VALUE CARE
Open bankruptcyFinancials · financial year 2021, micro format
2021 annual accounts filed 194 days after the deadline Filed on 10 February 2023, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2023-00026459.
Annual accounts 2021 filed on 10-02-2023 PDF all 7 filings
Equity
-€1.3m
2020 · €201,714
Net result
-€1.5m
2020 · €76,972
Total assets
€955,887▼ 44.2%
2020 · €1.7m
Solvency
-131.4%▼ 143.2pp
2020 · 11.8%
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
-€461,319
2021
20182021
Net result
-€1.5m
2021
lowest quarter of the sector
20182021
Equity
-€1.3m
2021
lowest quarter of the sector
20182021
Total assets
€955,887
▼ 44.2%
2021
highest quarter of the sector
20182021
Debt
€2.2m
▲ 46.7%
2021
20182021
Working capital
-€731,278
▼ 93.8%
2021
lowest quarter of the sector
20182021
Solvency
-131.4%
▼ 143.2pp
2021
lowest quarter of the sector
20182021
Current ratio
0.56
▼ 0.09
2021
lowest quarter of the sector
20182021
Return on assets (ROA)
-152.5%
▼ 157.0pp
2021
lowest quarter of the sector
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result€0.1m--€0.04m€0.1m-€0.5m
Net result€0.07m--€0.07m€0.08mabove the sector's middle half-€1.5mbelow the sector's middle half
Equity€0.2m-€0.1m▼ 34.4%€0.2mwithin the sector's middle half▲ 61.7%-€1.3mbelow the sector's middle half
Total assets€1.1m-€1.1m▲ 5.5%€1.7mabove the sector's middle half▲ 49.9%€1.0mabove the sector's middle half▼ 44.2%
Debt€0.9m-€1.0m▲ 14.2%€1.5m▲ 49.0%€2.2m▲ 46.7%
Working capital-€0.2m--€0.4m▼ 64.6%-€0.4mbelow the sector's middle half▼ 2.7%-€0.7mbelow the sector's middle half▼ 93.8%
Solvency17.6%-10.9%▼ 6.6pp11.8%below the sector's middle half▲ 0.9pp-131.4%below the sector's middle half▼ 143.2pp
Current ratio0.27-0.28▲ 0.010.65within the sector's middle half▲ 0.370.56below the sector's middle half▼ 0.09
Return on assets (ROA)6.5%--5.7%▼ 12.3pp4.5%within the sector's middle half▲ 10.2pp-152.5%below the sector's middle half▼ 157.0pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 2021 is a loss of €461,319, after a profit of €95,740 in 2020. It is the lowest result since 2018.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €955,887
Fixed assets
€7,642 ▼ 99.2%
Current assets
€948,245 ▲ 33.1%
Equity and liabilities
Equity-€1.3m
Debt€2.2m
Equity is negative. Debt (€2.2m) exceeds the balance-sheet total (€955,887).
