KORAMIC REAL ESTATE
InactiveInactive; last annual accounts for fiscal year 2021.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 01-07-2022, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2021
30 d early
2020
32 d early
2019
16 d early
2018
37 d early
2017
36 d early
2016
25 d early
2015
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, full schema
Turnover
€14.47M▲ 54.6%
2020 · €9.36M
2018: €22.03Mhighest in 4 years
2019: €14.20M▼ -35.5% vs 2018
2020: €9.36M▼ -34.1% vs 2019lowest in 4 years
2021: €14.47M▲ +54.6% vs 2020
2018 → 2021
EBIT margin
18.8%▼ 58.3pp
2020 · 77.1%
2018: 17.1%lowest in 4 years
2019: 34.7%▲ +103% vs 2018
2020: 77.1%▲ +122% vs 2019highest in 4 years
2021: 18.8%▼ -75.6% vs 2020
2018 → 2021
Net result
€4.71M▼ 38.2%
2020 · €7.62M
2018: €6.97M
2019: €12.17M▲ +74.7% vs 2018highest in 4 years
2020: €7.62M▼ -37.4% vs 2019
2021: €4.71M▼ -38.2% vs 2020lowest in 4 years
2018 → 2021
Working capital
€-10.52M
2020 · €13.62M
2018: €6.61M
2019: €-8.52M▼ -229% vs 2018
2020: €13.62M▲ +260% vs 2019highest in 4 years
2021: €-10.52M▼ -177% vs 2020lowest in 4 years
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Turnover€22.03M-€14.20M▼ 35.5%€9.36M▼ 34.1%€14.47M▲ 54.6%
2018: €22.03Mhighest in 4 years
2019: €14.20M▼ -35.5% vs 2018
2020: €9.36M▼ -34.1% vs 2019lowest in 4 years
2021: €14.47M▲ +54.6% vs 2020
Equity€134.11M-€126.28M▼ 5.8%€133.88M▲ 6.0%€136.85M▲ 2.2%
2018: €134.11M
2019: €126.28M▼ -5.8% vs 2018lowest in 4 years
2020: €133.88M▲ +6.0% vs 2019
2021: €136.85M▲ +2.2% vs 2020highest in 4 years
Operating result€3.76M-€4.93M▲ 30.9%€7.22M▲ 46.5%€2.72M▼ 62.3%
2018: €3.76M
2019: €4.93M▲ +30.9% vs 2018
2020: €7.22M▲ +46.5% vs 2019highest in 4 years
2021: €2.72M▼ -62.3% vs 2020lowest in 4 years
Net result€6.97M-€12.17M▲ 74.7%€7.62M▼ 37.4%€4.71M▼ 38.2%
2018: €6.97M
2019: €12.17M▲ +74.7% vs 2018highest in 4 years
2020: €7.62M▼ -37.4% vs 2019
2021: €4.71M▼ -38.2% vs 2020lowest in 4 years
Result per fiscal year
Operating resultNet result
The operating result falls in 2021; 2021 is 62% below 2020 and is the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €257.55M
Fixed assets
€209.16M ▲ 3.3%
Current assets
€48.39M ▲ 65.1%
Equity and liabilities €257.57M
Equity
€136.85M ▲ 2.2%
Provisions
€3.66M ▲ 14.2%
Debt
€117.06M ▲ 23.6%
Debt's share of the balance-sheet total rises from 40.9% to 45.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6.26M▼
2020 · €10.21M
Cash flow
€8.25M▼
2020 · €10.61M
Current ratio
0.82▼
2020 · 1.87
Quick ratio
0.48▼
2020 · 1.00
Debt to equity
0.86▲
2020 · 0.59
ROE
3.4%▼
2020 · 5.7%
ROA
1.8%▼
2020 · 3.3%
Interest coverage
3.31▼
2020 · 5.14
Debt ≤ 1 year
€58.90M▲
2020 · €15.68M
Debt > 1 year
€57.71M▼
2020 · €78.74M
Income taxes
€204k▲
2020 · €110k
Staff costs
€165
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 97 lines
Balance sheet
Code20202021
Assets
Total assets20/58€231.82M€257.57M▲
Formation expenses20€45k€22k▼
Fixed assets21/28€202.48M€209.16M▲
Intangible fixed assets21€322k€234k▼
Tangible fixed assets22/27€82.48M€92.01M▲
Land and buildings22-€88.85M
Plant, machinery and equipment23-€530k
Furniture and vehicles24-€84k
Other tangible fixed assets26-€1.73M
Assets under construction and advance payments27-€811k
Financial fixed assets28€119.67M€116.92M▼
Affiliated companies280/1-€112.12M
Participating interests280-€30.15M
Amounts receivable281-€81.97M
Companies linked by participating interests282/3-€4.75M
Participating interests282-€1.56M
Amounts receivable283-€3.20M
Other financial fixed assets284/8-€49k
Shares284-€42k
Amounts receivable and cash guarantees285/8-€6k
Current assets29/58€29.30M€48.39M▲
