TIMELESS DEVELOPERS
Open bankruptcyFinancials · financial year 2022, abbreviated format
2022 annual accounts filed late (60 days) Filed on 29 September 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00458623.
Equity
€36,311▼ 5.9%
2021 · €38,580
Total assets
€5.8m▲ 4.3%
2021 · €5.5m
Net result
-€2,269
2021 · €549
Working capital
€23,966▼ 4.3%
2021 · €25,050
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result has fallen two years in a row; 2022 is 22% below 2021 and is 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€0.03m
2022
Net result-€0.002m
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€5.8m
2022
Equity€0.04m
2022
Debt€5.7m
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.02m
2022
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)0.0%
2022
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency0.6%
2022
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.00
2022
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€0.1m-€0.3m▲ 190%€0.8m▲ 159%€0.03m▼ 95.5%€0.03m▼ 21.7%
Net result€0.1m-€0.2m▲ 42.2%€0.7mabove the sector's middle half▲ 254%€0.001mwithin the sector's middle half▼ 99.9%-€0.002mwithin the sector's middle half
Equity-€0.8m--€0.6m▲ 23.0%€0.04mbelow the sector's middle half€0.04mbelow the sector's middle half▲ 1.4%€0.04mbelow the sector's middle half▼ 5.9%
Total assets€0.8m-€0.5m▼ 37.5%€3.0mwithin the sector's middle half▲ 502%€5.5mabove the sector's middle half▲ 85.8%€5.8mabove the sector's middle half▲ 4.3%
Debt€1.6m-€1.1m▼ 30.1%€2.9m▲ 159%€5.5m▲ 86.8%€5.7m▲ 4.3%
Working capital€0.7m--€0.7m€0.02mwithin the sector's middle half€0.03mwithin the sector's middle half▲ 13.8%€0.02mwithin the sector's middle half▼ 4.3%
Solvency-105.5%--129.9%▼ 24.3pp1.3%below the sector's middle half▲ 131.2pp0.7%below the sector's middle half▼ 0.6pp0.6%below the sector's middle half▼ 0.1pp
Current ratio19.65-0.42▼ 19.231.01within the sector's middle half▲ 0.581.00within the sector's middle half=1.00within the sector's middle half=
Return on assets (ROA)17.1%-38.9%▲ 21.8pp22.9%above the sector's middle half▼ 16.0pp0.0%within the sector's middle half▼ 22.8pp0.0%within the sector's middle half=
above
within
below
the middle half of NACE 68, Real estate activities: 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.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €5.8m
Fixed assets
€12,345 ▼ 8.8%
Current assets
€5.7m ▲ 4.3%
Equity and liabilities €5.8m
Equity
€36,311 ▼ 5.9%
Debt
€5.7m ▲ 4.3%
Debt's share of the balance-sheet total rises from 99.3% to 99.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€28,472▼
2021 · €37,322
Cash flow
-€1,085▼
2021 · €3,039
Quick ratio
0.32▼
2021 · 0.59
ROE
-6.2%▼
2021 · 1.4%
Interest coverage
0.91▼
2021 · 1.12
Debt ≤ 1 year
€5.7m▲
2021 · €5.5m
Income taxes
€2,557▼
2021 · €2,694
A ratio outside any meaningful range has been withheld (balance sheet total €5.8m, equity €36,311).
