ZZ CONSTRUCT
Open bankruptcyFinancials · financial year 2022, micro format
2022 annual accounts filed 54 days after the deadline Filed on 23 September 2023, deadline 31 July 2023 (7 months after the close on 31 December 2022, Companies Code art. 3:10). Source: NBB, 2023-00456050.
Annual accounts 2022 filed on 23-09-2023 PDF all 3 filings
Turnover
€253,061▲ 79.4%
2021 · €141,031
EBIT margin
13.7%▲ 1.2pp
2021 · 12.6%
Net result
€22,035▲ 51.5%
2021 · €14,542
Working capital
€47,125▲ 54.3%
2021 · €30,545
Multi-year overview
2020 to 2022, 3 financial yearsTurnover
€253,061
▲ 79.4%
2022
20202022
Operating result
€34,786
▲ 96.1%
2022
20202022
Net result
€22,035
▲ 51.5%
2022
middle half of the sector
20202022
EBIT margin
13.7%
▲ 1.2pp
2022
20202022
Equity
€52,581
▲ 72.1%
2022
middle half of the sector
20202022
Total assets
€108,591
▲ 86.1%
2022
middle half of the sector
20202022
Debt
€56,010
▲ 101%
2022
20202022
Working capital
€47,125
▲ 54.3%
2022
middle half of the sector
20202022
Solvency
48.4%
▼ 3.9pp
2022
middle half of the sector
20202022
Current ratio
1.84
▼ 0.26
2022
middle half of the sector
20202022
Return on assets (ROA)
20.3%
▼ 4.6pp
2022
highest quarter of the sector
20202022
Staff (FTE)
1
▲ 66.7%
2022
20202022
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022
Turnover€96,863-€141,031▲ 45.6%€253,061▲ 79.4%
Operating result€31,003-€17,743▼ 42.8%€34,786▲ 96.1%
Net result€31,003above the sector's middle half-€14,542within the sector's middle half▼ 53.1%€22,035within the sector's middle half▲ 51.5%
EBIT margin32.0%-12.6%▼ 19.4pp13.7%▲ 1.2pp
Equity€16,003within the sector's middle half-€30,545within the sector's middle half▲ 90.9%€52,581within the sector's middle half▲ 72.1%
Total assets€31,190below the sector's middle half-€58,352below the sector's middle half▲ 87.1%€108,591within the sector's middle half▲ 86.1%
Debt€15,187-€27,807▲ 83.1%€56,010▲ 101%
Working capital€16,003within the sector's middle half-€30,545within the sector's middle half▲ 90.9%€47,125within the sector's middle half▲ 54.3%
Solvency51.3%within the sector's middle half-52.3%within the sector's middle half▲ 1.0pp48.4%within the sector's middle half▼ 3.9pp
Current ratio2.05within the sector's middle half-2.10within the sector's middle half▲ 0.041.84within the sector's middle half▼ 0.26
Return on assets (ROA)99.4%above the sector's middle half-24.9%above the sector's middle half▼ 74.5pp20.3%above the sector's middle half▼ 4.6pp
Staff (FTE)0.61▲ 66.7%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 96% higher than in 2021 and the highest since 2020. It is a recovery after the fall in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €108,591
Fixed assets
€5,456
Current assets
€103,135
Equity and liabilities €108,591
Equity
€52,581 ▲ 72.1%
Debt
€56,010 ▲ 101%
Debt's share of the balance-sheet total rises from 47.7% to 51.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35,830
Cash flow
€23,079
Debt to equity
1.07▲
2021 · 0.91
ROE
41.9%▼
2021 · 47.6%
Interest coverage
21.20
Debt ≤ 1 year
€56,010▲
2021 · €27,807
Income taxes
€11,061▲
2021 · €3,201
Customer credit
22 days▲
2021 · 21 days
Supplier credit
33 days▲
2021 · 3 days
Staff costs
€33,791▲
2021 · €21,531
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| part-time | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 |
| Average over the year, in full-time equivalents | 0.6 | 0.8 |
| On a permanent contract | 1 | 1 |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 |
|---|---|---|
| Tangible fixed assets | - | €6,500 |
| Depreciation and write-downs of the year | - | €1,044 |
Source: notes to the 2021 to 2022 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Turnover70 | €96,863 | €141,031 | €253,061 | ▲ 79.4% |
| Goods, raw materials, services and sundry goods60/61 | - | €101,412 | €183,127 | ▲ 80.6% |
| Remuneration, social security and pensions62 | - | €21,531 | €33,791 | ▲ 56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,044 | - |
| Other operating charges640/8 | - | €347 | €313 | ▼ 9.8% |
| Gross operating margin9900 | €31,003 | €39,621 | €69,934 | ▲ 76.5% |
| Operating profit (loss)9901 | €31,003 | €17,743 | €34,786 | ▲ 96.1% |
| Financial charges65/66B | - | - | €1,690 | - |
| Recurring financial charges65 | - | - | €1,690 | - |
| Profit (loss) for the period before taxes9903 | €31,003 | €17,743 | €33,096 | ▲ 86.5% |
| Income taxes67/77 | - | €3,201 | €11,061 | ▲ 246% |
| Profit (loss) for the period9904 | €31,003 | €14,542 | €22,035 | ▲ 51.5% |
| Profit (loss) for the period to be appropriated9905 | €31,003 | €14,542 | €22,035 | ▲ 51.5% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €31,190 | €58,352 | €108,591 | ▲ 86.1% |
| Fixed assets21/28 | - | - | €5,456 | - |
| Tangible fixed assets22/27 | - | - | €5,456 | - |
| Furniture and vehicles24 | - | - | €5,456 | - |
| Current assets29/58 | €31,190 | €58,352 | €103,135 | ▲ 76.7% |
| Amounts receivable within one year40/41 | €1,822 | €7,987 | €36,029 | ▲ 351% |
| Trade receivables40 | - | - | €14,976 | - |
| Other amounts receivable41 | - | €7,987 | €21,053 | ▲ 164% |
| Cash at bank and in hand54/58 | €29,368 | €50,365 | €67,106 | ▲ 33.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €31,190 | €58,352 | €108,591 | ▲ 86.1% |
| Equity10/15 | €16,003 | €30,545 | €52,581 | ▲ 72.1% |
| Profit (loss) carried forward14 | €16,003 | €30,545 | €52,581 | ▲ 72.1% |
| Amounts payable17/49 | €15,187 | €27,807 | €56,010 | ▲ 101% |
| Amounts payable within one year42/48 | €15,187 | €27,807 | €56,010 | ▲ 101% |
| Trade debts44 | €147 | €771 | €16,703 | ▲ 22× |
| Suppliers440/4 | - | €771 | €16,703 | ▲ 22× |
| Taxes, remuneration and social security45 | - | €12,486 | €24,307 | ▲ 94.7% |
| Taxes450/3 | - | - | €7,513 | - |
| Remuneration and social security454/9 | - | €12,486 | €16,794 | ▲ 34.5% |
| Other amounts payable47/48 | - | €14,550 | €15,000 | ▲ 3.1% |
| Line | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,003 | €14,542 | €22,035 | ▲ 51.5% |
| + Depreciation and write-downs630 | - | - | €1,044 | - |
| Operating cash flow (approximation) | €31,003 | €14,542 | €23,079 | ▲ 58.7% |
| Change in cash | - | €20,997 | €16,741 | ▼ 20.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.