Summary
DEWAELE 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 €186,129 and a net result of €73,935. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 71% of 9,732 sector peers (NACE 64, financial year 2025). The company has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€186,129▲ 65.9%
2024 · €112,194
Net result
€73,935▲ 53.9%
2024 · €48,047
Total assets
€252,621▲ 32.2%
2024 · €191,102
Solvency
73.7%▲ 15.0pp
2024 · 58.7%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 51% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€107,165
2025
Net result€73,935
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€252,621
2025
Equity€186,129
2025
Debt€66,492
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€213,602
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)29.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency73.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio6.81
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€10,112-€18,982€339▼ 98.2%€65,144▲ 192×€41,321▼ 36.6%€71,079▲ 72.0%€107,165▲ 50.8%
Net result-€12,097-€11,747within the sector's middle half-€3,711below the sector's middle half€47,409within the sector's middle half€26,614within the sector's middle half▼ 43.9%€48,047within the sector's middle half▲ 80.5%€73,935within the sector's middle half▲ 53.9%
Equity-€17,912--€6,165below the sector's middle half▲ 65.6%-€9,876below the sector's middle half▼ 60.2%€37,533below the sector's middle half€64,147within the sector's middle half▲ 70.9%€112,194within the sector's middle half▲ 74.9%€186,129within the sector's middle half▲ 65.9%
Total assets€106,837-€81,611below the sector's middle half▼ 23.6%€63,115below the sector's middle half▼ 22.7%€117,367below the sector's middle half▲ 86.0%€136,514within the sector's middle half▲ 16.3%€191,102within the sector's middle half▲ 40.0%€252,621within the sector's middle half▲ 32.2%
Debt€124,749-€87,776▼ 29.6%€72,991▼ 16.8%€79,834▲ 9.4%€72,367▼ 9.4%€78,908▲ 9.0%€66,492▼ 15.7%
Working capital-€27,882--€6,644within the sector's middle half▲ 76.2%€44,620within the sector's middle half€93,073within the sector's middle half▲ 109%€113,857within the sector's middle half▲ 22.3%€169,465above the sector's middle half▲ 48.8%€213,602above the sector's middle half▲ 26.0%
Solvency-16.8%--7.6%below the sector's middle half▲ 9.2pp-15.6%below the sector's middle half▼ 8.1pp32.0%within the sector's middle half▲ 47.6pp47.0%within the sector's middle half▲ 15.0pp58.7%within the sector's middle half▲ 11.7pp73.7%within the sector's middle half▲ 15.0pp
Current ratio0.77-0.92within the sector's middle half▲ 0.153.92within the sector's middle half▲ 2.995.27above the sector's middle half▲ 1.366.96above the sector's middle half▲ 1.699.95above the sector's middle half▲ 2.996.81above the sector's middle half▼ 3.14
Return on assets (ROA)-11.3%-14.4%within the sector's middle half▲ 25.7pp-5.9%below the sector's middle half▼ 20.3pp40.4%above the sector's middle half▲ 46.3pp19.5%within the sector's middle half▼ 20.9pp25.1%within the sector's middle half▲ 5.6pp29.3%above the sector's middle half▲ 4.1pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €252,621
Fixed assets
€2,255 ▼ 16.5%
Current assets
€250,367 ▲ 32.9%
Equity and liabilities €252,621
Equity
€186,129 ▲ 65.9%
Debt
€66,492 ▼ 15.7%
Debt's share of the balance-sheet total falls from 41.3% to 26.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
39.7%▼
2024 · 42.8%
Debt ≤ 1 year
€36,765▲
2024 · €18,936
Debt > 1 year
€26,558▼
2024 · €56,291
Income taxes
€29,816▲
2024 · €18,962
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €21,148 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,938 | €590 | €250 | €686 | €721 | €855 | €446 | ▼ 47.8% |
| Other operating charges640/8 | - | - | - | €4,280 | €4,340 | €3,006 | €2,794 | ▼ 7.1% |
| Gross operating margin9900 | €2,580 | €28,211 | €3,478 | €70,110 | €46,383 | €74,940 | €110,404 | ▲ 47.3% |
| Operating profit (loss)9901 | -€10,112 | €18,982 | €339 | €65,144 | €41,321 | €71,079 | €107,165 | ▲ 50.8% |
| Financial income75/76B | - | - | - | €1 | €1 | €6 | €17 | ▲ 162% |
| Recurring financial income75 | €17 | €20 | €75 | €1 | €1 | €6 | €17 | ▲ 162% |
| Financial charges65/66B | - | - | - | €2,966 | €3,627 | €4,077 | €3,430 | ▼ 15.9% |
| Recurring financial charges65 | €1,715 | €2,614 | €2,913 | €2,966 | €3,627 | €4,077 | €3,430 | ▼ 15.9% |
| Profit (loss) for the period before taxes9903 | -€11,811 | €16,389 | -€2,499 | €62,180 | €37,696 | €67,009 | €103,752 | ▲ 54.8% |
| Income taxes67/77 | €286 | €4,642 | €1,212 | €14,771 | €11,082 | €18,962 | €29,816 | ▲ 57.2% |
