ASD
Open bankruptcyFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 30-04-2024 PDF all 10 filings
Turnover
≈ €4.2m
Estimated: probably between €3.3m and €5.2m
Total assets
€4.4m▲ 32.0%
2022 · €3.3m
Net result
€117,461▼ 58.6%
2022 · €283,551
Working capital
€806,421▲ 16.1%
2022 · €694,844
Multi-year overview
2019 to 2023, 5 financial yearsOperating result
€225,175
▼ 41.4%
2023
20192023
Net result
€117,461
▼ 58.6%
2023
middle half of the sector
20192023
Equity
€872,543
▲ 15.6%
2023
highest quarter of the sector
20192023
Total assets
€4.4m
▲ 32.0%
2023
highest quarter of the sector
20192023
Debt
€3.5m
▲ 36.8%
2023
20192023
Working capital
€806,421
▲ 16.1%
2023
highest quarter of the sector
20192023
Solvency
19.9%
▼ 2.8pp
2023
lowest quarter of the sector
20192023
Current ratio
1.27
▼ 0.06
2023
middle half of the sector
20192023
Return on assets (ROA)
2.7%
▼ 5.8pp
2023
middle half of the sector
20192023
Staff (FTE)
19
▲ 35.7%
2023
highest quarter of the sector
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€0.08m-€0.2m▲ 172%€0.4m▲ 73.9%€0.4m▲ 0.6%€0.2m▼ 41.4%
Net result€0.02m-€0.1mabove the sector's middle half▲ 497%€0.2mabove the sector's middle half▲ 86.6%€0.3mabove the sector's middle half▲ 20.5%€0.1mwithin the sector's middle half▼ 58.6%
Equity€0.3m-€0.5mwithin the sector's middle half▲ 37.6%€0.6mwithin the sector's middle half▲ 29.3%€0.8mabove the sector's middle half▲ 26.6%€0.9mabove the sector's middle half▲ 15.6%
Total assets€2.0m-€2.3mabove the sector's middle half▲ 13.8%€2.3mabove the sector's middle half▲ 2.4%€3.3mabove the sector's middle half▲ 42.9%€4.4mabove the sector's middle half▲ 32.0%
Debt€1.7m-€1.8m▲ 9.0%€1.7m▼ 4.5%€2.6m▲ 48.5%€3.5m▲ 36.8%
Working capital€0.4m-€0.4mwithin the sector's middle half▲ 8.4%€0.5mabove the sector's middle half▲ 31.3%€0.7mabove the sector's middle half▲ 27.7%€0.8mabove the sector's middle half▲ 16.1%
Solvency16.8%-20.3%below the sector's middle half▲ 3.5pp25.6%within the sector's middle half▲ 5.3pp22.7%within the sector's middle half▼ 2.9pp19.9%below the sector's middle half▼ 2.8pp
Current ratio1.38-1.32within the sector's middle half▼ 0.061.42within the sector's middle half▲ 0.101.32within the sector's middle half▼ 0.091.27within the sector's middle half▼ 0.06
Return on assets (ROA)1.1%-5.5%within the sector's middle half▲ 4.5pp10.1%within the sector's middle half▲ 4.6pp8.5%within the sector's middle half▼ 1.6pp2.7%within the sector's middle half▼ 5.8pp
Staff (FTE)11.5-14above the sector's middle half▲ 21.7%14above the sector's middle half=14above the sector's middle half=19above the sector's middle half▲ 35.7%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2023 is 41% lower than in 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €4.4m
Fixed assets
€547,018 ▲ 11.6%
Current assets
€3.8m ▲ 35.5%
Equity and liabilities €4.4m
Equity
€872,543 ▲ 15.6%
Debt
€3.5m ▲ 36.8%
Debt's share of the balance-sheet total rises from 77.3% to 80.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€308,255▼
2022 · €469,138
Cash flow
€200,541▼
2022 · €368,105
Quick ratio
0.98▼
2022 · 1.15
Debt to equity
