BE PROJETS
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 30 days after the deadline Filed on 30 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00458269.
Annual accounts 2025 filed on 30-08-2026 at the NBB all 6 filings
Turnover
≈ €130,000
Estimated: probably between €96,000 and €210,000
Total assets
€78,412▼ 33.2%
2024 · €117,414
Net result
€20,313▲ 216%
2024 · €6,419
Working capital
€23,514▲ 151%
2024 · €9,356
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€26,101
▲ 124%
2025
20202025
Net result
€20,313
▲ 216%
2025
middle half of the sector
20202025
Equity
€29,844
▲ 213%
2025
lowest quarter of the sector
20202025
Total assets
€78,412
▼ 33.2%
2025
lowest quarter of the sector
20202025
Debt
€48,568
▼ 55.0%
2025
20202025
Working capital
€23,514
▲ 151%
2025
middle half of the sector
20202025
Solvency
38.1%
▲ 29.9pp
2025
middle half of the sector
20202025
Current ratio
1.48
▲ 0.40
2025
middle half of the sector
20202025
Return on assets (ROA)
25.9%
▲ 20.4pp
2025
highest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€3,316-€2,030▼ 38.8%-€7,457€7,428€11,634▲ 56.6%€26,101▲ 124%
Net result€2,589within the sector's middle half-€1,524within the sector's middle half▼ 41.2%-€7,842below the sector's middle half€4,842within the sector's middle half€6,419within the sector's middle half▲ 32.6%€20,313within the sector's middle half▲ 216%
Equity€4,589below the sector's middle half-€6,112below the sector's middle half▲ 33.2%-€1,730below the sector's middle half€3,112below the sector's middle half€9,531below the sector's middle half▲ 206%€29,844below the sector's middle half▲ 213%
Total assets€10,885below the sector's middle half-€84,384within the sector's middle half▲ 675%€75,586within the sector's middle half▼ 10.4%€81,961within the sector's middle half▲ 8.4%€117,414within the sector's middle half▲ 43.3%€78,412below the sector's middle half▼ 33.2%
Debt€6,296-€78,272▲ 12×€77,316▼ 1.2%€78,849▲ 2.0%€107,883▲ 36.8%€48,568▼ 55.0%
Working capital€4,589below the sector's middle half-€5,937within the sector's middle half▲ 29.4%-€1,905below the sector's middle half€4,437within the sector's middle half€9,356within the sector's middle half▲ 111%€23,514within the sector's middle half▲ 151%
Solvency42.2%within the sector's middle half-7.2%below the sector's middle half▼ 34.9pp-2.3%below the sector's middle half▼ 9.5pp3.8%below the sector's middle half▲ 6.1pp8.1%below the sector's middle half▲ 4.3pp38.1%within the sector's middle half▲ 29.9pp
Current ratio1.73within the sector's middle half-1.08below the sector's middle half▼ 0.650.98below the sector's middle half▼ 0.101.06below the sector's middle half▲ 0.081.09below the sector's middle half▲ 0.031.48within the sector's middle half▲ 0.40
Return on assets (ROA)23.8%above the sector's middle half-1.8%within the sector's middle half▼ 22.0pp-10.4%below the sector's middle half▼ 12.2pp5.9%within the sector's middle half▲ 16.3pp5.5%within the sector's middle half▼ 0.4pp25.9%above the sector's middle half▲ 20.4pp
Staff (FTE)0.6
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 2025 is 124% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall 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
2025 in colour, 2024 as the grey bar beneath
Assets €78,412
Fixed assets
€6,330 ▲ 36×
Current assets
€72,082 ▼ 38.5%
Equity and liabilities €78,412
Equity
€29,844 ▲ 213%
Debt
€48,568 ▼ 55.0%
Debt's share of the balance-sheet total falls from 91.9% to 61.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€26,764
Cash flow
€20,976
Debt to equity
1.63▼
2024 · 11.32
ROE
68.1%▲
2024 · 67.4%
Interest coverage
16.07
Debt ≤ 1 year
€48,568▼
2024 · €107,883
Income taxes
€10,899▲
2024 · €400
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 1 |
| part-time | 1 |
| in full-time equivalents | 0.5 |
| Average over the year, in full-time equivalents | 0.5 |
| On a permanent contract | 1 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €6,818 |
| Financial fixed assets | €175 | - | - | - | - |
| Depreciation and write-downs of the year | - | - | - | - | €663 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1,258 | €168 | €246 | €255 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,218 | - | - | - | - | €663 | - |
