SOLIDA
Open bankruptcyFinancials · financial year 2021, abbreviated format
2021 annual accounts filed 61 days after the deadline Filed on 30 September 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20443674.
Annual accounts 2021 filed on 30-09-2022 PDF all 16 filings
Turnover
≈ €470,000
Estimated: probably between €280,000 and €870,000
Total assets
€553,963▲ 12.1%
2020 · €494,233
Net result
-€114,691▼ 332%
2020 · -€26,527
Working capital
-€124,443
2020 · €27,078
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
-€106,712
▼ 220%
2021
20182021
Net result
-€114,691
▼ 332%
2021
20182021
Equity
€16,998
▼ 87.1%
2021
20182021
Total assets
€553,963
▲ 12.1%
2021
20182021
Debt
€536,966
▲ 48.1%
2021
20182021
Working capital
-€124,443
2021
20182021
Staff (FTE)
5.9
▼ 13.2%
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result-€9,654--€9,819▼ 1.7%-€33,328▼ 239%-€106,712▼ 220%
Net result-€10,330--€10,568▼ 2.3%-€26,527▼ 151%-€114,691▼ 332%
Equity€168,783-€158,215▼ 6.3%€131,688▼ 16.8%€16,998▼ 87.1%
Total assets€288,724-€312,380▲ 8.2%€494,233▲ 58.2%€553,963▲ 12.1%
Debt€119,941-€154,165▲ 28.5%€362,545▲ 135%€536,966▲ 48.1%
Working capital€136,451-€142,080▲ 4.1%€27,078▼ 80.9%-€124,443
Staff (FTE)6.4-6.5▲ 1.6%6.8▲ 4.6%5.9▼ 13.2%
The operating result for 2021 is a loss of €106,712, larger than the loss of €33,328 in 2020. It is the lowest result since 2018.
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
2021 in colour, 2020 as the grey bar beneath
Assets €553,963
Fixed assets
€225,955 ▲ 33.4%
Current assets
€328,008 ▲ 1.0%
Equity and liabilities €553,963
Equity
€16,998 ▼ 87.1%
Debt
€536,966 ▲ 48.1%
Debt's share of the balance-sheet total rises from 73.4% to 96.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€65,232▼
2020 · -€12,020
Cash flow
-€73,210▼
2020 · -€5,219
Current ratio
0.72▼
2020 · 1.09
Quick ratio
0.61▼
2020 · 0.97
Debt to equity
31.59▲
2020 · 0.30
ROE
-674.7%▼
2020 · -20.1%
ROA
-20.7%▼
2020 · -5.4%
Interest coverage
-7.84
Debt ≤ 1 year
€452,452▲
2020 · €297,713
Debt > 1 year
€84,514▲
2020 · €39,209
Staff costs
€235,929
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 6 |
| full-time | 3 |
| part-time | 3 |
| in full-time equivalents | 5.4 |
| Average over the year, in full-time equivalents | 5.9 |
| On a permanent contract | 6 |
| Joined | 3 |
| Left | 3 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €97,993 |
| Depreciation and write-downs of the year | €41,480 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €577 | - |
| Remuneration, social security and pensions62 | - | - | - | €235,929 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,147 | €19,311 | €21,308 | €41,480 | ▲ 94.7% |
| Other operating charges640/8 | - | - | - | €11,823 | - |
| Non-recurring operating charges66A | - | - | - | €687 | - |
| Gross operating margin9900 | €319,676 | €372,083 | €229,616 | €183,208 | ▼ 20.2% |
| Operating profit (loss)9901 | -€9,654 | -€9,819 | -€33,328 | -€106,712 | ▼ 220% |
| Financial income75/76B | - | - | - | €340 | - |
| Recurring financial income75 | - | - | €12 | €340 | ▲ 29× |
| Financial charges65/66B | - | - | - | €8,319 | - |
| Recurring financial charges65 | €676 | €749 | €2,211 | €8,319 | ▲ 276% |
| Profit (loss) for the period before taxes9903 | -€10,330 | -€10,568 | -€26,527 | -€114,691 | ▼ 332% |
| Profit (loss) for the period9904 | -€10,330 | -€10,568 | -€26,527 | -€114,691 | ▼ 332% |
