THEVALUECHAIN SOLUTIONS
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 5 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 10-07-2023, 21 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
21 d early
2021
1 d late
2020
8 d early
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 7 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2022, abbreviated schema
Equity
€4.7m▲ 72.3%
2021 · €2.7m
Total assets
€16.1m▲ 10.9%
2021 · €14.5m
Net result
€2.0m
2021 · -€229,391
Working capital
-€9.2m▼ 10.4%
2021 · -€8.3m
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
Line20182019202020212022
Operating result€245,194-€117,321▼ 52.2%€49,691▼ 57.6%€76,811▲ 54.6%€2.0m▲ 2,550%
Net result€11,393--€372,966-€276,881▲ 25.8%-€229,391▲ 17.2%€2.0m
Equity€3.6m-€3.2m▼ 10.3%€3.0m▼ 8.5%€2.7m▼ 7.7%€4.7m▲ 72.3%
Total assets€13.3m-€16.5m▲ 24.0%€16.1m▼ 2.5%€14.5m▼ 9.7%€16.1m▲ 10.9%
Debt€9.7m-€13.3m▲ 36.9%€13.1m▼ 1.0%€11.8m▼ 10.1%€11.4m▼ 3.4%
Working capital-€482,553--€4.6m▼ 852%-€5.2m▼ 12.8%-€8.3m▼ 60.4%-€9.2m▼ 10.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2020 the operating result has climbed two years in a row; 2022 is 2,550% above 2021 and is the highest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €16.1m
Fixed assets
€16.1m ▲ 14.5%
Current assets
€19,774 ▼ 95.8%
Equity and liabilities €16.1m
Equity
€4.7m ▲ 72.3%
Debt
€11.4m ▼ 3.4%
Debt's share of the balance-sheet total falls from 81.1% to 70.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.0m▲
2021 · €755,804
Cash flow
€2.0m▲
2021 · €449,602
Current ratio
0.00▼
2021 · 0.05
Debt to equity
2.41▼
2021 · 4.30
ROE
42.0%▲
2021 · -8.4%
ROA
12.3%▲
2021 · -1.6%
Interest coverage
38.66▲
2021 · 5.09
Debt ≤ 1 year
€9.2m▲
2021 · €8.8m
Debt > 1 year
€2.2m▼
2021 · €3.0m
Income taxes
€0▼
2021 · €157,601
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2.0m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €678,993 | €678,993 | €678,993 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €1,317 | €1,296 | ▼ 1.6% |
| Gross operating margin9900 | €245,921 | €796,831 | €729,800 | €757,121 | €2.0m | ▲ 169% |
| Operating profit (loss)9901 | €245,194 | €117,321 | €49,691 | €76,811 | €2.0m | ▲ 2,550% |
| Financial charges65/66B | - | - | - | €148,601 | €52,653 | ▼ 64.6% |
| Recurring financial charges65 | €228,557 | €349,053 | €186,332 | €148,601 | €52,653 | ▼ 64.6% |
| Profit (loss) for the period before taxes9903 | €16,636 | -€231,732 | -€136,641 | -€71,790 | €2.0m | ▲ 2,862% |
| Income taxes67/77 | €5,244 | €141,234 | €140,240 | €157,601 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €11,393 | -€372,966 | -€276,881 | -€229,391 | €2.0m | ▲ 964% |
| Profit (loss) for the period to be appropriated9905 | €11,393 | -€372,966 | -€276,881 | -€229,391 | €2.0m | ▲ 964% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.3m | €16.5m | €16.1m | €14.5m | €16.1m | ▲ 10.9% |
| Fixed assets21/28 | €12.0m | €15.4m | €14.7m | €14.1m | €16.1m | ▲ 14.5% |
| Intangible fixed assets21 | - | €3.4m | €2.7m | €2.0m | €0 | ▼ 100% |
| Financial fixed assets28 | €12.0m | €12.0m | €12.0m | €12.0m | €16.1m | ▲ 33.9% |
| Current assets29/58 | €1.3m | €1.1m | €1.4m | €475,563 | €19,774 | ▼ 95.8% |
| Amounts receivable within one year40/41 | €322,110 | €643,069 | €652,491 | €304,583 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €304,583 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €458,047 | €462,908 | €703,465 | €170,980 | €19,774 | ▼ 88.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.3m | €16.5m | €16.1m | €14.5m | €16.1m | ▲ 10.9% |
| Equity10/15 | €3.6m | €3.2m | €3.0m | €2.7m | €4.7m | ▲ 72.3% |
| Contributions10/11 | €3.6m | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Capital10 | - | - | - | €3.6m | €3.6m | = |
| Issued capital100 | - | - | - | €3.6m | €3.6m | = |
| Reserves13 | €11,393 | €11,393 | €11,393 | €11,393 | €361,000 | ▲ 3,069% |
| Non-distributable reserves130/1 | - | - | - | €11,393 | €361,000 | ▲ 3,069% |
| Legal reserve130 | - | - | - | €11,393 | €361,000 | ▲ 3,069% |
| Profit (loss) carried forward14 | - | -€372,966 | -€649,847 | -€879,238 | €754,185 | ▲ 186% |
| Amounts payable17/49 | €9.7m | €13.3m | €13.1m | €11.8m | €11.4m | ▼ 3.4% |
| Amounts payable after more than one year17 | €7.7m | €7.4m | €6.5m | €3.0m | €2.2m | ▼ 26.9% |
| Financial debts170/4 | - | - | - | €3.0m | €2.2m | ▼ 26.9% |
| Amounts payable within one year42/48 | €1.8m | €5.7m | €6.5m | €8.8m | €9.2m | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €964,621 | €876,155 | ▼ 9.2% |
| Trade debts44 | €815,562 | €491,912 | €280,319 | €261,514 | €58,469 | ▼ 77.6% |
| Suppliers440/4 | - | - | - | €261,514 | €58,469 | ▼ 77.6% |
| Taxes, remuneration and social security45 | - | - | - | €71,125 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €71,125 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €7.5m | €8.3m | ▲ 10.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,393 | -€372,966 | -€276,881 | -€229,391 | €2.0m | ▲ 964% |
| + Depreciation and write-downs630 | - | €678,993 | €678,993 | €678,993 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €11,393 | €306,027 | €402,112 | €449,602 | €2.0m | ▲ 341% |
| Investment in fixed assets (approximation) | - | -€4.1m | -€22,821 | €0 | -€2.0m | - |
| Change in cash | - | €4,861 | €240,557 | -€532,485 | -€151,206 | ▲ 71.6% |
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
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €2.0m
Net result €2.0m after 3 loss-making years.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet -€372,966
Net result drops to -€372,966, the lowest in the series.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2022 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2022 annual accounts of THEVALUECHAIN SOLUTIONS 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.