IONELA CONSTRUCT
Open bankruptcyFinancials · financial year 2023, micro format
2023 annual accounts filed 111 days after the deadline Filed on 19 November 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00602399.
Annual accounts 2023 filed on 19-11-2024 PDF all 3 filings
Turnover
≈ €320,000
Estimated: probably between €240,000 and €650,000
Total assets
€235,463▲ 23.3%
2022 · €190,912
Net result
€43,908▼ 57.3%
2022 · €102,799
Working capital
€113,088▲ 25.6%
2022 · €90,052
Multi-year overview
2021 to 2023, 3 financial yearsOperating result
€42,987
▼ 66.2%
2023
20212023
Net result
€43,908
▼ 57.3%
2023
highest quarter of the sector
20212023
Equity
€129,051
▲ 12.1%
2023
middle half of the sector
20212023
Total assets
€235,463
▲ 23.3%
2023
middle half of the sector
20212023
Debt
€106,412
▲ 40.4%
2023
20212023
Working capital
€113,088
▲ 25.6%
2023
highest quarter of the sector
20212023
Solvency
54.8%
▼ 5.5pp
2023
middle half of the sector
20212023
Current ratio
2.29
▼ 0.49
2023
middle half of the sector
20212023
Return on assets (ROA)
18.6%
▼ 35.2pp
2023
highest quarter of the sector
20212023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202120222023
Operating result€26,541-€127,319▲ 380%€42,987▼ 66.2%
Net result€15,343within the sector's middle half-€102,799above the sector's middle half▲ 570%€43,908above the sector's middle half▼ 57.3%
Equity€12,343below the sector's middle half-€115,142within the sector's middle half▲ 833%€129,051within the sector's middle half▲ 12.1%
Total assets€37,864below the sector's middle half-€190,912within the sector's middle half▲ 404%€235,463within the sector's middle half▲ 23.3%
Debt€25,520-€75,770▲ 197%€106,412▲ 40.4%
Working capital-€3,148below the sector's middle half-€90,052above the sector's middle half€113,088above the sector's middle half▲ 25.6%
Solvency32.6%within the sector's middle half-60.3%within the sector's middle half▲ 27.7pp54.8%within the sector's middle half▼ 5.5pp
Current ratio0.88below the sector's middle half-2.79within the sector's middle half▲ 1.912.29within the sector's middle half▼ 0.49
Return on assets (ROA)40.5%above the sector's middle half-53.8%above the sector's middle half▲ 13.3pp18.6%above the sector's middle half▼ 35.2pp
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 66% lower than in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €235,463
Fixed assets
€35,023 ▼ 30.5%
Current assets
€200,440 ▲ 42.7%
Equity and liabilities €235,463
Equity
€129,051 ▲ 12.1%
Debt
€106,412 ▲ 40.4%
Debt's share of the balance-sheet total rises from 39.7% to 45.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€60,060▼
2022 · €136,338
Cash flow
€60,982▼
2022 · €111,817
Debt to equity
0.82▲
2022 · 0.66
ROE
34.0%▼
2022 · 89.3%
Interest coverage
25.19▼
2022 · over 100
Debt ≤ 1 year
€87,352▲
2022 · €50,444
Debt > 1 year
€19,060▼
2022 · €25,325
Income taxes
€4,000▼
2022 · €28,935
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €17,714 | €43,943 | €1,680 |
| Depreciation and write-downs of the year | €2,223 | €9,018 | €17,073 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,223 | €9,018 | €17,073 | ▲ 89.3% |
| Other operating charges640/8 | €455 | €2,401 | €2,568 | ▲ 7.0% |
