AUDAG PROJECT
ActiveSummary
AUDAG PROJECT has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,068 and a net result of €74. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 95% of 28281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+69
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 16.12 against 5.64 in 2024; short-term debt: 5.2% and cash: 8.3% of total assets), and 5.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.8%
Return on assets
0.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-09-2026, 49 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
49 d late
2024
70 d late
2023
2 d early
2022
60 d late
2021
31 d late
2020
76 d late
2019
63 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 50 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 18 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€85,068▲ 0.1%
2024 · €84,994
Total assets
€89,770▼ 9.5%
2024 · €99,239
Net result
€74
2024 · -€23,769
Working capital
€71,098▲ 7.5%
2024 · €66,161
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€49,199▲ 508%€32,210▼ 34.5%€12,845▼ 60.1%-€23,871-€220▲ 99.1%
Net result€44,608above the sector's middle half▲ 460%€23,514within the sector's middle half▼ 47.3%€9,250within the sector's middle half▼ 60.7%-€23,769below the sector's middle half€74below the sector's middle half
Equity€75,999within the sector's middle half▲ 142%€99,513within the sector's middle half▲ 30.9%€108,763within the sector's middle half▲ 9.3%€84,994within the sector's middle half▼ 21.9%€85,068within the sector's middle half▲ 0.1%
Total assets€146,833within the sector's middle half▲ 105%€144,690within the sector's middle half▼ 1.5%€127,832within the sector's middle half▼ 11.7%€99,239within the sector's middle half▼ 22.4%€89,770within the sector's middle half▼ 9.5%
Debt€70,834▲ 75.4%€45,178▼ 36.2%€19,070▼ 57.8%€14,246▼ 25.3%€4,702▼ 67.0%
Working capital€94,933above the sector's middle half▲ 54.5%€86,126within the sector's middle half▼ 9.3%€93,195above the sector's middle half▲ 8.2%€66,161within the sector's middle half▼ 29.0%€71,098within the sector's middle half▲ 7.5%
Solvency51.8%within the sector's middle half▲ 8.0pp68.8%above the sector's middle half▲ 17.0pp85.1%above the sector's middle half▲ 16.3pp85.6%above the sector's middle half▲ 0.6pp94.8%above the sector's middle half▲ 9.1pp
Current ratio3.23above the sector's middle half▼ 11.782.91within the sector's middle half▼ 0.325.89above the sector's middle half▲ 2.985.64above the sector's middle half▼ 0.2416.12above the sector's middle half▲ 10.48
Return on assets (ROA)30.4%above the sector's middle half▲ 19.3pp16.3%within the sector's middle half▼ 14.1pp7.2%within the sector's middle half▼ 9.0pp-24.0%below the sector's middle half▼ 31.2pp0.1%below the sector's middle half▲ 24.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €220 in 2025 against €23,871 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €89,770
Fixed assets
€13,970 ▼ 25.8%
Current assets
€75,800 ▼ 5.7%
Equity and liabilities €89,770
Equity
€85,068 ▲ 0.1%
Debt
€4,702 ▼ 67.0%
Debt's share of the balance-sheet total falls from 14.4% to 5.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,662▲
2024 · -€18,078
Cash flow
€5,957▲
2024 · -€17,976
Quick ratio
15.61▲
2024 · 5.50
Debt to equity
0.06▼
2024 · 0.17
ROE
0.1%▲
2024 · -28.0%
Interest coverage
11.76▲
2024 · -44.29
Debt ≤ 1 year
€4,702▼
2024 · €14,246
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,039 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,675 | €3,558 | €4,972 | €5,792 | €5,883 | ▲ 1.6% |
| Other operating charges640/8 | €1,187 | €348 | €447 | €450 | €3,474 | ▲ 671% |
| Gross operating margin9900 | €53,060 | €36,115 | €18,265 | -€17,628 | €9,137 | ▲ 152% |
| Operating profit (loss)9901 | €49,199 | €32,210 | €12,845 | -€23,871 | -€220 | ▲ 99.1% |
| Financial income75/76B | - | €1 | - | €510 | €776 | ▲ 52.2% |
| Recurring financial income75 | - | €1 | - | €510 | €776 | ▲ 52.2% |
| Financial charges65/66B | €130 | €297 | €330 | €408 | €481 | ▲ 18.0% |
| Recurring financial charges65 | €130 | €297 | €330 | €408 | €481 | ▲ 18.0% |
| Profit (loss) for the period before taxes9903 | €49,069 | €31,914 | €12,515 | -€23,769 | €74 | ▲ 100% |
| Income taxes67/77 | €4,461 | €8,400 | €3,265 | - | - | - |
| Profit (loss) for the period9904 | €44,608 | €23,514 | €9,250 | -€23,769 | €74 | ▲ 100% |
| Profit (loss) for the period to be appropriated9905 | €44,608 | €23,514 | €9,250 | -€23,769 | €74 | ▲ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €146,833 | €144,690 | €127,832 | €99,239 | €89,770 | ▼ 9.5% |
| Fixed assets21/28 | €9,251 | €13,386 | €15,567 | €18,832 | €13,970 | ▼ 25.8% |
| Tangible fixed assets22/27 | €9,251 | €13,386 | €15,567 | €18,832 | €13,970 | ▼ 25.8% |
| Plant, machinery and equipment23 | €7,528 | €11,651 | €12,050 | €11,049 | €7,898 | ▼ 28.5% |
| Furniture and vehicles24 | €1,723 | €1,735 | €3,518 | €7,783 | €6,072 | ▼ 22.0% |