| Profit (loss) for the period to be appropriated9905 | -€10,330 | -€10,568 | -€26,527 | -€114,691 | ▼ 332% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €288,724 | €312,380 | €494,233 | €553,963 | ▲ 12.1% |
| Fixed assets21/28 | €32,332 | €41,521 | €169,442 | €225,955 | ▲ 33.4% |
| Tangible fixed assets22/27 | €32,332 | €41,521 | €169,442 | €225,955 | ▲ 33.4% |
| Plant, machinery and equipment23 | - | - | - | €96,744 | - |
| Furniture and vehicles24 | - | - | - | €106,411 | - |
| Other tangible fixed assets26 | - | - | - | €22,800 | - |
| Current assets29/58 | €256,392 | €270,859 | €324,791 | €328,008 | ▲ 1.0% |
| Stocks and contracts in progress3 | €33,267 | €27,194 | €36,374 | €51,031 | ▲ 40.3% |
| Stocks30/36 | - | - | - | €51,031 | - |
| Amounts receivable within one year40/41 | €37,057 | €193,782 | €218,022 | €221,304 | ▲ 1.5% |
| Trade receivables40 | - | - | - | €2,132 | - |
| Other amounts receivable41 | - | - | - | €219,171 | - |
| Cash at bank and in hand54/58 | €182,856 | €49,106 | €66,789 | €54,358 | ▼ 18.6% |
| Deferred charges and accrued income490/1 | - | - | - | €1,315 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €288,724 | €312,380 | €494,233 | €553,963 | ▲ 12.1% |
| Equity10/15 | €168,783 | €158,215 | €131,688 | €16,998 | ▼ 87.1% |
| Reserves13 | - | - | - | €35,593 | - |
| Profit (loss) carried forward14 | €133,190 | €122,623 | €96,096 | -€18,595 | - |
| Amounts payable17/49 | €119,941 | €154,165 | €362,545 | €536,966 | ▲ 48.1% |
| Amounts payable after more than one year17 | - | €25,000 | €39,209 | €84,514 | ▲ 116% |
| Financial debts170/4 | - | - | - | €84,514 | - |
| Amounts payable within one year42/48 | €119,941 | €128,779 | €297,713 | €452,452 | ▲ 52.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €59,037 | - |
| Financial debts43 | - | - | - | €620 | - |
| Credit institutions430/8 | - | - | - | €620 | - |
| Trade debts44 | €81,240 | €82,200 | €286,412 | €317,779 | ▲ 11.0% |
| Suppliers440/4 | - | - | - | €317,779 | - |
| Advances received on contracts in progress46 | - | - | - | €1,664 | - |
| Taxes, remuneration and social security45 | - | - | - | €48,699 | - |
| Taxes450/3 | - | - | - | €3,564 | - |
| Remuneration and social security454/9 | - | - | - | €45,134 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,330 | -€10,568 | -€26,527 | -€114,691 | ▼ 332% |
| + Depreciation and write-downs630 | €21,147 | €19,311 | €21,308 | €41,480 | ▲ 94.7% |
| Operating cash flow (approximation) | €10,817 | €8,744 | -€5,219 | -€73,210 | ▼ 1,303% |
| Investment in fixed assets (approximation) | - | -€28,500 | -€149,230 | -€97,993 | ▲ 34.3% |
| Change in cash | - | -€133,751 | €17,683 | -€12,430 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | abbreviated format | 30-09-2022 | 2022-20443674 | |
| 31-12-2020 | abbreviated format | 20-10-2021 | 2021-72400398 | |
| 31-12-2019 | abbreviated format | 30-09-2020 | 2020-58100125 | |
| 31-12-2018 | abbreviated format | 24-06-2019 | 2019-22000034 | |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-26300397 | |
| 31-12-2016 | abbreviated format | 01-08-2017 | 2017-40500063 | |
| 31-12-2015 | abbreviated format | 08-07-2016 | 2016-30500269 | |
| 31-12-2014 | abbreviated format | 01-07-2015 | 2015-26800012 | |
| 31-12-2013 | abbreviated format | 04-07-2014 | 2014-27100342 | |
| 31-12-2012 | abbreviated format | 05-07-2013 | 2013-27900377 |