Hovaere Projects
ActiveThe computed 12-month bankruptcy probability of Hovaere Projects is 1.9% (moderate). The 2025 annual accounts show equity of €268k and a net result of €87k. Equity is growing by ~33.8% per year across the filed fiscal years. Its solvency ranks better than 94% of 27711 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+18
Solvency100=
Growth52=
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity ample (current ratio 15.97 against 4.27 in 2024; short-term debt: 5.4% and cash: 2.7% of total assets), and 8.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
Sector 43
higher
← 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
91.4%
Return on assets
29.5%
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 17-07-2026, 14 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
14 d early
2024
6 d early
2023
6 d early
2022
19 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€268k▲ 47.7%
2024 · €182k
2022: €92k
2023: €157k
2024: €182k
2022 → 2025
Total assets
€293k▲ 23.7%
2024 · €237k
2022: €136k
2023: €338k
2024: €237k
2022 → 2025
Net result
€87k▲ 250%
2024 · €25k
2022: €91k
2023: €64k
2024: €25k
2022 → 2025
Working capital
€239k▲ 59.5%
2024 · €150k
2022: €41k
2023: €234k
2024: €150k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€92k-€157k▲ 69.9%€182k▲ 15.8%€268k▲ 47.7%
Operating result€118k-€84k▼ 28.9%€38k▼ 54.9%€113k▲ 199%
Net result€91k-€64k▼ 29.3%€25k▼ 61.6%€87k▲ 250%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 199% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €293k
Fixed assets
€38k▼ 7.5%
Current assets
€255k▲ 30.3%
Equity and liabilities €293k
Equity
€268k▲ 47.7%
Debt
€25k▼ 54.6%
The debt ratio falls from 23.4% to 8.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€129k▲
2024 · €53k
Cash flow
€103k▲
2024 · €40k
Solvency
91.4%▲
2024 · 76.6%
Current ratio
15.97▲
2024 · 4.27
Quick ratio
2.74▲
2024 · 0.72
Debt / equity
0.09▼
2024 · 0.31
ROE
32.3%▲
2024 · 13.6%
ROA
29.5%▲
2024 · 10.4%
Interest coverage
150.25▲
2024 · 10.39
Debt
€25k▼
2024 · €55k
Debt ≤ 1 year
€16k▼
2024 · €46k
Debt > 1 year
€9k=
2024 · €9k
Income taxes
€26k▲
2024 · €9k
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€237k€293k▲
Fixed assets21/28€41k€38k▼
Tangible fixed assets22/27€41k€38k▼
Plant, machinery and equipment23€3k€5k▲
Furniture and vehicles24€39k€25k▼
Other tangible fixed assets26-€8k
Current assets29/58€196k€255k▲
Stocks and contracts in progress3€163k€211k▲
Stocks30/36€163k€211k▲
Amounts receivable within one year40/41€31k€33k▲
Trade receivables40€22k€22k▼
Other amounts receivable41€9k€11k▲
Cash at bank and in hand54/58€662€8k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€237k€293k▲
Equity10/15€182k€268k▲
Contributions10/11€1k€1k=
Reserves13€181k€267k▲
Distributable reserves133€181k€267k▲
Amounts payable17/49€55k€25k▼
Amounts payable after more than one year17€9k€9k=
Financial debts170/4€0-
Other amounts payable178/9€9k€9k=
Amounts payable within one year42/48€46k€16k▼
Trade debts44€15k€7k▼
Suppliers440/4€15k€7k▼
Taxes, remuneration and social security45€22k€3k▼
Taxes450/3€22k€3k▼
Other amounts payable47/48€9k€6k▼
Accrued charges and deferred income492/3€832€374▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€16k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€55k€131k▲
Operating profit (loss)9901€38k€113k▲
Financial income75/76B€1k€64▼
Recurring financial income75€1k€64▼
Financial charges65/66B€5k€860▼
Recurring financial charges65€5k€860▼
Profit (loss) for the period before taxes9903€34k€112k▲
Income taxes67/77€9k€26k▲
Profit (loss) for the period9904€25k€87k▲
Profit (loss) for the period to be appropriated9905€25k€87k▲
Appropriation of the result
Profit (loss) to be appropriated9906€25k€87k▲
Transfer to equity691/2€25k€87k▲
To other reserves6921€25k€87k▲
The notes to these accounts (6 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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity quadruplescurrent ratio 15.97
Current ratio from 4.27 to 15.97; short-term debt falls from €46k to €16k.
31-12
Financial
Equity above €200kEq €268k ▲47.7%
4 profitable years in a row build equity to €268k.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €25k ▼61.6%
Net result drops to €25k, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 6.02
Current ratio from 2.25 to 6.02.
31-12
Financial
Equity above €150kEq €157k ▲69.9%
2 profitable years in a row build equity to €157k.
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Waregem · 1 establishment unit since 2021
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.
Gareelstraat 48790 WaregemGround area
605 m²
Building footprint
169 m²
Volume, LiDAR
865 m³
Parcel 34452B0608/00P002, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Hovaere Projects
since 20212.325.851.845
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0608/00P002 | Flanders | 605 m² | 1 · 169 m² | 8.9 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 204 EUR awarded · 204 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 204 EUR | 204 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
6994001NK5FDIJYEJC06
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Of 11,137 companies in sector 43910 we hold annual accounts for 5,487. 4,287 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-12-2021
Fiscal year end31-12
Activities, NACEBEL
43910Bricklaying and masonry work
43994Specialised construction activities
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.