IW PROJECTS
ActiveSummary
IW PROJECTS has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€42,287) and a net result of -€52,287. Its solvency ranks better than 18% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-10-2024 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201
- Establishment unit
- 2.365.277.395 9930 Lievegem, since 16-10-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 15-11-2024
Board and ownership
- IMSCHOOT CharlotteDirector · since 16-10-2024
- WITTEVRONGEL AnthonyDirector · since 16-10-2024
- RAILPOWER50%· score 9731-03-2026 annual accounts of RAILPOWER
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.1%
- Gross margin
- €65,820
- Turnover
- ≈ €85,000
- estimated
- Loss
- €52,287
- Equity
- -€42,287
- Total assets
- €2.0m
- Negative equity on 31-12-2025
- 2025 accounts filed 52 days after the deadline
Score breakdownraises riskCapped at 59: negative equityLiquidity: current ratio 0.07, cash €1,986Last filed accounts filed 52 days late; 1 of the last 3 accounts latelowers riskSize: total assets €2.0mSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small). It does better than 12% of them on solvency, 56% on liquidity and 16% on profitability.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 52 days after the deadline Filed on 21 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00521407.
Annual accounts 2025 filed on 21-09-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2025 |
|---|---|
| Carrying value of the mortgaged assets | €1.8m |
Source: notes to the 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2025 |
|---|---|
| Tangible fixed assets | €2.1m |
| Depreciation and write-downs of the year | €44,075 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €44,075 |
| Other operating charges640/8 | €10,605 |
| Gross operating margin9900 | €65,820 |
| Operating profit (loss)9901 | €11,140 |
| Financial income75/76B | €0 |
| Recurring financial income75 | €0 |
| Financial charges65/66B | €63,426 |
| Recurring financial charges65 | €63,426 |
| Profit (loss) for the period before taxes9903 | -€52,287 |
| Profit (loss) for the period9904 | -€52,287 |
| Profit (loss) for the period to be appropriated9905 | -€52,287 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €2.0m | |
| Formation expenses20 | €0.003m | |
| Fixed assets21/28 | €2.0m | |
| Tangible fixed assets22/27 | €2.0m | |
| Land and buildings22 | €2.0m | |
| Current assets29/58 | €0.004m | |
| Cash at bank and in hand54/58 | €0.002m | |
| Deferred charges and accrued income490/1 | €0.002m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €2.0m | |
| Equity10/15 | -€0.04m | |
| Contributions10/11 | €0.01m | |
| Profit (loss) carried forward14 | -€0.05m | |
| Amounts payable17/49 | €2.1m | |
| Amounts payable after more than one year17 | €2.0m | |
| Financial debts170/4 | €2.0m | |
| Other amounts payable178/9 | €0.008m | |
| Amounts payable within one year42/48 | €0.06m | |
| Current portion of amounts payable after more than one year42 | €0.06m | |
| Trade debts44 | €153 | |
| Suppliers440/4 | €153 | |
| Taxes, remuneration and social security45 | €0.002m | |
| Taxes450/3 | €0.002m | |
| Accrued charges and deferred income492/3 | €0.003m | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€52,287 |
| + Depreciation and write-downs630 | €44,075 |
| Operating cash flow (approximation) | -€8,211 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,251 companies had the same profile as IW PROJECTS has now. Two years later, 96.6% were still going and 1.0% had gone bankrupt.
- Small
- 2 to 5 years old
- negative equity
- a small loss
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IW PROJECTS itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 1,251 companies, not a prediction for IW PROJECTS. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 21-09-2026 | 2026-00521407 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerOwners 1
- Equity €753,064 Profit of €149,555 in 2026 (profit of €19,055 in 2025) Checked score 9750%
Capital transactions
- RAILPOWER (BE 0700.234.387) 50 shares (50%) · €5,000
- WITTEVRONGEL Anthony 50 shares (50%) · €5,000
- 18-10-2024 Incorporation · €10,000 · 100 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| IMSCHOOT Charlotte |
|
| WITTEVRONGEL Anthony |
|
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 18-10-2024 (in Dutch)
Network & group
Companies at the same address
2 other companiesConnections & network
2 current directorsThe network starts from the directors of IW PROJECTS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
18-10
Gazette deed
IncorporationStarting capital €10,000 · Appointments: IMSCHOOT Charlotte (director) and WITTEVRONGEL Anthony (director) · Founder11 points ▸
- Incorporation, “IW PROJECTS” (deed in Dutch)
- Founder, RAILPOWER, mentioned 2 times in the deed
- Founder, WITTEVRONGEL Anthony
- Founding capital, €10,000
- Other provision, “bewijs van deponering en financieel plan, ten kantore in dossier van vennootschap” (deed in Dutch)
- Other provision, “statutenvermelding, statuten vermelden onder meer” (deed in Dutch)
- Registered office clause, “9930 Lievegem (Zomergem),Durmstraat 80, slechts uitwerking vanaf neerlegging ter griffie van uitgifte” (deed in Dutch)
- Board rule, 2, “slechts uitwerking vanaf neerlegging ter griffie van uitgifte” (deed in Dutch)
- Director appointment, IMSCHOOT Charlotte (director (not named in the articles))
- Director appointment, WITTEVRONGEL Anthony (director (not named in the articles))
- Other provision, “persoonlijk of via tussenpersoon, geen bestuursverbod” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44080C0905/00H000 | Flanders | 2,644 m² | 1 · 177 m² | 12.0 m · 2 |