VULCAST (0451.293.389), Bankruptcy closed: financials and annual accounts

VULCAST

KBO/BCE: BE 0451.293.389

Line	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	6.8m	7.5m	8.4m	8.0m	10.5m	10.0m	13.2m	14.1m	14.4m	14.3m	20.0m	20.4m	22.3m
Fixed assets`21/28`	2.3m	2.8m	3.6m	3.8m	4.4m	3.6m	4.0m	3.9m	3.9m	4.0m	4.7m	6.0m	-
Intangible fixed assets`21`	-	-	269,748	161,400	161,400	-	-	-	-	-	-	-	-
Tangible fixed assets`22/27`	2.2m	2.8m	3.3m	3.7m	4.3m	3.6m	4.0m	3.8m	3.8m	4.0m	4.7m	6.0m	5.9m
Land and buildings`22`	574,206	628,205	682,204	734,804	743,939	768,161	804,351	412,658	175,768	155,973	131,301	131,811	132,321
Plant, machinery and equipment`23`	1.7m	2.1m	2.5m	2.7m	2.0m	2.5m	2.6m	2.8m	3.1m	3.3m	3.9m	5.0m	3.7m
Furniture and vehicles`24`	7,741	19,246	34,001	52,062	90,042	126,289	150,888	109,642	38,812	35,681	54,995	62,146	47,201
Leasing and similar rights`25`	-	-	-	-	-	-	-	-	-	-	-	-	918,861
Assets under construction and advance payments`27`	-	-	-	-	1.3m	3,400	177,375	230,909	223,683	56,484	7,021	-	1.1m
Financial fixed assets`28`	36,000	11,000	11,000	11,000	11,000	11,000	11,000	11,290	11,290	11,290	11,290	11,290	11,290
Affiliated companies`280/1`	-	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Participating interests`280`	-	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000
Other financial fixed assets`284/8`	36,000	10,000	10,000	10,000	10,000	10,000	10,000	10,290	10,290	10,290	10,290	10,290	10,290
Amounts receivable and cash guarantees`285/8`	36,000	10,000	10,000	10,000	10,000	10,000	10,000	10,290	10,290	10,290	10,290	10,290	10,290
Current assets`29/58`	4.6m	4.7m	4.8m	4.2m	6.1m	6.4m	9.2m	10.2m	10.5m	10.3m	15.3m	14.4m	16.4m
Stocks and contracts in progress`3`	3.2m	2.9m	3.7m	2.8m	3.7m	4.9m	5.5m	7.4m	7.0m	6.9m	7.2m	11.6m	10.1m
Stocks`30/36`	1.4m	1.8m	1.9m	1.3m	2.0m	2.5m	3.5m	3.9m	2.8m	3.2m	3.1m	3.7m	4.1m
Raw materials and consumables`30/31`	726,617	849,973	827,545	790,202	958,355	1.0m	1.3m	1.3m	1.2m	1.3m	1.2m	1.3m	1.3m
Finished goods`33`	710,244	903,440	1.1m	495,311	1.1m	1.4m	2.2m	2.7m	1.6m	2.0m	2.0m	2.4m	2.7m
Contracts in progress`37`	1.7m	1.2m	1.8m	1.5m	1.7m	2.4m	2.0m	3.5m	4.1m	3.7m	4.1m	7.9m	6.1m
Amounts receivable within one year`40/41`	1.1m	1.7m	1.1m	1.4m	2.3m	1.5m	3.7m	2.7m	3.5m	3.3m	8.0m	2.8m	6.2m
Trade receivables`40`	949,898	1.6m	962,559	1.2m	2.0m	1.3m	3.4m	2.4m	3.2m	3.0m	7.6m	2.4m	6.0m
Other amounts receivable`41`	158,696	181,697	158,757	168,097	381,325	218,350	312,761	360,711	291,420	358,826	343,145	347,459	148,475
Cash at bank and in hand`54/58`	223,632	25	25	8	358	1,782	4,194	13,521	26,265	44,889	100,637	44,179	2,526
Deferred charges and accrued income`490/1`	70,708	-	-	-	3,373	1,137	-	71,197	-	-	1,717	11,510	85,953
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	6.8m	7.5m	8.4m	8.0m	10.5m	10.0m	13.2m	14.1m	14.4m	14.3m	20.0m	20.4m	22.3m
Equity`10/15`	1.1m	963,102	-1.2m	2.4m	1.4m	-5.1m	2.8m	-183,338	2.5m	2.9m	2.0m	1.5m	3.1m
Contributions`10/11`	1.4m	1.4m	1.4m	1.4m	1.4m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	-
