FLC CONSTRUCT
InactiveFinancials · financial year 2021, full format
2021 annual accounts filed 191 days after the deadline Filed on 7 February 2023, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2023-00025655.
Annual accounts 2021 filed on 07-02-2023 PDF all 8 filings
Turnover
≈ €480,000
Estimated: probably between €290,000 and €910,000
EBIT margin
Not included in this filing
Net result
€12,256▼ 56.3%
2020 · €28,051
Working capital
€229,822▲ 12.8%
2020 · €203,793
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
€30,693
▼ 35.6%
2021
20182021
Net result
€12,256
▼ 56.3%
2021
20182021
Equity
€251,229
▲ 5.1%
2021
20182021
Total assets
€903,650
▼ 0.2%
2021
20182021
Debt
€652,421
▼ 2.2%
2021
20182021
Working capital
€229,822
▲ 12.8%
2021
20182021
Staff (FTE)
3.8
▲ 31.0%
2021
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result€70,684-€52,209▼ 26.1%€47,686▼ 8.7%€30,693▼ 35.6%
Net result€47,281-€33,971▼ 28.2%€28,051▼ 17.4%€12,256▼ 56.3%
Equity€176,950-€210,921▲ 19.2%€238,973▲ 13.3%€251,229▲ 5.1%
Total assets€425,004-€670,390▲ 57.7%€905,910▲ 35.1%€903,650▼ 0.2%
Debt€248,053-€459,468▲ 85.2%€666,937▲ 45.2%€652,421▼ 2.2%
Working capital€135,636-€157,779▲ 16.3%€203,793▲ 29.2%€229,822▲ 12.8%
Staff (FTE)1.2-2▲ 66.7%2.9▲ 45.0%3.8▲ 31.0%
The operating result for 2021 is 36% lower than in 2020 and the lowest since 2018. It is the third fall in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €903,650
Fixed assets
€51,787 ▼ 53.7%
Current assets
€851,863 ▲ 7.3%
Equity and liabilities €903,650
Equity
€251,229 ▲ 5.1%
Debt
€652,421 ▼ 2.2%
Debt's share of the balance-sheet total falls from 73.6% to 72.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€67,896▼
2020 · €94,447
Cash flow
€49,459▼
2020 · €74,812
Current ratio
1.37▲
2020 · 1.35
Debt to equity
2.60▲
2020 · 0.32
ROE
4.9%▼
2020 · 11.7%
ROA
1.4%▼
2020 · 3.1%
Interest coverage
8.29
Debt ≤ 1 year
€622,041▲
2020 · €590,150
Debt > 1 year
€30,380▼
2020 · €76,786
Income taxes
€10,558▼
2020 · €11,801
Staff costs
€115,501
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 3 |
| in full-time equivalents | 3 |
| Average over the year, in full-time equivalents | 3.8 |
| On a permanent contract | 3 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €11,404 |
| Depreciation and write-downs of the year | €37,203 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €115,501 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,570 | €49,091 | €46,761 | €37,203 | ▼ 20.4% |
| Other operating charges640/8 | - | - | - | €6,302 | - |
| Gross operating margin9900 | €155,139 | €172,787 | €154,314 | €189,700 | ▲ 22.9% |
| Operating profit (loss)9901 | €70,684 | €52,209 | €47,686 | €30,693 | ▼ 35.6% |
| Financial income75/76B | - | - | - | €313 | - |
| Recurring financial income75 | €3,981 | €4,986 | €196 | €313 | ▲ 60.2% |
| Financial charges65/66B | - | - | - | €8,192 | - |
| Recurring financial charges65 | €6,904 | €9,344 | €8,030 | €8,192 | ▲ 2.0% |
| Profit (loss) for the period before taxes9903 | €67,760 | €47,851 | €39,852 | €22,814 | ▼ 42.8% |
| Income taxes67/77 | €20,479 | €13,880 | €11,801 | €10,558 | ▼ 10.5% |
| Profit (loss) for the period9904 | €47,281 | €33,971 | €28,051 | €12,256 | ▼ 56.3% |