Amounts receivable after more than one year29-€30k
Other amounts receivable291-€30k
Stocks and contracts in progress3€13.67M€19.88M▲
Stocks30/36-€19.88M
Property held for sale35-€19.88M
Amounts receivable within one year40/41€14.89M€25.03M▲
Trade receivables40-€1.04M
Other amounts receivable41-€23.98M
Cash at bank and in hand54/58€581k€3.34M▲
Deferred charges and accrued income490/1-€120k
Equity and liabilities
Total equity and liabilities10/49€231.82M€257.57M▲
Equity10/15€133.88M€136.85M▲
Contributions10/11€20.13M€20.13M=
Capital10-€20.13M
Issued capital100-€20.13M
Revaluation surpluses12-€7.95M
Reserves13€24.77M€26.14M▲
Non-distributable reserves130/1-€2.01M
Legal reserve130-€2.01M
Tax-exempt reserves132-€13.41M
Distributable reserves133-€10.72M
Profit (loss) carried forward14€79.28M€82.63M▲
Provisions and deferred taxes16€3.20M€3.66M▲
Deferred taxes168-€3.66M
Amounts payable17/49€94.74M€117.06M▲
Amounts payable after more than one year17€78.74M€57.71M▼
Financial debts170/4-€57.71M
Credit institutions173-€40.63M
Other loans174-€17.08M
Amounts payable within one year42/48€15.68M€58.90M▲
Current portion of amounts payable after more than one year42-€34.71M
Financial debts43-€12.90M
Credit institutions430/8-€12.90M
Trade debts44€2.01M€1.57M▼
Suppliers440/4-€1.57M
Other amounts payable47/48-€9.72M
Accrued charges and deferred income492/3-€448k
Income statement
Code20202021
Operating income70/76A-€16.88M
Turnover70€9.36M€14.47M▲
Change in stocks of work in progress, finished goods and contracts in progress71-€-4k
Other operating income74-€84k
Non-recurring operating income76A-€2.32M
Operating charges60/66A-€14.16M
Goods for resale, raw materials and consumables60-€3.38M
Purchases600/8-€9.58M
Change in stocks: decrease (increase)609-€-6.20M
Services and other goods61-€5.94M
Remuneration, social security and pensions62-€165
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.99M€3.54M▲
Other operating charges640/8-€1.30M
Non-recurring operating charges66A-€426
Operating profit (loss)9901€7.22M€2.72M▼
Financial income75/76B-€4.85M
Recurring financial income75€4.63M€4.78M▲
Income from financial fixed assets750-€4.73M
Income from current assets751-€51k
Other financial income752/9-€16
Non-recurring financial income76B-€64k
Financial charges65/66B-€2.20M
Recurring financial charges65€2.04M€1.93M▼
Debt charges650€1.99M€1.89M▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651-€11k
Other financial charges652/9-€28k
Non-recurring financial charges66B-€269k
Profit (loss) for the period before taxes9903€9.65M€5.37M▼
Transfer from deferred taxes780-€127k
Transfer to deferred taxes680-€581k
Income taxes67/77€110k€204k▲
Taxes670/3-€205k
Tax adjustments and reversals of tax provisions77-€1k
Profit (loss) for the period9904€7.62M€4.71M▼
Transfer from tax-exempt reserves789-€380k
Transfer to tax-exempt reserves689-€1.74M
Profit (loss) for the period to be appropriated9905€1.87M€3.35M▲
Appropriation of the result
Profit (loss) to be appropriated9906-€82.63M
Profit (loss) brought forward from the previous period14P-€79.28M
The notes to these accounts (107 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €16.88M | - |
| Turnover70 | €22.03M | €14.20M | €9.36M | €14.47M | ▲ 54.6% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €-4k | - |
| Other operating income74 | - | - | - | €84k | - |
| Non-recurring operating income76A | - | - | - | €2.32M | - |
| Operating charges60/66A | - | - | - | €14.16M | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €3.38M | - |
| Purchases600/8 | - | - | - | €9.58M | - |
| Change in stocks: decrease (increase)609 | - | - | - | €-6.20M | - |
| Services and other goods61 | - | - | - | €5.94M | - |
