Baro Projects
ActiveSummary
Baro Projects has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €177.4m and a net result of €34,575. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 83% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▼-6
Solvency100▲+12
Growth68▲+27
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190,000 at 30 days acceptable
Liquidity ample (current ratio 6.95 against 5.46 in 2024; short-term debt: 3.6% and cash: 0.2% of total assets), and 10.8% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
89.2%
Return on assets
0%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €177.4m
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
61 d late
2023
68 d late
2022
70 d late
2021
31 d late
2020
31 d late
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 37 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?Baro Projects · 14 companies How does this company compare with its sector?Sector benchmark
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Financials · fiscal year 2025, full schema
Turnover
€2.0m▲ 342%
2020 · €447,980
EBIT margin
-37.9%▼ 82.3pp
2020 · 44.4%
Net result
€34,575▼ 32.1%
2024 · €50,885
Working capital
€42.8m▲ 67.4%
2024 · €25.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€2.0m
Operating result€275,439▲ 38.4%-€314,051-€540,006▼ 71.9%-€1.0m▼ 88.0%-€749,379▲ 26.2%
Net result€307,445above the sector's middle half▲ 233%-€289,666below the sector's middle half€62,976within the sector's middle half€50,885within the sector's middle half▼ 19.2%€34,575within the sector's middle half▼ 32.1%
EBIT margin-37.9%
Equity€1.1mwithin the sector's middle half▲ 38.6%€809,788within the sector's middle half▼ 26.4%€30.9mabove the sector's middle half▲ 3,712%€30.9mabove the sector's middle half▲ 0.2%€177.4mabove the sector's middle half▲ 474%
Total assets€8.2mabove the sector's middle half▲ 69.6%€20.9mabove the sector's middle half▲ 156%€50.8mabove the sector's middle half▲ 143%€49.2mabove the sector's middle half▼ 3.2%€198.8mabove the sector's middle half▲ 304%
Debt€7.1m▲ 75.8%€20.1m▲ 184%€19.9m▼ 0.8%€18.3m▼ 8.3%€21.4m▲ 17.2%
Working capital-€529,339▲ 76.3%€11.8m€25.6m▲ 117%€25.6m▼ 0.2%€42.8m▲ 67.4%
Solvency13.5%below the sector's middle half▼ 3.0pp3.9%below the sector's middle half▼ 9.6pp60.8%within the sector's middle half▲ 56.9pp62.9%within the sector's middle half▲ 2.1pp89.2%above the sector's middle half▲ 26.4pp
Staff (FTE)1within the sector's middle half=2.3within the sector's middle half▲ 130%2within the sector's middle half▼ 13.0%1.6within the sector's middle half▼ 20.0%1.6within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €749,379 in 2025 against €1.0m in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €198.8m
Fixed assets
€148.8m ▲ 732%
Current assets
€50.0m ▲ 59.7%
Equity and liabilities €198.8m
Equity
€177.4m ▲ 474%
Debt
€21.4m ▲ 17.2%
Debt's share of the balance-sheet total falls from 37.1% to 10.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€606,568▲
2024 · -€852,166
Cash flow
€177,386▼
2024 · €213,943
Current ratio
6.95▲
2024 · 5.46
Quick ratio
6.87▲
2024 · 5.40
Debt to equity
0.12▼
2024 · 0.59
ROE
0.0%▼
2024 · 0.2%
ROA
0.0%▼
2024 · 0.1%
Interest coverage
-4.50▼
2024 · -3.75
Debt ≤ 1 year
€7.2m▲
2024 · €5.7m
Debt > 1 year
€14.2m▲
2024 · €12.5m
Income taxes
€19,112▲
2024 · €160
Staff costs
€134,873▼
2024 · €135,195
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €2.0m | - |
| Turnover70 | - | - | - | - | €2.0m | - |
| Other operating income74 | - | - | - | - | €32,833 | - |
| Non-recurring operating income76A | - | - | €226,639 | €0 | - | - |
| Operating charges60/66A | - | - | - | - | €2.8m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €2.3m | - |
| Purchases600/8 | - | - | - | - | €2.6m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€308,782 | - |
| Services and other goods61 | - | - | - | - | €208,030 | - |
| Remuneration, social security and pensions62 | €52,653 | €177,203 | €155,641 | €135,195 | €134,873 | ▼ 0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €136,714 | €64,843 | €144,789 | €163,058 | €142,811 | ▼ 12.4% |
| Other operating charges640/8 | €10,018 | €11,921 | €14,594 | €12,661 | €7,367 | ▼ 41.8% |
