REI PROJECTS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 11-07-2026 at the NBB all 16 filings
Every figure per financial year
The operating result for 2025 is 24% higher than in 2024. It is a recovery after the fall in 2024.
- 2024 Equity +62% on 2023. Merger absorbing STRAK WERK, effective 31-12-2024.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 11 | 14 | 18 | 23 |
| full-time | 8 | 11 | 14 | 17 | 21 |
| part-time | - | - | - | 1 | 2 |
| in full-time equivalents | 8 | 11 | 14 | 17.3 | 22.2 |
| Average over the year, in full-time equivalents | 8.4 | 9.2 | 11.3 | 15.4 | 19.2 |
| On a permanent contract | 8 | 9 | 11 | 16 | 18 |
| Joined | 3 | 6 | 7 | 6 | 11 |
| Left | 4 | 3 | 4 | 2 | 6 |
| Agency workers, average number | - | 0.4 | 0.2 | 0.1 | - |
| Training hours | - | - | 128 | - | 217 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | €475,000 | €350,000 | - | - |
| Pledge on the business | - | €410,000 | €410,000 | €110,000 | €110,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €66,448 | €108,251 | €350,413 | €169,878 | €181,796 |
| Intangible fixed assets | €8,102 | €3,050 | €5,756 | €8,812 | - |
| Depreciation and write-downs of the year | €41,918 | €53,205 | €66,281 | €98,912 | €126,466 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is VRC BEDRIJFSREVISOREN.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | - | €3,500 | €4,500 | €3,250 | €3,205 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · €1,699 awarded · €1,633 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €617 | €551 |
| 2024 | 1 | €731 | €731 |
| 2023 | 1 | €351 | €351 |
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €4.2m | €6.2m | €6.9m | €9.0m | ▲ 29.8% |
| Turnover70 | - | €4.1m | - | - | €4.1m | €6.0m | €6.5m | €8.6m | ▲ 32.4% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | -€0.08m | €0.05m | €0.3m | €0.3m | ▼ 10.0% |
| Other operating income74 | - | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 11.5% |
| Non-recurring operating income76A | - | - | - | - | €0.001m | €0.005m | €0.006m | - | - |
| Operating charges60/66A | - | - | - | - | €3.8m | €5.4m | €6.4m | €8.4m | ▲ 30.2% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €2.1m | €3.2m | €3.6m | €4.9m | ▲ 37.5% |
| Purchases600/8 | - | - | - | - | €2.2m | €3.2m | €3.6m | €4.9m | ▲ 36.3% |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€0.09m | €0.02m | -€0.06m | -€0.04m | ▲ 30.1% |
| Services and other goods61 | - | - | - | - | €0.9m | €1.3m | €1.6m | €1.9m | ▲ 16.9% |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.6m | €0.8m | €1.1m | €1.5m | ▲ 27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.03m | €0.04m | €0.04m | €0.05m | €0.07m | €0.1m | €0.1m | ▲ 27.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.007m | €0.02m | -€0.003m | €0.001m | -€0.04m | - |
| Other operating charges640/8 | - | - | - | €0.007m | €0.001m | €0.003m | €0.003m | €0.03m | ▲ 953% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.01m | - | - | - |
| Gross operating margin9900 | €1.2m | €1.0m | €1.3m | €1.1m | - | - | - | - | - |
| Operating profit (loss)9901 | €0.6m | €0.5m | €0.8m | €0.4m | €0.4m | €0.8m | €0.5m | €0.6m | ▲ 23.8% |
| Financial income75/76B | - | - | - | €0.001m | €0.008m | €0.01m | €0.02m | €0.01m | ▼ 26.6% |
| Recurring financial income75 | €0.002m | €0.009m | €68 | €0.001m | €0.008m | €0.01m | €0.02m | €0.01m | ▼ 26.6% |
