WESS (0671.676.795), In bankruptcy: financials and annual accounts

WESS

Bruges ·KBO/BCE: BE 0671.676.795

Line	2022	2021	2020	2019	2018
Balance sheet: assets
Total assets`20/58`	647,453	354,501	343,096	525,697	747,530
Formation expenses`20`	0	617	3,085	5,553	8,021
Fixed assets`21/28`	135,474	155,199	135,622	401,475	356,917
Tangible fixed assets`22/27`	135,474	155,199	135,622	76,475	56,917
Plant, machinery and equipment`23`	10,540	11,719	14,135	23,945	14,075
Furniture and vehicles`24`	1,656	3,076	3,697	11,198	17,214
Other tangible fixed assets`26`	123,278	140,404	117,790	41,332	25,628
Financial fixed assets`28`	-	-	0	325,000	300,000
Current assets`29/58`	511,979	198,685	204,389	118,668	382,593
Stocks and contracts in progress`3`	3,000	3,000	3,000	3,000	3,112
Stocks`30/36`	3,000	3,000	3,000	3,000	3,112
Amounts receivable within one year`40/41`	272,363	136,789	167,092	64,489	132,288
Trade receivables`40`	244,981	125,559	151,036	34,303	-
Other amounts receivable`41`	27,382	11,231	16,056	30,186	132,288
Cash at bank and in hand`54/58`	5,030	13,422	5,552	24,780	213,643
Deferred charges and accrued income`490/1`	231,585	45,474	28,745	26,399	33,549
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	647,453	354,501	343,096	525,697	747,530
Equity`10/15`	-117,851	-39,772	-67,068	39,064	422,302
Contributions`10/11`	200,000	200,000	200,000	200,000	400,000
Issued capital`100`	-	-	-	200,000	400,000
Reserves`13`	1,115	1,115	1,115	1,115	1,115
Non-distributable reserves`130/1`	1,115	1,115	1,115	-	-
Legal reserve`130`	-	-	-	1,115	1,115
Reserves not available under the articles`1311`	1,115	-	0	-	-
Other`1319`	-	1,115	1,115	-	-
Profit (loss) carried forward`14`	-318,966	-240,887	-268,183	-162,051	21,186
Amounts payable`17/49`	765,304	394,272	410,164	486,632	325,229
Amounts payable after more than one year`17`	30,000	30,000	-	-	-
Financial debts`170/4`	30,000	30,000	-	-	-
Amounts payable within one year`42/48`	584,329	217,768	319,651	412,443	321,473
Trade debts`44`	151,352	105,869	50,775	148,113	140,798
Suppliers`440/4`	151,352	105,869	50,775	148,113	140,798
Advances received on contracts in progress`46`	108,781	0	54,595	153,679	137,106
Taxes, remuneration and social security`45`	81,225	77,484	38,607	62,998	43,568
Taxes`450/3`	8,518	27,668	11,595	22,538	9,546
Remuneration and social security`454/9`	72,708	49,816	27,012	40,460	34,022
Other amounts payable`47/48`	242,970	34,414	175,674	47,653	-
Accrued charges and deferred income`492/3`	150,975	146,505	90,512	74,189	3,756
Income statement
Gross operating margin`9900`	615,330	-273,040	233,480	469,716	761,278
Remuneration, social security and pensions`62`	392,848	218,568	181,556	436,836	696,514
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	26,995	29,008	28,522	23,656	29,914
Other operating charges`640/8`	168,504	150,391	106,483	145,007	1,326
Operating profit (loss)`9901`	26,983	-671,007	-83,081	-135,784	33,525
Financial income`75/76B`	1,339	729,756	1,286	807	199
Recurring financial income`75`	1,339	578	1,286	807	199
Non-recurring financial income`76B`	0	729,178	-	-	-
Financial charges`65/66B`	27,273	24,029	23,863	46,338	1,722
Recurring financial charges`65`	27,273	24,029	23,863	46,338	1,722
Profit (loss) for the period before taxes`9903`	1,048	34,721	-105,658	-181,315	32,002
Income taxes`67/77`	287	7,425	475	1,922	9,700
Profit (loss) for the period`9904`	761	27,296	-106,132	-183,237	22,302
Profit (loss) for the period to be appropriated`9905`	761	27,296	-106,132	-183,237	22,302
Appropriation of the result
Profit (loss) to be appropriated`9906`	-318,966	-240,887	-268,183	-162,051	22,302
Profit (loss) brought forward from the previous period`14P`	-319,727	-268,183	-	-	-
Transfer to equity`691/2`	-	-	-	-	1,115
To the legal reserve`6920`	-	-	-	-	1,115
Social balance sheet
Average staff (FTE)`9087`	8.3	8.5	8.3	9.3	10
Hours worked`1013`	13,860	8,256	6,060	16,461	28,035
Document	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2022	abbreviated format	05-10-2023	2023-00472169	PDF
31-12-2021	abbreviated format	11-07-2022	2022-20168743	PDF
31-12-2020	abbreviated format	28-06-2021	2021-24900458	PDF
31-12-2019	abbreviated format	14-09-2020	2020-52600288	PDF
31-12-2018	abbreviated format	18-09-2019	2019-64600169	PDF

Line	2022	2021	2020	2019	2018
EBITDA	53,978	-641,999	-54,559	-112,127	63,439
Cash flow	27,756	56,305	-77,610	-159,581	52,216
Investment in fixed assets	6,653	46,117	85,201	65,747	382,512
Change in cash	-8,391	7,870	-19,228	-188,863	-
Working capital	-72,350	-19,083	-115,263	-293,775	61,120
Solvency	-18.2%	-11.2%	-19.5%	7.4%	56.5%
Current ratio	0.88	0.91	0.64	0.29	1.19
Quick ratio	0.87	0.90	0.63	0.28	1.18
Debt to equity	-	-	-	12.46	0.77
ROE	-	-	-	-469.1%	5.3%
ROA	0.1%	7.7%	-30.9%	-34.9%	3.0%
Interest coverage	1.98	-26.72	-	-	-

Item	31-12-2022	31-12-2021
Employees at the balance-sheet date	10	10
full-time	7	8
part-time	3	2
in full-time equivalents	8.8	9
Average over the year, in full-time equivalents	8.3	8.5
On a permanent contract	7	9
Joined	8	5
Left	8	3
Training hours	0	-

Item	2022	2021
Tangible fixed assets	€6,653	€46,117
Depreciation and write-downs of the year	€26,995	€29,008

WESS

Annual accounts 2022

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency-18.2%

Current ratio0.88

Return on assets0.1%

Staff

Staff cost per FTE€47,331

Joined and left+0

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022, 1 entry, €1,250 awarded, €1,250 paid

Key figures and ratios

Social balance sheet

Investments

Insights on WESS