P&W Projects
ActiveSummary
P&W Projects has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €58k and a net result of €-32k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability16▼-16
Solvency29▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 8.76 against 15.98 in 2023; short-term debt: 11.4% and cash: 2.8% of total assets), but 96.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
3.5%
Return on assets
-2%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
2021222324
2020 to 2024 · latest year €-32k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 19356 sector peers (2024).
NBB · sector comparisonPosition among 19356 sector peers
Solvency
better than 24%
← weakest
strongest →
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 20-06-2025, 41 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
41 d early
2023
29 d early
2022
40 d early
2021
45 d late
2020
46 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€58k▼ 35.9%
2023 · €90k
2020: €-36klowest in 5 years
2021: €42k▲ +217% vs 2020
2022: €122k▲ +187% vs 2021highest in 5 years
2023: €90k▼ -25.8% vs 2022
2024: €58k▼ -35.9% vs 2023
2020 → 2024
Total assets
€1.65M▲ 23.6%
2023 · €1.33M
2020: €766k
2021: €1.62M▲ +112% vs 2020
2022: €658k▼ -59.5% vs 2021lowest in 5 years
2023: €1.33M▲ +102% vs 2022
2024: €1.65M▲ +23.6% vs 2023highest in 5 years
2020 → 2024
Net result
€-32k▼ 3.5%
2023 · €-31k
2020: €-38klowest in 5 years
2021: €79k▲ +306% vs 2020
2022: €79k▲ +0.9% vs 2021highest in 5 years
2023: €-31k▼ -140% vs 2022
2024: €-32k▼ -3.5% vs 2023
2020 → 2024
Working capital
€1.46M▲ 16.7%
2023 · €1.25M
2020: €740k
2021: €761k▲ +2.8% vs 2020
2022: €507k▼ -33.4% vs 2021lowest in 5 years
2023: €1.25M▲ +146% vs 2022
2024: €1.46M▲ +16.7% vs 2023highest in 5 years
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-36k-€42k€122k▲ 187%€90k▼ 25.8%€58k▼ 35.9%
2020: €-36klowest in 5 years
2021: €42k▲ +217% vs 2020
2022: €122k▲ +187% vs 2021highest in 5 years
2023: €90k▼ -25.8% vs 2022
2024: €58k▼ -35.9% vs 2023
Operating result€-30k-€112k€113k▲ 0.4%€-19k€-13k▲ 32.6%
2020: €-30klowest in 5 years
2021: €112k▲ +469% vs 2020
2022: €113k▲ +0.4% vs 2021highest in 5 years
2023: €-19k▼ -117% vs 2022
2024: €-13k▲ +32.6% vs 2023
Net result€-38k-€79k€79k▲ 0.9%€-31k€-32k▼ 3.5%
2020: €-38klowest in 5 years
2021: €79k▲ +306% vs 2020
2022: €79k▲ +0.9% vs 2021highest in 5 years
2023: €-31k▼ -140% vs 2022
2024: €-32k▼ -3.5% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €13k in 2024 against €19k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.65M
Fixed assets
€1k
Current assets
€1.64M
Equity and liabilities €1.65M
Equity
€58k ▼ 35.9%
Debt
€1.59M ▲ 28.0%
Debt's share of the balance-sheet total rises from 93.2% to 96.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-13k
Cash flow
€-32k
Current ratio
8.76▼
2023 · 15.98
Quick ratio
0.86▼
2023 · 3.33
Debt to equity
27.38▲
2023 · 13.71
ROE
-56.0%▼
2023 · -34.7%
ROA
-2.0%▲
2023 · -2.4%
Interest coverage
-0.65
Debt ≤ 1 year
€188k▲
2023 · €83k
Debt > 1 year
€1.40M▲
2023 · €1.16M
Income taxes
€0▼
2023 · €5
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 43 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.33M€1.65M▲
Formation expenses20€0€0=
Fixed assets21/28-€1k
Tangible fixed assets22/27-€1k
Plant, machinery and equipment23-€1k
Current assets29/58€1.33M€1.64M▲
Stocks and contracts in progress3€1.05M€1.48M▲
Stocks30/36€1.05M€1.48M▲
Amounts receivable within one year40/41€107k€115k▲
Trade receivables40€1k€2k▲
Other amounts receivable41€105k€113k▲
Cash at bank and in hand54/58€171k€47k▼
Equity and liabilities
Total equity and liabilities10/49€1.33M€1.65M▲
Equity10/15€90k€58k▼
Contributions10/11€2k€2k=
Reserves13€120k€120k=
Non-distributable reserves130/1€120k€120k=
Reserves not available under the articles1311€120k€120k=
Profit (loss) carried forward14€-31k€-64k▼
Amounts payable17/49€1.24M€1.59M▲
Amounts payable after more than one year17€1.16M€1.40M▲
Financial debts170/4€550k€647k▲
Other amounts payable178/9€607k€752k▲
Amounts payable within one year42/48€83k€188k▲
Current portion of amounts payable after more than one year42-€180k
Trade debts44€83k€8k▼
Suppliers440/4€82k€6k▼
Bills of exchange payable441€2k€1k▼
Income statement
Code20232024
Non-recurring operating income76A€5k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€341
Other operating charges640/8€1k€4k▲
Gross operating margin9900€-18k€-9k▲
Operating profit (loss)9901€-19k€-13k▲
Financial income75/76B€436€71▼
Recurring financial income75€436€71▼
Financial charges65/66B€13k€20k▲
Recurring financial charges65€13k€20k▲
Profit (loss) for the period before taxes9903€-31k€-32k▼
Income taxes67/77€5€0▼
Profit (loss) for the period9904€-31k€-32k▼
Profit (loss) for the period to be appropriated9905€-31k€-32k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-31k€-64k▼
Profit (loss) brought forward from the previous period14P€110€-31k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €960 | - | - | - | €341 | - |
