TIMBER
Open bankruptcyFinancials · financial year 2023, abbreviated format
Turnover
≈ €1.0m
Estimated: probably between €600,000 and €1.7m
Total assets
€717,828▲ 11.7%
2022 · €642,790
Net result
-€139,773
2022 · €8,714
Working capital
€196,803▼ 50.2%
2022 · €395,107
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result turns negative in 2023: a loss of €139,517 after €5,710 in 2022, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€139,517
2023
Net result-€139,773
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€717,828
2023
Equity€267,033
2023
Debt€450,795
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€196,803
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-19.5%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency37.2%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.53
2023
Average staff in full-time equivalents (FTE).
Staff (FTE)8.6
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 31, Manufacture of furniture: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€89,259-€228,858▲ 156%€22,793▼ 90.0%€80,850▲ 255%€5,710▼ 92.9%-€139,517
Net result€90,626-€147,779▲ 63.1%€19,167within the sector's middle half▼ 87.0%€61,978within the sector's middle half▲ 223%€8,714within the sector's middle half▼ 85.9%-€139,773below the sector's middle half
Equity€169,169-€316,947▲ 87.4%€336,114within the sector's middle half▲ 6.0%€398,092within the sector's middle half▲ 18.4%€406,806within the sector's middle half▲ 2.2%€267,033within the sector's middle half▼ 34.4%
Total assets€375,924-€458,894▲ 22.1%€512,050within the sector's middle half▲ 11.6%€525,474below the sector's middle half▲ 2.6%€642,790within the sector's middle half▲ 22.3%€717,828within the sector's middle half▲ 11.7%
Debt€206,756-€141,946▼ 31.3%€175,936▲ 23.9%€127,382▼ 27.6%€235,984▲ 85.3%€450,795▲ 91.0%
Working capital€55,797-€237,682▲ 326%€284,758within the sector's middle half▲ 19.8%€372,783within the sector's middle half▲ 30.9%€395,107within the sector's middle half▲ 6.0%€196,803within the sector's middle half▼ 50.2%
Solvency45.0%-69.1%▲ 24.1pp65.6%above the sector's middle half▼ 3.4pp75.8%above the sector's middle half▲ 10.1pp63.3%above the sector's middle half▼ 12.5pp37.2%within the sector's middle half▼ 26.1pp
Current ratio1.27-2.67▲ 1.402.87above the sector's middle half▲ 0.194.59above the sector's middle half▲ 1.723.14above the sector's middle half▼ 1.461.53within the sector's middle half▼ 1.61
Return on assets (ROA)24.1%-32.2%▲ 8.1pp3.7%within the sector's middle half▼ 28.5pp11.8%above the sector's middle half▲ 8.1pp1.4%within the sector's middle half▼ 10.4pp-19.5%below the sector's middle half▼ 20.8pp
Staff (FTE)10-10.2▲ 2.0%10.4within the sector's middle half▲ 2.0%8.9within the sector's middle half▼ 14.4%9.8within the sector's middle half▲ 10.1%8.6within the sector's middle half▼ 12.2%
above
within
below
the middle half of NACE 31, Manufacture of furniture: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin 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 €717,828
Fixed assets
€146,985 ▲ 135%
Current assets
€570,843 ▼ 1.6%
Equity and liabilities €717,828
Equity
€267,033 ▼ 34.4%
Debt
€450,795 ▲ 91.0%
Debt's share of the balance-sheet total rises from 36.7% to 62.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€123,782▼
2022 · €36,062
Cash flow
-€124,038▼
2022 · €39,066
Quick ratio
1.26▼
2022 · 2.32
Debt to equity
1.69▲
2022 · 0.58
ROE
-52.3%▼
2022 · 2.1%
Interest coverage
-12.30▼
2022 · 10.17
Debt ≤ 1 year
