VANELO

Inactive

KBO/BCE: BE 0458.234.829

Absorbed by Lutosa in February 2015. The last annual accounts are for financial year 2014.

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VANELOInactive

Report

Overview

Official details

Source: KBO

Status: Absorbed by Lutosa merger by absorption, February 2015
Activity: No activity registered in the KBO
Financial year end: 30 June
Peppol: Not found in the Peppol Directory

Company details

Board and ownership

Shareholders

M.F Group s.à.r.l.consolidatesannual accounts 30-06-2014

Board & ownership

Financial position

No score

Annual accounts to 30-06-2014

Turnover: €87.0m
Profit: €5.3m
Equity: €42.2m
Total assets: €59.3m
Staff: 166.8 FTE

Financials

Financials · 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 years

Turnover

€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

47.3%

52.7%

Fixed assets €28.1m ▼ 5.3%

Current assets €31.2m ▲ 5.0%

Equity and liabilities €59.3m

71.2%

28.2%

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

2014 value · change against 2013

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

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2014 against 2013 · 26 lines

Balance sheet Code20132014

Assets

Total assets20/58€59.4m€59.3m▼

Fixed assets21/28€29.7m€28.1m▼

Tangible fixed assets22/27€6.6m€5.0m▼

Financial fixed assets28€23.1m€23.1m=

Current assets29/58€29.8m€31.2m▲

Stocks and contracts in progress3€1.4m€1.5m▲

Amounts receivable within one year40/41€26.6m€29.4m▲

Cash at bank and in hand54/58€0.8m€0.2m▼

Equity and liabilities

Total equity and liabilities10/49€59.4m€59.3m▼

Equity10/15€36.9m€42.2m▲

Contributions10/11€6.8m€6.8m=

Reserves13€30.1m€35.5m▲

Provisions and deferred taxes16€1.2m€0.4m▼

Amounts payable17/49€21.3m€16.7m▼

Amounts payable within one year42/48€21.3m€16.7m▼

Trade debts44€12.4m€11.0m▼

Income statement Code20132014

Turnover70€68.8m€87.0m▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.9m€3.9m▲

Operating profit (loss)9901€5.3m€8.0m▲

Recurring financial income75€0.6m€0.5m▼

Recurring financial charges65€0.2m€0.4m▲

Debt charges650€0.2m€0.3m▲

Profit (loss) for the period before taxes9903€5.7m€8.1m▲

Income taxes67/77€2.7m€3.6m▲

Profit (loss) for the period9904€3.8m€5.3m▲

Profit (loss) for the period to be appropriated9905€5.1m€7.0m▲

Source: Annual accounts 2014 (PDF), filed on 18-12-2014.

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.

Download as CSV

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	PDF
31-03-2013	full format	27-09-2013	2013-60700108	PDF
31-03-2012	full format	30-11-2012	2012-65400370	PDF
31-12-2010	full format	20-06-2011	2011-18200113	PDF
31-12-2009	full format	18-06-2010	2010-20200082	PDF
31-12-2008	full format	17-07-2009	2009-43700276	PDF
31-12-2007	full format	27-05-2008	2008-16200185	PDF
31-12-2006	full format	14-06-2007	2007-22700317	PDF
31-12-2005	full format	06-06-2006	2006-20105342	PDF
31-12-2004	full format	03-06-2005	2005-20503805	PDF

Show all 17 filings

Board & ownership

Directors

Office holders in the KBO →

Owners and capital

Shareholders

1 owner

Chain of control

M.F Group s.à.r.l.LU consolidates
VANELO

M.F Group s.à.r.l.LUconsolidating parent
Sourceparent in own accounts 30-06-2014

consolidates

Network & group

Acquisitions and mergers

1 transaction

Taken over by:Lutosa

BE 0418.162.347merger by absorption · Gazette deed of 23-03-2015 (2 acts) · effective 27-02-2015

Connections & network

See the function holders in the KBO register.

Timeline

Acts, filings and financial milestones

All 16Financial 2Gazette 4Filings 10

2015

23-03

Gazette deed General meeting · MergerPDF

Accounting effect · Capital increase

2014

18-12

NBB filing Annual accounts 2014 filedPDF

full format · 44 days before the deadline

06-11

Gazette deed Board meeting · MergerPDF

Accounting effect · Treasury share cancellation

06-11

Gazette deed Board meeting · MergerPDF

Corporate purpose · Accounting effect

30-06

Financial Highest result from 2010 to 2014net €5.3m ▲42.3%

The operating result of €8.0m and the net result of €5.3m are both a record.

2013

27-09

NBB filing Annual accounts 2013 filedPDF

full format · 34 days before the deadline

2012

30-11

NBB filing Annual accounts 2012 filedPDF

full format · 30 days late

31-03

Financial Back to profitnet €1.7m

The net result is €1.7m, after one loss-making year.

2011

20-06

NBB filing Annual accounts 2010 filedPDF

full format · 41 days before the deadline

2010

18-06

NBB filing Annual accounts 2009 filedPDF

full format · 43 days before the deadline

2009

17-07

NBB filing Annual accounts 2008 filedPDF

full format · 14 days before the deadline

2008

27-05

NBB filing Annual accounts 2007 filedPDF

full format · 65 days before the deadline

Show earlier events

2007

14-06

NBB filing Annual accounts 2006 filedPDF

full format · 47 days before the deadline

2006

06-06

NBB filing Annual accounts 2005 filedPDF

full format · 55 days before the deadline

2005

03-06

NBB filing Annual accounts 2004 filedPDF

full format · 58 days before the deadline

1996

09-07

Gazette deed Incorporation

40 publications in the Belgian Official Gazette, the last on 23-03-2015

Show all 17 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official Gazette Filings with the National Bank

History

VANELO has filed 17 sets of annual accounts, the latest for financial year 2014.¹ In 2015 the company was absorbed by merger into Lutosa.²

Company details

Inactive

Absorbed by Lutosa in February 2015

VANELO is no longer in the KBO register. Lutosa took it over in a merger by absorption, published in the Belgian Official Gazette on 23 March 2015.

Status: Inactive
Reason: Merger by absorptionBelgian Official Gazette, 23 March 2015 · act
Absorbed by: Lutosa · 0418.162.347
Last annual accounts: financial year to 30 June 2014
Last registered office: Schoendalestraat 221, 8793 Sint-Eloois-Vijveas published on 23 March 2015
Legal form: Public limited company
First annual accounts: financial year 1997

Official KBO record

Overview

Overview

Official details

Board and ownership

Financial position

Financials

Financials · financial year 2014, full format

Board & ownership

Directors

Owners and capital

Shareholders

Owners 1

Network & group

Acquisitions and mergers

Connections & network

Timeline

Acts, filings and financial milestones

History

Company details

Absorbed by Lutosa in February 2015