SIDAL

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Private limited companyfounded 2012Striemenbergstraat 13, 9040 Gent, BelgiumKBO/BCE: BE 0845.900.772

SIDALOpen bankruptcy

Report

Financials · financial year 2023, micro format

2023 annual accounts filed 28 days after the deadline Filed on 28 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00383592.

Annual accounts 2023 filed on 28-08-2024 PDF all 11 filings

Turnover

≈ €1.1m

Estimated: probably between €760,000 and €1.6m

Total assets

€399,308▼ 4.7%

2022 · €419,121

Net result

€15,200▼ 82.7%

2022 · €87,954

Working capital

€164,335▲ 11.9%

2022 · €146,865

Multi-year overview

2018 to 2023, 6 financial years

Operating result

€49,223

▼ 59.2% 2023

20182023

Net result

€15,200

▼ 82.7% 2023

middle half of the sector

20182023

Equity

€189,001

▲ 8.7% 2023

highest quarter of the sector

20182023

Total assets

€399,308

▼ 4.7% 2023

highest quarter of the sector

20182023

Debt

€210,307

▼ 14.3% 2023

20182023

Working capital

€164,335

▲ 11.9% 2023

highest quarter of the sector

20182023

Solvency

47.3%

▲ 5.9pp 2023

middle half of the sector

20182023

Current ratio

1.87

▲ 0.16 2023

middle half of the sector

20182023

Return on assets (ROA)

3.8%

▼ 17.2pp 2023

middle half of the sector

20182023

Staff (FTE)

▲ 73.1% 2023

20182023

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line201820192020202120222023

Operating result-€14,431-€16,121€14,257▼ 11.6%€25,010▲ 75.4%€120,786▲ 383%€49,223▼ 59.2%

Net result-€5,652-€14,662€15,659▲ 6.8%€16,083▲ 2.7%€87,954▲ 447%€15,200▼ 82.7%

Equity€111,443-€126,105▲ 13.2%€69,764▼ 44.7%€85,847▲ 23.1%€173,802▲ 102%€189,001▲ 8.7%

Total assets€171,977-€192,172▲ 11.7%€254,539▲ 32.5%€214,856▼ 15.6%€419,121▲ 95.1%€399,308▼ 4.7%

Debt€60,534-€66,067▲ 9.1%€184,775▲ 180%€129,008▼ 30.2%€245,319▲ 90.2%€210,307▼ 14.3%

Working capital€107,132-€117,600▲ 9.8%€60,941▼ 48.2%€64,319▲ 5.5%€146,865▲ 128%€164,335▲ 11.9%

Solvency64.8%-65.6%▲ 0.8pp27.4%▼ 38.2pp40.0%▲ 12.5pp41.5%▲ 1.5pp47.3%▲ 5.9pp

Current ratio2.77-4.30▲ 1.531.37▼ 2.931.71▲ 0.341.71=1.87▲ 0.16

Return on assets (ROA)-3.3%-7.6%▲ 10.9pp6.2%▼ 1.5pp7.5%▲ 1.3pp21.0%▲ 13.5pp3.8%▼ 17.2pp

Staff (FTE)3.1-1.6▼ 48.4%2.3▲ 43.8%5.3▲ 130%5.2▼ 1.9%9▲ 73.1%

above within below The sector band is the middle half of the companies in Civil engineering (NACE 42). 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 59% lower than in 2022.

Turnover and EBIT margin are not published. The abbreviated or 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 €399,308

12%

88.4%

Fixed assets €46,320 ▼ 30.2%

Current assets €352,989 ▲ 0.1%

Equity and liabilities €399,308

47.3%

52.7%

Equity €189,001 ▲ 8.7%

Debt €210,307 ▼ 14.3%

Debt's share of the balance-sheet total falls from 58.5% to 52.7%. Equity is higher and debt is lower.

Key figures and ratios

2023 value · change against 2022

EBITDA

€73,877▼

2022 · €142,687

Cash flow

€39,854▼

2022 · €109,855

Debt to equity

1.11▼

2022 · 1.41

ROE

8.0%▼

2022 · 50.6%

Interest coverage

20.11▼

2022 · 51.84

Debt ≤ 1 year

€188,654▼

2022 · €205,866

Debt > 1 year

€21,654▼

2022 · €39,454

Income taxes

€35,394▼

2022 · €35,721

Staff costs

€390,573▲

2022 · €232,772

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet

Item	31-12-2021	31-12-2022	31-12-2023
Employees at the balance-sheet date	4	8	8
full-time	4	8	8
in full-time equivalents	4	8	8
Average over the year, in full-time equivalents	5.3	5.2	9
On a permanent contract	4	8	7
Joined	3	5	10
Left	2	1	10

