CFK PROJECTS
ActiveSummary
CFK PROJECTS has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31,273 and a net result of -€4,328. Equity is shrinking by about 23% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 24% of 10,760 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, abbreviated format
Equity
€31,273▼ 12.2%
2024 · €35,602
Total assets
€147,641▼ 2.7%
2024 · €151,697
Net result
-€4,328▼ 45.0%
2024 · -€2,986
Working capital
-€53,078▼ 57.8%
2024 · -€33,638
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €6,572 in 2025 against €8,384 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.007m
2025
Net result-€0.004m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.1m
2025
Equity€0.03m
2025
Debt€0.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.05m
2025
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)-2.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency21.2%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.17
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy 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
Line20182019202020212022202320242025
Operating result€0.4m-€0.07m▼ 83.6%€0.4m▲ 514%-€0.02m€0.007m€0.008m▲ 17.9%-€0.008m-€0.007m▲ 21.6%
Net result€0.3m-€0.008m▼ 97.5%€0.4mabove the sector's middle half▲ 44×-€0.05mbelow the sector's middle half-€0.05mbelow the sector's middle half▲ 17.9%€0.009mwithin the sector's middle half-€0.003mbelow the sector's middle half-€0.004mbelow the sector's middle half▼ 45.0%
Equity€0.2m-€0.2m▲ 3.5%€0.3mwithin the sector's middle half▲ 4.9%€0.2mwithin the sector's middle half▼ 21.6%€0.2mwithin the sector's middle half▼ 22.6%€0.04mbelow the sector's middle half▼ 75.0%€0.04mbelow the sector's middle half▼ 7.7%€0.03mbelow the sector's middle half▼ 12.2%
Total assets€5.4m-€4.7m▼ 12.9%€3.5mabove the sector's middle half▼ 26.0%€1.9mwithin the sector's middle half▼ 46.6%€1.1mwithin the sector's middle half▼ 42.5%€0.3mbelow the sector's middle half▼ 71.1%€0.2mbelow the sector's middle half▼ 51.2%€0.1mbelow the sector's middle half▼ 2.7%
Debt€5.2m-€4.5m▼ 13.6%€3.2m▼ 27.7%€1.7m▼ 48.6%€0.9m▼ 44.9%€0.3m▼ 70.4%€0.1m▼ 57.4%€0.1m▲ 0.2%
Working capital€0.4m-€0.4m▼ 11.3%€0.6mabove the sector's middle half▲ 73.3%€0.3mwithin the sector's middle half▼ 53.8%€0.2mwithin the sector's middle half▼ 17.9%-€0.03mwithin the sector's middle half-€0.03mwithin the sector's middle half▼ 9.7%-€0.05mwithin the sector's middle half▼ 57.8%
Solvency4.3%-5.1%▲ 0.8pp7.3%below the sector's middle half▲ 2.1pp10.7%below the sector's middle half▲ 3.4pp14.4%below the sector's middle half▲ 3.7pp12.4%below the sector's middle half▼ 2.0pp23.5%below the sector's middle half▲ 11.1pp21.2%below the sector's middle half▼ 2.3pp
Current ratio1.08-1.08=1.22within the sector's middle half▲ 0.131.18within the sector's middle half▼ 0.031.28within the sector's middle half▲ 0.100.89within the sector's middle half▼ 0.400.48below the sector's middle half▼ 0.410.17below the sector's middle half▼ 0.31
Return on assets (ROA)6.0%-0.2%▼ 5.9pp10.3%within the sector's middle half▲ 10.2pp-2.9%below the sector's middle half▼ 13.3pp-4.2%below the sector's middle half▼ 1.3pp2.9%within the sector's middle half▲ 7.1pp-2.0%below the sector's middle half▼ 4.9pp-2.9%below the sector's middle half▼ 1.0pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy 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.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €147,641
Fixed assets
€136,796 ▲ 13.2%
Current assets
€10,845 ▼ 64.8%
Equity and liabilities €147,641
Equity
€31,273 ▼ 12.2%
Debt
€116,368 ▲ 0.2%
Debt's share of the balance-sheet total rises from 76.5% to 78.8%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
3.72▲
2024 · 3.26
ROE
-13.8%▼
2024 · -8.4%
Debt ≤ 1 year
€63,923▼
2024 · €64,439
Debt > 1 year
€51,192▲
2024 · €49,446
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €6,795 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,496 | €1,496 | €1,061 | €119 | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €21,670 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €979 | €3,014 | €11,164 | €1,394 | €654 | ▼ 53.1% |
| Non-recurring operating charges66A | - | - | - | - | €7,297 | - | - | - | - |
| Gross operating margin9900 | €424,661 | €71,527 | €429,588 | -€19,562 | €17,206 | €40,962 | -€6,990 | -€5,918 | ▲ 15.3% |
| Operating profit (loss)9901 | €422,130 | €69,056 | €424,075 | -€20,660 | €6,895 | €8,128 | -€8,384 | -€6,572 | ▲ 21.6% |
| Financial income75/76B | - | - | - | €3 | €48 | €3,921 | €8,400 | €4,011 | ▼ 52.3% |
| Recurring financial income75 | €13,164 | €66 | €33 | €3 | €48 | €3,921 | €8,400 | €4,011 | ▼ 52.3% |