| Profit (loss) for the period9904 | -€12,097 | €11,747 | -€3,711 | €47,409 | €26,614 | €48,047 | €73,935 | ▲ 53.9% |
| Profit (loss) for the period to be appropriated9905 | -€12,097 | €11,747 | -€3,711 | €47,409 | €26,614 | €48,047 | €73,935 | ▲ 53.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €106,837 | €81,611 | €63,115 | €117,367 | €136,514 | €191,102 | €252,621 | ▲ 32.2% |
| Fixed assets21/28 | €10,951 | €1,565 | €3,194 | €2,508 | €3,555 | €2,701 | €2,255 | ▼ 16.5% |
| Tangible fixed assets22/27 | €9,386 | - | €1,994 | €1,308 | €2,355 | €1,501 | €1,055 | ▼ 29.7% |
| Plant, machinery and equipment23 | - | - | - | - | €1,734 | €1,380 | €1,027 | ▼ 25.6% |
| Furniture and vehicles24 | - | - | - | €1,308 | €621 | €120 | €28 | ▼ 76.7% |
| Financial fixed assets28 | €1,565 | €1,565 | €1,200 | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Current assets29/58 | €95,886 | €80,046 | €59,921 | €114,860 | €132,959 | €188,401 | €250,367 | ▲ 32.9% |
| Stocks and contracts in progress3 | €6,150 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €29,933 | €36,247 | €10,700 | €28,028 | €1,632 | €24 | €15,089 | ▲ 638× |
| Trade receivables40 | - | - | - | €27,928 | €1,466 | €8 | €15,070 | ▲ 1,884× |
| Other amounts receivable41 | - | - | - | €100 | €166 | €16 | €19 | ▲ 24.0% |
| Cash at bank and in hand54/58 | €51,525 | €37,390 | €43,277 | €78,232 | €123,968 | €180,978 | €229,386 | ▲ 26.7% |
| Deferred charges and accrued income490/1 | - | - | - | €8,599 | €7,358 | €7,399 | €5,891 | ▼ 20.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €106,837 | €81,611 | €63,115 | €117,367 | €136,514 | €191,102 | €252,621 | ▲ 32.2% |
| Equity10/15 | -€17,912 | -€6,165 | -€9,876 | €37,533 | €64,147 | €112,194 | €186,129 | ▲ 65.9% |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €66 | €66 | €66 | €18,933 | €45,547 | €93,594 | €167,529 | ▲ 79.0% |
| Non-distributable reserves130/1 | - | - | - | €66 | €66 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €66 | €66 | €0 | - | - |
| Distributable reserves133 | - | - | - | €18,867 | €45,481 | €93,594 | €167,529 | ▲ 79.0% |
| Profit (loss) carried forward14 | -€36,578 | -€24,831 | -€28,542 | - | - | - | - | - |
| Amounts payable17/49 | €124,749 | €87,776 | €72,991 | €79,834 | €72,367 | €78,908 | €66,492 | ▼ 15.7% |
| Amounts payable after more than one year17 | - | - | €55,374 | €55,636 | €50,512 | €56,291 | €26,558 | ▼ 52.8% |
| Other amounts payable178/9 | - | - | - | €55,636 | €50,512 | €56,291 | €26,558 | ▼ 52.8% |
| Amounts payable within one year42/48 | €123,767 | €86,690 | €15,301 | €21,787 | €19,102 | €18,936 | €36,765 | ▲ 94.1% |
| Trade debts44 | €36,869 | €8,376 | €2,308 | €1,896 | €1,626 | €2,234 | €333 | ▼ 85.1% |
| Suppliers440/4 | - | - | - | €1,896 | €1,626 | €2,234 | €333 | ▼ 85.1% |
| Taxes, remuneration and social security45 | - | - | - | €19,890 | €17,475 | €16,703 | €36,432 | ▲ 118% |
| Taxes450/3 | - | - | - | €16,839 | €14,424 | €11,301 | €33,318 | ▲ 195% |
| Remuneration and social security454/9 | - | - | - | €3,051 | €3,051 | €5,402 | €3,114 | ▼ 42.4% |
| Accrued charges and deferred income492/3 | - | - | - | €2,411 | €2,754 | €3,681 | €3,170 | ▼ 13.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€12,097 | €11,747 | -€3,711 | €47,409 | €26,614 | €48,047 | €73,935 | ▲ 53.9% |
| + Depreciation and write-downs630 | €5,938 | €590 | €250 | €686 | €721 | €855 | €446 | ▼ 47.8% |
| Operating cash flow (approximation) | -€6,159 | €12,337 | -€3,461 | €48,095 | €27,335 | €48,902 | €74,382 | ▲ 52.1% |
| Investment in fixed assets (approximation) | - | €8,796 | -€1,879 | €0 | -€1,769 | €0 | €0 | - |
| Change in cash | - | -€14,135 | €5,887 | €34,955 | €45,737 | €57,010 | €48,408 | ▼ 15.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 14-01-2026 | 2026-00009195 |
| 30-06-2024 | micro format | 30-01-2025 | 2025-00020814 |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00027773 |
| 30-06-2022 | micro format | 16-02-2023 | 2023-00031011 |
| 30-06-2021 | micro format | 14-01-2022 | 2022-01100209 |
| 30-06-2020 | micro format | 30-01-2021 | 2021-04800492 |
| 30-06-2019 | micro format | 31-01-2020 | 2020-04400157 |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03700200 |
| 30-06-2017 | micro format | 15-01-2018 | 2018-01700473 |
| 30-06-2016 | abbreviated format | 31-01-2017 | 2017-03800227 |
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Of the 24,457 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,067. 13,661 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.