BL Project
Annual accounts 2025
abbreviated format, filed on 09-04-2026, 21 days before the deadline-€52,080
▼ €242,115
-€68,640
▼ €252,567
€1.1m
▲ 786%
€3.7m
▲ 166×
96.8%
▲ 5.3 percentage points
37.46
▲ 36.36
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance sheet
balance sheet total €3.9m on 30-09-2025What the company ownsHow it is paid for
in €m
in €m
Position in the sector
96.8%
Higher than 94% of 10,855 companies in 2025.
37.46
Higher than 95% of 10,477 companies in 2025.
28.1%
Higher than 87% of 10,724 companies in 2025.
BL Project
Middle half of the sector
80% of the sector
Abbreviated accounts in head offices and management consultancy (NACE 70)
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
3.9m | 2.9m | 3.3m | 3.7m | 3.6m | 3.4m | 3.5m | 3.3m | 3.1m | 3.2m | 3.1m | 3.0m | 3.0m | 2.9m | 116,016 | 107,901 | 78,380 | |
21/28 |
63,659 | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.8m | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.6m | 2.6m | 13,555 | 20,996 | 27,427 | |
22/27 |
63,659 | 35,914 | 28,368 | 35,065 | 49,194 | 58,086 | 63,020 | 13,902 | 23,170 | - | 303 | 606 | 910 | 7,369 | 13,555 | 20,996 | 27,427 | |
23 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 226 | 515 | 846 | 279 | |
24 |
46,150 | 13,871 | 1,792 | 3,954 | 15,557 | 25,755 | 41,420 | 13,902 | 23,170 | - | 303 | 606 | 910 | 7,143 | 13,040 | 20,150 | 27,147 | |
26 |
17,508 | 22,042 | 26,576 | 31,110 | 33,637 | 32,331 | 21,600 | - | - | - | - | - | - | - | - | - | - | |
28 |
0 | 2.6m | 2.6m | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.7m | 2.6m | 2.6m | - | - | - | |
29/58 |
3.8m | 257,494 | 642,471 | 959,869 | 909,844 | 604,719 | 780,554 | 611,923 | 406,951 | 558,439 | 381,061 | 326,828 | 327,499 | 237,067 | 102,461 | 86,905 | 50,954 | |
3 |
6,556 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
30/36 |
6,556 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
399,073 | 15,125 | 40,125 | 195,068 | 301,268 | 425,866 | 324,775 | 120,803 | 101,614 | 246,625 | 67,400 | 69,152 | 19,205 | 15,125 | 19,405 | 58,620 | 12,663 | |
40 |
12,398 | 15,125 | 40,125 | 143,393 | 151,055 | 15,125 | 45,140 | 15,125 | 15,125 | 196,625 | 15,125 | 15,125 | 15,125 | 15,125 | 17,243 | 51,180 | 12,663 | |
41 |
386,675 | - | 0 | 51,675 | 150,213 | 410,741 | 279,635 | 105,678 | 86,489 | 50,000 | 52,275 | 54,027 | 4,080 | - | 2,162 | 7,441 | - | |
50/53 |
3.4m | 88,824 | 400,000 | - | - | 0 | 250,000 | 250,000 | 250,000 | 236,185 | 250,000 | - | - | - | - | - | - | |
54/58 |
34,664 | 153,545 | 202,346 | 764,802 | 608,576 | 178,853 | 205,779 | 241,120 | 55,337 | 75,629 | 63,661 | 257,677 | 308,295 | 221,942 | 82,921 | 28,152 | 27,470 | |
490/1 |
294 | - | - | - | - | - | - | - | - | - | - | - | - | - | 135 | 133 | 10,821 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
3.9m | 2.9m | 3.3m | 3.7m | 3.6m | 3.4m | 3.5m | 3.3m | 3.1m | 3.2m | 3.1m | 3.0m | 3.0m | 2.9m | 116,016 | 107,901 | 78,380 | |
10/15 |
3.8m | 2.7m | 3.0m | 2.3m | 2.2m | 1.9m | 2.3m | 2.1m | 1.9m | 1.7m | 1.6m | 1.5m | 1.5m | 1.1m | 79,958 | 68,547 | 48,590 | |
10/11 |
