SIRO CONSTRUCT
InactiveInactive; last annual accounts for fiscal year 2022.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
30-09-2023 close30-04-2024 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2022 was due by 30-04-2023 and was filed on 21-04-2023, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
9 d early
2021
10 d early
2020
11 d early
2019
8 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 10 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?H2O Invest · 12 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, abbreviated schema
Equity
€125,081▼ 44.4%
2021 · €224,945
Total assets
€615,652▲ 17.0%
2021 · €526,198
Net result
-€99,864▼ 101%
2021 · -€49,636
Working capital
-€34,708
2021 · €15,383
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result€39,921-€10,600▼ 73.4%€21,592▲ 104%-€45,748-€95,894▼ 110%
Net result€39,900-€10,576▼ 73.5%€21,108▲ 99.6%-€49,636-€99,864▼ 101%
Equity€42,896-€53,472▲ 24.7%€74,581▲ 39.5%€224,945▲ 202%€125,081▼ 44.4%
Total assets€48,360-€55,157▲ 14.1%€75,005▲ 36.0%€526,198▲ 602%€615,652▲ 17.0%
Debt€5,463-€1,685▼ 69.2%€424▼ 74.8%€301,253▲ 70,957%€490,572▲ 62.8%
Working capital€43,046-€53,472▲ 24.2%€74,581▲ 39.5%€15,383▼ 79.4%-€34,708
Staff (FTE)9.66.9▼ 28.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €95,894 in 2022 against €45,748 in 2021; the loss grows and 2022 has the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €615,652
Fixed assets
€159,829 ▼ 23.7%
Current assets
€455,823 ▲ 44.0%
Equity and liabilities €615,652
Equity
€125,081 ▼ 44.4%
Debt
€490,572 ▲ 62.8%
Debt's share of the balance-sheet total rises from 57.3% to 79.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€43,520▼
2021 · -€20,090
Cash flow
-€47,490▼
2021 · -€23,978
Current ratio
0.93▼
2021 · 1.05
Quick ratio
0.69▼
2021 · 0.91
Debt to equity
3.92▲
2021 · 1.34
ROE
-79.8%▼
2021 · -22.1%
ROA
-16.2%▼
2021 · -9.4%
Interest coverage
-3.85▲
2021 · -5.27
Debt ≤ 1 year
€490,531▲
2021 · €301,253
Income taxes
€162▲
2021 · €73
Staff costs
€352,432▲
2021 · €179,683
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €179,683 | €352,432 | ▲ 96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68 | €0 | - | €25,658 | €52,374 | ▲ 104% |
| Other operating charges640/8 | - | - | - | €6,557 | €8,898 | ▲ 35.7% |
| Gross operating margin9900 | €40,432 | €11,295 | €21,692 | €166,150 | €317,810 | ▲ 91.3% |
| Operating profit (loss)9901 | €39,921 | €10,600 | €21,592 | -€45,748 | -€95,894 | ▼ 110% |
| Financial income75/76B | - | - | - | - | €7,500 | - |
| Recurring financial income75 | - | - | - | - | €0 | - |
| Non-recurring financial income76B | - | - | - | - | €7,500 | - |
| Financial charges65/66B | - | - | - | €3,815 | €11,308 | ▲ 196% |
| Recurring financial charges65 | €21 | €24 | €60 | €3,815 | €11,308 | ▲ 196% |
| Profit (loss) for the period before taxes9903 | €39,900 | €10,576 | €21,532 | -€49,563 | -€99,702 | ▼ 101% |
| Income taxes67/77 | - | - | €424 | €73 | €162 | ▲ 121% |
| Profit (loss) for the period9904 | €39,900 | €10,576 | €21,108 | -€49,636 | -€99,864 | ▼ 101% |
| Profit (loss) for the period to be appropriated9905 | €39,900 | €10,576 | €21,108 | -€49,636 | -€99,864 | ▼ 101% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €48,360 | €55,157 | €75,005 | €526,198 | €615,652 | ▲ 17.0% |
| Fixed assets21/28 | - | - | - | €209,562 | €159,829 | ▼ 23.7% |
| Intangible fixed assets21 | - | - | - | €188,009 | €147,521 | ▼ 21.5% |
| Tangible fixed assets22/27 | - | - | - | €21,553 | €12,307 | ▼ 42.9% |
| Plant, machinery and equipment23 | - | - | - | €7,896 | €5,594 | ▼ 29.2% |
| Furniture and vehicles24 | - | - | - | €13,657 | €6,714 | ▼ 50.8% |
| Current assets29/58 | €48,360 | €55,157 | €75,005 | €316,636 | €455,823 | ▲ 44.0% |
| Stocks and contracts in progress3 | - | - | - | €43,849 | €117,991 | ▲ 169% |
