INSIDE BUILDING
Open bankruptcyFinancials · financial year 2021, abbreviated format
2021 annual accounts filed 61 days after the deadline Filed on 30 September 2022, deadline 31 July 2022 (7 months after the close on 31 December 2021, Companies Code art. 3:10). Source: NBB, 2022-20448954.
Annual accounts 2021 filed on 30-09-2022 PDF all 7 filings
Turnover
≈ €3.3m
Estimated: probably between €2.5m and €4.4m
Total assets
€2.3m▼ 7.4%
2020 · €2.5m
Net result
-€117,515
2020 · €53,427
Working capital
€323,164
2020 · -€184,017
Multi-year overview
2018 to 2021, 4 financial yearsOperating result
-€3,274
2021
20182021
Net result
-€117,515
2021
lowest quarter of the sector
20182021
Equity
€137,441
▼ 46.1%
2021
middle half of the sector
20182021
Total assets
€2.3m
▼ 7.4%
2021
highest quarter of the sector
20182021
Debt
€2.2m
▼ 3.1%
2021
20182021
Working capital
€323,164
2021
middle half of the sector
20182021
Solvency
5.9%
▼ 4.2pp
2021
lowest quarter of the sector
20182021
Current ratio
1.20
▲ 0.31
2021
middle half of the sector
20182021
Return on assets (ROA)
-5.0%
▼ 7.1pp
2021
lowest quarter of the sector
20182021
Staff (FTE)
17.6
▲ 22.2%
2021
highest quarter of the sector
20182021
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result€0.09m-€0.09m▲ 0.5%€0.09m▼ 4.4%-€0.003m
Net result€0.05m-€0.03m▼ 35.3%€0.05mwithin the sector's middle half▲ 58.0%-€0.1mbelow the sector's middle half
Equity€0.2m-€0.2m▲ 20.2%€0.3mwithin the sector's middle half▲ 26.5%€0.1mwithin the sector's middle half▼ 46.1%
Total assets€2.2m-€2.3m▲ 5.9%€2.5mabove the sector's middle half▲ 10.5%€2.3mabove the sector's middle half▼ 7.4%
Debt€2.0m-€2.1m▲ 4.7%€2.3m▲ 9.0%€2.2m▼ 3.1%
Working capital-€0.3m--€0.2m▲ 31.6%-€0.2mbelow the sector's middle half▲ 1.6%€0.3mwithin the sector's middle half
Solvency7.7%-8.8%▲ 1.0pp10.1%below the sector's middle half▲ 1.3pp5.9%below the sector's middle half▼ 4.2pp
Current ratio0.82-0.88▲ 0.060.90below the sector's middle half▲ 0.011.20within the sector's middle half▲ 0.31
Return on assets (ROA)2.4%-1.5%▼ 0.9pp2.1%within the sector's middle half▲ 0.6pp-5.0%below the sector's middle half▼ 7.1pp
Staff (FTE)12.1-14.5▲ 19.8%14.4above the sector's middle half▼ 0.7%17.6above the sector's middle half▲ 22.2%
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 2021 is a loss of €3,274, after a profit of €87,324 in 2020. It is the lowest result since 2018.
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
2021 in colour, 2020 as the grey bar beneath
Assets €2.3m
Fixed assets
€417,424 ▼ 56.4%
Current assets
€1.9m ▲ 22.7%
Equity and liabilities €2.3m
Equity
€137,441 ▼ 46.1%
Debt
€2.2m ▼ 3.1%
Debt's share of the balance-sheet total rises from 89.9% to 94.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€128,584▼
2020 · €247,126
Cash flow
€14,343▼
2020 · €213,229
Quick ratio
0.91▲
2020 · 0.67
Debt to equity
16.09▲
2020 · 2.05
ROE
-85.5%▼
2020 · 21.0%
Interest coverage
1.96
Debt ≤ 1 year
€1.6m▼
2020 · €1.8m
Debt > 1 year
€603,147▲
2020 · €522,723
Income taxes
€5,720▼
2020 · €11,940
Staff costs
€1.0m
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 | 21 |
| full-time | 20 |
| part-time | 1 |
| in full-time equivalents | 20.2 |
| Average over the year, in full-time equivalents | 17.6 |
| On a permanent contract | 19 |
| Joined | 13 |
| Left | 7 |
| Training hours | 12 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 |
|---|---|
| Tangible fixed assets | €240,130 |
| Intangible fixed assets | €4,236 |
| Financial fixed assets | €26,284 |
| Depreciation and write-downs of the year | €131,859 |
Source: notes to the 2021 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €171 awarded · €171 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.1m | - |
| Remuneration, social security and pensions62 | - | - | - | €1.0m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 17.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.01m | - |
| Other operating charges640/8 | - | - | - | €0.04m | - |
| Non-recurring operating charges66A | - | - | - | €0.01m | - |
| Gross operating margin9900 | €0.9m | €1.1m | €1.2m | €1.2m | ▼ 0.3% |
