C & D PROJECTS
ActiveSummary
C & D PROJECTS has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €28.0m and a net result of €285,214. Equity is growing by about 3.8% per year across the filed financial years. Its solvency ranks better than 92% of 130 sector peers (NACE 68, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2026, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€285,214▼ 82.2%
2025 · €1.6m
Working capital
€6.6m▲ 5.5%
2025 · €6.2m
Trend over the years
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
After the dip in 2024 the operating result has climbed two years in a row; 2026 is 74% above 2025 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.4m
2026
Net result€0.3m
2026
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€30.3m
2026
Equity€28.0m
2026
Debt€2.1m
2026
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€6.6m
2026
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.9%
2026
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency92.3%
2026
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio49.37
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)2.4
2026
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.2m-€0.3m▲ 78.8%€0.05m▼ 84.6%€0.3m▲ 410%€0.3m▲ 6.3%€0.2m▼ 29.1%€0.2m▲ 5.6%€0.4m▲ 74.2%
Net result€3.3m-€2.1m▼ 34.5%-€0.01mbelow the sector's middle half€0.2mabove the sector's middle half€2.4mabove the sector's middle half▲ 14×€0.2mabove the sector's middle half▼ 93.8%€1.6mabove the sector's middle half▲ 957%€0.3m▼ 82.2%
Equity€21.2m-€23.3m▲ 10.2%€23.3mabove the sector's middle half▲ 0.2%€23.5mabove the sector's middle half▲ 0.7%€25.9mabove the sector's middle half▲ 10.4%€26.1mabove the sector's middle half▲ 0.6%€27.7mabove the sector's middle half▲ 6.1%€28.0m▲ 1.0%
Total assets€23.7m-€25.8m▲ 9.0%€25.7mabove the sector's middle half▼ 0.3%€25.9mabove the sector's middle half▲ 0.7%€28.3mabove the sector's middle half▲ 9.4%€28.5mabove the sector's middle half▲ 0.6%€30.1mabove the sector's middle half▲ 5.7%€30.3m▲ 0.7%
Debt€2.2m-€2.2m▼ 0.4%€2.1m▼ 1.7%€2.1m▲ 1.2%€2.1m▲ 0.5%€2.2m▲ 1.1%€2.2m▲ 1.5%€2.1m▼ 3.2%
Working capital€2.3m-€3.3m▲ 46.0%€3.5mabove the sector's middle half▲ 3.3%€3.7mabove the sector's middle half▲ 8.4%€4.4mabove the sector's middle half▲ 16.9%€4.6mabove the sector's middle half▲ 5.8%€6.2mabove the sector's middle half▲ 34.4%€6.6m▲ 5.5%
Solvency89.4%-90.4%▲ 1.0pp90.8%above the sector's middle half▲ 0.4pp90.8%above the sector's middle half=91.6%above the sector's middle half▲ 0.8pp91.6%above the sector's middle half=92.0%above the sector's middle half▲ 0.4pp92.3%▲ 0.3pp
Current ratio28.82-46.44▲ 17.6294.41above the sector's middle half▲ 47.9762.03above the sector's middle half▼ 32.3762.52above the sector's middle half▲ 0.4949.49above the sector's middle half▼ 13.0349.37above the sector's middle half▼ 0.13
Return on assets (ROA)13.9%-8.3%▼ 5.5pp-0.1%within the sector's middle half▼ 8.4pp0.7%within the sector's middle half▲ 0.7pp8.6%above the sector's middle half▲ 8.0pp0.5%within the sector's middle half▼ 8.1pp5.3%within the sector's middle half▲ 4.8pp0.9%▼ 4.4pp
Staff (FTE)4.7-4▼ 14.9%3.8within the sector's middle half▼ 5.0%4above the sector's middle half▲ 5.3%3.5above the sector's middle half▼ 12.5%4.1above the sector's middle half▲ 17.1%3.6above the sector's middle half▼ 12.2%2.4▼ 33.3%
above
within
below
the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2026 Net result -82% on 2025. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €30.3m
Fixed assets
€23.7m ▼ 0.3%
Current assets
€6.6m ▲ 4.3%
Equity and liabilities €30.3m
