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WOLF-PROJECTS

Active
Public limited companyfounded 2012active for 14 yearsLeuvenstraat 3, 2000 Antwerpen, Belgium37 active companies are registered at this addressKBO/BCE: BE 0848.142.561
Summary

WOLF-PROJECTS has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.9m and a net result of €4.0m. Equity is growing by about 2.6% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.2% (very low).

Financials · financial year 2025, abbreviated format

Turnover
€2.9m▼ 49.4%
2020 · €5.7m
EBIT margin
41.7%▲ 21.6pp
2020 · 20.2%
Net result
€4.0m▲ 233%
2024 · €1.2m
Working capital
€8.5m▲ 28.2%
2024 · €6.6m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

After the dip in 2022 the operating result has climbed three years in a row; 2025 is 124% above 2024 and is the highest result in the available series.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Turnover€2.9m 2021 Operating result€5.0m 2025 Net result€4.0m 2025

Use the arrow keys on the chart for the figures per year.

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€3.4m-€2.2m▼ 35.9%€5.7m▲ 165%€2.9m▼ 49.4%
Operating result€0.6m-€0.8m▲ 28.9%€1.1m▲ 49.1%€1.2m▲ 4.8%€0.6m▼ 46.3%€0.9m▲ 38.7%€2.2m▲ 148%€5.0m▲ 124%
Net result€1.1m-€0.3m▼ 74.8%€0.5m▲ 75.3%€0.8m▲ 65.0%€1.5m▲ 88.9%€0.6m▼ 62.4%€1.2m▲ 118%€4.0m▲ 233%
EBIT margin17.8%-35.7%▲ 18.0pp20.2%▼ 15.6pp41.7%▲ 21.6pp
Equity€2.5m-€2.8m▲ 10.7%€3.3m▲ 16.9%€4.1m▲ 23.9%€4.5m▲ 11.8%€3.6m▼ 20.8%€2.8m▼ 22.0%€2.9m▲ 4.6%
Total assets€14.7m-€16.8m▲ 14.1%€16.1m▼ 3.9%€10.8m▼ 33.2%€11.2m▲ 4.2%€13.5m▲ 20.0%€20.9m▲ 55.6%€22.0m▲ 4.8%
Debt€12.2m-€14.0m▲ 14.8%€12.8m▼ 8.0%€6.7m▼ 47.8%€6.7m▼ 0.3%€9.9m▲ 47.7%€18.1m▲ 83.8%€19.0m▲ 4.9%
Working capital€6.0m-€5.7m▼ 4.7%-€1.4m-€1.2m▲ 9.2%-€0.9m▲ 26.6%€0.08m€6.6m▲ 86×€8.5m▲ 28.2%
Staff (FTE)0
Why a figure moved sharply
  • 2025 Net result +233% on 2024. Merger absorbing Amerikalei, Official Gazette 13-11-2025.
  • 2022 Net result +89% on 2021. The accounts now follow the abbreviated format, last year the full format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22.0m
Fixed assets €2.9m ▼ 49.7%
Current assets €19.1m ▲ 25.1%
Equity and liabilities €22.0m
Equity €2.9m ▲ 4.6%
Debt €19.0m ▲ 4.9%
Debt's share of the balance-sheet total stays at 86.7%.
Key figures and ratios
2025 value · change against 2024
Current ratio
1.80▲
2024 · 1.77
Quick ratio
0.73▲
2024 · 0.43
Debt to equity
6.51▲
2024 · 6.49
ROE
137.7%▲
2024 · 43.2%
ROA
18.3%▲
2024 · 5.8%
Debt ≤ 1 year
€10.6m▲
2024 · €8.6m
Debt > 1 year
€8.4m▼
2024 · €9.4m
Income taxes
€1.1m▲
2024 · €426,790
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 172 companies that looked in July 2024 the way this one looks now, 0.0% went bankrupt within 24 months and 96.5% are still going.

