INDICATOR

Inactive

KBO/BCE: BE 0887.611.663

Inactive; last annual accounts for fiscal year 2016.

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INDICATORInactive

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Signals

1 signal. The signal on the left, the evidence on the right.

○neutral

Latest accounts filed on time

The financial year that closed on 31-12-2016 was due by 31-07-2017 and was filed on 10-05-2017, 82 days ahead of the deadline.

NBB · 8 filings

Deviation from the deadline

2016

82 d early

2015

73 d early

2014

50 d early

2013

49 d early

2012

49 d early

2011

48 d early

2010

47 d early

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2016, full schema, statutory accounts

Turnover

€11.42M▼ 1.4%

2015 · €11.59M

2015: €11.59M 2016: €11.42M▼ -1.4% vs 2015

2015 → 2016

EBIT margin

7.4%▲ 1.9pp

2015 · 5.5%

2015: 5.5% 2016: 7.4%▲ +35.5% vs 2015

2015 → 2016

Net result

€795k▼ 32.6%

2015 · €1.18M

2012: €3.09Mhighest in 5 years 2013: €-8k▼ -100% vs 2012 2014: €-12k▼ -50.4% vs 2013lowest in 5 years 2015: €1.18M▲ +9635% vs 2014 2016: €795k▼ -32.6% vs 2015

2012 → 2016

Working capital

€5.89M▲ 16.8%

2015 · €5.04M

2012: €125k 2013: €4k▼ -97.1% vs 2012 2014: €-501▼ -114% vs 2013lowest in 5 years 2015: €5.04M▲ +1006308% vs 2014 2016: €5.89M▲ +16.8% vs 2015highest in 5 years

2012 → 2016

Trend over the years

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20122013201420152016Trend

Turnover€11.59M€11.42M▼ 1.4% 2015: €11.59M 2016: €11.42M▼ -1.4% vs 2015

Equity€8.03M-€8.03M▼ 0.1%€8.01M▼ 0.2%€9.19M▲ 14.7%€9.99M▲ 8.6% 2012: €8.03M 2013: €8.03M▼ -0.1% vs 2012 2014: €8.01M▼ -0.2% vs 2013lowest in 5 years 2015: €9.19M▲ +14.7% vs 2014 2016: €9.99M▲ +8.6% vs 2015highest in 5 years

Operating result€-31k-€-7k▲ 77.3%€-11k▼ 58.7%€634k€847k▲ 33.6% 2012: €-31klowest in 5 years 2013: €-7k▲ +77.3% vs 2012 2014: €-11k▼ -58.7% vs 2013 2015: €634k▲ +5837% vs 2014 2016: €847k▲ +33.6% vs 2015highest in 5 years

Net result€3.09M-€-8k€-12k▼ 50.4%€1.18M€795k▼ 32.6% 2012: €3.09Mhighest in 5 years 2013: €-8k▼ -100% vs 2012 2014: €-12k▼ -50.4% vs 2013lowest in 5 years 2015: €1.18M▲ +9635% vs 2014 2016: €795k▼ -32.6% vs 2015

Result per fiscal year

Operating resultNet result

After the dip in 2014 the operating result has climbed two years in a row; 2016 is 34% above 2015 and is the highest result in the available series.

Balance-sheet composition

2016 in colour, 2015 as the grey bar beneath

Assets €15.79M

50.4%

49.6%

Fixed assets €7.95M ▼ 0.6%

Current assets €7.84M ▼ 18.7%

Equity and liabilities €15.79M

63.3%

36.7%

Equity €9.99M ▲ 8.6%

Debt €5.80M ▼ 31.3%

Debt's share of the balance-sheet total falls from 47.9% to 36.7%. Equity is higher and debt is lower.

Key figures and ratios

2016 value · change against 2015

EBITDA

€957k▲

2015 · €769k

Cash flow

€905k▼

2015 · €1.31M

Current ratio

4.02▲

2015 · 2.09

Quick ratio

3.95▲

2015 · 2.06

ROE

8.0%▼

2015 · 12.8%

ROA

5.0%▼

2015 · 6.7%

Interest coverage

37.58▲

2015 · 17.24

Debt ≤ 1 year

€1.95M▼

2015 · €4.60M

Income taxes

€41k▲

2015 · €-2k

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

As filed By statement

Filed annual accounts As filed with the NBB · 2016 against 2015 · 28 lines

Balance sheet Code20152016

Assets

Total assets20/58€17.64M€15.79M▼

Fixed assets21/28€8.00M€7.95M▼

Intangible fixed assets21€78k€84k▲

Tangible fixed assets22/27€135k€83k▼

Financial fixed assets28€7.78M€7.78M=

Current assets29/58€9.64M€7.84M▼

Stocks and contracts in progress3€183k€131k▼

Amounts receivable within one year40/41€5.39M€5.87M▲

Current investments50/53€3.89M€1.64M▼

Cash at bank and in hand54/58€74k€77k▲

Equity and liabilities

Total equity and liabilities10/49€17.64M€15.79M▼

Equity10/15€9.19M€9.99M▲

Contributions10/11€4.77M€4.77M=

Reserves13€4.42M€5.22M▲

Profit (loss) carried forward14€-8k€-21k▼

Amounts payable17/49€8.45M€5.80M▼

Amounts payable within one year42/48€4.60M€1.95M▼

Trade debts44€895k€841k▼

Income statement Code20152016

Turnover70€11.59M€11.42M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€135k€110k▼