Capital`10`	-	-	-	-	-	-	-	-	-	-	-	-	5.0m
Issued capital`100`	1.4m	1.4m	1.4m	1.4m	1.4m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m	5.0m
Reserves`13`	48,563	48,563	48,563	48,563	6	-	-	-	-	-	-	-	-
Legal reserve`130`	48,563	48,563	48,563	48,563	6	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-344,607	-481,275	-2.7m	922,580	118	-10.1m	-2.2m	-5.2m	-2.5m	-2.2m	-3.0m	-3.5m	-1.9m
Investment grants`15`	-	-	-	-	-	-	-	-	-	-	-	14,335	30,284
Provisions and deferred taxes`16`	220,738	372,471	459,635	683,577	3.0m	5.7m	651,378	661,976	615,524	535,082	445,058	886,584	440,886
Provisions for liabilities and charges`160/5`	220,738	372,471	459,635	683,577	3.0m	5.7m	651,378	661,976	615,524	535,082	445,058	886,584	-
Pensions and similar obligations`160`	17,724	37,359	74,728	71,274	104,693	148,950	176,323	167,944	172,414	115,985	73,883	142,955	115,274
Other liabilities and charges`164/5`	203,014	335,112	384,907	612,303	2.9m	5.5m	475,055	494,032	443,110	419,097	371,175	743,629	-
Amounts payable`17/49`	5.5m	6.1m	9.2m	5.0m	6.1m	9.5m	9.8m	13.6m	11.2m	10.9m	17.6m	18.0m	18.7m
Amounts payable after more than one year`17`	2.0m	21,582	107,322	190,719	271,836	352,245	426,758	498,316	567,036	5.1m	9.5m	2.6m	-
Financial debts`170/4`	2.0m	21,582	107,322	190,719	271,836	352,245	426,758	498,316	567,036	5.1m	9.5m	2.6m	5.0m
Leasing and similar obligations`172`	2.0m	21,582	107,322	190,719	271,836	352,245	426,758	498,316	567,036	633,030	734,927	875,600	1.2m
Credit institutions`173`	-	-	-	-	-	-	-	-	-	-	-	-	1.6m
Other loans`174`	-	-	-	-	-	-	-	-	-	4.5m	8.8m	1.7m	2.3m
Amounts payable within one year`42/48`	3.5m	6.1m	9.1m	4.8m	5.8m	9.1m	9.3m	13.1m	10.6m	5.8m	8.0m	15.4m	13.5m
Current portion of amounts payable after more than one year`42`	113,767	85,740	83,397	81,117	78,900	74,513	71,558	68,720	65,994	100,274	140,674	893,264	1.3m
Financial debts`43`	-	3.0m	5.1m	443,232	1.4m	3.9m	3.4m	7.0m	4.7m	27,872	1.2m	6.1m	3.6m
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	105,407
Other loans`439`	-	3.0m	5.1m	443,232	1.4m	3.9m	3.4m	7.0m	4.7m	27,872	1.2m	6.1m	3.5m
Trade debts`44`	2.2m	1.9m	2.2m	2.4m	2.1m	2.4m	3.9m	4.2m	4.3m	3.7m	4.9m	6.3m	6.4m
Suppliers`440/4`	2.2m	1.9m	2.2m	2.4m	2.1m	2.4m	3.9m	4.2m	4.3m	3.7m	4.9m	6.3m	6.4m
Advances received on contracts in progress`46`	123,025	-	500,000	900,000	900,000	1.1m	152,468	166,230	13,762	187,118	-	-	-
Taxes, remuneration and social security`45`	1.1m	1.2m	1.1m	1.0m	1.3m	1.6m	1.8m	1.6m	1.6m	1.7m	1.6m	2.0m	2.1m
Taxes`450/3`	192,083	187,597	52,990	52,315	59,113	69,937	71,306	53,989	103,214	88,236	55,683	295,123	271,756
Remuneration and social security`454/9`	883,204	1.0m	1.0m	960,440	1.2m	1.6m	1.8m	1.5m	1.5m	1.6m	1.6m	1.7m	1.8m
Other amounts payable`47/48`	21,658	6,901	7,261	8,342	12,703	20,121	24,007	43,152	22,735	68,213	58,644	83,384	54,314
Accrued charges and deferred income`492/3`	30,057	20,251	8,507	3,403	6,265	36,275	25,293	32,123	21,876	24,407	21,020	20,249	180,750
Income statement
Operating income`70/76A`	10.5m	10.9m	11.1m	13.6m	16.2m	18.3m	25.9m	25.3m	27.8m	28.5m	29.4m	31.1m	-
