Tim VOETS
Open bankruptcyFinancials · financial year 2023, abbreviated format
2023 annual accounts filed late (29 days) Filed on 29 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00433057.
Equity
€103,496▲ 170%
2022 · €38,391
Total assets
€506,636▲ 45.4%
2022 · €348,389
Net result
€65,105
2022 · -€12,620
Working capital
€64,353▲ 788%
2022 · €7,248
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result returns to profit in 2023: €106,536 after a loss of €8,177 in 2022, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€106,536
2023
Net result€65,105
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€506,636
2023
Equity€103,496
2023
Debt€403,140
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€64,353
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)12.9%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency20.4%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.18
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€27,029-€13,954▼ 48.4%€3,882▼ 72.2%€19,060▲ 391%-€8,177€106,536
Net result€17,333-€10,353▼ 40.3%€746within the sector's middle half▼ 92.8%€15,467within the sector's middle half▲ 21×-€12,620below the sector's middle half€65,105within the sector's middle half
Equity€32,822-€43,175▲ 31.5%€43,921within the sector's middle half▲ 1.7%€59,388within the sector's middle half▲ 35.2%€38,391below the sector's middle half▼ 35.4%€103,496below the sector's middle half▲ 170%
Total assets€143,890-€148,624▲ 3.3%€171,719within the sector's middle half▲ 15.5%€166,762within the sector's middle half▼ 2.9%€348,389below the sector's middle half▲ 109%€506,636within the sector's middle half▲ 45.4%
Debt€111,068-€105,449▼ 5.1%€127,798▲ 21.2%€107,374▼ 16.0%€309,998▲ 189%€403,140▲ 30.0%
Working capital-€9,274-€3,014€6,255within the sector's middle half▲ 108%€19,821within the sector's middle half▲ 217%€7,248below the sector's middle half▼ 63.4%€64,353within the sector's middle half▲ 788%
Solvency22.8%-29.0%▲ 6.2pp25.6%within the sector's middle half▼ 3.5pp35.6%within the sector's middle half▲ 10.0pp11.0%below the sector's middle half▼ 24.6pp20.4%below the sector's middle half▲ 9.4pp
Current ratio0.89-1.04▲ 0.151.06below the sector's middle half▲ 0.021.20within the sector's middle half▲ 0.141.03below the sector's middle half▼ 0.171.18within the sector's middle half▲ 0.15
Return on assets (ROA)12.0%-7.0%▼ 5.1pp0.4%below the sector's middle half▼ 6.5pp9.3%within the sector's middle half▲ 8.8pp-3.6%below the sector's middle half▼ 12.9pp12.9%within the sector's middle half▲ 16.5pp
Staff (FTE)0below the sector's middle half
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €506,636
Fixed assets
€82,602 ▼ 15.3%
Current assets
€424,034 ▲ 69.0%
Equity and liabilities €506,636
Equity
€103,496 ▲ 170%
Debt
€403,140 ▲ 30.0%
Debt's share of the balance-sheet total falls from 89.0% to 79.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€129,964▲
2022 · €9,713
Cash flow
€88,533▲
2022 · €5,270
Quick ratio
0.94▲
2022 · 0.85
Debt to equity
3.90▼
2022 · 8.07
ROE
62.9%▲
2022 · -32.9%
Interest coverage
16.87▲
2022 · 1.40
Debt ≤ 1 year
€359,681▲
2022 · €243,660
Debt > 1 year
€43,459▼
2022 · €66,339
Income taxes
€36,745▲
2022 · €204
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 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,555 | €16,514 | €14,926 | €14,353 | €17,889 | €23,428 | ▲ 31.0% |
| Other operating charges640/8 | - | - | - | €1,815 | €5,793 | €4,649 | ▼ 19.8% |
| Non-recurring operating charges66A | - | - | - | - | €7,361 | - | - |
| Gross operating margin9900 | €51,058 | €32,144 | €22,592 | €35,228 | €22,867 | €134,613 | ▲ 489% |
| Operating profit (loss)9901 | €27,029 | €13,954 | €3,882 | €19,060 | -€8,177 | €106,536 | - |
| Financial income75/76B | - | - | - | €12,008 | €2,677 | €3,017 | ▲ 12.7% |
| Recurring financial income75 | €220 | €10,200 | €416 | €12,008 | €2,677 | €3,017 | ▲ 12.7% |
| Non-recurring financial income76B | - | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €2,886 | €6,916 | €7,703 | ▲ 11.4% |
| Recurring financial charges65 | €2,901 | €5,597 | €2,343 | €2,886 | €6,916 | €7,703 | ▲ 11.4% |
| Profit (loss) for the period before taxes9903 | €24,348 | €16,177 | €1,955 | €28,182 | -€12,416 | €101,850 | - |
| Income taxes67/77 | €7,015 | €5,824 | €1,209 | €12,715 | €204 | €36,745 | ▲ 180× |
| Profit (loss) for the period9904 | €17,333 | €10,353 | €746 | €15,467 | -€12,620 | €65,105 | - |
| Profit (loss) for the period to be appropriated9905 | €17,333 | €10,353 | €746 | €15,467 | -€12,620 | €65,105 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €143,890 | €148,624 | €171,719 | €166,762 | €348,389 | €506,636 | ▲ 45.4% |