250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 250,000 | 965,500 | 965,500 | 965,500 | 965,500 | 965,500 | 965,500 | 250,000 | 250,000 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 965,500 | 965,500 | 965,500 | 965,500 | 965,500 | 965,500 | 250,000 | 250,000 | 18,600 | 18,600 | 18,600 | |
13 |
3.5m | 2.4m | 2.8m | 2.0m | 1.9m | 1.7m | 1.3m | 1.1m | 938,031 | 731,277 | 641,114 | 537,986 | 1.3m | 820,124 | 61,358 | 49,947 | 29,990 | |
130/1 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 67,631 | 57,134 | 47,396 | 37,058 | 32,550 | 27,390 | 25,000 | 25,000 | 1,860 | 1,860 | 1,500 | |
1311 |
- | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
3.5m | 2.4m | 2.8m | 2.0m | 1.9m | 1.7m | 1.3m | 1.1m | 890,635 | 694,219 | 608,564 | 510,595 | 1.3m | 795,124 | 59,498 | 48,087 | 28,491 | |
14 |
0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
124,029 | 248,923 | 285,073 | 1.4m | 1.5m | 1.4m | 1.2m | 1.2m | 1.2m | 1.5m | 1.5m | 1.5m | 1.4m | 1.8m | 36,058 | 39,354 | 29,790 | |
17 |
- | - | 0 | 1.1m | 1.1m | 1.1m | 1.1m | 1.2m | 1.2m | 1.2m | 1.4m | 1.4m | 1.4m | 1.4m | - | - | - | |
170/4 |
- | - | 0 | 1.1m | 1.1m | 1.1m | 1.1m | 1.2m | 1.2m | 1.2m | 1.4m | 1.4m | 1.4m | 1.4m | - | - | - | |
42/48 |
102,466 | 234,946 | 285,073 | 362,739 | 428,401 | 367,368 | 170,849 | 63,039 | 61,790 | 397,162 | 110,251 | 159,027 | 78,309 | 451,711 | 35,558 | 38,354 | 27,377 | |
42 |
- | - | - | - | - | 0 | 100,000 | - | - | 200,000 | - | - | - | 400,000 | - | - | - | |
43 |
- | 0 | 10,090 | 19,858 | 10,099 | 0 | 13,511 | 4,878 | 4,864 | 1,310 | 285 | - | 3,024 | - | - | - | - | |
430/8 |
- | 0 | 10,090 | 19,858 | 10,099 | 0 | 13,511 | 4,878 | 4,864 | 1,310 | - | - | - | - | - | - | - | |
439 |
- | - | - | - | - | - | - | - | - | - | 285 | - | 3,024 | - | - | - | - | |
44 |
3,574 | 7,665 | 2,905 | 3,368 | 1,174 | 1,526 | 22,854 | 922 | 1,700 | 2,560 | 485 | 3,193 | 1,286 | 346 | 1,201 | 10,567 | 1,399 | |
440/4 |
3,574 | 7,665 | 2,905 | 3,368 | 1,174 | 1,526 | 22,854 | 922 | 1,700 | 2,560 | 485 | 3,193 | 1,286 | 346 | 1,201 | 10,567 | 1,399 | |
45 |
90,672 | 22,991 | 89,628 | 27,002 | 55,055 | 5,173 | 34,484 | 30,245 | 28,853 | 116,870 | 34,640 | 31,732 | 50,520 | 28,222 | 12,183 | 7,922 | 8,373 | |
450/3 |
89,002 | 22,991 | 89,628 | 27,002 | 55,055 | 5,173 | 34,484 | 30,245 | 27,351 | 115,369 | 34,640 | 30,219 | 47,390 | 26,668 | 10,639 | 3,873 | 6,887 | |
454/9 |
1,670 | - | - | - | - | - | - | - | 1,502 | 1,501 | - | 1,513 | 3,131 | 1,554 | 1,544 | 4,049 | 1,486 | |
47/48 |
8,220 | 204,290 | 182,450 | 312,511 | 362,073 | 360,669 | - | 26,995 | 26,374 | 76,422 | 74,841 | 124,103 | 23,479 | 23,142 | 22,173 | 19,866 | 17,605 | |
492/3 |
21,563 | 13,977 | - | - | - | 0 | 2,000 | 2,000 | 2,300 | 2,000 | 2,000 | 2,422 | 2,422 | 10,101 | 500 | 1,000 | 2,413 | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | 9,000 | - | - | - | - | - | - | - | - | |
9900 |
-52,080 | 190,035 | 132,925 | 195,294 | 235,854 | 95,573 | 149,185 | 110,757 | 113,013 | 263,873 | 119,756 | 107,102 | 160,858 | 70,764 | 25,126 | 39,235 | 56,660 | |
62 |
- | - | 0 | 485 | 239 | 800 | - | - | - | - | - | - | - | - | - | - | - | |
630 |
15,855 | 5,755 | 6,697 | 16,105 | 17,554 | 18,925 | 27,505 | 9,268 | 15,446 | 303 | 3,471 | 303 | 6,459 | 7,702 | 7,441 | 7,448 | 9,214 | |
