HWQ PROJECTS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €727k and a net result of €35k. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 8006 sector peers (fiscal year 2025). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 24-03-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
8 d early
2023
14 d early
2022
6 d early
2021
33 d early
2020
39 d early
2019
12 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
20-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€727k▼ 7.0%
2024 · €782k
2018: €419k
2019: €510k
2020: €588k
2021: €600k
2022: €675k
2023: €733k
2024: €782k
2018 → 2025
Net result
€35k▼ 60.6%
2024 · €90k
2018: €54k
2019: €119k
2020: €77k
2021: €12k
2022: €75k
2023: €57k
2024: €90k
2018 → 2025
Total assets
€966k▲ 0.1%
2024 · €964k
2018: €473k
2019: €578k
2020: €868k
2021: €866k
2022: €908k
2023: €933k
2024: €964k
2018 → 2025
Solvency
75.3%▼ 5.8pp
2024 · 81.1%
2018: 88.5%
2019: 88.3%
2020: 67.7%
2021: 69.3%
2022: 74.4%
2023: 78.5%
2024: 81.1%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€600k-€675k▲ 12.5%€733k▲ 8.5%€782k▲ 6.8%€727k▼ 7.0%
Operating result€24k-€112k▲ 374%€86k▼ 22.9%€133k▲ 53.8%€59k▼ 55.6%
Net result€12k-€75k▲ 501%€57k▼ 23.5%€90k▲ 56.4%€35k▼ 60.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 56% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €966k
Fixed assets
€572k▲ 1.9%
Current assets
€394k▼ 2.4%
Equity and liabilities €966k
Equity
€727k▼ 7.0%
Provisions
€5k=
Debt
€233k▲ 31.7%
The debt ratio rises from 18.4% to 24.2%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
75.3%▼
2024 · 81.1%
ROE
4.9%▼
2024 · 11.5%
ROA
3.7%▼
2024 · 9.3%
Debt
€233k▲
2024 · €177k
Debt ≤ 1 year
€146k▲
2024 · €73k
Debt > 1 year
€84k▼
2024 · €104k
Income taxes
€20k▼
2024 · €42k
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€964k€966k▲
Fixed assets21/28€561k€572k▲
Intangible fixed assets21€762€278▼
Tangible fixed assets22/27€560k€572k▲
Land and buildings22€530k€520k▼
Plant, machinery and equipment23-€4k
Furniture and vehicles24€30k€48k▲
Current assets29/58€403k€394k▼
Amounts receivable within one year40/41€46k€49k▲
Trade receivables40€37k€18k▼
Other amounts receivable41€9k€32k▲
Current investments50/53€100k€231k▲
Cash at bank and in hand54/58€247k€106k▼
Deferred charges and accrued income490/1€11k€8k▼
Equity and liabilities
Total equity and liabilities10/49€964k€966k▲
Equity10/15€782k€727k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€720k€665k▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€12k€12k=
Distributable reserves133€702k€647k▼
Provisions and deferred taxes16€5k€5k=
Provisions for liabilities and charges160/5€5k€5k=
Environmental obligations163€5k€5k=
Amounts payable17/49€177k€233k▲
Amounts payable after more than one year17€104k€84k▼
Financial debts170/4€104k€84k▼
Amounts payable within one year42/48€73k€146k▲
Current portion of amounts payable after more than one year42€20k€20k▲
Trade debts44€18k€22k▲
Suppliers440/4€18k€22k▲
Taxes, remuneration and social security45€29k€17k▼
Taxes450/3€29k€17k▼
Other amounts payable47/48€6k€87k▲
Accrued charges and deferred income492/3€882€4k▲
Income statement
Code20242025
Non-recurring operating income76A€6k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€17k▲
Other operating charges640/8€7k€8k▲
Gross operating margin9900€155k€84k▼
Operating profit (loss)9901€133k€59k▼
Financial income75/76B€3k€4k▲
Recurring financial income75€3k€4k▲
Financial charges65/66B€5k€8k▲
Recurring financial charges65€5k€8k▲
Profit (loss) for the period before taxes9903€132k€55k▼
Income taxes67/77€42k€20k▼
Profit (loss) for the period9904€90k€35k▼
Profit (loss) for the period to be appropriated9905€90k€35k▼
Appropriation of the result
Profit (loss) to be appropriated9906€90k€35k▼
Transfer from equity791/2€40k€90k▲
Transfer to equity691/2€90k€35k▼
To other reserves6921€90k€35k▼
Profit to be distributed694/7€40k€90k▲
Return on contributions (dividend)694€40k€90k▲
The notes to these accounts (12 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
24-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet €12k ▼83.9%
Net result drops to €12k, the lowest in the series; recovery starts the following year.
22-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
12-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 12 days late
2019
30-09
Financial
Highest result since 2018net €119k ▲122%
Operating result €177k, net result €119k, both a record.
30-09
Financial
Equity above €500kEq €510k ▲21.9%
2 profitable years in a row build equity to €510k.
05-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
23-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Wielsbeke · 1 establishment unit since 1989
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.
Wandellaan 438710 WielsbekeGround area
1,044 m²
Building footprint
205 m²
Volume, LiDAR
1,214 m³
Parcel 37017C0127/00W000, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
HWQ Projects
since 19892.041.974.912
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37017C0127/00W000 | Flanders | 1,044 m² | 1 · 205 m² | 10.4 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.
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JUTO INVEST
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FOODTHREE
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Immo Pol Cattebeke
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,760. 13,281 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-01-1989
Fiscal year end30-09
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
70200Business and other management consultancy
70220Business consulting
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.