SWITCHPOINT
Absorbed by SWITCHPOINT HOLDING BVFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 15-07-2024 PDF all 13 filings
Turnover
≈ €1.9m
Estimated: probably between €1.2m and €3.3m
Total assets
€4.6m▲ 0.9%
2022 · €4.5m
Net result
€443,670▼ 56.1%
2022 · €1.0m
Working capital
€2.7m▼ 0.3%
2022 · €2.7m
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
€626,093
▼ 54.6%
2023
20182023
Net result
€443,670
▼ 56.1%
2023
20182023
Equity
€2.7m
▲ 20.0%
2023
20182023
Total assets
€4.6m
▲ 0.9%
2023
20182023
Debt
€1.9m
▼ 17.5%
2023
20182023
Working capital
€2.7m
▼ 0.3%
2023
20182023
Staff (FTE)
1
▼ 81.8%
2023
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result-€0.3m-€0.5m€0.5m▲ 7.6%€0.8m▲ 57.7%€1.4m▲ 78.9%€0.6m▼ 54.6%
Net result-€0.3m-€0.4m€0.4m▼ 7.2%€0.6m▲ 61.0%€1.0m▲ 78.4%€0.4m▼ 56.1%
Equity€0.2m-€0.6m▲ 157%€0.7m▲ 17.4%€1.2m▲ 66.1%€2.2m▲ 83.5%€2.7m▲ 20.0%
Total assets€1.6m-€1.4m▼ 11.3%€2.1m▲ 50.0%€2.4m▲ 14.7%€4.5m▲ 87.2%€4.6m▲ 0.9%
Debt€1.3m-€0.8m▼ 41.7%€1.4m▲ 76.0%€1.2m▼ 12.6%€2.3m▲ 91.0%€1.9m▼ 17.5%
Working capital€0.2m-€0.6m▲ 276%€0.8m▲ 28.5%€1.3m▲ 62.7%€2.7m▲ 104%€2.7m▼ 0.3%
Staff (FTE)8.1-5▼ 38.3%5.8▲ 16.0%6.7▲ 15.5%5.5▼ 17.9%1▼ 81.8%
The operating result for 2023 is 55% lower than in 2022 and the lowest since 2020.
Large changes and their cause
- 2023 Net result -56% on 2022. Last accounts before the absorption by SWITCHPOINT HOLDING BV (Official Gazette 11-04-2024).
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 €4.6m
Fixed assets
€3,444 ▼ 88.8%
Current assets
€4.6m ▲ 1.6%
Equity and liabilities €4.6m
Equity
€2.7m ▲ 20.0%
Debt
€1.9m ▼ 17.5%
Debt's share of the balance-sheet total falls from 50.7% to 41.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€633,097▼
2022 · €1.4m
Cash flow
€450,674▼
2022 · €1.0m
Current ratio
2.45▼
2022 · 2.51
Debt to equity
0.71▼
2022 · 1.03
ROE
16.6%▼
2022 · 45.5%
ROA
9.7%▼
2022 · 22.4%
Interest coverage
22.62▼
2022 · 35.14
Debt ≤ 1 year
€1.9m▲
2022 · €1.8m
Income taxes
€202,579▼
2022 · €358,874
Staff costs
€184,988▼
2022 · €450,041
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 7 | 5 |
| full-time | 7 | 5 |
| in full-time equivalents | 7 | 5 |
| Average over the year, in full-time equivalents | 6.7 | 5.5 |
| On a permanent contract | 7 | 5 |
| Joined | 4 | 0 |
| Left | 4 | 2 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €11,999 | €9,119 | - |
| Depreciation and write-downs of the year | €14,922 | €11,549 | €7,004 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €4,599 awarded · €4,599 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €1,022 | €1,022 |
| 2023 | 1 | €1,960 | €1,960 |
| 2022 | 1 | €1,617 | €1,617 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0.01m | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.5m | €0.2m | ▼ 58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.04m | €0.01m | €0.01m | €0.01m | €0.007m | ▼ 39.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.004m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.004m | €0.007m | €0.002m | ▼ 70.1% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.003m | - |
| Gross operating margin9900 | €0.3m | €0.9m | €1.0m | €1.3m | €1.8m | €0.8m | ▼ 55.4% |
| Operating profit (loss)9901 | -€0.3m | €0.5m | €0.5m | €0.8m | €1.4m | €0.6m | ▼ 54.6% |
| Financial income75/76B | - | - | - | €0.005m | €0.03m | €0.05m | ▲ 50.3% |
| Recurring financial income75 | €0.008m | €0.002m | €158 | €0.005m | €0.03m | €0.05m | ▲ 50.3% |
| Financial charges65/66B | - | - | - | €0.009m | €0.04m | €0.03m | ▼ 29.2% |
| Recurring financial charges65 | €0.007m | €0.008m | €0.009m | €0.009m | €0.04m | €0.03m | ▼ 29.2% |
| Profit (loss) for the period before taxes9903 | -€0.3m | €0.4m | €0.5m | €0.8m | €1.4m | €0.6m | ▼ 52.8% |
| Income taxes67/77 | €0.001m | €0.07m | €0.1m | €0.2m | €0.4m | €0.2m | ▼ 43.6% |