  • Medium-sized
  • 10 to 20 years old
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
0.0% went bankrupt
3.5% stopped otherwise
96.5% still going

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 172 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 · 55 lines
Balance sheet Code20242025
Assets
Total assets20/58€20.9m€22.0m▲
Fixed assets21/28€5.7m€2.9m▼
Financial fixed assets28€5.7m€2.9m▼
Current assets29/58€15.3m€19.1m▲
Stocks and contracts in progress3€11.6m€11.4m▼
Stocks30/36€11.6m€11.4m▼
Amounts receivable within one year40/41€1.0m€5.8m▲
Trade receivables40€0€0.4m▲
Other amounts receivable41€1.0m€5.4m▲
Current investments50/53€1.5m€1.5m▲
Cash at bank and in hand54/58€1.1m€0.4m▼
Deferred charges and accrued income490/1€0.2m€0.01m▼
Equity and liabilities
Total equity and liabilities10/49€20.9m€22.0m▲
Equity10/15€2.8m€2.9m▲
Contributions10/11€0.9m€0.9m=
Capital10€0.9m€0.9m=
Issued capital100€0.9m€0.9m=
Reserves13€1.9m€2.0m▲
Non-distributable reserves130/1€0.09m€0.09m=
Legal reserve130€0.09m€0.09m=
Distributable reserves133€1.8m€1.9m▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€18.1m€19.0m▲
Amounts payable after more than one year17€9.4m€8.4m▼
Financial debts170/4€9.4m€8.4m▼
Amounts payable within one year42/48€8.6m€10.6m▲
Current portion of amounts payable after more than one year42€2.6m€1.8m▼
Financial debts43€3.3m€4.3m▲
Credit institutions430/8€3.3m€4.3m▲
Trade debts44€0.1m€0.4m▲
Suppliers440/4€0.1m€0.4m▲
Taxes, remuneration and social security45€0.3m€0.3m▼
Taxes450/3€0.3m€0.3m▼
Other amounts payable47/48€2.4m€3.9m▲
Accrued charges and deferred income492/3€0.1m€0.03m▼
Income statement Code20242025
Other operating charges640/8€0.02m€0.08m▲
Gross operating margin9900€2.2m€5.1m▲
Operating profit (loss)9901€2.2m€5.0m▲
Financial income75/76B€0.09m€1.4m▲
Recurring financial income75€0.09m€0.2m▲
Non-recurring financial income76B-€1.2m
Financial charges65/66B€0.7m€1.3m▲
Recurring financial charges65€0.7m€0.9m▲
Non-recurring financial charges66B-€0.3m
Profit (loss) for the period before taxes9903€1.6m€5.1m▲
Income taxes67/77€0.4m€1.1m▲
Profit (loss) for the period9904€1.2m€4.0m▲
Profit (loss) for the period to be appropriated9905€1.2m€4.0m▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.2m€4.0m▲
Transfer from equity791/2€0.8m€0▼
Transfer to equity691/2-€0.1m
To other reserves6921-€0.1m
Profit to be distributed694/7€2.0m€3.9m▲
Return on contributions (dividend)694€2.0m€3.9m▲
Social balance sheet
Average headcount (FTE)9087-0.0

