AK Projects
ActiveSummary
The computed 12-month bankruptcy probability of AK Projects is 9.5% (elevated). The 2024 annual accounts show equity of €94,233 and a net result of €8,887. Its solvency ranks better than 57% of 7,409 sector peers (NACE 43, financial year 2024). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-11-2022 Normal situation
- Activity
- Joinery installation NACE 43320and 5 others
- Joint committee
- 124 Construction · annual accounts 2024
- Establishment unit
- 2.337.834.909 3600 Genk, since 21-11-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 30-10-2025
Board and ownership
- KAVALCI YalcinDirector · since 14-11-2022
- KAVALCI Yalcin100 sharesdeed of 17-11-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 9.5%
- Gross margin
- €64,084
- ▼ 66.9%
- Turnover
- ≈ €270,000
- estimated
- Profit
- €8,887
- ▼ 89.5%
- Equity
- €94,233
- ▲ 10.4%
- Total assets
- €191,905
- ▲ 28.8%
- Employees on 31-12-2024
- 2
- =
- 2025 accounts not filed, 97 days past the deadline
Score breakdownraises risk1 financial year not filed after the legal deadline; last filed accounts filed 182 days late; 2 of the last 3 accounts lateLiquidity: current ratio 1.91Figures for financial year 2024 (filed on 06-02-2026)Size: 2 FTE, total assets €191,905Show the evidence
Checked score
About 9 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 43, micro). It does better than 53% of them on solvency, 41% on liquidity, 48% on profitability and 56% on growth.
The bankruptcy probability was computed on 04-11-2026 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 31-12-2024.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 110 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, abbreviated format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 29-01-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2024 is 89% lower than in 2023.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-12-2023 | 31-12-2024 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 2 |
| full-time | 2 | 2 |
| in full-time equivalents | 2 | 2 |
| Average over the year, in full-time equivalents | 1.8 | 2 |
| On a permanent contract | 2 | 2 |
| Joined | 4 | - |
| Left | 2 | - |
Source: social balance sheet in the 2023 to 2024 annual accounts
Investments
| Item | 2023 | 2024 |
|---|---|---|
| Tangible fixed assets | €9,110 | - |
| Depreciation and write-downs of the year | €1,656 | €2,223 |
Source: notes to the 2023 to 2024 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Non-recurring operating income76A | €6,457 | - | - |
| Remuneration, social security and pensions62 | €78,365 | €49,421 | ▼ 36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,656 | €2,223 | ▲ 34.2% |
| Other operating charges640/8 | €1,056 | €272 | ▼ 74.3% |
| Non-recurring operating charges66A | €5,892 | - | - |
| Gross operating margin9900 | €193,504 | €64,084 | ▼ 66.9% |
| Operating profit (loss)9901 | €106,535 | €12,169 | ▼ 88.6% |
| Financial income75/76B | €4 | €17 | ▲ 346% |
| Recurring financial income75 | €4 | €17 | ▲ 346% |
| Financial charges65/66B | €64 | €688 | ▲ 978% |
| Recurring financial charges65 | €64 | €688 | ▲ 978% |
| Profit (loss) for the period before taxes9903 | €106,475 | €11,498 | ▼ 89.2% |
| Income taxes67/77 | €21,929 | €2,611 | ▼ 88.1% |
| Profit (loss) for the period9904 | €84,546 | €8,887 | ▼ 89.5% |
| Profit (loss) for the period to be appropriated9905 | €84,546 | €8,887 | ▼ 89.5% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €149,032 | €191,905 | ▲ 28.8% |
| Fixed assets21/28 | €7,454 | €5,230 | ▼ 29.8% |
| Tangible fixed assets22/27 | €7,454 | €5,230 | ▼ 29.8% |
| Plant, machinery and equipment23 | €2,300 | €1,296 | ▼ 43.6% |
| Furniture and vehicles24 | €5,154 | €3,934 | ▼ 23.7% |
| Current assets29/58 | €141,578 | €186,675 | ▲ 31.9% |
| Amounts receivable after more than one year29 | €76,500 | €77,100 | ▲ 0.8% |
| Trade receivables290 | €76,500 | €77,100 | ▲ 0.8% |
| Amounts receivable within one year40/41 | €55,357 | €109,575 | ▲ 97.9% |
| Trade receivables40 | €51,499 | €105,208 | ▲ 104% |
| Other amounts receivable41 | €3,858 | €4,367 | ▲ 13.2% |
| Cash at bank and in hand54/58 | €9,648 | - | - |