640/8 |
705 | 353 | 406 | 4,768 | 700 | 687 | 269 | 695 | 702 | 2,069 | 1,632 | 1,754 | 1,035 | 1,649 | 818 | 606 | 306 | |
66A |
- | - | - | - | - | 0 | 13,902 | - | - | - | - | - | - | - | - | - | - | |
9901 |
-68,640 | 183,927 | 125,823 | 173,936 | 217,361 | 75,161 | 107,510 | 100,794 | 96,865 | 261,501 | 114,653 | 105,044 | 153,365 | 61,413 | 16,867 | 31,181 | 47,141 | |
75/76B |
1.3m | 12,629 | 761,806 | 58 | 100,005 | 304,934 | 154,825 | 150,377 | 151,454 | 55 | 50,779 | 2,850 | 401,622 | 750,063 | 27 | 33 | 2 | |
75 |
69,977 | 12,629 | 48 | 58 | 100,005 | 304,934 | 154,825 | 150,377 | 151,454 | 55 | 50,779 | 2,850 | 401,622 | 750,063 | 27 | 33 | 2 | |
76B |
1.2m | 0 | 761,758 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
8,217 | 14,466 | 35,815 | 36,111 | 35,214 | 26,136 | 24,783 | 28,165 | 15,906 | 45,721 | 32,032 | 33,770 | 44,038 | 26,987 | 1,785 | 1,275 | 1,201 | |
65 |
8,217 | 14,466 | 35,815 | 36,111 | 35,214 | 26,136 | 24,783 | 28,165 | 15,906 | 45,721 | 32,032 | 33,770 | 44,038 | 26,987 | 1,785 | 1,275 | 1,201 | |
9903 |
1.2m | 182,090 | 851,814 | 137,882 | 282,152 | 353,960 | 237,552 | 223,006 | 232,412 | 215,834 | 133,399 | 74,125 | 510,949 | 784,489 | 15,109 | 29,939 | 45,941 | |
67/77 |
109,602 | 58,372 | 98,242 | 36,325 | 46,951 | 13,748 | 27,613 | 28,251 | 25,659 | 125,671 | 30,271 | 26,318 | 45,895 | 25,723 | 3,698 | 7,582 | 15,951 | |
9904 |
1.1m | 123,718 | 753,572 | 101,558 | 235,201 | 340,212 | 209,939 | 194,755 | 206,754 | 90,163 | 103,128 | 47,808 | 465,054 | 758,766 | 11,411 | 22,357 | 29,990 | |
9905 |
1.1m | 123,718 | 753,572 | 101,558 | 235,201 | 340,212 | 209,939 | 194,755 | 206,754 | 90,163 | 103,128 | 47,808 | 465,054 | 758,766 | 11,411 | 22,357 | 29,990 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
1.1m | 123,718 | 753,572 | 101,558 | 235,201 | 340,212 | 209,939 | 194,755 | 206,754 | 90,163 | 103,128 | 47,808 | 465,054 | 758,766 | 11,411 | 22,357 | 29,990 | |
791/2 |
0 | 465,000 | - | - | - | - | - | - | - | - | - | 795,000 | - | - | - | - | - | |
691/2 |
1.1m | 123,718 | 753,572 | 101,558 | 235,201 | 340,212 | 209,939 | 194,755 | 206,754 | 90,163 | 103,128 | 47,808 | 465,054 | 758,766 | 11,411 | 19,957 | 29,990 | |
6920 |
- | - | - | - | - | 0 | 10,497 | 9,738 | 10,338 | 4,508 | 5,160 | 2,390 | - | 23,140 | - | 361 | 1,500 | |
6921 |
1.1m | 123,718 | 753,572 | 101,558 | 235,201 | 340,212 | 199,442 | 185,017 | 196,416 | 85,655 | 97,969 | 45,417 | 465,054 | 735,626 | 11,411 | 19,596 | 28,491 | |
694/7 |
0 | 465,000 | - | - | - | - | - | - | - | - | - | 795,000 | - | - | - | 2,400 | - | |
694 |
0 | 465,000 | - | - | - | - | - | - | - | - | - | 795,000 | - | - | - | 2,400 | - | |
| Social balance sheet | ||||||||||||||||||
9087 |
0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 09-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 09-04-2026 | 2026-00082101 | |
| 30-09-2024 | abbreviated format | 15-05-2025 | 2025-00096278 | |
| 30-09-2023 | abbreviated format | 19-04-2024 | 2024-00065656 | |
| 30-09-2022 | abbreviated format | 02-05-2023 | 2023-00080227 | |
| 30-09-2021 | abbreviated format | 11-03-2022 | 2022-07600523 | |