| Gross operating margin9900 | €474,824 | -€60,084 | -€224,983 | -€704,310 | - | - |
| Operating profit (loss)9901 | €275,439 | -€314,051 | -€540,006 | -€1.0m | -€749,379 | ▲ 26.2% |
| Financial income75/76B | €185,197 | €72,107 | €737,439 | €1.3m | €962,129 | ▼ 25.6% |
| Recurring financial income75 | €2,569 | €72,107 | €737,439 | €1.3m | €962,129 | ▼ 25.6% |
| Income from current assets751 | - | - | - | - | €951,887 | - |
| Other financial income752/9 | - | - | - | - | €10,242 | - |
| Non-recurring financial income76B | €182,628 | €0 | - | - | - | - |
| Financial charges65/66B | €38,565 | €46,950 | €129,805 | €227,188 | €159,062 | ▼ 30.0% |
| Recurring financial charges65 | €38,565 | €46,950 | €129,805 | €227,188 | €159,062 | ▼ 30.0% |
| Debt charges650 | - | - | - | - | €134,711 | - |
| Other financial charges652/9 | - | - | - | - | €24,351 | - |
| Profit (loss) for the period before taxes9903 | €422,070 | -€288,894 | €67,628 | €51,045 | €53,687 | ▲ 5.2% |
| Income taxes67/77 | €114,625 | €772 | €4,652 | €160 | €19,112 | ▲ 11,845% |
| Taxes670/3 | - | - | - | - | €19,112 | - |
| Profit (loss) for the period9904 | €307,445 | -€289,666 | €62,976 | €50,885 | €34,575 | ▼ 32.1% |
| Profit (loss) for the period to be appropriated9905 | €307,445 | -€289,666 | €62,976 | €50,885 | €34,575 | ▼ 32.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.2m | €20.9m | €50.8m | €49.2m | €198.8m | ▲ 304% |
| Fixed assets21/28 | €7.5m | €8.0m | €18.0m | €17.9m | €148.8m | ▲ 732% |
| Tangible fixed assets22/27 | €3.9m | €3.5m | €3.2m | €3.1m | €3.0m | ▼ 4.3% |
| Land and buildings22 | €3.9m | €3.2m | €3.1m | €3.0m | €2.9m | ▼ 3.6% |
| Plant, machinery and equipment23 | €22,049 | €19,320 | €26,968 | €21,433 | €15,929 | ▼ 25.7% |
| Furniture and vehicles24 | €45,889 | €223,632 | €63,200 | €41,556 | €21,924 | ▼ 47.2% |
| Other tangible fixed assets26 | - | €5,541 | €5,541 | €5,541 | €5,541 | = |
| Financial fixed assets28 | €3.5m | €4.5m | €14.8m | €14.8m | €145.8m | ▲ 887% |
| Affiliated companies280/1 | - | - | - | - | €145.8m | - |
| Participating interests280 | - | - | - | - | €138.8m | - |
| Amounts receivable281 | - | - | - | - | €7.0m | - |
| Current assets29/58 | €714,593 | €12.9m | €32.8m | €31.3m | €50.0m | ▲ 59.7% |
| Amounts receivable after more than one year29 | - | - | €14.2m | €19.7m | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | €14.2m | €19.7m | €0 | ▼ 100% |
| Stocks and contracts in progress3 | €0 | €1.1m | €731,959 | €316,479 | €625,261 | ▲ 97.6% |
| Stocks30/36 | €0 | €1.1m | €731,959 | €316,479 | €625,261 | ▲ 97.6% |
| Property held for sale35 | - | - | - | - | €625,261 | - |
| Amounts receivable within one year40/41 | €561,336 | €11.6m | €14.9m | €9.8m | €32.2m | ▲ 228% |
| Trade receivables40 | €106,841 | €116,007 | €853,491 | €1.1m | €1.2m | ▲ 11.7% |
| Other amounts receivable41 | €454,495 | €11.5m | €14.1m | €8.7m | €31.0m | ▲ 256% |
| Current investments50/53 | - | - | €2.6m | €1.5m | €16.5m | ▲ 1,001% |
| Other investments51/53 | - | - | - | - | €16.5m | - |
| Cash at bank and in hand54/58 | €147,492 | €200,154 | €327,193 | €18,879 | €481,927 | ▲ 2,453% |
| Deferred charges and accrued income490/1 | €5,766 | €755 | €4,495 | €2,018 | €187,611 | ▲ 9,195% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.2m | €20.9m | €50.8m | €49.2m | €198.8m | ▲ 304% |
| Equity10/15 | €1.1m | €809,788 | €30.9m | €30.9m | €177.4m | ▲ 474% |
| Contributions10/11 | €18,550 | €18,550 | €30.0m | €30.0m | €100.0m | ▲ 233% |
| Revaluation surpluses12 | - | - | - | - | €76.4m | - |
| Reserves13 | €1.1m | €780,525 | €843,500 | €894,385 | €928,960 | ▲ 3.9% |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €0 | - | - | - |
| Distributable reserves133 | €1.1m | €778,670 | €843,500 | €894,385 | €928,960 | ▲ 3.9% |
| Investment grants15 | €11,779 | €10,713 | €9,780 | €8,847 | €7,914 | ▼ 10.5% |
| Amounts payable17/49 | €7.1m | €20.1m | €19.9m | €18.3m | €21.4m | ▲ 17.2% |
| Amounts payable after more than one year17 | €5.8m | €19.0m | €12.7m | €12.5m | €14.2m | ▲ 13.0% |
| Financial debts170/4 | €5.8m | €19.0m | €12.7m | €12.5m | €14.2m | ▲ 13.0% |
| Credit institutions173 | - | - | - | - | €1.7m | - |
| Other loans174 | - | - | - | - | €12.5m | - |
