Crop Projects
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-06-2026 at the NBB all 14 filings
Equity
€686,907▼ 7.0%
2024 · €738,439
Total assets
€1.7m▲ 81.1%
2024 · €965,427
Net result
-€51,532▼ 87.1%
2024 · -€27,545
Working capital
€696,536▼ 6.9%
2024 · €748,068
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€45,121
▼ 7.2%
2025
20182025
Net result
-€51,532
▼ 87.1%
2025
lowest quarter of the sector
20182025
Equity
€686,907
▼ 7.0%
2025
highest quarter of the sector
20182025
Total assets
€1.7m
▲ 81.1%
2025
highest quarter of the sector
20182025
Debt
€1.1m
▲ 368%
2025
20182025
Working capital
€696,536
▼ 6.9%
2025
highest quarter of the sector
20182025
Solvency
39.3%
▼ 37.2pp
2025
middle half of the sector
20182025
Current ratio
1.66
▼ 2.80
2025
middle half of the sector
20182025
Return on assets (ROA)
-2.9%
▼ 0.1pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.09m▼ 70.1%€0.4m▲ 311%-€0.2m€0.4m-€0.1m-€0.04m▲ 57.8%-€0.05m▼ 7.2%
Net result€0.2m-€0.05m▼ 75.5%€0.3mabove the sector's middle half▲ 414%-€0.2mbelow the sector's middle half€0.3mabove the sector's middle half-€0.09mbelow the sector's middle half-€0.03mbelow the sector's middle half▲ 69.2%-€0.05mbelow the sector's middle half▼ 87.1%
Equity€0.5m-€0.5m▲ 11.1%€0.8mabove the sector's middle half▲ 51.6%€0.5mwithin the sector's middle half▼ 32.8%€0.9mabove the sector's middle half▲ 60.7%€0.8mabove the sector's middle half▼ 10.5%€0.7mwithin the sector's middle half▼ 3.6%€0.7mabove the sector's middle half▼ 7.0%
Total assets€1.2m-€2.1m▲ 65.2%€1.1mwithin the sector's middle half▼ 48.7%€1.7mwithin the sector's middle half▲ 56.9%€1.1mwithin the sector's middle half▼ 31.2%€1.0mwithin the sector's middle half▼ 12.8%€1.0mwithin the sector's middle half▼ 2.9%€1.7mabove the sector's middle half▲ 81.1%
Debt€0.8m-€1.5m▲ 97.8%€0.3m▼ 82.8%€1.1m▲ 324%€0.3m▼ 74.6%€0.2m▼ 20.0%€0.2m▼ 0.7%€1.1m▲ 368%
Working capital€0.5m-€0.5m▲ 11.3%€0.8mabove the sector's middle half▲ 50.8%€0.5mwithin the sector's middle half▼ 32.6%€0.9mabove the sector's middle half▲ 60.9%€0.8mabove the sector's middle half▼ 10.2%€0.7mabove the sector's middle half▼ 3.7%€0.7mabove the sector's middle half▼ 6.9%
Solvency37.6%-25.3%▼ 12.3pp74.9%above the sector's middle half▲ 49.6pp32.1%within the sector's middle half▼ 42.8pp75.0%above the sector's middle half▲ 42.9pp77.0%above the sector's middle half▲ 2.0pp76.5%above the sector's middle half▼ 0.5pp39.3%within the sector's middle half▼ 37.2pp
Current ratio1.62-1.35▼ 0.274.08above the sector's middle half▲ 2.741.48within the sector's middle half▼ 2.604.15above the sector's middle half▲ 2.674.57above the sector's middle half▲ 0.424.46above the sector's middle half▼ 0.111.66within the sector's middle half▼ 2.80
Return on assets (ROA)17.1%-2.5%▼ 14.6pp25.5%above the sector's middle half▲ 22.9pp-9.6%below the sector's middle half▼ 35.1pp28.3%above the sector's middle half▲ 37.9pp-9.0%below the sector's middle half▼ 37.3pp-2.9%below the sector's middle half▲ 6.1pp-2.9%below the sector's middle half▼ 0.1pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €45,121, larger than the loss of €42,098 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€1,385 =
Current assets
€1.7m ▲ 81.3%
Equity and liabilities €1.7m
Equity
€686,907 ▼ 7.0%
Debt
€1.1m ▲ 368%
Debt's share of the balance-sheet total rises from 23.5% to 60.7%. Equity is lower and debt is higher.
