Bogaerts Projects
ActiveSummary
Bogaerts Projects has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €78,669 and a net result of €29,247. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 15% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+36
Solvency36▼-42
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 2.68 against 1.66 in 2024; short-term debt: 7.8% and cash: 1.4% of total assets), but 88.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
11.1%
Return on assets
4.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-05-2026, 85 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
85 d early
2024
193 d late
2023
61 d late
2022
60 d late
2021
37 d early
2020
60 d late
2019
62 d late
← 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 45 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 29 September (4 of the last 5 filed years within 133 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€78,669▲ 59.2%
2024 · €49,422
Total assets
€707,955▲ 654%
2024 · €93,946
Net result
€29,247
2024 · -€28,268
Working capital
€92,899▲ 342%
2024 · €20,995
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Operating result€23,679▲ 110%€11,105▼ 53.1%€11,254▲ 1.3%€24,108▲ 114%€74,823▲ 210%
Net result€15,543within the sector's middle half▲ 84.9%€6,146within the sector's middle half▼ 60.5%€9,482within the sector's middle half▲ 54.3%-€28,268below the sector's middle half€29,247above the sector's middle half
Equity€62,061within the sector's middle half▲ 33.4%€68,208within the sector's middle half▲ 9.9%€77,690within the sector's middle half▲ 13.9%€49,422within the sector's middle half▼ 36.4%€78,669within the sector's middle half▲ 59.2%
Total assets€233,732within the sector's middle half▲ 11.7%€256,699within the sector's middle half▲ 9.8%€179,033within the sector's middle half▼ 30.3%€93,946within the sector's middle half▼ 47.5%€707,955above the sector's middle half▲ 654%
Debt€171,671▲ 5.5%€188,491▲ 9.8%€101,343▼ 46.2%€44,525▼ 56.1%€629,286▲ 1,313%
Working capital€1,772below the sector's middle half▼ 69.3%€17,071within the sector's middle half▲ 864%€21,098within the sector's middle half▲ 23.6%€20,995within the sector's middle half▼ 0.5%€92,899above the sector's middle half▲ 342%
Solvency26.6%within the sector's middle half▲ 4.3pp26.6%within the sector's middle half=43.4%within the sector's middle half▲ 16.8pp52.6%within the sector's middle half▲ 9.2pp11.1%below the sector's middle half▼ 41.5pp
Current ratio1.01below the sector's middle half▼ 0.031.10below the sector's middle half▲ 0.091.21within the sector's middle half▲ 0.101.66within the sector's middle half▲ 0.452.68within the sector's middle half▲ 1.02
Return on assets (ROA)6.6%within the sector's middle half▲ 2.6pp2.4%within the sector's middle half▼ 4.3pp5.3%within the sector's middle half▲ 2.9pp-30.1%below the sector's middle half▼ 35.4pp4.1%within the sector's middle half▲ 34.2pp
Staff (FTE)1.1▲ 175%1▼ 9.1%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 210% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €707,955
Fixed assets
€559,654 ▲ 1,268%
Current assets
€148,302 ▲ 180%
Equity and liabilities €707,955
Equity
€78,669 ▲ 59.2%
Debt
€629,286 ▲ 1,313%
Debt's share of the balance-sheet total rises from 47.4% to 88.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€116,288▲
2024 · €57,924
Cash flow
€70,713▲
2024 · €5,547
Quick ratio
1.95▲
2024 · 0.41
Debt to equity
8.00▲
2024 · 0.90
ROE
37.2%▲
2024 · -57.2%
Interest coverage
2.55▲
2024 · 1.11
Debt ≤ 1 year
€55,403▲
2024 · €32,046
Debt > 1 year
€573,884
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,368 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.7%
went bankrupt
1.4%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,368 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €22,683 | €38,560 | €4,106 | €5,980 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,192 | €37,932 | €33,815 | €33,815 | €41,465 | ▲ 22.6% |
| Other operating charges640/8 | €21,996 | €6,630 | €3,252 | €2,135 | €9,219 | ▲ 332% |
| Gross operating margin9900 | €102,551 | €94,228 | €52,427 | €66,038 | €125,508 | ▲ 90.1% |
| Operating profit (loss)9901 | €23,679 | €11,105 | €11,254 | €24,108 | €74,823 | ▲ 210% |
| Financial income75/76B | €11 | €0 | - | - | - | - |
| Recurring financial income75 | €11 | €0 | - | - | - | - |
| Financial charges65/66B | €1,824 | €1,617 | €1,771 | €52,377 | €45,576 | ▼ 13.0% |
| Recurring financial charges65 | €1,824 | €1,617 | €1,771 | €52,377 | €45,576 | ▼ 13.0% |
| Profit (loss) for the period before taxes9903 | €21,866 | €9,489 | €9,482 | -€28,268 | €29,247 | ▲ 203% |
| Income taxes67/77 | €6,324 | €3,342 | - | - | - | - |
| Profit (loss) for the period9904 | €15,543 | €6,146 | €9,482 | -€28,268 | €29,247 | ▲ 203% |
| Profit (loss) for the period to be appropriated9905 | €15,543 | €6,146 | €9,482 | -€28,268 | €29,247 | ▲ 203% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €233,732 | €256,699 | €179,033 | €93,946 | €707,955 | ▲ 654% |
| Fixed assets21/28 | €86,990 | €76,125 | €56,592 | €40,905 | €559,654 | ▲ 1,268% |
