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WA-RM PROJECTS

Active
Private limited companyfounded 20224 yrs activeCorneel Heymansstraat 6, 8400 Oostende, BelgiumKBO/BCE: BE 0781.958.372
Summary

WA-RM PROJECTS has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €49,523 and a net result of -€12,892. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 31% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability31▼-31
Solvency34▼-16
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.1 against 6.75 in 2024; short-term debt: 90.8% and cash: 0.1% of total assets), and 90.8% 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 4 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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 2025
Solvency, return and age of the figures
Solvency
9.2%
Return on assets
-2.4%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 19-11-2025, 73 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
73 d early
2024
21 d late
2023
6 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 14 February 2022, WA-RM PROJECTS was incorporated as a Private limited company.1 Total assets went from EUR 234,793 in 2023 to EUR 536,151 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2023 and 2025

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Financials · fiscal year 2025, micro schema

Equity
€49,523▼ 20.7%
2024 · €62,415
Total assets
€536,151▲ 113%
2024 · €251,690
Net result
-€12,892
2024 · €24,407
Working capital
€49,523▼ 76.9%
2024 · €214,415
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line202320242025
Operating result€36,295-€51,003▲ 40.5%-€4,324
Net result€18,008within the sector's middle half-€24,407within the sector's middle half▲ 35.5%-€12,892below the sector's middle half
Equity€38,008within the sector's middle half-€62,415within the sector's middle half▲ 64.2%€49,523within the sector's middle half▼ 20.7%
Total assets€234,793within the sector's middle half-€251,690within the sector's middle half▲ 7.2%€536,151within the sector's middle half▲ 113%
Debt€196,785-€189,275▼ 3.8%€486,628▲ 157%
Working capital€38,008-€214,415▲ 464%€49,523▼ 76.9%
Solvency16.2%within the sector's middle half-24.8%within the sector's middle half▲ 8.6pp9.2%within the sector's middle half▼ 15.6pp
above within below the middle half (P25 to P75) of NACE 68, Real estate 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
-€20,000€0€20,000€40,000€60,000Operating result 2023: €36,295€36,295Net result 2023: €18,008€18,008Operating result 2024: €51,003€51,003Net result 2024: €24,407€24,407Operating result 2025: -€4,324-€4,324Net result 2025: -€12,892-€12,892202320242025-€20,000€0€20,000€40,000€60,000Operating result 2023: €36,295€36,300Net result 2023: €18,008€18,000Operating result 2024: €51,003€51,000Net result 2024: €24,407€24,400Operating result 2025: -€4,324-€4,320Net result 2025: -€12,892-€12,900202320242025
The operating result turns negative in 2025: a loss of €4,324 after €51,003 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €536,151
Equity €49,523 ▼ 20.7%
Debt €486,628 ▲ 157%
Debt's share of the balance-sheet total rises from 75.2% to 90.8%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
Current ratio
1.10▼
2024 · 6.75
Quick ratio
0.02▼
2024 · 1.74
Debt to equity
9.83▲
2024 · 3.03
ROE
-26.0%▼
2024 · 39.1%
ROA
-2.4%▼
2024 · 9.7%
Debt ≤ 1 year
€486,628▲
2024 · €37,275
Debt > 1 year
€0▼
2024 · €149,000
Income taxes
€0▼
2024 · €6,102
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 865 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.

  • Small
  • 2 to 5 years old
  • solvency under 10%
  • a small loss
1.3% went bankrupt
1.6% stopped otherwise
97% still going

A further 0.5% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.7%
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 75% 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 865 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet Code20242025
Assets
Total assets20/58€251,690€536,151▲
Current assets29/58€251,690€536,151▲
Stocks and contracts in progress3€187,006€526,997▲
Stocks30/36€187,006€526,997▲
Amounts receivable within one year40/41€3,511€8,511▲
Trade receivables40-€5,000
Other amounts receivable41€3,511€3,511=
Cash at bank and in hand54/58€60,990€518▼
Deferred charges and accrued income490/1€183€125▼
Equity and liabilities
Total equity and liabilities10/49€251,690€536,151▲
Equity10/15€62,415€49,523▼
Contributions10/11€20,000€20,000=
Reserves13€15,000€15,000=
Distributable reserves133€15,000€15,000=
Profit (loss) carried forward14€27,415€14,523▼
Amounts payable17/49€189,275€486,628▲
Amounts payable after more than one year17€149,000€0▼
Financial debts170/4€149,000€0▼
Amounts payable within one year42/48€37,275€486,628▲
Current portion of amounts payable after more than one year42-€149,000
Financial debts43-€205,010
Other loans439-€205,010
Trade debts44€7,918€57,517▲
Suppliers440/4€7,918€57,517▲
Taxes, remuneration and social security45€6,102€0▼
Taxes450/3€6,102€0▼
Other amounts payable47/48€23,255€75,101▲
Accrued charges and deferred income492/3€3,000€0▼
Income statement Code20242025
Other operating charges640/8€1,286€3,395▲
Gross operating margin9900€52,289-€928▼
Operating profit (loss)9901€51,003-€4,324▼
Financial charges65/66B€20,495€8,568▼
Recurring financial charges65€20,495€8,568▼
Profit (loss) for the period before taxes9903€30,509-€12,892▼
Income taxes67/77€6,102€0▼
Profit (loss) for the period9904€24,407-€12,892▼
Profit (loss) for the period to be appropriated9905€24,407-€12,892▼
Appropriation of the result
Profit (loss) to be appropriated9906€27,415€14,523▼
Profit (loss) brought forward from the previous period14P€3,008€27,415▲

