HW Projects
ActiveSummary
HW Projects has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €194k and a net result of €52k. Equity is growing by ~23.7% per year across the filed fiscal years. Its solvency ranks better than 57% of 11615 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability89▲+1
Solvency87▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 5.95 against 4.77 in 2023; short-term debt: 10.9% and cash: 42% of total assets), and 38.5% of the assets are financed with debt.
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Signals
Two 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
31 d early
2022
61 d late
2021
31 d late
2020
31 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€194k▲ 14.3%
2023 · €169k
Total assets
€315k▲ 19.1%
2023 · €264k
Net result
€52k▲ 30.3%
2023 · €40k
Working capital
€170k▲ 32.3%
2023 · €128k
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
Line20202021202220232024
Operating result€33k▼ 12.7%€32k▼ 3.9%€30k▼ 7.2%€60k▲ 104%€78k▲ 28.7%
Net result€24k▼ 9.0%€22k▼ 9.5%€20k▼ 6.4%€40k▲ 94.6%€52k▲ 30.3%
Equity€90k▲ 24.1%€111k▲ 23.6%€130k▲ 17.8%€169k▲ 30.0%€194k▲ 14.3%
Total assets€135k▲ 9.6%€186k▲ 37.8%€211k▲ 13.2%€264k▲ 25.3%€315k▲ 19.1%
Debt€46k▼ 10.9%€76k▲ 65.6%€81k▲ 6.4%€95k▲ 17.8%€121k▲ 27.6%
Working capital€95k▲ 48.6%€51k▼ 46.8%€86k▲ 69.2%€128k▲ 49.3%€170k▲ 32.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 29% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €315k
Fixed assets
€111k ▲ 8.5%
Current assets
€204k ▲ 25.7%
Equity and liabilities €315k
Equity
€194k ▲ 14.3%
Debt
€121k ▲ 27.6%
Debt's share of the balance-sheet total rises from 35.9% to 38.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€91k▲
2023 · €78k
Cash flow
€66k▲
2023 · €57k
Current ratio
5.95▲
2023 · 4.77
Debt to equity
0.63▲
2023 · 0.56
ROE
26.8%▲
2023 · 23.5%
ROA
16.5%▲
2023 · 15.1%
Interest coverage
91.56▲
2023 · 70.62
Debt ≤ 1 year
€34k▲
2023 · €34k
Debt > 1 year
€87k▲
2023 · €61k
Income taxes
€25k▲
2023 · €19k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €29k | €24k | €17k | €14k | ▼ 21.0% |
| Other operating charges640/8 | - | €1k | €1k | €1k | €971 | ▼ 8.8% |
| Gross operating margin9900 | €49k | €62k | €55k | €79k | €92k | ▲ 17.1% |
| Operating profit (loss)9901 | €33k | €32k | €30k | €60k | €78k | ▲ 28.7% |
| Recurring financial income75 | €1 | - | - | - | - | - |
| Financial charges65/66B | - | €2k | €1k | €1k | €998 | ▼ 9.4% |
| Recurring financial charges65 | €1k | €2k | €1k | €1k | €998 | ▼ 9.4% |
| Profit (loss) for the period before taxes9903 | €32k | €30k | €29k | €59k | €77k | ▲ 29.4% |
| Income taxes67/77 | €8k | €8k | €8k | €19k | €25k | ▲ 27.4% |
| Profit (loss) for the period9904 | €24k | €22k | €20k | €40k | €52k | ▲ 30.3% |
| Profit (loss) for the period to be appropriated9905 | €24k | €22k | €20k | €40k | €52k | ▲ 30.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €135k | €186k | €211k | €264k | €315k | ▲ 19.1% |
| Fixed assets21/28 | €18k | €131k | €111k | €102k | €111k | ▲ 8.5% |
| Tangible fixed assets22/27 | €18k | €131k | €111k | €102k | €111k | ▲ 8.5% |
| Land and buildings22 | - | €92k | €90k | €86k | €82k | ▼ 4.7% |
| Plant, machinery and equipment23 | - | €2k | €3k | €10k | €29k | ▲ 187% |
| Furniture and vehicles24 | - | €36k | €17k | €6k | - | - |
| Current assets29/58 | €117k | €56k | €100k | €162k | €204k | ▲ 25.7% |
