CAVELL PROJECTS

Active

Public limited companyfounded 20179 yrs activeKunstlaan 58, 1000 Brussel, BelgiumKBO/BCE: BE 0676.976.361

Summary

CAVELL PROJECTS has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €337k and a net result of €174k. Equity is growing by ~28.8% per year across the filed fiscal years. Its solvency ranks better than 67% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

87 / 100

Excellent

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100▲+62

Solvency85▼-15

Growth52=

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €25k at 30 days acceptable

Liquidity ample (current ratio 2.48 against 8.66 in 2024; short-term debt: 40.3% and cash: 81% of total assets), and 40.3% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

59.7%

Return on assets

30.8%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-05-2026, 87 days ahead of the deadline.

NBB · 9 filings

Deviation from the deadline

2025

87 d early

2024

98 d early

2023

78 d early

2022

32 d early

2021

88 d early

2020

103 d early

2019

87 d early

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

24-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

€829k▼ 97.9%

2022 · €39.38M

2019: €4.42M 2021: €297k 2022: €39.38M

2019 → 2023

EBIT margin

99.2%▲ 93.2pp

2022 · 6.0%

2019: 63.0% 2021: 126.8% 2022: 6.0%

2019 → 2023

Net result

€174k▲ 20,640%

2024 · €840

2018: €-240k 2019: €1.98M 2020: €16k 2021: €135k 2022: €1.68M 2023: €581k 2024: €840

2018 → 2025

Working capital

€337k▼ 92.3%

2024 · €4.38M

2018: €1.98M 2019: €4.01M 2020: €4.09M 2021: €4.27M 2022: €6.01M 2023: €4.38M 2024: €4.38M

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€297k-€39.38M▲ 13,165%€829k▼ 97.9%

Equity€2.12M-€3.80M▲ 79.5%€4.38M▲ 15.3%€4.38M=€337k▼ 92.3%

Operating result€377k-€2.37M▲ 531%€823k▼ 65.3%€-119k€180k

Net result€135k-€1.68M▲ 1,145%€581k▼ 65.5%€840▼ 99.9%€174k▲ 20,640%

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €180k after a loss of €119k in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €565k

100.0%

Fixed assets €1 =

Current assets €565k ▼ 88.6%

Equity and liabilities €565k

59.7%

40.3%

Equity €337k ▼ 92.3%

Debt €227k ▼ 60.2%

The debt ratio rises from 11.5% to 40.3%. Equity and debt are lower.

