V+ PROJECT

Active

Private limited companyfounded 20215 yrs activeHaringstraat 41, 8531 Harelbeke, BelgiumKBO/BCE: BE 0762.855.411

The computed 12-month bankruptcy probability of V+ PROJECT is 3.0% (moderate). The 2025 annual accounts show equity of €9k and a net result of €3k. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 15% of 27172 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

40 / 100

Weak▼ -41 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency13▼-34

Growth32▼-46

Stability94

Bankruptcy probability, 12 months

3.0% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days only on tighter terms

Liquidity short (current ratio 0.76 against 1.1 in 2024), and 88.5% 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

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

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 27172 sector peers (2025).

NBB · sector comparison

Position among 27172 sector peers

Solvency

better than 15%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-03-2026, 122 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

122 d early

2024

59 d early

2023

139 d early

2022

137 d early

2021

157 d early

← before the deadline after the deadline →

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

10-09-2026 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, micro schema

Equity

€9k▼ 65.6%

2024 · €27k

2021: €9k 2022: €23k 2023: €21k 2024: €27k

2021 → 2025

Total assets

€81k▼ 13.4%

2024 · €93k

2021: €92k 2022: €97k 2023: €79k 2024: €93k

2021 → 2025

Net result

€3k▼ 48.0%

2024 · €6k

2021: €3k 2022: €13k 2023: €-2k 2024: €6k

2021 → 2025

Working capital

€-14k

2024 · €5k

2021: €-12k 2022: €-1k 2023: €-1k 2024: €5k

2021 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€9k-€23k▲ 140%€21k▼ 8.6%€27k▲ 30.5%€9k▼ 65.6%

Operating result€5k-€19k▲ 318%€431▼ 97.7%€11k▲ 2,360%€6k▼ 39.0%

Net result€3k-€13k▲ 286%€-2k€6k€3k▼ 48.0%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 39% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €81k

44.2%

55.8%

Fixed assets €36k▼ 18.5%

Current assets €45k▼ 8.8%

Equity and liabilities €81k

11%

88.5%

Equity €9k▼ 65.6%

Debt €72k▲ 7.8%

The debt ratio rises from 71.1% to 88.5%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€27k▼

2024 · €29k

Cash flow

€23k▼

2024 · €24k

Solvency

11.5%▼

2024 · 28.9%

Current ratio

0.76▼

2024 · 1.10

Quick ratio

0.41▼

2024 · 0.96

Debt / equity

7.73▲

2024 · 2.47

ROE

35.3%▲

2024 · 23.4%

ROA

4.0%▼

2024 · 6.7%

Interest coverage

21.05▲

2024 · 18.01

Debt

€72k▲

2024 · €67k

Debt ≤ 1 year

€59k▲

2024 · €45k

Debt > 1 year

€12k▼

2024 · €22k

Income taxes

€2k▼

2024 · €3k

Staff costs

€929▼

2024 · €3k

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

Balance sheet Code20242025

Assets

Total assets20/58€93k€81k▼

Fixed assets21/28€44k€36k▼

Tangible fixed assets22/27€41k€33k▼

Plant, machinery and equipment23€18k€13k▼

Furniture and vehicles24€23k€7k▼

Other tangible fixed assets26-€12k

Financial fixed assets28€3k€3k=

Current assets29/58€50k€45k▼

Stocks and contracts in progress3€7k€21k▲

Stocks30/36€7k€10k▲

Contracts in progress37-€10k

Amounts receivable within one year40/41€24k€18k▼

Trade receivables40€16k€16k▼

Other amounts receivable41€8k€2k▼

Cash at bank and in hand54/58€17k€5k▼

Deferred charges and accrued income490/1€2k€1k▼

Equity and liabilities

Total equity and liabilities10/49€93k€81k▼

Equity10/15€27k€9k▼

Contributions10/11€6k€6k=

Reserves13€21k€3k▼

Distributable reserves133€21k€3k▼

Amounts payable17/49€67k€72k▲

Amounts payable after more than one year17€22k€12k▼

Financial debts170/4€22k€12k▼

Amounts payable within one year42/48€45k€59k▲

Current portion of amounts payable after more than one year42€18k€12k▼

Trade debts44€14k€12k▼

Suppliers440/4€14k€12k▼

Taxes, remuneration and social security45€11k€15k▲

Taxes450/3€7k€11k▲

Remuneration and social security454/9€4k€4k=

Other amounts payable47/48€2k€20k▲

Income statement Code20242025

Remuneration, social security and pensions62€3k€929▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€20k▲

Other operating charges640/8€1k€1k▼

Gross operating margin9900€33k€29k▼

Operating profit (loss)9901€11k€6k▼

Financial income75/76B€68€136▲

Recurring financial income75€68€136▲

Financial charges65/66B€2k€1k▼

Recurring financial charges65€2k€1k▼

Profit (loss) for the period before taxes9903€9k€5k▼

Income taxes67/77€3k€2k▼

Profit (loss) for the period9904€6k€3k▼

Profit (loss) for the period to be appropriated9905€6k€3k▼

Appropriation of the result

Profit (loss) to be appropriated9906€6k€3k▼

Transfer from equity791/2-€21k

Transfer to equity691/2€6k€3k▼

To other reserves6921€6k€3k▼

Profit to be distributed694/7-€21k

Return on contributions (dividend)694-€21k

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 8Financial 3Filings 5

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

2026

31-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

02-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Back to profitnet €6k

Net result €6k after one loss-making year.

14-03

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet €-2k ▼115%

Net result drops to €-2k, the lowest in the series; recovery starts the following year.

16-03

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Highest result since 2021net €13k ▲286%

Operating result €19k, net result €13k, both a record.

24-02

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 1 act read

About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

1 act for this company is 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, Harelbeke · 2 establishment units since 2021

exact location from the address register On OpenStreetMap

Ground area

1.1 ha

Building footprint

368 m²

Volume, LiDAR

1,924 m³

2 parcels, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.

2 establishment units

V+ PROJECT

Haringstraat 41, 8531 HarelbekeManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20212.313.212.151

V+project

Stationsstraat 82B, 8860 LendeledeJoinery installation

since 20242.379.243.615

2 parcels

Flanders 2 (100%)