stukje uit het halfjaarverslag 2018
For the entire group, we wish to discuss the continuity of the company below:
Although at the end of June the current ratio of the group remains below 1 and the cash position is limited, the new financing agreement concluded with Belfius in September, secured for 60% by Gigarant; will enable the group to improve its liquidity position by, on the one hand, the rescheduling of the short-term financial debt with € 1.25m to long-term, and on the other hand an additional credit line of € 1.5m which will be used to repay a number of overdue debts of Crescent NV. In addition, Van Zele Holding NV agreed to the request from Belfius and Gigarant to make an additional credit line of € 0.5 million available as an additional buffer in case certain assumptions in the liquidity plan of the group could not be realized. The realization of the various three-year plans should furthermore allow the expected liquidity shortfalls in some companies to be compensated with cash surpluses in others. In addition to the focus on positive EBITDAs, the net cash generation will also remain a short-term target.
With the introduction of a number of new products in the first half of next year, management expects that the cash losses of Crescent NV can also be stopped, so that this company will gradually start contributing to positive cash flows.