Square Projects
ActiveSummary
Square Projects has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6k and a net result of €-5k. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 65% of 7500 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-15
Solvency83▼-17
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
57.6%
Return on assets
-46.8%
Age of the figures
18 mo
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
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
19202122232425
2019 to 2025 · latest year €-5k
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-10-2025, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
on the day
2023
15 d early
2022
3 d early
2021
2 d early
2020
10 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€6k▼ 44.8%
2024 · €12k
2019: €6k
2020: €2k▼ -70.1% vs 2019
2021: €2k▼ -5.6% vs 2020lowest in 7 years
2022: €4k▲ +135% vs 2021
2023: €12k▲ +195% vs 2022highest in 7 years
2024: €12k▼ -4.3% vs 2023
2025: €6k▼ -44.8% vs 2024
2019 → 2025
Total assets
€11k▼ 28.3%
2024 · €16k
2019: €77khighest in 7 years
2020: €39k▼ -48.9% vs 2019
2021: €19k▼ -51.6% vs 2020
2022: €8k▼ -59.9% vs 2021lowest in 7 years
2023: €19k▲ +150% vs 2022
2024: €16k▼ -18.4% vs 2023
2025: €11k▼ -28.3% vs 2024
2019 → 2025
Net result
€-5k▼ 907%
2024 · €-517
2019: €-34klowest in 7 years
2020: €-4k▲ +87.0% vs 2019
2021: €-103▲ +97.6% vs 2020
2022: €2k▲ +2385% vs 2021
2023: €8k▲ +239% vs 2022highest in 7 years
2024: €-517▼ -106% vs 2023
2025: €-5k▼ -907% vs 2024
2019 → 2025
Working capital
€5k▼ 57.2%
2024 · €11k
2019: €22khighest in 7 years
2020: €16k▼ -28.3% vs 2019
2021: €2k▼ -88.8% vs 2020lowest in 7 years
2022: €4k▲ +135% vs 2021
2023: €11k▲ +169% vs 2022
2024: €11k▼ -4.6% vs 2023
2025: €5k▼ -57.2% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2k-€4k▲ 135%€12k▲ 195%€12k▼ 4.3%€6k▼ 44.8%
2021: €2klowest in 5 years
2022: €4k▲ +135% vs 2021
2023: €12k▲ +195% vs 2022highest in 5 years
2024: €12k▼ -4.3% vs 2023
2025: €6k▼ -44.8% vs 2024
Operating result€274-€2k▲ 792%€8k▲ 232%€-424€-5k▼ 1,096%
2021: €274
2022: €2k▲ +792% vs 2021
2023: €8k▲ +232% vs 2022highest in 5 years
2024: €-424▼ -105% vs 2023
2025: €-5k▼ -1096% vs 2024lowest in 5 years
Net result€-103-€2k€8k▲ 239%€-517€-5k▼ 907%
2021: €-103
2022: €2k▲ +2385% vs 2021
2023: €8k▲ +239% vs 2022highest in 5 years
2024: €-517▼ -106% vs 2023
2025: €-5k▼ -907% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5k in 2025 against €424 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11k
Fixed assets
€2k ▲ 78.6%
Current assets
€9k ▼ 36.2%
Equity and liabilities €11k
Equity
€6k ▼ 44.8%
Debt
€5k ▲ 20.8%
Debt's share of the balance-sheet total rises from 25.2% to 42.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-4k▼
2024 · €-158
Cash flow
€-5k▼
2024 · €-251
Current ratio
1.96▼
2024 · 3.70
Quick ratio
1.71▼
2024 · 3.11
Debt to equity
0.74▲
2024 · 0.34
ROE
-81.2%▼
2024 · -4.5%
ROA
-46.8%▼
2024 · -3.3%
Interest coverage
-34.97▼
2024 · -1.46
Debt ≤ 1 year
€5k▲
2024 · €4k
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€16k€11k▼
Fixed assets21/28€1k€2k▲
Tangible fixed assets22/27€1k€2k▲
Plant, machinery and equipment23€1k€2k▲
Current assets29/58€14k€9k▼
Stocks and contracts in progress3€2k€1k▼
Stocks30/36€804€1k▲
Contracts in progress37€2k€0▼
Amounts receivable within one year40/41€4k€4k▼
Trade receivables40€3k€3k=
Other amounts receivable41€333€259▼
Cash at bank and in hand54/58€8k€4k▼
Deferred charges and accrued income490/1€207€207▲
Equity and liabilities
Total equity and liabilities10/49€16k€11k▼
Equity10/15€12k€6k▼
Contributions10/11€6k€6k=
Reserves13€5k€209▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€5k€209▼
Amounts payable17/49€4k€5k▲
Amounts payable within one year42/48€4k€5k▲
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€93€0▼
Taxes450/3€93€0▼
Other amounts payable47/48€2k€2k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€266€582▲
Other operating charges640/8€499€802▲
Gross operating margin9900€341€-4k▼
Operating profit (loss)9901€-424€-5k▼
Financial income75/76B€16€0▼
Recurring financial income75€16€0▼
Financial charges65/66B€108€129▲
Recurring financial charges65€108€129▲
Profit (loss) for the period before taxes9903€-517€-5k▼
Profit (loss) for the period9904€-517€-5k▼
Profit (loss) for the period to be appropriated9905€-517€-5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-517€-5k▼
