FWProjects
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 11 days after the deadline Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00399350.
Annual accounts 2025 filed on 11-08-2026 at the NBB all 2 filings
2024 to 2025, 2 financial years
The operating result for 2025 is a profit of €117,669, after a loss of €7,035 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Securities and guarantees
| Item | 2024 | 2025 |
|---|---|---|
| Debts secured on the company's own assets | €3.1m | €5.2m |
| Mortgages, amount registered | €55,000 | €55,000 |
| Mortgage mandates | €5.4m | €6.9m |
| Carrying value of the mortgaged assets | €4.7m | €4.5m |
Source: notes to the 2024 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Comparable companies
These companies have the same main activity as FWProjects: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €4.2m and €8.4m, founded between 2021 and 2025.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| FWProjects Brussel | 2023 | €7.7m | €0.2m | €0.1m | €0.09m | 2025 |
| NT Projects Olen | 2024 | €8.4m | -€0.02m | €0.09m | -€0.03m | 2025 |
| BUSINESS PARK AWANS Gent | 2023 | €6.1m | €0.02m | €0.09m | €0.003m | 2025 |
| HAVASUPPORT Kortenberg | 2022 | €7.1m | €0.2m | €0.2m | €0.1m | 2025 |
| BRIK Ravels | 2022 | €6.2m | €0.9m | €0.2m | -€0.1m | 2025 |
| BEDRIJVENPARK STONE Lier | 2021 | €5.6m | €0.2m | €0.2m | €0.2m | 2025 |
| Walls Belgium Antwerpen | 2025 | €4.2m | €0.08m | €0.1m | €0.08m | 2025 |
They were chosen from the 1,026 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 628 companies had the same profile as FWProjects has now. Two years later, 1.1% had gone bankrupt and 97.6% were still going.
- Medium-sized
- solvency under 10%
- a profit under 5% of the balance sheet
- without age
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FWProjects itself is higher: 2.2% within 12 months. It rests on far more data about FWProjects than the profile alone.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 628 companies, not a prediction for FWProjects. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €922 | €400 | ▼ 56.6% |
| Gross operating margin9900 | -€6,113 | €118,069 | - |
| Operating profit (loss)9901 | -€7,035 | €117,669 | - |
| Financial income75/76B | - | €0 | - |
| Recurring financial income75 | - | €0 | - |
| Financial charges65/66B | €467 | €445 | ▼ 4.8% |
| Recurring financial charges65 | €467 | €445 | ▼ 4.8% |
| Profit (loss) for the period before taxes9903 | -€7,502 | €117,224 | - |
| Income taxes67/77 | - | €27,430 | - |
| Profit (loss) for the period9904 | -€7,502 | €89,794 | - |
| Profit (loss) for the period to be appropriated9905 | -€7,502 | €89,794 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €4.8m | €7.7m | ▲ 62.4% |
| Current assets29/58 | €4.8m | €7.7m | ▲ 62.4% |
| Stocks and contracts in progress3 | €4.7m | €7.3m | ▲ 55.1% |
| Stocks30/36 | - | €4.5m | - |
| Contracts in progress37 | €4.7m | €2.8m | ▼ 41.1% |
| Amounts receivable within one year40/41 | €0.05m | €0.4m | ▲ 685% |
| Trade receivables40 | - | €0.4m | - |
| Other amounts receivable41 | €0.05m | €0.02m | ▼ 67.5% |
| Cash at bank and in hand54/58 | €0.005m | €0.02m | ▲ 271% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €4.8m | €7.7m | ▲ 62.4% |
| Equity10/15 | €0.1m | €0.2m | ▲ 63.0% |
| Contributions10/11 | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | -€0.008m | €0.08m | - |
| Amounts payable17/49 | €4.6m | €7.5m | ▲ 62.4% |
| Amounts payable after more than one year17 | €1.4m | €1.8m | ▲ 28.8% |
| Other amounts payable178/9 | €1.4m | €1.8m | ▲ 28.8% |
| Amounts payable within one year42/48 | €3.2m | €5.7m | ▲ 77.0% |
| Financial debts43 | €3.1m | €5.2m | ▲ 69.8% |
| Credit institutions430/8 | €3.1m | €5.2m | ▲ 69.8% |
| Trade debts44 | €0.08m | €0.04m | ▼ 48.0% |
| Suppliers440/4 | €0.08m | €0.04m | ▼ 48.0% |
| Advances received on contracts in progress46 | €0.02m | €0.4m | ▲ 27× |
| Taxes, remuneration and social security45 | - | €0.03m | - |
| Taxes450/3 | - | €0.03m | - |
| Other amounts payable47/48 | €0.06m | €0 | ▼ 100% |