The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20182019202020212022202320242025Change
Operating income70/76A---€3.0m-----
Turnover70€3.4m€2.2m€5.7m€2.9m-----
Other operating income74---€0.07m-----
Operating charges60/66A---€1.8m-----
Goods for resale, raw materials and consumables60---€1.6m-----
Purchases600/8---€0.2m-----
Change in stocks: decrease (increase)609---€1.4m-----
Services and other goods61---€0.08m-----
Other operating charges640/8---€0.02m€0.02m€0.01m€0.02m€0.08m▲ 306%
Non-recurring operating charges66A---€0.05m-----
Gross operating margin9900----€0.7m€0.9m€2.2m€5.1m▲ 125%
Operating profit (loss)9901€0.6m€0.8m€1.1m€1.2m€0.6m€0.9m€2.2m€5.0m▲ 124%
Financial income75/76B---€0.09m€1.2m€0.04m€0.09m€1.4m▲ 16×
Recurring financial income75€0.9m€0.02m€0.04m€0.09m€1.2m€0.04m€0.09m€0.2m▲ 126%
Income from financial fixed assets750---€0.05m-----
Income from current assets751---€260-----
Other financial income752/9---€0.04m-----
Non-recurring financial income76B-------€1.2m-
Financial charges65/66B---€0.2m€0.2m€0.2m€0.7m€1.3m▲ 86.8%
Recurring financial charges65€0.3m€0.4m€0.5m€0.2m€0.2m€0.2m€0.7m€0.9m▲ 37.8%
Debt charges650€0.3m€0.3m€0.4m€0.2m-----
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651----€0.02m-----
Other financial charges652/9---€0.05m-----
Non-recurring financial charges66B---€0---€0.3m-
Profit (loss) for the period before taxes9903€1.1m€0.4m€0.7m€1.0m€1.6m€0.7m€1.6m€5.1m▲ 215%
Income taxes67/77€0.06m€0.1m€0.2m€0.3m€0.2m€0.2m€0.4m€1.1m▲ 162%
Taxes670/3---€0.3m-----
Profit (loss) for the period9904€1.1m€0.3m€0.5m€0.8m€1.5m€0.6m€1.2m€4.0m▲ 233%
Profit (loss) for the period to be appropriated9905€1.1m€0.3m€0.5m€0.8m€1.5m€0.6m€1.2m€4.0m▲ 233%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€14.7m€16.8m€16.1m€10.8m€11.2m€13.5m€20.9m€22.0m▲ 4.8%
Fixed assets21/28€4.0m€4.6m€4.9m€5.4m€5.6m€6.6m€5.7m€2.9m▼ 49.7%
Financial fixed assets28€4.0m€4.6m€4.9m€5.4m€5.6m€6.6m€5.7m€2.9m▼ 49.7%
Affiliated companies280/1---€4.0m-----
Participating interests280---€4.0m-----
Companies linked by participating interests282/3---€1.5m-----
Participating interests282---€1.5m-----
Current assets29/58€10.7m€12.1m€11.2m€5.3m€5.6m€6.9m€15.3m€19.1m▲ 25.1%
Stocks and contracts in progress3€6.4m€6.4m€3.8m€2.4m€1.5m€3.9m€11.6m€11.4m▼ 1.4%
Stocks30/36---€2.4m€1.5m€3.9m€11.6m€11.4m▼ 1.4%
Property held for sale35---€2.4m-----
Amounts receivable within one year40/41€3.8m€5.3m€1.1m€0.4m€2.1m€0.4m€1.0m€5.8m▲ 498%
Trade receivables40---€0.001m€1.0m€0.06m€0€0.4m-
Other amounts receivable41---€0.4m€1.1m€0.4m€1.0m€5.4m▲ 459%
Current investments50/53--€1.3m€1.3m€1.4m€1.5m€1.5m€1.5m▲ 3.3%
Other investments51/53---€1.3m-----
Cash at bank and in hand54/58€0.4m€0.4m€3.9m€0.4m€0.2m€0.6m€1.1m€0.4m▼ 63.8%
Deferred charges and accrued income490/1---€0.9m€0.4m€0.5m€0.2m€0.01m▼ 91.0%