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €640 | €2,202 | €2,048 | €2,489 | €1,184 | ▼ 52.4% |
| Other operating charges640/8 | - | - | - | €42,322 | €24,061 | ▼ 43.1% |
| Gross operating margin9900 | €119,579 | €302,291 | €777,195 | €79,643 | €52,534 | ▼ 34.0% |
| Operating profit (loss)9901 | €102,799 | €298,476 | €772,856 | €34,832 | €27,288 | ▼ 21.7% |
| Financial income75/76B | - | - | - | €1,865 | €4,206 | ▲ 125% |
| Recurring financial income75 | €125,415 | €619 | €1,511 | €1,865 | €4,206 | ▲ 125% |
| Financial charges65/66B | - | - | - | €33,454 | €31,206 | ▼ 6.7% |
| Recurring financial charges65 | €93,161 | €107,029 | €95,049 | €33,454 | €31,206 | ▼ 6.7% |
| Profit (loss) for the period before taxes9903 | €135,053 | €192,065 | €679,318 | €3,243 | €288 | ▼ 91.1% |
| Income taxes67/77 | - | - | - | €2,694 | €2,557 | ▼ 5.1% |
| Profit (loss) for the period9904 | €135,053 | €192,065 | €679,318 | €549 | -€2,269 | - |
| Profit (loss) for the period to be appropriated9905 | €135,053 | €192,065 | €679,318 | €549 | -€2,269 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.8m | €0.5m | €3.0m | €5.5m | €5.8m | ▲ 4.3% |
| Fixed assets21/28 | €0.004m | €0.01m | €0.02m | €0.01m | €0.01m | ▼ 8.8% |
| Tangible fixed assets22/27 | €219 | €0.009m | €0.01m | €0.01m | €0.009m | ▼ 11.8% |
| Plant, machinery and equipment23 | - | - | - | €0.007m | €0.006m | ▼ 17.7% |
| Other tangible fixed assets26 | - | - | - | €0.003m | €0.003m | = |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €0.8m | €0.5m | €3.0m | €5.5m | €5.7m | ▲ 4.3% |
| Stocks and contracts in progress3 | €0.4m | €0.04m | €1.4m | €2.3m | €3.9m | ▲ 72.5% |
| Contracts in progress37 | - | - | - | €2.3m | €3.9m | ▲ 72.5% |
| Amounts receivable within one year40/41 | €0.01m | €0.09m | €1.5m | €3.2m | €1.8m | ▼ 43.9% |
| Trade receivables40 | - | - | - | €3.1m | €1.7m | ▼ 46.4% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | ▲ 37.4% |
| Cash at bank and in hand54/58 | €0.001m | €0.004m | €0.1m | €142 | €0.005m | ▲ 36× |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.004m | ▲ 124% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.8m | €0.5m | €3.0m | €5.5m | €5.8m | ▲ 4.3% |
| Equity10/15 | -€0.8m | -€0.6m | €0.04m | €0.04m | €0.04m | ▼ 5.9% |
| Contributions10/11 | €0.05m | €0.05m | - | €0.05m | €0.05m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.005m | €0.005m | = |
| Reserves not available under the articles1311 | - | - | - | €0.005m | €0.005m | = |
| Tax-exempt reserves132 | - | - | - | €0.05m | €0.05m | = |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€1.1m | -€0.9m | -€0.2m | -€0.2m | -€0.2m | ▼ 1.1% |
| Amounts payable17/49 | €1.6m | €1.1m | €2.9m | €5.5m | €5.7m | ▲ 4.3% |
| Amounts payable after more than one year17 | €1.6m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.04m | €1.1m | €2.9m | €5.5m | €5.7m | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2.5m | €3.5m | ▲ 43.8% |
| Trade debts44 | €0.04m | €0.06m | €0.1m | €2.9m | €2.2m | ▼ 24.7% |
| Suppliers440/4 | - | - | - | €2.9m | €2.2m | ▼ 24.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.001m | ▼ 99.0% |
| Taxes450/3 | - | - | - | €0.1m | €0.001m | ▼ 99.0% |
| Other amounts payable47/48 | - | - | - | - | €0.007m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135,053 | €192,065 | €679,318 | €549 | -€2,269 | - |
| + Depreciation and write-downs630 | €640 | €2,202 | €2,048 | €2,489 | €1,184 | ▼ 52.4% |
| Operating cash flow (approximation) | €135,692 | €194,267 | €681,366 | €3,039 | -€1,085 | - |
| Investment in fixed assets (approximation) | - | -€10,692 | -€5,858 | €0 | €0 | - |
| Change in cash | - | €3,275 | €96,468 | -€100,821 | €5,003 | - |
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 46 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | abbreviated format | 29-09-2023 | 2023-00458623 |
| 31-12-2021 | abbreviated format | 29-09-2022 | 2022-20439749 |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-59800387 |
| 31-12-2019 | abbreviated format | 17-11-2020 | 2020-70900162 |
| 31-12-2018 | abbreviated format | 29-07-2019 | 2019-39500155 |
| 31-12-2017 | abbreviated format | 16-07-2018 | 2018-33700372 |
| 31-12-2016 | abbreviated format | 21-09-2017 | 2017-61800233 |
| 31-12-2015 | abbreviated format | 22-06-2016 | 2016-20700440 |
| 31-12-2014 | abbreviated format | 05-06-2015 | 2015-15300031 |
| 31-12-2013 | abbreviated format | 05-06-2014 | 2014-15700271 |
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Of the 11,696 active companies whose main activity is real estate agency activities (NACE 68310), figures are known for 6,933. 4,627 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 · 1 entry · €161,404 awarded · €161,404 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.