SYSTEM SOLUTIONS BELGIUM
InactiveFinancials · financial year 2023, full format
2023 annual accounts filed late (83 days) Filed on 21 February 2024, deadline 30 November 2023 (7 months after the close on 30 April 2023, Companies Code art. 3:10). Source: NBB, 2024-00032345.
Turnover
≈ €1.6m
Estimated: probably between €950,000 and €2.7m
EBIT margin
Not included in this filing
Net result
€56,873▼ 43.4%
2022 · €100,436
Working capital
€258,015▲ 23.8%
2022 · €208,490
Trend over the years
2019 to 2023, 5 financial years 2019 to 2023, 5 financial years
The operating result falls in 2023; 2023 is 41% below 2022.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.1m
2023
Net result€0.06m
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.8m
2023
Equity€0.2m
2023
Debt€0.6m
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.3m
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)6.8
2023
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€0.04m-€0.06m▲ 56.7%€0.04m▼ 39.1%€0.2m▲ 343%€0.1m▼ 40.9%
Net result€0.01m-€0.02m▲ 149%€0.01m▼ 49.1%€0.1m▲ 707%€0.06m▼ 43.4%
Equity€0.01m-€0.04m▲ 173%€0.05m▲ 32.3%€0.2m▲ 197%€0.2m▲ 37.6%
Total assets€0.7m-€1.1m▲ 66.7%€1.1m▼ 0.6%€1.0m▼ 6.5%€0.8m▼ 18.6%
Debt€0.6m-€1.0m▲ 64.3%€1.0m▼ 1.8%€0.9m▼ 16.6%€0.6m▼ 28.5%
Working capital€0.03m-€0.06m▲ 140%€0.08m▲ 28.0%€0.2m▲ 151%€0.3m▲ 23.8%
Staff (FTE)4.4-4.1▼ 6.8%6.3▲ 53.7%6.5▲ 3.2%6.8▲ 4.6%
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €822,382
Fixed assets
€20,152 ▼ 28.6%
Current assets
€802,230 ▼ 18.3%
Equity and liabilities €822,382
Equity
€208,330 ▲ 37.6%
Debt
€614,052 ▼ 28.5%
Debt's share of the balance-sheet total falls from 85.0% to 74.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€106,905▼
2022 · €177,647
Cash flow
€64,959▼
2022 · €110,917
Current ratio
1.47▲
2022 · 1.27
Debt to equity
2.95▼
2022 · 5.67
ROE
27.3%▼
2022 · 66.3%
ROA
6.9%▼
2022 · 9.9%
Interest coverage
5.00▼
2022 · 11.74
Debt ≤ 1 year
€544,215▼
2022 · €773,083
Income taxes
€36,162▼
2022 · €52,966
Staff costs
€546,468▲
2022 · €496,794
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €496,794 | €546,468 | ▲ 10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,562 | €9,485 | €13,084 | €10,481 | €8,086 | ▼ 22.9% |
| Other operating charges640/8 | - | - | - | €8,327 | €6,257 | ▼ 24.9% |
| Non-recurring operating charges66A | - | - | - | €151 | €10,899 | ▲ 72× |
| Gross operating margin9900 | €403,555 | €317,749 | €444,168 | €682,919 | €670,529 | ▼ 1.8% |
| Operating profit (loss)9901 | €39,555 | €61,967 | €37,761 | €167,166 | €98,819 | ▼ 40.9% |
| Financial income75/76B | - | - | - | €1,370 | €15,608 | ▲ 11× |
| Recurring financial income75 | €2,038 | €1,244 | €1,023 | €1,370 | €15,608 | ▲ 11× |
| Financial charges65/66B | - | - | - | €15,134 | €21,392 | ▲ 41.4% |
| Recurring financial charges65 | €15,760 | €12,413 | €12,218 | €15,134 | €21,392 | ▲ 41.4% |
| Profit (loss) for the period before taxes9903 | €25,833 | €50,798 | €26,566 | €153,402 | €93,035 | ▼ 39.4% |
| Income taxes67/77 | €16,023 | €26,369 | €14,121 | €52,966 | €36,162 | ▼ 31.7% |
| Profit (loss) for the period9904 | €9,810 | €24,429 | €12,445 | €100,436 | €56,873 | ▼ 43.4% |
| Profit (loss) for the period to be appropriated9905 | €9,810 | €24,429 | €12,445 | €100,436 | €56,873 | ▼ 43.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.7m | €1.1m | €1.1m | €1.0m | €0.8m | ▼ 18.6% |
