Debts
Of this, €2.0m falls due within a year.
Of this, €2.0m falls due within a year.
Green is investment, beige is depreciation.
Lower solvency than 81% of companies in real estate. Sector median 30.7% · 11,299 companies.
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small). It does better than 16% of them on solvency, 35% on liquidity, 29% on profitability and 93% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 628 companies had the same profile as BVK PROJECTS has now. Each dot stands for 2 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BVK PROJECTS itself: 0.1% within 12 months.
The method was tested on the 497,447 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 628 companies, not a prediction for BVK PROJECTS. 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.
Liquidity is ample, with a current ratio of 3.34 (4.63 in 2024), above the usual 1.5. Short-term debt is 29.9% and cash 2.6% of total assets. However, 99.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 3 accounts on average 31 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| BVK PROJECTS Zele | €6.8m | €14,031 | 0.7% | - |
| MIIX BRUXELMAN Deinze | €6.7m | €12,887 | 29.4% | 0 |
| Résidence K Brussels | €6.1m | €20,172 | -4.5% | - |
| BOIS MADAME Liège | €5.4m | €28,716 | 11.7% | 0 |
| IRIST Anzegem | €4.2m | €23,122 | 0.2% | - |
| Kliniek Gebouw Ghent | €13.1m | €16,278 | -10.6% | 0 |
| De Rybel Invest Beveren-Kruibeke-Zwijndrecht | €5.2m | €47,173 | 94.3% | - |
These companies have the same main activity as BVK PROJECTS: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €4.2m and €13m, founded between 2021 and 2023.
BVK PROJECTS files the abbreviated format. That format states no turnover. The gross margin rose from -€3,145 in 2023 to €14,031 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €58,000. Estimated: probably between €29,000 and €180,000.
Amounts without an identifiable currency are taken as euros.
Higher than 18% of 11,299 companies in 2025.
Higher than 79% of 10,851 companies in 2025.
Higher than 44% of 11,184 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
6.8m | 3.4m | 584,577 | |
21/28 |
21,769 | - | - | |
22/27 |
21,769 | - | - | |
22 |
21,769 | - | - | |
29/58 |
6.8m | 3.4m | 584,577 | |
3 |
6.6m | 3.3m | 390,555 | |
30/36 |
6.6m | 3.3m | 390,555 | |
40/41 |
12,715 | 135,923 | 35,786 | |
40 |
2,913 | 1,250 | - | |
41 |
9,802 | 134,673 | 35,786 | |
54/58 |
175,580 | 48,572 | 158,236 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
6.8m | 3.4m | 584,577 | |
10/15 |
47,439 | 23,533 | 6,485 | |
10/11 |
10,000 | 10,000 | 10,000 | |
14 |
37,439 | 13,533 | -3,515 | |
17/49 |
6.7m | 3.4m | 578,092 | |
17 |
4.7m | 2.7m | 42,210 | |
170/4 |
4.7m | 2.7m | 42,210 | |
42/48 |
2.0m | 742,512 | 535,882 | |
43 |
73,631 | - | - | |
430/8 |
73,631 | - | - | |
44 |
212,381 | 104,212 | 30,516 | |
440/4 |
212,381 | 104,212 | 30,516 | |
45 |
10,845 | 8,300 | 366 | |
450/3 |
10,845 | 8,300 | 366 | |
47/48 |
1.7m | 630,000 | 505,000 | |
| Income statement | ||||
9900 |
14,031 | -3,720 | -3,145 | |
630 |
96 | - | - | |
640/8 |
767 | 1,140 | 348 | |
9901 |
13,169 | -4,860 | -3,493 | |
75/76B |
25,989 | 31,136 | - | |
75 |
25,989 | 31,136 | - | |
65/66B |
6,887 | 928 | 23 | |
65 |
6,887 | 928 | 23 | |
9903 |
32,271 | 25,348 | -3,515 | |
67/77 |
8,365 | 8,300 | - | |
9904 |
23,906 | 17,048 | -3,515 | |
9905 |
23,906 | 17,048 | -3,515 | |
| Appropriation of the result | ||||
9906 |
37,439 | 13,533 | -3,515 | |
14P |
13,533 | -3,515 | - | |
| Document | ||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-07-2026.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 13,264 | - | - | ||
| 24,002 | - | - | ||
| 21,865 | - | - | ||
| 127,008 | -109,664 | - | ||
| 4.7m | 2.7m | 48,695 | ||
| 0.7% | 0.7% | 1.1% | ||
| 3.34 | 4.63 | 1.09 | ||
| 0.09 | 0.25 | 0.36 | ||
| - | - | 89.15 | ||
| 50.4% | 72.4% | -54.2% | ||
| 0.4% | 0.5% | -0.6% | ||
| 1.93 | - | - |
A ratio outside any meaningful range has been withheld (balance sheet total €6.8m, equity €47,439).
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.
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €21,865 | - | - |
| €96 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €13,169, after a loss of €4,860 in 2024. It is the highest result since 2023.
Debt's share of the balance-sheet total stays at 99.3%.
Source: lists of holdings in the owners' accounts
BVK PROJECTS has no parent and no holdings in its annual accounts.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Drukkerijstraat 11J registered office 9240 Zele | 30-11-2022 | 2.338.581.413 |
| 01-09-2026 | Granted | Nieuwe publiciteitsinrichting (met inbegrip van vernieuwen van een bestaande vergunning) submitted 03-07-2026 · project 2025112616 | Mechelen |
| 26-03-2026 | Granted | Aanleg van nieuwe verkeersweg; Het reliëf van de bodem aanmerkelijk wijzigen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Slopen van niet vrijstaande gebouwen of constructies; Verwijderen van vrijstaande gebouwen submitted 31-03-2025 · Bijstelling van een bestaande verkaveling · project 2025029745 | Provincie Antwerpen |
| 03-06-2025 | Granted | Verbouwen en/of uitbreiden van bijgebouwen en niet overdekte lage constructies submitted 31-03-2025 · project 2025027595 | Mechelen |
| 05-09-2024 | Granted | Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies submitted 01-06-2024 · project 2024053048 | Gent |
| 11-08-2023 | Granted | Bouwen of herbouwen; Verwijderen van vrijstaande gebouwen submitted 26-05-2023 · project 2023055686 | Knokke-Heist |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 42028A1420/00E000 | 1.3 ha | 1 · 3,752 m² | 11.5 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0794.257.576
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