| 30-09-2020 | abbreviated format | 30-04-2021 | 2021-13200359 | |
| 30-09-2019 | abbreviated format | 29-06-2020 | 2020-25200543 | |
| 30-09-2018 | abbreviated format | 10-05-2019 | 2019-13100571 | |
| 30-09-2017 | abbreviated format | 30-03-2018 | 2018-09400303 | |
| 30-09-2016 | abbreviated format | 17-03-2017 | 2017-06700165 | |
| 30-09-2015 | abbreviated format | 15-03-2016 | 2016-06600103 | |
| 30-09-2014 | abbreviated format | 10-04-2015 | 2015-09700590 | |
| 30-09-2013 | abbreviated format | 28-04-2014 | 2014-11500094 | |
| 30-09-2012 | abbreviated format | 03-05-2013 | 2013-11700019 | |
| 30-09-2011 | abbreviated format | 12-03-2012 | 2012-06000273 | |
| 30-09-2010 | abbreviated format | 30-03-2011 | 2011-07300578 | |
| 30-09-2009 | abbreviated format | 30-04-2010 | 2010-10600576 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -52,785 | 189,682 | 132,519 | 190,040 | 234,915 | 94,086 | 135,015 | 110,062 | 112,311 | 261,804 | 118,124 | 105,348 | 159,824 | 69,115 | 24,308 | 38,629 | 56,355 | ||
| 1.1m | 129,473 | 760,268 | 117,662 | 252,755 | 359,137 | 237,444 | 204,023 | 222,200 | 90,467 | 106,600 | 48,111 | 471,513 | 766,468 | 18,852 | 29,805 | 39,204 | ||
| 43,600 | 13,300 | -50,000 | 1,975 | 8,663 | 13,991 | 90,525 | 0 | 38,616 | 0 | 3,168 | 50,000 | 0 | 2.6m | 0 | 1,017 | 36,641 | ||
| -118,881 | -48,801 | -562,455 | 156,226 | 429,723 | -26,927 | -35,340 | 185,783 | -20,292 | 11,968 | -194,015 | -50,618 | 86,353 | 139,021 | 54,769 | 682 | - | ||
| 3.7m | 22,549 | 357,398 | 597,130 | 481,443 | 237,351 | 609,705 | 548,884 | 345,161 | 161,277 | 270,811 | 167,801 | 249,190 | -214,644 | 66,903 | 48,551 | 23,577 | ||
| 96.8% | 91.5% | 91.4% | 61.6% | 59.5% | 57.7% | 65.4% | 63.3% | 61.1% | 52.3% | 52.4% | 49.9% | 51.8% | 37.1% | 68.9% | 63.5% | 62.0% | ||
| 37.46 | 1.10 | 2.25 | 2.65 | 2.12 | 1.65 | 4.57 | 9.71 | 6.59 | 1.41 | 3.46 | 2.06 | 4.18 | 0.52 | 2.88 | 2.27 | 1.86 | ||
| 37.40 | 1.10 | 2.25 | 2.65 | 2.12 | 1.65 | 4.57 | 9.71 | 6.59 | 1.41 | 3.46 | 2.06 | 4.18 | 0.52 | 2.88 | 2.27 | 1.86 | ||
| 0.03 | 0.09 | 0.09 | 0.62 | 0.68 | 0.73 | 0.53 | 0.58 | 0.64 | 0.91 | 0.91 | 1.01 | 0.93 | 1.69 | 0.45 | 0.57 | 0.61 | ||
| 29.0% | 4.6% | 24.9% | 4.5% | 10.8% | 17.6% | 9.1% | 9.3% | 10.9% | 5.3% | 6.4% | 3.2% | 30.3% | 70.9% | 14.3% | 32.6% | 61.7% | ||
| 28.1% | 4.2% | 22.8% | 2.8% | 6.4% | 10.2% | 5.9% | 5.9% | 6.6% | 2.8% | 3.4% | 1.6% | 15.7% | 26.3% | 9.8% | 20.7% | 38.3% | ||
| -6.42 | 13.11 | 3.70 | 5.26 | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €43,600 | €13,300 | - | €1,975 |
| €15,855 | €5,755 | €6,697 | €16,105 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on BL Project
The operating result for 2025 is a loss of €68,640, after a profit of €183,927 in 2024. It is the lowest result since 2009.
Debt's share of the balance-sheet total falls from 8.5% to 3.2%. Equity is higher and debt is lower.
Large changes and their cause
- 2025 Net result +786% on 2024. The 2025 profit included a one-off income of €1,212,500.
- 2024 Net result -84% on 2023. The 2023 profit included a one-off income of €761,758.
- 2023 Net result +642% on 2022. The 2023 profit included a one-off income of €761,758.