| Fixed assets21/28 | €0.04m | €0.04m | €0.04m | €0.03m | €0.02m | ▼ 28.6% |
| Intangible fixed assets21 | - | €0.01m | €0.008m | €0.006m | €0.003m | ▼ 40.0% |
| Tangible fixed assets22/27 | €0.03m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 37.1% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.005m | ▼ 47.1% |
| Other tangible fixed assets26 | - | - | - | €0.006m | €0.005m | ▼ 21.4% |
| Financial fixed assets28 | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Current assets29/58 | €0.6m | €1.0m | €1.0m | €1.0m | €0.8m | ▼ 18.3% |
| Stocks and contracts in progress3 | €0.003m | €0.003m | €0.003m | €0.003m | - | - |
| Stocks30/36 | - | - | - | €0.003m | - | - |
| Amounts receivable within one year40/41 | €0.6m | €1.0m | €1.0m | €0.8m | €0.7m | ▼ 15.8% |
| Trade receivables40 | - | - | - | €0.8m | €0.6m | ▼ 17.1% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.05m | ▲ 2.9% |
| Cash at bank and in hand54/58 | €0.01m | €0.06m | €0.03m | €0.1m | €0.1m | ▼ 33.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | ▲ 1.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.7m | €1.1m | €1.1m | €1.0m | €0.8m | ▼ 18.6% |
| Equity10/15 | €0.01m | €0.04m | €0.05m | €0.2m | €0.2m | ▲ 37.6% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | - | - |
| Issued capital100 | - | - | - | €0.06m | - | - |
| Profit (loss) carried forward14 | -€0.05m | -€0.02m | -€0.01m | €0.09m | €0.1m | ▲ 63.2% |
| Amounts payable17/49 | €0.6m | €1.0m | €1.0m | €0.9m | €0.6m | ▼ 28.5% |
| Amounts payable within one year42/48 | €0.6m | €1.0m | €1.0m | €0.8m | €0.5m | ▼ 29.6% |
| Financial debts43 | - | - | - | €0.05m | €0.005m | ▼ 90.0% |
| Credit institutions430/8 | - | - | - | €0.05m | €0.005m | ▼ 90.0% |
| Trade debts44 | €0.4m | €0.8m | €0.8m | €0.6m | €0.4m | ▼ 32.6% |
| Suppliers440/4 | - | - | - | €0.6m | €0.4m | ▼ 32.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | ▼ 0.7% |
| Taxes450/3 | - | - | - | €0.08m | €0.06m | ▼ 19.9% |
| Remuneration and social security454/9 | - | - | - | €0.09m | €0.1m | ▲ 16.6% |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €0.07m | ▼ 18.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,810 | €24,429 | €12,445 | €100,436 | €56,873 | ▼ 43.4% |
| + Depreciation and write-downs630 | €10,562 | €9,485 | €13,084 | €10,481 | €8,086 | ▼ 22.9% |
| Operating cash flow (approximation) | €20,372 | €33,914 | €25,529 | €110,917 | €64,959 | ▼ 41.4% |
| Investment in fixed assets (approximation) | - | -€13,703 | -€11,511 | €414 | €0 | ▼ 100% |
| Change in cash | - | €53,086 | -€33,154 | €112,547 | -€47,542 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-04-2023 | full format | 21-02-2024 | 2024-00032345 |
| 30-04-2022 | full format | 14-11-2022 | 2022-20519277 |
| 30-04-2021 | full format | 30-11-2021 | 2021-78600186 |
| 30-04-2020 | full format | 13-11-2020 | 2020-70500198 |
| 30-04-2019 | full format | 23-10-2019 | 2019-71300240 |
| 30-04-2018 | full format | 29-10-2018 | 2018-70700039 |
| 30-04-2017 | full format | 27-10-2017 | 2017-68100439 |
| 30-04-2016 | full format | 31-10-2016 | 2016-66600284 |
| 30-04-2015 | full format | 30-10-2015 | 2015-65800329 |
| 30-04-2014 | full format | 11-09-2014 | 2014-58300240 |
Public contracts
2 awards · 2023 to 2024
EVOLUTION PLATEFORME BUREAUX VIRTUALISES CITRIX
HELMo accord cadre matériel informatique 23-27: Lot 2 - Serveurs et switch
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.