XSOLVEIT
InactiveFinancials · financial year 2022, full format
2022 annual accounts filed 30 days after the deadline Filed on 30 August 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00402098.
Annual accounts 2022 filed on 30-08-2023 PDF all 14 filings
Turnover
€15.1m▲ 6.2%
2021 · €14.2m
EBIT margin
12.2%▼ 0.2pp
2021 · 12.4%
Net result
€1.3m▲ 0.7%
2021 · €1.3m
Working capital
€5.8m▲ 21.5%
2021 · €4.8m
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result for 2022 is 5% higher than in 2021. It is a recovery after the fall in 2021.
Turnover€15.1m
2022
Operating result€1.8m
2022
Net result€1.3m
2022
Total assets€8.8m
2022
Equity€5.3m
2022
Debt€3.5m
2022
Working capital€5.8m
2022
EBIT margin12.2%
2022
Staff (FTE)17.1
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.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Turnover€15.1m-€16.3m▲ 8.1%€13.3m▼ 18.5%€14.2m▲ 6.9%€15.1m▲ 6.2%
Operating result€0.5m-€1.6m▲ 237%€2.2m▲ 38.8%€1.8m▼ 19.6%€1.8m▲ 4.5%
Net result€0.4m-€1.3m▲ 251%€1.7m▲ 32.2%€1.3m▼ 25.4%€1.3m▲ 0.7%
EBIT margin3.1%-9.7%▲ 6.6pp16.5%▲ 6.8pp12.4%▼ 4.1pp12.2%▼ 0.2pp
Equity€1.0m-€1.5m▲ 50.9%€2.7m▲ 86.2%€4.0m▲ 46.9%€5.3m▲ 32.1%
Total assets€5.0m-€5.3m▲ 7.6%€7.7m▲ 44.5%€7.8m▲ 0.6%€8.8m▲ 12.7%
Debt€4.0m-€3.9m▼ 2.8%€5.0m▲ 28.8%€3.8m▼ 24.6%€3.5m▼ 7.9%
Working capital€1.4m-€1.9m▲ 38.9%€3.7m▲ 95.3%€4.8m▲ 28.9%€5.8m▲ 21.5%
Staff (FTE)19.5-20.8▲ 6.7%18.8▼ 9.6%17▼ 9.6%17.1▲ 0.6%
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €8.8m
Fixed assets
€331,230 ▲ 2.6%
Current assets
€8.4m ▲ 13.1%
Equity and liabilities €8.8m
Equity
€5.3m ▲ 32.1%
Debt
€3.5m ▼ 7.9%
Debt's share of the balance-sheet total falls from 48.6% to 39.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.0m▲
2021 · €1.9m
Cash flow
€1.4m▲
2021 · €1.4m
Current ratio
3.27▲
2021 · 2.83
Quick ratio
2.94▲
2021 · 2.44
Debt to equity
0.66▼
2021 · 0.94
ROE
24.3%▼
2021 · 31.9%
ROA
14.7%▼
2021 · 16.4%
Interest coverage
over 100
2021 · over 100
Debt ≤ 1 year
€2.6m▼
2021 · €2.6m
Debt > 1 year
€610,636▲
2021 · €588,772
Income taxes
€511,455▲
2021 · €484,835
Customer credit
33 days▼
2021 · 36 days
Supplier credit
52 days▼
2021 · 66 days
Staff costs
€1.3m▼
2021 · €1.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Subsidies and aid
Flemish government
2022 · 1 entry · €1,780 awarded · €1,780 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €14.3m | €15.2m | ▲ 5.9% |
| Turnover70 | €15.1m | €16.3m | €13.3m | €14.2m | €15.1m | ▲ 6.2% |
| Other operating income74 | - | - | - | €0.08m | €0.06m | ▼ 30.1% |
| Non-recurring operating income76A | - | - | - | €0.01m | - | - |
| Operating charges60/66A | - | - | - | €12.6m | €13.3m | ▲ 6.1% |
| Goods for resale, raw materials and consumables60 | - | - | - | €9.1m | €9.9m | ▲ 8.7% |
| Purchases600/8 | - | - | - | €9.4m | €9.8m | ▲ 4.8% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.2m | €0.1m | - |