Turnover`70`	9.5m	10.5m	9.1m	13.5m	16.5m	18.1m	27.2m	24.5m	27.0m	28.1m	33.1m	29.0m	26.0m
Change in stocks of work in progress, finished goods and contracts in progress`71`	366,931	-775,143	815,001	-759,854	-1.1m	-304,730	-2.0m	379,061	124,019	-374,561	-4.3m	1.5m	2.4m
Own construction capitalised`72`	-	-	-	-	-	-	-	-	-	-	-	35,790	40,263
Other operating income`74`	-	-	-	-	-	-	-	-	-	-	-	-	676,307
Non-recurring operating income`76A`	191,956	454,221	376,391	-	736,471	701	700	702	3,305	3,304	3,305	3,305	-
Operating charges`60/66A`	12.9m	14.4m	14.7m	12.6m	16.9m	21.0m	27.6m	27.7m	27.9m	27.3m	28.6m	31.9m	-
Goods for resale, raw materials and consumables`60`	4.4m	5.0m	5.6m	5.6m	6.5m	8.1m	11.9m	12.8m	12.6m	12.5m	13.1m	16.0m	14.1m
Purchases`600/8`	4.3m	5.0m	5.7m	5.5m	6.4m	7.9m	11.9m	12.9m	12.5m	12.6m	13.0m	16.0m	14.0m
Change in stocks: decrease (increase)`609`	123,356	-22,429	-25,701	180,398	52,076	251,838	-30,169	-91,255	114,577	-93,332	139,774	19,056	22,804
Services and other goods`61`	2.7m	3.4m	3.3m	3.3m	3.6m	4.4m	6.6m	6.7m	6.9m	6.4m	7.5m	7.1m	5.3m
Remuneration, social security and pensions`62`	4.7m	5.0m	5.1m	5.1m	8.6m	7.3m	8.1m	7.0m	6.8m	6.9m	7.0m	6.9m	7.2m
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	704,937	768,884	804,053	833,349	766,871	1.0m	990,844	1.0m	1.2m	1.2m	1.4m	1.3m	999,543
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-11,642	-12,244	23,886	-3,101	3,101	38,563	-	-12,249	-40,468	52,716	-
Provisions for liabilities and charges: additions (uses and reversals)`635/8`	-151,733	-87,164	-223,942	-2.3m	-2.6m	482	-10,599	46,452	80,442	90,024	-441,526	445,698	-
Other operating charges`640/8`	86,549	88,372	90,432	97,906	97,004	162,326	138,060	185,977	329,611	296,461	138,112	159,889	255,678
Non-recurring operating charges`66A`	360,135	269,748	7,532	-	-	5.0m	38,573	19,043	18,469	21,202	-	84,800	-
Operating profit (loss)`9901`	-2.4m	-3.5m	-3.5m	1.0m	-618,563	-2.7m	-1.8m	-2.4m	-137,136	1.2m	832,667	-817,316	1.3m
Financial income`75/76B`	2.6m	6.0m	7,611	1,480	157	1,297	584	4,458	2,669	6,044	24,513	27,797	-
Recurring financial income`75`	21,980	15,120	7,611	1,480	157	1,297	584	4,458	2,669	6,044	24,513	27,797	25,144
Income from financial fixed assets`750`	701	775	1,309	655	-	-	60	140	-	251	198	1,309	831
Income from current assets`751`	-	-	-	-	-	3	-	15	1,726	4,325	1,745	8,794	6,362
Other financial income`752/9`	21,279	14,345	6,302	825	157	1,294	524	4,303	943	1,468	22,570	17,694	17,951
Non-recurring financial income`76B`	2.6m	6.0m	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	59,465	192,095	80,183	55,646	116,921	181,249	219,952	272,402	203,583	251,427	429,544	705,809	-
Recurring financial charges`65`	59,465	192,095	80,183	55,646	116,921	181,249	219,952	272,402	203,583	251,427	429,544	705,809	579,351
Debt charges`650`	48,837	183,587	77,692	53,275	113,840	178,195	214,806	269,703	196,842	238,543	395,900	593,683	554,177
Other financial charges`652/9`	10,628	8,508	2,491	2,371	3,081	3,054	5,146	2,699	6,741	12,884	33,644	112,126	-
