Bert VdBOUW
ActiveSummary
Bert VdBOUW has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €48,352 and a net result of €13,013. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 28806 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▲+13
Solvency41▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity short (current ratio 0.07 against 0.42 in 2024; short-term debt: 15.9% of total assets), and 84.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
15.8%
Return on assets
4.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 28806 sector peers (2025).
NBB · sector comparisonPosition among 28806 sector peers
Solvency
better than 18%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €48,352
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
28 d late
2024
39 d early
2023
27 d late
2022
40 d early
2021
26 d early
2020
1 d early
2019
69 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 5 July (5 of the last 5 filed years within 54 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
Bert VdBOUW was incorporated on 15 November 2017.1 The name was changed to RUW PROJECTS in 2026.2 The registered office was moved to Antwerpen in 2026.2 The board currently has 2 members; Bert VdBouw has served longest, since 2026.2 Total assets rose from EUR 101,908 in 2018 to EUR 305,868 in 2025.3
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Financials · fiscal year 2025, micro schema
Equity
€48,352▲ 36.8%
2024 · €35,339
Total assets
€305,868▼ 12.3%
2024 · €348,812
Net result
€13,013▲ 179%
2024 · €4,671
Working capital
-€45,342▲ 4.3%
2024 · -€47,401
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€7,777▲ 89.8%€6,041▼ 22.3%€32,214▲ 433%€16,907▼ 47.5%€28,049▲ 65.9%
Net result€5,852within the sector's middle half▲ 77.8%€1,517within the sector's middle half▼ 74.1%€20,803within the sector's middle half▲ 1,271%€4,671within the sector's middle half▼ 77.5%€13,013within the sector's middle half▲ 179%
Equity€8,348below the sector's middle half▲ 235%€9,865below the sector's middle half▲ 18.2%€30,668within the sector's middle half▲ 211%€35,339within the sector's middle half▲ 15.2%€48,352within the sector's middle half▲ 36.8%
Total assets€22,913below the sector's middle half▲ 85.8%€311,673above the sector's middle half▲ 1,260%€352,442above the sector's middle half▲ 13.1%€348,812above the sector's middle half▼ 1.0%€305,868above the sector's middle half▼ 12.3%
Debt€14,566▲ 48.1%€301,807▲ 1,972%€321,775▲ 6.6%€313,473▼ 2.6%€257,516▼ 17.9%
Working capital€8,348within the sector's middle half▲ 381%€9,669within the sector's middle half▲ 15.8%-€46,226below the sector's middle half-€47,401below the sector's middle half▼ 2.5%-€45,342below the sector's middle half▲ 4.3%
Solvency36.4%within the sector's middle half▲ 16.2pp3.2%below the sector's middle half▼ 33.3pp8.7%below the sector's middle half▲ 5.5pp10.1%below the sector's middle half▲ 1.4pp15.8%below the sector's middle half▲ 5.7pp
Current ratio1.57within the sector's middle half▲ 0.401.17within the sector's middle half▼ 0.410.33below the sector's middle half▼ 0.840.42below the sector's middle half▲ 0.090.07below the sector's middle half▼ 0.36
Return on assets (ROA)25.5%above the sector's middle half▼ 1.2pp0.5%below the sector's middle half▼ 25.1pp5.9%within the sector's middle half▲ 5.4pp1.3%within the sector's middle half▼ 4.6pp4.3%within the sector's middle half▲ 2.9pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 66% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €305,868
Fixed assets
€302,668 ▼ 3.6%
Current assets
€3,200 ▼ 90.8%
Equity and liabilities €305,868
Equity
€48,352 ▲ 36.8%
Debt
€257,516 ▼ 17.9%
Debt's share of the balance-sheet total falls from 89.9% to 84.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€43,899▲
2024 · €35,193
Cash flow
€28,864▲
2024 · €22,957
Debt to equity
5.33▼
2024 · 8.87
ROE
26.9%▲
2024 · 13.2%
Interest coverage
3.88▲
2024 · 2.72
Debt ≤ 1 year
€48,542▼
2024 · €82,081
Debt > 1 year
€208,974▼
2024 · €231,392
Income taxes