| Other operating charges640/8 | - | €348 | €348 | €384 | €150 | €787 | ▲ 425% |
| Gross operating margin9900 | €4,881 | €3,636 | -€6,941 | €8,059 | €12,040 | €27,551 | ▲ 129% |
| Operating profit (loss)9901 | €3,316 | €2,030 | -€7,457 | €7,428 | €11,634 | €26,101 | ▲ 124% |
| Financial income75/76B | - | €1 | €4 | €199 | €1,509 | €6,777 | ▲ 349% |
| Recurring financial income75 | - | €1 | €4 | €199 | €1,509 | €6,777 | ▲ 349% |
| Financial charges65/66B | - | €23 | €389 | €2,786 | €6,324 | €1,665 | ▼ 73.7% |
| Recurring financial charges65 | €7 | €23 | €389 | €2,786 | €6,324 | €1,665 | ▼ 73.7% |
| Profit (loss) for the period before taxes9903 | €3,309 | €2,008 | -€7,842 | €4,842 | €6,819 | €31,213 | ▲ 358% |
| Income taxes67/77 | €720 | €485 | - | - | €400 | €10,899 | ▲ 27× |
| Profit (loss) for the period9904 | €2,589 | €1,524 | -€7,842 | €4,842 | €6,419 | €20,313 | ▲ 216% |
| Profit (loss) for the period to be appropriated9905 | €2,589 | €1,524 | -€7,842 | €4,842 | €6,419 | €20,313 | ▲ 216% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €10,885 | €84,384 | €75,586 | €81,961 | €117,414 | €78,412 | ▼ 33.2% |
| Fixed assets21/28 | - | €175 | €175 | €175 | €175 | €6,330 | ▲ 36× |
| Tangible fixed assets22/27 | - | - | - | - | - | €6,155 | - |
| Plant, machinery and equipment23 | - | - | - | - | - | €6,155 | - |
| Financial fixed assets28 | - | €175 | €175 | €175 | €175 | €175 | = |
| Current assets29/58 | €10,885 | €84,209 | €75,411 | €81,786 | €117,239 | €72,082 | ▼ 38.5% |
| Amounts receivable within one year40/41 | €10,882 | €70,802 | €71,158 | €76,181 | €106,579 | €56,102 | ▼ 47.4% |
| Trade receivables40 | - | €70,802 | €69,868 | €52,854 | €75,170 | €20,901 | ▼ 72.2% |
| Other amounts receivable41 | - | - | €1,290 | €23,327 | €31,410 | €35,200 | ▲ 12.1% |
| Cash at bank and in hand54/58 | €3 | €13,185 | €4,253 | €3,948 | €9,937 | €15,029 | ▲ 51.2% |
| Deferred charges and accrued income490/1 | - | €223 | - | €1,658 | €723 | €951 | ▲ 31.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €10,885 | €84,384 | €75,586 | €81,961 | €117,414 | €78,412 | ▼ 33.2% |
| Equity10/15 | €4,589 | €6,112 | -€1,730 | €3,112 | €9,531 | €29,844 | ▲ 213% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Contributions outside capital11 | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Other1109/19 | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €2,589 | €4,112 | -€3,730 | €1,112 | €7,531 | €27,844 | ▲ 270% |
| Amounts payable17/49 | €6,296 | €78,272 | €77,316 | €78,849 | €107,883 | €48,568 | ▼ 55.0% |
| Amounts payable within one year42/48 | €6,296 | €78,272 | €77,316 | €77,349 | €107,883 | €48,568 | ▼ 55.0% |
| Trade debts44 | €708 | €55,351 | €65,847 | €73,123 | €85,076 | €37,215 | ▼ 56.3% |
| Suppliers440/4 | - | €55,351 | €65,847 | €73,123 | €85,076 | €37,215 | ▼ 56.3% |
| Advances received on contracts in progress46 | - | €4,500 | €8,000 | €4,226 | €20,907 | €1,500 | ▼ 92.8% |
| Taxes, remuneration and social security45 | - | €1,352 | €515 | - | €400 | €9,853 | ▲ 25× |
| Taxes450/3 | - | €1,352 | €515 | - | €400 | €9,853 | ▲ 25× |
| Other amounts payable47/48 | - | €17,069 | €2,954 | - | €1,500 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €1,500 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,589 | €1,524 | -€7,842 | €4,842 | €6,419 | €20,313 | ▲ 216% |
| + Depreciation and write-downs630 | €1,218 | - | - | - | - | €663 | - |
| Operating cash flow (approximation) | €3,807 | €1,524 | -€7,842 | €4,842 | €6,419 | €20,976 | ▲ 227% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | -€6,818 | - |
| Change in cash | - | €13,181 | -€8,931 | -€305 | €5,989 | €5,092 | ▼ 15.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as BE PROJETS has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BE PROJETS itself: 1.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for BE PROJETS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-08-2026 | 2026-00458269 | |
| 31-12-2024 | micro format | 31-10-2025 | 2025-00557161 | |
| 31-12-2023 | micro format | 27-04-2025 | 2025-00076746 | |
| 31-12-2022 | micro format | 19-04-2024 | 2024-00065267 | |
| 31-12-2021 | micro format | 03-02-2023 | 2023-00021630 | |
| 31-12-2020 | micro format | 28-08-2021 | 2021-57500157 |