EXCELSIOR PROJECTS
ActiveSummary
EXCELSIOR PROJECTS has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111k and a net result of €2k. Equity is growing by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 26% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+31
Solvency32▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.09 in 2024; short-term debt: 92.3% and cash: 10% of total assets), and 92.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
7.3%
Return on assets
0.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
47 d early
2022
14 d late
2021
23 d late
2020
5 d late
2019
27 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
History
Financials · fiscal year 2025, abbreviated schema
Equity
€111k▲ 1.9%
2024 · €109k
Total assets
€1.51M▲ 42.5%
2024 · €1.06M
Net result
€2k▼ 3.3%
2024 · €2k
Working capital
€97k▲ 9.1%
2024 · €89k
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
Line20212022202320242025
Operating result€19k▼ 74.7%€26k▲ 39.5%€18k▼ 32.4%€4k▼ 76.3%€3k▼ 19.8%
Net result€12k▲ 69.7%€11k▼ 11.6%€19k▲ 72.9%€2k▼ 88.5%€2k▼ 3.3%
Equity€77k▲ 19.0%€88k▲ 14.1%€106k▲ 21.4%€109k▲ 2.0%€111k▲ 1.9%
Total assets€5.81M▲ 24.6%€2.75M▼ 52.7%€3.90M▲ 42.0%€1.06M▼ 72.8%€1.51M▲ 42.5%
Debt€5.73M▲ 24.7%€2.66M▼ 53.6%€3.80M▲ 42.7%€954k▼ 74.9%€1.40M▲ 47.2%
Working capital€4.03M▲ 45.5%€1.32M▼ 67.3%€3.30M▲ 151%€89k▼ 97.3%€97k▲ 9.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 20% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.51M
Fixed assets
€19k ▼ 23.6%
Current assets
€1.50M ▲ 44.2%
Equity and liabilities €1.51M
Equity
€111k ▲ 1.9%
Debt
€1.40M ▲ 47.2%
Debt's share of the balance-sheet total rises from 89.8% to 92.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9k▲
2024 · €9k
Cash flow
€8k▲
2024 · €7k
Current ratio
1.07▼
2024 · 1.09
Quick ratio
0.15▲
2024 · 0.06
Debt to equity
12.68▲
2024 · 8.78
ROE
1.9%▼
2024 · 2.0%
ROA
0.1%▼
2024 · 0.2%
Interest coverage
25.18▲
2024 · -28.13
Debt ≤ 1 year
€1.40M▲
2024 · €948k
Income taxes
€3k▲
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €5k | €6k | ▲ 31.2% |
| Gross operating margin9900 | €19k | €26k | €18k | €9k | €9k | ▲ 6.7% |
| Operating profit (loss)9901 | €19k | €26k | €18k | €4k | €3k | ▼ 19.8% |
| Financial income75/76B | - | - | €9k | - | €2k | - |
| Recurring financial income75 | - | - | €9k | - | €2k | - |
| Financial charges65/66B | - | €11k | €2k | €-313 | €373 | ▲ 219% |
| Recurring financial charges65 | €3k | €11k | €2k | €-313 | €373 | ▲ 219% |
| Profit (loss) for the period before taxes9903 | €16k | €15k | €25k | €5k | €5k | ▲ 11.9% |
| Income taxes67/77 | €4k | €4k | €6k | €2k | €3k | ▲ 25.7% |
| Profit (loss) for the period9904 | €12k | €11k | €19k | €2k | €2k | ▼ 3.3% |
| Profit (loss) for the period to be appropriated9905 | €12k | €11k | €19k | €2k | €2k | ▼ 3.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.81M | €2.75M | €3.90M | €1.06M | €1.51M | ▲ 42.5% |
| Fixed assets21/28 | - | - | - | €25k | €19k | ▼ 23.6% |
| Tangible fixed assets22/27 | - | - | - | €25k | €19k | ▼ 23.6% |
| Furniture and vehicles24 | - | - | - | €25k | €19k | ▼ 23.6% |
| Current assets29/58 | €5.81M | €2.75M | €3.90M | €1.04M | €1.50M | ▲ 44.2% |
| Stocks and contracts in progress3 | €4.90M | €1.64M | €3.30M | €983k | €1.29M | ▲ 31.0% |
| Contracts in progress37 | - | €1.64M | €3.30M | €983k | €1.29M | ▲ 31.0% |
| Amounts receivable within one year40/41 | €243k | €334k | €38k | €35k | €55k | ▲ 56.4% |
| Trade receivables40 | - | €324k | €29k | €1k | €38k | ▲ 3,547% |
| Other amounts receivable41 | - | €9k | €9k | €34k | €17k | ▼ 48.8% |
| Cash at bank and in hand54/58 | €667k | €770k | €562k | €19k | €152k | ▲ 701% |