4.04▲
2022 · 3.41
ROE
13.5%▼
2022 · 37.6%
Interest coverage
4.98▼
2022 · 12.04
Debt ≤ 1 year
€3.0m▲
2022 · €2.1m
Debt > 1 year
€480,896▲
2022 · €429,800
Income taxes
€48,890▼
2022 · €67,631
Staff costs
€1.2m▲
2022 · €762,269
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 15 | 16 | - |
| full-time | 12 | 14 | - |
| part-time | 3 | 2 | - |
| in full-time equivalents | 14 | 15 | - |
| Average over the year, in full-time equivalents | 14 | 15 | 19 |
| On a permanent contract | 14 | 15 | - |
| Joined | 3 | - | - |
| Left | 5 | - | - |
Source: social balance sheet in the 2021 to 2023 annual accounts
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 |
|---|---|---|---|
| Mortgages, amount registered | - | - | €797,500 |
| Carrying value of the mortgaged assets | - | - | €333,830 |
| Pledge on the business | - | - | €605,000 |
Source: notes to the 2021 to 2023 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 |
|---|---|---|---|
| Tangible fixed assets | €4,491 | €89,506 | €142,349 |
| Financial fixed assets | - | - | €50 |
| Depreciation and write-downs of the year | €89,551 | €84,554 | €83,080 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 2 entries · €2,434 awarded · €2,418 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €0.8m | €0.8m | €1.2m | ▲ 58.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.09m | €0.09m | €0.09m | €0.08m | €0.08m | ▼ 1.7% |
| Other operating charges640/8 | - | - | €0.01m | €0.01m | €0.02m | ▲ 47.7% |
| Gross operating margin9900 | €0.8m | €1.0m | €1.2m | €1.2m | €1.5m | ▲ 23.2% |
| Operating profit (loss)9901 | €0.08m | €0.2m | €0.4m | €0.4m | €0.2m | ▼ 41.4% |
| Financial income75/76B | - | - | €0.003m | €0.006m | €0.003m | ▼ 44.3% |
| Recurring financial income75 | €0.001m | €0.002m | €0.003m | €0.006m | €0.003m | ▼ 44.3% |
| Financial charges65/66B | - | - | €0.1m | €0.04m | €0.06m | ▲ 58.9% |
| Recurring financial charges65 | €0.05m | €0.05m | €0.1m | €0.04m | €0.06m | ▲ 58.9% |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.2m | €0.3m | €0.4m | €0.2m | ▼ 52.6% |
| Income taxes67/77 | €0.01m | €0.05m | €0.05m | €0.07m | €0.05m | ▼ 27.7% |
| Profit (loss) for the period9904 | €0.02m | €0.1m | €0.2m | €0.3m | €0.1m | ▼ 58.6% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.1m | €0.2m | €0.3m | €0.1m | ▼ 58.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €2.3m | €2.3m | €3.3m | €4.4m | ▲ 32.0% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | ▲ 11.6% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 12.1% |
| Land and buildings22 | - | - | €0.4m | €0.4m | €0.3m | ▼ 7.0% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.008m | ▲ 409% |
| Furniture and vehicles24 | - | - | €0.05m | €0.03m | €0.02m | ▼ 41.4% |
| Leasing and similar rights25 | - | - | €0.03m | €0.08m | €0.2m | ▲ 108% |
| Financial fixed assets28 | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 0.2% |
| Current assets29/58 | €1.4m | €1.7m | €1.8m | €2.8m | €3.8m | ▲ 35.5% |
| Stocks and contracts in progress3 | €0.1m | €0.07m | €0.4m | €0.4m | €0.9m | ▲ 129% |
| Stocks30/36 | - | - | €0.07m | €0.07m | €0.2m | ▲ 126% |
