CVK PROJECTS
ActiveSummary
CVK PROJECTS has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€64,321) and a net result of €6,741. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 7% of 1323 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+89
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.99 against 0.66 in 2024; short-term debt: 62.8% and cash: 28.4% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-152.7%
Return on assets
16%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 1323 sector peers (2025).
NBB · sector comparisonPosition among 1323 sector peers
Solvency
better than 7%
← weakest
strongest →
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
68 d late
2023
62 d late
2022
66 d late
2021
31 d late
2020
55 d late
2019
4 d late
← 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 37 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% 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 2 October (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€64,321▲ 9.5%
2024 · -€71,062
Total assets
€42,114▼ 11.7%
2024 · €47,699
Net result
€6,741
2024 · -€21,275
Working capital
-€280▲ 97.7%
2024 · -€12,187
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, 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
Operating result€11,212€12,254▲ 9.3%-€4,000-€21,720▼ 443%€7,809
Net result€10,081within the sector's middle half€7,636within the sector's middle half▼ 24.3%-€4,881within the sector's middle half-€21,275below the sector's middle half▼ 336%€6,741within the sector's middle half
Equity-€52,542below the sector's middle half▲ 16.1%-€44,906below the sector's middle half▲ 14.5%-€49,787below the sector's middle half▼ 10.9%-€71,062below the sector's middle half▼ 42.7%-€64,321below the sector's middle half▲ 9.5%
Total assets€47,666below the sector's middle half▲ 35.9%€55,129below the sector's middle half▲ 15.7%€73,511below the sector's middle half▲ 33.3%€47,699below the sector's middle half▼ 35.1%€42,114below the sector's middle half▼ 11.7%
Debt€100,208▲ 2.6%€100,035▼ 0.2%€123,298▲ 23.3%€118,761▼ 3.7%€106,435▼ 10.4%
Working capital-€81,359within the sector's middle half▼ 1.4%-€29,052within the sector's middle half▲ 64.3%-€31,078within the sector's middle half▼ 7.0%-€12,187within the sector's middle half▲ 60.8%-€280within the sector's middle half▲ 97.7%
Solvency-110.2%below the sector's middle half▲ 68.4pp-81.5%below the sector's middle half▲ 28.8pp-67.7%below the sector's middle half▲ 13.7pp-149.0%below the sector's middle half▼ 81.3pp-152.7%below the sector's middle half▼ 3.7pp
Current ratio0.15below the sector's middle half▼ 0.030.42within the sector's middle half▲ 0.270.58within the sector's middle half▲ 0.160.66within the sector's middle half▲ 0.090.99within the sector's middle half▲ 0.33
Return on assets (ROA)21.1%above the sector's middle half▲ 32.5pp13.9%above the sector's middle half▼ 7.3pp-6.6%below the sector's middle half▼ 20.5pp-44.6%below the sector's middle half▼ 38.0pp16.0%above the sector's middle half▲ 60.6pp
Staff (FTE)11=1=1=
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €7,809 after a loss of €21,720 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €42,114
Fixed assets
€15,959 ▼ 32.4%
Current assets
€26,156 ▲ 8.6%
Key figures and ratios
EBITDA
€15,475▲
2024 · -€14,054
Cash flow
€14,407▲
2024 · -€13,609
Quick ratio
0.78▲
2024 · 0.56
Debt to equity
-1.65▲
2024 · -1.67
Interest coverage
20.42▲
2024 · -19.61
Debt ≤ 1 year
€26,435▼
2024 · €36,261
Debt > 1 year
€80,000=
2024 · €80,000
Income taxes
€321▲
2024 · €59
Staff costs
€32,399▲
2024 · €30,495
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,640 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,640 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €18,114 | €30,040 | €30,495 | €32,399 | ▲ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,486 | €7,198 | €8,371 | €7,666 | €7,666 | = |
| Other operating charges640/8 | €369 | €1,830 | €499 | €1,004 | €1,085 | ▲ 8.1% |
| Gross operating margin9900 | €16,067 | €39,395 | €34,910 | €17,445 | €48,959 | ▲ 181% |
| Operating profit (loss)9901 | €11,212 | €12,254 | -€4,000 | -€21,720 | €7,809 | ▲ 136% |
| Financial income75/76B | €24 | €6 | - | €1,221 | €11 | ▼ 99.1% |
| Recurring financial income75 | €24 | €6 | - | €1,221 | €11 | ▼ 99.1% |
| Financial charges65/66B | €1,110 | €1,409 | €819 | €717 | €758 | ▲ 5.7% |
| Recurring financial charges65 | €1,110 | €1,409 | €819 | €717 | €758 | ▲ 5.7% |
| Profit (loss) for the period before taxes9903 | €10,126 | €10,851 | -€4,819 | -€21,216 | €7,062 | ▲ 133% |
| Income taxes67/77 | €45 | €3,215 | €62 | €59 | €321 | ▲ 442% |
| Profit (loss) for the period9904 | €10,081 | €7,636 | -€4,881 | -€21,275 | €6,741 | ▲ 132% |
| Profit (loss) for the period to be appropriated9905 | €10,081 | €7,636 | -€4,881 | -€21,275 | €6,741 | ▲ 132% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €47,666 | €55,129 | €73,511 | €47,699 | €42,114 | ▼ 11.7% |
