VANELO
InactiveFinancials · financial year 2014, full format
Annual accounts 2014 filed on 18-12-2014 PDF all 17 filings
Turnover
€87.0m▲ 26.4%
2013 · €68.8m
EBIT margin
9.1%▲ 1.5pp
2013 · 7.7%
Net result
€5.3m▲ 42.3%
2013 · €3.8m
Working capital
€14.6m▲ 72.4%
2013 · €8.5m
Multi-year overview
2010 to 2014, 4 financial yearsTurnover
€87.0m
▲ 26.4%
2014
20102014
Operating result
€8.0m
▲ 50.3%
2014
20102014
Net result
€5.3m
▲ 42.3%
2014
20102014
EBIT margin
9.1%
▲ 1.5pp
2014
20102014
Equity
€42.2m
▲ 14.5%
2014
20102014
Total assets
€59.3m
▼ 0.2%
2014
20102014
Debt
€16.7m
▼ 21.6%
2014
20102014
Working capital
€14.6m
▲ 72.4%
2014
20102014
Staff (FTE)
166.8
▲ 4.0%
2014
20102014
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2010201220132014
Turnover€58.1m-€79.4m-€68.8m▼ 13.3%€87.0m▲ 26.4%
Operating result-€0.6m-€3.1m-€5.3m▲ 71.2%€8.0m▲ 50.3%
Net result-€0.3m-€1.7m-€3.8m▲ 122%€5.3m▲ 42.3%
EBIT margin-1.0%-3.9%-7.7%▲ 3.8pp9.1%▲ 1.5pp
Equity€31.5m-€33.1m-€36.9m▲ 11.3%€42.2m▲ 14.5%
Total assets€46.5m-€51.1m-€59.4m▲ 16.4%€59.3m▼ 0.2%
Debt€12.2m-€16.0m-€21.3m▲ 33.4%€16.7m▼ 21.6%
Working capital-€0.009m-€3.7m-€8.5m▲ 127%€14.6m▲ 72.4%
Staff (FTE)170-164.4-160.4▼ 2.4%166.8▲ 4.0%
The operating result for 2014 is 50% higher than in 2013 and the highest since 2010. It is the second rise in a row.
Large changes and their cause
- 2013 Net result +122% on 2012. The previous financial year ran 15 months, this one 12.
Balance-sheet composition
2014 in colour, 2013 as the grey bar beneath
Assets €59.3m
Fixed assets
€28.1m ▼ 5.3%
Current assets
€31.2m ▲ 5.0%
Equity and liabilities €59.3m
Equity
€42.2m ▲ 14.5%
Provisions
€361,957 ▼ 69.8%
Debt
€16.7m ▼ 21.6%
Debt's share of the balance-sheet total falls from 35.9% to 28.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€11.9m▲
2013 · €8.2m
Cash flow
€9.2m▲
2013 · €6.7m
Current ratio
1.88▲
2013 · 1.40
Quick ratio
1.79▲
2013 · 1.33
ROE
12.7%▲
2013 · 10.2%
ROA
9.0%▲
2013 · 6.3%
Interest coverage
34.13▼
2013 · 40.76
Debt ≤ 1 year
€16.7m▼
2013 · €21.3m
Income taxes
€3.6m▲
2013 · €2.7m
Customer credit
123 days▼
2013 · 141 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2010 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|
| Turnover70 | €58.1m | €79.4m | €68.8m | €87.0m | ▲ 26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.9m | €3.7m | €2.9m | €3.9m | ▲ 32.4% |
| Operating profit (loss)9901 | -€0.6m | €3.1m | €5.3m | €8.0m | ▲ 50.3% |
| Recurring financial income75 | €0.6m | €0.1m | €0.6m | €0.5m | ▼ 19.4% |
| Recurring financial charges65 | €0.5m | €0.6m | €0.2m | €0.4m | ▲ 56.7% |
| Debt charges650 | €0.2m | €0.4m | €0.2m | €0.3m | ▲ 71.9% |