Key figures and ratios
Quick ratio
0.93▼
2024 · 4.15
Debt to equity
1.55▲
2024 · 0.31
ROE
-7.5%▼
2024 · -3.7%
Debt ≤ 1 year
€1.1m▲
2024 · €215,974
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | €1,385 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €3,493 | €2,615 | €1,254 | €1,303 | €1,126 | ▼ 13.5% |
| Gross operating margin9900 | €303,828 | €90,986 | €375,364 | -€146,520 | €377,457 | -€98,399 | -€40,795 | -€43,995 | ▼ 7.8% |
| Operating profit (loss)9901 | €299,256 | €89,492 | €367,413 | -€150,013 | €374,842 | -€99,654 | -€42,098 | -€45,121 | ▼ 7.2% |
| Financial income75/76B | - | - | - | €3,039 | €15,110 | €17,398 | €21,729 | €18,144 | ▼ 16.5% |
| Recurring financial income75 | €11,179 | €5,468 | €16,355 | €3,039 | €15,110 | €17,398 | €21,729 | €18,144 | ▼ 16.5% |
| Financial charges65/66B | - | - | - | €12,551 | €11,923 | €7,281 | €7,176 | €24,555 | ▲ 242% |
| Recurring financial charges65 | €16,891 | €18,376 | €13,518 | €12,551 | €11,923 | €7,281 | €7,176 | €24,555 | ▲ 242% |
| Profit (loss) for the period before taxes9903 | €293,544 | €76,583 | €370,250 | -€159,526 | €378,028 | -€89,537 | -€27,545 | -€51,532 | ▼ 87.1% |
| Income taxes67/77 | €79,847 | €24,182 | €100,727 | - | €54,878 | - | - | - | - |
| Profit (loss) for the period9904 | €213,697 | €52,402 | €269,523 | -€159,526 | €323,151 | -€89,537 | -€27,545 | -€51,532 | ▼ 87.1% |
| Profit (loss) for the period to be appropriated9905 | €213,697 | €52,402 | €269,523 | -€159,526 | €323,151 | -€89,537 | -€27,545 | -€51,532 | ▼ 87.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €2.1m | €1.1m | €1.7m | €1.1m | €1.0m | €1.0m | €1.7m | ▲ 81.1% |
| Fixed assets21/28 | €0.001m | - | €0.001m | €0.001m | €0.001m | - | €0.001m | €0.001m | = |
| Financial fixed assets28 | €0.001m | - | €0.001m | €0.001m | €0.001m | - | €0.001m | €0.001m | = |
| Current assets29/58 | €1.2m | €2.1m | €1.1m | €1.7m | €1.1m | €1.0m | €1.0m | €1.7m | ▲ 81.3% |
| Stocks and contracts in progress3 | €0.7m | €1.0m | €0.02m | €0.7m | - | - | €0.07m | €0.8m | ▲ 11× |
| Stocks30/36 | - | - | - | €0.7m | - | - | €0.07m | €0.8m | ▲ 11× |
| Amounts receivable within one year40/41 | €0.07m | €0.4m | €0.4m | €0.3m | €0.4m | €0.9m | €0.8m | €0.7m | ▼ 14.2% |
| Trade receivables40 | - | - | - | - | €0.009m | €0.01m | €70 | €0.01m | ▲ 178× |
| Other amounts receivable41 | - | - | - | €0.3m | €0.3m | €0.9m | €0.8m | €0.7m | ▼ 15.7% |
| Cash at bank and in hand54/58 | €0.5m | €0.7m | €0.7m | €0.6m | €0.8m | €0.05m | €0.04m | €0.2m | ▲ 471% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.02m | €0.04m | €0.05m | ▲ 46.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €2.1m | €1.1m | €1.7m | €1.1m | €1.0m | €1.0m | €1.7m | ▲ 81.1% |
| Equity10/15 | €0.5m | €0.5m | €0.8m | €0.5m | €0.9m | €0.8m | €0.7m | €0.7m | ▼ 7.0% |
| Contributions10/11 | €0.1m | €0.1m | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.4m | €0.4m | €0.7m | €0.6m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.01m | €0.01m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.6m | €0.7m | €0.8m | €0.8m | €0.8m | = |
| Profit (loss) carried forward14 | - | - | - | -€0.2m | - | -€0.09m | -€0.1m | -€0.2m | ▼ 44.0% |
| Amounts payable17/49 | €0.8m | €1.5m | €0.3m | €1.1m | €0.3m | €0.2m | €0.2m | €1.1m | ▲ 368% |
| Amounts payable within one year42/48 | €0.8m | €1.5m | €0.3m | €1.1m | €0.3m | €0.2m | €0.2m | €1.1m | ▲ 387% |
| Financial debts43 | - | - | - | - | - | - | - | €0.4m | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €0.4m | - |
| Trade debts44 | €0.001m | €0.001m | €0.008m | - | €0.03m | €403 | €0.001m | €0.008m | ▲ 771% |
| Suppliers440/4 | - | - | - | - | €0.03m | €403 | €0.001m | €0.008m | ▲ 771% |
| Advances received on contracts in progress46 | - | - | - | €0.9m | - | - | - | €0.4m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0.03m | €0.002m | - | €0.006m | - |
| Taxes450/3 | - | - | - | €0.006m | €0.03m | €0.002m | - | €0.006m | - |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.007m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €213,697 | €52,402 | €269,523 | -€159,526 | €323,151 | -€89,537 | -€27,545 | -€51,532 | ▼ 87.1% |
| Operating cash flow (approximation) | €213,697 | €52,402 | €269,523 | -€159,526 | €323,151 | -€89,537 | -€27,545 | -€51,532 | ▼ 87.1% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - | - | €0 | - |
| Change in cash | - | €174,958 | -€2,646 | -€27,988 | €142,485 | -€734,306 | -€15,458 | €180,472 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,686 companies had the same profile as Crop Projects has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Crop Projects itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 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 2,686 companies, not a prediction for Crop 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.
Latest 10 of 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 17-06-2026 | 2026-00169059 | |
| 31-12-2024 | abbreviated format | 27-06-2025 | 2025-00241185 | |
| 31-12-2023 | abbreviated format | 04-07-2024 | 2024-00207190 | |
| 31-12-2022 | abbreviated format | 27-06-2023 | 2023-00164386 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20151689 | |
| 31-12-2020 | abbreviated format | 22-06-2021 | 2021-25000242 | |
| 31-12-2019 | abbreviated format | 03-07-2020 | 2020-26200155 | |
| 31-12-2018 | abbreviated format | 19-06-2019 | 2019-20600218 | |
| 31-12-2017 | abbreviated format | 30-07-2018 | 2018-39800213 | |
| 31-12-2016 | abbreviated format | 26-07-2017 | 2017-36900477 |