Equity
Equity fell by 86% in 4 years.
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 28% of them on solvency, 52% on liquidity, 70% on profitability and 96% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 875 companies had the same profile as 2B2C Projects has now. Each dot stands for 3 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of 2B2C Projects itself is lower: 0.1% within 12 months. It rests on far more data about 2B2C Projects than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 875 companies, not a prediction for 2B2C Projects. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is tight, with a current ratio of 1.08 (1.02 in 2024), below the usual 1.5. Short-term debt is 89.7% and cash 44.7% of total assets. 92.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 15 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| 2B2C Projects Heist-op-den-Berg | €1.6m | €126,475 | 7.1% | - |
| D&C PROJECTS Kapellen | €1.5m | €116,108 | 0.5% | 0.1 |
| STARRENHOF IMMO Kapellen | €1.5m | €135,464 | 20.6% | - |
| GO Invest Antwerp | €1.5m | €137,681 | 9.1% | - |
| N.O. CONSULTING Koksijde | €1.7m | €134,296 | 14.7% | 0 |
| JKS Bree | €1.7m | €122,610 | -0.3% | - |
| IMMO WATHAM Namur | €1.4m | €121,221 | 11.5% | - |
These companies have the same main activity as 2B2C Projects: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €1.4m and €1.7m, founded between 2017 and 2019.
2B2C Projects files the abbreviated format. That format states no turnover. The gross margin rose from -€74,034 in 2019 to €126,475 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €270,000. Estimated: probably between €170,000 and €620,000.
Higher than 26% of 11,299 companies in 2025.
Higher than 47% of 10,851 companies in 2025.
Higher than 74% of 11,184 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
1.6m | 1.8m | 1.8m | 2.0m | 4.1m | 8.7m | 1.1m | |
21/28 |
53,899 | 53,883 | 80,286 | 61,026 | 37,865 | 13,950 | 6,350 | |
22/27 |
51,099 | 51,883 | 77,086 | 52,626 | 28,165 | 2,250 | 3,150 | |
24 |
721 | 1,505 | 1,520 | 2,248 | 2,976 | 2,250 | 3,150 | |
26 |
50,378 | 50,378 | 75,566 | 50,378 | 25,189 | - | - | |
28 |
2,800 | 2,000 | 3,200 | 8,400 | 9,700 | 11,700 | 3,200 | |
29/58 |
1.5m | 1.7m | 1.7m | 1.9m | 4.1m | 8.7m | 1.1m | |
3 |
773,267 | 1.2m | 1.5m | 1.2m | 3.7m | 8.1m | 969,267 | |
30/36 |
773,267 | 1.2m | 1.5m | 1.2m | 1.7m | 8.1m | 969,267 | |
37 |
- | - | - | - | 2.0m | - | - | |
40/41 |
44,138 | 75,543 | - | 34,421 | 42,120 | 144,687 | 142,514 | |
40 |
3,845 | 65,543 | - | 34,421 | 42,120 | 144,687 | - | |
41 |
40,293 | 10,000 | - | - | - | - | 142,514 | |
54/58 |
703,187 | 467,984 | 249,119 | 707,577 | 341,951 | 378,928 | 3,482 | |