| Profit (loss) for the period to be appropriated9905 | €47,281 | €33,971 | €28,051 | €12,256 | ▼ 56.3% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €425,004 | €670,390 | €905,910 | €903,650 | ▼ 0.2% |
| Fixed assets21/28 | €102,168 | €156,120 | €111,966 | €51,787 | ▼ 53.7% |
| Tangible fixed assets22/27 | €97,168 | €151,120 | €106,966 | €46,787 | ▼ 56.3% |
| Plant, machinery and equipment23 | - | - | - | €5,127 | - |
| Furniture and vehicles24 | - | - | - | €5,399 | - |
| Leasing and similar rights25 | - | - | - | €36,261 | - |
| Financial fixed assets28 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Current assets29/58 | €322,835 | €514,269 | €793,944 | €851,863 | ▲ 7.3% |
| Amounts receivable within one year40/41 | €233,202 | €498,523 | €766,455 | €746,370 | ▼ 2.6% |
| Trade receivables40 | - | - | - | €658,656 | - |
| Other amounts receivable41 | - | - | - | €87,714 | - |
| Cash at bank and in hand54/58 | €85,625 | €14,354 | €27,489 | €9,650 | ▼ 64.9% |
| Deferred charges and accrued income490/1 | - | - | - | €95,843 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €425,004 | €670,390 | €905,910 | €903,650 | ▼ 0.2% |
| Equity10/15 | €176,950 | €210,921 | €238,973 | €251,229 | ▲ 5.1% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €168,890 | €202,861 | €230,913 | €243,169 | ▲ 5.3% |
| Amounts payable17/49 | €248,053 | €459,468 | €666,937 | €652,421 | ▼ 2.2% |
| Amounts payable after more than one year17 | €60,371 | €102,978 | €76,786 | €30,380 | ▼ 60.4% |
| Financial debts170/4 | - | - | - | €30,380 | - |
| Amounts payable within one year42/48 | €187,200 | €356,490 | €590,150 | €622,041 | ▲ 5.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €41,155 | - |
| Financial debts43 | - | - | - | €31 | - |
| Credit institutions430/8 | - | - | - | €31 | - |
| Trade debts44 | €56,842 | €223,418 | €447,088 | €416,125 | ▼ 6.9% |
| Suppliers440/4 | - | - | - | €416,125 | - |
| Taxes, remuneration and social security45 | - | - | - | €120,253 | - |
| Taxes450/3 | - | - | - | €67,863 | - |
| Remuneration and social security454/9 | - | - | - | €52,390 | - |
| Other amounts payable47/48 | - | - | - | €44,478 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,281 | €33,971 | €28,051 | €12,256 | ▼ 56.3% |
| + Depreciation and write-downs630 | €39,570 | €49,091 | €46,761 | €37,203 | ▼ 20.4% |
| Operating cash flow (approximation) | €86,852 | €83,062 | €74,812 | €49,459 | ▼ 33.9% |
| Investment in fixed assets (approximation) | - | -€103,043 | -€2,606 | €22,976 | - |
| Change in cash | - | -€71,271 | €13,135 | -€17,839 | - |
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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | full format | 07-02-2023 | 2023-00025655 | |
| 31-12-2020 | full format | 01-12-2021 | 2021-79300512 | |
| 31-12-2019 | full format | 08-12-2020 | 2020-75000019 | |
| 31-12-2018 | full format | 03-01-2020 | 2020-00400319 | |
| 31-12-2017 | micro format | 01-10-2018 | 2018-68000455 | |
| 31-12-2016 | micro format | 04-10-2017 | 2017-66000577 | |
| 31-12-2015 | full format | 07-09-2016 | 2016-59400383 | |
| 31-12-2014 | full format | 22-06-2015 | 2015-20100150 |