| Operating profit (loss)9901 | €0.09m | €0.09m | €0.09m | -€0.003m | - |
| Financial income75/76B | - | - | - | €0.003m | - |
| Recurring financial income75 | €0.008m | €0.01m | €0.002m | €0.003m | ▲ 3.1% |
| Non-recurring financial income76B | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €0.1m | - |
| Recurring financial charges65 | €0.03m | €0.06m | €0.02m | €0.07m | ▲ 169% |
| Non-recurring financial charges66B | - | - | - | €0.05m | - |
| Profit (loss) for the period before taxes9903 | €0.07m | €0.05m | €0.07m | -€0.1m | - |
| Income taxes67/77 | €0.01m | €0.02m | €0.01m | €0.006m | ▼ 52.1% |
| Profit (loss) for the period9904 | €0.05m | €0.03m | €0.05m | -€0.1m | - |
| Profit (loss) for the period to be appropriated9905 | €0.05m | €0.03m | €0.05m | -€0.1m | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.2m | €2.3m | €2.5m | €2.3m | ▼ 7.4% |
| Formation expenses20 | €0.01m | €0.007m | €0.003m | €0 | ▼ 100% |
| Fixed assets21/28 | €0.9m | €0.9m | €1.0m | €0.4m | ▼ 56.4% |
| Intangible fixed assets21 | €0.08m | €0.06m | €0.04m | €0.01m | ▼ 70.2% |
| Tangible fixed assets22/27 | €0.9m | €0.8m | €0.9m | €0.4m | ▼ 58.6% |
| Land and buildings22 | - | - | - | €0 | - |
| Plant, machinery and equipment23 | - | - | - | €0.2m | - |
| Furniture and vehicles24 | - | - | - | €0.1m | - |
| Other tangible fixed assets26 | - | - | - | €0.05m | - |
| Financial fixed assets28 | €259 | €259 | €0.002m | €0.03m | ▲ 12× |
| Current assets29/58 | €1.2m | €1.4m | €1.6m | €1.9m | ▲ 22.7% |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.4m | €0.5m | ▲ 18.9% |
| Stocks30/36 | - | - | - | €0.5m | - |
| Contracts in progress37 | - | - | - | €0 | - |
| Amounts receivable within one year40/41 | €0.7m | €1.0m | €0.8m | €1.4m | ▲ 72.6% |
| Trade receivables40 | - | - | - | €1.3m | - |
| Other amounts receivable41 | - | - | - | €0.03m | - |
| Cash at bank and in hand54/58 | €0.2m | €0.06m | €0.02m | €0.06m | ▲ 289% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.2m | €2.3m | €2.5m | €2.3m | ▼ 7.4% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.1m | ▼ 46.1% |
| Contributions10/11 | €0.1m | €0.1m | - | €0.1m | - |
| Reserves13 | €0.04m | €0.08m | €0.1m | €0.01m | ▼ 90.4% |
| Non-distributable reserves130/1 | - | - | - | €0.005m | - |
| Reserves not available under the articles1311 | - | - | - | €0.005m | - |
| Distributable reserves133 | - | - | - | €0.007m | - |
| Amounts payable17/49 | €2.0m | €2.1m | €2.3m | €2.2m | ▼ 3.1% |
| Amounts payable after more than one year17 | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 15.4% |
| Financial debts170/4 | - | - | - | €0.6m | - |
| Amounts payable within one year42/48 | €1.5m | €1.6m | €1.8m | €1.6m | ▼ 8.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | - |
| Financial debts43 | - | - | - | €0.3m | - |
| Credit institutions430/8 | - | - | - | €0.3m | - |
| Trade debts44 | €0.4m | €0.7m | €0.9m | €1.1m | ▲ 19.0% |
| Suppliers440/4 | - | - | - | €1.1m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | - |
| Taxes450/3 | - | - | - | €0.01m | - |
| Remuneration and social security454/9 | - | - | - | €0.1m | - |
| Other amounts payable47/48 | - | - | - | €288 | - |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,260 | €33,809 | €53,427 | -€117,515 | - |
| + Depreciation and write-downs630 | €141,168 | €155,883 | €159,803 | €131,859 | ▼ 17.5% |
| Operating cash flow (approximation) | €193,428 | €189,691 | €213,229 | €14,343 | ▼ 93.3% |
| Investment in fixed assets (approximation) | - | -€110,511 | -€226,315 | €409,096 | - |
| Change in cash | - | -€108,288 | -€45,245 | €47,249 | - |
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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | abbreviated format | 30-09-2022 | 2022-20448954 | |
| 31-12-2020 | abbreviated format | 07-08-2021 | 2021-48100550 | |
| 31-12-2019 | abbreviated format | 13-08-2020 | 2020-42400526 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-57800150 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-61600463 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-58300116 | |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-58900141 |