UG
|
Income Statement
|
Financial year
|
Preceding financial year
|
|---|---|---|
|
Operating income
Total operating income including non-recurring items: all revenue from the company's core and secondary business activities.
|
€
57,514,198
|
€
75,784,113
|
|
Gross margin
Turnover plus changes in inventories and capitalized production, minus purchases of goods and raw materials.
|
|
|
|
Turnover
Net sales revenue: total invoiced amounts for goods sold and services rendered, excluding VAT.
|
€
56,897,266
|
€
75,037,957
|
|
Stock of work in progress and finished goods and contracts in progress: increase (decrease)
Change in inventories of work in progress, finished goods, and contracts in progress during the financial year.
|
|
|
|
Fixed assets produced
Internally produced fixed assets: costs of self-constructed tangible or intangible assets capitalized on the balance sheet.
|
|
|
|
Other operating income
Operating income not related to core sales, such as government subsidies, insurance recoveries, or gains on asset disposals.
|
€
616,932
|
€
745,234
|
|
Operating expenses
Total operating expenses including non-recurring items: all costs related to the company's business activities.
|
€
58,687,818
|
€
77,022,282
|
|
Trade goods, raw and auxiliary materials
Cost of goods sold: purchase cost of merchandise, raw materials, and consumables used in production.
|
€
54,574,436
|
€
72,737,914
|
|
Purchases
Total purchases of merchandise, raw materials, and consumables during the financial year.
|
€
54,574,436
|
€
72,737,914
|
|
Stock: decrease (increase)
Inventory movement: decrease (positive) or increase (negative) of raw materials and consumable stocks during the year.
|
|
|
|
Services and miscellaneous goods
External services and miscellaneous goods: rent, utilities, maintenance, insurance, consulting, transport, etc.
|
€
2,289,268
|
€
2,698,861
|
|
Remuneration, social security charges and pensions
Total employee costs: gross salaries, employer social security contributions, and pension contributions.
|
€
1,700,872
|
€
1,493,544
|
|
Depreciation and amortization of formation expenses, intangible and tangible assets
Depreciation of tangible assets and amortization of intangible assets and formation expenses for the financial year.
|
€
75,762
|
€
63,785
|
|
Write-downs on inventories, contracts in progress and trade receivables: additions (reversals)
Write-downs on inventories and trade receivables (additions) net of reversals of previously recorded write-downs.
|
|
|
|
Provisions for liabilities and charges: additions (uses and reversals)
Net movement in provisions for risks and charges: new provisions less amounts used and reversals of unused provisions.
|
|
|
|
Other operating expenses
Other operating expenses not classified above, such as property taxes, contribution charges, or minor losses.
|
€
47,465
|
€
28,177
|
|
Non-recurring operating expenses
One-off operating expenses outside normal business activities, such as restructuring costs or exceptional write-offs.
|
€
14
|
|
|
Operating profit (Operating loss)
Operating result: total operating income minus total operating expenses. Indicates the profitability of core operations.
|
€
-1,173,619
|
€
-1,238,169
|
|
Financial returns
Total financial income including non-recurring items: interest, dividends, and gains from financial activities.
|
€
9,208,548
|
€
1,046,869
|
|
Recurring financial income
Recurring financial income: regular interest income, dividends received, and gains from normal financial operations.
|
€
8,378,496
|
€
1,046,869
|
|
Income from current assets
Income generated from current asset investments, such as interest on term deposits or gains on treasury bills.
|
€
49,252
|
€
16,507
|
|
Other financial income
Financial income not classified elsewhere, such as exchange rate gains or debt discount income.
|
€
19,244
|
€
363
|
|
Non-recurring financial income
One-off financial income outside normal operations, such as exceptional gains on disposal of financial assets.
|
€
830,052
|
|
|
Financial costs
Total financial charges including non-recurring items: interest, write-downs, and losses from financial activities.
|
€
4,075,163
|
€
119,627
|
|
Recurring financial costs
Recurring financial charges: regular interest on debt, bank charges, and losses from normal financial operations.
|
€
66,949
|
€
97,305
|
|
Cost of debt
Interest and charges on borrowed funds: interest paid on bank loans, bonds, and other financial liabilities.
|
€
47,014
|
€
89,205
|
|
Write-downs on current assets other than inventories, contracts in progress and trade receivables: additions (reversals)
Write-downs on current financial assets (excluding inventory and trade receivables): impairments on short-term investments.
