TIMELESS GUARDIANS
Open bankruptcyFinancials · financial year 2023, micro format
2023 annual accounts filed 30 days after the deadline Filed on 30 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00408609.
Annual accounts 2023 filed on 30-08-2024 PDF all 2 filings
Equity
-€29,976▼ 66.2%
2022 · -€18,032
Total assets
€16,667▲ 281%
2022 · €4,370
Net result
-€11,944▲ 37.2%
2022 · -€19,032
Working capital
-€27,654▼ 47.0%
2022 · -€18,815
Multi-year overview
2022 to 2023, 2 financial yearsOperating result
-€11,883
▲ 36.8%
2023
20222023
Net result
-€11,944
▲ 37.2%
2023
lowest quarter of the sector
20222023
Equity
-€29,976
▼ 66.2%
2023
lowest quarter of the sector
20222023
Total assets
€16,667
▲ 281%
2023
lowest quarter of the sector
20222023
Debt
€46,643
▲ 108%
2023
20222023
Working capital
-€27,654
▼ 47.0%
2023
lowest quarter of the sector
20222023
Solvency
-179.9%
2023
lowest quarter of the sector
20222023
Current ratio
0.13
2023
lowest quarter of the sector
20222023
Return on assets (ROA)
-71.7%
2023
lowest quarter of the sector
20222023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20222023
Operating result-€18,811--€11,883▲ 36.8%
Net result-€19,032below the sector's middle half--€11,944below the sector's middle half▲ 37.2%
Equity-€18,032below the sector's middle half--€29,976below the sector's middle half▼ 66.2%
Total assets€4,370below the sector's middle half-€16,667below the sector's middle half▲ 281%
Debt€22,402-€46,643▲ 108%
Working capital-€18,815below the sector's middle half--€27,654below the sector's middle half▼ 47.0%
Solvency-179.9%below the sector's middle half
Current ratio0.13below the sector's middle half
Return on assets (ROA)-71.7%below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Manufacture of computer, electronic and optical products (NACE 26). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2023 is a loss of €11,883, smaller than the loss of €18,811 in 2022.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €16,667
Fixed assets
€12,579 ▲ 16×
Current assets
€4,088 ▲ 14.0%
Equity and liabilities
Equity-€29,976
Debt€46,643
Equity is negative. Debt (€46,643) exceeds the balance-sheet total (€16,667).
Key figures and ratios
EBITDA
-€11,282▲
2022 · -€18,556
Cash flow
-€11,343▲
2022 · -€18,776
Interest coverage
-184.92▼
2022 · -84.11
Debt ≤ 1 year
€31,743▲
2022 · €22,402
Debt > 1 year
€14,900
Supplier credit
129 days
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 |
|---|---|---|
| Tangible fixed assets | €1,039 | €12,397 |
| Depreciation and write-downs of the year | €256 | €601 |
Source: notes to the 2022 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | Change |
|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €11,466 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €256 | €601 | ▲ 135% |
| Other operating charges640/8 | €157 | - | - |
| Gross operating margin9900 | -€18,399 | -€11,282 | ▲ 38.7% |
| Operating profit (loss)9901 | -€18,811 | -€11,883 | ▲ 36.8% |
| Financial charges65/66B | €221 | €61 | ▼ 72.3% |
| Recurring financial charges65 | €221 | €61 | ▼ 72.3% |
| Profit (loss) for the period before taxes9903 | -€19,032 | -€11,944 | ▲ 37.2% |
| Profit (loss) for the period9904 | -€19,032 | -€11,944 | ▲ 37.2% |
| Profit (loss) for the period to be appropriated9905 | -€19,032 | -€11,944 | ▲ 37.2% |
| Line | 2022 | 2023 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €4,370 | €16,667 | ▲ 281% |
| Fixed assets21/28 | €783 | €12,579 | ▲ 16× |
| Tangible fixed assets22/27 | €783 | €12,579 | ▲ 16× |
| Plant, machinery and equipment23 | - | €12,142 | - |
| Furniture and vehicles24 | €783 | €437 | ▼ 44.2% |
| Current assets29/58 | €3,587 | €4,088 | ▲ 14.0% |
| Amounts receivable within one year40/41 | €3,543 | €4,076 | ▲ 15.0% |
| Trade receivables40 | €405 | €64 | ▼ 84.3% |
| Other amounts receivable41 | €3,138 | €4,013 | ▲ 27.9% |
| Cash at bank and in hand54/58 | €44 | €12 | ▼ 73.0% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €4,370 | €16,667 | ▲ 281% |
| Equity10/15 | -€18,032 | -€29,976 | ▼ 66.2% |
| Contributions10/11 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | -€19,032 | -€30,976 | ▼ 62.8% |
| Amounts payable17/49 | €22,402 | €46,643 | ▲ 108% |
| Amounts payable after more than one year17 | - | €14,900 | - |
| Financial debts170/4 | - | €14,900 | - |
| Amounts payable within one year42/48 | €22,402 | €31,743 | ▲ 41.7% |
| Trade debts44 | €1,483 | €4,040 | ▲ 172% |
| Suppliers440/4 | €1,483 | €4,040 | ▲ 172% |
| Taxes, remuneration and social security45 | - | €0 | - |
| Other amounts payable47/48 | €20,919 | €27,703 | ▲ 32.4% |
| Line | 2022 | 2023 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€19,032 | -€11,944 | ▲ 37.2% |
| + Depreciation and write-downs630 | €256 | €601 | ▲ 135% |
| Operating cash flow (approximation) | -€18,776 | -€11,343 | ▲ 39.6% |
| Investment in fixed assets (approximation) | - | -€12,397 | - |
| Change in cash | - | -€32 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.