Equity
-€2,747
Debts exceed assets in financial year 2025.
AE PROJECT
Overview
Lifetime
3 annual accounts with figures on one time axispeak €21,847 (2025)
€21,847▲ €34,775
lowest -€13,911 (2024)
€14,834▲ €28,744
peak -€2,747 (2025)
-€2,747▲ €14,834
€23,870▼ 37.0%
Board2 names since 2023
1 directorELAERTS Alice
Documentsfilings and deeds
29-09-202660 days late
2025micro format
Gross margin from -€12,928 to €21,847Back to profit: €14,834Equity from -€17,580 to -€2,747Debts from €37,872 to €23,870Cash from €1,999 to €141
Key points
from the 2025 annual accountsTurnover
≈ €100,000 estimated
The micro format states no turnover.
Debts
€23,870 113% of the balance sheet
Suppliers 5%Taxes and wages 1%Other 94%
Filings
3 annual accounts 2 late
The 2025 accounts came latest: 60 days after the end of the period.
Board
1 joined
New director. Latest change 09-11-2026 · 2 in office.
Position in the sector
-13.0%
Lower solvency than 92% of companies in head offices and management consultancy. Sector median 55.5% · 39,376 companies.
Checked score
55
Fair
Financially stronger than 45% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,572 companies (NACE 70, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%lowest value
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025
04-2025: 0.3%● unchanged vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.4%▲ +0.1 percentage points vs 06-2025
08-2025: 0.5%▲ +0.1 percentage points vs 07-2025
09-2025: 0.6%▲ +0.1 percentage points vs 08-2025
10-2025: 0.8%▲ +0.2 percentage points vs 09-2025
11-2025: 0.8%● unchanged vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026
08-2026: 1.1%▲ +0.3 percentage points vs 07-2026
09-2026: 1.2%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.8%▼ -0.4 percentage points vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Last filed accounts filed 60 days late; 2 of the last 3 accounts late
Negative equity -€2,747
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Size: total assets €21,124
Calculation
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 70, micro). It does better than 7% of them on solvency, 2% on liquidity, 84% on profitability and 87% on growth.
The bankruptcy probability was computed on 10-11-2026 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 low class on 30-06-2025, 0.8% 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).
Comparable companies, two years later
In July 2024, 1,017 companies had the same profile as AE PROJECT has now. Each dot stands for 3 companies, two years later.
89.2%
were still trading
4.0%
stopped another way
6.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of AE PROJECT itself is lower: 0.8% within 12 months. It rests on far more data about AE PROJECT than the profile alone.
Test of the method
The method was tested on the 497,448 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 1,017 companies, not a prediction for AE PROJECT. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.5 (0.14 in 2024), below 1. Short-term debt is 113% and cash 0.7% of total assets. Equity is negative.
Credit check for an amount and term of your choice
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.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 39376 sector peers (2025).
NBB · sector comparisonPosition among 39376 sector peers
Solvency
better than 8%
← weakest
strongest →
raises risk · 2025 accounts filed 60 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-09-2026, 60 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
60 days late
2024
55 days late
2023
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 38 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 September (3 of the last 3 accounts filed within 54 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered office moved from Ath to Seneffe
Transfer of 10 shares · New registered office: Rue des CANADIENS 38-B-7180 SENEFFE · Previous registered office: Chaussée de Bruxelles, 147 à 7800 Ath · General meeting of 01-04-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0803623224
Incorporation
Founding capital of €1,000, 10 shares · Founder: ELAERTS Alice · Appointment: ELAERTS Alice (director) · published on 07-07-2023 · Gazette deed
First establishment
Chaussée de Bruxelles 147, Ath
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AE PROJECT Seneffe | €21,124 | €21,847 | -13.0% | - |
| A.S. ADVICE Saint-Ghislain | €22,177 | €18,747 | 89.0% | - |
| Phil Eggen Projects Antwerp | €22,401 | €21,933 | 58.5% | - |
| We-Management Antwerp Brecht | €21,161 | €22,224 | 65.4% | - |
| XIRUSO Aarschot | €23,067 | €19,865 | 69.7% | - |
| STSA-solutions Londerzeel | €22,630 | €18,507 | 87.4% | - |
| Benfor Ixelles | €22,806 | €18,862 | -24.1% | - |
These companies have the same main activity as AE PROJECT: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €21,200 and €23,100, founded in 2023.
Official details
Source: KBO- Status
- Active since 05-07-2023Normal situation
- Activity
- Business and other management consultancyNACE 70200and 4 others
- Establishment unit
- 2.350.486.3807800 Ath, since 05-07-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €21,847
- €14,834
- -€2,747▲ 84.4%
- €21,124▲ 4.1%
- Filing
- Filed on 29-09-2026
Insights on AE PROJECT
AE PROJECT files the micro format. That format states no turnover. The gross margin rose from -€3,325 in 2023 to €21,847 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 29-09-2026, 60 days late€21,847
▲ €34,775
€15,317
▲ €29,185
€19,882
▲ €33,198
€19,399
▲ €32,757
-13.0%
▲ 73.6 percentage points
0.50
▲ 0.37
Money flows
no detail for 2025Balance sheet
balance sheet total €21,124 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
-13.0%
Higher than 8% of 39,376 companies in 2025.
