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De Keyzer Projects

Active
Private limited companyfounded 199729 yrs activeIndustrielaan 55, 8930 Menen, BelgiumKBO/BCE: BE 0460.994.577
Summary

De Keyzer Projects has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €42,333 and a net result of €8,984. Equity is growing by ~55.6% per year across the filed fiscal years. Its solvency ranks better than 12% of 304 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability51▼-11
Solvency31▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.26 against 0.25 in 2023; short-term debt: 62.8% and cash: 3.2% of total assets), and 94.5% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 29 years 0 30 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more bankruptcies
← fewer bankruptcies more bankruptcies →
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 2024
Solvency, return and age of the figures
Solvency
5.5%
Return on assets
1.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 304 sector peers (2024).
NBB · sector comparison
Position among 304 sector peers
Solvency
better than 12%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-07-2025, 14 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
14 d early
2023
15 d early
2022
12 d early
2021
16 d early
2020
15 d early
2019
14 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 14 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

De Keyzer Projects was incorporated on 1 July 1997.1 Total assets fell from EUR 934,814 in 2018 to EUR 764,308 in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, abbreviated schema

Equity
€42,333▲ 26.9%
2023 · €33,349
Total assets
€764,308▼ 1.4%
2023 · €775,279
Net result
€8,984▼ 62.6%
2023 · €24,045
Working capital
-€353,487▼ 3.8%
2023 · -€340,706
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
Line20202021202220232024
Operating result€55,627▲ 207%€44,536▼ 19.9%€43,490▼ 2.3%€46,990▲ 8.0%€25,713▼ 45.3%
Net result€38,062▲ 26,357%€27,223▼ 28.5%€22,285▼ 18.1%€24,045▲ 7.9%€8,984▼ 62.6%
Equity-€40,204▲ 48.6%-€12,981▲ 67.7%€9,304€33,349▲ 258%€42,333▲ 26.9%
Total assets€928,318▼ 0.1%€949,753▲ 2.3%€902,130▼ 5.0%€775,279▼ 14.1%€764,308▼ 1.4%
Debt€968,521▼ 3.8%€962,733▼ 0.6%€892,826▼ 7.3%€741,929▼ 16.9%€721,974▼ 2.7%
Working capital-€346,063▲ 12.0%-€341,572▲ 1.3%-€342,019▼ 0.1%-€340,706▲ 0.4%-€353,487▼ 3.8%
Staff (FTE)0
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
€0€20,000€40,000€60,000Operating result 2020: €55,627€55,627Net result 2020: €38,062€38,062Operating result 2021: €44,536€44,536Net result 2021: €27,223€27,223Operating result 2022: €43,490€43,490Net result 2022: €22,285€22,285Operating result 2023: €46,990€46,990Net result 2023: €24,045€24,045Operating result 2024: €25,713€25,713Net result 2024: €8,984€8,98420202021202220232024€0€20,000€40,000Operating result 2022: €43,490€43,500Net result 2022: €22,285€22,300Operating result 2023: €46,990€47,000Net result 2023: €24,045€24,000Operating result 2024: €25,713€25,700Net result 2024: €8,984€8,980202220232024
The operating result falls in 2024; 2024 is 45% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €764,308
Fixed assets €637,899 ▼ 3.6%
Current assets €126,409 ▲ 11.4%
Equity and liabilities €764,308
Equity €42,333 ▲ 26.9%
Debt €721,974 ▼ 2.7%
Debt's share of the balance-sheet total falls from 95.7% to 94.5%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€49,647▼
2023 · €70,925
Cash flow
€32,919▼
2023 · €47,979
Current ratio
0.26▲
2023 · 0.25
Debt to equity
17.05▼
2023 · 22.25
ROE
21.2%▼
2023 · 72.1%
ROA
1.2%▼
2023 · 3.1%
Interest coverage
3.73▼
2023 · 4.75
Debt ≤ 1 year
€479,896▲
2023 · €454,152
Debt > 1 year
€241,111▼
2023 · €287,778
Income taxes
€3,412▼
2023 · €8,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,214 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 96% are still going.