The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line202320242025Change
Other operating charges640/8-€1,286€3,395▲ 164%
Gross operating margin9900€36,295€52,289-€928▼ 102%
Operating profit (loss)9901€36,295€51,003-€4,324▼ 108%
Financial charges65/66B€11,909€20,495€8,568▼ 58.2%
Recurring financial charges65€11,909€20,495€8,568▼ 58.2%
Profit (loss) for the period before taxes9903€24,385€30,509-€12,892▼ 142%
Income taxes67/77€6,377€6,102€0▼ 100%
Profit (loss) for the period9904€18,008€24,407-€12,892▼ 153%
Profit (loss) for the period to be appropriated9905€18,008€24,407-€12,892▼ 153%
Line202320242025Change
Assets
Total assets20/58€234,793€251,690€536,151▲ 113%
Current assets29/58€234,793€251,690€536,151▲ 113%
Stocks and contracts in progress3€211,753€187,006€526,997▲ 182%
Stocks30/36€211,753€187,006€526,997▲ 182%
Amounts receivable within one year40/41€22,723€3,511€8,511▲ 142%
Trade receivables40€22,723-€5,000-
Other amounts receivable41-€3,511€3,511=
Cash at bank and in hand54/58€317€60,990€518▼ 99.2%
Deferred charges and accrued income490/1-€183€125▼ 32.0%
Equity and liabilities
Total equity and liabilities10/49€234,793€251,690€536,151▲ 113%
Equity10/15€38,008€62,415€49,523▼ 20.7%
Contributions10/11€20,000€20,000€20,000=
Reserves13€15,000€15,000€15,000=
Distributable reserves133€15,000€15,000€15,000=
Profit (loss) carried forward14€3,008€27,415€14,523▼ 47.0%
Amounts payable17/49€196,785€189,275€486,628▲ 157%
Amounts payable after more than one year17-€149,000€0▼ 100%
Financial debts170/4-€149,000€0▼ 100%
Amounts payable within one year42/48€196,785€37,275€486,628▲ 1,206%
Current portion of amounts payable after more than one year42€156,000-€149,000-
Financial debts43--€205,010-
Other loans439--€205,010-
Trade debts44-€7,918€57,517▲ 626%
Suppliers440/4-€7,918€57,517▲ 626%
Taxes, remuneration and social security45€6,377€6,102€0▼ 100%
Taxes450/3€6,377€6,102€0▼ 100%
Other amounts payable47/48€34,408€23,255€75,101▲ 223%
Accrued charges and deferred income492/3-€3,000€0▼ 100%
Line202320242025Change
Profit (loss) for the period9904€18,008€24,407-€12,892▼ 153%
Operating cash flow (approximation)€18,008€24,407-€12,892▼ 153%
Change in cash-€60,673-€60,472▼ 200%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-01-2027
2025
19-11
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
30-06
Financial Weakest financial yearnet -€12,892
Net result drops to -€12,892, the lowest in the series.
21-02
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
30-06
Financial Highest result since 2023net €24,407 ▲35.5%
Operating result €51,003, net result €24,407, both a record.
30-06
Financial Liquidity times 6current ratio 6.75
Current ratio from 1.19 to 6.75; short-term debt falls from €196,785 to €37,275.
06-02
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts

We know of 2 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
2 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, Oostende · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
2,196 m²
Building footprint
656 m²
Volume, LiDAR
3,110 m³
Parcel 35020B0068/00G000, Flanders · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
3 companies at this address See who is registered here
1 establishment unit
Corneel Heymansstraat 6, 8400 Oostende
Real estate activities
since 20242.383.235.956
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
35020B0068/00G000 Flanders 2,196 m² 1 · 656 m² 6.3 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.

Structure & network

Owners and holdings

1 owner

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 7,326 companies in sector 68110 we hold annual accounts for 5,390. 3,267 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
Founded14-02-2022
Fiscal year end30-06
Activities, NACEBEL 2025
68110Buying and selling of own real estate
77110Renting and leasing of cars and light motor vehicles
77229Renting and leasing of other personal and household goods
E-invoicing
Reachable via Peppol
Peppol ID 0208:0781958372
Registered 05-08-2026

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.