Equity
€28.0m ▲ 1.0%
Provisions
€184,956 ▼ 6.2%
Debt
€2.1m ▼ 3.2%
Debt's share of the balance-sheet total falls from 7.3% to 7.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€422,373▲
2025 · €283,472
Cash flow
€357,487▼
2025 · €1.7m
Debt to equity
0.08▼
2025 · 0.08
ROE
1.0%▼
2025 · 5.8%
Interest coverage
4.03▲
2025 · 2.71
Debt ≤ 1 year
€58,636▼
2025 · €128,625
Debt > 1 year
€2.1m=
2025 · €2.1m
Income taxes
€100,874▼
2025 · €115,642
Staff costs
€135,082▼
2025 · €177,946
A ratio outside any meaningful range has been withheld (balance sheet total €30.3m, equity €28.0m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.08m | €0.07m | ▼ 12.4% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.02m | ▲ 2.8% |
| Gross operating margin9900 | €0.6m | €0.7m | €0.3m | €0.5m | €0.6m | €0.5m | €0.5m | €0.6m | ▲ 20.1% |
| Operating profit (loss)9901 | €0.2m | €0.3m | €0.05m | €0.3m | €0.3m | €0.2m | €0.2m | €0.4m | ▲ 74.2% |
| Financial income75/76B | - | - | - | €0.05m | €2.3m | €0.1m | €1.6m | €0.1m | ▼ 92.0% |
| Recurring financial income75 | €3.2m | €2.0m | €0.02m | €0.05m | €2.3m | €0.1m | €1.6m | €0.1m | ▼ 92.0% |
| Non-recurring financial income76B | - | - | - | - | €0.001m | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.08m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 0.2% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.09m | €0.08m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 0.2% |
| Profit (loss) for the period before taxes9903 | €3.3m | €2.2m | -€0.02m | €0.2m | €2.5m | €0.2m | €1.7m | €0.4m | ▼ 78.1% |
| Transfer from deferred taxes780 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 6.0% |
| Income taxes67/77 | €0.03m | €0.08m | €0.01m | €0.07m | €0.08m | €0.06m | €0.1m | €0.1m | ▼ 12.8% |
| Profit (loss) for the period9904 | €3.3m | €2.1m | -€0.01m | €0.2m | €2.4m | €0.2m | €1.6m | €0.3m | ▼ 82.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.05m | €0.04m | €0.04m | €0.04m | €0.04m | ▼ 6.0% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | - | €0.1m | - |
| Profit (loss) for the period to be appropriated9905 | €3.3m | €2.2m | €0.04m | €0.2m | €2.5m | €0.2m | €1.6m | €0.2m | ▼ 88.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €23.7m | €25.8m | €25.7m | €25.9m | €28.3m | €28.5m | €30.1m | €30.3m | ▲ 0.7% |
| Fixed assets21/28 | €21.3m | €22.4m | €22.2m | €22.1m | €23.9m | €23.8m | €23.8m | €23.7m | ▼ 0.3% |
| Tangible fixed assets22/27 | €2.0m | €1.8m | €1.7m | €1.5m | €1.4m | €1.3m | €1.2m | €1.1m | ▼ 6.1% |
| Land and buildings22 | - | - | - | €1.5m | €1.4m | €1.3m | €1.2m | €1.1m | ▼ 6.1% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €476 | €76 | - | - | - |
| Financial fixed assets28 | €19.3m | €20.6m | €20.6m | €20.6m | €22.5m | €22.5m | €22.6m | €22.6m | = |
| Current assets29/58 | €2.4m | €3.4m | €3.5m | €3.8m | €4.4m | €4.7m | €6.3m | €6.6m | ▲ 4.3% |
| Amounts receivable after more than one year29 | - | - | - | €2.2m | €3.1m | €2.9m | €2.8m | €2.8m | = |
| Trade receivables290 | - | - | - | €2.2m | - | - | €2.8m | €2.8m | = |
| Other amounts receivable291 | - | - | - | - | €3.1m | €2.9m | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.08m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 44.5% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 44.5% |
| Other amounts receivable41 | - | - | - | - | €0.001m | €0.002m | - | - | - |
| Current investments50/53 | - | - | - | - | €1.0m | €1.5m | €3.2m | €2.2m | ▼ 31.1% |
