LWS Projects
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 10 filings
Every figure per financial year
The operating result for 2025 is a loss of €7,800, after a profit of €6,003 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Intangible fixed assets | - | - | €1,162 | €2,335 |
| Depreciation and write-downs of the year | - | - | €19 | €234 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | €19 | €234 | ▲ 12× |
| Other operating charges640/8 | - | - | - | €1,867 | €1,878 | €1,104 | €1,148 | ▲ 4.0% |
| Gross operating margin9900 | -€2,347 | -€71 | €123,061 | €34,854 | €152,388 | €7,126 | -€6,418 | - |
| Operating profit (loss)9901 | -€2,810 | -€126 | €118,469 | €32,987 | €150,510 | €6,003 | -€7,800 | - |
| Financial charges65/66B | - | - | - | €12,510 | €10,014 | €1,676 | €9,479 | ▲ 465% |
| Recurring financial charges65 | €5,829 | €6,349 | €6,976 | €12,510 | €10,014 | €1,676 | €9,479 | ▲ 465% |
| Profit (loss) for the period before taxes9903 | -€8,639 | -€6,475 | €111,493 | €20,478 | €140,495 | €4,327 | -€17,279 | - |
| Income taxes67/77 | - | - | €27,582 | €5,870 | €40,484 | €1,144 | - | - |
| Profit (loss) for the period9904 | -€8,639 | -€6,475 | €83,911 | €14,608 | €100,011 | €3,182 | -€17,279 | - |
| Profit (loss) for the period to be appropriated9905 | -€8,639 | -€6,475 | €83,911 | €14,608 | €100,011 | €3,182 | -€17,279 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €339,261 | €326,600 | €560,663 | €281,801 | €294,719 | €433,881 | €402,471 | ▼ 7.2% |
| Fixed assets21/28 | - | - | €8,000 | €8,000 | - | €1,142 | €3,244 | ▲ 184% |
| Intangible fixed assets21 | - | - | - | - | - | €1,142 | €3,244 | ▲ 184% |
| Financial fixed assets28 | - | - | €8,000 | €8,000 | - | - | - | - |
| Current assets29/58 | €339,261 | €326,600 | €552,663 | €273,801 | €294,719 | €432,739 | €399,227 | ▼ 7.7% |
| Stocks and contracts in progress3 | €320,035 | €323,619 | €243,825 | €189,369 | €167,285 | €381,478 | €312,603 | ▼ 18.1% |
| Stocks30/36 | - | - | - | €189,369 | €167,285 | €381,478 | €312,603 | ▼ 18.1% |
| Amounts receivable within one year40/41 | - | €1,950 | €307,800 | €77,000 | €10,000 | €18,856 | - | - |
| Trade receivables40 | - | - | - | €77,000 | - | - | - | - |
| Other amounts receivable41 | - | - | - | - | €10,000 | €18,856 | - | - |
| Cash at bank and in hand54/58 | €19,226 | €1,031 | €1,038 | €3,442 | €117,434 | €32,405 | €86,624 | ▲ 167% |
| Deferred charges and accrued income490/1 | - | - | - | €3,990 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €339,261 | €326,600 | €560,663 | €281,801 | €294,719 | €433,881 | €402,471 | ▼ 7.2% |
| Equity10/15 | €15,100 | €8,624 | €92,536 | €107,144 | €207,154 | €210,336 | €193,057 | ▼ 8.2% |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €5,139 | €5,139 | €73,936 | €88,544 | €188,554 | €188,554 | €188,554 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €86,684 | €186,694 | €188,554 | €188,554 | = |
| Profit (loss) carried forward14 | -€8,639 | -€15,114 | - | - | - | €3,182 | -€14,097 | - |
| Amounts payable17/49 | €324,162 | €317,975 | €468,127 | €174,657 | €87,565 | €223,544 | €209,414 | ▼ 6.3% |
| Amounts payable after more than one year17 | €315,000 | €315,000 | €20,000 | €80,000 | - | €192,000 | €192,000 | = |
| Financial debts170/4 | - | - | - | €80,000 | - | €192,000 | €192,000 | = |
| Amounts payable within one year42/48 | €9,162 | €2,975 | €448,127 | €94,657 | €87,565 | €31,544 | €17,414 | ▼ 44.8% |
| Financial debts43 | - | - | - | - | €10,136 | €10,114 | - | - |
| Credit institutions430/8 | - | - | - | - | €10,136 | €10,114 | - | - |
| Trade debts44 | €509 | €2,895 | €67,726 | €13,863 | €5,719 | €15,588 | €5,022 | ▼ 67.8% |
| Suppliers440/4 | - | - | - | €13,863 | €5,719 | €15,588 | €5,022 | ▼ 67.8% |
| Taxes, remuneration and social security45 | - | - | - | €9,718 | €12,803 | €88 | - | - |
| Taxes450/3 | - | - | - | €7,920 | €10,870 | €88 | - | - |
| Remuneration and social security454/9 | - | - | - | €1,798 | €1,933 | - | - | - |
| Other amounts payable47/48 | - | - | - | €71,076 | €58,907 | €5,756 | €12,392 | ▲ 115% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,639 | -€6,475 | €83,911 | €14,608 | €100,011 | €3,182 | -€17,279 | - |
| + Depreciation and write-downs630 | - | - | - | - | - | €19 | €234 | ▲ 12× |
| Operating cash flow (approximation) | -€8,639 | -€6,475 | €83,911 | €14,608 | €100,011 | €3,201 | -€17,046 | - |
| Investment in fixed assets (approximation) | - | - | - | €0 | - | - | -€2,335 | - |
| Change in cash | - | -€18,195 | €8 | €2,404 | €113,992 | -€85,029 | €54,219 | - |
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, 6,908 companies had the same profile as LWS Projects has now. Two years later, 90.9% were still going and 1.1% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LWS Projects itself: 0.1% 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 6,908 companies, not a prediction for LWS 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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00028654 | |
| 30-06-2024 | micro format | 30-01-2025 | 2025-00023760 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00027107 | |
| 30-06-2022 | micro format | 28-11-2022 | 2022-20527566 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-04000528 | |
| 30-06-2020 | micro format | 26-01-2021 | 2021-01900233 | |
| 30-06-2019 | micro format | 15-01-2020 | 2020-01500210 | |
| 30-06-2018 | micro format | 15-01-2019 | 2019-01600071 | |
| 30-06-2017 | micro format | 15-01-2018 | 2018-01200556 | |
| 30-06-2016 | abbreviated format | 23-12-2016 | 2016-71300453 |