|
|
|
|
Other financial costs
Financial charges not classified elsewhere, such as exchange rate losses, bank commissions, or discount costs.
|
€
19,935
|
€
8,100
|
|
Non-recurring financial charges
One-off financial costs outside normal operations, such as exceptional losses on disposal of financial assets.
|
€
4,008,214
|
€
22,322
|
|
Profit (Loss) for the year before taxes
Profit or loss before income taxes: operating result plus financial result, before tax charges.
|
€
3,959,766
|
€
-310,926
|
|
Withdrawal from deferred taxes
Release of previously recorded deferred tax liabilities, reducing the current year's effective tax charge.
|
|
|
|
Income taxes
Total income tax expense for the financial year, including current tax and adjustments for prior periods.
|
€
5,011
|
€
1,905
|
|
Taxes
Belgian and foreign corporate income taxes charged for the current financial year.
|
€
5,011
|
€
1,905
|
|
Regularization of taxes and reversal of provisions for taxes
Tax adjustments for prior periods and reversal of tax provisions no longer required.
|
|
|
|
Profit (Loss) for the fiscal year
Net profit or loss for the financial year after all charges, depreciation, financial items, and taxes.
|
€
3,954,755
|
€
-312,831
|
|
Withdrawal from tax-exempt reserves
Release of tax-exempt reserves into taxable income, typically when conditions for the exemption are no longer met.
|
|
|
|
Profit (loss) for the year to be appropriated
Profit or loss of the current year available for appropriation through the general meeting of shareholders.
|
€
3,954,755
|
€
-312,831
|
|
Results processing
|
Financial year
|
Preceding financial year
|
|---|---|---|
|
Profit (loss) to be appropriated
Total profit or loss available for appropriation: current year result plus accumulated retained earnings from prior years.
|
|
|
|
Profit (loss) for the year to be appropriated
Profit or loss of the current year available for appropriation through the general meeting of shareholders.
|
€
3,954,755
|
€
-312,831
|
|
Profit (loss) carried forward from the previous fiscal year
Retained earnings or accumulated losses carried forward from the preceding financial year.
|
€
381
|
€
211
|
|
Addition to equity
Amounts transferred from distributable profit to equity reserves (legal, statutory, or voluntary).
|
|
|
|
Accumulated profits losses
Cumulative retained earnings or losses carried forward from previous financial years.
|
€
55,136
|
€
381
|
|
Profit to be distributed
Profit approved for distribution to shareholders as dividends at the general meeting.
|
|
|
|
Assets
|
Financial year
|
Preceding financial year
|
|---|---|---|
|
COSTS
Formation expenses: one-time costs incurred during establishment or capital increase, capitalized and amortized over max. 5 years.
|
|
|
|
FIXED ASSETS
Total fixed assets excluding formation expenses. Assets intended to be held for more than one financial year.
|
€
14,244,231
|
€
9,032,509
|
|
Intangible fixed assets
Non-physical assets such as patents, licenses, goodwill, software, and capitalized R&D costs.
|
€
93,683
|
|
|
Tangible fixed assets
Physical long-term assets used in operations including buildings, machinery, vehicles, and equipment.
|
€
201,966
|
€
238,745
|
|
Land buildings
Real estate assets: land and constructed properties owned by the company for operational use or investment.
|
€
57,605
|
€
50,175
|
|
Plant machinery equipment
Industrial installations, production machinery, and technical equipment used in the company's core operations.
|
€
41,780
|
€
47,124
|
|
FUrniture vehicles
Office furniture, computer equipment, company vehicles, and other rolling stock.
|
€
23,736
|
€
31,104
|
|
Other tangible assets
Tangible fixed assets not classified elsewhere, such as specific technical installations or operational equipment.
|
€
78,845
|
€
110,342
|
|
Assets under construction and prepayments
Tangible assets still being built or installed, and advance payments made for fixed assets not yet delivered.
|
|
|
|
Financial fixed assets
Long-term financial investments including participations in and receivables from affiliated or linked enterprises.
|
€
13,948,582
|
€
8,793,764
|
|
Affiliated financial fixed assets
Financial assets held in affiliated enterprises (companies with a controlling relationship).
|
€
13,948,582
|
€
8,793,764
|
|
Participations
Equity stakes and shareholdings in affiliated enterprises providing lasting control or significant influence.
|
€
13,948,582
|
€
8,793,764
|
|
Receivables
Long-term receivables from affiliated enterprises, such as intercompany loans granted.
