DOREL CONSTRUCT
BankruptcyFinancials · financial year 2022, micro format
2022 annual accounts filed late (126 days) Filed on 4 December 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00521179.
Turnover
€574,597▲ 16.0%
2018 · €495,306
EBIT margin
4.5%▲ 3.4pp
2018 · 1.2%
Net result
-€1,462
2021 · €35,173
Working capital
€6,909▼ 74.9%
2021 · €27,479
Trend over the years
2018 to 2022, 5 financial years 2018 to 2022, 5 financial years
The operating result turns negative in 2022: a loss of €1,262 after €35,575 in 2021.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€574,597
2019
Operating result-€1,262
2022
Net result-€1,462
2022
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€309,012
2022
Equity€50,743
2022
Debt€258,269
2022
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€6,909
2022
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin4.5%
2019
Return on assets (ROA)-0.5%
2022
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency16.4%
2022
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.03
2022
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Turnover€495,306-€574,597▲ 16.0%
Operating result€5,701-€26,026▲ 357%-€14,831€35,575-€1,262
Net result€4,248-€25,852▲ 509%-€15,454below the sector's middle half€35,173above the sector's middle half-€1,462below the sector's middle half
EBIT margin1.2%-4.5%▲ 3.4pp
Equity€20,893-€46,745▲ 124%€31,032within the sector's middle half▼ 33.6%€72,205within the sector's middle half▲ 133%€50,743within the sector's middle half▼ 29.7%
Total assets€440,227-€371,619▼ 15.6%€576,821above the sector's middle half▲ 55.2%€446,656above the sector's middle half▼ 22.6%€309,012above the sector's middle half▼ 30.8%
Debt€419,334-€324,874▼ 22.5%€545,789▲ 68.0%€374,451▼ 31.4%€258,269▼ 31.0%
Working capital-€67,537--€50,675▲ 25.0%-€37,230below the sector's middle half▲ 26.5%€27,479within the sector's middle half€6,909within the sector's middle half▼ 74.9%
Solvency4.7%-12.6%▲ 7.8pp5.4%below the sector's middle half▼ 7.2pp16.2%below the sector's middle half▲ 10.8pp16.4%below the sector's middle half▲ 0.3pp
Current ratio0.84-0.84▲ 0.010.93below the sector's middle half▲ 0.091.07below the sector's middle half▲ 0.141.03below the sector's middle half▼ 0.05
Return on assets (ROA)1.0%-7.0%▲ 6.0pp-2.7%below the sector's middle half▼ 9.6pp7.9%within the sector's middle half▲ 10.6pp-0.5%below the sector's middle half▼ 8.3pp
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €309,012
Fixed assets
€43,834 ▼ 2.0%
Current assets
€265,178 ▼ 34.0%
Equity and liabilities €309,012
Equity
€50,743 ▼ 29.7%
Debt
€258,269 ▼ 31.0%
Debt's share of the balance-sheet total falls from 83.8% to 83.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€17,828▼
2021 · €64,395
Cash flow
€17,628▼
2021 · €63,993
Debt to equity
5.09▼
2021 · 5.19
ROE
-2.9%▼
2021 · 48.7%
Interest coverage
89.14▼
2021 · over 100
Debt ≤ 1 year
€258,269▼
2021 · €374,451
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €495,306 | €574,597 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,690 | €29,158 | €29,159 | €28,820 | €19,090 | ▼ 33.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €242,715 | - |
| Other operating charges640/8 | - | - | €4,388 | €1,225 | €1,730 | ▲ 41.2% |
| Gross operating margin9900 | €16,855 | €55,873 | €18,716 | €65,620 | €262,273 | ▲ 300% |
| Operating profit (loss)9901 | €5,701 | €26,026 | -€14,831 | €35,575 | -€1,262 | - |
| Financial charges65/66B | - | - | €623 | €402 | €200 | ▼ 50.2% |
| Recurring financial charges65 | €171 | €174 | €623 | €402 | €200 | ▼ 50.2% |
| Profit (loss) for the period before taxes9903 | €5,529 | €25,852 | -€15,454 | €35,173 | -€1,462 | - |
| Income taxes67/77 | €1,281 | - | - | - | - | - |