  • Small
  • 20 years or older
  • solvency under 10%
  • a profit under 5% of the balance sheet
1.3% went bankrupt
2.6% stopped otherwise
96% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.6%
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 74% 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 1,214 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 43 lines
Balance sheet Code20232024
Assets
Total assets20/58€775,279€764,308▼
Fixed assets21/28€661,833€637,899▼
Tangible fixed assets22/27€661,833€637,899▼
Land and buildings22€661,833€637,899▼
Current assets29/58€113,445€126,409▲
Amounts receivable within one year40/41€3,812€101,845▲
Trade receivables40€3,812€0▼
Other amounts receivable41€0€101,845▲
Cash at bank and in hand54/58€109,634€24,563▼
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€775,279€764,308▼
Equity10/15€33,349€42,333▲
Contributions10/11€6,200€6,200=
Reserves13€54,988€54,988=
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€54,988€54,988=
Profit (loss) carried forward14-€27,839-€18,855▲
Amounts payable17/49€741,929€721,974▼
Amounts payable after more than one year17€287,778€241,111▼
Financial debts170/4€287,778€241,111▼
Amounts payable within one year42/48€454,152€479,896▲
Current portion of amounts payable after more than one year42€46,667€46,667=
Trade debts44€3,220€20,956▲
Suppliers440/4€3,220€20,956▲
Taxes, remuneration and social security45€2,000€2,012▲
Taxes450/3€2,000€2,012▲
Other amounts payable47/48€402,265€410,262▲
Accrued charges and deferred income492/3-€968
Income statement Code20232024
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23,934€23,934=
Other operating charges640/8€5,904€6,150▲
Gross operating margin9900€76,829€55,798▼
Operating profit (loss)9901€46,990€25,713▼
Financial charges65/66B€14,945€13,317▼
Recurring financial charges65€14,945€13,317▼
Profit (loss) for the period before taxes9903€32,045€12,396▼
Income taxes67/77€8,000€3,412▼
Profit (loss) for the period9904€24,045€8,984▼
Profit (loss) for the period to be appropriated9905€24,045€8,984▼
Appropriation of the result
Profit (loss) to be appropriated9906-€27,839-€18,855▲
Profit (loss) brought forward from the previous period14P-€51,884-€27,839▲
Social balance
Average headcount (FTE)90870.0-