| Fixed assets21/28 | €66,425 | €75,987 | €62,121 | €47,768 | €97,481 | €82,602 | ▼ 15.3% |
| Tangible fixed assets22/27 | €66,304 | €65,866 | €52,000 | €37,647 | €87,481 | €67,802 | ▼ 22.5% |
| Land and buildings22 | - | - | - | €13,248 | €10,994 | €9,044 | ▼ 17.7% |
| Plant, machinery and equipment23 | - | - | - | €10,495 | €24,803 | €22,229 | ▼ 10.4% |
| Furniture and vehicles24 | - | - | - | €13,904 | €51,684 | €36,529 | ▼ 29.3% |
| Financial fixed assets28 | €121 | €10,121 | €10,121 | €10,121 | €10,000 | €14,800 | ▲ 48.0% |
| Current assets29/58 | €77,465 | €72,637 | €109,598 | €118,994 | €250,908 | €424,034 | ▲ 69.0% |
| Amounts receivable after more than one year29 | - | - | - | €47,765 | €91,260 | €184,973 | ▲ 103% |
| Other amounts receivable291 | - | - | - | €47,765 | €91,260 | €184,973 | ▲ 103% |
| Stocks and contracts in progress3 | - | - | - | €5,030 | €44,051 | €84,261 | ▲ 91.3% |
| Stocks30/36 | - | - | - | €2,430 | €3,424 | €43,634 | ▲ 13× |
| Contracts in progress37 | - | - | - | €2,600 | €40,627 | €40,627 | = |
| Amounts receivable within one year40/41 | €64,090 | €40,794 | €54,468 | €60,869 | €107,523 | €128,986 | ▲ 20.0% |
| Trade receivables40 | - | - | - | €57,857 | €96,554 | €115,030 | ▲ 19.1% |
| Other amounts receivable41 | - | - | - | €3,012 | €10,970 | €13,956 | ▲ 27.2% |
| Current investments50/53 | - | - | - | - | - | €40 | - |
| Cash at bank and in hand54/58 | €10,145 | €27,637 | €19,756 | €337 | €240 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €4,993 | €7,833 | €25,774 | ▲ 229% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €143,890 | €148,624 | €171,719 | €166,762 | €348,389 | €506,636 | ▲ 45.4% |
| Equity10/15 | €32,822 | €43,175 | €43,921 | €59,388 | €38,391 | €103,496 | ▲ 170% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €14,222 | €24,575 | €25,321 | €40,788 | €32,411 | €84,896 | ▲ 162% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | €38,928 | €30,551 | €84,896 | ▲ 178% |
| Profit (loss) carried forward14 | - | - | - | - | -€12,620 | - | - |
| Amounts payable17/49 | €111,068 | €105,449 | €127,798 | €107,374 | €309,998 | €403,140 | ▲ 30.0% |
| Amounts payable after more than one year17 | €24,329 | €35,826 | €24,455 | €8,201 | €66,339 | €43,459 | ▼ 34.5% |
| Financial debts170/4 | - | - | - | €8,201 | €66,339 | €43,459 | ▼ 34.5% |
| Amounts payable within one year42/48 | €86,739 | €69,623 | €103,343 | €99,173 | €243,660 | €359,681 | ▲ 47.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €27,776 | €30,213 | €32,046 | ▲ 6.1% |
| Financial debts43 | - | - | - | €7,475 | €28,978 | €36,595 | ▲ 26.3% |
| Credit institutions430/8 | - | - | - | €7,475 | €28,978 | €36,595 | ▲ 26.3% |
| Trade debts44 | €56,356 | €30,364 | €62,642 | €37,628 | €164,560 | €225,063 | ▲ 36.8% |
| Suppliers440/4 | - | - | - | €37,628 | €164,560 | €225,063 | ▲ 36.8% |
| Taxes, remuneration and social security45 | - | - | - | €26,294 | €11,532 | €65,977 | ▲ 472% |
| Taxes450/3 | - | - | - | €21,242 | €11,532 | €65,977 | ▲ 472% |
| Remuneration and social security454/9 | - | - | - | €5,052 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | €8,377 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,333 | €10,353 | €746 | €15,467 | -€12,620 | €65,105 | - |
| + Depreciation and write-downs630 | €21,555 | €16,514 | €14,926 | €14,353 | €17,889 | €23,428 | ▲ 31.0% |
| Operating cash flow (approximation) | €38,888 | €26,867 | €15,672 | €29,820 | €5,270 | €88,533 | ▲ 17× |
| Investment in fixed assets (approximation) | - | -€26,076 | -€1,060 | €0 | -€67,603 | -€8,549 | ▲ 87.4% |
| Change in cash | - | €17,492 | -€7,881 | -€19,419 | -€97 | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | abbreviated format | 29-08-2024 | 2024-00433057 |
| 31-12-2022 | abbreviated format | 29-09-2023 | 2023-00458857 |
| 31-12-2021 | micro format | 18-08-2022 | 2022-20294322 |
| 31-12-2020 | micro format | 07-12-2021 | 2021-79600409 |
| 31-12-2019 | micro format | 19-11-2020 | 2020-71500341 |
| 31-12-2018 | micro format | 05-07-2019 | 2019-30100315 |
| 31-12-2017 | micro format | 28-09-2018 | 2018-67900285 |
| 31-12-2016 | micro format | 14-09-2017 | 2017-60900393 |
| 31-12-2015 | abbreviated format | 07-09-2016 | 2016-59600353 |
| 31-12-2014 | abbreviated format | 01-06-2015 | 2015-15100456 |
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Of the 8,345 active companies whose main activity is site preparation (NACE 43120), figures are known for 3,300. 2,705 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2024 · 1 entry · €4,410 awarded · €4,410 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.