| Remuneration, social security and pensions62 | - | - | - | €165 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3.23M | €3.28M | €2.99M | €3.54M | ▲ 18.5% |
| Other operating charges640/8 | - | - | - | €1.30M | - |
| Non-recurring operating charges66A | - | - | - | €426 | - |
| Operating profit (loss)9901 | €3.76M | €4.93M | €7.22M | €2.72M | ▼ 62.3% |
| Financial income75/76B | - | - | - | €4.85M | - |
| Recurring financial income75 | €2.92M | €10.14M | €4.63M | €4.78M | ▲ 3.2% |
| Income from financial fixed assets750 | - | - | - | €4.73M | - |
| Income from current assets751 | - | - | - | €51k | - |
| Other financial income752/9 | - | - | - | €16 | - |
| Non-recurring financial income76B | - | - | - | €64k | - |
| Financial charges65/66B | - | - | - | €2.20M | - |
| Recurring financial charges65 | €2.27M | €2.44M | €2.04M | €1.93M | ▼ 5.5% |
| Debt charges650 | €2.11M | €2.12M | €1.99M | €1.89M | ▼ 4.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €11k | - |
| Other financial charges652/9 | - | - | - | €28k | - |
| Non-recurring financial charges66B | - | - | - | €269k | - |
| Profit (loss) for the period before taxes9903 | €7.26M | €12.50M | €9.65M | €5.37M | ▼ 44.3% |
| Transfer from deferred taxes780 | - | - | - | €127k | - |
| Transfer to deferred taxes680 | - | - | - | €581k | - |
| Income taxes67/77 | €441k | €477k | €110k | €204k | ▲ 85.3% |
| Taxes670/3 | - | - | - | €205k | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €1k | - |
| Profit (loss) for the period9904 | €6.97M | €12.17M | €7.62M | €4.71M | ▼ 38.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €380k | - |
| Transfer to tax-exempt reserves689 | - | - | - | €1.74M | - |
| Profit (loss) for the period to be appropriated9905 | €7.32M | €12.52M | €1.87M | €3.35M | ▲ 79.3% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €217.10M | €231.17M | €231.82M | €257.57M | ▲ 11.1% |
| Formation expenses20 | €89k | €67k | €45k | €22k | ▼ 50.0% |
| Fixed assets21/28 | €188.74M | €199.61M | €202.48M | €209.16M | ▲ 3.3% |
| Intangible fixed assets21 | €237k | €232k | €322k | €234k | ▼ 27.2% |
| Tangible fixed assets22/27 | €99.10M | €91.77M | €82.48M | €92.01M | ▲ 11.5% |
| Land and buildings22 | - | - | - | €88.85M | - |
| Plant, machinery and equipment23 | - | - | - | €530k | - |
| Furniture and vehicles24 | - | - | - | €84k | - |
| Other tangible fixed assets26 | - | - | - | €1.73M | - |
| Assets under construction and advance payments27 | - | - | - | €811k | - |
| Financial fixed assets28 | €89.41M | €107.61M | €119.67M | €116.92M | ▼ 2.3% |
| Affiliated companies280/1 | - | - | - | €112.12M | - |
| Participating interests280 | - | - | - | €30.15M | - |
| Amounts receivable281 | - | - | - | €81.97M | - |
| Companies linked by participating interests282/3 | - | - | - | €4.75M | - |
| Participating interests282 | - | - | - | €1.56M | - |
| Amounts receivable283 | - | - | - | €3.20M | - |
| Other financial fixed assets284/8 | - | - | - | €49k | - |
| Shares284 | - | - | - | €42k | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €6k | - |
| Current assets29/58 | €28.27M | €31.50M | €29.30M | €48.39M | ▲ 65.1% |
| Amounts receivable after more than one year29 | - | - | - | €30k | - |
| Other amounts receivable291 | - | - | - | €30k | - |
| Stocks and contracts in progress3 | €7.96M | €13.51M | €13.67M | €19.88M | ▲ 45.4% |
| Stocks30/36 | - | - | - | €19.88M | - |
| Property held for sale35 | - | - | - | €19.88M | - |
| Amounts receivable within one year40/41 | €18.03M | €12.30M | €14.89M | €25.03M | ▲ 68.0% |
| Trade receivables40 | - | - | - | €1.04M | - |