| Gross operating margin9900 | €29,218 | €138,738 | €62,629 | ▼ 54.9% |
| Operating profit (loss)9901 | €26,541 | €127,319 | €42,987 | ▼ 66.2% |
| Financial income75/76B | €26 | €5,108 | €7,306 | ▲ 43.0% |
| Recurring financial income75 | €26 | €5,108 | €7,306 | ▲ 43.0% |
| Financial charges65/66B | €86 | €694 | €2,385 | ▲ 244% |
| Recurring financial charges65 | €86 | €694 | €2,385 | ▲ 244% |
| Profit (loss) for the period before taxes9903 | €26,480 | €131,734 | €47,908 | ▼ 63.6% |
| Income taxes67/77 | €11,137 | €28,935 | €4,000 | ▼ 86.2% |
| Profit (loss) for the period9904 | €15,343 | €102,799 | €43,908 | ▼ 57.3% |
| Profit (loss) for the period to be appropriated9905 | €15,343 | €102,799 | €43,908 | ▼ 57.3% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €37,864 | €190,912 | €235,463 | ▲ 23.3% |
| Fixed assets21/28 | €15,491 | €50,416 | €35,023 | ▼ 30.5% |
| Tangible fixed assets22/27 | €15,491 | €50,416 | €35,023 | ▼ 30.5% |
| Plant, machinery and equipment23 | - | €2,259 | €2,947 | ▲ 30.5% |
| Furniture and vehicles24 | €15,491 | €48,157 | €32,076 | ▼ 33.4% |
| Current assets29/58 | €22,373 | €140,496 | €200,440 | ▲ 42.7% |
| Amounts receivable within one year40/41 | €16,295 | €124,216 | €198,668 | ▲ 59.9% |
| Trade receivables40 | €14,035 | €8,096 | €45,749 | ▲ 465% |
| Other amounts receivable41 | €2,260 | €116,120 | €152,919 | ▲ 31.7% |
| Cash at bank and in hand54/58 | €6,000 | €15,000 | €1,772 | ▼ 88.2% |
| Deferred charges and accrued income490/1 | €78 | €1,280 | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €37,864 | €190,912 | €235,463 | ▲ 23.3% |
| Equity10/15 | €12,343 | €115,142 | €129,051 | ▲ 12.1% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Contributions outside capital11 | - | - | €5,000 | - |
| Other1109/19 | - | - | €5,000 | - |
| Reserves13 | - | €110,142 | €110,642 | ▲ 0.5% |
| Non-distributable reserves130/1 | - | - | €500 | - |
| Reserves not available under the articles1311 | - | - | €500 | - |
| Distributable reserves133 | - | €110,142 | €110,142 | = |
| Profit (loss) carried forward14 | €7,343 | €0 | €13,408 | - |
| Amounts payable17/49 | €25,520 | €75,770 | €106,412 | ▲ 40.4% |
| Amounts payable after more than one year17 | - | €25,325 | €19,060 | ▼ 24.7% |
| Financial debts170/4 | - | €25,325 | €19,060 | ▼ 24.7% |
| Amounts payable within one year42/48 | €25,520 | €50,444 | €87,352 | ▲ 73.2% |
| Current portion of amounts payable after more than one year42 | - | €5,939 | €6,265 | ▲ 5.5% |
| Trade debts44 | €11,912 | €1,418 | €7,015 | ▲ 395% |
| Suppliers440/4 | €11,912 | €1,418 | €7,015 | ▲ 395% |
| Taxes, remuneration and social security45 | €13,594 | €43,087 | €44,072 | ▲ 2.3% |
| Taxes450/3 | €13,594 | €43,087 | €44,072 | ▲ 2.3% |
| Other amounts payable47/48 | €15 | €0 | €30,000 | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,343 | €102,799 | €43,908 | ▼ 57.3% |
| + Depreciation and write-downs630 | €2,223 | €9,018 | €17,073 | ▲ 89.3% |
| Operating cash flow (approximation) | €17,566 | €111,817 | €60,982 | ▼ 45.5% |
| Investment in fixed assets (approximation) | - | -€43,943 | -€1,680 | ▲ 96.2% |
| Change in cash | - | €9,000 | -€13,228 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.