| Tangible fixed assets22/27 | €86,990 | €76,125 | €56,592 | €40,905 | €559,654 | ▲ 1,268% |
| Land and buildings22 | - | - | - | - | €540,050 | - |
| Plant, machinery and equipment23 | €39,024 | €14,771 | €11,817 | €9,453 | €19,604 | ▲ 107% |
| Furniture and vehicles24 | €47,965 | €61,353 | €44,775 | €31,452 | - | - |
| Current assets29/58 | €146,743 | €180,574 | €122,441 | €53,041 | €148,302 | ▲ 180% |
| Stocks and contracts in progress3 | €110,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Stocks30/36 | €40,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Contracts in progress37 | €70,000 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €27,207 | €69,538 | €82,184 | €9,018 | €69,043 | ▲ 666% |
| Trade receivables40 | €23,742 | €69,538 | €82,184 | €8,618 | €43,156 | ▲ 401% |
| Other amounts receivable41 | €3,464 | - | - | €400 | €25,887 | ▲ 6,380% |
| Cash at bank and in hand54/58 | €9,536 | €71,036 | €258 | €4,023 | €10,011 | ▲ 149% |
| Deferred charges and accrued income490/1 | - | - | - | - | €29,247 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €233,732 | €256,699 | €179,033 | €93,946 | €707,955 | ▲ 654% |
| Equity10/15 | €62,061 | €68,208 | €77,690 | €49,422 | €78,669 | ▲ 59.2% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Capital10 | €12,400 | €12,400 | €12,400 | €12,400 | - | - |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Uncalled capital101 | €6,200 | €6,200 | €6,200 | €6,200 | - | - |
| Reserves13 | €49,661 | €55,808 | €55,808 | €55,808 | €55,808 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - |
| Distributable reserves133 | €47,801 | €53,948 | €53,948 | €53,948 | €53,948 | = |
| Profit (loss) carried forward14 | - | - | €9,482 | -€18,786 | €10,462 | ▲ 156% |
| Amounts payable17/49 | €171,671 | €188,491 | €101,343 | €44,525 | €629,286 | ▲ 1,313% |
| Amounts payable after more than one year17 | €26,700 | €24,988 | - | - | €573,884 | - |
| Financial debts170/4 | €26,700 | €24,988 | - | - | €573,884 | - |
| Amounts payable within one year42/48 | €144,971 | €163,503 | €101,343 | €32,046 | €55,403 | ▲ 72.9% |
| Current portion of amounts payable after more than one year42 | €4,186 | €14,313 | - | - | €18,241 | - |
| Financial debts43 | - | - | - | €13,532 | €36,850 | ▲ 172% |
| Credit institutions430/8 | - | - | - | €13,532 | €36,850 | ▲ 172% |
| Trade debts44 | €21,180 | €54,777 | €88,116 | €5,690 | €311 | ▼ 94.5% |
| Suppliers440/4 | €21,180 | €54,777 | €88,116 | €5,690 | €311 | ▼ 94.5% |
| Taxes, remuneration and social security45 | €15,826 | €6,766 | €6,070 | - | - | - |
| Taxes450/3 | €9,477 | €4,784 | €6,070 | - | - | - |
| Remuneration and social security454/9 | €6,349 | €1,982 | - | - | - | - |
| Other amounts payable47/48 | €103,779 | €87,647 | €7,157 | €12,824 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €12,479 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,543 | €6,146 | €9,482 | -€28,268 | €29,247 | ▲ 203% |
| + Depreciation and write-downs630 | €34,192 | €37,932 | €33,815 | €33,815 | €41,465 | ▲ 22.6% |
| Operating cash flow (approximation) | €49,735 | €44,078 | €43,298 | €5,547 | €70,713 | ▲ 1,175% |
| Investment in fixed assets (approximation) | - | -€27,067 | -€14,282 | -€18,129 | -€560,214 | ▼ 2,990% |
| Change in cash | - | €61,500 | -€70,778 | €3,766 | €5,987 | ▲ 59.0% |
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
10-09
State Gazette act
Appointment: Danny Bogaerts (director)2 facts ▸
State Gazette act
Appointment: Danny Bogaerts (director)
2 facts ▸
- General meeting, 31-12-2025
- Director appointment, Danny Bogaerts (director)
07-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
09-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 193 days late
2025
31-12
Financial
Back to profitnet €29,247
Net result €29,247 after one loss-making year.
2024
31-12
Financial
Weakest financial yearnet -€28,268
Net result drops to -€28,268, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 60 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 1.04
Current ratio from 0.51 to 1.04.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 62 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2025
Danny Bogaerts
CurrentDirector · since 31-12-2025
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
4 of this company's 5 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Leopoldsburg · 1 establishment unit since 2017
Ground area
2,042 m²
Building footprint
265 m²
Volume, LiDAR
1,455 m³
Parcel 71034A1613/00A000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Heuvelstraat 34, 3970 Leopoldsburg
since 20172.268.002.926
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71034A1613/00A000 | Flanders | 2,042 m² | 1 · 265 m² | 8.3 m · 2 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.
Mandate history
1 person since 2025, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Danny Bogaerts |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,668 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-09-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0680770447
Also
9925:BE0680770447
Registered
12-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.