| Services and other goods61 | - | - | - | €1.9m | €2.0m | ▲ 2.0% |
| Remuneration, social security and pensions62 | - | - | - | €1.4m | €1.3m | ▼ 9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.09m | €0.08m | €0.1m | €0.1m | ▲ 0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.07m | - |
| Other operating charges640/8 | - | - | - | €0.02m | €0.03m | ▲ 45.8% |
| Non-recurring operating charges66A | - | - | - | €0.006m | €0.006m | ▲ 7.1% |
| Operating profit (loss)9901 | €0.5m | €1.6m | €2.2m | €1.8m | €1.8m | ▲ 4.5% |
| Financial income75/76B | - | - | - | €0.005m | €0.001m | ▼ 86.0% |
| Recurring financial income75 | €0.02m | €0.02m | €0.02m | €0.005m | €0.001m | ▼ 86.0% |
| Income from financial fixed assets750 | - | - | - | €10 | - | - |
| Income from current assets751 | - | - | - | €0.005m | €422 | ▼ 90.8% |
| Other financial income752/9 | - | - | - | €0.001m | €332 | ▼ 57.9% |
| Financial charges65/66B | - | - | - | €0.01m | €0.05m | ▲ 382% |
| Recurring financial charges65 | €0.01m | €0.01m | €0.009m | €0.01m | €0.01m | ▲ 25.6% |
| Debt charges650 | €0.001m | €0.002m | €0.002m | €0.002m | €0.005m | ▲ 174% |
| Other financial charges652/9 | - | - | - | €0.008m | €0.008m | ▼ 6.5% |
| Non-recurring financial charges66B | - | - | - | - | €0.04m | - |
| Profit (loss) for the period before taxes9903 | €0.5m | €1.6m | €2.2m | €1.8m | €1.8m | ▲ 2.0% |
| Income taxes67/77 | €0.1m | €0.3m | €0.5m | €0.5m | €0.5m | ▲ 5.5% |
| Taxes670/3 | - | - | - | €0.5m | €0.5m | ▲ 5.5% |
| Profit (loss) for the period9904 | €0.4m | €1.3m | €1.7m | €1.3m | €1.3m | ▲ 0.7% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €1.3m | €1.7m | €1.3m | €1.3m | ▲ 0.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.0m | €5.3m | €7.7m | €7.8m | €8.8m | ▲ 12.7% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | ▲ 2.6% |
| Intangible fixed assets21 | €0.01m | €0.007m | €0.003m | €0.001m | - | - |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.8% |
| Plant, machinery and equipment23 | - | - | - | €0.04m | €0.02m | ▼ 53.0% |
| Furniture and vehicles24 | - | - | - | €0.2m | €0.2m | ▲ 18.0% |
| Other tangible fixed assets26 | - | - | - | €0.09m | €0.08m | ▼ 9.3% |
| Financial fixed assets28 | €0.06m | €0.05m | €0.04m | €0.04m | €0.05m | ▲ 31.1% |
| Other financial fixed assets284/8 | - | - | - | €0.04m | €0.05m | ▲ 31.1% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.04m | €0.05m | ▲ 31.1% |
| Current assets29/58 | €4.6m | €5.0m | €7.4m | €7.4m | €8.4m | ▲ 13.1% |
| Amounts receivable after more than one year29 | - | - | - | €3.8m | €3.8m | ▲ 2.2% |
| Other amounts receivable291 | - | - | - | €3.8m | €3.8m | ▲ 2.2% |
| Stocks and contracts in progress3 | €1.2m | €0.8m | €0.8m | €1.0m | €0.8m | ▼ 16.7% |
| Stocks30/36 | - | - | - | €1.0m | €0.8m | ▼ 16.7% |
| Goods purchased for resale34 | - | - | - | €1.0m | €0.8m | ▼ 16.7% |
| Amounts receivable within one year40/41 | €1.6m | €1.6m | €1.6m | €1.9m | €2.7m | ▲ 41.9% |