| Other financial income752/9 | - | - | - | - | €0.008m | €0.01m | €0.02m | €0.01m | ▼ 26.6% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.04m | €0.05m | €0.06m | ▲ 11.7% |
| Recurring financial charges65 | €0.02m | €0.01m | €0.02m | €0.02m | €0.02m | €0.04m | €0.05m | €0.06m | ▲ 11.7% |
| Debt charges650 | - | - | - | - | €0.01m | €0.03m | €0.04m | €0.05m | ▲ 4.6% |
| Other financial charges652/9 | - | - | - | - | €0.009m | €0.009m | €0.007m | €0.01m | ▲ 55.8% |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.5m | €0.7m | €0.4m | €0.4m | €0.7m | €0.5m | €0.6m | ▲ 23.4% |
| Income taxes67/77 | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 2.9% |
| Taxes670/3 | - | - | - | - | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 2.9% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €7 | €0 | - | €46 | - |
| Profit (loss) for the period9904 | €0.4m | €0.4m | €0.6m | €0.3m | €0.3m | €0.5m | €0.3m | €0.4m | ▲ 36.8% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.4m | €0.6m | €0.3m | €0.3m | €0.5m | €0.3m | €0.4m | ▲ 36.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.8m | €2.0m | €2.8m | €3.3m | €4.0m | €2.5m | €3.1m | €3.7m | ▲ 20.6% |
| Fixed assets21/28 | €0.04m | €0.09m | €0.1m | €0.1m | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 10.3% |
| Intangible fixed assets21 | €0.007m | €0.001m | €0.007m | €0.01m | €0.009m | €0.008m | €0.006m | €0.001m | ▼ 75.1% |
| Tangible fixed assets22/27 | €0.04m | €0.08m | €0.1m | €0.1m | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 11.6% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.007m | €0.01m | €0.03m | €0.05m | ▲ 30.8% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.006m | €0.003m | €0.001m | €0.009m | ▲ 961% |
| Leasing and similar rights25 | - | - | - | €0.08m | €0.1m | €0.3m | €0.3m | €0.4m | ▲ 8.0% |
| Other tangible fixed assets26 | - | - | - | €0.005m | €0.01m | €0.01m | €0.009m | €0.008m | ▼ 14.3% |
| Financial fixed assets28 | €130 | €130 | €130 | €130 | €130 | €130 | €130 | €130 | = |
| Other financial fixed assets284/8 | - | - | - | - | €130 | €130 | €130 | €130 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €130 | €130 | €130 | €130 | = |
| Current assets29/58 | €1.8m | €1.9m | €2.7m | €3.2m | €3.8m | €2.2m | €2.7m | €3.3m | ▲ 22.2% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.1m | €0.3m | €0.3m | €0.4m | €0.7m | €1.0m | ▲ 42.3% |
| Stocks30/36 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 18.7% |
| Goods purchased for resale34 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 18.7% |
| Contracts in progress37 | - | - | - | €0.2m | €0.1m | €0.2m | €0.5m | €0.7m | ▲ 53.9% |
| Amounts receivable within one year40/41 | €1.4m | €1.4m | €2.2m | €2.8m | €3.4m | €1.7m | €1.8m | €2.0m | ▲ 13.5% |
| Trade receivables40 | - | - | - | €0.9m | €1.5m | €1.5m | €1.6m | €1.9m | ▲ 16.5% |
| Other amounts receivable41 | - | - | - | €1.9m | €1.9m | €0.2m | €0.2m | €0.1m | ▼ 14.6% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.2m | €0.1m | €0.09m | €0.1m | €0.2m | €0.2m | ▲ 23.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | - | - | - | €0.003m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.8m | €2.0m | €2.8m | €3.3m | €4.0m | €2.5m | €3.1m | €3.7m | ▲ 20.6% |