| Amounts receivable within one year40/41 | €10k | €14k | €11k | €56k | €22k | ▼ 61.4% |
| Trade receivables40 | - | €7k | €7k | €28k | €22k | ▼ 23.4% |
| Other amounts receivable41 | - | €7k | €4k | €28k | €30 | ▼ 99.9% |
| Current investments50/53 | - | - | - | - | €50k | - |
| Cash at bank and in hand54/58 | €107k | €41k | €89k | €106k | €132k | ▲ 24.8% |
| Deferred charges and accrued income490/1 | - | €688 | €408 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €135k | €186k | €211k | €264k | €315k | ▲ 19.1% |
| Equity10/15 | €90k | €111k | €130k | €169k | €194k | ▲ 14.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €71k | €92k | €112k | €151k | €175k | ▲ 16.1% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €90k | €110k | €149k | €173k | ▲ 16.3% |
| Amounts payable17/49 | €46k | €76k | €81k | €95k | €121k | ▲ 27.6% |
| Amounts payable after more than one year17 | €24k | €71k | €66k | €61k | €87k | ▲ 42.4% |
| Financial debts170/4 | - | €71k | €66k | €61k | €87k | ▲ 42.4% |
| Amounts payable within one year42/48 | €22k | €5k | €15k | €34k | €34k | ▲ 0.9% |
| Current portion of amounts payable after more than one year42 | - | €5k | €5k | €5k | €5k | ▲ 1.3% |
| Financial debts43 | - | €2 | - | - | - | - |
| Credit institutions430/8 | - | €2 | - | - | - | - |
| Trade debts44 | €173 | - | €900 | €775 | €9k | ▲ 1,021% |
| Suppliers440/4 | - | - | €900 | €775 | €9k | ▲ 1,021% |
| Taxes, remuneration and social security45 | - | €240 | €4k | €19k | €20k | ▲ 7.0% |
| Taxes450/3 | - | €240 | €4k | €19k | €20k | ▲ 7.0% |
| Other amounts payable47/48 | - | - | €5k | €9k | €33 | ▼ 99.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €22k | €20k | €40k | €52k | ▲ 30.3% |
| + Depreciation and write-downs630 | €15k | €29k | €24k | €17k | €14k | ▼ 21.0% |
| Operating cash flow (approximation) | €40k | €51k | €45k | €57k | €66k | ▲ 14.7% |
| Investment in fixed assets (approximation) | - | €-142k | €-4k | €-9k | €-23k | ▼ 145% |
| Change in cash | - | €-66k | €48k | €17k | €26k | ▲ 57.9% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €52k ▲30.3%
Operating result €78k, net result €52k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150kEq €169k ▲30%
6 profitable years in a row build equity to €169k.
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Weakest financial yearnet €20k ▼6.4%
Net result drops to €20k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 10.83
Current ratio from 5.38 to 10.83; short-term debt falls from €22k to €5k.
31-12
Financial
Equity above €100kEq €111k ▲23.6%
4 profitable years in a row build equity to €111k.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are 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, Gavere · 1 establishment unit since 2017
Ground area
498 m²
Building footprint
183 m²
Volume, LiDAR
780 m³
Parcel 44003B0387/00E000, Flanders · tallest building 6.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
HW Projects
since 20172.260.313.596
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44003B0387/00E000 | Flanders | 498 m² | 1 · 183 m² | 6.4 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 11,571 companies in sector 71121 we hold annual accounts for 6,561. 5,136 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
Founded03-01-2017
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.