€374,040▲
2022 · €185,059
Debt > 1 year
€76,755▲
2022 · €50,000
Staff costs
€539,394▼
2022 · €546,693
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 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,500 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €486,908 | €546,693 | €539,394 | ▼ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €99,802 | €34,106 | €32,431 | €25,866 | €30,352 | €15,735 | ▼ 48.2% |
| Other operating charges640/8 | - | - | - | €12,152 | €10,612 | €8,031 | ▼ 24.3% |
| Non-recurring operating charges66A | - | - | - | - | - | -€413 | - |
| Gross operating margin9900 | €698,560 | €799,181 | €552,565 | €605,777 | €593,367 | €423,230 | ▼ 28.7% |
| Operating profit (loss)9901 | €89,259 | €228,858 | €22,793 | €80,850 | €5,710 | -€139,517 | - |
| Financial income75/76B | - | - | - | €6,524 | €8,531 | €9,809 | ▲ 15.0% |
| Recurring financial income75 | €4,910 | €7,636 | €8,986 | €6,524 | €8,531 | €9,809 | ▲ 15.0% |
| Financial charges65/66B | - | - | - | €2,327 | €3,546 | €10,065 | ▲ 184% |
| Recurring financial charges65 | €3,074 | €2,126 | €2,073 | €2,327 | €3,546 | €10,065 | ▲ 184% |
| Profit (loss) for the period before taxes9903 | €91,094 | €234,367 | €29,706 | €85,048 | €10,695 | -€139,773 | - |
| Income taxes67/77 | €469 | €86,589 | €10,539 | €23,070 | €1,981 | - | - |
| Profit (loss) for the period9904 | €90,626 | €147,779 | €19,167 | €61,978 | €8,714 | -€139,773 | - |
| Profit (loss) for the period to be appropriated9905 | €90,626 | €147,779 | €19,167 | €61,978 | €8,714 | -€139,773 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €375,924 | €458,894 | €512,050 | €525,474 | €642,790 | €717,828 | ▲ 11.7% |
| Fixed assets21/28 | €113,372 | €79,265 | €74,734 | €48,869 | €62,624 | €146,985 | ▲ 135% |
| Tangible fixed assets22/27 | €113,372 | €79,265 | €46,834 | €20,969 | €34,724 | €119,085 | ▲ 243% |
| Land and buildings22 | - | - | - | €13,808 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | - | €9,592 | €6,537 | ▼ 31.8% |
| Furniture and vehicles24 | - | - | - | €7,161 | €19,007 | €10,357 | ▼ 45.5% |
| Leasing and similar rights25 | - | - | - | - | - | €96,682 | - |
| Other tangible fixed assets26 | - | - | - | - | €6,125 | €5,509 | ▼ 10.1% |
| Financial fixed assets28 | - | - | €27,900 | €27,900 | €27,900 | €27,900 | = |
| Current assets29/58 | €262,553 | €379,628 | €437,315 | €476,605 | €580,166 | €570,843 | ▼ 1.6% |
| Stocks and contracts in progress3 | €78,337 | €82,285 | €83,306 | €169,419 | €150,068 | €99,226 | ▼ 33.9% |
| Stocks30/36 | - | - | - | €86,419 | €98,068 | €64,226 | ▼ 34.5% |
| Contracts in progress37 | - | - | - | €83,000 | €52,000 | €35,000 | ▼ 32.7% |
| Amounts receivable within one year40/41 | €105,745 | €54,157 | €149,939 | €44,754 | €373,249 | €447,050 | ▲ 19.8% |
| Trade receivables40 | - | - | - | €39,955 | €161,253 | €85,084 | ▼ 47.2% |
| Other amounts receivable41 | - | - | - | €4,800 | €211,996 | €361,966 | ▲ 70.7% |
| Current investments50/53 | €721 | €721 | €720 | €720 | €720 | €500 | ▼ 30.6% |
| Cash at bank and in hand54/58 | €11,196 | €179,467 | €144,359 | €255,018 | €50,239 | €11,565 | ▼ 77.0% |
| Deferred charges and accrued income490/1 | - | - | - | €6,694 | €5,890 | €12,502 | ▲ 112% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €375,924 | €458,894 | €512,050 | €525,474 | €642,790 | €717,828 | ▲ 11.7% |
| Equity10/15 | €169,169 | €316,947 | €336,114 | €398,092 | €406,806 | €267,033 | ▼ 34.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €107,169 | €254,947 | €274,114 | €336,092 | €344,806 | €205,033 | ▼ 40.5% |