| Profit (loss) for the period before taxes9903 | -€0.6m | €2.7m | €5.7m | €8.1m | ▲ 42.2% |
| Income taxes67/77 | €0.5m | €1.9m | €2.7m | €3.6m | ▲ 35.6% |
| Profit (loss) for the period9904 | -€0.3m | €1.7m | €3.8m | €5.3m | ▲ 42.3% |
| Profit (loss) for the period to be appropriated9905 | €1.1m | €3.5m | €5.1m | €7.0m | ▲ 35.8% |
| Line | 2010 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €46.5m | €51.1m | €59.4m | €59.3m | ▼ 0.2% |
| Fixed assets21/28 | €34.3m | €31.3m | €29.7m | €28.1m | ▼ 5.3% |
| Tangible fixed assets22/27 | €11.2m | €8.2m | €6.6m | €5.0m | ▼ 24.2% |
| Financial fixed assets28 | €23.1m | €23.1m | €23.1m | €23.1m | = |
| Current assets29/58 | €12.2m | €19.7m | €29.8m | €31.2m | ▲ 5.0% |
| Stocks and contracts in progress3 | €1.2m | €1.4m | €1.4m | €1.5m | ▲ 8.7% |
| Amounts receivable within one year40/41 | €5.0m | €16.4m | €26.6m | €29.4m | ▲ 10.7% |
| Cash at bank and in hand54/58 | €5.7m | €1.8m | €0.8m | €0.2m | ▼ 79.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €46.5m | €51.1m | €59.4m | €59.3m | ▼ 0.2% |
| Equity10/15 | €31.5m | €33.1m | €36.9m | €42.2m | ▲ 14.5% |
| Contributions10/11 | €6.8m | €6.8m | €6.8m | €6.8m | = |
| Reserves13 | €24.7m | €26.4m | €30.1m | €35.5m | ▲ 17.7% |
| Provisions and deferred taxes16 | €2.8m | €1.9m | €1.2m | €0.4m | ▼ 69.8% |
| Amounts payable17/49 | €12.2m | €16.0m | €21.3m | €16.7m | ▼ 21.6% |
| Amounts payable after more than one year17 | €57 | - | - | - | - |
| Amounts payable within one year42/48 | €12.2m | €16.0m | €21.3m | €16.7m | ▼ 21.8% |
| Trade debts44 | €5.2m | €8.7m | €12.4m | €11.0m | ▼ 11.6% |
| Line | 2010 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | €1.7m | €3.8m | €5.3m | ▲ 42.3% |
| + Depreciation and write-downs630 | €2.9m | €3.7m | €2.9m | €3.9m | ▲ 32.4% |
| Operating cash flow (approximation) | €2.6m | €5.4m | €6.7m | €9.2m | ▲ 38.0% |
| Investment in fixed assets (approximation) | - | - | -€1.3m | -€2.3m | ▼ 77.1% |
| Change in cash | - | - | -€1.0m | -€0.6m | ▲ 36.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2014 | full format | 18-12-2014 | 2014-69500320 | |
| 31-03-2013 | full format | 27-09-2013 | 2013-60700108 | |
| 31-03-2012 | full format | 30-11-2012 | 2012-65400370 | |
| 31-12-2010 | full format | 20-06-2011 | 2011-18200113 | |
| 31-12-2009 | full format | 18-06-2010 | 2010-20200082 | |
| 31-12-2008 | full format | 17-07-2009 | 2009-43700276 | |
| 31-12-2007 | full format | 27-05-2008 | 2008-16200185 | |
| 31-12-2006 | full format | 14-06-2007 | 2007-22700317 | |
| 31-12-2005 | full format | 06-06-2006 | 2006-20105342 | |
| 31-12-2004 | full format | 03-06-2005 | 2005-20503805 |