| Fixed assets21/28 | €33,823 | €34,146 | €31,291 | €23,625 | €15,959 | ▼ 32.4% |
| Tangible fixed assets22/27 | €33,823 | €34,146 | €31,291 | €23,625 | €15,959 | ▼ 32.4% |
| Plant, machinery and equipment23 | €8,011 | €10,612 | €9,159 | €6,893 | €4,628 | ▼ 32.9% |
| Furniture and vehicles24 | €3,045 | €2,701 | €1,409 | €852 | €296 | ▼ 65.3% |
| Other tangible fixed assets26 | €22,767 | €20,834 | €20,722 | €15,879 | €11,035 | ▼ 30.5% |
| Current assets29/58 | €13,843 | €20,983 | €42,220 | €24,074 | €26,156 | ▲ 8.6% |
| Stocks and contracts in progress3 | €424 | €1,826 | €2,222 | €3,854 | €5,440 | ▲ 41.1% |
| Stocks30/36 | €424 | €1,826 | €2,222 | €3,854 | €5,440 | ▲ 41.1% |
| Amounts receivable within one year40/41 | - | €386 | €6,326 | €657 | €2,443 | ▲ 272% |
| Trade receivables40 | - | €375 | - | €372 | €2,443 | ▲ 557% |
| Other amounts receivable41 | - | €11 | €6,326 | €285 | - | - |
| Cash at bank and in hand54/58 | €11,230 | €13,688 | €16,786 | €9,596 | €11,969 | ▲ 24.7% |
| Deferred charges and accrued income490/1 | €2,189 | €5,083 | €16,887 | €9,966 | €6,305 | ▼ 36.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €47,666 | €55,129 | €73,511 | €47,699 | €42,114 | ▼ 11.7% |
| Equity10/15 | -€52,542 | -€44,906 | -€49,787 | -€71,062 | -€64,321 | ▲ 9.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€71,142 | -€63,506 | -€68,387 | -€89,662 | -€82,921 | ▲ 7.5% |
| Amounts payable17/49 | €100,208 | €100,035 | €123,298 | €118,761 | €106,435 | ▼ 10.4% |
| Amounts payable after more than one year17 | - | €50,000 | €50,000 | €80,000 | €80,000 | = |
| Financial debts170/4 | - | €50,000 | €50,000 | €80,000 | €80,000 | = |
| Amounts payable within one year42/48 | €95,201 | €50,035 | €73,298 | €36,261 | €26,435 | ▼ 27.1% |
| Financial debts43 | €90 | €0 | €1,479 | €326 | €326 | = |
| Credit institutions430/8 | €90 | €0 | €1,479 | €326 | €326 | = |
| Trade debts44 | €3,242 | €7,906 | €10,680 | €9,457 | €11,759 | ▲ 24.3% |
| Suppliers440/4 | €3,242 | €7,906 | €10,680 | €9,457 | €11,759 | ▲ 24.3% |
| Advances received on contracts in progress46 | €235 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €337 | €4,672 | €5,705 | €2,595 | €4,066 | ▲ 56.6% |
| Taxes450/3 | €337 | €3,215 | €3,277 | €121 | €2,040 | ▲ 1,584% |
| Remuneration and social security454/9 | - | €1,457 | €2,429 | €2,474 | €2,025 | ▼ 18.1% |
| Other amounts payable47/48 | €91,297 | €37,457 | €55,434 | €23,882 | €10,284 | ▼ 56.9% |
| Accrued charges and deferred income492/3 | €5,007 | - | - | €2,500 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,081 | €7,636 | -€4,881 | -€21,275 | €6,741 | ▲ 132% |
| + Depreciation and write-downs630 | €4,486 | €7,198 | €8,371 | €7,666 | €7,666 | = |
| Operating cash flow (approximation) | €14,568 | €14,834 | €3,490 | -€13,609 | €14,407 | ▲ 206% |
| Investment in fixed assets (approximation) | - | -€7,521 | -€5,516 | €0 | €0 | - |
| Change in cash | - | €2,457 | €3,098 | -€7,189 | €2,372 | ▲ 133% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €6,741
Net result €6,741 after 2 loss-making years.
07-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 68 days late
2024
31-12
Financial
Weakest financial yearnet -€21,275
Net result drops to -€21,275, the lowest in the series; recovery starts the following year.
01-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 62 days late
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 66 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €10,081
Net result €10,081 after 3 loss-making years.
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 55 days late
2020
04-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 4 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2016
23-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 54 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2008
Ground area
247 m²
Building footprint
71 m²
Volume, LiDAR
636 m³
Parcel 62804C0424/00A003, Wallonia · tallest building 13.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Avenue de l'Observatoire 2a, 4000 Liège
since 20082.178.503.895
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62804C0424/00A003 | Wallonia | 247 m² | 1 · 71 m² | 13.6 m · 3 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 733 companies in sector 55209 we hold annual accounts for 208. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-02-2008
Fiscal year end31-12
Activities, NACEBEL 2025
55209Other holiday and short-stay accommodation
47120Other non-specialised retail sale
47512Retail sale of household textiles and bedding
55203Holiday cottages, homes and apartments
56210Event catering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0896008695
Also
9925:BE0896008695
Registered
05-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.