| Deferred charges and accrued income490/1 | €73 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €149,032 | €191,905 | ▲ 28.8% |
| Equity10/15 | €85,346 | €94,233 | ▲ 10.4% |
| Contributions10/11 | €800 | €800 | = |
| Profit (loss) carried forward14 | €84,546 | €93,433 | ▲ 10.5% |
| Amounts payable17/49 | €63,685 | €97,672 | ▲ 53.4% |
| Amounts payable within one year42/48 | €63,685 | €97,672 | ▲ 53.4% |
| Trade debts44 | €22,147 | €7,275 | ▼ 67.2% |
| Suppliers440/4 | €22,147 | €7,275 | ▼ 67.2% |
| Advances received on contracts in progress46 | - | €32,000 | - |
| Taxes, remuneration and social security45 | €26,794 | €9,540 | ▼ 64.4% |
| Taxes450/3 | €21,929 | €9,540 | ▼ 56.5% |
| Remuneration and social security454/9 | €4,866 | - | - |
| Other amounts payable47/48 | €14,744 | €48,858 | ▲ 231% |
| Line | 2023 | 2024 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €84,546 | €8,887 | ▼ 89.5% |
| + Depreciation and write-downs630 | €1,656 | €2,223 | ▲ 34.2% |
| Operating cash flow (approximation) | €86,203 | €11,110 | ▼ 87.1% |
| Investment in fixed assets (approximation) | - | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,546 companies had the same profile as AK Projects has now. Two years later, 94.3% were still going and 2.3% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of AK Projects itself is higher: 9.5% within 12 months. It rests on far more data about AK Projects than the profile alone.
Test of the method
The method was tested on the 497,446 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 2,546 companies, not a prediction for AK 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.
Board & ownership
Directors
Board 1
Other functions 1
Owners and capital
Shareholders
- KAVALCI Yalcin 100 shares (100%)
Capital transactions
- 17-11-2022 Incorporation · €2,000 · 100 shares
Mandate history
- Board
- Other function
| Name | Functions and periods |
|---|---|
| KAVALCI Yalcin |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- 100 shares
Articles of association, deed of 17-11-2022 (in Dutch)
Network & group
AK Projects shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of AK Projects. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
17-11
Gazette deed
IncorporationFounding capital of €2,000, 100 shares · Founder: KAVALCI Yalcin · Appointment: KAVALCI Yalcin (director)4 points ▸
- Registered office clause, Genk, August Collonstraat 1
- Director appointment, KAVALCI Yalcin (director (not named in the articles))
- Founder, KAVALCI Yalcin
- Founding capital, €2,000, 100 shares
- The deed holds 2 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
15 activities
- HVAC (dit wil zeggen onder meer : verwarmings, ventilatie, sanitair en koeling)
- Algemene laswerken
- Vervaardiging van metalen constructiewerken en delen daarvan
- De vervaardiging, het onderhoud en de herstelling van producten van metaal, machines in het algemeen, en metalen werkstukken voor rekening van derden door toepassing van diverse technieken: boren (onder meer : diamantboren), draaien, frezen, vonk erosief bewerken, schaven, lappen, trekfrezen, vlakken, zagen, slijpen, lassen, enz.. .
- Dergelijke artikelen van onedele metalen
- Slopen
- Loodgieterswerk
- Plaatsen van tussenwanden van gipsplaten
- De installatie in gebouwen en andere bouwwerken van elektrische bedrading en toebehoren, hulpvoedingssystemen, bedrading voor telefooninstallaties en computersystemen, elektrische verwarmingsinstallaties, liften en roltrappen, bewakingssystemen en alarminstallaties, antennes en bliksemafleiders
- Het leggen van tegelvloeren en mozaïek, en het plaatsen van alle andere wand- en vloerbekledingen
- Het leggen van chape- en egalisatievloeren
- Plafonneer-, cementeer- en alle andere pleisterwerken
- Berapingswerken
- Het installeren van sanitaire inrichtingen en het plaatsen van lood- en zinkwerk
- Algemene bouwwerkzaamheden in het ruimste zin van het woord met inbegrip van voltooiingswerken, coördinatie en voltooiing van woningen.
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0793.533.541
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71308A0818/00X128 | Flanders | 247 m² | 1 · 78 m² | 10.4 m · 2 |