| Other amounts receivable41 | - | - | - | €23.98M | - |
| Cash at bank and in hand54/58 | €775k | €706k | €581k | €3.34M | ▲ 475% |
| Deferred charges and accrued income490/1 | - | - | - | €120k | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €217.10M | €231.17M | €231.82M | €257.57M | ▲ 11.1% |
| Equity10/15 | €134.11M | €126.28M | €133.88M | €136.85M | ▲ 2.2% |
| Contributions10/11 | €20.13M | €20.13M | €20.13M | €20.13M | = |
| Capital10 | - | - | - | €20.13M | - |
| Issued capital100 | - | - | - | €20.13M | - |
| Revaluation surpluses12 | - | - | - | €7.95M | - |
| Reserves13 | €18.69M | €18.57M | €24.77M | €26.14M | ▲ 5.5% |
| Non-distributable reserves130/1 | - | - | - | €2.01M | - |
| Legal reserve130 | - | - | - | €2.01M | - |
| Tax-exempt reserves132 | - | - | - | €13.41M | - |
| Distributable reserves133 | - | - | - | €10.72M | - |
| Profit (loss) carried forward14 | €85.01M | €77.42M | €79.28M | €82.63M | ▲ 4.2% |
| Provisions and deferred taxes16 | €1.42M | €1.28M | €3.20M | €3.66M | ▲ 14.2% |
| Deferred taxes168 | - | - | - | €3.66M | - |
| Amounts payable17/49 | €81.57M | €103.61M | €94.74M | €117.06M | ▲ 23.6% |
| Amounts payable after more than one year17 | €59.69M | €63.34M | €78.74M | €57.71M | ▼ 26.7% |
| Financial debts170/4 | - | - | - | €57.71M | - |
| Credit institutions173 | - | - | - | €40.63M | - |
| Other loans174 | - | - | - | €17.08M | - |
| Amounts payable within one year42/48 | €21.66M | €40.02M | €15.68M | €58.90M | ▲ 276% |
| Current portion of amounts payable after more than one year42 | - | - | - | €34.71M | - |
| Financial debts43 | - | - | - | €12.90M | - |
| Credit institutions430/8 | - | - | - | €12.90M | - |
| Trade debts44 | €1.45M | €1.24M | €2.01M | €1.57M | ▼ 21.8% |
| Suppliers440/4 | - | - | - | €1.57M | - |
| Other amounts payable47/48 | - | - | - | €9.72M | - |
| Accrued charges and deferred income492/3 | - | - | - | €448k | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6.97M | €12.17M | €7.62M | €4.71M | ▼ 38.2% |
| + Depreciation and write-downs630 | €3.23M | €3.28M | €2.99M | €3.54M | ▲ 18.5% |
| Operating cash flow (approximation) | €10.19M | €15.45M | €10.61M | €8.25M | ▼ 22.2% |
| Investment in fixed assets (approximation) | - | €-14.14M | €-5.86M | €-10.23M | ▼ 74.6% |
| Change in cash | - | €-69k | €-125k | €2.75M | ▲ 2,302% |
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
2022
31-08
State Gazette act
Merger · Dissolution
Accounting effect · Purpose change
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
25-05
State Gazette act
Merger · Capital
Corporate purpose · Board composition
2021
31-12
Financial
Weakest financial yearnet €4.71M ▼38.2%
Net result drops to €4.71M, the lowest in the series.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity doublescurrent ratio 1.87
Current ratio from 0.79 to 1.87; short-term debt falls from €40.02M to €15.68M.
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €12.17M ▲74.7%
Net result €12.17M, the highest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Show earlier events
2015
23-06
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
2014
01-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
2013
15-07
NBB filing
Annual accounts filed
fiscal year 2012 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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Structure & network
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Kortrijk · indirect
controls
KORAMIC REAL ESTATEBE 0405.371.710
Acquisitions and mergers
1 transactionTaken over by:KORAMIC INVESTMENT GROUP
Recognitions · licences · registrations
Legal Entity Identifier
549300PWSIW3BSLAGY67