CAVELL PROJECTS
ActiveSummary
CAVELL PROJECTS has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €337,283 and a net result of €174,140. Equity is growing by ~28.8% per year across the filed fiscal years. Its solvency ranks better than 67% of 4616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+62
Solvency85▼-15
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 2.48 against 8.66 in 2024; short-term debt: 40.3% and cash: 81% of total assets), and 40.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
59.7%
Return on assets
30.8%
Age of the figures
9 mo
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 05-05-2026, 87 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
87 d early
2024
98 d early
2023
78 d early
2022
32 d early
2021
88 d early
2020
103 d early
2019
87 d early
← 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 82 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 5 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€829,487▼ 97.9%
2022 · €39.4m
EBIT margin
99.2%▲ 93.2pp
2022 · 6.0%
Net result
€174,140▲ 20,640%
2024 · €840
Working capital
€337,282▼ 92.3%
2024 · €4.4m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Turnover€296,864€39.4m▲ 13,165%€829,487▼ 97.9%
Operating result€376,565▲ 106%€2.4m▲ 531%€822,959▼ 65.3%-€119,190€180,177
Net result€135,276within the sector's middle half▲ 727%€1.7mabove the sector's middle half▲ 1,145%€581,387above the sector's middle half▼ 65.5%€840within the sector's middle half▼ 99.9%€174,140within the sector's middle half▲ 20,640%
EBIT margin126.8%6.0%▼ 120.8pp99.2%▲ 93.2pp
Equity€2.1mwithin the sector's middle half▲ 6.8%€3.8mabove the sector's middle half▲ 79.5%€4.4mabove the sector's middle half▲ 15.3%€4.4mabove the sector's middle half=€337,283within the sector's middle half▼ 92.3%
Total assets€17.6mabove the sector's middle half▲ 158%€8.8mwithin the sector's middle half▼ 50.1%€5.0mwithin the sector's middle half▼ 43.7%€5.0mwithin the sector's middle half=€564,738below the sector's middle half▼ 88.6%
Debt€15.5m▲ 219%€5.0m▼ 67.8%€575,366▼ 88.5%€572,180▼ 0.6%€227,455▼ 60.2%
Working capital€4.3mabove the sector's middle half▲ 4.3%€6.0mabove the sector's middle half▲ 40.7%€4.4mabove the sector's middle half▼ 27.0%€4.4mabove the sector's middle half=€337,282within the sector's middle half▼ 92.3%
Solvency12.0%within the sector's middle half▼ 17.0pp43.2%within the sector's middle half▲ 31.2pp88.4%above the sector's middle half▲ 45.2pp88.5%above the sector's middle half▲ 0.1pp59.7%within the sector's middle half▼ 28.7pp
Current ratio1.32within the sector's middle half▼ 1.173.15above the sector's middle half▲ 1.838.62above the sector's middle half▲ 5.478.66above the sector's middle half▲ 0.042.48within the sector's middle half▼ 6.18
Return on assets (ROA)0.8%within the sector's middle half▲ 0.5pp19.1%above the sector's middle half▲ 18.4pp11.7%above the sector's middle half▼ 7.4pp0.0%within the sector's middle half▼ 11.7pp30.8%above the sector's middle half▲ 30.8pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €180,177 after a loss of €119,190 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €564,738
Fixed assets
€1 =
Current assets
€564,737 ▼ 88.6%
Equity and liabilities €564,738
Equity
€337,283 ▼ 92.3%
Debt
€227,455 ▼ 60.2%
Debt's share of the balance-sheet total rises from 11.5% to 40.3%. Equity and debt are lower.