| Stocks30/36 | - | - | - | €43,849 | €42,270 | ▼ 3.6% |
| Contracts in progress37 | - | - | - | - | €75,721 | - |
| Amounts receivable within one year40/41 | €11,892 | €6,446 | €0 | €247,466 | €253,913 | ▲ 2.6% |
| Trade receivables40 | - | - | - | €223,671 | €249,234 | ▲ 11.4% |
| Other amounts receivable41 | - | - | - | €23,795 | €4,680 | ▼ 80.3% |
| Cash at bank and in hand54/58 | €36,467 | €48,711 | €75,005 | €24,627 | €82,153 | ▲ 234% |
| Deferred charges and accrued income490/1 | - | - | - | €694 | €1,767 | ▲ 155% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €48,360 | €55,157 | €75,005 | €526,198 | €615,652 | ▲ 17.0% |
| Equity10/15 | €42,896 | €53,472 | €74,581 | €224,945 | €125,081 | ▼ 44.4% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €261,500 | €261,500 | = |
| Capital10 | - | - | - | €261,500 | €261,500 | = |
| Issued capital100 | - | - | - | €261,500 | €261,500 | = |
| Reserves13 | €12,532 | €12,532 | €12,532 | €12,532 | €12,532 | = |
| Non-distributable reserves130/1 | - | - | - | €3,660 | €3,660 | = |
| Legal reserve130 | - | - | - | €3,660 | €3,660 | = |
| Distributable reserves133 | - | - | - | €8,872 | €8,872 | = |
| Profit (loss) carried forward14 | -€31,136 | -€20,560 | €548 | -€49,088 | -€148,952 | ▼ 203% |
| Amounts payable17/49 | €5,463 | €1,685 | €424 | €301,253 | €490,572 | ▲ 62.8% |
| Amounts payable within one year42/48 | €5,313 | €1,685 | €424 | €301,253 | €490,531 | ▲ 62.8% |
| Financial debts43 | - | - | - | - | €10,515 | - |
| Credit institutions430/8 | - | - | - | - | €10,515 | - |
| Trade debts44 | €5,313 | €700 | €0 | €114,718 | €275,983 | ▲ 141% |
| Suppliers440/4 | - | - | - | €114,718 | €275,983 | ▲ 141% |
| Taxes, remuneration and social security45 | - | - | - | €36,536 | €54,032 | ▲ 47.9% |
| Taxes450/3 | - | - | - | €1,326 | €3,260 | ▲ 146% |
| Remuneration and social security454/9 | - | - | - | €35,210 | €50,772 | ▲ 44.2% |
| Other amounts payable47/48 | - | - | - | €150,000 | €150,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €41 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,900 | €10,576 | €21,108 | -€49,636 | -€99,864 | ▼ 101% |
| + Depreciation and write-downs630 | €68 | €0 | - | €25,658 | €52,374 | ▲ 104% |
| Operating cash flow (approximation) | €39,967 | €10,576 | €21,108 | -€23,978 | -€47,490 | ▼ 98.1% |
| Investment in fixed assets (approximation) | - | - | - | - | -€2,640 | - |
| Change in cash | - | €12,244 | €26,294 | -€50,378 | €57,526 | ▲ 214% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2023
21-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Weakest financial yearnet -€99,864
Net result drops to -€99,864, the lowest in the series.
20-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €200,000Eq €224,945 ▲202%
Equity rises from €74,581 to €224,945.
19-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Liquidity times 5current ratio 176.91
Current ratio from 32.73 to 176.91; short-term debt falls from €1,685 to €424.
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Liquidity quadruplescurrent ratio 32.73
Current ratio from 9.10 to 32.73; short-term debt falls from €5,313 to €1,685.
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
08-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
14-04
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2014
18-04
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Structure & network
Part of the group
H2O Invest
12 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- H2O Invest
- STERHOEK
- PYLONEN DE KERF
- SIRO CONSTRUCT
Highest known parent: H2O Invest. The sources do not say who stands above it.
Owners 1
- PYLONEN DE KERFparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 1,990 EUR awarded · 1,799 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 191 EUR | 0 EUR |
| 2022 | 1 | 1,799 EUR | 1,799 EUR |