 | ▼ 71.0% |
| Remuneration, social security and pensions62 | €219,030 | €278,877 | €40,629 | ▼ 85.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,982 | €23,516 | €3,613 | ▼ 84.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €1,999 | -€1,999 | ▼ 200% |
| Other operating charges640/8 | €1,948 | €2,722 | €378 | ▼ 86.1% |
| Gross operating margin9900 | -€314,908 | -€57,983 | €1.0m | ▲ 1,837% |
| Operating profit (loss)9901 | -€553,867 | -€365,096 | €964,498 | ▲ 364% |
| Financial income75/76B | €84 | €269 | €46 | ▼ 82.8% |
| Recurring financial income75 | €84 | €269 | €46 | ▼ 82.8% |
| Financial charges65/66B | €18,994 | €34,598 | €22,249 | ▼ 35.7% |
| Recurring financial charges65 | €18,994 | €34,598 | €22,249 | ▼ 35.7% |
| Profit (loss) for the period before taxes9903 | -€572,777 | -€399,425 | €942,295 | ▲ 336% |
| Income taxes67/77 | €830 | €836 | €202 | ▼ 75.8% |
| Profit (loss) for the period9904 | -€573,607 | -€400,262 | €942,093 | ▲ 335% |
| Profit (loss) for the period to be appropriated9905 | -€573,607 | -€400,262 | €942,093 | ▲ 335% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €274,530 | €142,982 | €86,123 | ▼ 39.8% |
| Fixed assets21/28 | €39,072 | €41,041 | - | - |
| Tangible fixed assets22/27 | €39,072 | €41,041 | - | - |
| Plant, machinery and equipment23 | €27,146 | €34,272 | - | - |
| Furniture and vehicles24 | €9,027 | €6,769 | - | - |
| Other tangible fixed assets26 | €2,898 | - | - | - |
| Current assets29/58 | €235,459 | €101,941 | €86,123 | ▼ 15.5% |
| Amounts receivable within one year40/41 | €225,069 | €90,115 | €84,362 | ▼ 6.4% |
| Trade receivables40 | €150,970 | €78,087 | €4,430 | ▼ 94.3% |
| Other amounts receivable41 | €74,100 | €12,028 | €79,932 | ▲ 565% |
| Cash at bank and in hand54/58 | €10,389 | €8,135 | €1,762 | ▼ 78.3% |
| Deferred charges and accrued income490/1 | - | €3,691 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €274,530 | €142,982 | €86,123 | ▼ 39.8% |
| Equity10/15 | -€511,607 | -€911,868 | €30,224 | ▲ 103% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | = |
| Profit (loss) carried forward14 | -€573,607 | -€973,868 | -€31,776 | ▲ 96.7% |
| Amounts payable17/49 | €786,137 | €1.1m | €55,899 | ▼ 94.7% |
| Amounts payable within one year42/48 | €763,108 | €1.0m | €55,899 | ▼ 94.7% |
| Current portion of amounts payable after more than one year42 | - | - | €47,434 | - |
| Trade debts44 | €102,866 | €95,305 | €1,350 | ▼ 98.6% |
| Suppliers440/4 | €102,866 | €95,305 | €1,350 | ▼ 98.6% |
| Taxes, remuneration and social security45 | €22,481 | €38,351 | €7,115 | ▼ 81.4% |
| Taxes450/3 | €830 | €4,127 | €7,115 | ▲ 72.4% |
| Remuneration and social security454/9 | €21,651 | €34,223 | - | - |
| Other amounts payable47/48 | €637,761 | €911,706 | - | - |
| Accrued charges and deferred income492/3 | €23,029 | €9,488 | - | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€573,607 | -€400,262 | €942,093 | ▲ 335% |
| + Depreciation and write-downs630 | €17,982 | €23,516 | €3,613 | ▼ 84.6% |
| Operating cash flow (approximation) | -€555,625 | -€376,746 | €945,706 | ▲ 351% |
| Investment in fixed assets (approximation) | - | -€25,484 | - | - |
| Change in cash | - | -€2,254 | -€6,374 | ▼ 183% |
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
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 291 days late
2023
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 4 days late
08-06
Financial
Back to profitnet €942,093
Net result €942,093 after 2 loss-making years.
08-06
Financial
Liquidity times 16current ratio 1.54
Current ratio from 0.10 to 1.54; short-term debt falls from €1.0m to €55,899.
2022
05-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 5 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
Part of the group
Nuclys
450 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Nuclys
- De Cronos Groep
- Divirsiti
- SMARTAPPS
- SMARTWATTS
Highest known parent: Nuclys. The sources do not say who stands above it.
Owners 1
- SMARTAPPSparentSourceown accounts 08-06-2023100%
Holdings 0
The accounts to 08-06-2023 list no holdings, and no other source names one.
According to the annual accounts to 08-06-2023 of SMARTWATTS and those 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.