0.50
Higher than 11% of 38,058 companies in 2025.
70.2%
Higher than 95% of 38,530 companies in 2025.
AE PROJECT
Middle half of the sector
80% of the sector
Micro accounts in head offices and management consultancy (NACE 70)
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
21,124 | 20,292 | 4,388 | |
21/28 |
9,108 | 15,145 | - | |
21 |
- | - | 0 | |
22/27 |
9,108 | 15,145 | - | |
23 |
- | 1,472 | - | |
24 |
9,108 | 13,673 | - | |
29/58 |
12,016 | 5,147 | 4,388 | |
40/41 |
11,875 | 3,147 | 2,420 | |
40 |
11,816 | - | 2,420 | |
41 |
59 | 3,147 | - | |
54/58 |
141 | 1,999 | 1,968 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
21,124 | 20,292 | 4,388 | |
10/15 |
-2,747 | -17,580 | -3,669 | |
10/11 |
1,000 | 1,000 | 1,000 | |
14 |
-3,747 | -18,580 | -4,669 | |
17/49 |
23,870 | 37,872 | 8,057 | |
42/48 |
23,870 | 37,872 | 8,057 | |
44 |
1,184 | 15,000 | 1,345 | |
440/4 |
1,184 | 15,000 | 1,345 | |
45 |
132 | - | 268 | |
450/3 |
132 | - | 268 | |
47/48 |
22,554 | 22,872 | 6,445 | |
| Income statement | ||||
70 |
- | - | 2,800 | |
9900 |
21,847 | -12,928 | -3,325 | |
60/61 |
- | - | 6,125 | |
630 |
4,566 | 553 | 949 | |
640/8 |
1,965 | 387 | 384 | |
9901 |
15,317 | -13,868 | -4,658 | |
75/76B |
2 | - | - | |
75 |
2 | - | - | |
65/66B |
353 | 42 | 12 | |
65 |
353 | 42 | 12 | |
9903 |
14,966 | -13,911 | -4,669 | |
67/77 |
132 | - | - | |
9904 |
14,834 | -13,911 | -4,669 | |
9905 |
14,834 | -13,911 | -4,669 | |
| Appropriation of the result | ||||
9906 |
-3,747 | -18,580 | -4,669 | |
14P |
-18,580 | -4,669 | - | |
| 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 29-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 60 days after the deadline. Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00529902.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 19,882 | -13,315 | -3,709 | ||
| 19,399 | -13,357 | -3,720 | ||
| -1,472 | 15,698 | 949 | ||
| -1,858 | 31 | - | ||
| -11,854 | -32,725 | -3,669 | ||
| -13.0% | -86.6% | - | ||
| 0.50 | 0.14 | - | ||
| 70.2% | -68.6% | - | ||
| 56.32 | -315.98 | -321.96 | ||
| - | - | 315 days | ||
| - | - | 80 days |
EBIT margin. Not meaningful: turnover is only a small part of operating income.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | €15,698 | - |
| Intangible fixed assets | - | - | €949 |
| €4,566 | €553 | €949 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on AE PROJECT
The operating result for 2025 is a profit of €15,317, after a loss of €13,868 in 2024. It is the highest result since 2023.
Equity is negative. Debt (€23,870) exceeds the balance-sheet total (€21,124).
Board & ownership
Board
2 directors, no change since November 2026Director (not named in the articles)
appointed by deed of 07-07-2023
earlier director, until 09-11-2026
Mandates through the years
2 names, the dashed line is todayELAERTS Alice
Director (not named in the articles)
Director (not named in the articles)
Muriel GELLENS
Director
Director
BoardEarlier
Mandates as a list
- ELAERTS Alice
- Director (not named in the articles), appointed by deed of 07-07-2023, until 09-11-2026
- Director (not named in the articles), appointed by deed of 07-07-2023, still in office
- Muriel GELLENS
- Director, appointed by deed of 09-11-2026, still in office
Control
Capital
- Contribution
- €1,000
- Shares
- 10
- Contribution per share
- €100
- Equity per share
- -€275 in 2025
- Source
- deed of 07-07-2023
Articles of association
deed of 07-07-2023 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Un ou plusieurs administrateurs, assemblée qui nomme”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
Share transfer
deed of 09-11-2026 ↗
- shares transferred 10 shares
At incorporation
deed of 07-07-2023 ↗
- ELAERTS Alice 10 shares (100%) · €1,000 in cash
Network & group
No group
AE PROJECT has no parent and no holdings in its annual accounts.