| Other operating charges640/8 | - | €2k | €274 | €1k | €4k | ▲ 183% |
| Gross operating margin9900 | €-29k | €114k | €113k | €-18k | €-9k | ▲ 50.3% |
| Operating profit (loss)9901 | €-30k | €112k | €113k | €-19k | €-13k | ▲ 32.6% |
| Financial income75/76B | - | €7k | €312 | €436 | €71 | ▼ 83.8% |
| Recurring financial income75 | €251 | €7k | €312 | €436 | €71 | ▼ 83.8% |
| Financial charges65/66B | - | €22k | €7k | €13k | €20k | ▲ 56.0% |
| Recurring financial charges65 | €8k | €22k | €7k | €13k | €20k | ▲ 56.0% |
| Profit (loss) for the period before taxes9903 | €-38k | €98k | €106k | €-31k | €-32k | ▼ 3.5% |
| Income taxes67/77 | - | €19k | €26k | €5 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €-38k | €79k | €79k | €-31k | €-32k | ▼ 3.5% |
| Profit (loss) for the period to be appropriated9905 | €-38k | €79k | €79k | €-31k | €-32k | ▼ 3.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €766k | €1.62M | €658k | €1.33M | €1.65M | ▲ 23.6% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | - | - | - | - | €1k | - |
| Tangible fixed assets22/27 | - | - | - | - | €1k | - |
| Plant, machinery and equipment23 | - | - | - | - | €1k | - |
| Current assets29/58 | €766k | €1.62M | €658k | €1.33M | €1.64M | ▲ 23.5% |
| Stocks and contracts in progress3 | €574k | €725k | €360k | €1.05M | €1.48M | ▲ 40.7% |
| Stocks30/36 | - | €725k | €360k | €1.05M | €1.48M | ▲ 40.7% |
| Amounts receivable within one year40/41 | €22k | €16k | €171k | €107k | €115k | ▲ 7.8% |
| Trade receivables40 | - | €16k | €379 | €1k | €2k | ▲ 27.0% |
| Other amounts receivable41 | - | €312 | €171k | €105k | €113k | ▲ 7.6% |
| Cash at bank and in hand54/58 | €170k | €883k | €126k | €171k | €47k | ▼ 72.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €766k | €1.62M | €658k | €1.33M | €1.65M | ▲ 23.6% |
| Equity10/15 | €-36k | €42k | €122k | €90k | €58k | ▼ 35.9% |
| Contributions10/11 | - | €2k | €2k | €2k | €2k | = |
| Reserves13 | - | €40k | €120k | €120k | €120k | = |
| Non-distributable reserves130/1 | - | €40k | €120k | €120k | €120k | = |
| Reserves not available under the articles1311 | - | €40k | €120k | €120k | €120k | = |
| Profit (loss) carried forward14 | €-38k | €83 | €110 | €-31k | €-64k | ▼ 104% |
| Amounts payable17/49 | €802k | €1.58M | €536k | €1.24M | €1.59M | ▲ 28.0% |
| Amounts payable after more than one year17 | €776k | €719k | €385k | €1.16M | €1.40M | ▲ 21.0% |
| Financial debts170/4 | - | €434k | €100k | €550k | €647k | ▲ 17.7% |
| Other amounts payable178/9 | - | €285k | €285k | €607k | €752k | ▲ 23.9% |
| Amounts payable within one year42/48 | €26k | €863k | €151k | €83k | €188k | ▲ 125% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €180k | - |
| Trade debts44 | €26k | €153k | €25k | €83k | €8k | ▼ 90.7% |
| Suppliers440/4 | - | €153k | €25k | €82k | €6k | ▼ 92.2% |
| Bills of exchange payable441 | - | - | - | €2k | €1k | ▼ 13.7% |
| Advances received on contracts in progress46 | - | €6k | - | - | - | - |
| Taxes, remuneration and social security45 | - | €198k | €29k | - | - | - |
| Taxes450/3 | - | €198k | €29k | - | - | - |
| Other amounts payable47/48 | - | €506k | €97k | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-38k | €79k | €79k | €-31k | €-32k | ▼ 3.5% |
| + Depreciation and write-downs630 | €960 | - | - | - | €341 | - |
| Operating cash flow (approximation) | €-37k | €79k | €79k | €-31k | €-32k | ▼ 2.4% |
| Change in cash | - | €712k | €-757k | €45k | €-124k | ▼ 377% |
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
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity quadruplescurrent ratio 15.98
Current ratio from 4.35 to 15.98; short-term debt falls from €151k to €83k.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2020net €79k ▲0.9%
Operating result €113k, net result €79k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.35
Current ratio from 1.88 to 4.35; short-term debt falls from €863k to €151k.
31-12
Financial
Equity above €100kEq €122k ▲187%
2 profitable years in a row build equity to €122k.
14-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 45 days late
2021
31-12
Financial
Back to profitnet €79k
Net result €79k after one loss-making year.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
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, Berlare · 1 establishment unit since 2019
Ground area
2,790 m²
Building footprint
303 m²
Volume, LiDAR
1,500 m³
Parcel 42017D0384/00D000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
P&W Projects
since 20192.295.700.384
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42017D0384/00D000 | Flanders | 2,790 m² | 1 · 303 m² | 8.1 m · 2 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 9,693 companies in sector 68121 we hold annual accounts for 7,385. 5,120 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
Founded03-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68110Buying and selling of own real estate
68202Real estate activities
Scores and ratios are computed by Checked and are not a credit decision.