HRT-CONSTRUCT
Open bankruptcyFinancials · financial year 2023, abbreviated format
Annual accounts 2023 filed on 12-06-2024 PDF all 5 filings
Equity
-€354,341
2022 · €34,168
Total assets
€425,242▼ 53.1%
2022 · €905,935
Net result
-€388,508
2022 · €20,144
Working capital
-€431,495▼ 228%
2022 · -€131,644
Multi-year overview
2019 to 2023, 5 financial yearsOperating result
-€369,124
2023
20192023
Net result
-€388,508
2023
lowest quarter of the sector
20192023
Equity
-€354,341
2023
lowest quarter of the sector
20192023
Total assets
€425,242
▼ 53.1%
2023
middle half of the sector
20192023
Debt
€779,582
▼ 10.6%
2023
20192023
Working capital
-€431,495
▼ 228%
2023
lowest quarter of the sector
20192023
Solvency
-83.3%
▼ 87.1pp
2023
lowest quarter of the sector
20192023
Current ratio
0.38
▼ 0.45
2023
lowest quarter of the sector
20192023
Return on assets (ROA)
-91.4%
▼ 93.6pp
2023
lowest quarter of the sector
20192023
Staff (FTE)
0
▼ 100%
2023
lowest 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€14,981-€19,225▲ 28.3%-€21,066€54,905-€369,124
Net result€8,155-€18,198within the sector's middle half▲ 123%-€36,330below the sector's middle half€20,144within the sector's middle half-€388,508below the sector's middle half
Equity€32,155-€50,353below the sector's middle half▲ 56.6%€14,023below the sector's middle half▼ 72.2%€34,168below the sector's middle half▲ 144%-€354,341below the sector's middle half
Total assets€461,996-€654,803within the sector's middle half▲ 41.7%€866,517within the sector's middle half▲ 32.3%€905,935within the sector's middle half▲ 4.5%€425,242within the sector's middle half▼ 53.1%
Debt€429,840-€604,450▲ 40.6%€852,494▲ 41.0%€871,768▲ 2.3%€779,582▼ 10.6%
Working capital€33,395-€15,633within the sector's middle half▼ 53.2%-€113,196below the sector's middle half-€131,644below the sector's middle half▼ 16.3%-€431,495below the sector's middle half▼ 228%
Solvency7.0%-7.7%below the sector's middle half▲ 0.7pp1.6%below the sector's middle half▼ 6.1pp3.8%below the sector's middle half▲ 2.2pp-83.3%below the sector's middle half▼ 87.1pp
Current ratio1.08-1.03within the sector's middle half▼ 0.040.84below the sector's middle half▼ 0.200.83below the sector's middle half=0.38below the sector's middle half▼ 0.45
Return on assets (ROA)1.8%-2.8%within the sector's middle half▲ 1.0pp-4.2%below the sector's middle half▼ 7.0pp2.2%within the sector's middle half▲ 6.4pp-91.4%below the sector's middle half▼ 93.6pp
Staff (FTE)8.4-9.5within the sector's middle half▲ 13.1%9.5within the sector's middle half=9.5within the sector's middle half=0below the sector's middle half▼ 100%
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 a loss of €369,124, after a profit of €54,905 in 2022. It is the lowest result since 2019.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €425,242
Fixed assets
€161,409 ▼ 36.1%
Current assets
€263,832 ▼ 59.6%
Equity and liabilities
Equity-€354,341
Debt€779,582
Equity is negative. Debt (€779,582) exceeds the balance-sheet total (€425,242).
Key figures and ratios
EBITDA
-€344,901▼
2022 · €87,329
Cash flow
-€364,285▼
2022 · €52,568
Quick ratio
0.35▼
2022 · 0.65
Interest coverage
-17.77▼
2022 · 3.50
Debt ≤ 1 year
€695,327▼
2022 · €784,800
Debt > 1 year
€84,255▼
2022 · €86,967
Income taxes
€0▼
2022 · €16,250
Staff costs
€217,655▼
2022 · €304,513
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 10 | 5 |
| full-time | 9 | 5 |
| part-time | 1 | 0 |
| in full-time equivalents | 9.8 | 5 |
| Average over the year, in full-time equivalents | 12.1 | 6.5 |
| On a permanent contract | 10 | 5 |
| Joined | 7 | 1 |
| Left | 7 | 6 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Overdue social security (RSZ) debts | €233,965 | - | - |
Source: notes to the 2021 to 2023 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €148,233 | - | - |
| Depreciation and write-downs of the year | €28,162 | €32,423 | €24,223 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €494,752 | €304,513 | €217,655 | ▼ 28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,598 | €10,868 | €28,162 | €32,423 | €24,223 | ▼ 25.3% |
| Other operating charges640/8 | - | - | €23,940 | €15,599 | €63,068 | ▲ 304% |
| Non-recurring operating charges66A | - | - | €0 | - | - | - |
| Gross operating margin9900 | €398,856 | €372,427 | €525,789 | €407,441 | -€64,177 | - |
| Operating profit (loss)9901 | €14,981 | €19,225 | -€21,066 | €54,905 | -€369,124 | - |
