D & W PROJECTS
ActiveSummary
D & W PROJECTS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €227k and a net result of €56k. Equity is shrinking by ~12% per year across the filed fiscal years. Its solvency ranks better than 59% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+4
Solvency66▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity short (current ratio 0.65 against 0.69 in 2024; short-term debt: 18.1% and cash: 7.2% of total assets), and 58.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 · 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
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
41.1%
Return on assets
10.2%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-11-2025, 65 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
65 d early
2024
44 d early
2023
36 d early
2022
127 d early
2021
21 d early
2020
51 d early
2019
141 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€227k▲ 2.8%
2024 · €220k
2019: €545khighest in 7 years
2020: €505k▼ -7.3% vs 2019
2021: €466k▼ -7.7% vs 2020
2022: €515k▲ +10.5% vs 2021
2023: €243k▼ -52.8% vs 2022
2024: €220k▼ -9.3% vs 2023lowest in 7 years
2025: €227k▲ +2.8% vs 2024
2019 → 2025
Total assets
€552k▼ 4.3%
2024 · €576k
2019: €645k
2020: €619k▼ -4.1% vs 2019
2021: €618k▼ -0.1% vs 2020
2022: €659k▲ +6.6% vs 2021highest in 7 years
2023: €577k▼ -12.4% vs 2022
2024: €576k▼ -0.2% vs 2023
2025: €552k▼ -4.3% vs 2024lowest in 7 years
2019 → 2025
Net result
€56k▲ 46.2%
2024 · €38k
2019: €13k
2020: €-40k▼ -410% vs 2019lowest in 7 years
2021: €-39k▲ +2.1% vs 2020
2022: €49k▲ +225% vs 2021
2023: €28k▼ -42.6% vs 2022
2024: €38k▲ +36.6% vs 2023
2025: €56k▲ +46.2% vs 2024highest in 7 years
2019 → 2025
Working capital
€-35k▼ 14.0%
2024 · €-31k
2019: €92k
2020: €90k▼ -2.9% vs 2019
2021: €99k▲ +10.2% vs 2020
2022: €184k▲ +86.3% vs 2021highest in 7 years
2023: €-167k▼ -191% vs 2022lowest in 7 years
2024: €-31k▲ +81.6% vs 2023
2025: €-35k▼ -14.0% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€466k-€515k▲ 10.5%€243k▼ 52.8%€220k▼ 9.3%€227k▲ 2.8%
2021: €466k
2022: €515k▲ +10.5% vs 2021highest in 5 years
2023: €243k▼ -52.8% vs 2022
2024: €220k▼ -9.3% vs 2023lowest in 5 years
2025: €227k▲ +2.8% vs 2024
Operating result€-34k-€54k€42k▼ 23.4%€49k▲ 16.7%€84k▲ 72.0%
2021: €-34klowest in 5 years
2022: €54k▲ +260% vs 2021
2023: €42k▼ -23.4% vs 2022
2024: €49k▲ +16.7% vs 2023
2025: €84k▲ +72.0% vs 2024highest in 5 years
Net result€-39k-€49k€28k▼ 42.6%€38k▲ 36.6%€56k▲ 46.2%
2021: €-39klowest in 5 years
2022: €49k▲ +225% vs 2021
2023: €28k▼ -42.6% vs 2022
2024: €38k▲ +36.6% vs 2023
2025: €56k▲ +46.2% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 72% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €552k
Fixed assets
€487k ▼ 3.9%
Current assets
€65k ▼ 7.2%
Equity and liabilities €552k
Equity
€227k ▲ 2.8%
Debt
€325k ▼ 8.6%
Debt's share of the balance-sheet total falls from 61.7% to 58.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€103k▲
2024 · €83k
Cash flow
€76k▲
2024 · €73k
Current ratio
0.65▼
2024 · 0.69
Debt to equity
1.43▼
2024 · 1.61
ROE
24.8%▲
2024 · 17.4%
ROA
10.2%▲
2024 · 6.7%
Interest coverage
9.64▲
2024 · 6.17
Debt ≤ 1 year
€100k▼
2024 · €100k
Debt > 1 year
€225k▼
2024 · €255k
Income taxes
€17k▲
2024 · €-3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€576k€552k▼
Fixed assets21/28€507k€487k▼
Tangible fixed assets22/27€507k€487k▼
Land and buildings22€420k€416k▼
Plant, machinery and equipment23€87k€71k▼
Current assets29/58€70k€65k▼
Amounts receivable after more than one year29€10k€10k=
Trade receivables290-€10k
Other amounts receivable291€10k-
Amounts receivable within one year40/41€41k€15k▼
