Despiegelaere Projects is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €29.88M and a net result of €4.02M. Equity is growing by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 60% of 2377 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
56 d late
2023
34 d late
2022
15 d early
2021
on the day
2020
11 d early
2019
32 d early
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€29.88M▲ 5.7%
2024 · €28.26M
2018: €19.14M
2019: €19.96M
2020: €20.57M
2021: €26.74M
2022: €27.97M
2023: €29.74M
2024: €28.26M
2018 → 2025
Net result
€4.02M▲ 231%
2024 · €1.22M
2018: €1.21M
2019: €818k
2020: €612k
2021: €6.17M
2022: €1.23M
2023: €1.77M
2024: €1.22M
2018 → 2025
Total assets
€41.58M▲ 14.4%
2024 · €36.34M
2018: €28.34M
2019: €28.39M
2020: €28.87M
2021: €34.41M
2022: €35.39M
2023: €35.90M
2024: €36.34M
2018 → 2025
Solvency
71.9%▼ 5.9pp
2024 · 77.8%
2018: 67.5%
2019: 70.3%
2020: 71.2%
2021: 77.7%
2022: 79.1%
2023: 82.8%
2024: 77.8%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26.74M-€27.97M▲ 4.6%€29.74M▲ 6.3%€28.26M▼ 5.0%€29.88M▲ 5.7%
Operating result€5.22M-€-156k€-190k▼ 21.8%€-322k▼ 69.8%€-589k▼ 82.8%
Net result€6.17M-€1.23M▼ 80.0%€1.77M▲ 43.4%€1.22M▼ 31.1%€4.02M▲ 231%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €589k in 2025 against €322k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41.58M
Fixed assets
€19.88M▲ 16.6%
Current assets
€21.69M▲ 12.4%
Equity and liabilities €41.58M
Equity
€29.88M▲ 5.7%
Debt
€11.70M▲ 44.6%
The debt ratio rises from 22.2% to 28.1%. Equity and debt are higher.
Key figures and ratios
Solvency
71.9%▼
2024 · 77.8%
ROE
13.5%▲
2024 · 4.3%
ROA
9.7%▲
2024 · 3.3%
Debt
€11.70M▲
2024 · €8.09M
Debt ≤ 1 year
€10.27M▲
2024 · €6.69M
Debt > 1 year
€1.37M▲
2024 · €1.31M
Income taxes
€389▼
2024 · €16k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€36.34M€41.58M▲
Fixed assets21/28€17.05M€19.88M▲
Tangible fixed assets22/27€9k€6k▼
Furniture and vehicles24€9k€6k▼
Financial fixed assets28€17.04M€19.87M▲
Current assets29/58€19.30M€21.69M▲
Amounts receivable after more than one year29€8.19M€8.45M▲
Other amounts receivable291€8.19M€8.45M▲
Amounts receivable within one year40/41€10.54M€12.71M▲
Trade receivables40€32k€998▼
Other amounts receivable41€10.51M€12.71M▲
Current investments50/53€503k€503k=
Cash at bank and in hand54/58€57k€35k▼
Deferred charges and accrued income490/1€2k€0▼
Equity and liabilities
Total equity and liabilities10/49€36.34M€41.58M▲
Equity10/15€28.26M€29.88M▲
Contributions10/11€3.76M€3.76M=
Capital10€3.76M€3.76M=
Issued capital100€3.76M€3.76M=
Outside capital11€161€161=
Share premium1100/10€161€161=
Reserves13€24.50M€26.12M▲
Non-distributable reserves130/1€376k€376k=
Legal reserve130€376k€376k=
Distributable reserves133€24.12M€25.75M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€8.09M€11.70M▲
Amounts payable after more than one year17€1.31M€1.37M▲
Financial debts170/4€1.31M€1.37M▲
Amounts payable within one year42/48€6.69M€10.27M▲
Financial debts43€3.92M€6.08M▲
Credit institutions430/8€3.92M€6.08M▲
Trade debts44€104k€75k▼
Suppliers440/4€104k€75k▼
Taxes, remuneration and social security45€3k€140k▲
Taxes450/3€3k€140k▲
Other amounts payable47/48€2.67M€3.97M▲
Accrued charges and deferred income492/3€83k€59k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▼
Other operating charges640/8€2k€138k▲
Gross operating margin9900€-317k€-448k▼
Operating profit (loss)9901€-322k€-589k▼
Financial income75/76B€1.99M€4.97M▲
Recurring financial income75€1.99M€4.97M▲
Financial charges65/66B€437k€357k▼
Recurring financial charges65€437k€357k▼
Profit (loss) for the period before taxes9903€1.23M€4.02M▲
Income taxes67/77€16k€389▼
Profit (loss) for the period9904€1.22M€4.02M▲
Profit (loss) for the period to be appropriated9905€1.22M€4.02M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.22M€4.02M▲
Transfer from equity791/2€2.70M€0▼
Transfer to equity691/2€1.22M€1.62M▲
To other reserves6921€1.22M€1.62M▲
Profit to be distributed694/7€2.70M€2.40M▼
Return on contributions (dividend)694€2.70M€2.40M▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
State Gazette act
Incorporation · Founder
Founding capital · Bank account
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 56 days late
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 34 days late
2023
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-10
Financial
Highest result since 2018net €6.17M ▲910%
Operating result €5.22M, net result €6.17M, both a record.
31-10
Financial
Equity above €25MEq €26.74M ▲30%
4 profitable years in a row build equity to €26.74M.
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-10
Financial
Weakest financial yearnet €612k ▼25.2%
Net result drops to €612k, the lowest in the series; recovery starts the following year.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
16-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
07-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2014
02-05
State Gazette act
Board meeting · Share issue
Capital increase · Power of attorney · Johan KIEBOOMS
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Kortrijk · 1 establishment unit since 2004
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Beneluxpark(Kor) 268500 KortrijkGround area
1.1 ha
Building footprint
3,566 m²
Parcel 34354D0456/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
DESPIEGELAERE PROJECTS
since 20042.137.954.234
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354D0456/00A000 | Flanders | 1.1 ha | 1 · 3,566 m² | 0.0 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
9676004WP845Q7GT1D26
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Of 24,726 companies in sector 64210 we hold annual accounts for 19,747. 3,498 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-05-2004
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.