SCHELL PROJECTS
ActiveSCHELL PROJECTS has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.36M and a net result of €148k. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 36% of 129 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
64
/ 100
Healthy▲ +24 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability17▲+17
Solvency54▼-7
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
Liquidity tight (current ratio 1.03 against 1.19 in 2024), and 67.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Sector 31
higher
← 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
32.9%
Return on assets
1.1%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
30 d early
2023
30 d early
2022
27 d early
2021
27 d early
2020
33 d late
2019
25 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
10-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€148k
2024 · €-292k
2018: €-310k
2020: €-10k
2021: €-123k
2022: €2.80M
2023: €-156k
2024: €-292k
2018 → 2025
Working capital
€266k▼ 80.1%
2024 · €1.34M
2018: €1.86M
2020: €1.63M
2021: €1.55M
2022: €4.59M
2023: €2.50M
2024: €1.34M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.86M-€4.66M▲ 150%€4.51M▼ 3.3%€4.22M▼ 6.5%€4.36M▲ 3.5%
Operating result€-121k-€3.44M€-197k€-257k▼ 30.3%€93k
Net result€-123k-€2.80M€-156k€-292k▼ 87.2%€148k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €93k after a loss of €257k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.25M
Fixed assets
€4.72M▲ 34.5%
Current assets
€8.54M▲ 2.3%
Equity and liabilities €13.25M
Equity
€4.36M▲ 3.5%
Provisions
€621k▼ 1.8%
Debt
€8.27M▲ 18.1%
The debt ratio rises from 59.1% to 62.4%: debt grows faster than equity.
Key figures and ratios
EBITDA
€181k▲
2024 · €-190k
Cash flow
€237k▲
2024 · €-225k
Solvency
32.9%▼
2024 · 35.6%
Current ratio
1.03▼
2024 · 1.19
Quick ratio
1.03▼
2024 · 1.19
Debt / equity
1.90▲
2024 · 1.66
ROE
3.4%▲
2024 · -6.9%
ROA
1.1%▲
2024 · -2.5%
Interest coverage
0.91▲
2024 · -1.23
Debt
€8.27M▲
2024 · €7.00M
Debt ≤ 1 year
€8.27M▲
2024 · €7.00M
Income taxes
€75k▲
2024 · €47k
Staff costs
€181k▲
2024 · €175k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€11.85M€13.25M▲
Fixed assets21/28€3.51M€4.72M▲
Tangible fixed assets22/27€3.51M€4.71M▲
Land and buildings22€3.46M€4.68M▲
Furniture and vehicles24€41k€31k▼
Financial fixed assets28€4k€4k=
Current assets29/58€8.34M€8.54M▲
Amounts receivable within one year40/41€1.21M€1.22M▲
Trade receivables40€6k€6k=
Other amounts receivable41€1.20M€1.21M▲
Current investments50/53€2.01M€7.18M▲
Cash at bank and in hand54/58€5.13M€133k▼
Deferred charges and accrued income490/1-€12k
Equity and liabilities
Total equity and liabilities10/49€11.85M€13.25M▲
Equity10/15€4.22M€4.36M▲
Contributions10/11€2.38M€2.38M=
Capital10€2.38M€2.38M=
Issued capital100€2.38M€2.38M=
Reserves13€3.06M€3.01M▼
Non-distributable reserves130/1€42k€42k=
Legal reserve130€42k€42k=
Tax-exempt reserves132€3.02M€2.97M▼
Profit (loss) carried forward14€-1.23M€-1.03M▲
Provisions and deferred taxes16€632k€621k▼
Deferred taxes168€632k€621k▼
Amounts payable17/49€7.00M€8.27M▲
Amounts payable within one year42/48€7.00M€8.27M▲
Trade debts44€31k€8k▼
Suppliers440/4€31k€8k▼
Taxes, remuneration and social security45€26k€26k▲
Remuneration and social security454/9€26k€26k▲
Other amounts payable47/48€6.95M€8.24M▲
Income statement
Code20242025
Non-recurring operating income76A-€241k
Remuneration, social security and pensions62€175k€181k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67k€88k▲
Other operating charges640/8€7k€17k▲
Gross operating margin9900€-8k€379k▲
Operating profit (loss)9901€-257k€93k▲
Financial income75/76B€159k€318k▲
Recurring financial income75€159k€308k▲
Non-recurring financial income76B-€10k
Financial charges65/66B€155k€199k▲
Recurring financial charges65€155k€199k▲
Profit (loss) for the period before taxes9903€-253k€213k▲
Transfer from deferred taxes780€8k€11k▲
Income taxes67/77€47k€75k▲
Profit (loss) for the period9904€-292k€148k▲
Transfer from tax-exempt reserves789€38k€54k▲
Profit (loss) for the period to be appropriated9905€-254k€202k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.23M€-1.03M▲
Profit (loss) brought forward from the previous period14P€-974k€-1.23M▼
Social balance
Average headcount (FTE)90870.80.8=
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €148k
Net result €148k after 2 loss-making years.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €2.80M
Net result €2.80M after 3 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 36.95
Current ratio from 12.00 to 36.95; short-term debt falls from €141k to €128k.
31-12
Financial
Equity above €2MEq €4.66M ▲150%
Equity rises from €1.86M to €4.66M.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
02-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 33 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 7.32
Current ratio from 3.52 to 7.32; short-term debt falls from €740k to €257k.
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Oud-Turnhout · 1 establishment unit since 1989
Ground area
1.6 ha
Building footprint
1,585 m²
Volume, LiDAR
9,139 m³
2 parcels, Flanders · tallest building 21.0 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
SHELL PROJECTS NV
since 19892.043.480.093
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13322C1263/00N000 | Flanders | 9,283 m² | 1 · 1,554 m² | 6.6 m · 2 fl. |
| 13483I0375/00H005 | Flanders | 6,476 m² | 1 · 31 m² | 20.9 m · 6 fl. |
Linked by address, not proof of ownership
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.
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Of 443 companies in sector 31001 we hold annual accounts for 207. 55 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-05-1989
Fiscal year end31-12
Activities, NACEBEL
31001Manufacture of furniture
31004Manufacture of dining room, living room, bedroom and bathroom furniture
36122
36141
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.