Profit (loss) for the period before taxes`9903`	147,319	2.3m	-3.6m	972,133	1,144	-7.9m	-2.0m	-2.7m	-353,213	928,035	430,942	-1.6m	756,865
Income taxes`67/77`	10,651	137,829	-	1,115	1,019	598	1,972	1,965	-4,352	57,748	-66,489	-	242,894
Taxes`670/3`	10,651	137,829	-	1,115	1,019	598	1,972	1,965	-	57,748	-	-	242,894
Tax adjustments and reversals of tax provisions`77`	-	-	-	-	-	-	-	-	4,352	-	66,489	-	-
Profit (loss) for the period`9904`	136,668	2.2m	-3.6m	971,018	125	-7.9m	-2.0m	-2.7m	-348,861	870,287	497,430	-1.6m	513,971
Profit (loss) for the period to be appropriated`9905`	136,668	2.2m	-3.6m	971,018	125	-7.9m	-2.0m	-2.7m	-348,861	870,287	497,430	-1.6m	513,971
Appropriation of the result
Profit (loss) to be appropriated`9906`	-344,607	-481,275	-2.7m	971,136	-10.1m	-10.1m	-7.2m	-5.2m	-2.5m	-2.2m	-3.0m	-3.5m	-1.9m
Profit (loss) brought forward from the previous period`14P`	-	-	-	-	-	-	-	-	-	-	-	-	-2.5m
Transfer from equity`791/2`	-	-	-	-	10.1m	-	5.0m	-	-	-	-	-	-
Withdrawal from contributions`791`	-	-	-	-	10.1m	-	5.0m	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	48,557	6	-	-	-	-	-	-	-	-
To the legal reserve`6920`	-	-	-	48,557	6	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	78.4	84	83.2	82.3	92.4	135.2	136.9	132.2	132.5	133.5	138.2	138.5	135.7
Men (FTE)`1003`	72.5	77.4	76.8	75	84.7	126.4	128.8	124.3	-	-	-	-	-
Women (FTE)`1003`	5.9	6.6	6.4	7.3	7.7	8.8	8.1	7.9	-	-	-	-	-
Agency workers`1501`	0.3	3.2	5.1	3.3	0.9	1.5	3.9	12.5	12	8.8	16.3	23.6	-
Hours worked`1013`	93,746	104,628	125,206	116,616	128,875	173,101	196,202	190,295	190,181	190,912	198,393	197,784	-
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Financial year	Type	Filed	Reference	Document
31-12-2019	full format	29-09-2020	2020-56600371	PDF
31-12-2018	full format	18-07-2019	2019-34300600	PDF
31-12-2017	full format	01-08-2018	2018-42400457	PDF
31-12-2016	full format	07-07-2017	2017-29100302	PDF
31-12-2015	full format	12-07-2016	2016-30900128	PDF
31-12-2014	full format	09-06-2015	2015-16100173	PDF
31-12-2013	full format	11-07-2014	2014-29400002	PDF
31-12-2012	full format	18-06-2013	2013-18500264	PDF
31-12-2011	full format	20-06-2012	2012-19800319	PDF
31-12-2010	full format	24-06-2011	2011-20300463	PDF
31-12-2009	full format	09-06-2010	2010-15900297	PDF
31-12-2008	full format	09-07-2009	2009-38800041	PDF
31-12-2007	full format	24-07-2008	2008-46900220	PDF
31-12-2006	full format	02-08-2007	2007-52500179	PDF
31-12-2005	full format	07-07-2006	2006-43404805	PDF
31-12-2004	full format	27-05-2005	2005-17804936	PDF
31-12-2003	full format	07-05-2004	2004-13803000	PDF
31-12-2002	full format	06-05-2003	2003-13002996	PDF
31-12-2001	full format	31-05-2002	2002-15804508	PDF
31-12-2000	full format	23-05-2001	2001-14402930	PDF
31-12-1999	full format	07-06-2000	2000-19101889	PDF
31-12-1998	full format	21-05-1999	1999-11104554	PDF
31-12-1997	full format	06-05-1998	1998-08503014	PDF
31-12-1996	full format	12-05-1997	1997-07303539	PDF
31-12-1995	full format	06-05-1996	1996-07400475	PDF
31-12-1994	full format	16-05-1995	1995-08202606	PDF

