TW PROJECTS
ActiveSummary
TW PROJECTS has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €405,419 and a net result of €15,393. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 1532 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+6
Solvency100=
Growth64▼-5
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 14.72 against 13.16 in 2024; short-term debt: 4.8% and cash: 63.9% of total assets), and 4.8% of the assets are financed with debt.
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Signals
Four 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 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% 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
95.2%
Return on assets
3.6%
Age of the figures
9 mo
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
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 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
73 d early
2023
71 d early
2022
67 d early
2021
74 d early
2020
66 d early
2019
58 d early
← 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 67 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€204,564▼ 22.8%
2024 · €264,960
EBIT margin
12.4%▲ 4.5pp
2024 · 8.0%
Net result
€15,393▲ 12.4%
2024 · €13,693
Working capital
€278,566▲ 11.1%
2024 · €250,768
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€233,342▼ 19.0%€293,530▲ 25.8%€352,402▲ 20.1%€264,960▼ 24.8%€204,564▼ 22.8%
Operating result€20,438▼ 48.4%€48,684▲ 138%€79,140▲ 62.6%€21,121▼ 73.3%€25,439▲ 20.4%
Net result€9,967within the sector's middle half▼ 61.1%€31,831above the sector's middle half▲ 219%€57,660above the sector's middle half▲ 81.1%€13,693within the sector's middle half▼ 76.3%€15,393within the sector's middle half▲ 12.4%
EBIT margin8.8%▼ 5.0pp16.6%▲ 7.8pp22.5%▲ 5.9pp8.0%▼ 14.5pp12.4%▲ 4.5pp
Equity€326,617above the sector's middle half▲ 3.1%€318,673above the sector's middle half▼ 2.4%€376,333above the sector's middle half▲ 18.1%€390,026within the sector's middle half▲ 3.6%€405,419above the sector's middle half▲ 3.9%
Total assets€351,223within the sector's middle half▲ 2.0%€403,379within the sector's middle half▲ 14.8%€448,096within the sector's middle half▲ 11.1%€410,642below the sector's middle half▼ 8.4%€425,718within the sector's middle half▲ 3.7%
Debt€24,606▼ 11.6%€84,706▲ 244%€71,763▼ 15.3%€20,616▼ 71.3%€20,299▼ 1.5%
Working capital€181,215▲ 12.5%€178,181▼ 1.7%€230,151▲ 29.2%€250,768▲ 9.0%€278,566▲ 11.1%
Solvency93.0%above the sector's middle half▲ 1.1pp79.0%above the sector's middle half▼ 14.0pp84.0%above the sector's middle half▲ 5.0pp95.0%above the sector's middle half▲ 11.0pp95.2%above the sector's middle half▲ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 20% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €425,718
Fixed assets
€126,853 ▼ 8.9%
Current assets
€298,865 ▲ 10.1%
Equity and liabilities €425,718
Equity
€405,419 ▲ 3.9%
Debt
€20,299 ▼ 1.5%
Debt's share of the balance-sheet total falls from 5.0% to 4.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34,141▲
2024 · €33,272
Cash flow
€24,095▼
2024 · €25,844
Current ratio
14.72▲
2024 · 13.16
Debt to equity
0.05▼
2024 · 0.05
ROE
3.8%▲
2024 · 3.5%
ROA
3.6%▲
2024 · 3.3%
Interest coverage
11.96▲
2024 · 11.74
Debt ≤ 1 year
€20,299▼
2024 · €20,616
Income taxes
€12,726▲
2024 · €6,569
Staff costs
€109,263▼
2024 · €113,407
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
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 0.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 10,891 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €233,342 | €293,530 | €352,402 | €264,960 | €204,564 | ▼ 22.8% |
| Non-recurring operating income76A | €2,409 | €1,400 | €21,205 | €380 | €19,070 | ▲ 4,918% |
| Goods, raw materials, services and sundry goods60/61 | €131,762 | €171,136 | €195,008 | €117,127 | €78,132 | ▼ 33.3% |
| Remuneration, social security and pensions62 | €71,389 | €65,351 | €88,122 | €113,407 | €109,263 | ▼ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,293 | €7,910 | €9,145 | €12,151 | €8,702 | ▼ 28.4% |
| Other operating charges640/8 | €1,869 | €1,849 | €2,192 | €1,534 | €2,098 | ▲ 36.8% |
| Gross operating margin9900 | €103,989 | €123,794 | €178,599 | €148,213 | €145,502 | ▼ 1.8% |
| Operating profit (loss)9901 | €20,438 | €48,684 | €79,140 | €21,121 | €25,439 | ▲ 20.4% |
| Financial income75/76B | €20 | - | €346 | €1,975 | €5,535 | ▲ 180% |
| Recurring financial income75 | €20 | - | €346 | €1,975 | €5,535 | ▲ 180% |
| Financial charges65/66B | €1,176 | €953 | €1,000 | €2,834 | €2,855 | ▲ 0.7% |
| Recurring financial charges65 | €1,176 | €953 | €1,000 | €2,834 | €2,855 | ▲ 0.7% |
| Profit (loss) for the period before taxes9903 | €19,282 | €47,731 | €78,486 | €20,262 | €28,119 | ▲ 38.8% |
