SANI CONSTRUCT GROUP
Open bankruptcyFinancials · financial year 2022, micro format
2022 annual accounts filed 73 days after the deadline Filed on 12 October 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00489297.
Annual accounts 2022 filed on 12-10-2023 PDF all 11 filings
Turnover
€634,202▼ 27.8%
2021 · €878,717
EBIT margin
4.1%▲ 2.0pp
2021 · 2.1%
Net result
€6,244▲ 57.0%
2021 · €3,976
Working capital
€215,052▲ 254%
2021 · €60,753
Multi-year overview
2018 to 2022, 5 financial yearsTurnover
€634,202
▼ 27.8%
2022
20182022
Operating result
€25,952
▲ 38.0%
2022
20182022
Net result
€6,244
▲ 57.0%
2022
middle half of the sector
20182022
EBIT margin
4.1%
▲ 2.0pp
2022
20182022
Equity
€55,683
▲ 12.6%
2022
middle half of the sector
20182022
Total assets
€845,049
▲ 51.6%
2022
highest quarter of the sector
20182022
Debt
€789,366
▲ 55.4%
2022
20182022
Working capital
€215,052
▲ 254%
2022
highest quarter of the sector
20182022
Solvency
6.6%
▼ 2.3pp
2022
middle half of the sector
20182022
Current ratio
1.35
▲ 0.22
2022
middle half of the sector
20182022
Return on assets (ROA)
0.7%
=
2022
middle half of the sector
20182022
Staff (FTE)
2
2022
20182022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022
Turnover€462,492€615,099▲ 33.0%€878,717▲ 42.9%€634,202▼ 27.8%
Operating result€140,999-€26,859▼ 81.0%€44,595▲ 66.0%€18,809▼ 57.8%€25,952▲ 38.0%
Net result€117,455-€13,032▼ 88.9%€33,332above the sector's middle half▲ 156%€3,976within the sector's middle half▼ 88.1%€6,244within the sector's middle half▲ 57.0%
EBIT margin5.8%7.2%▲ 1.4pp2.1%▼ 5.1pp4.1%▲ 2.0pp
Equity-€901-€12,130€45,463within the sector's middle half▲ 275%€49,439within the sector's middle half▲ 8.7%€55,683within the sector's middle half▲ 12.6%
Total assets€259,429-€264,198▲ 1.8%€373,155above the sector's middle half▲ 41.2%€557,331above the sector's middle half▲ 49.4%€845,049above the sector's middle half▲ 51.6%
Debt€260,330-€252,068▼ 3.2%€327,693▲ 30.0%€507,892▲ 55.0%€789,366▲ 55.4%
Working capital-€68,754--€17,885▲ 74.0%€61,877within the sector's middle half€60,753within the sector's middle half▼ 1.8%€215,052above the sector's middle half▲ 254%
Solvency-0.3%-4.6%▲ 4.9pp12.2%within the sector's middle half▲ 7.6pp8.9%within the sector's middle half▼ 3.3pp6.6%within the sector's middle half▼ 2.3pp
Current ratio0.69-0.92▲ 0.221.23within the sector's middle half▲ 0.311.13within the sector's middle half▼ 0.101.35within the sector's middle half▲ 0.22
Return on assets (ROA)45.3%-4.9%▼ 40.3pp8.9%within the sector's middle half▲ 4.0pp0.7%within the sector's middle half▼ 8.2pp0.7%within the sector's middle half=
Staff (FTE)0.12
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 2022 is 38% higher than in 2021. It is a recovery after the fall in 2021.