| Cash at bank and in hand54/58 | €2.0m | €3.1m | €0.2m | €1.5m | €0.3m | €0.2m | €0.1m | €1.5m | ▲ 13× |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.004m | €0.008m | €0.02m | €0.01m | ▼ 49.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €23.7m | €25.8m | €25.7m | €25.9m | €28.3m | €28.5m | €30.1m | €30.3m | ▲ 0.7% |
| Equity10/15 | €21.2m | €23.3m | €23.3m | €23.5m | €25.9m | €26.1m | €27.7m | €28.0m | ▲ 1.0% |
| Contributions10/11 | €4.5m | €4.5m | €4.5m | €4.5m | €4.5m | €4.5m | €4.5m | €4.5m | = |
| Capital10 | - | - | - | €4.5m | €4.5m | €4.5m | €4.5m | €4.5m | = |
| Issued capital100 | - | - | - | €4.5m | €4.5m | €4.5m | €4.5m | €4.5m | = |
| Reserves13 | €1.3m | €1.3m | €1.3m | €1.2m | €1.2m | €1.1m | €1.6m | €1.7m | ▲ 5.6% |
| Non-distributable reserves130/1 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Legal reserve130 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Tax-exempt reserves132 | - | - | - | €0.7m | €0.7m | €0.6m | €0.6m | €0.7m | ▲ 15.1% |
| Distributable reserves133 | - | - | - | €0.06m | €0.06m | €0.06m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | €15.4m | €17.5m | €17.6m | €17.8m | €20.3m | €20.5m | €21.6m | €21.8m | ▲ 0.9% |
| Provisions and deferred taxes16 | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 6.2% |
| Deferred taxes168 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 6.2% |
| Amounts payable17/49 | €2.2m | €2.2m | €2.1m | €2.1m | €2.1m | €2.2m | €2.2m | €2.1m | ▼ 3.2% |
| Amounts payable after more than one year17 | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Financial debts170/4 | - | - | - | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Amounts payable within one year42/48 | €0.08m | €0.07m | €0.04m | €0.06m | €0.07m | €0.1m | €0.1m | €0.06m | ▼ 54.4% |
| Trade debts44 | €0.02m | €0.01m | €0.008m | €0.007m | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 43.1% |
| Suppliers440/4 | - | - | - | €0.007m | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 43.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.05m | €0.08m | €0.1m | €0.05m | ▼ 55.4% |
| Taxes450/3 | - | - | - | €0.04m | €0.04m | €0.07m | €0.1m | €0.04m | ▼ 58.6% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.01m | ▼ 36.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3.3m | €2.1m | -€0.01m | €0.2m | €2.4m | €0.2m | €1.6m | €0.3m | ▼ 82.2% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.08m | €0.07m | ▼ 12.4% |
| Operating cash flow (approximation) | €3.5m | €2.3m | €0.1m | €0.3m | €2.6m | €0.3m | €1.7m | €0.4m | ▼ 78.8% |
| Investment in fixed assets (approximation) | - | -€1.3m | -€0.005m | €0 | -€1.9m | €0 | -€0.08m | €0 | - |
| Change in cash | - | €1.1m | -€2.9m | €1.3m | -€1.2m | -€0.09m | -€0.06m | €1.4m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-03-2026 | full format | 24-09-2026 | 2026-00525305 |
| 31-03-2025 | abbreviated format | 23-09-2025 | 2025-00501385 |
| 31-03-2024 | abbreviated format | 20-09-2024 | 2024-00468593 |
| 31-03-2023 | abbreviated format | 02-10-2023 | 2023-00469607 |
| 31-03-2022 | abbreviated format | 29-09-2022 | 2022-20445074 |
| 31-03-2021 | abbreviated format | 13-10-2021 | 2021-71800359 |
| 31-03-2020 | abbreviated format | 25-09-2020 | 2020-55600539 |
| 31-03-2019 | abbreviated format | 16-10-2019 | 2019-70500087 |
| 31-03-2018 | abbreviated format | 28-09-2018 | 2018-66100510 |
| 31-03-2017 | abbreviated format | 24-10-2017 | 2017-67600179 |
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Of the 9,077 active companies whose main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201), figures are known for 6,784. 1,021 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.