Key figures and ratios
Quick ratio
2.37▼
2024 · 8.47
Debt to equity
0.67▲
2024 · 0.13
ROE
51.6%▲
2024 · 0.0%
Debt ≤ 1 year
€227,455▼
2024 · €572,180
Income taxes
€58,361▲
2024 · €280
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,781 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.7%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,781 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €16.2m | €15.9m | €833,321 | - | - | - |
| Turnover70 | €296,864 | €39.4m | €829,487 | - | - | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €15.9m | -€23.4m | €0 | - | - | - |
| Other operating income74 | €3,171 | €3,622 | €3,834 | - | - | - |
| Operating charges60/66A | €15.8m | €13.6m | €10,362 | - | - | - |
| Goods for resale, raw materials and consumables60 | €10.0m | €12.9m | -€43,408 | - | - | - |
| Purchases600/8 | €10.4m | €12.1m | - | - | - | - |
| Change in stocks: decrease (increase)609 | -€430,823 | €849,986 | -€43,408 | - | - | - |
| Services and other goods61 | €5.8m | €641,817 | €52,764 | - | - | - |
| Other operating charges640/8 | €3,013 | €2,430 | €1,006 | €1,840 | €1,155 | ▼ 37.3% |
| Gross operating margin9900 | - | - | - | -€117,350 | €181,332 | ▲ 255% |
| Operating profit (loss)9901 | €376,565 | €2.4m | €822,959 | -€119,190 | €180,177 | ▲ 251% |
| Financial income75/76B | €9,362 | €1 | €0 | €121,310 | €52,801 | ▼ 56.5% |
| Recurring financial income75 | €9,362 | €1 | €0 | €121,310 | €52,801 | ▼ 56.5% |
| Other financial income752/9 | €9,362 | €1 | €0 | - | - | - |
| Financial charges65/66B | €130,040 | €123,175 | €52,721 | €1,000 | €477 | ▼ 52.3% |
| Recurring financial charges65 | €130,040 | €123,175 | €52,721 | €1,000 | €477 | ▼ 52.3% |
| Debt charges650 | €40,015 | €54,522 | €51,364 | - | - | - |
| Other financial charges652/9 | €90,025 | €68,653 | €1,357 | - | - | - |
| Profit (loss) for the period before taxes9903 | €255,886 | €2.3m | €770,238 | €1,120 | €232,501 | ▲ 20,668% |
| Income taxes67/77 | €120,610 | €567,702 | €188,851 | €280 | €58,361 | ▲ 20,752% |
| Taxes670/3 | €120,610 | €567,702 | €188,851 | - | - | - |
| Profit (loss) for the period9904 | €135,276 | €1.7m | €581,387 | €840 | €174,140 | ▲ 20,640% |
| Profit (loss) for the period to be appropriated9905 | €135,276 | €1.7m | €581,387 | €840 | €174,140 | ▲ 20,640% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17.6m | €8.8m | €5.0m | €5.0m | €564,738 | ▼ 88.6% |
| Fixed assets21/28 | €1 | €1 | €1 | €1 | €1 | = |
| Financial fixed assets28 | €1 | €1 | €1 | €1 | €1 | = |
| Affiliated companies280/1 | €1 | €1 | €1 | - | - | - |
| Participating interests280 | €1 | €1 | €1 | - | - | - |
| Current assets29/58 | €17.6m | €8.8m | €5.0m | €5.0m | €564,737 | ▼ 88.6% |
| Stocks and contracts in progress3 | €1.5m | €679,163 | €184,128 | €109,799 | €24,826 | ▼ 77.4% |
| Stocks30/36 | €1.5m | €679,163 | €184,128 | €109,799 | €24,826 | ▼ 77.4% |
| Property held for sale35 | €1.5m | €679,163 | €184,128 | - | - | - |
| Amounts receivable within one year40/41 | €775,364 | €524,208 | €120,863 | €101,657 | €81,182 | ▼ 20.1% |
| Trade receivables40 | €698,296 | €198,202 | €67,724 | €6,391 | €6,391 | = |
| Other amounts receivable41 | €77,068 | €326,006 | €53,139 | €95,266 | €74,791 | ▼ 21.5% |
| Cash at bank and in hand54/58 | €15.0m | €7.6m | €4.6m | €4.7m | €457,357 | ▼ 90.3% |
| Deferred charges and accrued income490/1 | €332,029 | - | €8,486 | €19,988 | €1,372 | ▼ 93.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17.6m | €8.8m | €5.0m | €5.0m | €564,738 | ▼ 88.6% |
| Equity10/15 | €2.1m | €3.8m | €4.4m | €4.4m | €337,283 | ▼ 92.3% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Capital10 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Issued capital100 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Reserves13 | €85,776 | €85,776 | €85,776 | €85,776 | €85,776 | = |
| Non-distributable reserves130/1 | €85,776 | €85,776 | €85,776 | €85,776 | €85,776 | = |
| Legal reserve130 | €85,776 | €85,776 | €85,776 | €85,776 | €85,776 | = |
| Profit (loss) carried forward14 | €1.8m | €3.5m | €4.0m | €4.0m | €1,507 | ▼ 100.0% |
