BW PROJECTS
ActiveSummary
BW PROJECTS has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €160k and a net result of €1k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▼-19
Solvency64▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 4.4 against 3.43 in 2024; short-term debt: 10.2% and cash: 2.1% of total assets), but 60.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
39.4%
Return on assets
0.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
20 d late
2023
1 d early
2022
5 d early
2021
10 d early
2020
13 d late
2019
55 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€160k▲ 0.9%
2024 · €159k
2018: €117klowest in 8 years
2019: €122k▲ +4.7% vs 2018
2020: €147k▲ +20.3% vs 2019
2021: €142k▼ -3.3% vs 2020
2022: €132k▼ -7.2% vs 2021
2023: €148k▲ +12.2% vs 2022
2024: €159k▲ +7.3% vs 2023
2025: €160k▲ +0.9% vs 2024highest in 8 years
2018 → 2025
Total assets
€407k▼ 2.6%
2024 · €418k
2018: €306k
2019: €239k▼ -22.1% vs 2018
2020: €234k▼ -1.9% vs 2019lowest in 8 years
2021: €240k▲ +2.6% vs 2020
2022: €453k▲ +88.7% vs 2021highest in 8 years
2023: €420k▼ -7.4% vs 2022
2024: €418k▼ -0.4% vs 2023
2025: €407k▼ -2.6% vs 2024
2018 → 2025
Net result
€1k▼ 86.5%
2024 · €11k
2018: €633
2019: €6k▲ +775% vs 2018
2020: €4k▼ -26.0% vs 2019
2021: €-5k▼ -219% vs 2020
2022: €-10k▼ -109% vs 2021lowest in 8 years
2023: €16k▲ +259% vs 2022highest in 8 years
2024: €11k▼ -33.0% vs 2023
2025: €1k▼ -86.5% vs 2024
2018 → 2025
Working capital
€142k▲ 8.2%
2024 · €131k
2018: €-2klowest in 8 years
2019: €147k▲ +7874% vs 2018highest in 8 years
2020: €140k▼ -4.6% vs 2019
2021: €127k▼ -9.2% vs 2020
2022: €135k▲ +6.6% vs 2021
2023: €124k▼ -8.6% vs 2022
2024: €131k▲ +6.0% vs 2023
2025: €142k▲ +8.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€142k-€132k▼ 7.2%€148k▲ 12.2%€159k▲ 7.3%€160k▲ 0.9%
2021: €142k
2022: €132k▼ -7.2% vs 2021lowest in 5 years
2023: €148k▲ +12.2% vs 2022
2024: €159k▲ +7.3% vs 2023
2025: €160k▲ +0.9% vs 2024highest in 5 years
Operating result€29k-€-7k€25k€20k▼ 18.7%€6k▼ 68.4%
2021: €29khighest in 5 years
2022: €-7k▼ -123% vs 2021lowest in 5 years
2023: €25k▲ +459% vs 2022
2024: €20k▼ -18.7% vs 2023
2025: €6k▼ -68.4% vs 2024
Net result€-5k-€-10k▼ 109%€16k€11k▼ 33.0%€1k▼ 86.5%
2021: €-5k
2022: €-10k▼ -109% vs 2021lowest in 5 years
2023: €16k▲ +259% vs 2022highest in 5 years
2024: €11k▼ -33.0% vs 2023
2025: €1k▼ -86.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 68% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €407k
Fixed assets
€224k ▼ 4.0%
Current assets
€183k ▼ 0.8%
Equity and liabilities €407k
Equity
€160k ▲ 0.9%
Debt
€247k ▼ 4.7%
Debt's share of the balance-sheet total falls from 62.0% to 60.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€17k▼
2024 · €31k
Cash flow
€12k▼
2024 · €21k
Current ratio
4.40▲
2024 · 3.43
Debt to equity
1.54▼
2024 · 1.63
ROE
0.9%▼
2024 · 6.8%
ROA
0.4%▼
2024 · 2.6%
Interest coverage
4.04▼
2024 · 7.96
Debt ≤ 1 year
€42k▼
2024 · €54k
Debt > 1 year
€205k=
2024 · €205k
Income taxes
€643▼
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€418k€407k▼
Fixed assets21/28€233k€224k▼
Tangible fixed assets22/27€233k€224k▼
Land and buildings22€223k€215k▼
Plant, machinery and equipment23€5k€6k▲
Furniture and vehicles24€5k€3k▼