Large changes and their cause
- 2019 Net result -89% on 2018. The accounts now follow the micro format, last year the abbreviated format.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €845,049
Fixed assets
€17,832 ▲ 12.2%
Current assets
€827,217 ▲ 52.8%
Equity and liabilities €845,049
Equity
€55,683 ▲ 12.6%
Debt
€789,366 ▲ 55.4%
Debt's share of the balance-sheet total rises from 91.1% to 93.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29,643▼
2021 · €52,862
Cash flow
€9,934▼
2021 · €38,030
Quick ratio
0.53▲
2021 · 0.17
Debt to equity
14.18▲
2021 · 10.27
ROE
11.2%▲
2021 · 8.0%
Interest coverage
2.15▼
2021 · 8.03
Debt ≤ 1 year
€612,165▲
2021 · €480,690
Debt > 1 year
€177,201▲
2021 · €27,201
Income taxes
€5,914▼
2021 · €8,250
Customer credit
164 days▲
2021 · 28 days
Supplier credit
237 days▲
2021 · 137 days
Staff costs
€41,923▲
2021 · €1,770
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 |
|---|---|
| Employees at the balance-sheet date | 2 |
| part-time | 2 |
| in full-time equivalents | 1.1 |
| Average over the year, in full-time equivalents | 1.1 |
| On a permanent contract | 2 |
Source: social balance sheet in the 2022 annual accounts
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | €7,426 | €1,450 |
| Financial fixed assets | - | €4,185 |
| Depreciation and write-downs of the year | €34,053 | €3,691 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €462,492 | €615,099 | €878,717 | €634,202 | ▼ 27.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €809,757 | €546,710 | ▼ 32.5% |
| Remuneration, social security and pensions62 | - | - | - | €1,770 | €41,923 | ▲ 24× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,437 | €33,438 | €33,606 | €34,053 | €3,691 | ▼ 89.2% |
| Other operating charges640/8 | - | - | - | €14,329 | €15,927 | ▲ 11.2% |
| Gross operating margin9900 | €187,387 | €83,167 | €88,072 | €68,961 | €87,493 | ▲ 26.9% |
| Operating profit (loss)9901 | €140,999 | €26,859 | €44,595 | €18,809 | €25,952 | ▲ 38.0% |
| Financial income75/76B | - | - | - | €0 | €0 | ▲ 425% |
| Recurring financial income75 | €6 | €47 | €56 | €0 | €0 | ▲ 425% |
| Financial charges65/66B | - | - | - | €6,582 | €13,795 | ▲ 110% |
| Recurring financial charges65 | €7,150 | €8,301 | €3,438 | €6,582 | €13,795 | ▲ 110% |
| Profit (loss) for the period before taxes9903 | €133,855 | €18,604 | €41,213 | €12,227 | €12,158 | ▼ 0.6% |
| Income taxes67/77 | €16,399 | €5,573 | €7,880 | €8,250 | €5,914 | ▼ 28.3% |
| Profit (loss) for the period9904 | €117,455 | €13,032 | €33,332 | €3,976 | €6,244 | ▲ 57.0% |
| Profit (loss) for the period to be appropriated9905 | €117,455 | €13,032 | €33,332 | €3,976 | €6,244 | ▲ 57.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €259,429 | €264,198 | €373,155 | €557,331 | €845,049 | ▲ 51.6% |
| Fixed assets21/28 | €103,569 | €65,732 | €42,515 | €15,888 | €17,832 | ▲ 12.2% |
| Tangible fixed assets22/27 | €99,169 | €65,732 | €33,515 | €6,888 | €4,647 | ▼ 32.5% |
| Plant, machinery and equipment23 | - | - | - | €2,658 | €2,263 | ▼ 14.9% |
| Furniture and vehicles24 | - | - | - | €2,802 | €1,109 | ▼ 60.4% |
| Other tangible fixed assets26 | - | - | - | €1,428 | €1,275 | ▼ 10.7% |
| Financial fixed assets28 | €4,400 | - | €9,000 | €9,000 | €13,185 | ▲ 46.5% |
