E-Win Project
ActiveSummary
The computed 12-month bankruptcy probability of E-Win Project is 2.2% (moderate). The 2025 annual accounts show equity of €161,352 and a net result of €62,197. Equity is growing by ~56.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 28254 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 25.14 against 5.71 in 2024; short-term debt: 3.5% and cash: 63.6% of total assets), and 6.8% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
93.2%
Return on assets
35.9%
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 05-06-2026, 56 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
56 d early
2024
28 d late
2023
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 28 August (3 of the last 3 filed years within 84 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€161,352▲ 62.7%
2024 · €99,155
Total assets
€173,171▲ 37.7%
2024 · €125,734
Net result
€62,197▲ 26.1%
2024 · €49,326
Working capital
€145,615▲ 85.3%
2024 · €78,564
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€65,411-€70,962▲ 8.5%€80,295▲ 13.2%
Net result€46,828above the sector's middle half-€49,326above the sector's middle half▲ 5.3%€62,197above the sector's middle half▲ 26.1%
Equity€49,828within the sector's middle half-€99,155within the sector's middle half▲ 99.0%€161,352above the sector's middle half▲ 62.7%
Total assets€82,061within the sector's middle half-€125,734within the sector's middle half▲ 53.2%€173,171within the sector's middle half▲ 37.7%
Debt€32,233-€26,580▼ 17.5%€11,819▼ 55.5%
Working capital€28,805within the sector's middle half-€78,564within the sector's middle half▲ 173%€145,615above the sector's middle half▲ 85.3%
Solvency60.7%within the sector's middle half-78.9%above the sector's middle half▲ 18.1pp93.2%above the sector's middle half▲ 14.3pp
Current ratio2.57within the sector's middle half-5.71above the sector's middle half▲ 3.1525.14above the sector's middle half▲ 19.43
Return on assets (ROA)57.1%above the sector's middle half-39.2%above the sector's middle half▼ 17.8pp35.9%above the sector's middle half▼ 3.3pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 13% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €173,171
Fixed assets
€21,523 ▼ 29.4%
Current assets
€151,648 ▲ 59.2%
Equity and liabilities €173,171
Equity
€161,352 ▲ 62.7%
Debt
€11,819 ▼ 55.5%
Debt's share of the balance-sheet total falls from 21.1% to 6.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€89,265▲
2024 · €79,255
Cash flow
€71,167▲
2024 · €57,620
Debt to equity
0.07▼
2024 · 0.27
ROE
38.5%▼
2024 · 49.7%
Interest coverage
61.98▲
2024 · 56.28
Debt ≤ 1 year
€6,033▼
2024 · €16,678
Debt > 1 year
€5,786▼
2024 · €9,902
Income taxes
€16,658▼
2024 · €20,227
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.7% |
| 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 75% 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 39,276 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
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,665 | €8,293 | €8,969 | ▲ 8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €3,747 | €0 | -€12 | - |
| Other operating charges640/8 | €469 | €610 | €1,220 | ▲ 99.9% |
| Gross operating margin9900 | €75,292 | €79,865 | €90,472 | ▲ 13.3% |
| Operating profit (loss)9901 | €65,411 | €70,962 | €80,295 | ▲ 13.2% |
| Financial charges65/66B | €889 | €1,408 | €1,440 | ▲ 2.3% |
| Recurring financial charges65 | €889 | €1,408 | €1,440 | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | €64,522 | €69,554 | €78,855 | ▲ 13.4% |
| Income taxes67/77 | €17,694 | €20,227 | €16,658 | ▼ 17.6% |
| Profit (loss) for the period9904 | €46,828 | €49,326 | €62,197 | ▲ 26.1% |