Earlier ties
| CHALEUR CONCEPTION via Alice ELAERTS, no longer at CHALEUR CONCEPTION · Director · deed of 30-11-2023 founded in 2018 |
total assets €1.1m (2025) |
Connections & network
The network starts from the earlier ties.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Timeline
9 events since 2023Board
Capital
Filings
Financial
Establishments
Address
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Registered office moved from Ath to SeneffeTransfer of 10 shares · New registered office: Rue des CANADIENS 38-B-7180 SENEFFE · Previous registered office: Chaussée de Bruxelles, 147 à 7800 Ath · General meeting of 01-04-20266 points ▸
- General meeting, 01-04-2026
- Share transfer, 10 shares
- Director resignation, Alice ELAERTS
- Director appointment, Muriel GELLENS
- Registered-office move, Rue des CANADIENS 38-B-7180 SENEFFE
- Power of attorney, Muriel GELLENS
Registered in the Peppol Directory Reachable for e-invoices through 0208:0803623224
Annual accounts 2025 filed NBBmicro format · 60 days late
2025
Back to profit net €14,834 The net result is €14,834, after 2 loss-making years.
Annual accounts 2024 filed PDFmicro format · 55 days late
2024
Weakest financial year net -€13,911 The net result drops to -€13,911, the lowest from 2023 to 2025. It recovers the following year.
Annual accounts 2023 filed PDFmicro format · on the deadline day
2023
IncorporationFounding capital of €1,000, 10 shares · Founder: ELAERTS Alice · Appointment: ELAERTS Alice (director) · published on 07-07-20235 points ▸
- Founder, ELAERTS Alice
- Founding capital, €1,000, 10 shares
- Registered office clause, Chaussée de Bruxelles 147, 7800 Ath
- Director appointment, ELAERTS Alice (director (not named in the articles))
- Power of attorney, SURMONT Sylvie
- The deed holds 7 more points.
First establishment Chaussée de Bruxelles 147, Ath
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0803.623.224
- VAT number
- BE 0803.623.224
- Peppol ID
- 0208:0803623224
- Other Peppol ID
- 9925:BE0803623224
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 05-07-2023
- Financial year
- ends on 31 December
- Peppol
- Reachable since 21-10-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- AE PROJECT in French
- Name in the Peppol Directory
- A&E PROJECT
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 07-07-2023 (in French)
Activities
NACEBEL 202570200
Business and other management consultancy main activity
85592
Vocational training
Codes under NACEBEL 2008
70220
Business consulting main activity
70210
Activities of head offices; management consultancy activities
82300
Organisation of conventions and trade shows
85592
Vocational training
86909
Human health activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Prestations de conseils et accompagnement auprès des entreprises, collectivités, particuliers et autres organismes publics ou privés…”deed of 07-07-2023 (in French)
12 activities
- Prestations de conseils et accompagnement auprès des entreprises, collectivités, particuliers et autres organismes publics ou privés. Conseil en stratégie, organisation, management, gestion, système d’information, ressources humaines, marketing et communication, de la conception à la mise en œuvre. Coaching personnalisé, services de formation ainsi que toute opération ou prestation se rattachant directement ou indirectement à l’objet.
- Le coaching de professionnels, collectivités et particuliers en gestion, management ; conseil en conduite du changement, la négociation, la médiation et la résolution de conflits ; le coaching individuel ou collectif en vue de construire la vision stratégique de l’entreprise et d’aider à la prise de décision
- Toute activité se rapportant directement ou indirectement à la consultance dans divers domaines et notamment dans les secteurs du management, de la gestion, de la communication, communication digitale, graphisme et web design, ainsi que dans le secteur de la gestion administrative, tous secteurs confondus ; le conseil et la formation en gestion des affaires
- La gestion logistique, commerciale, opérationnelle, la direction journalière de toutes sociétés ;
- Le management en général ;
- Elle peut organiser des salons, conférences, cours, coaching, formations, e-learning, avec ou sans supports online et plus généralement tous évènements
- L’organisation et la gestion de tous types d’événements.
- Elle peut procéder à tous conseils pour toutes affaires et conseils en gestion d’entreprises.
- L'achat, la vente, la mise en vente ou en location, l'échange, la construction, la reconstruction, la démolition, la transformation, l'exploitation, la location et la gérance de tous immeubles bâtis, meublés ou non;
- L'achat, la vente, l'échange, la mise en valeur, le lotissement, l'exploitation, la location et l'affermage de tous immeubles non bâtis.
- Le suivi et la coordination de chantiers ;
- Elle peut donner à bail ses installations et exploitations ou les donner à gérer à des tiers, en tout ou en partie.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Rue des Canadiens 38 registered office 7180 Seneffe | ||
| Chaussée de Bruxelles 147 7800 Ath | 05-07-2023 | 2.350.486.380 |
1 former office
- 7800 Ath until the deed of 09-11-2026
Buildings and parcels at the addresses
- Ground area
- 448 m²
- Buildings
- 137 m²
- Volume, LiDAR
- 1,178 m³
- Tallest building
- 11.9 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 51004B0446/00A002 | 260 m² | 1 · 75 m² | 8.5 m · 3 |
| 52063C0217/00B003 | 188 m² | 1 · 62 m² | 11.9 m · 4 |
Contact
E-mail
elaerts.alice@gmail.com
Phone
+32 493 33 02 66