|
|
|
|
Other financial fixed assets
Financial assets in enterprises outside the group, including minority stakes and long-term loans.
|
|
|
|
Shares and units
Shares, units, and equity participations in non-affiliated companies held as long-term investments.
|
|
|
|
Receivables and cash guarantees
Long-term receivables from non-affiliated parties and cash deposits held as guarantees (e.g., rental deposits).
|
|
|
|
CURRENT ASSETS
Total current assets: assets expected to be converted into cash or consumed within one year or the normal operating cycle.
|
€
16,664,083
|
€
29,821,237
|
|
Non-current receivables
Receivables with a remaining term of more than one year, typically long-term customer or intercompany receivables.
|
€
1,065,707
|
€
1,050,000
|
|
Other receivables
Non-trade receivables due after more than one year, such as tax receivables or receivables from directors.
|
|
|
|
Inventories and orders in progress
Total inventories (raw materials, work in progress, finished goods, merchandise) and contracts in progress.
|
|
|
|
Stocks
Physical inventories held for sale or use in production, including raw materials and finished goods.
|
|
|
|
Merchandise
Goods purchased for resale without further processing (merchandise inventory).
|
|
|
|
Orders in progress
Work performed on customer contracts not yet completed or invoiced at the balance sheet date.
|
|
|
|
Receivables due within one year
Total receivables due within one year, including trade receivables and other short-term claims.
|
€
12,005,143
|
€
24,389,191
|
|
Trade receivables
Amounts owed by customers for goods delivered or services rendered, due within one year.
|
€
11,329,135
|
€
17,719,866
|
|
Other receivables
Non-trade receivables due within one year, such as VAT receivables, tax refunds, or advances to employees.
|
€
676,008
|
€
6,669,326
|
|
Money investments
Short-term financial investments of excess cash, including term deposits and treasury bonds.
|
|
|
|
Own shares
The company's own shares repurchased and held, reducing available equity.
|
|
|
|
Other investments
Short-term investments other than own shares, such as term deposits or money market instruments.
|
|
|
|
Cash and cash equivalents
Cash balances in bank accounts and cash on hand at the balance sheet date.
|
€
97,984
|
€
951,133
|
|
Accrued expenses
Prepaid expenses and accrued income: costs paid in advance for future periods and earned revenue not yet invoiced.
|
€
3,495,250
|
€
3,430,912
|
|
ASSETS
Total of all assets on the balance sheet (fixed assets + current assets). Must equal total liabilities and equity.
|
€
30,908,314
|
€
38,853,746
|
|
Liabilities
|
Financial year
|
Preceding financial year
|
|---|---|---|
|
EQUITY
Total shareholders' equity: the residual interest in assets after deducting all liabilities. Includes capital, reserves, and retained earnings.
|
€
11,330,136
|
€
7,375,381
|
|
Equity contribution
Total contributed capital: amounts invested by shareholders including subscribed capital and share premiums.
|
€
250,000
|
€
250,000
|
|
Unavailable
Portion of contributed capital that is restricted and cannot be freely distributed to shareholders.
|
|
|
|
Capital
Subscribed share capital: the nominal value of shares issued by the company as stated in the articles of association.
|
€
250,000
|
€
250,000
|
|
Issues capital
Capital actually issued and called up, representing the shareholders' committed investment in the company.
|
€
250,000
|
€
250,000
|
|
Outside capital
Capital contributions outside of formal share capital, including share premiums and other equity contributions.
|
|
|
|
Issue premiums
Amounts paid by shareholders above the nominal value of shares during capital increases.
|
|
|
|
Revaluation capital gains
Unrealized gains from revaluing assets above their book value, recorded directly in equity.
|
|
|
|
Reserves
Retained profits set aside from distributable earnings, including legal, statutory, and voluntary reserves.
|
€
11,025,000
|
€
7,125,000
|
|
Unavailable reserves
Reserves that are legally or statutorily restricted and cannot be distributed as dividends.
|
€
25,000
|
€
25,000
|
|
Legal reserve
Mandatory reserve under Belgian company law: 5% of annual net profit until the reserve equals 10% of share capital.
|
€
25,000
|
€
25,000
|
|
Purchase of own shares
Reserve equal to the value of own shares held, unavailable for distribution as required by law.
|
|
|
|
Other reserves
Other restricted reserves that cannot be distributed, as determined by articles of association or special agreements.
|
|
|
|
Tax-free reserves
Reserves on which taxation has been deferred, typically from tax-incentivized investment deductions or capital gains.