| Deferred charges and accrued income490/1 | - | €700 | €700 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.81M | €2.75M | €3.90M | €1.06M | €1.51M | ▲ 42.5% |
| Equity10/15 | €77k | €88k | €106k | €109k | €111k | ▲ 1.9% |
| Contributions10/11 | - | €20k | €20k | €20k | €20k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €55k | €66k | €84k | €87k | €89k | ▲ 2.4% |
| Amounts payable17/49 | €5.73M | €2.66M | €3.80M | €954k | €1.40M | ▲ 47.2% |
| Amounts payable within one year42/48 | €1.78M | €1.43M | €598k | €948k | €1.40M | ▲ 47.5% |
| Trade debts44 | €1.33M | €731k | €148k | €234k | €84k | ▼ 64.2% |
| Suppliers440/4 | - | €731k | €148k | €234k | €84k | ▼ 64.2% |
| Other amounts payable47/48 | - | €700k | €450k | €715k | €1.31M | ▲ 84.0% |
| Accrued charges and deferred income492/3 | - | €1.23M | €3.20M | €6k | €6k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €11k | €19k | €2k | €2k | ▼ 3.3% |
| + Depreciation and write-downs630 | - | - | - | €5k | €6k | ▲ 31.2% |
| Operating cash flow (approximation) | €12k | €11k | €19k | €7k | €8k | ▲ 20.1% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | €103k | €-209k | €-543k | €133k | ▲ 125% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
State Gazette act
Resignations & appointments · RestructuringMerger · Dissolution · Accounting effect5 facts ▸
State Gazette act
Resignations & appointments · Restructuring
Merger · Dissolution · Accounting effect5 facts ▸
- General meeting, 23/06/2026
- Merger, simplified sister merger, artikel 12:7, 2° juncto 12:50 tot 12:58 WVV
- Dissolution, 23-06-2026
- Accounting effect, 01/04/2026
- Power of attorney, Mathicon
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet €2k ▼3.3%
Net result drops to €2k, the lowest in the series.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
15-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Highest result since 2019net €19k ▲72.9%
Net result €19k, the highest in the series.
30-06
Financial
Liquidity triplescurrent ratio 6.52
Current ratio from 1.92 to 6.52; short-term debt falls from €1.43M to €598k.
30-06
Financial
Equity above €100kEq €106k ▲21.4%
5 profitable years in a row build equity to €106k.
14-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 14 days late
2022
23-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 23 days late
2021
05-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
30-06
Financial
Liquidity doublescurrent ratio 2.50
Current ratio from 1.20 to 2.50; short-term debt falls from €1.92M to €1.84M.
Show earlier events
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
19-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
26-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 26 days late
2017
16-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Nazareth-De Pinte · 1 establishment unit since 2011
Ground area
2.1 ha
Building footprint
222 m²
Volume, LiDAR
713 m³
Parcel 44048H0483/00G000, Flanders · tallest building 6.3 m, ±1 floor. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
Plezierstraat 8A, 9810 Nazareth-De Pinte
since 20112.199.090.364
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44048H0483/00G000 | Flanders | 2.1 ha | 1 · 222 m² | 6.3 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
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTook over:EXCELSIOR CONSTRUCT
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Of 1,295 companies in sector 68122 we hold annual accounts for 903. 544 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
Founded21-04-2011
Fiscal year end30-06
Activities, NACEBEL 2025
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.