Equity
€262,277 from €700,181 in 2023
Equity fell by 63% in 2 years.
Workforce
Lifetime
8 annual accounts with figures on one time axispeak €655,397 (2019)
-€61,969▼ €120,018
lowest -€238,780 (2024)
-€199,124▲ €39,657
peak €700,181 (2023)
€262,277▼ 43.2%
€2.5m▼ 11.1%
peak 1.5 FTE (2024)
1.3 FTE▼ 13.3%
Board3 names since 2017
1 directorWorkForce Projects
Owners
93.33%WorkForce Projects
Documentsfilings and deeds
22-09-202653 days late
2025financial year
Plan approval refused 22-04Judicial reorganisation opened 07-01Gross margin from €58,049 to -€61,969Loss of €199,124Staff from 1.5 FTE to 1.3 FTERegistered office moved within Antwerp 09-04
Key points
from the 2025 annual accountsLosses
-€437,904 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
Debts
€2.5m 91% of the balance sheet
Financial debts 45%Suppliers 31%Taxes and wages 18%Other 6%
Of this, €1.9m falls due within a year.
Filings
8 annual accounts 3 late
The 2022 accounts came latest: 64 days after the end of the period.
At the same address
138 companies
Position in the sector
-€199,124
Lower net result than 90% of companies in repair and installation of machinery. Sector median €75,265 · 190 companies.
Checked score
9
Critical
Financially stronger than 11% of micro companies in repair and installation of machinery (NACE 33)
Probability in this band: over 15.0%
Bankruptcy probability within 12 months
≥ 25% High
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 2,399 companies (NACE 33, micro).
About 1 in 4 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.8%
01-2025: 0.8%● unchanged vs 12-2024lowest value
05-2026: ≥ 25%
06-2026: ≥ 25%● unchanged vs 05-2026
07-2026: ≥ 25%● unchanged vs 06-2026
08-2026: ≥ 25%● unchanged vs 07-2026
09-2026: ≥ 25%● unchanged vs 08-2026highest value
10-2026: ≥ 25%● unchanged vs 09-2026
11-2026: ≥ 25%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
2 changes of registered office in 24 months
Judicial reorganisation on record (2 publications, latest 22-04-2025)
Last filed accounts filed 53 days late; 1 of the last 3 accounts late
Equity €262,277 (9.5% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 33, micro). It does better than 15% of them on solvency, 10% on liquidity, 11% on profitability and 10% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the high class on 30-06-2025, 14.6% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 849 companies had the same profile as Workforce has now. Each dot stands for 3 companies, two years later.
91.9%
were still trading
3.3%
stopped another way
4.7%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Workforce itself is higher: ≥ 25% within 12 months. It rests on far more data about Workforce than the profile alone.
Test of the method
The method was tested on the 497,448 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 849 companies, not a prediction for Workforce. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.87 (1.02 in 2024), below 1. Short-term debt is 67.8% and cash 2.5% of total assets. 90.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
raises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€199,124
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 192 sector peers (2025).
NBB · sector comparisonPosition among 192 sector peers
Solvency
better than 13%
← weakest
strongest →
raises risk · 2025 accounts filed 53 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-09-2026, 53 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 8 filingsDeviation from the deadline
2025
53 days late
2024
on the day
2023
75 days early
2022
64 days late
2021
57 days late
2020
28 days early
2019
101 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 4 days before the deadline. In the sector (NACE 33), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 September (4 of the last 5 accounts filed within 53 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- WorkForce Projects 93.33%score 28equity -€603,071 (2025) · 2025 annual accounts of WorkForce Projects
Shares in 1 company, WorkForce Staffing Solutions
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0686672403
Registered office moved from Antwerp to Strombeek-Bever
New registered office: Temselaan 100 A, 1853 Strombeek-Bever · Previous registered office: Fruithoflaan 95A bus 001, 2600 Antwerpen · Resignation: LAUREYS Erwin Jean Jacques (director) · Board meeting of 17-11-2025 · Gazette deed
Plan approval refused
Enterprise Court of Antwerp · judgment of 16-04-2025 · Judicial reorganisation
Registered office moved within Antwerp
New registered office: Fruithoflaan 95A bus 001, 2600 Antwerpen · Previous registered office: Frans Buyensstraat 9 bus 001, 2000 Antwerpen · Board meeting of 30-01-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Workforce Grimbergen | €2.8m | -€61,969 | 9.5% | 1.3 |
| JAGGAB Tournai | €10.0m | -€17,052 | 53.9% | 0 |
| Hite Europe Harelbeke | €4.6m | -€515,941 | -6.3% | 3.1 |
| ERANOVUM EMOBILITY BELGIUM Brussels | €4.8m | -€486,646 | -46.6% | 4.6 |
| MyGrid Diest | €1.0m | -€45,906 | 25.8% | - |
| Tolon Europe Wetteren | €3.2m | - | 33.3% | 6.5 |
| THEUNS ENGINEERING Kapellen | €0.4m | -€2,614 | 4.8% | - |
These companies have the same main activity as Workforce: installation of industrial machinery and equipment (NACE 33200). They are comparable in size and age: total assets between €415,000 and €10m, founded between 2008 and 2024.
Official details
Source: KBO- Status
- Active since 20-12-2017Normal situation
- Registered office
- 139 active companies are registered at this address9 started in the 12 months before. Source: KBO register, as of 10 November 2026.
- Activity
- Installation of industrial machinery and equipmentNACE 33200
- Joint committee
- 209White-collar workers in metal manufacturing · annual accounts 2025
- Establishment unit
- 2.272.143.1431853 Grimbergen, since 20-12-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Insights on Workforce
Workforce has existed since 2017. In 2019 the gross margin rose from €25,041 to €655,397.
WorkForce Projects holds 93.33% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Workforce
- What is the company number of Workforce?
- The company number of Workforce is 0686.672.403. The VAT number is the same number with BE in front: BE 0686.672.403.
- Where is Workforce based?
- The registered office is at Temselaan 100, 1853 Grimbergen.Company details
- What does Workforce do?
- According to the KBO register, the main activity is installation of industrial machinery and equipment (NACE 33200).
- What is the legal form of Workforce?
- Workforce is a public limited company (NV).
- When was Workforce founded?
- Workforce was founded on 20-12-2017.
- Is Workforce still active?
- Yes, Workforce is an active enterprise in the KBO register.
- How many employees does Workforce have?
- Workforce had an average of 1.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Workforce fall under?
- In its 2025 annual accounts, Workforce states joint committee 209 (White-collar workers in metal manufacturing).
- What is the turnover of Workforce?
- The annual accounts for financial year 2025 state no turnover. In financial year 2023 turnover was €10.1m.
- Is Workforce profitable?
- In financial year 2025, Workforce made a loss of €199,124.
- Where can I find the annual accounts of Workforce?
- Workforce filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Workforce due?
- Workforce must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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