WY PROJECTS
ActiveSummary
WY PROJECTS has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€271,836) and a net result of -€186,983. Its solvency ranks better than 11% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-06-2023 Normal situation
- Activity
- Development of residential building projects NACE 68121and 1 other
- Joint committee
- 124 Paritair Comité voor het bouwbedrijf · annual accounts 2025
- Establishment unit
- 2.347.005.169 8530 Harelbeke, since 29-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 10-12-2024
Board and ownership
- CARDON Cindy CarineDirector · since 29-06-2023
- VALKA PROJECTSDirector · since 12-06-2026 · permanent representative Wout Valcke
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- Gross margin
- €2,169
- Turnover
- ≈ €9,000
- estimated
- Loss
- €186,983
- ▲ 1.2%
- Equity
- -€271,836
- ▼ 220%
- Total assets
- €1.9m
- ▼ 25.1%
- Employees on 31-12-2025
- 1
- =
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€271,836Loss of €186,983, the second in a row (financial year 2025)lowers riskSize: total assets €1.9mSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 68, micro). It does better than 11% of them on solvency, 41% on liquidity, 11% on profitability and 3% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 4 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €108,210, larger than the loss of €101,402 in 2024.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| part-time | 0 | 0 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 |
| On a permanent contract | 1 | 1 |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2024 to 2025 annual accounts
Securities and guarantees
| Item | 2024 | 2025 |
|---|---|---|
| Mortgages, amount registered | - | €25,000 |
| Mortgage mandates | - | €1.3m |
| Carrying value of the mortgaged assets | - | €1.5m |
| Pledge on other assets, amount secured | - | €220,000 |
| Carrying value of the other pledged assets | - | €246,638 |
Source: notes to the 2024 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €318,141 | €9,125 |
| Depreciation and write-downs of the year | €29,919 | €50,710 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €617 awarded · €617 paid| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Turnover70 | €0.3m | - | - |
| Non-recurring operating income76A | €0 | €0.01m | - |
| Goods, raw materials, services and sundry goods60/61 | €2.3m | - | - |
| Remuneration, social security and pensions62 | €0.01m | €0.06m | ▲ 366% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.05m | ▲ 69.5% |
| Other operating charges640/8 | €0.001m | €0.002m | ▲ 73.2% |
| Non-recurring operating charges66A | - | €0.001m | - |
| Gross operating margin9900 | -€0.06m | €0.002m | - |
| Operating profit (loss)9901 | -€0.1m | -€0.1m | ▼ 6.7% |
| Financial income75/76B | €0.007m | €0.001m | ▼ 92.5% |
| Recurring financial income75 | €0.007m | €0.001m | ▼ 92.5% |
| Financial charges65/66B | €0.09m | €0.08m | ▼ 12.7% |
| Recurring financial charges65 | €0.09m | €0.08m | ▼ 12.7% |
| Profit (loss) for the period before taxes9903 | -€0.2m | -€0.2m | ▼ 1.2% |
| Profit (loss) for the period9904 | -€0.2m | -€0.2m | ▼ 1.2% |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | -€0.2m | ▼ 1.2% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €2.5m | €1.9m | ▼ 25.1% |
| Fixed assets21/28 | €0.3m | €0.2m | ▼ 14.4% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | ▼ 14.4% |
| Plant, machinery and equipment23 | €0.1m | €0.1m | ▼ 4.2% |
| Furniture and vehicles24 | €0.2m | €0.1m | ▼ 22.8% |
| Current assets29/58 | €2.2m | €1.6m | ▼ 26.5% |
| Stocks and contracts in progress3 | €1.9m | €1.5m | ▼ 20.5% |
| Stocks30/36 | €1.9m | €1.5m | ▼ 20.5% |
| Amounts receivable within one year40/41 | €0.04m | €0.02m | ▼ 46.3% |
| Trade receivables40 | €0.03m | €0.02m | ▼ 51.8% |
| Other amounts receivable41 | €0.003m | €0.004m | ▲ 4.6% |
| Cash at bank and in hand54/58 | €0.2m | €0.03m | ▼ 85.9% |
| Deferred charges and accrued income490/1 | €0.01m | €0.01m | ▲ 14.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €2.5m | €1.9m | ▼ 25.1% |
| Equity10/15 | -€0.08m | -€0.3m | ▼ 220% |
| Contributions10/11 | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.4m | ▼ 101% |
| Amounts payable17/49 | €2.6m | €2.1m | ▼ 16.9% |
| Amounts payable after more than one year17 | €2.0m | €1.8m | ▼ 12.4% |
| Financial debts170/4 | €2.0m | €1.8m | ▼ 12.4% |
| Amounts payable within one year42/48 | €0.5m | €0.4m | ▼ 33.6% |
| Current portion of amounts payable after more than one year42 | €0.04m | €0.04m | ▲ 4.0% |
| Trade debts44 | €0.1m | €0.07m | ▼ 45.6% |
| Suppliers440/4 | €0.1m | €0.07m | ▼ 45.6% |
| Taxes, remuneration and social security45 | €0.06m | €0.005m | ▼ 91.2% |
| Taxes450/3 | €0.06m | €0.005m | ▼ 91.0% |
| Remuneration and social security454/9 | €0.002m | €43 | ▼ 97.5% |
| Other amounts payable47/48 | €0.3m | €0.2m | ▼ 23.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€184,853 | -€186,983 | ▼ 1.2% |
| + Depreciation and write-downs630 | €29,919 | €50,710 | ▲ 69.5% |
| Operating cash flow (approximation) | -€154,934 | -€136,273 | ▲ 12.0% |
| Investment in fixed assets (approximation) | - | -€9,125 | - |
| Change in cash | - | -€163,609 | - |
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, 7,639 companies had the same profile as WY PROJECTS has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of WY PROJECTS itself is lower: 0.5% within 12 months. It rests on far more data about WY PROJECTS than the profile alone.
