D4 Project
ActiveSummary
D4 Project has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19k and a net result of €26k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 29% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency53▼-18
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity tight (current ratio 1.33 against 1.79 in 2024; short-term debt: 71.8% and cash: 43.6% of total assets), and 71.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
28.2%
Return on assets
38.7%
Age of the figures
9 mo
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
17 d early
2023
40 d early
2022
6 d early
2021
24 d early
2020
39 d early
2019
42 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€19k▼ 32.9%
2024 · €28k
Total assets
€66k▲ 9.8%
2024 · €60k
Net result
€26k▼ 25.2%
2024 · €34k
Working capital
€15k▼ 39.0%
2024 · €25k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-2k▲ 2.6%€8k€17k▲ 101%€46k▲ 172%€34k▼ 26.5%
Net result€-68▲ 80.1%€6k€13k▲ 104%€34k▲ 169%€26k▼ 25.2%
Equity€17k▼ 0.4%€22k▲ 32.7%€6k▼ 71.9%€28k▲ 347%€19k▼ 32.9%
Total assets€17k▼ 4.8%€24k▲ 44.6%€35k▲ 46.2%€60k▲ 71.3%€66k▲ 9.8%
Debt€2k€29k▲ 1,369%€32k▲ 12.1%€47k▲ 46.4%
Working capital€15k€2k▼ 89.9%€25k▲ 1,571%€15k▼ 39.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 27% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €66k
Fixed assets
€3k ▲ 21.2%
Current assets
€63k ▲ 9.3%
Equity and liabilities €66k
Equity
€19k ▼ 32.9%
Debt
€47k ▲ 46.4%
Debt's share of the balance-sheet total rises from 53.8% to 71.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€35k▼
2024 · €48k
Cash flow
€27k▼
2024 · €36k
Current ratio
1.33▼
2024 · 1.79
Debt to equity
2.55▲
2024 · 1.17
ROE
137.2%▲
2024 · 123.1%
ROA
38.7%▼
2024 · 56.8%
Interest coverage
37.56▼
2024 · 138.97
Debt ≤ 1 year
€47k▲
2024 · €32k
Income taxes
€7k▼
2024 · €12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €2k | €3k | €2k | €2k | ▼ 25.7% |
| Other operating charges640/8 | - | €1k | €1k | €1k | €4k | ▲ 227% |
| Gross operating margin9900 | €-1k | €12k | €21k | €49k | €39k | ▼ 20.8% |
| Operating profit (loss)9901 | €-2k | €8k | €17k | €46k | €34k | ▼ 26.5% |
| Financial income75/76B | - | €0 | €0 | €0 | €20 | ▲ 97,500% |
| Recurring financial income75 | €2k | €0 | €0 | €0 | €20 | ▲ 97,500% |
| Financial charges65/66B | - | €42 | €52 | €347 | €945 | ▲ 172% |
| Recurring financial charges65 | - | €42 | €52 | €347 | €945 | ▲ 172% |
| Profit (loss) for the period before taxes9903 | €-68 | €8k | €17k | €46k | €33k | ▼ 28.0% |
| Income taxes67/77 | - | €2k | €4k | €12k | €7k | ▼ 36.0% |
| Profit (loss) for the period9904 | €-68 | €6k | €13k | €34k | €26k | ▼ 25.2% |
| Profit (loss) for the period to be appropriated9905 | €-68 | €6k | €13k | €34k | €26k | ▼ 25.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17k | €24k | €35k | €60k | €66k | ▲ 9.8% |
| Fixed assets21/28 | - | €7k | €5k | €3k | €3k | ▲ 21.2% |
| Tangible fixed assets22/27 | - | €7k | €5k | €3k | €3k | ▲ 21.2% |
| Plant, machinery and equipment23 | - | €1k | €1k | €2k | €1k | ▼ 38.6% |
| Furniture and vehicles24 | - | €6k | €3k | €247 | €2k | ▲ 585% |
| Current assets29/58 | €17k | €17k | €30k | €58k | €63k | ▲ 9.3% |
| Amounts receivable within one year40/41 | €17k | €7k | €6k | €9k | €34k | ▲ 272% |
| Trade receivables40 | - | - | €613 | €6k | €30k | ▲ 384% |
| Other amounts receivable41 | - | €7k | €5k | €3k | €3k | ▲ 15.1% |
| Cash at bank and in hand54/58 | - | €10k | €25k | €48k | €29k | ▼ 40.2% |
| Deferred charges and accrued income490/1 | - | - | - | €390 | €504 | ▲ 29.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17k | €24k | €35k | €60k | €66k | ▲ 9.8% |
| Equity10/15 | €17k | €22k | €6k | €28k | €19k | ▼ 32.9% |
| Contributions10/11 | - | €6k | €6k | €19k | €19k | = |
| Reserves13 | €887 | €16k | - | - | - | - |
| Non-distributable reserves130/1 | - | €887 | - | - | - | - |
| Reserves not available under the articles1311 | - | €887 | - | - | - | - |
| Distributable reserves133 | - | €15k | - | - | - | - |
| Profit (loss) carried forward14 | €10k | - | - | €9k | - | - |
| Amounts payable17/49 | - | €2k | €29k | €32k | €47k | ▲ 46.4% |
| Amounts payable within one year42/48 | - | €2k | €29k | €32k | €47k | ▲ 47.5% |
| Trade debts44 | - | €1k | €300 | €445 | €3k | ▲ 568% |
| Suppliers440/4 | - | €1k | €300 | €445 | €3k | ▲ 568% |
| Taxes, remuneration and social security45 | - | €955 | €4k | €4k | €4k | ▲ 0.1% |
| Taxes450/3 | - | €395 | €4k | €4k | €4k | ▲ 0.1% |
| Remuneration and social security454/9 | - | €560 | - | - | - | - |
| Other amounts payable47/48 | - | - | €24k | €28k | €41k | ▲ 45.7% |
| Accrued charges and deferred income492/3 | - | - | - | €228 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-68 | €6k | €13k | €34k | €26k | ▼ 25.2% |
| + Depreciation and write-downs630 | - | €2k | €3k | €2k | €2k | ▼ 25.7% |
| Operating cash flow (approximation) | €-68 | €9k | €16k | €36k | €27k | ▼ 25.3% |
| Investment in fixed assets (approximation) | - | - | €-757 | €-30 | €-2k | ▼ 6,966% |
| Change in cash | - | - | €15k | €23k | €-19k | ▼ 183% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2019net €34k ▲169%
Operating result €46k, net result €34k, both a record.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
07-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
23-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Weakest financial yearnet €-342
Net result drops to €-342, the lowest in the series; recovery starts the following year.
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
26-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 118 days late
2017
17-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Haacht · 1 establishment unit since 2015
Ground area
638 m²
Building footprint
128 m²
Volume, LiDAR
632 m³
Parcel 24033C0164/00T000, Flanders · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
D4Project
since 20152.244.790.331
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24033C0164/00T000 | Flanders | 638 m² | 1 · 128 m² | 6.7 m · 2 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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Of 7,044 companies in sector 43221 we hold annual accounts for 3,472. 2,385 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
Founded05-08-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43350Other building finishing work
Scores and ratios are computed by Checked and are not a credit decision.