WESS
Open bankruptcyFinancials · financial year 2022, abbreviated format
2022 annual accounts filed 66 days after the deadline Filed on 5 October 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00472169.
Annual accounts 2022 filed on 05-10-2023 PDF all 5 filings
Turnover
≈ €1.2m
Estimated: probably between €940,000 and €1.5m
Total assets
€647,453▲ 82.6%
2021 · €354,501
Net result
€761▼ 97.2%
2021 · €27,296
Working capital
-€72,350▼ 279%
2021 · -€19,083
Trend over the years
2018 to 2022, 5 financial years
The operating result for 2022 is a profit of €26,983, after a loss of €671,007 in 2021.
Operating result€26,983
2022
Net result€761
2022
Total assets€647,453
2022
Equity-€117,851
2022
Debt€765,304
2022
Working capital-€72,350
2022
Return on assets (ROA)0.1%
2022
Solvency-18.2%
2022
Current ratio0.88
2022
Staff (FTE)8.3
2022
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Accommodation (NACE 55). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Operating result€33,525--€135,784-€83,081▲ 38.8%-€671,007▼ 708%€26,983
Net result€22,302--€183,237-€106,132below the sector's middle half▲ 42.1%€27,296within the sector's middle half€761within the sector's middle half▼ 97.2%
Equity€422,302-€39,064▼ 90.7%-€67,068below the sector's middle half-€39,772below the sector's middle half▲ 40.7%-€117,851below the sector's middle half▼ 196%
Total assets€747,530-€525,697▼ 29.7%€343,096below the sector's middle half▼ 34.7%€354,501below the sector's middle half▲ 3.3%€647,453within the sector's middle half▲ 82.6%
Debt€325,229-€486,632▲ 49.6%€410,164▼ 15.7%€394,272▼ 3.9%€765,304▲ 94.1%
Working capital€61,120--€293,775-€115,263within the sector's middle half▲ 60.8%-€19,083within the sector's middle half▲ 83.4%-€72,350within the sector's middle half▼ 279%
Solvency56.5%-7.4%▼ 49.1pp-19.5%below the sector's middle half▼ 27.0pp-11.2%below the sector's middle half▲ 8.3pp-18.2%below the sector's middle half▼ 7.0pp
Current ratio1.19-0.29▼ 0.900.64within the sector's middle half▲ 0.350.91within the sector's middle half▲ 0.270.88within the sector's middle half▼ 0.04
Return on assets (ROA)3.0%--34.9%▼ 37.8pp-30.9%below the sector's middle half▲ 3.9pp7.7%above the sector's middle half▲ 38.6pp0.1%within the sector's middle half▼ 7.6pp
Staff (FTE)10-9.3▼ 7.0%8.3within the sector's middle half▼ 10.8%8.5within the sector's middle half▲ 2.4%8.3within the sector's middle half▼ 2.4%
above
within
below
The sector band is the middle half of the companies in Accommodation (NACE 55). 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.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €647,453
Fixed assets
€135,474 ▼ 12.7%
Current assets
€511,979 ▲ 158%
Equity and liabilities
Equity-€117,851
Debt€765,304
Equity is negative. Debt (€765,304) exceeds the balance-sheet total (€647,453).
Key figures and ratios
EBITDA
€53,978▲
2021 · -€641,999
Cash flow
€27,756▼
2021 · €56,305
Quick ratio
0.87▼
2021 · 0.90
Interest coverage
1.98▲
2021 · -26.72
Debt ≤ 1 year
€584,329▲
2021 · €217,768
Debt > 1 year
€30,000=
2021 · €30,000
Income taxes
€287▼
2021 · €7,425
Staff costs
€392,848▲
2021 · €218,568
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 10 | 10 |
| full-time | 8 | 7 |
| part-time | 2 | 3 |
| in full-time equivalents | 9 | 8.8 |
| Average over the year, in full-time equivalents | 8.5 | 8.3 |
| On a permanent contract | 9 | 7 |
| Joined | 5 | 8 |
| Left | 3 | 8 |
| Training hours | - | 0 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | €46,117 | €6,653 |
| Depreciation and write-downs of the year | €29,008 | €26,995 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €1,250 awarded · €1,250 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €218,568 | €392,848 | ▲ 79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,914 | €23,656 | €28,522 | €29,008 | €26,995 | ▼ 6.9% |
| Other operating charges640/8 | - | - | - | €150,391 | €168,504 | ▲ 12.0% |
| Gross operating margin9900 | €761,278 | €469,716 | €233,480 | -€273,040 | €615,330 | - |
| Operating profit (loss)9901 | €33,525 | -€135,784 | -€83,081 | -€671,007 | €26,983 | - |
| Financial income75/76B | - | - | - | €729,756 | €1,339 | ▼ 99.8% |
| Recurring financial income75 | €199 | €807 | €1,286 | €578 | €1,339 | ▲ 131% |
| Non-recurring financial income76B | - | - | - | €729,178 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €24,029 | €27,273 | ▲ 13.5% |