Profit (loss) brought forward from the previous period14P€0-
Transfer from equity791/2€517€5k▲
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (7 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €-40 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €118 | €0 | €201 | €266 | €582 | ▲ 118% |
| Other operating charges640/8 | - | €509 | €460 | €499 | €802 | ▲ 60.6% |
| Gross operating margin9900 | €10k | €3k | €9k | €341 | €-4k | ▼ 1,182% |
| Operating profit (loss)9901 | €274 | €2k | €8k | €-424 | €-5k | ▼ 1,096% |
| Financial income75/76B | - | €37 | €6 | €16 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | €37 | €6 | €16 | €0 | ▼ 100% |
| Financial charges65/66B | - | €120 | €112 | €108 | €129 | ▲ 18.7% |
| Recurring financial charges65 | €378 | €120 | €112 | €108 | €129 | ▲ 18.7% |
| Profit (loss) for the period before taxes9903 | €-103 | €2k | €8k | €-517 | €-5k | ▼ 907% |
| Profit (loss) for the period9904 | €-103 | €2k | €8k | €-517 | €-5k | ▼ 907% |
| Profit (loss) for the period to be appropriated9905 | €-103 | €2k | €8k | €-517 | €-5k | ▼ 907% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19k | €8k | €19k | €16k | €11k | ▼ 28.3% |
| Fixed assets21/28 | - | - | €1k | €1k | €2k | ▲ 78.6% |
| Tangible fixed assets22/27 | - | - | €1k | €1k | €2k | ▲ 78.6% |
| Plant, machinery and equipment23 | - | - | €1k | €1k | €2k | ▲ 78.6% |
| Current assets29/58 | €19k | €8k | €18k | €14k | €9k | ▼ 36.2% |
| Stocks and contracts in progress3 | - | - | - | €2k | €1k | ▼ 48.7% |
| Stocks30/36 | - | - | - | €804 | €1k | ▲ 47.1% |
| Contracts in progress37 | - | - | - | €2k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €19k | €7k | €15k | €4k | €4k | ▼ 2.1% |
| Trade receivables40 | - | €7k | €13k | €3k | €3k | = |
| Other amounts receivable41 | - | €596 | €2k | €333 | €259 | ▼ 22.5% |
| Cash at bank and in hand54/58 | €59 | €12 | €3k | €8k | €4k | ▼ 48.4% |
| Deferred charges and accrued income490/1 | - | €188 | €318 | €207 | €207 | ▲ 0.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19k | €8k | €19k | €16k | €11k | ▼ 28.3% |
| Equity10/15 | €2k | €4k | €12k | €12k | €6k | ▼ 44.8% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €6k | €5k | €209 | ▼ 96.1% |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | - | €4k | €5k | €209 | ▼ 96.1% |
| Profit (loss) carried forward14 | €-6k | €-4k | €0 | - | - | - |
| Amounts payable17/49 | €17k | €3k | €7k | €4k | €5k | ▲ 20.8% |
| Amounts payable within one year42/48 | €17k | €3k | €7k | €4k | €5k | ▲ 20.8% |
| Trade debts44 | €57 | €3k | €5k | €2k | €3k | ▲ 52.2% |
| Suppliers440/4 | - | €3k | €5k | €2k | €3k | ▲ 52.2% |
| Taxes, remuneration and social security45 | - | €0 | - | €93 | €0 | ▼ 100% |
| Taxes450/3 | - | €0 | - | €93 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €20 | €2k | €2k | €2k | ▼ 1.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-103 | €2k | €8k | €-517 | €-5k | ▼ 907% |
| + Depreciation and write-downs630 | €118 | €0 | €201 | €266 | €582 | ▲ 118% |
| Operating cash flow (approximation) | €14 | €2k | €8k | €-251 | €-5k | ▼ 1,744% |
| Investment in fixed assets (approximation) | - | - | - | €-262 | €-1k | ▼ 440% |
| Change in cash | - | €-47 | €3k | €5k | €-4k | ▼ 176% |
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
2025
14-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
16-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Highest result since 2019net €8k ▲239%
Operating result €8k, net result €8k, both a record.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
10-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 10 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Diksmuide · 1 establishment unit since 2011
Ground area
993 m²
Building footprint
150 m²
Volume, LiDAR
681 m³
Parcel 32024D0302/00C000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Square Projects
since 20112.199.983.853
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 32024D0302/00C000 | Flanders | 993 m² | 1 · 150 m² | 7.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 2,451 companies in sector 41003 we hold annual accounts for 1,055. 400 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
Founded04-05-2011
Fiscal year end31-03
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
Scores and ratios are computed by Checked and are not a credit decision.