Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 5 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
Etudes et Projets from Tubize, company number BE0428983389, closed financial year 2026 with a result of € 49,669 after tax. For that financial year Etudes et Projets recorded a gross margin of € 67,283 and equity of € 813,412. Compared with financial year 2025, the result moved from € 21,124 to € 49,669. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 23, 2026.
€ 813,412
▲ 1% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 49,669
▲ 135% vs 2025
Profit after tax over the fiscal year.
€ 13,243
▼ 50% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2026. Retained profit grew to € 616,137.
People and assets in 2026
€ 7,729
▼ 19% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 253,358
▼ 15% vs 2025
€ 44,979 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 82
▼ 99% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 6,475
▲ 10% vs 2025
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | - | € 78,000 | € 96,000 | - | |
| Gross margin | € 88,626 | € 67,567 | € 80,029 | € 67,283 | ▼ 16% |
| Profit after taxes | € -7,862 | € -8,074 | € 21,124 | € 49,669 | ▲ 135% |
| Equity | € 632,418 | € 789,205 | € 804,526 | € 813,412 | ▲ 1% |
| Total debts | € 992,099 | € 849,759 | € 784,277 | € 704,853 | ▼ 10% |
| Cash | € 6,075 | € 60,694 | € 26,469 | € 13,243 | ▼ 50% |
| Land & buildings | € 1,916,842 | € 1,865,812 | € 1,816,248 | € 1,767,363 | ▼ 3% |
| Retained profit | € 553,418 | € 545,344 | € 566,468 | € 616,137 | ▲ 9% |
| Bank debt | € 381,872 | € 338,254 | € 297,865 | € 253,358 | ▼ 15% |
| Balance sheet total | € 1,941,461 | € 1,945,344 | € 1,884,617 | € 1,803,515 | ▼ 4% |
Key figures of Etudes et Projets, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to Etudes et Projets?
What happened at Etudes et Projets in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Didier Smits stepped down as director. NBB
- Isabelle Etienne stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 49,669 (▲ 135% vs 2025). Source: NBB ↗
- Didier Smits became a director. NBB
- Isabelle Etienne became a director. NBB
- New establishment in Tubize. KBO
- Start of the company according to the CBE. KBO
In short
From € 7,862 loss in 2023 to € 49,669 profit in 2026.
Paid € 388 in corporate taxes since 2023.
Best year ever: 2026, with € 49,669 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2026 annual accounts
Didier Smits
Managing director
since 2023 · until 2029
Isabelle Etienne
Director
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Rue Maurice Maeterlinck 3
1480 Tubize
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0428.983.389
- VAT number
- BE 0428.983.389
- Registered office
- Rue Maurice Maeterlinck 3, 1480 Tubize
- Names & denominations
- Etudes et Projets
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 April 1986
- Peppol
- Active · Active since 16 Oct 2025
- Activities · NACE
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