| Equity10/15 | €0.7m | €0.7m | €1.3m | €1.6m | €1.9m | €0.4m | €0.7m | €1.1m | ▲ 57.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.08m | €0.08m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.08m | €0.08m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.08m | €0.08m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.008m | €0.008m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.008m | €0.008m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.008m | €0.008m | = |
| Profit (loss) carried forward14 | €0.6m | €0.7m | €1.2m | €1.5m | €1.8m | €0.4m | €0.6m | €1.0m | ▲ 65.5% |
| Amounts payable17/49 | €1.1m | €1.2m | €1.5m | €1.8m | €2.1m | €2.1m | €2.3m | €2.6m | ▲ 9.3% |
| Amounts payable after more than one year17 | €0.3m | €0.4m | €0.4m | €0.5m | €0.09m | €0.2m | €1.1m | €0.9m | ▼ 17.1% |
| Financial debts170/4 | - | - | - | €0.5m | €0.09m | €0.2m | €1.1m | €0.9m | ▼ 17.1% |
| Leasing and similar obligations172 | - | - | - | - | €0.09m | €0.2m | €0.3m | €0.3m | ▼ 0.4% |
| Other loans174 | - | - | - | - | - | - | €0.8m | €0.6m | ▼ 22.5% |
| Amounts payable within one year42/48 | €0.8m | €0.8m | €1.1m | €1.3m | €2.0m | €1.8m | €1.3m | €1.7m | ▲ 32.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 38.7% |
| Financial debts43 | - | - | - | - | €0.5m | €0.4m | - | - | - |
| Credit institutions430/8 | - | - | - | - | €0.5m | €0.4m | - | - | - |
| Trade debts44 | €0.5m | €0.5m | €0.6m | €0.6m | €0.9m | €1.0m | €0.9m | €1.0m | ▲ 11.8% |
| Suppliers440/4 | - | - | - | €0.6m | €0.9m | €1.0m | €0.9m | €1.0m | ▲ 11.8% |
| Advances received on contracts in progress46 | - | - | - | €0.02m | €0.04m | €0.02m | €0.04m | €0.2m | ▲ 391% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 39.1% |
| Taxes450/3 | - | - | - | €0.07m | €0.04m | €0.02m | €0.02m | €0.03m | ▲ 18.8% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.06m | €0.09m | €0.1m | €0.1m | ▲ 43.6% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.4m | €0.1m | - | €0.02m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €428,142 | €360,720 | €552,035 | €293,584 | €290,022 | €536,838 | €302,706 | €414,206 | ▲ 36.8% |
| + Depreciation and write-downs630 | €42,706 | €30,432 | €40,144 | €41,918 | €53,205 | €66,281 | €98,912 | €126,466 | ▲ 27.9% |
| Operating cash flow (approximation) | €470,848 | €391,152 | €592,179 | €335,502 | €343,227 | €603,119 | €401,619 | €540,673 | ▲ 34.6% |
| Investment in fixed assets (approximation) | - | -€71,614 | -€58,389 | -€53,490 | -€108,561 | -€227,485 | -€163,666 | -€167,570 | ▼ 2.4% |
| Change in cash | - | €80,676 | -€91,960 | -€62,505 | -€14,599 | €51,965 | €51,718 | €44,945 | ▼ 13.1% |
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, 17,811 companies had the same profile as REI PROJECTS has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of REI PROJECTS itself: 0.2% 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 17,811 companies, not a prediction for REI 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.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 11-07-2026 | 2026-00281709 | |
| 31-12-2024 | full format | 16-07-2025 | 2025-00281432 | |
| 31-12-2023 | full format | 30-09-2024 | 2024-00484489 | |
| 31-12-2022 | full format | 26-07-2023 | 2023-00287530 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20423335 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-63500201 | |
| 31-12-2019 | abbreviated format | 06-10-2020 | 2020-59800028 | |
| 31-12-2018 | abbreviated format | 28-08-2019 | 2019-56100040 | |
| 30-09-2017 | abbreviated format | 16-05-2018 | 2018-13000089 | |
| 30-09-2016 | abbreviated format | 15-05-2017 | 2017-12100271 |