| Contracts in progress37 | - | - | €0.4m | €0.3m | €0.7m | ▲ 129% |
| Amounts receivable within one year40/41 | €0.9m | €1.2m | €1.3m | €2.2m | €3.0m | ▲ 34.5% |
| Trade receivables40 | - | - | €1.2m | €2.0m | €2.8m | ▲ 42.6% |
| Other amounts receivable41 | - | - | €0.07m | €0.2m | €0.1m | ▼ 38.5% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.1m | €0.3m | €0.04m | ▼ 86.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €2.3m | €2.3m | €3.3m | €4.4m | ▲ 32.0% |
| Equity10/15 | €0.3m | €0.5m | €0.6m | €0.8m | €0.9m | ▲ 15.6% |
| Contributions10/11 | €0.006m | - | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.2m | €0.4m | €0.6m | €0.7m | €0.9m | ▲ 15.7% |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | €0.04m | €0.04m | €0.04m | = |
| Distributable reserves133 | - | - | €0.5m | €0.7m | €0.8m | ▲ 16.7% |
| Profit (loss) carried forward14 | €0.2m | €0.009m | - | €0 | €0 | - |
| Amounts payable17/49 | €1.7m | €1.8m | €1.7m | €2.6m | €3.5m | ▲ 36.8% |
| Amounts payable after more than one year17 | €0.7m | €0.5m | €0.4m | €0.4m | €0.5m | ▲ 11.9% |
| Financial debts170/4 | - | - | €0.4m | €0.4m | €0.5m | ▲ 11.9% |
| Amounts payable within one year42/48 | €1.0m | €1.3m | €1.3m | €2.1m | €3.0m | ▲ 41.8% |
| Current portion of amounts payable after more than one year42 | - | - | €0.1m | €0.1m | €0.3m | ▲ 136% |
| Financial debts43 | - | - | €0.3m | €0.3m | €0.4m | ▲ 33.3% |
| Credit institutions430/8 | - | - | €0.3m | €0.3m | €0.4m | ▲ 33.3% |
| Trade debts44 | €0.6m | €0.8m | €0.7m | €1.5m | €2.3m | ▲ 49.8% |
| Suppliers440/4 | - | - | €0.7m | €1.5m | €2.3m | ▲ 49.8% |
| Taxes, remuneration and social security45 | - | - | €0.03m | €0.06m | €0.05m | ▼ 21.9% |
| Taxes450/3 | - | - | €0.002m | €0.02m | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | €0.03m | €0.04m | €0.05m | ▲ 13.0% |
| Other amounts payable47/48 | - | - | €0.1m | €0.1m | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,101 | €126,061 | €235,256 | €283,551 | €117,461 | ▼ 58.6% |
| + Depreciation and write-downs630 | €94,259 | €86,257 | €89,551 | €84,554 | €83,080 | ▼ 1.7% |
| Operating cash flow (approximation) | €115,359 | €212,317 | €324,807 | €368,105 | €200,541 | ▼ 45.5% |
| Investment in fixed assets (approximation) | - | -€53,557 | -€3,976 | -€89,506 | -€140,061 | ▼ 56.5% |
| Change in cash | - | €75,694 | -€64,565 | €157,850 | -€230,609 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2023 | abbreviated format | 30-04-2024 | 2024-00081525 | |
| 30-09-2022 | abbreviated format | 25-04-2023 | 2023-00072654 | |
| 30-09-2021 | abbreviated format | 27-04-2022 | 2022-20013624 | |
| 30-09-2020 | abbreviated format | 28-04-2021 | 2021-11700423 | |
| 30-09-2019 | abbreviated format | 10-04-2020 | 2020-09000311 | |
| 30-09-2018 | micro format | 14-12-2018 | 2018-74400491 | |
| 30-09-2017 | micro format | 23-01-2018 | 2018-02100029 | |
| 31-12-2015 | abbreviated format | 22-06-2016 | 2016-20300413 | |
| 31-12-2014 | abbreviated format | 16-07-2015 | 2015-31700543 | |
| 31-12-2013 | abbreviated format | 25-08-2014 | 2014-48900357 |