DataProjeX
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00493880.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 10 filings
Turnover
€39.9m▼ 21.5%
2024 · €50.8m
EBIT margin
4.4%▲ 2.3pp
2024 · 2.1%
Net result
€1.4m▲ 81.5%
2024 · €773,797
Working capital
€180,880
2024 · -€175,626
In the rankings
#2 company by total assets in Enghien, Construction sector#2 company by equity in Enghien, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€39.9m
▼ 21.5%
2025
20182025
Operating result
€1.8m
▲ 61.7%
2025
20182025
Net result
€1.4m
▲ 81.5%
2025
highest quarter of the sector
20182025
EBIT margin
4.4%
▲ 2.3pp
2025
20182025
Equity
€1.0m
▲ 62.9%
2025
middle half of the sector
20182025
Total assets
€10.5m
▼ 49.9%
2025
highest quarter of the sector
20182025
Debt
€9.4m
▼ 53.5%
2025
20182025
Working capital
€180,880
2025
middle half of the sector
20182025
Solvency
10.0%
▲ 6.9pp
2025
lowest quarter of the sector
20182025
Current ratio
1.02
▲ 0.03
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
13.4%
▲ 9.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
6
=
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.5m-€0.5m▲ 13.5%€0.6m▲ 6.7%€0.6m▲ 1.8%€0.6m▼ 1.1%€5.5m▲ 869%€50.8m▲ 832%€39.9m▼ 21.5%
Operating result€0.01m-€0.01m▼ 13.7%€0.01m▲ 4.1%€0.02m▲ 39.1%€0.01m▼ 23.6%€0.3m▲ 26×€1.1m▲ 267%€1.8m▲ 61.7%
Net result€0.003m-€0.004m▲ 47.2%€0.005mwithin the sector's middle half▲ 23.8%€0.005mwithin the sector's middle half▲ 11.4%€0.004mwithin the sector's middle half▼ 24.7%€0.2mabove the sector's middle half▲ 61×€0.8m▲ 230%€1.4mabove the sector's middle half▲ 81.5%
EBIT margin2.6%-2.0%▼ 0.6pp1.9%=2.6%▲ 0.7pp2.0%▼ 0.6pp5.5%▲ 3.4pp2.1%▼ 3.3pp4.4%▲ 2.3pp
Equity€0.02m-€0.02m▲ 22.5%€0.02mwithin the sector's middle half▲ 22.7%€0.03mwithin the sector's middle half▲ 20.6%€0.03mwithin the sector's middle half▲ 12.9%€0.3mwithin the sector's middle half▲ 693%€0.6m▲ 139%€1.0mwithin the sector's middle half▲ 62.9%
Total assets€0.06m-€0.1m▲ 97.5%€1.1mabove the sector's middle half▲ 852%€1.2mabove the sector's middle half▲ 3.9%€1.2mabove the sector's middle half▲ 2.0%€11.5mabove the sector's middle half▲ 880%€20.9m▲ 81.6%€10.5mabove the sector's middle half▼ 49.9%
Debt€0.04m-€0.1m▲ 127%€1.1m▲ 11×€1.1m▲ 3.5%€1.1m▲ 1.7%€11.3m▲ 886%€20.3m▲ 80.2%€9.4m▼ 53.5%
Working capital€0.004m--€0.05m-€0.04mbelow the sector's middle half▲ 24.8%-€0.4mbelow the sector's middle half▼ 1,011%-€0.5mbelow the sector's middle half▼ 14.5%-€0.6mbelow the sector's middle half▼ 13.7%-€0.2m▲ 68.5%€0.2mwithin the sector's middle half
Solvency28.1%-17.4%▼ 10.7pp2.2%below the sector's middle half▼ 15.2pp2.6%below the sector's middle half▲ 0.4pp2.9%below the sector's middle half▲ 0.3pp2.3%below the sector's middle half▼ 0.5pp3.1%▲ 0.7pp10.0%below the sector's middle half▲ 6.9pp
Current ratio1.09-0.47▼ 0.620.96below the sector's middle half▲ 0.500.62below the sector's middle half▼ 0.350.56below the sector's middle half▼ 0.060.95below the sector's middle half▲ 0.390.99▲ 0.041.02below the sector's middle half▲ 0.03
Return on assets (ROA)4.3%-3.2%▼ 1.1pp0.4%below the sector's middle half▼ 2.8pp0.4%below the sector's middle half=0.3%below the sector's middle half▼ 0.1pp2.0%within the sector's middle half▲ 1.7pp3.7%▲ 1.7pp13.4%above the sector's middle half▲ 9.7pp
