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D.C. Projects

Active Private limited companyfounded 2019active for 7 yearsWaterlelielaan 1, 9032 GhentKBO/BCE: BE 0732.961.395 subsidiary of Het Vroonhof
Part of the group Het Vroonhof 42 companies in 2 countries
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D.C. Projects
Financial year 2025
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Annual accounts 2025

abbreviated format, filed on 25-09-2026, 56 days late
Gross margin
-€17,379
▼ €12,688
Operating result
-€18,938
▼ €11,834
Loss
-€15,786
▼ €11,710
Working capital
€538,791
▲ 30.5%
Solvency
20.6%
▼ 34.5 percentage points
Current ratio
1.47
▼ 1.21

Turnover and EBIT margin are not published. The abbreviated format does not require them.

Balance sheet

balance sheet total €1.7m on 31-12-2025
What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Position in the sector

Compare with sector

Solvency20.6%

Higher than 40% of 11,288 companies in 2025.

Current ratio1.47

Higher than 59% of 10,839 companies in 2025.

Return on assets-0.9%

Higher than 30% of 11,173 companies in 2025.

D.C. Projects Middle half of the sector 80% of the sector Abbreviated accounts in real estate (NACE 68)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020
Balance sheet: assets
Total assets20/58 1.7m660,231518,002974,325626,159128,768
Fixed assets21/28 1818021,9023,001-177
Intangible fixed assets21 181331481631--
Tangible fixed assets22/27 -4711,4212,370-177
Plant, machinery and equipment23 -4711,4212,370--
Furniture and vehicles24 -----177
Current assets29/58 1.7m659,429516,100971,324626,159128,591
Stocks and contracts in progress3 1.2m389,309385,975882,411572,26685,945
Stocks30/36 1.2m389,309273,409850,891572,26685,945
Contracts in progress37 --112,56631,521--
Amounts receivable within one year40/41 263,250240,95444,48344,81732,66928,246
Trade receivables40 70,93011,3802,94241,81722710,100
Other amounts receivable41 192,320229,57441,5413,00032,44218,146
Cash at bank and in hand54/58 252,97725,13384,06833,71312,07911,490
Deferred charges and accrued income490/1 7,0714,0331,57410,3839,1452,910
Balance sheet: equity and liabilities
Total equity and liabilities10/49 1.7m660,231518,002974,325626,159128,768
Equity10/15 347,390363,176404,641155,18272,46280,066
Contributions10/11 100,000100,000100,000100,000100,000100,000
Reserves13 247,390263,176304,00055,000--
Tax-exempt reserves132 19,86419,86419,86419,864--
Distributable reserves133 227,526243,312284,13635,136--
Profit (loss) carried forward14 --641182-27,538-19,934
Amounts payable17/49 1.3m297,055113,361819,143553,69648,703
Amounts payable after more than one year17 175,00050,000----
Financial debts170/4 175,00050,000----
Amounts payable within one year42/48 1.2m246,564111,503811,507552,63048,679
Current portion of amounts payable after more than one year42 50,000-----
Financial debts43 776,943--459,408325,864-
Credit institutions430/8 776,943--459,408325,864-
Trade debts44 60,902206,56047,53349,26031,45923,679
Suppliers440/4 60,902206,56047,53349,26031,45923,679
Advances received on contracts in progress46 149,286---38,711-
Taxes, remuneration and social security45 47,41434,86659,97056,770--
Taxes450/3 47,41434,86659,97056,770--
Other amounts payable47/48 66,4785,1384,000246,068156,59525,000
Accrued charges and deferred income492/3 16,5824911,8587,6361,06624
Income statement
Gross operating margin9900 -17,379-4,691339,31990,198-15,810-18,786
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 6211,1001,100598-144
Other operating charges640/8 9381,3137214,677661934
Operating profit (loss)9901 -18,938-7,104337,49884,923-16,471-19,864
Financial income75/76B 7,0064,0081,0289,3708,927-
Recurring financial income75 7,0064,0081,0289,3708,927-
Financial charges65/66B 1,472980591795971
Recurring financial charges65 1,472980591795971
Profit (loss) for the period before taxes9903 -13,404-4,076337,93594,214-7,603-19,934
Income taxes67/77 2,382-88,47611,494--
Profit (loss) for the period9904 -15,786-4,076249,45982,720-7,603-19,934
Transfer to tax-exempt reserves689 ---19,864--
Profit (loss) for the period to be appropriated9905 -15,786-4,076249,45962,856-7,603-19,934
Appropriation of the result
Profit (loss) to be appropriated9906 -15,786-3,824249,64135,318-27,538-19,934
Profit (loss) brought forward from the previous period14P -252182-27,538-19,934-
Transfer from equity791/2 15,7863,824----
Transfer to equity691/2 --249,00035,136--
To other reserves6921 --249,00035,136--
Document PDFPDFPDFPDFPDFPDF

The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 25-09-2026.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 56 days after the deadline. Filed on 25 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00538110.

Financial year Type Filed Reference Document
31-12-2025 abbreviated format 25-09-2026 2026-00538110 PDF
31-12-2024 abbreviated format 09-10-2025 2025-00539560 PDF
31-12-2023 abbreviated format 01-10-2025 2025-00525811 PDF
31-12-2022 abbreviated format 28-09-2023 2023-00466654 PDF
31-12-2021 abbreviated format 29-08-2022 2022-20382717 PDF
31-12-2020 abbreviated format 29-09-2021 2021-69500080 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020
EBITDA -18,317-6,004338,59885,520--19,720
Cash flow -15,165-2,976250,55983,317--19,790
Investment in fixed assets (approximation) 0003,599-321
Change in cash 227,843-58,93550,35521,634590-
Working capital 538,791412,865404,597159,81773,52979,912
Solvency 20.6%55.0%78.1%15.9%11.6%62.2%
Current ratio 1.472.674.631.201.132.64
Quick ratio 0.451.101.170.110.100.88
Debt to equity 3.860.820.285.287.640.61
ROE -4.5%-1.1%61.6%53.3%-10.5%-24.9%
ROA -0.9%-0.6%48.2%8.5%-1.2%-15.5%
Interest coverage -12.44-6.12over 100over 100--

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Securities and guarantees

on own assets and for others
Item20252024202320222021
Debts secured on the company's own assets€776,943--€459,408€325,864
Mortgages, amount registered€27,500-€27,500€55,000€27,500
Mortgage mandates€2.1m-€1.3m€2.1m€852,500
Carrying value of the mortgaged assets€857,458-€217,143€831,391€436,640
Carrying value of the other pledged assets€271,257--€48,257-

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets---€2,849-
Intangible fixed assets---€750-
Depreciation and write-downs of the year€621€1,100€1,100€598-

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on D.C. Projects

The operating result for 2025 is a loss of €18,938, larger than the loss of €7,104 in 2024. It is the lowest result since 2020.

Debt's share of the balance-sheet total rises from 45.0% to 79.4%. Equity is lower and debt is higher.

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