Checked.be
Active
BE 0884.760.061Private limited company
JVL-Projects
Fabriekstraat (BAA) 47 A ·9200 Dendermonde, Belgium· 19 yrs active
Sector: Construction of roads and motorways
(42110)
Conclusion
JVL-Projects has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €192k and a net result of €39k. Equity is growing by ~36.7% per year across the filed fiscal years. Its solvency ranks better than 12% of 385 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €192k |
| Net result | €39k |
| Staff (FTE) | 24 |
| Better than sector | 12% |
Financial profile
67
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
48
Profitability
100
Solvency
11
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2006, 19 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
48
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€9k
estimate, not credit advice
Score history
85
2022
56
2023
48
2024
48
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.82 (< 1.0)
-10
Leverage
Debt/equity 15.92 (> 3.0)
-10
Profitability
ROE 20% (≥ 10%)
+10
Interest coverage
Interest coverage 3.8× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 16-04-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~36.7%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 42, Civil engineering · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 5.9% | 39.7% | |
| Net result | €39k | €53k | |
| Equity | €192k | €398k | |
| Gross operating margin | €1.90M | €417k | |
| Staff costs | €1.40M | €375k |
€483k
+24.3%
22-25
€39k
-8.6%
22-25
€356k
+14.6%
22-25
€3.25M
+18.9%
22-25
€192k
+25.6%
22-25
€-396k
-43.5%
22-25
24
+17.6%
22-25
€1.40M
+19.1%
22-25
€9k
-35.5%
22-25
€3.05M
+18.5%
22-25
€2.23M
+23.2%
22-25
€822k
+7.3%
22-25
0.82
-3.0%
22-25
0.71
+8.1%
22-25
5.9%
+5.6%
22-25
15.92
-5.6%
22-25
20.4%
-27.2%
22-25
1.2%
-23.1%
22-25
3.79
-31.4%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €483k | €389k | €298k | - |
| Net profit | €39k | €43k | €79k | €25k |
| Cash flow | €356k | €311k | €236k | - |
| Staff costs | €1.40M | €1.18M | €694k | - |
| Income taxes | €9k | €15k | €32k | €2k |
| Dividends | - | - | - | - |
| Total assets | €3.25M | €2.73M | €2.18M | €33k |
| Equity | €192k | €153k | €110k | €31k |
| Debt | €3.05M | €2.58M | €2.07M | €2k |
| of which ≤ 1y | €2.23M | €1.81M | €1.14M | €2k |
| of which > 1y | €822k | €766k | €921k | - |
| Working capital | €-396k | €-276k | €-140k | €31k |
| Employees (FTE) | 24.0 | 20.4 | 13.4 | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 0.82 | 0.85 | 0.88 | 18.16 |
| Quick ratio | 0.71 | 0.65 | 0.72 | 18.16 |
| Working capital ratio | -12.2% | -10.1% | -6.5% | 94.5% |
| Solvency | 5.9% | 5.6% | 5.1% | 94.5% |
| Debt / equity | 15.92 | 16.87 | 18.77 | 0.06 |
| Long-term debt ratio | 4.28 | 5.01 | 8.37 | - |
| Interest coverage | 3.79 | 5.52 | 9.99 | - |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 1.2% | 1.6% | 3.6% | 75.6% |
| ROE | 20.4% | 27.9% | 72.0% | 80.0% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €3.25M | €2.73M | €2.18M | €33k |
| Fixed assets | 21/28 | €1.41M | €1.19M | €1.17M | - |
| Intangible fixed assets | 21 | €58k | €84k | €110k | - |
| Tangible fixed assets | 22/27 | €1.35M | €1.11M | €1.06M | - |
| Financial fixed assets | 28 | €2k | €2k | €2k | - |
| Current assets | 29/58 | €1.84M | €1.54M | €1.00M | €33k |
| Stocks & contracts in progress | 3 | €259k | €352k | €184k | - |
| Amounts receivable within one year | 40/41 | €1.48M | €1.04M | €639k | €30k |
| Cash & bank | 54/58 | €80k | €119k | €175k | €2k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €3.25M | €2.73M | €2.18M | €33k |
| Equity | 10/15 | €192k | €153k | €110k | €31k |
| Contributions / capital | 10/11 | €30k | €30k | €30k | €30k |
| Reserves | 13 | €161k | €122k | €80k | €424 |
| Accumulated profits (losses) | 14 | €481 | €481 | €481 | €377 |
| Amounts payable | 17/49 | €3.05M | €2.58M | €2.07M | €2k |
| Amounts payable after one year | 17 | €822k | €766k | €921k | - |
| Amounts payable within one year | 42/48 | €2.23M | €1.81M | €1.14M | €2k |
| Trade debts payable within one year | 44 | €1.41M | €1.08M | €651k | €182 |
| Income statement | |||||
| Gross operating margin | 9900 | €1.90M | €1.58M | €997k | €28k |
| Operating result | 9901 | €166k | €121k | €141k | €27k |
| Financial income | 75 | €10k | €7k | €670 | - |
| Financial charges | 65 | €128k | €70k | €30k | €945 |
| Result before taxes | 9903 | €49k | €57k | €112k | €26k |
| Income taxes | 67/77 | €9k | €15k | €32k | €2k |
| Net result for the period | 9904 | €39k | €43k | €79k | €25k |
| Result to be appropriated | 9905 | €39k | €43k | €79k | €25k |
Legal Structure
| NACE primary | Construction of roads and motorways(42110) |
| Legal form | Private limited company(610) |
| Incorporation | 06-11-2006 |
| Status | Active |
| Postal code | 9200 |
Establishment units
JVL-Projects
since 20062.239.073.566
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42002C0430/00X000 | Flanders | 1,792 m² | 1 · 337 m² | 10.3 m · 2 fl. |
| 42002C0495/00F004 | Flanders | 750 m² | 1 · 227 m² | 8.8 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
16-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €150kEq €153k ▲38.8%
3 profitable years in a row build equity to €153k.
20-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2022net €79k ▲222%
Net result €79k, the highest in the series.
31-12
Financial
Equity above €100kEq €110k ▲257%
2 profitable years in a row build equity to €110k.
01-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
24-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-07
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.
Belgian State Gazette reading coverage
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Construction of roads and motorways42110Other specialised construction activities43990Specialised construction activities43999
Names & trade names
| Legal nameNL | JVL-Projects |
| AbbreviationNL | JVL Projects en J.V.L. Projects |
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