Staff (FTE)3-3=4above the sector's middle half▲ 33.3%4=3.6▼ 10.0%3below the sector's middle half▼ 16.7%6▲ 100%6within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 62% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Large changes and their cause
- 2023 Turnover +869%, Net result +5,978% on 2022. The accounts now follow the full format, last year the micro format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.5m
Fixed assets
€865,629 ▲ 4.4%
Current assets
€9.6m ▼ 52.2%
Equity and liabilities €10.5m
Equity
€1.0m ▲ 62.9%
Debt
€9.4m ▼ 53.5%
Debt's share of the balance-sheet total falls from 96.9% to 90.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.8m▲
2024 · €1.2m
Cash flow
€1.5m▲
2024 · €841,768
Debt to equity
9.02▼
2024 · 31.60
ROE
134.2%▲
2024 · 120.5%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€9.4m▼
2024 · €20.3m
Income taxes
€475,277▲
2024 · €323,048
Customer credit
47 days▼
2024 · 82 days
Supplier credit
80 days▼
2024 · 137 days
Staff costs
€971,026▲
2024 · €862,922
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 6 | 6 | 6 |
| full-time | 4 | 4 | 6 | 6 | 6 |
| part-time | 0 | 0 | - | - | 0 |
| in full-time equivalents | 4 | 4 | 6 | 6 | 6 |
| Average over the year, in full-time equivalents | 4 | 3.6 | 3 | 6 | 6 |
| On a permanent contract | 4 | 4 | 6 | 6 | 6 |
| Joined | - | - | 4 | 1 | 3 |
| Left | - | - | 1 | 1 | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €426,182 | €132,971 | €348,558 | €37,264 | €134,040 |
| Depreciation and write-downs of the year | €23,668 | €29,710 | €46,606 | €67,971 | €58,438 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Other work by the auditor | - | - | - | - | €840 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | - | - | €48.8m | €37.7m | ▼ 22.7% |
| Turnover70 | €0.5m | €0.5m | €0.6m | €0.6m | €0.6m | €5.5m | €50.8m | €39.9m | ▼ 21.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | - | - | -€2.1m | -€2.2m | ▼ 6.1% |
| Other operating income74 | - | - | - | - | - | - | €0.04m | €0.03m | ▼ 22.7% |
| Operating charges60/66A | - | - | - | - | - | - | €47.7m | €36.0m | ▼ 24.6% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.1m | €0.2m | €4.8m | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | - | - | €45.3m | €33.4m | ▼ 26.2% |
| Purchases600/8 | - | - | - | - | - | - | €45.3m | €33.4m | ▼ 26.2% |
| Services and other goods61 | - | - | - | - | - | - | €1.5m | €1.5m | ▲ 1.7% |
| Remuneration, social security and pensions62 | - | - | - | €0.4m | €0.3m | €0.3m | €0.9m | €1.0m | ▲ 12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.004m | €0.007m | €0.02m | €0.02m | €0.03m | €0.05m | €0.07m | €0.06m | ▼ 14.0% |
| Other operating charges640/8 | - | - | - | €0.004m | €332 | €0.007m | €0.003m | €0.01m | ▲ 226% |
| Gross operating margin9900 | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.7m | - | - | - |
| Operating profit (loss)9901 | €0.01m | €0.01m | €0.01m | €0.02m | €0.01m | €0.3m | €1.1m | €1.8m | ▲ 61.7% |
| Financial income75/76B | - | - | - | - | - | €0.005m | €0.03m | €0.1m | ▲ 322% |
| Recurring financial income75 | - | - | - | - | - | €0.005m | €0.03m | €0.1m | ▲ 322% |
| Income from current assets751 | - | - | - | - | - | - | €0.03m | €0.06m | ▲ 85.3% |
