Skip to content

WESS

Open bankruptcy
Private limited company (pre-2019)founded 2017Jagersstraat 20, 8200 Brugge, BelgiumKBO/BCE: BE 0671.676.795
WESSOpen bankruptcy

Financials · 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
Multi-year overview
2018 to 2022, 5 financial years
Operating result
€26,983
2022
20182022
Net result
€761
▼ 97.2% 2022
middle half of the sector
20182022
Equity
-€117,851
▼ 196% 2022
lowest quarter of the sector
20182022
Total assets
€647,453
▲ 82.6% 2022
middle half of the sector
20182022
Debt
€765,304
▲ 94.1% 2022
20182022
Working capital
-€72,350
▼ 279% 2022
middle half of the sector
20182022
Solvency
-18.2%
▼ 7.0pp 2022
lowest quarter of the sector
20182022
Current ratio
0.88
▼ 0.04 2022
middle half of the sector
20182022
Return on assets (ROA)
0.1%
▼ 7.6pp 2022
middle half of the sector
20182022
Staff (FTE)
8.3
▼ 2.4% 2022
middle half of the sector
20182022
Every figure per financial year
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.

The operating result for 2022 is a profit of €26,983, after a loss of €671,007 in 2021.

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
2022 value · change against 2021
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

social balance sheet
Item31-12-202131-12-2022
Employees at the balance-sheet date1010
full-time87
part-time23
in full-time equivalents98.8
Average over the year, in full-time equivalents8.58.3
On a permanent contract97
Joined58
Left38
Training hours-0

Source: social balance sheet in the 2021 to 2022 annual accounts

Investments

fixed assets acquired
Item20212022
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 paid
Schemes
1 entry · €1,250 · €1,250 paid · Departement Werk en Sociale Economie
Annual accounts
Filed annual accounts As filed with the NBB · 2022 against 2021 · 52 lines
Balance sheet Code20212022
Assets
Total assets20/58€354,501€647,453▲
Formation expenses20€617€0▼
Fixed assets21/28€155,199€135,474▼
Tangible fixed assets22/27€155,199€135,474▼
Plant, machinery and equipment23€11,719€10,540▼
Furniture and vehicles24€3,076€1,656▼
Other tangible fixed assets26€140,404€123,278▼
Current assets29/58€198,685€511,979▲
Stocks and contracts in progress3€3,000€3,000=
Stocks30/36€3,000€3,000=
Amounts receivable within one year40/41€136,789€272,363▲
Trade receivables40€125,559€244,981▲
Other amounts receivable41€11,231€27,382▲
Cash at bank and in hand54/58€13,422€5,030▼
Deferred charges and accrued income490/1€45,474€231,585▲
Equity and liabilities
Total equity and liabilities10/49€354,501€647,453▲
Equity10/15-€39,772-€117,851▼
Contributions10/11€200,000€200,000=
Reserves13€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-€240,887-€318,966▼
Amounts payable17/49€394,272€765,304▲
Amounts payable after more than one year17€30,000€30,000=
Financial debts170/4€30,000€30,000=
Amounts payable within one year42/48€217,768€584,329▲
Trade debts44€105,869€151,352▲
Suppliers440/4€105,869€151,352▲
Advances received on contracts in progress46€0€108,781▲
Taxes, remuneration and social security45€77,484€81,225▲
Taxes450/3€27,668€8,518▼
Remuneration and social security454/9€49,816€72,708▲
Other amounts payable47/48€34,414€242,970▲
Accrued charges and deferred income492/3€146,505€150,975▲
Income statement Code20212022
Remuneration, social security and pensions62€218,568€392,848▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29,008€26,995▼
Other operating charges640/8€150,391€168,504▲
Gross operating margin9900-€273,040€615,330▲
Operating profit (loss)9901-€671,007€26,983▲
Financial income75/76B€729,756€1,339▼
Recurring financial income75€578€1,339▲
Non-recurring financial income76B€729,178€0▼
Financial charges65/66B€24,029€27,273▲
Recurring financial charges65€24,029€27,273▲
Profit (loss) for the period before taxes9903€34,721€1,048▼
Income taxes67/77€7,425€287▼
Profit (loss) for the period9904€27,296€761▼
Profit (loss) for the period to be appropriated9905€27,296€761▼
Appropriation of the result
Profit (loss) to be appropriated9906-€240,887-€318,966▼
Profit (loss) brought forward from the previous period14P-€268,183-€319,727▼
Social balance sheet
Average headcount (FTE)90878.58.3▼

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2022 (PDF), filed on 05-10-2023.

Line20182019202020212022Change
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%
Line20182019202020212022Change
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%
Line20182019202020212022Change
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.

Download as CSV

Filings with the National Bank (5)
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