Key figures and ratios
Debt ≤ 1 year
€1.7m▲
2020 · €1.1m
Debt > 1 year
€481,094▲
2020 · €371,094
Income taxes
€149▼
2020 · €6,228
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €7,160 |
| Depreciation and write-downs of the year | €318 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.006m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.001m | - | - | €318 | - |
| Other operating charges640/8 | - | - | - | €0.003m | - |
| Non-recurring operating charges66A | - | - | - | €0 | - |
| Gross operating margin9900 | €0.2m | €0.2m | €0.1m | -€0.5m | - |
| Operating profit (loss)9901 | €0.1m | -€0.04m | €0.1m | -€0.5m | - |
| Financial income75/76B | - | - | - | €0.005m | - |
| Recurring financial income75 | €447 | €0.001m | €0.01m | €0.005m | ▼ 53.9% |
| Financial charges65/66B | - | - | - | €1.0m | - |
| Recurring financial charges65 | €0.03m | €0.02m | €0.02m | €0.001m | ▼ 95.3% |
| Non-recurring financial charges66B | - | - | - | €1.0m | - |
| Profit (loss) for the period before taxes9903 | €0.09m | -€0.06m | €0.08m | -€1.5m | - |
| Income taxes67/77 | €0.02m | €0.004m | €0.006m | €149 | ▼ 97.6% |
| Profit (loss) for the period9904 | €0.07m | -€0.07m | €0.08m | -€1.5m | - |
| Profit (loss) for the period to be appropriated9905 | €0.07m | -€0.07m | €0.08m | -€1.5m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.1m | €1.1m | €1.7m | €1.0m | ▼ 44.2% |
| Fixed assets21/28 | €1.0m | €1.0m | €1.0m | €0.008m | ▼ 99.2% |
| Tangible fixed assets22/27 | - | - | - | €0.007m | - |
| Furniture and vehicles24 | - | - | - | €0.007m | - |
| Financial fixed assets28 | €1.0m | €1.0m | €1.0m | €0.001m | ▼ 99.9% |
| Current assets29/58 | €0.08m | €0.1m | €0.7m | €0.9m | ▲ 33.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.03m | - |
| Other amounts receivable291 | - | - | - | €0.03m | - |
| Amounts receivable within one year40/41 | €0.08m | €0.1m | €0.7m | €0.9m | ▲ 28.4% |
| Trade receivables40 | - | - | - | €0.6m | - |
| Other amounts receivable41 | - | - | - | €0.4m | - |
| Cash at bank and in hand54/58 | €0.002m | €0.001m | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.7m | €1.0m | ▼ 44.2% |
| Equity10/15 | €0.2m | €0.1m | €0.2m | -€1.3m | - |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | - |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.002m | ▼ 99.0% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | - |
| Distributable reserves133 | - | - | - | €0 | - |
| Profit (loss) carried forward14 | - | -€0.07m | - | -€1.3m | - |
| Provisions and deferred taxes16 | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.01m | - |
| Other liabilities and charges164/5 | - | - | - | €0.01m | - |
| Amounts payable17/49 | €0.9m | €1.0m | €1.5m | €2.2m | ▲ 46.7% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.4m | €0.5m | ▲ 29.6% |
| Financial debts170/4 | - | - | - | €0.5m | - |
| Amounts payable within one year42/48 | €0.3m | €0.5m | €1.1m | €1.7m | ▲ 54.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | - |
| Financial debts43 | - | - | - | €0.006m | - |
| Credit institutions430/8 | - | - | - | €0.006m | - |
| Trade debts44 | €0.04m | €0.2m | €0.3m | €0.8m | ▲ 183% |
| Suppliers440/4 | - | - | - | €0.8m | - |
| Advances received on contracts in progress46 | - | - | - | €0.5m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | - |
| Taxes450/3 | - | - | - | €0.06m | - |
| Other amounts payable47/48 | - | - | - | €0.1m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.04m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.07m | -€0.07m | €0.08m | -€1.5m | - |
| + Depreciation and write-downs630 | €0.001m | - | - | €318 | - |
| Operating cash flow (approximation) | €0.07m | -€0.07m | €0.08m | -€1.5m | - |
| Investment in fixed assets (approximation) | - | €0 | -€0.001m | €1.0m | - |
| Change in cash | - | -€0.001m | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | micro format | 10-02-2023 | 2023-00026459 | |
| 31-12-2020 | micro format | 23-03-2022 | 2022-08500380 | |
| 31-12-2019 | micro format | 22-01-2021 | 2021-01500233 | |
| 31-12-2018 | micro format | 18-06-2020 | 2020-17900340 | |
| 31-12-2017 | abbreviated format | 20-12-2018 | 2018-75400495 | |
| 31-12-2016 | abbreviated format | 29-09-2017 | 2017-65800197 | |
| 31-12-2015 | abbreviated format | 30-11-2016 | 2016-69000057 |