Source: social balance sheet in the 2021 to 2023 annual accounts

Investments

fixed assets acquired

Item	2021	2022	2023
Tangible fixed assets	€42,008	€27,845	€4,583
Financial fixed assets	€5,790	-	-
Depreciation and write-downs of the year	€18,093	€21,901	€24,654

Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2023 against 2022 · 49 lines

Balance sheet Code20222023

Assets

Total assets20/58€419,121€399,308▼

Fixed assets21/28€66,391€46,320▼

Tangible fixed assets22/27€60,601€40,530▼

Plant, machinery and equipment23€4,199€6,880▲

Furniture and vehicles24€56,402€33,650▼

Financial fixed assets28€5,790€5,790=

Current assets29/58€352,730€352,989▲

Amounts receivable within one year40/41€254,503€295,324▲

Trade receivables40€156,740€191,098▲

Other amounts receivable41€97,763€104,226▲

Cash at bank and in hand54/58€97,689€54,590▼

Deferred charges and accrued income490/1€538€3,075▲

Equity and liabilities

Total equity and liabilities10/49€419,121€399,308▼

Equity10/15€173,802€189,001▲

Contributions10/11€12,400€12,400=

Reserves13€47,860€47,860=

Non-distributable reserves130/1€1,860-

Reserves not available under the articles1311€1,860-

Distributable reserves133€46,000€47,860▲

Profit (loss) carried forward14€113,542€128,741▲

Amounts payable17/49€245,319€210,307▼

Amounts payable after more than one year17€39,454€21,654▼

Financial debts170/4€39,454€21,654▼

Amounts payable within one year42/48€205,866€188,654▼

Current portion of amounts payable after more than one year42€21,910€17,793▼

Financial debts43€34-

Credit institutions430/8€34-

Trade debts44€122,056€105,876▼

Suppliers440/4€122,056€105,876▼

Taxes, remuneration and social security45€61,865€64,985▲

Taxes450/3€51,810€64,501▲

Remuneration and social security454/9€10,055€484▼

Income statement Code20222023

Remuneration, social security and pensions62€232,772€390,573▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21,901€24,654▲

Other operating charges640/8€5,709€79,964▲

Gross operating margin9900€381,167€544,415▲

Operating profit (loss)9901€120,786€49,223▼

Financial income75/76B€5,642€5,045▼

Recurring financial income75€5,642€5,045▼

Financial charges65/66B€2,753€3,675▲

Recurring financial charges65€2,753€3,675▲

Profit (loss) for the period before taxes9903€123,675€50,594▼

Income taxes67/77€35,721€35,394▼

Profit (loss) for the period9904€87,954€15,200▼

Profit (loss) for the period to be appropriated9905€87,954€15,200▼

Appropriation of the result

Profit (loss) to be appropriated9906€143,542€128,741▼

Profit (loss) brought forward from the previous period14P€55,587€113,542▲

Transfer to equity691/2€30,000-

To other reserves6921€30,000-

The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2023 (PDF), filed on 28-08-2024.

Line	2018	2019	2020	2021	2022	2023	Change
Remuneration, social security and pensions62	-	-	-	€173,649	€232,772	€390,573	▲ 67.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€3,948	€12,352	€10,125	€18,093	€21,901	€24,654	▲ 12.6%
Other operating charges640/8	-	-	-	€3,344	€5,709	€79,964	▲ 14×
Gross operating margin9900	€95,830	€93,636	€125,776	€220,096	€381,167	€544,415	▲ 42.8%
Operating profit (loss)9901	-€14,431	€16,121	€14,257	€25,010	€120,786	€49,223	▼ 59.2%
Financial income75/76B	-	-	-	€6,070	€5,642	€5,045	▼ 10.6%
Recurring financial income75	€8,181	€8,732	€10,825	€6,070	€5,642	€5,045	▼ 10.6%
Financial charges65/66B	-	-	-	€1,835	€2,753	€3,675	▲ 33.5%
Recurring financial charges65	€79	€691	€888	€1,835	€2,753	€3,675	▲ 33.5%
Profit (loss) for the period before taxes9903	-€6,329	€24,162	€24,194	€29,246	€123,675	€50,594	▼ 59.1%
Income taxes67/77	-€676	€9,500	€8,535	€13,163	€35,721	€35,394	▼ 0.9%
Profit (loss) for the period9904	-€5,652	€14,662	€15,659	€16,083	€87,954	€15,200	▼ 82.7%
Profit (loss) for the period to be appropriated9905	-€5,652	€14,662	€15,659	€16,083	€87,954	€15,200	▼ 82.7%

