WESTERLUND GROUP
InactiveNo longer registered with the KBO; last annual accounts for fiscal year 2020.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline14-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 31-05-2021, 61 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
61 d early
2019
59 d late
← before the deadline
after the deadline →
Financials · fiscal year 2020, full schema
Turnover
€3.97M▲ 1.2%
2019 · €3.92M
2018: €3.82M
2019: €3.92M
2018 → 2020
EBIT margin
49.8%▼ 2.2pp
2019 · 52.1%
2018: 52.1%
2019: 52.1%
2018 → 2020
Net result
€-376k
2019 · €432k
2018: €1,000k
2019: €432k
2018 → 2020
Working capital
€-1.52M▲ 7.3%
2019 · €-1.64M
2018: €-1.93M
2019: €-1.64M
2018 → 2020
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201820192020Trend
Turnover€3.82M-€3.92M▲ 2.8%€3.97M▲ 1.2%
Equity€15.44M-€48.87M▲ 217%€122.50M▲ 151%
Operating result€1.99M-€2.04M▲ 2.7%€1.98M▼ 3.1%
Net result€1,000k-€432k▼ 56.8%€-376k
Result per fiscal year
Operating resultNet result
The operating result falls in 2020; 2020 is 3% below 2019 and is the lowest year so far.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €164.22M
Fixed assets
€155.54M▲ 91.7%
Current assets
€8.68M▼ 18.1%
Equity and liabilities €164.22M
Equity
€122.50M▲ 151%
Provisions
€816k▼ 7.2%
Debt
€40.91M▼ 2.6%
The debt ratio falls from 45.8% to 24.9%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€2.31M▼
2019 · €2.38M
Cash flow
€-41k▼
2019 · €771k
Solvency
74.6%▲
2019 · 53.3%
Current ratio
0.85▼
2019 · 0.87
Quick ratio
0.85▼
2019 · 0.87
Debt / equity
0.24▼
2019 · 0.59
ROE
-0.3%▼
2019 · 0.9%
ROA
-0.2%▼
2019 · 0.5%
Interest coverage
1.11▼
2019 · 1.65
Debt
€40.91M▼
2019 · €41.99M
Debt ≤ 1 year
€10.20M▼
2019 · €12.23M
Debt > 1 year
€29.03M=
2019 · €29.03M
Income taxes
€333k▲
2019 · €243k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2020 against 2019
Balance sheet
Code20192020
Assets
Total assets20/58€91.75M€164.22M▲
Fixed assets21/28€81.15M€155.54M▲
Tangible fixed assets22/27€2.65M€3.04M▲
Financial fixed assets28€78.50M€152.50M▲
Current assets29/58€10.59M€8.68M▼
Amounts receivable within one year40/41€10.36M€8.58M▼
Cash at bank and in hand54/58€2k€395▼
Equity and liabilities
Total equity and liabilities10/49€91.75M€164.22M▲
Equity10/15€48.87M€122.50M▲
Contributions10/11€34.00M€108.00M▲
Reserves13€1.32M€1.24M▼
Profit (loss) carried forward14€13.20M€12.91M▼
Provisions and deferred taxes16€880k€816k▼
Amounts payable17/49€41.99M€40.91M▼
Amounts payable after more than one year17€29.03M€29.03M=
Amounts payable within one year42/48€12.23M€10.20M▼
Trade debts44€961k€737k▼
Income statement
Code20192020
Turnover70€3.92M€3.97M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€339k€335k▼
Operating profit (loss)9901€2.04M€1.98M▼
Recurring financial income75€32€4k▲
Recurring financial charges65€1.44M€2.09M▲
Debt charges650€1.44M€2.09M▲
Profit (loss) for the period before taxes9903€599k€-107k▼
Income taxes67/77€243k€333k▲
Profit (loss) for the period9904€432k€-376k▼
Profit (loss) for the period to be appropriated9905€527k€-296k▼
Timeline · acts, filings and financial milestones
2021
10-11
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
22-10
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
02-09
State Gazette act
General meeting · Merger
Capital increase · Purpose change · Johan Kiebooms
24-06
State Gazette act
Merger · Corporate purpose
Purpose change · Accounting effect
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €-376k ▼187%
Net result drops to €-376k, the lowest in the series.
31-12
Financial
Equity above €100MEq €122.50M ▲151%
Equity rises from €48.87M to €122.50M.
23-10
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
14-10
State Gazette act
General meeting · Capital increase
Capital · Corporate purpose · Johan Kiebooms
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
05-08
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2019
31-12
Financial
Equity above €25MEq €48.87M ▲217%
2 profitable years in a row build equity to €48.87M.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
10-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
12-06
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
11-06
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
28-01
State Gazette act
General meeting · Capital increase
Capital · Statutes amendment · Frederik VLAMINCK
28-01
State Gazette act
General meeting · Capital increase
Capital · Statutes amendment · Frederik VLAMINCK
2013
17-07
NBB filing
Annual accounts filed
fiscal year 2012 · full schema
2012
27-06
NBB filing
Annual accounts filed
fiscal year 2011 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Structure & network
Acquisitions and mergers
1 transactionTaken over by:EUROPORTS TERMINALS LEFTBANK