| Other amounts payable178/9 | - | - | €620 | €0 | - | - |
| Amounts payable within one year42/48 | €1.2m | €1.1m | €7.2m | €5.7m | €7.2m | ▲ 25.4% |
| Current portion of amounts payable after more than one year42 | €317,400 | €280,747 | €282,826 | €237,871 | €239,944 | ▲ 0.9% |
| Financial debts43 | - | - | - | - | €146,329 | - |
| Credit institutions430/8 | - | - | - | - | €146,329 | - |
| Trade debts44 | €20,976 | €216,121 | €230,430 | €349,707 | €258,376 | ▼ 26.1% |
| Suppliers440/4 | €20,976 | €216,121 | €230,430 | €349,707 | €258,376 | ▼ 26.1% |
| Taxes, remuneration and social security45 | €174,259 | €25,878 | €15,178 | €63,433 | €30,409 | ▼ 52.1% |
| Taxes450/3 | €163,965 | €10,842 | €1,343 | €51,396 | €18,641 | ▼ 63.7% |
| Remuneration and social security454/9 | €10,294 | €15,035 | €13,835 | €12,037 | €11,768 | ▼ 2.2% |
| Other amounts payable47/48 | €731,296 | €538,345 | €6.6m | €5.1m | €6.5m | ▲ 28.2% |
| Accrued charges and deferred income492/3 | €1,952 | €0 | - | €585 | €60,921 | ▲ 10,314% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €307,445 | -€289,666 | €62,976 | €50,885 | €34,575 | ▼ 32.1% |
| + Depreciation and write-downs630 | €136,714 | €64,843 | €144,789 | €163,058 | €142,811 | ▼ 12.4% |
| Operating cash flow (approximation) | €444,159 | -€224,824 | €207,764 | €213,943 | €177,386 | ▼ 17.1% |
| Investment in fixed assets (approximation) | - | -€635,206 | -€10.1m | -€45,696 | -€131.1m | ▼ 286,694% |
| Change in cash | - | €52,663 | €127,039 | -€308,314 | €463,048 | ▲ 250% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Equity above €100mEq €177.4m ▲474%
3 profitable years in a row build equity to €177.4m.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 68 days late
2023
31-12
Financial
Back to profitnet €62,976
Net result €62,976 after one loss-making year.
31-12
Financial
Equity above €25mEq €30.9m ▲3,712%
Equity rises from €809,788 to €30.9m.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 70 days late
2022
31-12
Financial
Weakest financial yearnet -€289,666
Net result drops to -€289,666, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 21current ratio 12.12
Current ratio from 0.57 to 12.12; short-term debt falls from €1.2m to €1.1m.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €307,445 ▲233%
Operating result €275,439, net result €307,445, both a record.
31-12
Financial
Equity above €1mEq €1.1m ▲38.6%
4 profitable years in a row build equity to €1.1m.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Assenede · 1 establishment unit since 2006
Ground area
2,166 m²
Building footprint
304 m²
Volume, LiDAR
2,780 m³
Parcel 43012C0326/00E000, Flanders · tallest building 13.7 m, ±3 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
BARO PROJECTS
since 20062.151.587.187
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43012C0326/00E000 | Flanders | 2,166 m² | 1 · 304 m² | 13.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Heads the group
Baro Projects
14 companies
Group, risk and exposure
Owners and holdings
15 holdings · 14 subsidiaries in the treeOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 15
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
-
100%
Show 5 more holdings
-
100%
-
100%
-
100%
-
49%
-
11.56%
All subsidiaries, including indirect ones 14
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- Amicimi 100%
- BARO Vastgoed 100%
- CENTURION 100%
- Château de Jemeppe 100%
- DURBUY Vastgoed 100%
- FEESTKWARTIER 100%
- IMMODEBA 100%
- Jemeppe Events & Horeca 100%
- KrosPoint 100%
- MarlobarCH 100%
- PLANET Business Center 100%
QWIEZINE 100%1 subsidiary
- 't Molenhuis 100%
- Sint-Amanduskapel 100%
According to the 2025 annual accounts of Baro Projects and those 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.
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Identification & contact
Identification
Legal formPrivate limited company
Founded04-01-2006
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
78100Employment placement agencies
78200Temporary employment agencies and other provision of personnel
Contact
Phone
0499/327378Assenede
E-invoicing
Reachable via Peppol
Peppol ID
0208:0878695185
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.