VHW Projecten
ActiveThe computed 12-month bankruptcy probability of VHW Projecten is 2.6% (moderate). The 2025 annual accounts show equity of €39k and a net result of €-14k. Equity is shrinking by ~20.7% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 55% of 27711 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
37
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency76▼-8
Growth32=
Track record94
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Liquidity ample (current ratio 1.58 against 1.65 in 2024; short-term debt: 48.7% and cash: 0.6% of total assets), and 48.7% 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.
+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
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
Sector 43
higher
← 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 2025Solvency, return and age of the figures
Solvency
51.3%
Return on assets
-18.8%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year €-14k
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 04-05-2026, 4 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 4 filingsDeviation from the deadline
2025
4 d late
2024
2 d early
2023
on the day
2022
69 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€39k▼ 26.8%
2024 · €53k
2022: €76k
2023: €83k
2024: €53k
2022 → 2025
Total assets
€75k▼ 16.5%
2024 · €90k
2022: €98k
2023: €105k
2024: €90k
2022 → 2025
Net result
€-14k▲ 53.1%
2024 · €-30k
2022: €74k
2023: €6k
2024: €-30k
2022 → 2025
Working capital
€21k▼ 13.7%
2024 · €24k
2022: €27k
2023: €44k
2024: €24k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€76k-€83k▲ 8.2%€53k▼ 36.3%€39k▼ 26.8%
Operating result€91k-€5k▼ 94.1%€-32k€-16k▲ 49.1%
Net result€74k-€6k▼ 91.5%€-30k€-14k▲ 53.1%
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 stays negative: a loss of €16k in 2025 against €32k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75k
Fixed assets
€17k▼ 38.1%
Current assets
€58k▼ 6.6%
Equity and liabilities €75k
Equity
€39k▼ 26.8%
Debt
€37k▼ 1.9%
The debt ratio rises from 41.5% to 48.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-6k▲
2024 · €-22k
Cash flow
€-3k▲
2024 · €-19k
Solvency
51.3%▼
2024 · 58.5%
Current ratio
1.58▼
2024 · 1.65
Quick ratio
1.58▼
2024 · 1.65
Debt / equity
0.95▲
2024 · 0.71
ROE
-36.6%▲
2024 · -57.1%
ROA
-18.8%▲
2024 · -33.4%
Interest coverage
-16.71▲
2024 · -30.97
Debt
€37k▼
2024 · €37k
Debt ≤ 1 year
€37k▼
2024 · €37k
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€90k€75k▼
Fixed assets21/28€28k€17k▼
Tangible fixed assets22/27€28k€17k▼
Furniture and vehicles24€28k€17k▼
Current assets29/58€62k€58k▼
Amounts receivable within one year40/41€61k€57k▼
Trade receivables40€9k€11k▲
Other amounts receivable41€52k€46k▼
Cash at bank and in hand54/58€1k€425▼
Equity and liabilities
Total equity and liabilities10/49€90k€75k▼
Equity10/15€53k€39k▼
Contributions10/11€3k€3k=
Reserves13-€36k
Distributable reserves133-€36k
Profit (loss) carried forward14€50k€0▼
Amounts payable17/49€37k€37k▼
Amounts payable within one year42/48€37k€37k▼
Trade debts44€5k€5k▼
Suppliers440/4€5k€5k▼
Taxes, remuneration and social security45€2k€0▼
Taxes450/3€2k€0▼
Other amounts payable47/48€30k€31k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€11k=
Other operating charges640/8€455€589▲
Gross operating margin9900€-21k€-5k▲
Operating profit (loss)9901€-32k€-16k▲
Financial income75/76B€3k€3k▼
Recurring financial income75€3k€3k▼
Financial charges65/66B€698€342▼
Recurring financial charges65€698€342▼
Profit (loss) for the period before taxes9903€-30k€-14k▲
Profit (loss) for the period9904€-30k€-14k▲
Profit (loss) for the period to be appropriated9905€-30k€-14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€50k€36k▼
Profit (loss) brought forward from the previous period14P€80k€50k▼
Transfer to equity691/2-€36k
To other reserves6921-€36k
The notes to these accounts (6 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
04-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Weakest financial yearnet €-30k ▼579%
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Scherpenheuvel-Zichem · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vossekotstraat(Z) 183271 Scherpenheuvel-ZichemGround area
2,950 m²
Building footprint
216 m²
Volume, LiDAR
1,562 m³
Parcel 24129C0121/00G000, Flanders · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
VHW Projecten
since 20202.311.325.601
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24129C0121/00G000 | Flanders | 2,950 m² | 1 · 216 m² | 11.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
MAGA BELGIUM
BE 0806.987.144
Aubange · Eq €39k
A-Z WORKS
BE 0473.692.075
Antwerpen · Eq €39k
PAMEX
BE 0749.448.922
Affligem · Eq €39k
1 homme pour 1 heure
BE 0454.885.359
Sprimont · Eq €39k
ALTERNATIVE
BE 0542.643.437
Etterbeek · Eq €38k
Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 5,911 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-12-2020
Fiscal year end30-09
Activities, NACEBEL
43990Other specialised construction activities
43999Specialised construction activities
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.