|
|
|
|
Available reserves
Reserves freely available for distribution to shareholders or transfer to other equity components.
|
€
11,000,000
|
€
7,100,000
|
|
Accumulated profits losses
Cumulative retained earnings or losses carried forward from previous financial years.
|
€
55,136
|
€
381
|
|
Investment grants
Government subsidies received for capital investments, recognized in equity and released to income over the asset's useful life.
|
|
|
|
PROVISIONS AND DEFERRED TAXES
Total provisions for liabilities and charges plus deferred tax liabilities.
|
|
|
|
Provisions for risks and costs
Amounts set aside for probable future obligations with uncertain timing or amount (e.g., litigation, warranties, restructuring).
|
|
|
|
Pensions and similar obligations
Provisions for employee pension obligations and similar post-employment benefits not covered by external funds.
|
|
|
|
Other risks and costs
Provisions for other anticipated liabilities, excluding environmental obligations (e.g., warranties, litigation).
|
|
|
|
Deferred taxes
Tax liabilities that will become payable in future periods, arising from timing differences or tax-deferred items.
|
|
|
|
Amounts payable
Total liabilities: all amounts owed by the company, both current and non-current.
|
€
19,578,178
|
€
31,478,365
|
|
Non-current liabilities
Debts with a remaining term exceeding one year, including long-term loans and bonds.
|
€
250,000
|
€
320,000
|
|
Financial debts
Long-term financial debts: bonds, bank loans, and other borrowings due after more than one year.
|
|
|
|
Unsubordinated debentures
Non-subordinated bond issues and debentures with a remaining term of more than one year.
|
|
|
|
Credit Institutions
Long-term borrowings from banks and credit institutions with maturity beyond one year.
|
|
|
|
Other loans
Other long-term borrowings not from credit institutions, such as shareholder loans or intercompany financing.
|
|
|
|
Amounts payable within one year
Total debts due within one year, including current portion of long-term debt, trade payables, and tax liabilities.
|
€
14,857,947
|
€
27,125,004
|
|
Financial debts
Short-term financial debts: current portion of long-term loans and short-term credit facilities.
|
|
|
|
Credit Institutions
Short-term borrowings from banks and credit institutions, including overdrafts and credit lines.
|
|
|
|
Other loans
Other short-term borrowings not from credit institutions, due within one year.
|
|
|
|
Trade debts payables
Amounts owed to suppliers for goods and services received, due within one year.
|
€
14,389,357
|
€
26,722,942
|
|
Suppliers
Outstanding invoices from suppliers, including invoices received and accrued liabilities for goods/services delivered.
|
€
14,389,357
|
€
26,722,942
|
|
Prepayments on orders
Customer prepayments received for orders or contracts not yet completed or delivered.
|
|
|
|
Liabilities related to taxes, remuneration and social security contributions
Combined liabilities for taxes due, employee remuneration payable, and social security contributions.
|
€
207,812
|
€
152,061
|
|
Taxes
Current tax liabilities: corporate income tax, VAT, and other taxes owed to Belgian and foreign authorities.
|
€
4,570
|
€
2
|
|
Remuneration and social charges
Salaries, wages, and social security contributions payable to employees and social security bodies.
|
€
203,242
|
€
152,060
|
|
Other liabilities
Other short-term liabilities not classified elsewhere, such as dividends payable or accrued interest.
|
€
260,777
|
|
|
Accrued expenses
Accrued expenses (costs incurred but not yet invoiced) and deferred income (revenue received in advance).
|
€
4,470,231
|
€
4,033,361
|
|
TOTAL LIABILITIES
Total liabilities and equity. Must equal total assets (balance sheet identity).
|
€
30,908,314
|
€
38,853,746
|
|
Social Balance Sheet
|
Financial year
|
Preceding financial year
|
|---|---|---|
|
Average number of employees
Average number of employees during the financial year, calculated as the annual average of the workforce.
|
17.20
|
|
|
Total FTE
|
13.00
|
9.00
|
|
Total headcount
|
20,092.00
|
14,120.00
|
|
Full-time
|
14,568.00
|
|
|
Part-time
|
5,524.00
|
|
|
Fixed-term contracts (FTE)
|
|
|
|
FTE men
|
|
|
|
FTE women
|
|
|
|
Personnel costs
|
€
1,155,774
|
€
868,497
|
|
Hours worked men
|
|
|
|
Hours worked women
|
|
|
|
Temporary staff
|
|
|
|
Temporary staff costs
|
|
|