| Recurring financial charges65 | €1,722 | €46,338 | €23,863 | €24,029 | €27,273 | ▲ 13.5% |
| Profit (loss) for the period before taxes9903 | €32,002 | -€181,315 | -€105,658 | €34,721 | €1,048 | ▼ 97.0% |
| Income taxes67/77 | €9,700 | €1,922 | €475 | €7,425 | €287 | ▼ 96.1% |
| Profit (loss) for the period9904 | €22,302 | -€183,237 | -€106,132 | €27,296 | €761 | ▼ 97.2% |
| Profit (loss) for the period to be appropriated9905 | €22,302 | -€183,237 | -€106,132 | €27,296 | €761 | ▼ 97.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €747,530 | €525,697 | €343,096 | €354,501 | €647,453 | ▲ 82.6% |
| Formation expenses20 | €8,021 | €5,553 | €3,085 | €617 | €0 | ▼ 100% |
| Fixed assets21/28 | €356,917 | €401,475 | €135,622 | €155,199 | €135,474 | ▼ 12.7% |
| Tangible fixed assets22/27 | €56,917 | €76,475 | €135,622 | €155,199 | €135,474 | ▼ 12.7% |
| Plant, machinery and equipment23 | - | - | - | €11,719 | €10,540 | ▼ 10.1% |
| Furniture and vehicles24 | - | - | - | €3,076 | €1,656 | ▼ 46.2% |
| Other tangible fixed assets26 | - | - | - | €140,404 | €123,278 | ▼ 12.2% |
| Financial fixed assets28 | €300,000 | €325,000 | €0 | - | - | - |
| Current assets29/58 | €382,593 | €118,668 | €204,389 | €198,685 | €511,979 | ▲ 158% |
| Stocks and contracts in progress3 | €3,112 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Stocks30/36 | - | - | - | €3,000 | €3,000 | = |
| Amounts receivable within one year40/41 | €132,288 | €64,489 | €167,092 | €136,789 | €272,363 | ▲ 99.1% |
| Trade receivables40 | - | - | - | €125,559 | €244,981 | ▲ 95.1% |
| Other amounts receivable41 | - | - | - | €11,231 | €27,382 | ▲ 144% |
| Cash at bank and in hand54/58 | €213,643 | €24,780 | €5,552 | €13,422 | €5,030 | ▼ 62.5% |
| Deferred charges and accrued income490/1 | - | - | - | €45,474 | €231,585 | ▲ 409% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €747,530 | €525,697 | €343,096 | €354,501 | €647,453 | ▲ 82.6% |
| Equity10/15 | €422,302 | €39,064 | -€67,068 | -€39,772 | -€117,851 | ▼ 196% |
| Contributions10/11 | €400,000 | €200,000 | - | €200,000 | €200,000 | = |
| Reserves13 | €1,115 | €1,115 | €1,115 | €1,115 | €1,115 | = |
| Non-distributable reserves130/1 | - | - | - | €1,115 | €1,115 | = |
| Reserves not available under the articles1311 | - | - | - | - | €1,115 | - |
| Other1319 | - | - | - | €1,115 | - | - |
| Profit (loss) carried forward14 | €21,186 | -€162,051 | -€268,183 | -€240,887 | -€318,966 | ▼ 32.4% |
| Amounts payable17/49 | €325,229 | €486,632 | €410,164 | €394,272 | €765,304 | ▲ 94.1% |
| Amounts payable after more than one year17 | - | - | - | €30,000 | €30,000 | = |
| Financial debts170/4 | - | - | - | €30,000 | €30,000 | = |
| Amounts payable within one year42/48 | €321,473 | €412,443 | €319,651 | €217,768 | €584,329 | ▲ 168% |
| Trade debts44 | €140,798 | €148,113 | €50,775 | €105,869 | €151,352 | ▲ 43.0% |
| Suppliers440/4 | - | - | - | €105,869 | €151,352 | ▲ 43.0% |
| Advances received on contracts in progress46 | - | - | - | €0 | €108,781 | - |
| Taxes, remuneration and social security45 | - | - | - | €77,484 | €81,225 | ▲ 4.8% |
| Taxes450/3 | - | - | - | €27,668 | €8,518 | ▼ 69.2% |
| Remuneration and social security454/9 | - | - | - | €49,816 | €72,708 | ▲ 46.0% |
| Other amounts payable47/48 | - | - | - | €34,414 | €242,970 | ▲ 606% |
| Accrued charges and deferred income492/3 | - | - | - | €146,505 | €150,975 | ▲ 3.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,302 | -€183,237 | -€106,132 | €27,296 | €761 | ▼ 97.2% |
| + Depreciation and write-downs630 | €29,914 | €23,656 | €28,522 | €29,008 | €26,995 | ▼ 6.9% |
| Operating cash flow (approximation) | €52,216 | -€159,581 | -€77,610 | €56,305 | €27,756 | ▼ 50.7% |
| Investment in fixed assets (approximation) | - | -€68,215 | €237,331 | -€48,585 | -€7,270 | ▲ 85.0% |
| Change in cash | - | -€188,863 | -€19,228 | €7,870 | -€8,391 | - |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | abbreviated format | 05-10-2023 | 2023-00472169 | |
| 31-12-2021 | abbreviated format | 11-07-2022 | 2022-20168743 | |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-24900458 | |
| 31-12-2019 | abbreviated format | 14-09-2020 | 2020-52600288 | |
| 31-12-2018 | abbreviated format | 18-09-2019 | 2019-64600169 |