| Current assets29/58 | €155,860 | €198,466 | €330,641 | €541,443 | €827,217 | ▲ 52.8% |
| Stocks and contracts in progress3 | €145,278 | €177,661 | €285,789 | €461,578 | €503,578 | ▲ 9.1% |
| Stocks30/36 | - | - | - | €461,578 | €503,578 | ▲ 9.1% |
| Amounts receivable within one year40/41 | €6,441 | €18,292 | €35,737 | €78,190 | €304,225 | ▲ 289% |
| Trade receivables40 | - | - | - | €67,849 | €284,225 | ▲ 319% |
| Other amounts receivable41 | - | - | - | €10,341 | €20,000 | ▲ 93.4% |
| Cash at bank and in hand54/58 | €1,133 | €1,987 | €8,211 | €881 | €881 | = |
| Deferred charges and accrued income490/1 | - | - | - | €793 | €18,533 | ▲ 23× |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €259,429 | €264,198 | €373,155 | €557,331 | €845,049 | ▲ 51.6% |
| Equity10/15 | -€901 | €12,130 | €45,463 | €49,439 | €55,683 | ▲ 12.6% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €55,000 | €55,000 | = |
| Contributions outside capital11 | - | - | - | €55,000 | €55,000 | = |
| Other1109/19 | - | - | - | €55,000 | €55,000 | = |
| Reserves13 | €5,000 | €5,000 | €5,000 | - | - | - |
| Profit (loss) carried forward14 | -€55,901 | -€42,870 | -€9,537 | -€5,561 | €683 | - |
| Amounts payable17/49 | €260,330 | €252,068 | €327,693 | €507,892 | €789,366 | ▲ 55.4% |
| Amounts payable after more than one year17 | €35,716 | €35,716 | €58,929 | €27,201 | €177,201 | ▲ 551% |
| Financial debts170/4 | - | - | - | €27,201 | €177,201 | ▲ 551% |
| Amounts payable within one year42/48 | €224,614 | €216,351 | €268,764 | €480,690 | €612,165 | ▲ 27.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €28,455 | €11,343 | ▼ 60.1% |
| Financial debts43 | - | - | - | €97 | €26,701 | ▲ 274× |
| Credit institutions430/8 | - | - | - | €97 | €26,701 | ▲ 274× |
| Trade debts44 | €134,226 | €94,636 | €156,058 | €304,745 | €354,878 | ▲ 16.5% |
| Suppliers440/4 | - | - | - | €304,745 | €354,878 | ▲ 16.5% |
| Taxes, remuneration and social security45 | - | - | - | €90,393 | €36,114 | ▼ 60.0% |
| Taxes450/3 | - | - | - | €90,393 | €30,758 | ▼ 66.0% |
| Remuneration and social security454/9 | - | - | - | - | €5,355 | - |
| Other amounts payable47/48 | - | - | - | €57,000 | €183,129 | ▲ 221% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €117,455 | €13,032 | €33,332 | €3,976 | €6,244 | ▲ 57.0% |
| + Depreciation and write-downs630 | €33,437 | €33,438 | €33,606 | €34,053 | €3,691 | ▼ 89.2% |
| Operating cash flow (approximation) | €150,892 | €46,469 | €66,938 | €38,030 | €9,934 | ▼ 73.9% |
| Investment in fixed assets (approximation) | - | €4,400 | -€10,389 | -€7,426 | -€5,635 | ▲ 24.1% |
| Change in cash | - | €855 | €6,223 | -€7,329 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2022 | micro format | 12-10-2023 | 2023-00489297 | |
| 31-12-2021 | micro format | 13-07-2022 | 2022-20192507 | |
| 31-12-2020 | micro format | 09-09-2021 | 2021-66700418 | |
| 31-12-2019 | micro format | 24-07-2020 | 2020-33700601 | |
| 31-12-2018 | abbreviated format | 18-09-2019 | 2019-64700388 | |
| 31-12-2017 | abbreviated format | 24-09-2018 | 2018-64600100 | |
| 31-12-2016 | abbreviated format | 17-08-2017 | 2017-44300474 | |
| 31-12-2015 | abbreviated format | 08-08-2016 | 2016-41000370 | |
| 31-12-2014 | abbreviated format | 15-07-2015 | 2015-31400363 | |
| 31-12-2013 | abbreviated format | 04-06-2014 | 2014-15600304 |