WELMAN PROJECTS
ActiveThe computed 12-month bankruptcy probability of WELMAN PROJECTS is 1.7% (moderate). The 2025 annual accounts show equity of €60k and a net result of €8k. Equity is growing by ~14.3% per year across the filed fiscal years. Its solvency ranks better than 21% of 27407 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+42
Solvency17▼-4
Growth52=
Stability100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity short (current ratio 0.68 against 0.96 in 2024), and 81.2% 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
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 41
Relative position
BE, all sectors
reference
Sector 41
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
18.8%
Return on assets
2.6%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 27407 sector peers (2025).
NBB · sector comparisonPosition among 27407 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-08-2026, 22 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 · 6 filingsDeviation from the deadline
2025
22 d late
2024
29 d late
2023
29 d late
2022
30 d late
2021
31 d late
2020
24 d late
← 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€60k▲ 16.1%
2024 · €51k
2020: €29k
2021: €35k
2022: €37k
2023: €49k
2024: €51k
2020 → 2025
Total assets
€317k▲ 3.2%
2024 · €307k
2020: €68k
2021: €114k
2022: €147k
2023: €173k
2024: €307k
2020 → 2025
Net result
€8k▲ 196%
2024 · €3k
2020: €29k
2021: €6k
2022: €2k
2023: €12k
2024: €3k
2020 → 2025
Working capital
€-70k▼ 597%
2024 · €-10k
2020: €9k
2021: €6k
2022: €18k
2023: €27k
2024: €-10k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€35k-€37k▲ 5.1%€49k▲ 32.2%€51k▲ 5.7%€60k▲ 16.1%
Operating result€6k-€4k▼ 34.3%€15k▲ 281%€7k▼ 57.1%€16k▲ 144%
Net result€6k-€2k▼ 69.0%€12k▲ 559%€3k▼ 76.4%€8k▲ 196%
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 144% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €317k
Fixed assets
€168k▲ 85.4%
Current assets
€149k▼ 31.2%
Equity and liabilities €317k
Equity
€60k▲ 16.1%
Debt
€257k▲ 0.6%
The debt ratio falls from 83.3% to 81.2%: equity grows faster than debt.
Key figures and ratios
EBITDA
€76k▲
2024 · €49k
Cash flow
€68k▲
2024 · €45k
Solvency
18.8%▲
2024 · 16.7%
Current ratio
0.68▼
2024 · 0.96
Quick ratio
0.57▼
2024 · 0.83
Debt / equity
4.32▼
2024 · 4.98
ROE
13.8%▲
2024 · 5.4%
ROA
2.6%▲
2024 · 0.9%
Interest coverage
10.48▼
2024 · 14.94
Debt
€257k▲
2024 · €256k
Debt ≤ 1 year
€218k▼
2024 · €226k
Debt > 1 year
€39k▲
2024 · €28k
Income taxes
€1k▲
2024 · €809
Staff costs
€278k▲
2024 · €159k
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€307k€317k▲
Fixed assets21/28€91k€168k▲
Tangible fixed assets22/27€91k€168k▲
Plant, machinery and equipment23€33k€28k▼
Furniture and vehicles24€11k€54k▲
Leasing and similar rights25€46k€86k▲
Current assets29/58€216k€149k▼
Stocks and contracts in progress3€29k€25k▼
Stocks30/36€29k€25k▼
Amounts receivable within one year40/41€70k€123k▲
Trade receivables40€28k€98k▲
Other amounts receivable41€42k€26k▼
Cash at bank and in hand54/58€118k-
Deferred charges and accrued income490/1€18-
Equity and liabilities
Total equity and liabilities10/49€307k€317k▲
Equity10/15€51k€60k▲
Contributions10/11€500€500=
Profit (loss) carried forward14€51k€59k▲
Amounts payable17/49€256k€257k▲
Amounts payable after more than one year17€28k€39k▲
Financial debts170/4€28k€39k▲
Amounts payable within one year42/48€226k€218k▼
Current portion of amounts payable after more than one year42€77k€74k▼
Financial debts43-€26k
Credit institutions430/8-€26k
Trade debts44€129k€91k▼
Suppliers440/4€129k€91k▼
Taxes, remuneration and social security45€5k-
Remuneration and social security454/9€5k-
Other amounts payable47/48€16k€28k▲
Accrued charges and deferred income492/3€1k-
Income statement
Code20242025
Remuneration, social security and pensions62€159k€278k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€60k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€380€286▼
Other operating charges640/8€2k€2k▼
Gross operating margin9900€210k€356k▲
Operating profit (loss)9901€7k€16k▲
Financial income75/76B€242€428▲
Recurring financial income75€242€428▲
Financial charges65/66B€3k€7k▲
Recurring financial charges65€3k€7k▲
Profit (loss) for the period before taxes9903€4k€9k▲
Income taxes67/77€809€1k▲
Profit (loss) for the period9904€3k€8k▲
Profit (loss) for the period to be appropriated9905€3k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€51k€59k▲
Profit (loss) brought forward from the previous period14P€48k€51k▲
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
22-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 22 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €2k ▼69%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Bonheiden · 1 establishment unit since 2019
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.
Brughoevestraat 182820 BonheidenGround area
1,635 m²
Building footprint
373 m²
Parcel 12031C0288/00T000, Flanders. Linked by address, not a title deed.
1 establishment unit
WELMAN PROJECTS
since 20192.293.843.528
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12031C0288/00T000 | Flanders | 1,635 m² | 1 · 373 m² | - |
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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 1,390 EUR awarded · 1,221 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 60 EUR | 451 EUR |
| 2024 | 1 | 1,160 EUR | 600 EUR |
| 2023 | 1 | 170 EUR | 170 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 29,551 companies in sector 41001 we hold annual accounts for 15,877. 13,035 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-09-2019
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:info@welmanprojects.be