Current assets29/58€185k€183k▼
Amounts receivable within one year40/41€178k€173k▼
Trade receivables40€76k€71k▼
Other amounts receivable41€102k€102k=
Cash at bank and in hand54/58€5k€9k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€418k€407k▼
Equity10/15€159k€160k▲
Contributions10/11€30k€30k=
Reserves13€129k€130k▲
Distributable reserves133€129k€130k▲
Amounts payable17/49€259k€247k▼
Amounts payable after more than one year17€205k€205k=
Financial debts170/4€80k€80k=
Other amounts payable178/9€125k€125k=
Amounts payable within one year42/48€54k€42k▼
Current portion of amounts payable after more than one year42€12k-
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€10k€3k▼
Taxes450/3€10k€3k▼
Other amounts payable47/48€30k€35k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€11k▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€32k€19k▼
Operating profit (loss)9901€20k€6k▼
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€16k€2k▼
Income taxes67/77€5k€643▼
Profit (loss) for the period9904€11k€1k▼
Profit (loss) for the period to be appropriated9905€11k€1k▼
Appropriation of the result
Profit (loss) to be appropriated9906€11k€1k▼
Transfer to equity691/2€11k€1k▼
To other reserves6921€11k€1k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €718 | - | - | - |
| Remuneration, social security and pensions62 | €21k | €17k | €-1k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €6k | €10k | €11k | €11k | ▼ 0.2% |
| Other operating charges640/8 | €528 | €11k | €2k | €1k | €2k | ▲ 19.2% |
| Non-recurring operating charges66A | - | €27k | - | - | - | - |
| Gross operating margin9900 | €60k | €54k | €34k | €32k | €19k | ▼ 41.9% |
| Operating profit (loss)9901 | €29k | €-7k | €25k | €20k | €6k | ▼ 68.4% |
| Financial income75/76B | - | - | - | €0 | €1 | ▲ 1,733% |
| Recurring financial income75 | - | - | - | €0 | €1 | ▲ 1,733% |
| Financial charges65/66B | €2k | €3k | €3k | €4k | €4k | ▲ 9.0% |
| Recurring financial charges65 | €2k | €3k | €3k | €4k | €4k | ▲ 9.0% |
| Profit (loss) for the period before taxes9903 | €27k | €-10k | €21k | €16k | €2k | ▼ 86.9% |
| Income taxes67/77 | €32k | €47 | €5k | €5k | €643 | ▼ 87.8% |
| Profit (loss) for the period9904 | €-5k | €-10k | €16k | €11k | €1k | ▼ 86.5% |
| Profit (loss) for the period to be appropriated9905 | €-5k | €-10k | €16k | €11k | €1k | ▼ 86.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €240k | €453k | €420k | €418k | €407k | ▼ 2.6% |
| Fixed assets21/28 | €16k | €227k | €242k | €233k | €224k | ▼ 4.0% |
| Tangible fixed assets22/27 | €16k | €227k | €242k | €233k | €224k | ▼ 4.0% |
| Land and buildings22 | - | €215k | €231k | €223k | €215k | ▼ 3.5% |
| Plant, machinery and equipment23 | - | €6k | €6k | €5k | €6k | ▲ 12.3% |
| Furniture and vehicles24 | €16k | €6k | €5k | €5k | €3k | ▼ 38.3% |
| Current assets29/58 | €224k | €226k | €178k | €185k | €183k | ▼ 0.8% |
| Amounts receivable within one year40/41 | €183k | €175k | €170k | €178k | €173k | ▼ 3.0% |
| Trade receivables40 | €81k | €64k | €68k | €76k | €71k | ▼ 7.1% |
| Other amounts receivable41 | €101k | €112k | €102k | €102k | €102k | = |
| Cash at bank and in hand54/58 | €40k | €50k | €6k | €5k | €9k | ▲ 78.3% |