| Other financial income752/9 | - | - | - | - | - | - | €452 | €0.07m | ▲ 161× |
| Financial charges65/66B | - | - | - | €116 | €0.001m | €0.002m | €0.02m | €0.01m | ▼ 50.5% |
| Recurring financial charges65 | €0.003m | €0.002m | €98 | €116 | €0.001m | €0.002m | €0.02m | €0.01m | ▼ 50.5% |
| Debt charges650 | - | - | - | - | - | - | €0.006m | €0.008m | ▲ 21.7% |
| Other financial charges652/9 | - | - | - | - | - | - | €0.02m | €0.004m | ▼ 76.3% |
| Profit (loss) for the period before taxes9903 | €0.009m | €0.009m | €0.01m | €0.01m | €0.01m | €0.3m | €1.1m | €1.9m | ▲ 71.3% |
| Income taxes67/77 | €0.006m | €0.005m | €0.006m | €0.01m | €0.007m | €0.07m | €0.3m | €0.5m | ▲ 47.1% |
| Taxes670/3 | - | - | - | - | - | - | €0.3m | €0.5m | ▲ 47.1% |
| Profit (loss) for the period9904 | €0.003m | €0.004m | €0.005m | €0.005m | €0.004m | €0.2m | €0.8m | €1.4m | ▲ 81.5% |
| Profit (loss) for the period to be appropriated9905 | €0.003m | €0.004m | €0.005m | €0.005m | €0.004m | €0.2m | €0.8m | €1.4m | ▲ 81.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.06m | €0.1m | €1.1m | €1.2m | €1.2m | €11.5m | €20.9m | €10.5m | ▼ 49.9% |
| Fixed assets21/28 | €0.01m | €0.07m | €0.06m | €0.5m | €0.6m | €0.8m | €0.8m | €0.9m | ▲ 4.4% |
| Tangible fixed assets22/27 | €0.01m | €0.07m | €0.06m | €0.5m | €0.6m | €0.8m | €0.8m | €0.9m | ▲ 5.9% |
| Land and buildings22 | - | - | - | - | €0.5m | €0.7m | €0.6m | €0.6m | ▼ 3.2% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | - | €0.04m | - |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.06m | €0.1m | €0.1m | €0.2m | ▲ 28.7% |
| Leasing and similar rights25 | - | - | - | - | €0.04m | €0.03m | €0.02m | €0.01m | ▼ 38.7% |
| Assets under construction and advance payments27 | - | - | - | €0.4m | - | - | - | - | - |
| Financial fixed assets28 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.02m | €0.004m | ▼ 76.2% |
| Other financial fixed assets284/8 | - | - | - | - | - | - | €0.02m | €0.004m | ▼ 76.2% |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | - | - | €0.02m | €0.004m | ▼ 76.2% |
| Current assets29/58 | €0.05m | €0.04m | €1.0m | €0.7m | €0.6m | €10.7m | €20.1m | €9.6m | ▼ 52.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | €4.3m | €2.2m | - | - |
| Contracts in progress37 | - | - | - | - | - | €4.3m | €2.2m | - | - |
| Amounts receivable within one year40/41 | €0.03m | €0.004m | €0.6m | €0.6m | €0.6m | €2.2m | €15.3m | €6.8m | ▼ 55.6% |
| Trade receivables40 | - | - | - | €0.6m | €0.6m | €1.7m | €11.5m | €5.1m | ▼ 55.6% |
| Other amounts receivable41 | - | - | - | - | €0.005m | €0.5m | €3.9m | €1.7m | ▼ 55.4% |
| Cash at bank and in hand54/58 | €0.01m | €0.04m | €0.4m | €0.09m | €0.04m | €4.2m | €2.6m | €2.8m | ▲ 9.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.002m | €0.008m | €0.009m | ▲ 5.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.06m | €0.1m | €1.1m | €1.2m | €1.2m | €11.5m | €20.9m | €10.5m | ▼ 49.9% |
| Equity10/15 | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.3m | €0.6m | €1.0m | ▲ 62.9% |
| Contributions10/11 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.5m | ▲ 40× |
| Capital10 | - | - | - | €0.01m | €0.01m | - | - | - | - |
| Issued capital100 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Uncalled capital101 | - | - | - | €0.006m | €0.006m | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €0.01m | - | - | - |