490/1 |
- | - | 1,388 | - | - | 10,290 | - | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
1.6m | 1.8m | 1.8m | 2.0m | 4.1m | 8.7m | 1.1m | |
10/15 |
111,899 | 29,865 | 289,164 | 506,979 | 795,708 | -351,374 | -106,748 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | |
13 |
93,299 | 35,270 | 270,564 | 488,379 | 777,108 | - | - | |
133 |
93,299 | 35,270 | 270,564 | 488,379 | 777,108 | - | - | |
14 |
- | -24,004 | - | - | - | -369,974 | -125,348 | |
17/49 |
1.5m | 1.8m | 1.5m | 1.4m | 3.3m | 9.0m | 1.2m | |
42/48 |
1.4m | 1.7m | 1.5m | 1.4m | 3.2m | 2.0m | 1.2m | |
42 |
- | - | - | 25,042 | 970,434 | 500,000 | - | |
43 |
- | - | - | - | - | - | 3,446 | |
430/8 |
- | - | - | - | - | - | 3,446 | |
44 |
91,382 | 296,656 | 85,587 | 443,430 | 279,984 | 30,046 | 32,807 | |
440/4 |
91,382 | 296,656 | 85,587 | 443,430 | 279,984 | 30,046 | 32,807 | |
46 |
- | - | - | - | - | 1,500 | 13,399 | |
45 |
- | 83,191 | 53,237 | 129,958 | 335,902 | 208,088 | - | |
450/3 |
- | 83,191 | 53,237 | 129,958 | 335,902 | 208,088 | - | |
47/48 |
1.3m | 1.3m | 1.3m | 849,278 | 1.6m | 1.3m | 1.2m | |
492/3 |
50,746 | 52,036 | 28,240 | 340 | 180,010 | 7.0m | - | |
| Income statement | ||||||||
76A |
- | - | - | 4,750 | - | - | - | |
9900 |
126,475 | 18,464 | 211,398 | 433,893 | 1.5m | -135,796 | -74,034 | |
630 |
784 | 717 | 728 | 728 | 308 | 900 | 1,350 | |
631/4 |
- | 14,085 | - | - | - | - | - | |
640/8 |
442 | 343 | 287 | 275 | 550 | 376 | 699 | |
66A |
- | - | - | - | 2,150 | - | - | |
9901 |
125,249 | 3,320 | 210,383 | 432,889 | 1.4m | -137,072 | -76,083 | |
75/76B |
- | 63 | 182 | 1 | 4,639 | 5 | 2 | |
75 |
- | 63 | 182 | 1 | 4,639 | 5 | 2 | |
65/66B |
22,981 | 27,386 | 24,417 | 38,933 | 52,449 | 107,558 | 49,267 | |
65 |
20,126 | 27,386 | 24,417 | 38,933 | 52,449 | 107,558 | 49,267 | |
66B |
2,855 | - | - | - | - | - | - | |
9903 |
102,269 | -24,004 | 186,149 | 393,958 | 1.4m | -244,625 | -125,348 | |
67/77 |
20,235 | - | 51,023 | 94,451 | 252,862 | - | - | |
9904 |
82,034 | -24,004 | 135,126 | 299,507 | 1.1m | -244,625 | -125,348 | |
9905 |
82,034 | -24,004 | 135,126 | 299,507 | 1.1m | -244,625 | -125,348 | |
| Appropriation of the result | ||||||||
9906 |
58,029 | -24,004 | 135,126 | 299,507 | 777,108 | -369,974 | -125,348 | |
14P |
-24,004 | - | - | - | -369,974 | - | - | |
791/2 |
- | 235,294 | 352,941 | 588,235 | - | - | - | |
691/2 |
58,029 | - | 135,126 | 299,507 | 777,108 | - | - | |
6921 |
58,029 | - | 135,126 | 299,507 | 777,108 | - | - | |
694/7 |
- | 235,294 | 352,941 | 588,235 | - | - | - | |
694 |
- | 235,294 | 352,941 | 588,235 | - | - | - | |
| Document | ||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 03-08-2026.