Line	2018	2019	2020	2021	2022	2023	Change
Assets
Total assets20/58	€171,977	€192,172	€254,539	€214,856	€419,121	€399,308	▼ 4.7%
Fixed assets21/28	€4,311	€38,947	€30,741	€60,447	€66,391	€46,320	▼ 30.2%
Tangible fixed assets22/27	€3,811	€38,947	€30,741	€54,657	€60,601	€40,530	▼ 33.1%
Plant, machinery and equipment23	-	-	-	€2,659	€4,199	€6,880	▲ 63.9%
Furniture and vehicles24	-	-	-	€51,997	€56,402	€33,650	▼ 40.3%
Financial fixed assets28	€500	-	-	€5,790	€5,790	€5,790	=
Current assets29/58	€167,666	€153,225	€223,798	€154,409	€352,730	€352,989	▲ 0.1%
Amounts receivable within one year40/41	€161,876	€147,079	€223,395	€128,602	€254,503	€295,324	▲ 16.0%
Trade receivables40	-	-	-	€38,411	€156,740	€191,098	▲ 21.9%
Other amounts receivable41	-	-	-	€90,191	€97,763	€104,226	▲ 6.6%
Cash at bank and in hand54/58	€5,491	€5,311	€402	€25,313	€97,689	€54,590	▼ 44.1%
Deferred charges and accrued income490/1	-	-	-	€494	€538	€3,075	▲ 471%
Equity and liabilities
Total equity and liabilities10/49	€171,977	€192,172	€254,539	€214,856	€419,121	€399,308	▼ 4.7%
Equity10/15	€111,443	€126,105	€69,764	€85,847	€173,802	€189,001	▲ 8.7%
Contributions10/11	€12,400	€12,400	-	€12,400	€12,400	€12,400	=
Reserves13	€1,860	€1,860	€1,860	€17,860	€47,860	€47,860	=
Non-distributable reserves130/1	-	-	-	€1,860	€1,860	-	-
Reserves not available under the articles1311	-	-	-	€1,860	€1,860	-	-
Distributable reserves133	-	-	-	€16,000	€46,000	€47,860	▲ 4.0%
Profit (loss) carried forward14	€97,183	€111,845	€55,504	€55,587	€113,542	€128,741	▲ 13.4%
Amounts payable17/49	€60,534	€66,067	€184,775	€129,008	€245,319	€210,307	▼ 14.3%
Amounts payable after more than one year17	-	€30,442	€21,918	€38,918	€39,454	€21,654	▼ 45.1%
Financial debts170/4	-	-	-	€38,918	€39,454	€21,654	▼ 45.1%
Amounts payable within one year42/48	€60,534	€35,625	€162,857	€90,090	€205,866	€188,654	▼ 8.4%
Current portion of amounts payable after more than one year42	-	-	-	€17,463	€21,910	€17,793	▼ 18.8%
Financial debts43	-	-	-	-	€34	-	-
Credit institutions430/8	-	-	-	-	€34	-	-
Trade debts44	€55,237	€11,537	€58,373	€26,768	€122,056	€105,876	▼ 13.3%
Suppliers440/4	-	-	-	€26,768	€122,056	€105,876	▼ 13.3%
Taxes, remuneration and social security45	-	-	-	€45,859	€61,865	€64,985	▲ 5.0%
Taxes450/3	-	-	-	€39,263	€51,810	€64,501	▲ 24.5%
Remuneration and social security454/9	-	-	-	€6,596	€10,055	€484	▼ 95.2%

Line	2018	2019	2020	2021	2022	2023	Change
Profit (loss) for the period9904	-€5,652	€14,662	€15,659	€16,083	€87,954	€15,200	▼ 82.7%
+ Depreciation and write-downs630	€3,948	€12,352	€10,125	€18,093	€21,901	€24,654	▲ 12.6%
Operating cash flow (approximation)	-€1,705	€27,014	€25,784	€34,176	€109,855	€39,854	▼ 63.7%
Investment in fixed assets (approximation)	-	-€46,988	-€1,919	-€47,798	-€27,845	-€4,583	▲ 83.5%
Change in cash	-	-€180	-€4,908	€24,910	€72,377	-€43,100	-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 11 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2023	micro format	28-08-2024	2024-00383592	PDF
31-12-2022	micro format	31-08-2023	2023-00440564	PDF
31-12-2021	micro format	31-08-2022	2022-20419494	PDF
31-12-2020	micro format	31-08-2021	2021-66400187	PDF
31-12-2019	micro format	09-11-2020	2020-70700079	PDF
31-12-2018	abbreviated format	30-08-2019	2019-62900234	PDF
31-12-2017	abbreviated format	31-08-2018	2018-62000079	PDF
31-12-2016	abbreviated format	25-09-2017	2017-62700332	PDF
31-12-2015	abbreviated format	03-10-2016	2016-64800169	PDF
31-12-2014	abbreviated format	31-08-2015	2015-56700088	PDF

Show all 11 filings