| Income taxes67/77 | €9,315 | €15,900 | €20,826 | €6,569 | €12,726 | ▲ 93.7% |
| Profit (loss) for the period9904 | €9,967 | €31,831 | €57,660 | €13,693 | €15,393 | ▲ 12.4% |
| Profit (loss) for the period to be appropriated9905 | €9,967 | €31,831 | €57,660 | €13,693 | €15,393 | ▲ 12.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €351,223 | €403,379 | €448,096 | €410,642 | €425,718 | ▲ 3.7% |
| Fixed assets21/28 | €145,402 | €140,492 | €146,182 | €139,258 | €126,853 | ▼ 8.9% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €145,402 | €140,492 | €146,182 | €139,258 | €126,853 | ▼ 8.9% |
| Land and buildings22 | €140,537 | €134,494 | €128,452 | €122,409 | €116,366 | ▼ 4.9% |
| Plant, machinery and equipment23 | €592 | €3,037 | €2,678 | €2,379 | €4,355 | ▲ 83.1% |
| Furniture and vehicles24 | €4,273 | €2,961 | €15,052 | €14,470 | €6,132 | ▼ 57.6% |
| Current assets29/58 | €205,821 | €262,887 | €301,914 | €271,384 | €298,865 | ▲ 10.1% |
| Amounts receivable within one year40/41 | €42,363 | €67,788 | €63,910 | €26,314 | €20,961 | ▼ 20.3% |
| Trade receivables40 | €42,319 | €67,788 | €63,910 | €26,314 | €20,026 | ▼ 23.9% |
| Other amounts receivable41 | €44 | - | - | - | €935 | - |
| Cash at bank and in hand54/58 | €153,552 | €185,240 | €229,658 | €237,820 | €272,100 | ▲ 14.4% |
| Deferred charges and accrued income490/1 | €9,906 | €9,859 | €8,346 | €7,250 | €5,804 | ▼ 19.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €351,223 | €403,379 | €448,096 | €410,642 | €425,718 | ▲ 3.7% |
| Equity10/15 | €326,617 | €318,673 | €376,333 | €390,026 | €405,419 | ▲ 3.9% |
| Contributions10/11 | €6,667 | €6,667 | €6,667 | €6,667 | €6,667 | = |
| Reserves13 | €77,663 | €69,719 | €127,379 | €141,072 | €156,465 | ▲ 10.9% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Tax-exempt reserves132 | €321 | €321 | €321 | €321 | €321 | = |
| Distributable reserves133 | €75,342 | €67,398 | €125,058 | €138,751 | €154,144 | ▲ 11.1% |
| Profit (loss) carried forward14 | €242,287 | €242,287 | €242,287 | €242,287 | €242,287 | = |
| Amounts payable17/49 | €24,606 | €84,706 | €71,763 | €20,616 | €20,299 | ▼ 1.5% |
| Amounts payable within one year42/48 | €24,606 | €84,706 | €71,763 | €20,616 | €20,299 | ▼ 1.5% |
| Trade debts44 | €14,200 | €51,928 | €24,941 | €762 | €115 | ▼ 84.9% |
| Suppliers440/4 | €14,200 | €51,928 | €24,941 | €762 | €115 | ▼ 84.9% |
| Taxes, remuneration and social security45 | €8,196 | €30,458 | €44,724 | €16,647 | €16,169 | ▼ 2.9% |
| Taxes450/3 | €8,196 | €30,458 | €36,731 | €8,659 | €10,959 | ▲ 26.6% |
| Remuneration and social security454/9 | - | - | €7,993 | €7,988 | €5,210 | ▼ 34.8% |
| Other amounts payable47/48 | €2,210 | €2,320 | €2,098 | €3,207 | €4,015 | ▲ 25.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,967 | €31,831 | €57,660 | €13,693 | €15,393 | ▲ 12.4% |
| + Depreciation and write-downs630 | €10,293 | €7,910 | €9,145 | €12,151 | €8,702 | ▼ 28.4% |
| Operating cash flow (approximation) | €20,260 | €39,741 | €66,805 | €25,844 | €24,095 | ▼ 6.8% |
| Investment in fixed assets (approximation) | - | -€3,000 | -€14,835 | -€5,227 | €3,703 | ▲ 171% |
| Change in cash | - | €31,688 | €44,418 | €8,162 | €34,280 | ▲ 320% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
19-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity triplescurrent ratio 13.16
Current ratio from 4.21 to 13.16; short-term debt falls from €71,763 to €20,616.
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €57,660 ▲81.1%
Operating result €79,140, net result €57,660, both a record.
25-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
18-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €24,286
Net result €24,286 after one loss-making year.
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Puurs-Sint-Amands · 1 establishment unit since 2008
Ground area
1,100 m²
Building footprint
144 m²
Volume, LiDAR
885 m³
Parcel 12008B0241/00M000, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TW PROJECTS
since 20082.168.145.186
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12008B0241/00M000 | Flanders | 1,100 m² | 1 · 144 m² | 9.4 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 976 companies in sector 77210 we hold annual accounts for 217. 132 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
Founded17-01-2008
Fiscal year end31-12
Activities, NACEBEL 2025
77210Renting and leasing of sports and recreation goods
68310Real estate agency activities
70200Business and other management consultancy
82990Other business support services
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0895061560
Also
9925:BE0895061560
Registered
19-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.