| Financial income75/76B | - | - | €6,952 | €6,405 | €20 | ▼ 99.7% |
| Recurring financial income75 | €2,370 | €854 | €6,952 | €6,405 | €20 | ▼ 99.7% |
| Non-recurring financial income76B | - | - | €0 | - | - | - |
| Financial charges65/66B | - | - | €21,275 | €24,916 | €19,404 | ▼ 22.1% |
| Recurring financial charges65 | €6,799 | €9,881 | €21,275 | €24,916 | €19,404 | ▼ 22.1% |
| Profit (loss) for the period before taxes9903 | €10,552 | €18,198 | -€35,389 | €36,394 | -€388,508 | - |
| Income taxes67/77 | €2,397 | €0 | €941 | €16,250 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €8,155 | €18,198 | -€36,330 | €20,144 | -€388,508 | - |
| Profit (loss) for the period to be appropriated9905 | €8,155 | €18,198 | -€36,330 | €20,144 | -€388,508 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €461,996 | €654,803 | €866,517 | €905,935 | €425,242 | ▼ 53.1% |
| Fixed assets21/28 | - | €165,132 | €285,203 | €252,779 | €161,409 | ▼ 36.1% |
| Tangible fixed assets22/27 | - | €165,132 | €285,203 | €252,779 | €161,409 | ▼ 36.1% |
| Plant, machinery and equipment23 | - | - | €285,203 | €252,779 | €161,409 | ▼ 36.1% |
| Current assets29/58 | €461,996 | €489,671 | €581,315 | €653,156 | €263,832 | ▼ 59.6% |
| Stocks and contracts in progress3 | €4,330 | €116,660 | €100,167 | €146,915 | €21,197 | ▼ 85.6% |
| Stocks30/36 | - | - | €100,167 | €146,915 | €21,197 | ▼ 85.6% |
| Amounts receivable within one year40/41 | €450,265 | €327,522 | €454,600 | €489,304 | €242,066 | ▼ 50.5% |
| Trade receivables40 | - | - | €205,764 | €202,092 | €98,895 | ▼ 51.1% |
| Other amounts receivable41 | - | - | €248,836 | €287,212 | €143,171 | ▼ 50.2% |
| Cash at bank and in hand54/58 | €7,401 | €45,489 | €23,484 | €16,367 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | - | €3,063 | €569 | €569 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €461,996 | €654,803 | €866,517 | €905,935 | €425,242 | ▼ 53.1% |
| Equity10/15 | €32,155 | €50,353 | €14,023 | €34,168 | -€354,341 | - |
| Contributions10/11 | €24,000 | - | €24,000 | €24,000 | €24,000 | = |
| Reserves13 | €8,155 | €8,155 | €8,155 | €8,155 | €8,155 | = |
| Non-distributable reserves130/1 | - | - | €408 | €408 | €408 | = |
| Reserves not available under the articles1311 | - | - | €408 | €408 | €408 | = |
| Distributable reserves133 | - | - | €7,747 | €7,747 | €7,747 | = |
| Profit (loss) carried forward14 | - | €18,198 | -€18,132 | €2,012 | -€386,496 | - |
| Amounts payable17/49 | €429,840 | €604,450 | €852,494 | €871,768 | €779,582 | ▼ 10.6% |
| Amounts payable after more than one year17 | - | €130,412 | €157,983 | €86,967 | €84,255 | ▼ 3.1% |
| Financial debts170/4 | - | - | €157,983 | €86,967 | €84,255 | ▼ 3.1% |
| Amounts payable within one year42/48 | €428,601 | €474,038 | €694,511 | €784,800 | €695,327 | ▼ 11.4% |
| Current portion of amounts payable after more than one year42 | - | - | €69,693 | €90,910 | €3,536 | ▼ 96.1% |
| Financial debts43 | - | - | €100,000 | €100,000 | €106,210 | ▲ 6.2% |
| Credit institutions430/8 | - | - | €100,000 | €100,000 | €106,210 | ▲ 6.2% |
| Trade debts44 | €215,783 | €260,691 | €253,783 | €396,928 | €335,297 | ▼ 15.5% |
| Suppliers440/4 | - | - | €253,783 | €396,928 | €335,297 | ▼ 15.5% |
| Taxes, remuneration and social security45 | - | - | €271,034 | €196,961 | €232,959 | ▲ 18.3% |
| Taxes450/3 | - | - | €4,899 | €4,661 | €1,633 | ▼ 65.0% |
| Remuneration and social security454/9 | - | - | €266,136 | €192,300 | €231,327 | ▲ 20.3% |
| Other amounts payable47/48 | - | - | €0 | - | €17,324 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,155 | €18,198 | -€36,330 | €20,144 | -€388,508 | - |
| + Depreciation and write-downs630 | €4,598 | €10,868 | €28,162 | €32,423 | €24,223 | ▼ 25.3% |
| Operating cash flow (approximation) | €12,753 | €29,066 | -€8,168 | €52,568 | -€364,285 | - |
| Investment in fixed assets (approximation) | - | - | -€148,233 | €0 | €67,146 | - |
| Change in cash | - | €38,088 | -€22,005 | -€7,117 | -€16,367 | ▼ 130% |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | abbreviated format | 12-06-2024 | 2024-00126956 | |
| 31-12-2022 | abbreviated format | 25-08-2023 | 2023-00357746 | |
| 31-12-2021 | abbreviated format | 27-06-2022 | 2022-20102815 | |
| 31-12-2020 | abbreviated format | 05-08-2021 | 2021-46800304 | |
| 31-12-2019 | abbreviated format | 29-07-2020 | 2020-35300040 |