| Financial charges65/66B | - | - | - | €34,307 | €52,057 | €3,087 | €3,002 | €1,767 | ▼ 41.1% |
| Recurring financial charges65 | €94,710 | €57,257 | €55,500 | €34,307 | €52,057 | €1,920 | €3,002 | €1,767 | ▼ 41.1% |
| Non-recurring financial charges66B | - | - | - | - | - | €1,167 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €340,584 | €11,865 | €368,609 | -€54,965 | -€45,114 | €8,962 | -€2,986 | -€4,328 | ▼ 45.0% |
| Income taxes67/77 | €12,184 | €3,639 | €6,778 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €328,400 | €8,226 | €361,831 | -€54,965 | -€45,114 | €8,962 | -€2,986 | -€4,328 | ▼ 45.0% |
| Profit (loss) for the period to be appropriated9905 | €328,400 | €8,226 | €361,831 | -€54,965 | -€45,114 | €8,962 | -€2,986 | -€4,328 | ▼ 45.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.4m | €4.7m | €3.5m | €1.9m | €1.1m | €0.3m | €0.2m | €0.1m | ▼ 2.7% |
| Fixed assets21/28 | €0.003m | €0.001m | €119 | - | - | €0.07m | €0.1m | €0.1m | ▲ 13.2% |
| Tangible fixed assets22/27 | €0.003m | €0.001m | €119 | - | - | - | - | - | - |
| Financial fixed assets28 | - | - | - | - | - | €0.07m | €0.1m | €0.1m | ▲ 13.2% |
| Current assets29/58 | €5.4m | €4.7m | €3.5m | €1.9m | €1.1m | €0.2m | €0.03m | €0.01m | ▼ 64.8% |
| Stocks and contracts in progress3 | €4.7m | €4.3m | €2.2m | €1.8m | €0.5m | - | - | - | - |
| Stocks30/36 | - | - | - | €1.8m | €0.5m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.3m | €0.08m | €0.4m | €0.004m | €0.005m | €0.005m | ▲ 6.4% |
| Trade receivables40 | - | - | - | €9 | €0.4m | €447 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €0.08m | €0.02m | €0.003m | €0.005m | €0.005m | ▲ 6.4% |
| Current investments50/53 | - | - | - | - | €0.03m | - | - | - | - |
| Cash at bank and in hand54/58 | €0.6m | €0.3m | €0.9m | €0.04m | €0.06m | €0.2m | €0.02m | €0.001m | ▼ 91.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | - | €0.004m | €0.008m | €0.004m | ▼ 52.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.4m | €4.7m | €3.5m | €1.9m | €1.1m | €0.3m | €0.2m | €0.1m | ▼ 2.7% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.04m | €0.04m | €0.03m | ▼ 12.2% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.02m | €0.02m | €0.01m | ▼ 28.6% |
| Amounts payable17/49 | €5.2m | €4.5m | €3.2m | €1.7m | €0.9m | €0.3m | €0.1m | €0.1m | ▲ 0.2% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €0.05m | €0.05m | ▲ 3.5% |
| Financial debts170/4 | - | - | - | - | - | - | €0.05m | €0.05m | ▲ 3.5% |
| Amounts payable within one year42/48 | €5.0m | €4.4m | €2.9m | €1.6m | €0.8m | €0.3m | €0.06m | €0.06m | ▼ 0.8% |
| Trade debts44 | €0.6m | €1.1m | €0.9m | €0.9m | €0.1m | €0.1m | €0.05m | €0.06m | ▲ 3.4% |
| Suppliers440/4 | - | - | - | €0.9m | €0.1m | €0.1m | €0.05m | €0.06m | ▲ 3.4% |
| Advances received on contracts in progress46 | - | - | - | €0.04m | €0.04m | €0.002m | €0.002m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.1m | - | €1 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | - | €0.1m | - | €1 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.6m | €0.6m | €0.2m | €0.007m | €0.007m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €0.08m | €0.002m | €0.002m | €0.001m | ▼ 43.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €328,400 | €8,226 | €361,831 | -€54,965 | -€45,114 | €8,962 | -€2,986 | -€4,328 | ▼ 45.0% |
| + Depreciation and write-downs630 | €1,496 | €1,496 | €1,061 | €119 | - | - | - | - | - |
| Operating cash flow (approximation) | €329,896 | €9,722 | €362,892 | -€54,846 | -€45,114 | €8,962 | -€2,986 | -€4,328 | ▼ 45.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - | -€49,989 | -€15,900 | ▲ 68.2% |
| Change in cash | - | -€302,301 | €596,344 | -€883,754 | €25,698 | €170,666 | -€215,000 | -€15,893 | ▲ 92.6% |
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 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 01-07-2026 | 2026-00244457 |
| 31-12-2024 | abbreviated format | 28-07-2025 | 2025-00344501 |
| 31-12-2023 | abbreviated format | 26-08-2024 | 2024-00379020 |
| 31-12-2022 | abbreviated format | 29-08-2023 | 2023-00389211 |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20393520 |
| 31-12-2020 | abbreviated format | 30-08-2021 | 2021-61800272 |
| 31-12-2019 | abbreviated format | 17-09-2020 | 2020-54100436 |
| 31-12-2018 | abbreviated format | 01-08-2019 | 2019-43000137 |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-34800318 |
| 31-12-2016 | full format | 28-06-2017 | 2017-24800601 |
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Of the 82,475 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,350. 36,194 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.