| Amounts payable17/49 | €15.5m | €5.0m | €575,366 | €572,180 | €227,455 | ▼ 60.2% |
| Amounts payable after more than one year17 | €2.2m | €2.2m | - | - | - | - |
| Financial debts170/4 | €2.2m | €2.2m | - | - | - | - |
| Subordinated loans170 | €2.2m | €2.2m | - | - | - | - |
| Amounts payable within one year42/48 | €13.4m | €2.8m | €575,366 | €572,180 | €227,455 | ▼ 60.2% |
| Trade debts44 | €8.6m | €2.8m | €575,366 | €572,180 | €7,455 | ▼ 98.7% |
| Suppliers440/4 | €8.6m | €2.8m | €575,366 | €572,180 | €7,455 | ▼ 98.7% |
| Advances received on contracts in progress46 | €4.7m | - | - | - | - | - |
| Taxes, remuneration and social security45 | €8,991 | - | - | €0 | - | - |
| Taxes450/3 | €8,991 | - | - | €0 | - | - |
| Other amounts payable47/48 | €44,941 | - | - | - | €220,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135,276 | €1.7m | €581,387 | €840 | €174,140 | ▲ 20,640% |
| Operating cash flow (approximation) | €135,276 | €1.7m | €581,387 | €840 | €174,140 | ▲ 20,640% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€7.4m | -€3.0m | €79,687 | -€4.3m | ▼ 5,454% |
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
20-08
State Gazette act
Resignation: Serge FAUTRE (class A director)Appointment: ADEL YAHIA CONSULT SRL (class A director) · Permanent representative: Adel YAHIA4 facts ▸
State Gazette act
Resignation: Serge FAUTRE (class A director)
Appointment: ADEL YAHIA CONSULT SRL (class A director) · Permanent representative: Adel YAHIA4 facts ▸
- General meeting, 10-08-2026
- Director resignation, Serge FAUTRE (class A director)
- Director appointment, ADEL YAHIA CONSULT SRL (class A director)
- Permanent representative, Adel YAHIA (permanent representative)
05-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
14-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Liquidity triplescurrent ratio 8.62
Current ratio from 3.15 to 8.62; short-term debt falls from €2.8m to €575,366.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity doublescurrent ratio 3.15
Current ratio from 1.32 to 3.15; short-term debt falls from €13.4m to €2.8m.
04-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €2mEq €2.1m ▲6.8%
3 profitable years in a row build equity to €2.1m.
19-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
05-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €2.0m
Net result €2.0m after one loss-making year.
Show earlier events
31-12
Financial
Equity above €1mEq €2.0m
Equity rises from -€13,998 to €2.0m.
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 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 2026
Board 1
ADEL YAHIA CONSULT
CurrentClass A director · since 20-08-2026 · Private limited company (pre-2019) · perm. rep.: Adel YAHIA
Permanent representatives 1
Adel YAHIA
CurrentPermanent representative · since 20-08-2026 · for ADEL YAHIA CONSULT
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
11 of this company's 12 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, Brussel · 1 establishment unit since 2017
Ground area
3,149 m²
Building footprint
3,026 m²
Volume, LiDAR
70,303 m³
Parcel 21805E0482/00C000, Brussels · tallest building 31.9 m, ±9 floors. Linked by address, not a title deed.
101
companies at this address
See who is registered here
1 establishment unit
Cavell Projects
since 20172.266.969.578
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21805E0482/00C000 | Brussels | 3,149 m² | 1 · 3,026 m² | 31.9 m · 9 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
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ADEL YAHIA CONSULT |
|
| Serge Fautré |
|
Articles of association
Other statement
One provision in the deed
Structure & network
Owners and holdings
2 ownersOwners 2
-
50%
-
50%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
15 connected companiesThis company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
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Identification & contact
Identification
Legal formPublic limited company
Founded20-06-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0676976361
Also
9925:BE0676976361
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.