Trade receivables40€6k€15k▲
Other amounts receivable41€36k-
Cash at bank and in hand54/58€19k€40k▲
Equity and liabilities
Total equity and liabilities10/49€576k€552k▼
Equity10/15€220k€227k▲
Contributions10/11€70k€70k=
Reserves13€150k€156k▲
Tax-exempt reserves132€5k€11k▲
Distributable reserves133€145k€145k=
Profit (loss) carried forward14€149€730▲
Amounts payable17/49€356k€325k▼
Amounts payable after more than one year17€255k€225k▼
Financial debts170/4€255k€225k▼
Amounts payable within one year42/48€100k€100k▼
Current portion of amounts payable after more than one year42€30k€30k=
Trade debts44-€587
Suppliers440/4-€587
Taxes, remuneration and social security45€4k€14k▲
Taxes450/3€4k€14k▲
Other amounts payable47/48€66k€55k▼
Accrued charges and deferred income492/3€387€399▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€20k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€14k-
Other operating charges640/8€7k€13k▲
Gross operating margin9900€104k€116k▲
Operating profit (loss)9901€49k€84k▲
Financial charges65/66B€14k€11k▼
Recurring financial charges65€14k€11k▼
Profit (loss) for the period before taxes9903€35k€73k▲
Income taxes67/77€-3k€17k▲
Profit (loss) for the period9904€38k€56k▲
Transfer to tax-exempt reserves689€5k€6k▲
Profit (loss) for the period to be appropriated9905€33k€51k▲
Appropriation of the result
Profit (loss) to be appropriated9906€61k€51k▼
Profit (loss) brought forward from the previous period14P€28k€149▼
Profit to be distributed694/7€61k€50k▼
Return on contributions (dividend)694€61k€50k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37k | €37k | €36k | €35k | €20k | ▼ 43.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €14k | - | - |
| Other operating charges640/8 | - | €11k | €12k | €7k | €13k | ▲ 86.7% |
| Gross operating margin9900 | €14k | €102k | €90k | €104k | €116k | ▲ 11.8% |
| Operating profit (loss)9901 | €-34k | €54k | €42k | €49k | €84k | ▲ 72.0% |
| Financial income75/76B | - | €60 | - | - | - | - |
| Recurring financial income75 | €393 | €60 | - | - | - | - |
| Financial charges65/66B | - | €6k | €5k | €14k | €11k | ▼ 20.8% |
| Recurring financial charges65 | €6k | €6k | €5k | €14k | €11k | ▼ 20.8% |
| Profit (loss) for the period before taxes9903 | €-39k | €49k | €37k | €35k | €73k | ▲ 108% |
| Income taxes67/77 | - | - | €9k | €-3k | €17k | ▲ 616% |
| Profit (loss) for the period9904 | €-39k | €49k | €28k | €38k | €56k | ▲ 46.2% |
| Transfer to tax-exempt reserves689 | - | - | €160 | €5k | €6k | ▲ 6.6% |
| Profit (loss) for the period to be appropriated9905 | €-39k | €49k | €28k | €33k | €51k | ▲ 52.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €618k | €659k | €577k | €576k | €552k | ▼ 4.3% |
| Fixed assets21/28 | €474k | €438k | €429k | €507k | €487k | ▼ 3.9% |
| Tangible fixed assets22/27 | €474k | €438k | €429k | €507k | €487k | ▼ 3.9% |
| Land and buildings22 | - | €438k | €402k | €420k | €416k | ▼ 0.9% |
| Plant, machinery and equipment23 | - | €0 | €27k | €87k | €71k | ▼ 18.2% |
| Current assets29/58 | €144k | €221k | €149k | €70k | €65k | ▼ 7.2% |
| Amounts receivable after more than one year29 | - | - | €100k | €10k | €10k | = |
| Trade receivables290 | - | - | - | - | €10k | - |
| Other amounts receivable291 | - | - | €100k | €10k | - | - |
| Amounts receivable within one year40/41 | €8k | €9k | €18k | €41k | €15k | ▼ 63.3% |
| Trade receivables40 | - | €9k | €18k | €6k | €15k | ▲ 172% |
| Other amounts receivable41 | - | €57 | €13 | €36k | - | - |
| Cash at bank and in hand54/58 | €136k | €212k | €31k | €19k | €40k | ▲ 113% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €618k | €659k | €577k | €576k | €552k | ▼ 4.3% |
