WOONPROJECT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 3 filings
Turnover
≈ €2.9m
Estimated: probably between €2.2m and €3.9m
Total assets
€1.1m▼ 53.9%
2024 · €2.3m
Net result
€200,265▲ 29.4%
2024 · €154,720
Working capital
-€12,199
2024 · €9,344
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€248,631
▲ 30.9%
2025
20232025
Net result
€200,265
▲ 29.4%
2025
highest quarter of the sector
20232025
Equity
€202,517
▼ 19.7%
2025
middle half of the sector
20232025
Total assets
€1.1m
▼ 53.9%
2025
middle half of the sector
20232025
Debt
€849,449
▼ 58.2%
2025
20232025
Working capital
-€12,199
2025
lowest quarter of the sector
20232025
Solvency
19.3%
▲ 8.2pp
2025
lowest quarter of the sector
20232025
Current ratio
0.98
▼ 0.02
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
19.0%
▲ 12.3pp
2025
highest quarter of the sector
20232025
Staff (FTE)
9.1
▲ 8.3%
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result-€0.03m-€0.2m€0.2m▲ 30.9%
Net result€0.003mbelow the sector's middle half-€0.2mabove the sector's middle half▲ 62×€0.2mabove the sector's middle half▲ 29.4%
Equity€0.1mbelow the sector's middle half-€0.3mwithin the sector's middle half▲ 159%€0.2mwithin the sector's middle half▼ 19.7%
Total assets€3.2mabove the sector's middle half-€2.3mabove the sector's middle half▼ 28.8%€1.1mwithin the sector's middle half▼ 53.9%
Debt€3.1m-€2.0m▼ 34.7%€0.8m▼ 58.2%
Working capital-€0.2mbelow the sector's middle half-€0.009mbelow the sector's middle half-€0.01mbelow the sector's middle half
Solvency3.0%below the sector's middle half-11.1%below the sector's middle half▲ 8.0pp19.3%below the sector's middle half▲ 8.2pp
Current ratio0.93below the sector's middle half-1.01below the sector's middle half▲ 0.070.98below the sector's middle half▼ 0.02
Return on assets (ROA)0.1%below the sector's middle half-6.8%within the sector's middle half▲ 6.7pp19.0%above the sector's middle half▲ 12.3pp
Staff (FTE)6.1within the sector's middle half-8.4within the sector's middle half▲ 37.7%9.1within the sector's middle half▲ 8.3%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 31% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€421,843 ▼ 21.3%
Current assets
€630,122 ▼ 63.9%
Equity and liabilities €1.1m
Equity
€202,517 ▼ 19.7%
Debt
€849,449 ▼ 58.2%
Debt's share of the balance-sheet total falls from 88.9% to 80.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€369,829▲
2024 · €321,183
Cash flow
€321,464▲
2024 · €286,027
Quick ratio
0.71▼
2024 · 0.73
Debt to equity
4.19▼
2024 · 8.05
ROE
98.9%▲
2024 · 61.3%
Interest coverage
47.66▲
2024 · 41.41
Debt ≤ 1 year
€642,322▼
2024 · €1.7m
Debt > 1 year
€207,127▼
2024 · €289,588
Income taxes
€70,877▲
2024 · €60,786
Staff costs
€652,259▲
2024 · €474,834
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 10 | 9 | 10 |
| full-time | 6 | 5 | 7 |
| part-time | 4 | 4 | 3 |
| in full-time equivalents | 9 | 8.2 | 9.4 |
| Average over the year, in full-time equivalents | 6.1 | 8.4 | 9.1 |
| On a permanent contract | 10 | 9 | 10 |
| Joined | 10 | 0 | 1 |
| Left | 0 | 1 | 0 |
| Training hours | 64 | 56 | 68 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Securities and guarantees
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Debts secured on the company's own assets | €490,879 | €379,780 | €289,588 |
| Pledge on the business | €300,000 | €300,000 | €300,000 |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1.8m | €973 | €7,346 |
| Intangible fixed assets | €106,118 | - | - |
| Financial fixed assets | €625 | - | - |
| Depreciation and write-downs of the year | €157,924 | €131,307 | €121,198 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 2 entries · €22,219 awarded · €22,219 paidAnnual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | €0.002m | - | - |
| Remuneration, social security and pensions62 | €0.6m | €0.5m | €0.7m | ▲ 37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.1m | €0.1m | ▼ 7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €0.1m | - | - |
| Other operating charges640/8 | €0.01m | €0.01m | €0.01m | ▲ 0.6% |