The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Non-recurring operating income76A-€0€2,000€0--
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24,881€23,934€23,934€23,934€23,934=
Other operating charges640/8-€9,179€6,982€5,904€6,150▲ 4.2%
Gross operating margin9900€87,196€77,649€74,407€76,829€55,798▼ 27.4%
Operating profit (loss)9901€55,627€44,536€43,490€46,990€25,713▼ 45.3%
Recurring financial income75€0-----
Financial charges65/66B-€17,313€16,736€14,945€13,317▼ 10.9%
Recurring financial charges65€17,565€17,313€16,736€14,945€13,317▼ 10.9%
Profit (loss) for the period before taxes9903€38,062€27,223€26,755€32,045€12,396▼ 61.3%
Income taxes67/77--€4,470€8,000€3,412▼ 57.3%
Profit (loss) for the period9904€38,062€27,223€22,285€24,045€8,984▼ 62.6%
Profit (loss) for the period to be appropriated9905€38,062€27,223€22,285€24,045€8,984▼ 62.6%
Line20202021202220232024Change
Assets
Total assets20/58€928,318€949,753€902,130€775,279€764,308▼ 1.4%
Fixed assets21/28€733,636€709,702€685,768€661,833€637,899▼ 3.6%
Tangible fixed assets22/27€733,636€709,702€685,768€661,833€637,899▼ 3.6%
Land and buildings22-€709,702€685,768€661,833€637,899▼ 3.6%
Current assets29/58€194,681€240,051€216,362€113,445€126,409▲ 11.4%
Amounts receivable within one year40/41€43,092€40,694€8,911€3,812€101,845▲ 2,572%
Trade receivables40-€39,613€5,632€3,812€0▼ 100%
Other amounts receivable41-€1,080€3,279€0€101,845-
Cash at bank and in hand54/58€151,456€199,222€207,421€109,634€24,563▼ 77.6%
Deferred charges and accrued income490/1-€135€30€0--
Equity and liabilities
Total equity and liabilities10/49€928,318€949,753€902,130€775,279€764,308▼ 1.4%
Equity10/15-€40,204-€12,981€9,304€33,349€42,333▲ 26.9%
Contributions10/11-€6,200€6,200€6,200€6,200=
Reserves13€54,988€54,988€54,988€54,988€54,988=
Non-distributable reserves130/1-€1,859€1,859€0--
Reserves not available under the articles1311-€1,859€1,859€0--
Distributable reserves133-€53,129€53,129€54,988€54,988=
Profit (loss) carried forward14-€101,392-€74,169-€51,884-€27,839-€18,855▲ 32.3%
Amounts payable17/49€968,521€962,733€892,826€741,929€721,974▼ 2.7%
Amounts payable after more than one year17€427,778€381,111€334,444€287,778€241,111▼ 16.2%
Financial debts170/4-€381,111€334,444€287,778€241,111▼ 16.2%
Amounts payable within one year42/48€540,744€581,622€558,381€454,152€479,896▲ 5.7%
Current portion of amounts payable after more than one year42-€46,667€46,667€46,667€46,667=
Trade debts44€3,527€4,272€4,281€3,220€20,956▲ 551%
Suppliers440/4-€4,272€4,281€3,220€20,956▲ 551%
Taxes, remuneration and social security45---€2,000€2,012▲ 0.6%
Taxes450/3---€2,000€2,012▲ 0.6%
Other amounts payable47/48-€530,683€507,434€402,265€410,262▲ 2.0%
Accrued charges and deferred income492/3----€968-
Line20202021202220232024Change
Profit (loss) for the period9904€38,062€27,223€22,285€24,045€8,984▼ 62.6%
+ Depreciation and write-downs630€24,881€23,934€23,934€23,934€23,934=
Operating cash flow (approximation)€62,943€51,158€46,219€47,979€32,919▼ 31.4%
Investment in fixed assets (approximation)-€0€0€0€0-
Change in cash-€47,766€8,199-€97,787-€85,070▲ 13.0%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
17-07
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-07
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-07
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-07
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
16-07
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial Weakest financial yearnet €144 ▼99.8%
Net result drops to €144, the lowest in the series; recovery starts the following year.
24-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
04-07
NBB filing Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts

We know of 6 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
6 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, Menen · 1 establishment unit since 2005
seat establishment The establishment unit on the map
Ground area
2.8 ha
Building footprint
1.4 ha
Volume, LiDAR
68,133 m³
Parcel 34027F0491/00E000, Flanders · tallest building 10.5 m, ±1 floor. Linked by address, not a title deed.
11 companies at this address See who is registered here
1 establishment unit
DE KEYZER PROJECTS
Industrielaan 55, 8930 MenenNACE 36100
since 20052.146.632.764
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34027F0491/00E000 Flanders 2.8 ha 1 · 1.4 ha 10.5 m · 1 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.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. De Keyzer Beheer 99.6%
  2. De Keyzer Projects

Highest known parent: De Keyzer Beheer. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 618 companies in sector 31002 we hold annual accounts for 348. 229 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
Founded01-07-1997
Fiscal year end31-12
Activities, NACEBEL 2025
31002Manufacture of furniture
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID 0208:0460994577
Registered 18-03-2026

Register as of 26 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.