Accountancy firm Flynth will probably acquire industry partner Accon avm. It seems that a solution has been found for Accon avm, which is in trouble due to a million-dollar gap in its own bookkeeping.
Het Financieele Dagblad reports that Accon avm is reeling due to major financial problems. Out the annual report in 2020 it appears that the solvency is only 7%. Initially, Accon avm reported a solvency of 38%, with shareholders' equity of €25,1 million as of December 31, 2019.
It now appears that the profit and turnover have been presented too prosperously for years. Due to the write-downs for this, combined with a loss of €6,6 million in the operation, shareholders' equity was only €5,2 million at the end of last year. The conclusion is that Accon avm cannot continue independently.
Flynth is now negotiating a takeover with Accon avm. Talks are said to be at an advanced stage. When both companies merge, there will be a turnover of €225 million with more than 2.000 employees.
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