Equity and liabilities
Total equity and liabilities10/49€14.7m€16.8m€16.1m€10.8m€11.2m€13.5m€20.9m€22.0m▲ 4.8%
Equity10/15€2.5m€2.8m€3.3m€4.1m€4.5m€3.6m€2.8m€2.9m▲ 4.6%
Contributions10/11€0.9m€0.9m€0.9m€0.9m€0.9m€0.9m€0.9m€0.9m=
Capital10---€0.9m€0.9m€0.9m€0.9m€0.9m=
Issued capital100---€0.9m€0.9m€0.9m€0.9m€0.9m=
Reserves13€0.08m€0.09m€2.4m€3.2m€3.6m€2.7m€1.9m€2.0m▲ 6.7%
Non-distributable reserves130/1---€0.09m€0.09m€0.09m€0.09m€0.09m=
Legal reserve130---€0.09m€0.09m€0.09m€0.09m€0.09m=
Distributable reserves133---€3.1m€3.5m€2.6m€1.8m€1.9m▲ 7.1%
Profit (loss) carried forward14€1.5m€1.8m€0-€0€0€0€0-
Amounts payable17/49€12.2m€14.0m€12.8m€6.7m€6.7m€9.9m€18.1m€19.0m▲ 4.9%
Amounts payable after more than one year17€7.2m€7.2m€0--€2.9m€9.4m€8.4m▼ 10.6%
Financial debts170/4-----€2.9m€9.4m€8.4m▼ 10.6%
Amounts payable within one year42/48€4.7m€6.4m€12.5m€6.6m€6.6m€6.8m€8.6m€10.6m▲ 22.7%
Current portion of amounts payable after more than one year42---€0--€2.6m€1.8m▼ 32.2%
Financial debts43---€4.0m€3.2m€4.1m€3.3m€4.3m▲ 30.8%
Credit institutions430/8---€4.0m€3.2m€4.1m€3.3m€4.3m▲ 30.8%
Trade debts44€0.08m€0.05m€0.04m€0.07m€0.02m€0.02m€0.1m€0.4m▲ 293%
Suppliers440/4---€0.07m€0.02m€0.02m€0.1m€0.4m▲ 293%
Advances received on contracts in progress46---€0-----
Taxes, remuneration and social security45---€0.3m€0.03m€0.03m€0.3m€0.3m▼ 10.9%
Taxes450/3---€0.3m€0.03m€0.03m€0.3m€0.3m▼ 10.9%
Other amounts payable47/48---€2.2m€3.3m€2.7m€2.4m€3.9m▲ 64.2%
Accrued charges and deferred income492/3---€0.1m€0.1m€0.1m€0.1m€0.03m▼ 68.4%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€1.1m€0.3m€0.5m€0.8m€1.5m€0.6m€1.2m€4.0m▲ 233%
Operating cash flow (approximation)€1.1m€0.3m€0.5m€0.8m€1.5m€0.6m€1.2m€4.0m▲ 233%
Investment in fixed assets (approximation)--€0.6m-€0.3m-€0.5m-€0.2m-€1.0m€0.9m€2.8m▲ 213%
Change in cash-€0.02m€3.6m-€3.6m-€0.1m€0.4m€0.5m-€0.7m-

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

Download as CSV

Latest 10 of 13 filings with the National Bank
Financial year Type Filed Reference
31-12-2025 abbreviated format 27-05-2026 2026-00123938
31-12-2024 abbreviated format 10-06-2025 2025-00128371
31-12-2023 abbreviated format 26-07-2024 2024-00288202
31-12-2022 abbreviated format 20-07-2023 2023-00252871
31-12-2021 full format 17-06-2022 2022-20073185
31-12-2020 full format 30-06-2021 2021-28700055
31-12-2019 full format 16-07-2020 2020-30300241
31-12-2018 full format 19-06-2019 2019-20100381
31-12-2017 full format 12-06-2018 2018-17900182
31-12-2016 full format 12-06-2017 2017-16300346

Show all 13 filings

Subsidies and aid

Flemish government

2024 · 1 entry · €51,740 awarded · €51,740 paid
Schemes
1 entry · €51,740 · €51,740 paid · Openbare Vlaamse Afvalstoffenmaatschappij

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.