FRT CONSTRUCT
Open bankruptcyFinancials · financial year 2023, micro format
Annual accounts 2023 filed on 29-04-2024 PDF all 4 filings
Turnover
€661,255▲ 106%
2021 · €320,426
EBIT margin
4.2%▲ 1.2pp
2021 · 3.0%
Net result
€20,881▲ 185%
2021 · €7,319
Working capital
€145,578▲ 85.3%
2021 · €78,552
Multi-year overview
2019 to 2023, 4 financial yearsTurnover
€661,255
2023
20192023
Operating result
€27,878
2023
20192023
Net result
€20,881
2023
middle half of the sector
20192023
EBIT margin
4.2%
2023
20192023
Equity
€167,295
2023
highest quarter of the sector
20192023
Total assets
€714,006
2023
highest quarter of the sector
20192023
Debt
€546,711
2023
20192023
Working capital
€145,578
2023
highest quarter of the sector
20192023
Solvency
23.4%
2023
middle half of the sector
20192023
Current ratio
1.27
2023
middle half of the sector
20192023
Return on assets (ROA)
2.9%
2023
middle half of the sector
20192023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212023
Turnover€469,670-€223,521▼ 52.4%€320,426▲ 43.4%€661,255-
Operating result€82,187-€22,740▼ 72.3%€9,601▼ 57.8%€27,878-
Net result€64,222-€17,672within the sector's middle half▼ 72.5%€7,319within the sector's middle half▼ 58.6%€20,881within the sector's middle half-
EBIT margin17.5%-10.2%▼ 7.3pp3.0%▼ 7.2pp4.2%-
Equity€70,422-€88,094within the sector's middle half▲ 25.1%€95,413within the sector's middle half▲ 8.3%€167,295above the sector's middle half-
Total assets€175,210-€152,596within the sector's middle half▼ 12.9%€212,524within the sector's middle half▲ 39.3%€714,006above the sector's middle half-
Debt€104,788-€64,501▼ 38.4%€117,110▲ 81.6%€546,711-
Working capital€57,579-€70,364within the sector's middle half▲ 22.2%€78,552within the sector's middle half▲ 11.6%€145,578above the sector's middle half-
Solvency40.2%-57.7%within the sector's middle half▲ 17.5pp44.9%within the sector's middle half▼ 12.8pp23.4%within the sector's middle half-
Current ratio1.55-2.09within the sector's middle half▲ 0.541.67within the sector's middle half▼ 0.421.27within the sector's middle half-
Return on assets (ROA)36.7%-11.6%within the sector's middle half▼ 25.1pp3.4%within the sector's middle half▼ 8.1pp2.9%within the sector's middle half-
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 €27,878, against €9,601 in 2021. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2023 in colour, 2021 as the grey bar beneath
Assets €714,006
Fixed assets
€21,717 ▲ 28.8%
Current assets
€692,289 ▲ 254%
Equity and liabilities €714,006
Equity
€167,295 ▲ 75.3%
Debt
€546,711 ▲ 367%
Debt's share of the balance-sheet total rises from 55.1% to 76.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,544▲
2021 · €18,734
Cash flow
€35,546▲
2021 · €16,452
Debt to equity
3.27▲
2021 · 1.23
ROE
12.5%▲
2021 · 7.7%
Interest coverage
44.53▼
2021 · 70.69
Debt ≤ 1 year
€546,711▲
2021 · €117,110
Income taxes
€10,693▲
2021 · €2,017
Customer credit
335 days▲
2021 · 76 days
Supplier credit
307 days▲
2021 · 129 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2023 |
|---|---|---|
| Tangible fixed assets | €8,264 | €27,232 |
| Depreciation and write-downs of the year | €9,133 | €14,666 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|
| Turnover70 | €469,670 | €223,521 | €320,426 | €661,255 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €303,217 | €612,993 | - |
| Remuneration, social security and pensions62 | - | - | €2,158 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,970 | €3,820 | €9,133 | €14,666 | - |
| Other operating charges640/8 | - | - | €1,117 | €5,719 | - |
| Gross operating margin9900 | €90,635 | €30,521 | €22,009 | €48,262 | - |
| Operating profit (loss)9901 | €82,187 | €22,740 | €9,601 | €27,878 | - |
| Financial income75/76B | - | - | €0 | €4,651 | - |
| Recurring financial income75 | - | €0 | €0 | €4,651 | - |
| Financial charges65/66B | - | - | €265 | €955 | - |
| Recurring financial charges65 | €1,080 | €253 | €265 | €955 | - |
| Profit (loss) for the period before taxes9903 | €81,107 | €22,487 | €9,336 | €31,573 | - |
| Income taxes67/77 | €16,885 | €4,814 | €2,017 | €10,693 | - |
| Profit (loss) for the period9904 | €64,222 | €17,672 | €7,319 | €20,881 | - |
| Profit (loss) for the period to be appropriated9905 | €64,222 | €17,672 | €7,319 | €20,881 | - |
| Line | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €175,210 | €152,596 | €212,524 | €714,006 | - |
| Fixed assets21/28 | €12,843 | €17,730 | €16,861 | €21,717 | - |
| Tangible fixed assets22/27 | €12,843 | €17,730 | €16,861 | €21,717 | - |
| Plant, machinery and equipment23 | - | - | €7,691 | €1,172 | - |
| Furniture and vehicles24 | - | - | €9,170 | €20,545 | - |
| Current assets29/58 | €162,367 | €134,865 | €195,663 | €692,289 | - |
| Amounts receivable within one year40/41 | €153,365 | €108,887 | €140,916 | €678,917 | - |
| Trade receivables40 | - | - | €66,344 | €607,756 | - |
| Other amounts receivable41 | - | - | €74,573 | €71,161 | - |
| Cash at bank and in hand54/58 | €7,406 | €5,548 | €16,353 | €13,372 | - |
| Deferred charges and accrued income490/1 | - | - | €38,393 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €175,210 | €152,596 | €212,524 | €714,006 | - |
| Equity10/15 | €70,422 | €88,094 | €95,413 | €167,295 | - |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | - |
| Capital10 | - | - | €6,200 | - | - |
| Issued capital100 | - | - | €18,600 | - | - |
| Uncalled capital101 | - | - | €12,400 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | - |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | - |
| Legal reserve130 | - | - | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €62,362 | €80,034 | €87,353 | €159,235 | - |
| Amounts payable17/49 | €104,788 | €64,501 | €117,110 | €546,711 | - |
| Amounts payable within one year42/48 | €104,788 | €64,501 | €117,110 | €546,711 | - |
| Trade debts44 | €85,103 | €40,502 | €107,125 | €516,132 | - |
| Suppliers440/4 | - | - | €1,590 | €516,132 | - |
| Bills of exchange payable441 | - | - | €105,536 | - | - |
| Taxes, remuneration and social security45 | - | - | €9,985 | €30,580 | - |
| Taxes450/3 | - | - | €3,123 | €30,580 | - |
| Remuneration and social security454/9 | - | - | €6,862 | - | - |
| Line | 2019 | 2020 | 2021 | 2023 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €64,222 | €17,672 | €7,319 | €20,881 | - |
| + Depreciation and write-downs630 | €6,970 | €3,820 | €9,133 | €14,666 | - |
| Operating cash flow (approximation) | €71,192 | €21,492 | €16,452 | €35,546 | - |
| Investment in fixed assets (approximation) | - | -€8,707 | -€8,264 | - | - |
| Change in cash | - | -€1,858 | €10,805 | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.