€3,830▲
2024 · -€574
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,275 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.5%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,275 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €7,615 | €21 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €4,477 | €11,571 | €18,286 | €15,851 | ▼ 13.3% |
| Other operating charges640/8 | €610 | €3,002 | €1,097 | €1,818 | €1,663 | ▼ 8.5% |
| Non-recurring operating charges66A | - | - | - | - | €779 | - |
| Gross operating margin9900 | €8,387 | €13,520 | €44,881 | €37,011 | €46,341 | ▲ 25.2% |
| Operating profit (loss)9901 | €7,777 | €6,041 | €32,214 | €16,907 | €28,049 | ▲ 65.9% |
| Financial income75/76B | €2 | €7 | €63 | €151 | €96 | ▼ 36.4% |
| Recurring financial income75 | €2 | €7 | €63 | €151 | €96 | ▼ 36.4% |
| Financial charges65/66B | €271 | €3,956 | €11,474 | €12,961 | €11,302 | ▼ 12.8% |
| Recurring financial charges65 | €271 | €3,956 | €11,474 | €12,961 | €11,302 | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €7,508 | €2,092 | €20,803 | €4,097 | €16,843 | ▲ 311% |
| Income taxes67/77 | €1,656 | €574 | - | -€574 | €3,830 | ▲ 767% |
| Profit (loss) for the period9904 | €5,852 | €1,517 | €20,803 | €4,671 | €13,013 | ▲ 179% |
| Profit (loss) for the period to be appropriated9905 | €5,852 | €1,517 | €20,803 | €4,671 | €13,013 | ▲ 179% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22,913 | €311,673 | €352,442 | €348,812 | €305,868 | ▼ 12.3% |
| Fixed assets21/28 | - | €243,482 | €329,779 | €314,132 | €302,668 | ▼ 3.6% |
| Tangible fixed assets22/27 | - | €243,482 | €329,779 | €314,132 | €302,668 | ▼ 3.6% |
| Land and buildings22 | - | €150,000 | €150,000 | €282,929 | €275,530 | ▼ 2.6% |
| Plant, machinery and equipment23 | - | €1,068 | €7,663 | €7,683 | €9,900 | ▲ 28.9% |
| Furniture and vehicles24 | - | €5,496 | €31,808 | €23,519 | €17,238 | ▼ 26.7% |
| Assets under construction and advance payments27 | - | €86,918 | €140,308 | - | - | - |
| Current assets29/58 | €22,913 | €68,191 | €22,663 | €34,680 | €3,200 | ▼ 90.8% |
| Amounts receivable within one year40/41 | €10,274 | €65,588 | €22,663 | €34,680 | €2,536 | ▼ 92.7% |
| Trade receivables40 | €8,426 | €12,465 | €20,014 | €33,761 | - | - |
| Other amounts receivable41 | €1,847 | €53,123 | €2,649 | €919 | €2,536 | ▲ 176% |
| Cash at bank and in hand54/58 | €12,640 | - | - | - | - | - |
| Deferred charges and accrued income490/1 | - | €2,603 | - | - | €664 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22,913 | €311,673 | €352,442 | €348,812 | €305,868 | ▼ 12.3% |
| Equity10/15 | €8,348 | €9,865 | €30,668 | €35,339 | €48,352 | ▲ 36.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,342 | €1,342 | €1,342 | €1,342 | €1,342 | = |
| Distributable reserves133 | €1,342 | €1,342 | €1,342 | €1,342 | €1,342 | = |
| Profit (loss) carried forward14 | €806 | €2,324 | €23,126 | €27,797 | €40,811 | ▲ 46.8% |
| Amounts payable17/49 | €14,566 | €301,807 | €321,775 | €313,473 | €257,516 | ▼ 17.9% |
| Amounts payable after more than one year17 | - | €243,286 | €252,886 | €231,392 | €208,974 | ▼ 9.7% |
| Financial debts170/4 | - | €243,286 | €252,886 | €231,392 | €208,974 | ▼ 9.7% |
| Amounts payable within one year42/48 | €14,566 | €58,521 | €68,889 | €82,081 | €48,542 | ▼ 40.9% |
| Current portion of amounts payable after more than one year42 | - | €11,714 | €20,607 | €21,494 | €22,418 | ▲ 4.3% |
| Financial debts43 | - | €16,047 | €21,427 | €14,546 | €7,523 | ▼ 48.3% |
| Credit institutions430/8 | - | €16,047 | €21,427 | €14,546 | €7,523 | ▼ 48.3% |
| Trade debts44 | €10,068 | €26,058 | €23,628 | €24,560 | €5,238 | ▼ 78.7% |
| Suppliers440/4 | €10,068 | €26,058 | €23,628 | €24,560 | €5,238 | ▼ 78.7% |
| Taxes, remuneration and social security45 | €2,693 | €2,230 | €574 | - | €3,830 | - |
| Taxes450/3 | €2,693 | €2,230 | €574 | - | €3,830 | - |
| Other amounts payable47/48 | €1,805 | €2,472 | €2,653 | €21,481 | €9,533 | ▼ 55.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,852 | €1,517 | €20,803 | €4,671 | €13,013 | ▲ 179% |