2025 annual accounts filed 3 days after the deadline. Filed on 3 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00373092.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 03-08-2026 | 2026-00373092 | |
| 31-12-2024 | abbreviated format | 22-07-2025 | 2025-00293383 | |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00181173 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00213101 | |
| 31-12-2021 | micro format | 22-06-2022 | 2022-20082148 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60200321 | |
| 31-12-2019 | micro format | 30-06-2020 | 2020-26600403 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| 126,033 | 4,037 | 211,112 | 433,617 | 1.4m | -136,172 | -74,733 | ||
| 82,817 | -23,287 | 135,854 | 300,235 | 1.1m | -243,725 | -123,998 | ||
| 800 | 27,091 | 75,566 | 25,189 | 28,473 | 8,500 | 7,700 | ||
| 235,203 | 218,865 | -458,458 | 365,626 | -36,977 | 375,445 | - | ||
| 108,746 | 28,019 | 237,118 | 446,294 | 937,852 | 6.7m | -113,098 | ||
| 7.1% | 1.7% | 16.2% | 25.9% | 19.2% | -4.0% | -9.5% | ||
| 1.08 | 1.02 | 1.16 | 1.31 | 1.30 | 4.32 | 0.91 | ||
| 0.53 | 0.32 | 0.17 | 0.51 | 0.12 | 0.27 | 0.12 | ||
| 13.07 | 58.67 | 5.18 | 2.86 | 4.20 | - | - | ||
| 73.3% | -80.4% | 46.7% | 59.1% | 144.2% | - | - | ||
| 5.2% | -1.3% | 7.6% | 15.3% | 27.7% | -2.8% | -11.2% | ||
| 6.26 | 0.15 | 8.65 | 11.14 | 27.61 | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €27,500 | - | - | €27,500 |
| - | €16.5m | - | - | €16.5m | |
| Carrying value of the mortgaged assets | - | €1.2m | - | - | €1.7m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €25,891 | €75,566 | €25,189 | €28,473 |
| Financial fixed assets | €800 | €1,200 | - | - | - |
| €784 | €717 | €728 | €728 | €308 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is nearly 38 times that of 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 98.3% to 92.9%. Equity is higher and debt is lower.
2B2C Projects has no parent and no holdings in its annual accounts. Johan Frans Jozef Marie-Marthe CATTERSEL is the only director.
| XPERTA
registered office since 08-01-2010 · founded in 2009 |
0.8 FTE (2025) 0819.666.133 |
| XPLUS
registered office since 22-10-2009 · founded in 2009 |
total assets €474,212 (2025) 0819.139.858 |
| QPAS
registered office since 21-09-2010 · founded in 2010 |
total assets €412,662 (2025) 0829.591.114 |
| DE BOOMGAARD
registered office since 11-06-2021 |
founded in 2021 0770.884.734 |
The connected companies are in the list below.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
All 31 environmental permit applications
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Bogaardenstraat 10 registered office 2220 Heist-op-den-Berg | 10-07-2018 | 2.277.743.904 |
| 12-01-2026 | Granted | Bouwen of herbouwen submitted 09-09-2025 · project 2025106561 | Putte |
| 23-12-2025 | Granted | Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen submitted 11-09-2025 · project 2025106254 | Putte |
| 24-11-2025 | Granted | Bouwen of herbouwen submitted 07-07-2025 · project 2025048575 | Putte |
| 13-10-2025 | Granted | Bouwen of herbouwen; Het reliëf van de bodem aanmerkelijk wijzigen submitted 13-06-2025 · project 2025074108 | Putte |
| 23-06-2025 | Granted | Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 19-12-2024 · project 2024161864 | Putte |
| 13-06-2025 | Discontinued | Bouwen of herbouwen submitted 13-06-2025 · project 2025069777 | Putte |
| 04-12-2024 | Discontinued | Bouwen of herbouwen submitted 12-09-2024 · project 2024111455 | Putte |
| 16-09-2024 | Granted | Bouwen of herbouwen submitted 06-05-2024 · project 2024065067 | Putte |
| 12-04-2024 | Discontinued | Bouwen of herbouwen submitted 14-03-2024 · project 2024033744 | Putte |
| 08-04-2024 | Granted | Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 16-02-2024 · project 2024021060 | Putte |
The 10 most recent of 31 applications.
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 12322I0924/00F000 | 5,902 m² | 1 · 346 m² | 8.4 m · 2 |
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