| Profit (loss) for the period to be appropriated9905 | €46,828 | €49,326 | €62,197 | ▲ 26.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €82,061 | €125,734 | €173,171 | ▲ 37.7% |
| Fixed assets21/28 | €34,858 | €30,493 | €21,523 | ▼ 29.4% |
| Tangible fixed assets22/27 | €34,858 | €30,493 | €21,523 | ▼ 29.4% |
| Plant, machinery and equipment23 | €1,836 | €5,274 | €4,108 | ▼ 22.1% |
| Furniture and vehicles24 | €33,022 | €25,219 | €17,415 | ▼ 30.9% |
| Current assets29/58 | €47,203 | €95,241 | €151,648 | ▲ 59.2% |
| Amounts receivable within one year40/41 | €10,495 | €35,655 | €39,512 | ▲ 10.8% |
| Trade receivables40 | €10,488 | €21,848 | €33,052 | ▲ 51.3% |
| Other amounts receivable41 | €8 | €13,807 | €6,461 | ▼ 53.2% |
| Cash at bank and in hand54/58 | €35,893 | €57,482 | €110,211 | ▲ 91.7% |
| Deferred charges and accrued income490/1 | €815 | €2,105 | €1,924 | ▼ 8.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €82,061 | €125,734 | €173,171 | ▲ 37.7% |
| Equity10/15 | €49,828 | €99,155 | €161,352 | ▲ 62.7% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €46,828 | €96,155 | €96,155 | = |
| Distributable reserves133 | €46,828 | €96,155 | €96,155 | = |
| Profit (loss) carried forward14 | - | - | €62,197 | - |
| Amounts payable17/49 | €32,233 | €26,580 | €11,819 | ▼ 55.5% |
| Amounts payable after more than one year17 | €13,834 | €9,902 | €5,786 | ▼ 41.6% |
| Financial debts170/4 | €13,834 | €9,902 | €5,786 | ▼ 41.6% |
| Amounts payable within one year42/48 | €18,398 | €16,678 | €6,033 | ▼ 63.8% |
| Current portion of amounts payable after more than one year42 | €3,756 | €3,932 | €4,115 | ▲ 4.7% |
| Trade debts44 | €12,631 | €4,518 | €1,877 | ▼ 58.5% |
| Suppliers440/4 | €12,631 | €4,518 | €1,877 | ▼ 58.5% |
| Taxes, remuneration and social security45 | €2,012 | €8,227 | €0 | ▼ 100% |
| Taxes450/3 | €2,012 | €8,227 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €41 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €46,828 | €49,326 | €62,197 | ▲ 26.1% |
| + Depreciation and write-downs630 | €5,665 | €8,293 | €8,969 | ▲ 8.2% |
| Operating cash flow (approximation) | €52,493 | €57,620 | €71,167 | ▲ 23.5% |
| Investment in fixed assets (approximation) | - | -€3,928 | €0 | ▲ 100% |
| Change in cash | - | €21,589 | €52,729 | ▲ 144% |
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €62,197 ▲26.1%
Operating result €80,295, net result €62,197, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 25.14
Current ratio from 5.71 to 25.14; short-term debt falls from €16,678 to €6,033.
31-12
Financial
Equity above €150,000Eq €161,352 ▲62.7%
3 profitable years in a row build equity to €161,352.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 5.71
Current ratio from 2.57 to 5.71; short-term debt falls from €18,398 to €16,678.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Herve · 1 establishment unit since 2022
Ground area
761 m²
Building footprint
142 m²
Volume, LiDAR
580 m³
Parcel 63085B0508/00M000, Wallonia · tallest building 5.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
E-WIN Project
since 20222.336.931.423
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63085B0508/00M000 | Wallonia | 761 m² | 1 · 142 m² | 5.0 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.
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Of 4,094 companies in sector 43240 we hold annual accounts for 1,635. 1,334 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
Founded03-10-2022
Fiscal year end31-12
Abbreviation FR
EWP
Activities, NACEBEL 2025
43240Other construction installation
33140Repair and maintenance of electrical equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0791795162
Registered
08-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.