| Equity10/15 | €466k | €515k | €243k | €220k | €227k | ▲ 2.8% |
| Contributions10/11 | - | €70k | €70k | €70k | €70k | = |
| Reserves13 | €396k | €445k | €145k | €150k | €156k | ▲ 3.7% |
| Non-distributable reserves130/1 | - | €7k | - | - | - | - |
| Reserves not available under the articles1311 | - | €7k | - | - | - | - |
| Tax-exempt reserves132 | - | - | €160 | €5k | €11k | ▲ 103% |
| Distributable reserves133 | - | €438k | €145k | €145k | €145k | = |
| Profit (loss) carried forward14 | - | - | €28k | €149 | €730 | ▲ 390% |
| Amounts payable17/49 | €152k | €144k | €334k | €356k | €325k | ▼ 8.6% |
| Amounts payable after more than one year17 | €85k | €85k | - | €255k | €225k | ▼ 11.8% |
| Financial debts170/4 | - | €85k | - | €255k | €225k | ▼ 11.8% |
| Amounts payable within one year42/48 | €45k | €37k | €316k | €100k | €100k | ▼ 0.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €30k | €30k | = |
| Financial debts43 | - | - | €216k | - | - | - |
| Credit institutions430/8 | - | - | €216k | - | - | - |
| Trade debts44 | €5k | €793 | - | - | €587 | - |
| Suppliers440/4 | - | €793 | - | - | €587 | - |
| Taxes, remuneration and social security45 | - | €6k | €5k | €4k | €14k | ▲ 221% |
| Taxes450/3 | - | €6k | €5k | €4k | €14k | ▲ 221% |
| Other amounts payable47/48 | - | €30k | €95k | €66k | €55k | ▼ 16.6% |
| Accrued charges and deferred income492/3 | - | €22k | €18k | €387 | €399 | ▲ 3.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-39k | €49k | €28k | €38k | €56k | ▲ 46.2% |
| + Depreciation and write-downs630 | €37k | €37k | €36k | €35k | €20k | ▼ 43.7% |
| Operating cash flow (approximation) | €-2k | €86k | €64k | €73k | €76k | ▲ 3.5% |
| Investment in fixed assets (approximation) | - | €0 | €-27k | €-113k | €0 | ▲ 100% |
| Change in cash | - | €76k | €-181k | €-12k | €21k | ▲ 269% |
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
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial
Highest result since 2019net €56k ▲46.2%
Operating result €84k, net result €56k, both a record.
2024
18-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
26-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €49k
Net result €49k after 2 loss-making years.
30-06
Financial
Equity above €500kEq €515k ▲10.5%
Equity rises from €466k to €515k.
10-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
11-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Weakest financial yearnet €-40k
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
2019
12-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
08-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
20-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
4 acts for this company are 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, Temse · 1 establishment unit since 2003
Ground area
9,488 m²
Building footprint
3,188 m²
Volume, LiDAR
395 m³
2 parcels, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
D & W Projects BV
since 20032.131.629.537
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46025B0478/00D000 | Flanders | 9,320 m² | 1 · 3,143 m² | - |
| 46025B0446/00R000 | Flanders | 168 m² | 1 · 44 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
IMMO NEIRYNCK POL
BE 0563.951.367
Genk · Eq €226,492
IMMO ANS
BE 0543.939.277
Neupré · Eq €226,782
Z-INVEST
BE 0837.805.331
Liedekerke · Eq €225,954
Immo Terroir
BE 0890.492.959
Antwerpen · Eq €227,351
Aelterman
BE 0446.570.974
Gent · Eq €227,391
Of 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,866 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded27-11-2001
Fiscal year end30-06
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.