Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 31 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Haelvoet Projects from Ingelmunster, company number BE0449261240, closed financial year 2025 with a result of € -398,617 after tax. For that financial year Haelvoet Projects recorded revenue of € 1.5 million and equity of € -208,209. Compared with financial year 2024, the result moved from € -434,159 to € -398,617. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on January 13, 2026.
€ -208,209
▼ € 398,617 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -398,617
▲ 8 % less loss than in 2024
Profit after tax over the fiscal year.
€ 49,701
▼ 47% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2025
10.7
▲ 0.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 699,067
▼ 7% vs 2024
€ 65,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 45,452
▼ 24% vs 2024
Of which on lease € 42,458.
Debts at end 2025
€ 39,992
▼ 23% vs 2024
€ 13,164 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 684,159
▲ 19% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 188 days on average.
€ 59,306
▲ 22% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,403,614 | € 2,197,128 | € 1,630,101 | € 1,547,928 | ▼ 5% |
| Profit after taxes | € -369,464 | € -98,701 | € -434,159 | € -398,617 | ▲ € 35,542 |
| Equity | € -79,232 | € -177,933 | € 190,408 | € -208,209 | ▼ € 398,617 |
| Total debts | € 926,214 | € 1,315,731 | € 941,163 | € 1,199,017 | ▲ 27% |
| Cash | € 190,939 | € 56,321 | € 93,362 | € 49,701 | ▼ 47% |
| Retained profit | € -140,732 | € -239,433 | € -673,592 | € -1,072,209 | ▼ € 398,617 |
| Bank debt | € 40,021 | € 29,438 | € 51,801 | € 39,992 | ▼ 23% |
| Balance sheet total | € 846,982 | € 1,137,798 | € 1,131,571 | € 990,808 | ▼ 12% |
| Employees (FTE) | 9.6 | 10.7 | 10.4 | 10.7 | ▲ 0.3 |
Key figures of Haelvoet Projects, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to Haelvoet Projects?
What happened at Haelvoet Projects in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- HLV Group BV stepped down as director. NBB
- TPM Consulting BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 398,617. Source: NBB ↗
- HLV Group BV became a director. NBB
- TPM Consulting BV became a director. NBB
- New establishment in Ingelmunster. KBO
- Start of the company according to the CBE. KBO
In short
From € 369,464 loss in 2022 to € 398,617 loss in 2025.
Paid € 2,537 in corporate taxes since 2022.
Pays suppliers within 188 days on average.
Management
The stake of HLV Group comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Haelvoet ProjectsThe shares are held by HLV Group (100%).
Directors
According to the 2025 annual accounts
Managing director · represented by Vincent Haelvoet
since 2020 · until 2026
since 2020 · until 2026
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Leon Bekaertstraat 6
8770 Ingelmunster
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Website info
Features
Security
Network
Details
- Company number
- 0449.261.240
- VAT number
- BE 0449.261.240
- Registered office
- Leon Bekaertstraat 6, 8770 Ingelmunster
- Names & denominations
- Haelvoet Projects
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 January 1993
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- haelvoet-projects.be
- Activities · NACE
Schrijnwerk
Schrijnwerk van hout of van kunststof
Vervaardiging van ander schrijn- en timmerwerk
Vervaardiging van schrijn- en timmerwerk
Vervaardiging van keukenmeubelen