| Gross operating margin9900 | €0.7m | €1.0m | €1.0m | ▲ 8.8% |
| Operating profit (loss)9901 | -€0.03m | €0.2m | €0.2m | ▲ 30.9% |
| Financial income75/76B | €0.03m | €0.03m | €0.03m | ▼ 9.3% |
| Recurring financial income75 | €0.03m | €0.03m | €0.03m | ▼ 9.3% |
| Financial charges65/66B | €0.01m | €0.008m | €0.008m | = |
| Recurring financial charges65 | €0.01m | €0.008m | €0.008m | = |
| Profit (loss) for the period before taxes9903 | -€0.006m | €0.2m | €0.3m | ▲ 25.8% |
| Income taxes67/77 | -€0.009m | €0.06m | €0.07m | ▲ 16.6% |
| Profit (loss) for the period9904 | €0.003m | €0.2m | €0.2m | ▲ 29.4% |
| Profit (loss) for the period to be appropriated9905 | €0.003m | €0.2m | €0.2m | ▲ 29.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €3.2m | €2.3m | €1.1m | ▼ 53.9% |
| Fixed assets21/28 | €0.7m | €0.5m | €0.4m | ▼ 21.3% |
| Intangible fixed assets21 | €0.05m | €0.03m | €0.02m | ▼ 38.1% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.4m | ▼ 20.2% |
| Land and buildings22 | €0.04m | €0.03m | €0.01m | ▼ 42.8% |
| Plant, machinery and equipment23 | €0.5m | €0.4m | €0.4m | ▼ 16.6% |
| Furniture and vehicles24 | €0.08m | €0.05m | €0.03m | ▼ 39.1% |
| Other tangible fixed assets26 | €375 | €0.002m | €0.001m | ▼ 54.6% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €2.5m | €1.7m | €0.6m | ▼ 63.9% |
| Stocks and contracts in progress3 | €0.8m | €0.5m | €0.2m | ▼ 64.4% |
| Stocks30/36 | €0.1m | €0.07m | €0.07m | ▼ 5.3% |
| Contracts in progress37 | €0.7m | €0.4m | €0.1m | ▼ 75.2% |
| Amounts receivable within one year40/41 | €0.3m | €0.4m | €0.07m | ▼ 83.5% |
| Trade receivables40 | €0.3m | €0.4m | €0.07m | ▼ 83.9% |
| Other amounts receivable41 | €0.03m | €0.002m | €0.002m | ▼ 5.3% |
| Current investments50/53 | €1.0m | €0.7m | - | - |
| Cash at bank and in hand54/58 | €0.4m | €0.2m | €0.4m | ▲ 127% |
| Deferred charges and accrued income490/1 | €0.01m | €0.001m | €0.03m | ▲ 38× |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €3.2m | €2.3m | €1.1m | ▼ 53.9% |
| Equity10/15 | €0.1m | €0.3m | €0.2m | ▼ 19.7% |
| Contributions10/11 | €0.002m | €0.002m | €0.002m | = |
| Reserves13 | €0.1m | €0.2m | €0.2m | ▼ 19.9% |
| Non-distributable reserves130/1 | €232 | €232 | €232 | = |
| Reserves not available under the articles1311 | €232 | €232 | €232 | = |
| Tax-exempt reserves132 | €10 | €10 | €10 | = |
| Distributable reserves133 | €0.09m | €0.2m | €0.2m | ▼ 19.9% |
| Amounts payable17/49 | €3.1m | €2.0m | €0.8m | ▼ 58.2% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | €0.2m | ▼ 28.5% |
| Financial debts170/4 | €0.4m | €0.3m | €0.2m | ▼ 28.5% |
| Amounts payable within one year42/48 | €2.7m | €1.7m | €0.6m | ▼ 63.0% |
| Current portion of amounts payable after more than one year42 | €0.1m | €0.09m | €0.08m | ▼ 8.6% |
| Trade debts44 | €0.2m | €0.08m | €0.02m | ▼ 79.4% |
| Suppliers440/4 | €0.2m | €0.08m | €0.02m | ▼ 79.4% |
| Advances received on contracts in progress46 | €2.2m | €1.4m | €0.3m | ▼ 76.6% |
| Taxes, remuneration and social security45 | €0.2m | €0.1m | €0.2m | ▲ 58.2% |
| Taxes450/3 | €0.1m | €0.09m | €0.08m | ▼ 4.1% |
| Remuneration and social security454/9 | €0.07m | €0.04m | €0.1m | ▲ 177% |
| Accrued charges and deferred income492/3 | - | €0.003m | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,507 | €154,720 | €200,265 | ▲ 29.4% |
| + Depreciation and write-downs630 | €157,924 | €131,307 | €121,198 | ▼ 7.7% |
| Operating cash flow (approximation) | €160,431 | €286,027 | €321,464 | ▲ 12.4% |
| Investment in fixed assets (approximation) | - | -€2,948 | -€7,346 | ▼ 149% |
| Change in cash | - | -€245,365 | €200,027 | - |
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, 7,976 companies had the same profile as WOONPROJECT has now. Two years later, 94.3% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
94.3%
was still going
1.8%
stopped otherwise
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of WOONPROJECT itself: 1.0% 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 7,976 companies, not a prediction for WOONPROJECT. 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.