Operating profit (loss)9901€634k€847k▲

Recurring financial income75€42k€41k▼

Recurring financial charges65€61k€53k▼

Debt charges650€45k€25k▼

Profit (loss) for the period before taxes9903€1.18M€836k▼

Income taxes67/77€-2k€41k▲

Profit (loss) for the period9904€1.18M€795k▼

Profit (loss) for the period to be appropriated9905€1.18M€795k▼

Accounts by statement

Income statement Balance sheet Cash flow

Line	2012	2013	2014	2015	2016	Change
Turnover70	-	-	-	€11.59M	€11.42M	▼ 1.4%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€6k	-	-	€135k	€110k	▼ 18.7%
Operating profit (loss)9901	€-31k	€-7k	€-11k	€634k	€847k	▲ 33.6%
Recurring financial income75	€3.20M	€29	€1	€42k	€41k	▼ 1.2%
Recurring financial charges65	€82k	€1k	€1k	€61k	€53k	▼ 12.7%
Debt charges650	€81k	€1k	€1k	€45k	€25k	▼ 42.9%
Profit (loss) for the period before taxes9903	€3.09M	€-8k	€-12k	€1.18M	€836k	▼ 29.0%
Income taxes67/77	-	€-14	€0	€-2k	€41k	▲ 2,800%
Profit (loss) for the period9904	€3.09M	€-8k	€-12k	€1.18M	€795k	▼ 32.6%
Profit (loss) for the period to be appropriated9905	€3.09M	€-8k	€-12k	€1.18M	€795k	▼ 32.6%

Line	2012	2013	2014	2015	2016	Change
Assets
Total assets20/58	€9.13M	€9.01M	€9.01M	€17.64M	€15.79M	▼ 10.5%
Fixed assets21/28	€9.01M	€9.01M	€9.01M	€8.00M	€7.95M	▼ 0.6%
Intangible fixed assets21	-	-	-	€78k	€84k	▲ 8.4%
Tangible fixed assets22/27	-	-	-	€135k	€83k	▼ 38.4%
Financial fixed assets28	€9.01M	€9.01M	€9.01M	€7.78M	€7.78M	=
Current assets29/58	€125k	€6k	€2k	€9.64M	€7.84M	▼ 18.7%
Stocks and contracts in progress3	-	-	-	€183k	€131k	▼ 28.4%
Amounts receivable within one year40/41	-	-	-	€5.39M	€5.87M	▲ 9.0%
Current investments50/53	-	-	-	€3.89M	€1.64M	▼ 57.7%
Cash at bank and in hand54/58	€125k	€6k	€2k	€74k	€77k	▲ 4.4%
Equity and liabilities
Total equity and liabilities10/49	€9.13M	€9.01M	€9.01M	€17.64M	€15.79M	▼ 10.5%
Equity10/15	€8.03M	€8.03M	€8.01M	€9.19M	€9.99M	▲ 8.6%
Contributions10/11	€4.77M	€4.77M	€4.77M	€4.77M	€4.77M	=
Reserves13	€3.27M	€3.27M	€3.27M	€4.42M	€5.22M	▲ 18.0%
Profit (loss) carried forward14	€-1.95M	€-8k	€-21k	€-8k	€-21k	▼ 150%
Amounts payable17/49	€1.10M	€985k	€993k	€8.45M	€5.80M	▼ 31.3%
Amounts payable after more than one year17	€1.09M	€981k	€991k	-	-	-
Amounts payable within one year42/48	€256	€2k	€2k	€4.60M	€1.95M	▼ 57.7%
Trade debts44	€256	€2k	€2k	€895k	€841k	▼ 6.0%

Line	2012	2013	2014	2015	2016	Change
Profit (loss) for the period9904	€3.09M	€-8k	€-12k	€1.18M	€795k	▼ 32.6%
+ Depreciation and write-downs630	€6k	-	-	€135k	€110k	▼ 18.7%
Operating cash flow (approximation)	€3.09M	€-8k	€-12k	€1.31M	€905k	▼ 31.1%
Investment in fixed assets (approximation)	-	€0	€0	€873k	€-65k	▼ 107%
Change in cash	-	€-120k	€-4k	€72k	€3k	▼ 95.5%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Timeline · acts, filings and financial milestones

All 17Financial 3Gazette 4Filings 10

2017

04-08

State Gazette act General meeting · Merger

Merger balance sheet · Capital increase

04-08

State Gazette act General meeting · Merger

Net-asset statement · Accounting effect

31-05

State Gazette act Merger · Corporate purpose

Net-asset statement · Share issue

31-05

State Gazette act Merger · Corporate purpose

Net-asset statement · Share issue

10-05

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

19-05

NBB filing Annual accounts filed

fiscal year 2015 · full schema

2015

31-12

Financial Back to profitnet €1.18M

Net result €1.18M after 2 loss-making years.

31-12

Financial Liquidity triplescurrent ratio 2.09

Current ratio from 0.76 to 2.09.

11-06

NBB filing Annual accounts filed

fiscal year 2014 · full schema

2014

31-12

Financial Weakest financial yearnet €-12k

Net result drops to €-12k, the lowest in the series.

12-06

NBB filing Annual accounts filed

fiscal year 2013 · full schema

2013

12-06

NBB filing Annual accounts filed

fiscal year 2012 · full schema

Show earlier events

2012

13-06

NBB filing Annual accounts filed

fiscal year 2011 · full schema

13-06

NBB filing Annual accounts filed

fiscal year 2011 · consolidated

2011

14-06

NBB filing Annual accounts filed

fiscal year 2010 · full schema

14-06

NBB filing Annual accounts filed

fiscal year 2010 · consolidated

2010

16-06

NBB filing Annual accounts filed

fiscal year 2009 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 13 acts read

About the unread acts

We know of 13 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Structure & network

Acquisitions and mergers

1 transaction

Taken over by:GROEP LARCIER

BE 0436.181.878merger by absorption · State Gazette act of 04-08-2017 (4 acts) · effective 03-07-2017