| Trade receivables40 | - | - | - | €1.4m | €1.4m | ▼ 3.9% |
| Other amounts receivable41 | - | - | - | €0.5m | €1.4m | ▲ 172% |
| Cash at bank and in hand54/58 | €0.7m | €1.2m | €1.9m | €0.8m | €1.0m | ▲ 34.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.0m | €5.3m | €7.7m | €7.8m | €8.8m | ▲ 12.7% |
| Equity10/15 | €1.0m | €1.5m | €2.7m | €4.0m | €5.3m | ▲ 32.1% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | - | €0.4m | €0.4m | = |
| Issued capital100 | - | - | - | €0.4m | €0.4m | = |
| Reserves13 | €0.6m | €1.1m | €2.3m | €3.5m | €4.8m | ▲ 36.8% |
| Non-distributable reserves130/1 | - | - | - | €0.04m | €0.04m | = |
| Legal reserve130 | - | - | - | €0.04m | €0.04m | = |
| Distributable reserves133 | - | - | - | €3.5m | €4.8m | ▲ 37.1% |
| Profit (loss) carried forward14 | €0.02m | €0.01m | €0.02m | €0.1m | €0.08m | ▼ 16.2% |
| Amounts payable17/49 | €4.0m | €3.9m | €5.0m | €3.8m | €3.5m | ▼ 7.9% |
| Amounts payable after more than one year17 | €0.8m | €0.5m | €1.1m | €0.6m | €0.6m | ▲ 3.7% |
| Financial debts170/4 | - | - | - | €0.6m | €0.6m | ▲ 3.7% |
| Credit institutions173 | - | - | - | €0.03m | €0.05m | ▲ 68.8% |
| Other loans174 | - | - | - | €0.6m | €0.6m | = |
| Amounts payable within one year42/48 | €3.2m | €3.1m | €3.6m | €2.6m | €2.6m | ▼ 2.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.2m | ▲ 180% |
| Trade debts44 | €2.5m | €1.7m | €2.2m | €1.6m | €1.4m | ▼ 15.0% |
| Suppliers440/4 | - | - | - | €1.6m | €1.4m | ▼ 15.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.9m | €1.0m | ▲ 7.7% |
| Taxes450/3 | - | - | - | €0.7m | €0.8m | ▲ 10.2% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.2m | ▼ 4.2% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.01m | ▼ 9.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.6m | €0.3m | ▼ 47.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €1.3m | €1.7m | €1.3m | €1.3m | ▲ 0.7% |
| + Depreciation and write-downs630 | €0.2m | €0.09m | €0.08m | €0.1m | €0.1m | ▲ 0.2% |
| Operating cash flow (approximation) | €0.5m | €1.4m | €1.8m | €1.4m | €1.4m | ▲ 0.7% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.1m | -€0.07m | -€0.1m | ▼ 79.7% |
| Change in cash | - | €0.5m | €0.7m | -€1.2m | €0.3m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | full format | 30-08-2023 | 2023-00402098 | |
| 31-12-2021 | full format | 11-07-2022 | 2022-20170805 | |
| 31-12-2020 | full format | 25-06-2021 | 2021-25200445 | |
| 31-12-2019 | full format | 23-06-2020 | 2020-19500539 | |
| 31-12-2018 | full format | 06-06-2019 | 2019-16600299 | |
| 31-12-2017 | full format | 12-07-2018 | 2018-32900355 | |
| 31-12-2016 | full format | 24-07-2017 | 2017-37100293 | |
| 31-12-2015 | full format | 20-10-2016 | 2016-65900518 | |
| 30-09-2014 | abbreviated format | 20-05-2015 | 2015-12000563 | |
| 30-09-2013 | abbreviated format | 18-02-2014 | 2014-03700017 |