WF Projects
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 4% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €1,983 | €45,311 |
| Financial fixed assets | - | €134 |
| Depreciation and write-downs of the year | €144 | €995 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €144 | €995 | ▲ 589% |
| Other operating charges640/8 | €1,193 | €7,143 | ▲ 499% |
| Gross operating margin9900 | €62,896 | €66,991 | ▲ 6.5% |
| Operating profit (loss)9901 | €61,559 | €58,853 | ▼ 4.4% |
| Financial income75/76B | €0 | €369 | ▲ 18,427× |
| Recurring financial income75 | €0 | €369 | ▲ 18,427× |
| Financial charges65/66B | €74 | €2,483 | ▲ 34× |
| Recurring financial charges65 | €74 | €2,483 | ▲ 34× |
| Profit (loss) for the period before taxes9903 | €61,486 | €56,739 | ▼ 7.7% |
| Income taxes67/77 | €12,292 | €11,337 | ▼ 7.8% |
| Profit (loss) for the period9904 | €49,193 | €45,401 | ▼ 7.7% |
| Profit (loss) for the period to be appropriated9905 | €49,193 | €45,401 | ▼ 7.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €68,729 | €152,601 | ▲ 122% |
| Fixed assets21/28 | €1,838 | €46,288 | ▲ 25× |
| Tangible fixed assets22/27 | €1,838 | €46,154 | ▲ 25× |
| Land and buildings22 | - | €42,282 | - |
| Plant, machinery and equipment23 | €1,529 | €2,416 | ▲ 58.0% |
| Furniture and vehicles24 | €309 | €1,456 | ▲ 371% |
| Financial fixed assets28 | - | €134 | - |
| Current assets29/58 | €66,891 | €106,313 | ▲ 58.9% |
| Amounts receivable within one year40/41 | €26,592 | €37,908 | ▲ 42.6% |
| Trade receivables40 | €19,679 | €23,396 | ▲ 18.9% |
| Other amounts receivable41 | €6,913 | €14,512 | ▲ 110% |
| Cash at bank and in hand54/58 | €40,299 | €68,405 | ▲ 69.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €68,729 | €152,601 | ▲ 122% |
| Equity10/15 | €59,193 | €104,594 | ▲ 76.7% |
| Contributions10/11 | €10,000 | €10,000 | = |
| Reserves13 | €49,193 | €94,594 | ▲ 92.3% |
| Distributable reserves133 | €49,193 | €94,594 | ▲ 92.3% |
| Amounts payable17/49 | €9,536 | €48,007 | ▲ 403% |
| Amounts payable after more than one year17 | - | €33,890 | - |
| Financial debts170/4 | - | €33,890 | - |
| Amounts payable within one year42/48 | €9,536 | €14,116 | ▲ 48.0% |
| Current portion of amounts payable after more than one year42 | - | €3,143 | - |
| Trade debts44 | €870 | €3,681 | ▲ 323% |
| Suppliers440/4 | €870 | €3,681 | ▲ 323% |
| Taxes, remuneration and social security45 | €7,292 | €7,292 | = |
| Taxes450/3 | €7,292 | €7,292 | = |
| Other amounts payable47/48 | €1,374 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €49,193 | €45,401 | ▼ 7.7% |
| + Depreciation and write-downs630 | €144 | €995 | ▲ 589% |
| Operating cash flow (approximation) | €49,338 | €46,396 | ▼ 6.0% |
| Investment in fixed assets (approximation) | - | -€45,445 | - |
| Change in cash | - | €28,106 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as WF Projects has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WF Projects itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for WF Projects. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.