Key figures and ratios

2025 value · change against 2024

Current ratio

2.48▼

2024 · 8.66

Quick ratio

2.37▼

2024 · 8.47

Debt / equity

0.67▲

2024 · 0.13

ROE

51.6%▲

2024 · 0.0%

ROA

30.8%▲

2024 · 0.0%

Debt ≤ 1 year

€227k▼

2024 · €572k

Income taxes

€58k▲

2024 · €280

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines

Balance sheet Code20242025

Assets

Total assets20/58€4.96M€565k▼

Fixed assets21/28€1€1=

Financial fixed assets28€1€1=

Current assets29/58€4.96M€565k▼

Stocks and contracts in progress3€110k€25k▼

Stocks30/36€110k€25k▼

Amounts receivable within one year40/41€102k€81k▼

Trade receivables40€6k€6k=

Other amounts receivable41€95k€75k▼

Cash at bank and in hand54/58€4.72M€457k▼

Deferred charges and accrued income490/1€20k€1k▼

Equity and liabilities

Total equity and liabilities10/49€4.96M€565k▼

Equity10/15€4.38M€337k▼

Contributions10/11€250k€250k=

Capital10€250k€250k=

Issued capital100€250k€250k=

Reserves13€86k€86k=

Non-distributable reserves130/1€86k€86k=

Legal reserve130€86k€86k=

Profit (loss) carried forward14€4.05M€2k▼

Amounts payable17/49€572k€227k▼

Amounts payable within one year42/48€572k€227k▼

Trade debts44€572k€7k▼

Suppliers440/4€572k€7k▼

Taxes, remuneration and social security45€0-

Taxes450/3€0-

Other amounts payable47/48-€220k

Income statement Code20242025

Other operating charges640/8€2k€1k▼

Gross operating margin9900€-117k€181k▲

Operating profit (loss)9901€-119k€180k▲

Financial income75/76B€121k€53k▼

Recurring financial income75€121k€53k▼

Financial charges65/66B€1k€477▼

Recurring financial charges65€1k€477▼

Profit (loss) for the period before taxes9903€1k€233k▲

Income taxes67/77€280€58k▲

Profit (loss) for the period9904€840€174k▲

Profit (loss) for the period to be appropriated9905€840€174k▲

Appropriation of the result

Profit (loss) to be appropriated9906€4.05M€4.22M▲

Profit (loss) brought forward from the previous period14P€4.05M€4.05M=

Profit to be distributed694/7-€4.22M

Return on contributions (dividend)694-€4.22M

The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 15Financial 5Gazette 1Filings 9

Next filing, fiscal year 2026, expected by 31-07-2027

2026

20-08

State Gazette act Resignations & appointments

General meeting · Director resignation · Director appointment5 facts ▸

General meeting, 10-08-2026
Director resignation, Serge FAUTRE (director)
Director appointment, ADEL YAHIA CONSULT SRL (director)
Permanent representative, Adel YAHIA
Mandate compensation, ADEL YAHIA CONSULT SRL

05-05

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

24-04

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

14-05

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Liquidity triplescurrent ratio 8.62

Current ratio from 3.15 to 8.62; short-term debt falls from €2.79M to €575k.

29-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Liquidity doublescurrent ratio 3.15

Current ratio from 1.32 to 3.15; short-term debt falls from €13.35M to €2.79M.

04-05

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

31-12

Financial Equity above €2MEq €2.12M ▲6.8%

3 profitable years in a row build equity to €2.12M.

19-04

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

05-05

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Back to profitnet €1.98M

Net result €1.98M after one loss-making year.

31-12

Financial Equity above €1MEq €1.97M

Equity rises from €-14k to €1.97M.

25-04

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

27-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 director, no change since 2026

ADEL YAHIA CONSULT

Director · since 01-09-2026 · Private limited company (pre-2019) · perm. rep.: Adel YAHIA

Current

01-09-2026 ADEL YAHIA CONSULT: Appointed as Director

01-09-2026 Serge Fautré: Resigned as Director

Location & real-estate footprint

Registered office, Brussel · 1 establishment unit since 2017

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Kunstlaan 581000 Brussel

Ground area

3,149 m²

Building footprint

3,026 m²

Volume, LiDAR

70,303 m³

Parcel 21805E0482/00C000, Brussels · tallest building 31.9 m, ±9 floors. Linked by address, not a title deed.

1 establishment unit

Cavell Projects

Kunstlaan 58, 1000 BrusselReal estate development

since 20172.266.969.578

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21805E0482/00C000	Brussels	3,149 m²	1 · 3,026 m²	31.9 m · 9 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Structure & network

Connections & network

15 connected companies

Shared directorsBundled connections

Network connections

AG FINANCE

Shared corporate director

→

AG REAL ESTATE

Shared corporate director

→

AG REAL ESTATE CAR PARK

Shared corporate director

→

AG REAL ESTATE WESTINVEST

Shared corporate director

→

Show 11 more network connections

ANIMA

Shared corporate director

→

CANAL WHARF

Shared corporate director

→

DBFM Scholen van Morgen

Shared corporate director

→

FScholen

Shared corporate director

→

MECHELEN RAGHENO SITE

Shared corporate director

→

PARC DE L'ALLIANCE

Shared corporate director

→

PRESTIBEL LEFT VILLAGE

Shared corporate director

→

REGATTA-L.O.

Shared corporate director

→

Scholen van Vlaanderen (Perceel 1)

Shared corporate director

→

Schoolkracht

Shared corporate director

→

URBAN LIVING BELGIUM

Shared corporate director

→

Ownership & control

1 party

Control over this companysits on this company's board1

ADEL YAHIA CONSULT

7 subsidiaries · 1 location

controls

CAVELL PROJECTSBE 0676.976.361

Similar companies · same sector, comparable size

QUOTRON

BE 0476.318.894

Geraardsbergen · Eq €342k

Of 1,292 companies in sector 68122 we hold annual accounts for 901. 587 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded20-06-2017

Fiscal year end31-12

Activities, NACEBEL

68122Development of non-residential building projects

Sources

Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.