Line	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	-1.7m	-2.7m	-2.7m	1.9m	148,308	-1.7m	-774,409	-1.4m	1.0m	2.4m	2.2m	496,153	2.3m
Cash flow	841,605	3.0m	-2.8m	1.8m	766,996	-6.9m	-1.0m	-1.7m	803,149	2.1m	1.9m	-263,354	1.5m
Investment in fixed assets	130,823	271,548	571,444	247,132	1.6m	636,245	1.2m	1.0m	1.0m	474,097	104,780	1.4m	2.2m
Change in cash	223,606	0	17	-350	-1,424	-2,412	-9,327	-12,744	-18,624	-55,748	56,458	41,653	-
Working capital	1.1m	-1.5m	-4.3m	-595,395	276,131	-2.7m	-142,320	-2.8m	-115,367	4.5m	7.3m	-1.0m	2.9m
EBIT margin	-25.3%	-33.0%	-39.0%	7.6%	-3.7%	-14.9%	-6.5%	-9.9%	-0.5%	4.2%	2.5%	-2.8%	5.0%
Solvency	16.1%	12.9%	-14.8%	29.4%	13.3%	-51.0%	21.1%	-1.3%	17.6%	20.1%	10.0%	7.5%	14.0%
Current ratio	1.31	0.76	0.53	0.88	1.05	0.70	0.98	0.78	0.99	1.78	1.91	0.93	1.21
Quick ratio	0.40	0.28	0.12	0.29	0.40	0.16	0.40	0.21	0.33	0.58	1.01	0.18	0.46
Debt to equity	5.03	6.39	-	2.11	4.36	-	3.50	-	4.42	3.79	8.73	11.78	5.99
ROE	12.4%	229.4%	-	41.0%	0.0%	-	-72.5%	-	-13.8%	30.2%	24.7%	-103.2%	16.5%
ROA	2.0%	29.5%	-43.1%	12.1%	0.0%	-78.8%	-15.3%	-19.3%	-2.4%	6.1%	2.5%	-7.7%	2.3%
Interest coverage	-34.86	-14.74	-35.22	34.91	1.30	-9.42	-3.61	-5.29	5.16	10.00	5.52	0.84	4.16
Customer credit	36 days	54 days	39 days	33 days	43 days	25 days	46 days	35 days	44 days	39 days	84 days	31 days	85 days
Supplier credit	110 days	82 days	92 days	96 days	76 days	69 days	77 days	79 days	80 days	71 days	87 days	100 days	120 days

VULCAST

Annual accounts 2019

Money flows

Balance sheet

Change in equityin €m

Change in cashin euro

Staff

Men and women8% women

Staff cost per FTE€60,364

Joined and left-8

Filed annual accounts

Filings

Key figures and ratios

Insights on VULCAST