| Profit (loss) for the period9904 | -€0.3m | €0.4m | €0.4m | €0.6m | €1.0m | €0.4m | ▼ 56.1% |
| Profit (loss) for the period to be appropriated9905 | -€0.3m | €0.4m | €0.4m | €0.6m | €1.0m | €0.4m | ▼ 56.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €1.6m | €1.4m | €2.1m | €2.4m | €4.5m | €4.6m | ▲ 0.9% |
| Formation expenses20 | - | - | - | - | - | €0 | - |
| Fixed assets21/28 | €0.09m | €0.04m | €0.04m | €0.04m | €0.03m | €0.003m | ▼ 88.8% |
| Tangible fixed assets22/27 | €0.07m | €0.03m | €0.03m | €0.02m | €0.02m | €0.003m | ▼ 81.0% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.01m | €0.003m | ▼ 75.7% |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.003m | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €0.001m | €0.001m | - | - |
| Financial fixed assets28 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0 | ▼ 100% |
| Current assets29/58 | €1.5m | €1.4m | €2.1m | €2.4m | €4.5m | €4.6m | ▲ 1.6% |
| Amounts receivable within one year40/41 | €1.0m | €0.8m | €0.9m | €1.3m | €2.8m | €4.5m | ▲ 60.9% |
| Trade receivables40 | - | - | - | €1.1m | €2.7m | €1.6m | ▼ 41.5% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.06m | €2.9m | ▲ 50× |
| Cash at bank and in hand54/58 | €0.5m | €0.6m | €1.2m | €1.0m | €1.7m | €0.08m | ▼ 95.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.01m | €373 | ▼ 96.6% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €1.6m | €1.4m | €2.1m | €2.4m | €4.5m | €4.6m | ▲ 0.9% |
| Equity10/15 | €0.2m | €0.6m | €0.7m | €1.2m | €2.2m | €2.7m | ▲ 20.0% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.2m | €0.6m | €0.7m | €1.1m | €2.2m | €1.1m | ▼ 46.8% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €1.1m | €2.2m | €1.1m | ▼ 46.9% |
| Profit (loss) carried forward14 | - | - | - | - | - | €1.5m | - |
| Amounts payable17/49 | €1.3m | €0.8m | €1.4m | €1.2m | €2.3m | €1.9m | ▼ 17.5% |
| Amounts payable after more than one year17 | €0.01m | €0.003m | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.3m | €0.7m | €1.2m | €1.0m | €1.8m | €1.9m | ▲ 4.4% |
| Financial debts43 | - | - | - | €0.009m | €0.03m | €0 | ▼ 100% |
| Other loans439 | - | - | - | €0.009m | €0.03m | €0 | ▼ 100% |
| Trade debts44 | €0.9m | €0.6m | €0.9m | €0.9m | €1.5m | €1.6m | ▲ 9.4% |
| Suppliers440/4 | - | - | - | €0.9m | €1.5m | €1.6m | ▲ 9.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.2m | €0.2m | ▼ 12.8% |
| Taxes450/3 | - | - | - | €166 | €0.2m | €0.2m | ▲ 8.8% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.05m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.09m | - | €499 | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.5m | €0.03m | ▼ 94.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | €0.4m | €0.4m | €0.6m | €1.0m | €0.4m | ▼ 56.1% |
| + Depreciation and write-downs630 | €0.05m | €0.04m | €0.01m | €0.01m | €0.01m | €0.007m | ▼ 39.4% |
| Operating cash flow (approximation) | -€0.2m | €0.4m | €0.4m | €0.6m | €1.0m | €0.5m | ▼ 55.9% |
| Investment in fixed assets (approximation) | - | €0.002m | -€0.009m | -€0.01m | -€0.006m | €0.02m | - |
| Change in cash | - | €0.08m | €0.6m | -€0.1m | €0.6m | -€1.6m | - |
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 | abbreviated format | 15-07-2024 | 2024-00269751 | |
| 31-12-2022 | abbreviated format | 11-07-2023 | 2023-00236117 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20131403 | |
| 31-12-2020 | abbreviated format | 18-08-2021 | 2021-49400560 | |
| 31-12-2019 | abbreviated format | 05-05-2020 | 2020-11200563 | |
| 31-12-2018 | abbreviated format | 22-07-2019 | 2019-35200197 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-40200003 | |
| 31-12-2016 | abbreviated format | 24-08-2017 | 2017-47600474 | |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-55600182 | |
| 31-12-2014 | abbreviated format | 28-08-2015 | 2015-53100292 |