The Catalan company Tecnotramit, specializing in asset management, is experiencing a period of great instability. Its short-term financial obligations amount to over 60 million euros, a figure that contrasts sharply with its equity, which barely reaches 2.7 million. This disproportion results in a debt-to-equity ratio of almost 23 euros of debt for every euro of proprietary capital, according to the latest data.
Lack of liquidity is a persistent problem for Tecnotramit, with working capital having been negative since 2018 and expanding to -9.9 million euros in 2024. This situation is reflected in a liquidity ratio of only 0.04, indicating that the firm has four cents of liquid assets for every euro it must pay in the short term.
Adding to the precarious financial situation is a significant drop in operating profitability, which was halved in 2024, falling from 577,000 euros to 288,000 euros. Despite sales exceeding 39 million euros, operating profit did not grow, partly due to losses of 4 million in 'other results'. Consolidated net profit fell by almost 45%, settling at 254,000 euros.
This crisis coincides with a scandal over the alleged retention of client funds intended for the Tax Agency, which has generated tensions with banks. Banking sources and affected parties indicate that these resources may have been used to boost the company's treasury, exposing individuals to fines and surcharges. The firm's president, Miquel Argelich, has admitted to 'delays' in some payments, assuring they are now 'regularized', a version that banking sector sources contradict.
Tecnotramit will not recover from this. The lost prestige and clients will be difficult to regain.
The alleged malpractice has led to a client exodus from Tecnotramit to other companies in the sector, with banking entities ceasing collaborations. Real estate sector experts predict that the company will not recover from this crisis, which could drag down its more than 900 employees.