| Other1109/19 | - | - | - | - | - | €0.01m | - | - | - |
| Reserves13 | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.05m | ▲ 27× |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.05m | ▲ 27× |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €0.002m | €0.002m | €0.05m | ▲ 27× |
| Profit (loss) carried forward14 | €0.004m | €0.008m | €0.01m | €0.02m | €0.02m | €0.3m | €0.6m | €0.5m | ▼ 21.0% |
| Amounts payable17/49 | €0.04m | €0.1m | €1.1m | €1.1m | €1.1m | €11.3m | €20.3m | €9.4m | ▼ 53.5% |
| Amounts payable after more than one year17 | - | - | - | - | €0.03m | €0.02m | €0.01m | - | - |
| Financial debts170/4 | - | - | - | - | €0.03m | €0.02m | €0.01m | - | - |
| Leasing and similar obligations172 | - | - | - | - | - | - | €0.01m | - | - |
| Amounts payable within one year42/48 | €0.04m | €0.1m | €1.1m | €1.1m | €1.1m | €11.2m | €20.3m | €9.4m | ▼ 53.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 3.1% |
| Trade debts44 | - | €0.03m | €0.001m | €0.04m | €0.02m | €1.5m | €17.0m | €7.3m | ▼ 57.1% |
| Suppliers440/4 | - | - | - | €0.04m | €0.02m | €1.5m | €17.0m | €7.3m | ▼ 57.1% |
| Advances received on contracts in progress46 | - | - | - | €0.005m | €0.01m | €8.6m | €2.1m | €1.6m | ▼ 23.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.03m | €0.8m | €0.3m | €0.5m | ▲ 73.9% |
| Taxes450/3 | - | - | - | €0.02m | €0.008m | €0.7m | €0.2m | €0.4m | ▲ 120% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.02m | €0.05m | €0.1m | €0.1m | ▲ 4.5% |
| Other amounts payable47/48 | - | - | - | €1.0m | €1.0m | €0.3m | €0.9m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.003m | €0.004m | €0.005m | €0.005m | €0.004m | €0.2m | €0.8m | €1.4m | ▲ 81.5% |
| + Depreciation and write-downs630 | €0.004m | €0.007m | €0.02m | €0.02m | €0.03m | €0.05m | €0.07m | €0.06m | ▼ 14.0% |
| Operating cash flow (approximation) | €0.006m | €0.01m | €0.02m | €0.03m | €0.03m | €0.3m | €0.8m | €1.5m | ▲ 73.7% |
| Investment in fixed assets (approximation) | - | -€0.07m | -€0.01m | -€0.4m | -€0.1m | -€0.3m | -€0.05m | -€0.09m | ▼ 92.3% |
| Change in cash | - | €0.03m | €0.4m | -€0.3m | -€0.05m | €4.1m | -€1.6m | €0.2m | - |
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, 1,325 companies had the same profile as DataProjeX has now. Two years later, 95.2% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
95.2%
was still going
3.2%
stopped otherwise
1.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DataProjeX itself: 0.5% 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 1,325 companies, not a prediction for DataProjeX. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00493880 | |
| 31-12-2024 | unclassified schema | 29-08-2025 | 2025-00463988 | |
| 31-12-2023 | full format | 04-07-2024 | 2024-00208180 | |
| 31-12-2022 | micro format | 27-08-2023 | 2023-00371961 | |
| 31-12-2021 | micro format | 29-11-2022 | 2022-20529028 | |
| 31-12-2020 | micro format | 30-09-2021 | 2021-70900001 | |
| 31-12-2019 | micro format | 30-09-2021 | 2021-70800599 | |
| 31-12-2018 | micro format | 30-09-2019 | 2019-67800338 | |
| 31-12-2017 | micro format | 21-09-2018 | 2018-65000267 | |
| 31-12-2016 | micro format | 25-09-2017 | 2017-62900378 |