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 7,639 companies, not a prediction for WY 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.
Board & ownership
Directors
Board 2
Permanent representatives 1
Owners and capital
Shareholders
- VANDEN BUSSCHE Yves Marcel Maurits €60,000
- VALCKE Hans Jos Rita Noël €20,000
- CARDON Cindy Carine €20,000
Capital transactions
- 03-07-2023 Incorporation · €100,000 · 100 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| CARDON Cindy Carine |
|
| VALKA PROJECTS |
|
| VANDEN BUSSCHE Yves Marcel Maurits |
|
Network & group
Companies at the same address
4 other companiesConnections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
08-07
Gazette deed
1 director appointed, 1 director resigningResignation: Yves Vanden Bussche (director) · Appointment: VALKA PROJECTS (director) · Permanent representative: Wout Valcke5 points ▸
- General meeting, 12-06-2026
- Director resignation, Yves Vanden Bussche (director)
- Director discharge, Yves Vanden Bussche (director)
- Director appointment, VALKA PROJECTS (director)
- Permanent representative, Wout Valcke
03-07
Gazette deed
IncorporationStarting capital €100,000 · Appointments: VANDEN BUSSCHE Yves Marcel Maurits (director) and CARDON Cindy Carine (director) · Founder9 points ▸
- Incorporation, 29-06-2023
- Founder, VANDEN BUSSCHE Yves Marcel Maurits
- Founder, VALCKE Hans Jos Rita Noël
- Founder, CARDON Cindy Carine
- Founding capital, €100,000
- Bank account, “attest van financiële instelling, overhandigd aan notaris, bewaard in dossier, bijzondere rekening geopend namens de vennootschap in oprichting” (deed in Dutch)
- Share issue, 100, “gelijk recht in winstverdeling en vereffeningsaldo” (deed in Dutch)
- Director appointment, VANDEN BUSSCHE Yves Marcel Maurits (director (not named in the articles))
- Director appointment, CARDON Cindy Carine (director (not named in the articles))
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 29 June 2023, WY PROJECTS was incorporated as a private limited company by three natural persons, with a starting capital of €100,000.12 Of the 2 current board members, CARDON Cindy Carine has served longest, since 2023.3 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
11 activities
- De studie en de uitvoering van alle mogelijke particuliere en openbare bouwwerken, als algemene aannemer of in onderaanneming, het ontwerp en de bouw van alle mogelijke gebouwen en bouwsels, de studie en de uitvoering van binnen- en buitendecoraties
- Alle mogelijke verrichtingen die rechtstreeks of onrechtstreeks verband houden met het onderhoud, de renovatie, het herstel, de verfraaiing, de vernieuwing en de modernisering van alle soorten kunstwerken en onroerende goederen en, algemeen genomen, alle verrichtingen die rechtstreeks of onrechtstreeks verband houden met openbare en particuliere bouwwerken
- Het verstrekken van advies en bijstand, zowel technisch als administratief en commercieel, aan alle vennootschappen en ondernemingen voor alle mogelijke aangelegenheden met betrekking tot de sector van de onroerende goederen
- Het verlenen van advies- en/of dienstenfuncties op het vlak van rendementsstudies, technische studies, het ontwikkelen van prototypes, het ontwikkelen van nieuwe producten en markten, dit alles in de meest ruime zin
- Het geven van management en consultancy adviezen op het gebied van marketing, productie, financiën en administratie en commercieel beheer
- Het uitwerken van organisatieprojecten in ondernemingen
- Het verwerven van alle mogelijke terreinen, het bouwen van openbare en particuliere gebouwen, de aankoop, de verkoop, de verhuur, de verdeling en de verkaveling van alle mogelijke onroerende goederen
- Al de werkzaamheden met betrekking tot de verdeling van water, gas, elektriciteit, enzovoort; de vaststelling en exploitatie van alle mogelijke transportmiddelen, havens, kanalen, wegen, enzovoort
- De aankoop, de verkoop, de huur, de invoer en de uitvoer van alle mogelijke materialen, goederen, toestellen en materieel, noodzakelijk voor de bouw, het onderhoud, het herstel en de vernieuwing van kunstwerken en gebouwen
- De voorbereiding, de opstelling en het afsluiten, zowel als mandataris als voor eigen rekening, van alle mogelijke overeenkomsten voor openbare of particuliere werken of voor leveringen en het uitvoeren van alle verrichtingen die daarmee verband houden
- De groot- en kleinhandel, de aankoop en verkoop in het groot en in het klein, het verhuren en/of leasen, de in- en uitvoer, het vervoer en de bedeling en de productie van alle producten voor de industrie en handel in het algemeen, alsook hun toebehoren
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0803.339.053
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34323D1319/00B000 | Flanders | 1,578 m² | 1 · 165 m² | 7.6 m · 2 |
| 34452B0763/00E000 | Flanders | 1,105 m² | 1 · 249 m² | 9.0 m · 2 |