| Profit (loss) for the period9904 | €4,248 | €25,852 | -€15,454 | €35,173 | -€1,462 | - |
| Profit (loss) for the period to be appropriated9905 | €4,248 | €25,852 | -€15,454 | €35,173 | -€1,462 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €440,227 | €371,619 | €576,821 | €446,656 | €309,012 | ▼ 30.8% |
| Fixed assets21/28 | €88,430 | €97,420 | €68,262 | €44,726 | €43,834 | ▼ 2.0% |
| Tangible fixed assets22/27 | €85,930 | €94,920 | €65,762 | €42,226 | €41,209 | ▼ 2.4% |
| Plant, machinery and equipment23 | - | - | €838 | - | - | - |
| Furniture and vehicles24 | - | - | €64,924 | €42,226 | €41,209 | ▼ 2.4% |
| Financial fixed assets28 | €2,500 | €2,500 | €2,500 | €2,500 | €2,625 | ▲ 5.0% |
| Current assets29/58 | €351,797 | €274,199 | €508,559 | €401,930 | €265,178 | ▼ 34.0% |
| Stocks and contracts in progress3 | €15,800 | €15,800 | €15,800 | - | - | - |
| Contracts in progress37 | - | - | €15,800 | - | - | - |
| Amounts receivable within one year40/41 | €331,323 | €258,295 | €490,030 | €322,984 | €180,358 | ▼ 44.2% |
| Trade receivables40 | - | - | €490,030 | €303,539 | €153,709 | ▼ 49.4% |
| Other amounts receivable41 | - | - | - | €19,445 | €26,649 | ▲ 37.0% |
| Cash at bank and in hand54/58 | €4,674 | €104 | €2,729 | €78,946 | €84,820 | ▲ 7.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €440,227 | €371,619 | €576,821 | €446,656 | €309,012 | ▼ 30.8% |
| Equity10/15 | €20,893 | €46,745 | €31,032 | €72,205 | €50,743 | ▼ 29.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | = |
| Other1319 | - | - | €1,860 | - | - | - |
| Profit (loss) carried forward14 | €433 | €26,285 | €10,572 | €51,745 | €30,283 | ▼ 41.5% |
| Amounts payable17/49 | €419,334 | €324,874 | €545,789 | €374,451 | €258,269 | ▼ 31.0% |
| Amounts payable within one year42/48 | €419,334 | €324,874 | €545,789 | €374,451 | €258,269 | ▼ 31.0% |
| Trade debts44 | €317,631 | €214,815 | €442,835 | €289,876 | €177,529 | ▼ 38.8% |
| Suppliers440/4 | - | - | €442,835 | €289,876 | €177,529 | ▼ 38.8% |
| Advances received on contracts in progress46 | - | - | €13,000 | €13,000 | €13,000 | = |
| Taxes, remuneration and social security45 | - | - | €30,026 | €71,575 | €47,740 | ▼ 33.3% |
| Taxes450/3 | - | - | €29,928 | €71,575 | €47,740 | ▼ 33.3% |
| Remuneration and social security454/9 | - | - | €98 | - | - | - |
| Other amounts payable47/48 | - | - | €59,928 | - | €20,000 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,248 | €25,852 | -€15,454 | €35,173 | -€1,462 | - |
| + Depreciation and write-downs630 | €10,690 | €29,158 | €29,159 | €28,820 | €19,090 | ▼ 33.8% |
| Operating cash flow (approximation) | €14,938 | €55,010 | €13,705 | €63,993 | €17,628 | ▼ 72.5% |
| Investment in fixed assets (approximation) | - | -€38,148 | -€1 | -€5,284 | -€18,198 | ▼ 244% |
| Change in cash | - | -€4,570 | €2,625 | €76,217 | €5,874 | ▼ 92.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2022 | micro format | 04-12-2023 | 2023-00521179 |
| 31-12-2021 | micro format | 16-12-2022 | 2022-20540303 |
| 31-12-2020 | micro format | 06-12-2022 | 2022-20533685 |
| 31-12-2019 | micro format | 08-10-2021 | 2021-71600460 |
| 31-12-2018 | micro format | 30-08-2019 | 2019-57500334 |
| 31-12-2017 | micro format | 31-07-2018 | 2018-42800480 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-59700099 |
| 31-12-2015 | full format | 03-08-2016 | 2016-40800252 |
| 31-12-2014 | full format | 06-07-2015 | 2015-27800524 |
| 31-12-2013 | full format | 24-08-2014 | 2014-47300405 |
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Of the 15,150 active companies whose main activity is other specialised construction activities (NACE 43990), figures are known for 7,367. 6,050 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.