VERBRUGGE
InactiveNo longer registered with the KBO; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline22-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 15-05-2023, 77 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
77 d early
2021
82 d early
2020
67 d early
2019
39 d early
← before the deadline
after the deadline →
Financials · fiscal year 2022, full schema
Turnover
€19.45M▲ 9.7%
2021 · €17.74M
2018: €18.14M
2019: €11.25M
2020: €10.91M
2021: €17.74M
2018 → 2022
EBIT margin
11.9%▼ 9.8pp
2021 · 21.7%
2018: 32.4%
2019: 25.4%
2020: 25.6%
2021: 21.7%
2018 → 2022
Net result
€-3.53M
2021 · €2.63M
2018: €2.65M
2019: €208k
2020: €1.88M
2021: €2.63M
2018 → 2022
Working capital
€1.62M▲ 30.7%
2021 · €1.24M
2018: €-489k
2019: €299k
2020: €1.80M
2021: €1.24M
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€18.14M-€11.25M▼ 38.0%€10.91M▼ 3.0%€17.74M▲ 62.5%€19.45M▲ 9.7%
Equity€81.89M-€82.10M▲ 0.3%€83.98M▲ 2.3%€86.61M▲ 3.1%€83.08M▼ 4.1%
Operating result€5.87M-€2.85M▼ 51.4%€2.79M▼ 2.2%€3.84M▲ 37.7%€2.31M▼ 39.8%
Net result€2.65M-€208k▼ 92.2%€1.88M▲ 803%€2.63M▲ 40.1%€-3.53M
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 40% below 2021 and is the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €603.62M
Fixed assets
€599.51M▲ 0.8%
Current assets
€4.12M▲ 4.6%
Equity and liabilities €603.62M
Equity
€83.08M▼ 4.1%
Provisions
€48k▼ 30.8%
Debt
€520.50M▲ 1.7%
The debt ratio rises from 85.5% to 86.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.35M▼
2021 · €3.88M
Cash flow
€-3.49M▼
2021 · €2.67M
Solvency
13.8%▼
2021 · 14.5%
Current ratio
1.65▲
2021 · 1.46
Quick ratio
0.84▲
2021 · 0.78
Debt / equity
6.26▲
2021 · 5.91
ROE
-4.2%▼
2021 · 3.0%
ROA
-0.6%▼
2021 · 0.4%
Interest coverage
0.33▼
2021 · 17426.88
Debt
€520.50M▲
2021 · €511.79M
Debt ≤ 1 year
€2.50M▼
2021 · €2.69M
Debt > 1 year
€518.00M▲
2021 · €509.10M
Staff costs
€3.06M▲
2021 · €2.52M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2022 against 2021
Balance sheet
Code20212022
Assets
Total assets20/58€598.47M€603.62M▲
Fixed assets21/28€594.53M€599.51M▲
Tangible fixed assets22/27€58k€33k▼
Plant, machinery and equipment23€17k-
Furniture and vehicles24€40k€32k▼
Leasing and similar rights25€1k€414▼
Financial fixed assets28€594.48M€599.47M▲
Affiliated companies280/1€541.37M€544.80M▲
Participating interests280€541.37M€544.80M▲
Companies linked by participating interests282/3€53.10M€54.67M▲
Participating interests282€53.10M€54.67M▲
Current assets29/58€3.94M€4.12M▲
Stocks and contracts in progress3€1.83M€2.03M▲
Stocks30/36€1.83M€2.03M▲
Raw materials and consumables30/31€1.34M€1.25M▼
Work in progress32€126k€93k▼
Finished goods33€363k€688k▲
Amounts receivable within one year40/41€2.03M€1.97M▼
Trade receivables40€1.81M€1.29M▼
Other amounts receivable41€221k€679k▲
Cash at bank and in hand54/58€78k€122k▲
Equity and liabilities
Total equity and liabilities10/49€598.47M€603.62M▲
Equity10/15€86.61M€83.08M▼
Contributions10/11€62.00M€62.00M=
Capital10€62.00M€62.00M=
Issued capital100€62.00M€62.00M=
Reserves13€4.05M€4.05M=
Non-distributable reserves130/1€3.63M€3.63M=
Legal reserve130€3.63M€3.63M=
Tax-exempt reserves132€4k€4k=
Distributable reserves133€422k€422k=
Profit (loss) carried forward14€20.55M€17.03M▼
Provisions and deferred taxes16€69k€48k▼
Provisions for liabilities and charges160/5€69k€48k▼
Pensions and similar obligations160€69k€48k▼
Amounts payable17/49€511.79M€520.50M▲
Amounts payable after more than one year17€509.10M€518.00M▲
Financial debts170/4€509.10M€518.00M▲
Other loans174€509.10M€518.00M▲
Amounts payable within one year42/48€2.69M€2.50M▼
Current portion of amounts payable after more than one year42€1k€165▼
Trade debts44€2.09M€1.86M▼
Suppliers440/4€2.09M€1.86M▼
Taxes, remuneration and social security45€604k€632k▲
Taxes450/3€7k€78k▲
Remuneration and social security454/9€597k€554k▼
Other amounts payable47/48€486-
Income statement
Code20212022
Operating income70/76A€18.20M€20.15M▲
Turnover70€17.74M€19.45M▲
Change in stocks of work in progress, finished goods and contracts in progress71€193k€385k▲
Other operating income74€276k€314k▲
Non-recurring operating income76A€194€308▲
Operating charges60/66A€14.36M€17.84M▲
Goods for resale, raw materials and consumables60€10.20M€12.90M▲
Purchases600/8€10.80M€12.86M▲
Change in stocks: decrease (increase)609€-605k€42k▲
Services and other goods61€1.64M€1.72M▲
Remuneration, social security and pensions62€2.52M€3.06M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€35k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€7k€143k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-41k€-21k▲
Other operating charges640/8€447€424▼
Operating profit (loss)9901€3.84M€2.31M▼
Financial income75/76B€11k€1.35M▲
Recurring financial income75€11k€1.35M▲
Income from financial fixed assets750-€1.33M
Income from current assets751€0-
Other financial income752/9€11k€15k▲
Financial charges65/66B€324k€7.19M▲
Recurring financial charges65€324k€7.19M▲
Debt charges650€223€7.06M▲
Other financial charges652/9€324k€120k▼
Profit (loss) for the period before taxes9903€3.53M€-3.53M▼
Income taxes67/77€900k-
Taxes670/3€901k-
Tax adjustments and reversals of tax provisions77€677-
Profit (loss) for the period9904€2.63M€-3.53M▼
Profit (loss) for the period to be appropriated9905€2.63M€-3.53M▼
Appropriation of the result
Profit (loss) to be appropriated9906€20.69M€17.03M▼
Profit (loss) brought forward from the previous period14P€18.05M€20.55M▲
Transfer to equity691/2€132k-
To the legal reserve6920€132k-
Social balance
Average headcount (FTE)908743.354.7▲
The notes to these accounts (62 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2023
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-3.53M ▼234%
Net result drops to €-3.53M, the lowest in the series.
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
25-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
13-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
01-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
04-05
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
13-05
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 22 acts read
About the unread acts
We know of 22 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Group per the LEI register
2 parent companiesParent company:PICANOL
Ultimate parent:Tessenderlo Group
Public money · subsidies and aid
Flemish government
2022 to 2023 · 4 entries · 11,391 EUR awarded · 11,391 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 5,323 EUR | 5,323 EUR |
| 2022 | 2 | 6,068 EUR | 6,068 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Legal Entity Identifier
54930034KXLBBX5MXM42