| Non-distributable reserves130/1 | - | - | - | €6,949 | €6,949 | €6,949 | = |
| Legal reserve130 | - | - | - | €6,949 | €6,949 | €6,949 | = |
| Distributable reserves133 | - | - | - | €329,143 | €337,857 | €198,084 | ▼ 41.4% |
| Amounts payable17/49 | €206,756 | €141,946 | €175,936 | €127,382 | €235,984 | €450,795 | ▲ 91.0% |
| Amounts payable after more than one year17 | - | - | - | - | €50,000 | €76,755 | ▲ 53.5% |
| Financial debts170/4 | - | - | - | - | €50,000 | €76,755 | ▲ 53.5% |
| Amounts payable within one year42/48 | €206,756 | €141,946 | €152,557 | €103,822 | €185,059 | €374,040 | ▲ 102% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €17,488 | - |
| Financial debts43 | - | - | - | - | €12,188 | €155,785 | ▲ 13× |
| Credit institutions430/8 | - | - | - | - | €12,188 | €155,785 | ▲ 13× |
| Trade debts44 | €80,306 | €55,101 | €56,663 | €39,411 | €79,272 | €133,546 | ▲ 68.5% |
| Suppliers440/4 | - | - | - | €39,411 | €79,272 | €133,546 | ▲ 68.5% |
| Taxes, remuneration and social security45 | - | - | - | €62,354 | €93,599 | €67,221 | ▼ 28.2% |
| Taxes450/3 | - | - | - | €18,522 | €19,304 | €6,587 | ▼ 65.9% |
| Remuneration and social security454/9 | - | - | - | €43,832 | €74,295 | €60,634 | ▼ 18.4% |
| Other amounts payable47/48 | - | - | - | €2,057 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €23,559 | €925 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,626 | €147,779 | €19,167 | €61,978 | €8,714 | -€139,773 | - |
| + Depreciation and write-downs630 | €99,802 | €34,106 | €32,431 | €25,866 | €30,352 | €15,735 | ▼ 48.2% |
| Operating cash flow (approximation) | €190,427 | €181,885 | €51,598 | €87,844 | €39,066 | -€124,038 | - |
| Investment in fixed assets (approximation) | - | €0 | -€27,900 | €0 | -€44,107 | -€100,096 | ▼ 127% |
| Change in cash | - | €168,271 | -€35,107 | €110,658 | -€204,779 | -€38,674 | ▲ 81.1% |
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 39 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | abbreviated format | 28-07-2024 | 2024-00305208 |
| 31-12-2022 | abbreviated format | 12-05-2023 | 2023-00086110 |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20115629 |
| 31-12-2020 | abbreviated format | 29-06-2021 | 2021-29100346 |
| 31-12-2019 | abbreviated format | 29-06-2020 | 2020-23600071 |
| 31-12-2018 | abbreviated format | 02-07-2019 | 2019-28100317 |
| 31-12-2017 | abbreviated format | 04-07-2018 | 2018-29300265 |
| 31-12-2016 | abbreviated format | 11-07-2017 | 2017-30900550 |
| 31-12-2015 | abbreviated format | 25-08-2016 | 2016-47700042 |
| 31-12-2014 | abbreviated format | 22-06-2015 | 2015-20300202 |
Similar companies · same sector, comparable size
Allinterno
BE 0536.717.826
Maldegem · equity €263,099
Galeyn Decor
BE 0405.259.763
Deinze · equity €271,573
RENAISSANCE
BE 0427.083.773
Ledegem · equity €272,184
A&W interieur
BE 0665.919.450
Hoegaarden · equity €272,184
MOBITEX
BE 0459.634.696
Flémalle · equity €272,827
Of the 1,457 active companies whose main activity is manufacture of dining room, living room, bedroom and bathroom furniture (NACE 31004), figures are known for 633. 471 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2024 to 2025 · 3 entries · €8,377 awarded · €8,377 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €1,792 | €1,792 |
| 2024 | 1 | €6,585 | €6,585 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.