| + Depreciation and write-downs630 | - | €4,477 | €11,571 | €18,286 | €15,851 | ▼ 13.3% |
| Operating cash flow (approximation) | €5,852 | €5,995 | €32,374 | €22,957 | €28,864 | ▲ 25.7% |
| Investment in fixed assets (approximation) | - | - | -€97,868 | -€2,639 | -€4,387 | ▼ 66.3% |
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
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
29-04
State Gazette act
Resignation: VAN dEN BRANDE Bert (non-statutory director)Appointments: Bert VdBouw (director) and THEUSSEN (director) · Permanent representatives: VAN dEN BRANDE Bert Pieter Maria and MATTHEUSSEN Maarten Luc Karin · Name change12 facts ▸
State Gazette act
Resignation: VAN dEN BRANDE Bert (non-statutory director)
Appointments: Bert VdBouw (director) and THEUSSEN (director) · Permanent representatives: VAN dEN BRANDE Bert Pieter Maria and MATTHEUSSEN Maarten Luc Karin · Name change12 facts ▸
- General meeting, 15-04-2026
- Name change, RUW PROJECTS
- Statutes amendment, 1
- Registered-office move, Smallandlaan 31c, 2660 Antwerpen (Hoboken)
- Director resignation, VAN dEN BRANDE Bert (non-statutory director)
- Director appointment, Bert VdBouw (director)
- Permanent representative, VAN dEN BRANDE Bert Pieter Maria (permanent representative)
- Director appointment, THEUSSEN (director)
- Permanent representative, MATTHEUSSEN Maarten Luc Karin (permanent representative)
- Declaration, aanwezigheid, aanvaarding en afwezigheid van verbod, aangestelde bestuurders en vaste vertegenwoordigers aanwezig, aanvaarden en bevestigen geen tegenstelling t…
- Power of attorney
- Power of attorney, Erik Houben
2025
22-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Highest result since 2018net €20,803 ▲1,271%
Operating result €32,214, net result €20,803, both a record.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €3,292
Net result €3,292 after one loss-making year.
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
31-12
Financial
Weakest financial yearnet -€8,338
Net result drops to -€8,338, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Board 2
Bert VdBouw
CurrentDirector · since 29-04-2026 · Limited partnership · perm. rep.: VAN dEN BRANDE Bert Pieter Maria
Theussen
CurrentDirector · since 29-04-2026 · Limited partnership · perm. rep.: MATTHEUSSEN Maarten Luc Karin
Permanent representatives 2
MATTHEUSSEN Maarten Luc Karin
CurrentPermanent representative · since 29-04-2026 · for Theussen
VAN dEN BRANDE Bert Pieter Maria
CurrentPermanent representative · since 29-04-2026 · for Bert VdBouw
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2017
Ground area
3,926 m²
Building footprint
1,568 m²
Volume, LiDAR
987 m³
2 parcels, Flanders · tallest building 11.8 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
BertVdBouw
since 20172.271.363.084
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11382A0393/00C000 | Flanders | 3,612 m² | 1 · 1,404 m² | - |
| 11383B0275/00E039 | Flanders | 314 m² | 1 · 164 m² | 11.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Bert VdBouw |
|
| Theussen |
|
| VAN dEN BRANDE Bert |
|
Structure & network
Connections & network
2 current directorsThe group is listed under Ownership & control below; here you explore it as a network.
This company
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Director
Shareholding
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Company details
Identification
Legal formPrivate limited company
Founded15-11-2017
Fiscal year end31-12
Legal name NL
Ruw Projects
Activities, NACEBEL 2025
43990Other specialised construction activities
41003General construction of other non-residential buildings
43211General electrical installation work
43310Plastering work
43331Floor and wall tiling
43410Roofing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0684708350
Also
9925:BE0684708350
Registered
02-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.