| Deferred charges and accrued income490/1 | €1k | €2k | €2k | €2k | €2k | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €240k | €453k | €420k | €418k | €407k | ▼ 2.6% |
| Equity10/15 | €142k | €132k | €148k | €159k | €160k | ▲ 0.9% |
| Contributions10/11 | €30k | €30k | €30k | €30k | €30k | = |
| Reserves13 | €106k | €102k | €118k | €129k | €130k | ▲ 1.1% |
| Non-distributable reserves130/1 | €45k | €45k | - | - | - | - |
| Reserves not available under the articles1311 | €3k | €3k | - | - | - | - |
| Other1319 | €42k | €42k | - | - | - | - |
| Distributable reserves133 | €61k | €57k | €118k | €129k | €130k | ▲ 1.1% |
| Profit (loss) carried forward14 | €6k | €0 | - | - | - | - |
| Amounts payable17/49 | €98k | €321k | €272k | €259k | €247k | ▼ 4.7% |
| Amounts payable after more than one year17 | €856 | €230k | €217k | €205k | €205k | = |
| Financial debts170/4 | €856 | €105k | €92k | €80k | €80k | = |
| Other amounts payable178/9 | - | €125k | €125k | €125k | €125k | = |
| Amounts payable within one year42/48 | €97k | €91k | €54k | €54k | €42k | ▼ 22.7% |
| Current portion of amounts payable after more than one year42 | €10k | €13k | €13k | €12k | - | - |
| Trade debts44 | €5k | €18k | €6k | €2k | €3k | ▲ 61.1% |
| Suppliers440/4 | €5k | €18k | €6k | €2k | €3k | ▲ 61.1% |
| Taxes, remuneration and social security45 | €21k | €5k | €12k | €10k | €3k | ▼ 66.3% |
| Taxes450/3 | €16k | €2k | €12k | €10k | €3k | ▼ 66.3% |
| Remuneration and social security454/9 | €4k | €2k | - | - | - | - |
| Other amounts payable47/48 | €61k | €55k | €23k | €30k | €35k | ▲ 17.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €-10k | €16k | €11k | €1k | ▼ 86.5% |
| + Depreciation and write-downs630 | €9k | €6k | €10k | €11k | €11k | ▼ 0.2% |
| Operating cash flow (approximation) | €4k | €-4k | €26k | €21k | €12k | ▼ 43.7% |
| Investment in fixed assets (approximation) | - | €-217k | €-24k | €-2k | €-1k | ▲ 27.8% |
| Change in cash | - | €10k | €-44k | €-1k | €4k | ▲ 439% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Equity above €150kEq €159k ▲7.3%
2 profitable years in a row build equity to €159k.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-10k
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
21-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 55 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 3.26
Current ratio from 0.99 to 3.26; short-term debt falls from €158k to €65k.
11-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 11 days late
2018
19-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 19 days late
2017
19-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2007
Ground area
1.0 ha
Building footprint
1,027 m²
Volume, LiDAR
20,018 m³
2 parcels, Flanders · tallest building 32.6 m, ±8 floors. Linked by address, not a title deed.
44
companies at this address
See who is registered here
1 establishment unit
BW PROJECTS
since 20072.164.089.794
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24038D0241/00V002 | Flanders | 7,244 m² | 1 · 796 m² | 32.6 m · 8 fl. |
| 24106A0248/00S000 | Flanders | 2,823 m² | 1 · 231 m² | 8.2 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,751 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-06-2007
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.