| Current assets29/58 | €137,582 | €131,304 | €112,265 | €80,407 | €75,800 | ▼ 5.7% |
| Stocks and contracts in progress3 | €2,250 | €10,113 | €8,500 | €2,100 | €2,400 | ▲ 14.3% |
| Stocks30/36 | €2,250 | €10,113 | €8,500 | €2,100 | €2,400 | ▲ 14.3% |
| Amounts receivable within one year40/41 | €42,568 | €32,528 | €65,708 | €59,673 | €61,083 | ▲ 2.4% |
| Trade receivables40 | €40,390 | €29,553 | €41,710 | €28,623 | €30,129 | ▲ 5.3% |
| Other amounts receivable41 | €2,178 | €2,975 | €23,998 | €31,050 | €30,954 | ▼ 0.3% |
| Current investments50/53 | €18,219 | €18,219 | €18,219 | €6,754 | €4,212 | ▼ 37.6% |
| Cash at bank and in hand54/58 | €74,545 | €70,443 | €19,837 | €11,880 | €7,490 | ▼ 37.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | €615 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €146,833 | €144,690 | €127,832 | €99,239 | €89,770 | ▼ 9.5% |
| Equity10/15 | €75,999 | €99,513 | €108,763 | €84,994 | €85,068 | ▲ 0.1% |
| Contributions10/11 | €11,600 | €11,600 | €11,600 | €11,600 | €11,600 | = |
| Reserves13 | €49,862 | €73,376 | €82,626 | €82,626 | €82,626 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €3,394 | €3,394 | €3,394 | €3,394 | €3,394 | = |
| Distributable reserves133 | €44,608 | €68,122 | €77,372 | €77,372 | €77,372 | = |
| Profit (loss) carried forward14 | €14,537 | €14,537 | €14,537 | -€9,232 | -€9,158 | ▲ 0.8% |
| Amounts payable17/49 | €70,834 | €45,178 | €19,070 | €14,246 | €4,702 | ▼ 67.0% |
| Amounts payable after more than one year17 | €28,185 | - | - | - | - | - |
| Other amounts payable178/9 | €28,185 | - | - | - | - | - |
| Amounts payable within one year42/48 | €42,649 | €45,178 | €19,070 | €14,246 | €4,702 | ▼ 67.0% |
| Financial debts43 | - | - | €10,000 | €10,000 | - | - |
| Credit institutions430/8 | - | - | €10,000 | €10,000 | - | - |
| Trade debts44 | €37,967 | €22,755 | €6,918 | €4,246 | €4,702 | ▲ 10.7% |
| Suppliers440/4 | €37,967 | €22,755 | €6,918 | €4,246 | €4,702 | ▲ 10.7% |
| Taxes, remuneration and social security45 | €4,682 | €13,408 | €2,152 | - | - | - |
| Taxes450/3 | €4,682 | €13,408 | €2,152 | - | - | - |
| Other amounts payable47/48 | - | €9,015 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,608 | €23,514 | €9,250 | -€23,769 | €74 | ▲ 100% |
| + Depreciation and write-downs630 | €2,675 | €3,558 | €4,972 | €5,792 | €5,883 | ▲ 1.6% |
| Operating cash flow (approximation) | €47,283 | €27,072 | €14,222 | -€17,976 | €5,957 | ▲ 133% |
| Investment in fixed assets (approximation) | - | -€7,694 | -€7,153 | -€9,058 | -€1,020 | ▲ 88.7% |
| Change in cash | - | -€4,102 | -€50,606 | -€7,957 | -€4,391 | ▲ 44.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 49 days late
26-06
State Gazette act
Appointment: AUDAG Sébastien (director)Statutes amendment · Capital conversion · Reserve release13 facts ▸
State Gazette act
Appointment: AUDAG Sébastien (director)
Statutes amendment · Capital conversion · Reserve release13 facts ▸
- General meeting, 03-12-2025
- Statutes amendment
- Capital conversion, statutair onbeschikbare eigen vermogensrekening
- Reserve release, opheffing, middelen beschikbaar voor uitkering
- Other statement, nog niet gestorte gedeelte van het kapitaal(thans de statutaire onbeschikbare eigen vermogensrekening), vrijstelling volstortingsplicht
- Other statement, vertaling statuten, Derde besluit
- Other statement, vrijstelling voorlezing verslag, verslag opgesteld door de bestuurder overeenkomstig artikel 5:101 WVV
- Purpose change
- Statutes amendment
- Capital
- Director appointment, AUDAG Sébastien (director)
- Other statement, kwijting uittredende uitvoerende voorzitters, uitgesteld tot volgende algemene vergadering
- +1 further facts in this act
2025
31-12
Financial
Back to profitnet €74
Net result €74 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 16.12
Current ratio from 5.64 to 16.12; short-term debt falls from €14,246 to €4,702.
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 70 days late
2024
31-12
Financial
Weakest financial yearnet -€23,769
Net result drops to -€23,769, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 5.89
Current ratio from 2.91 to 5.89; short-term debt falls from €45,178 to €19,070.
31-12
Financial
Equity above €100,000Eq €108,763 ▲9.3%
4 profitable years in a row build equity to €108,763.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €44,608 ▲460%
Operating result €49,199, net result €44,608, both a record.
Show earlier events
15-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 76 days late
2020
31-12
Financial
Back to profitnet €7,962
Net result €7,962 after one loss-making year.
31-12
Financial
Liquidity times 10current ratio 15.01
Current ratio from 1.45 to 15.01; short-term debt falls from €36,601 to €4,387.
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2026
AUDAG Sébastien
CurrentDirector · since 26-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Genappe · 1 establishment unit since 2003
Ground area
4,929 m²
Building footprint
263 m²
Volume, LiDAR
1,554 m³
2 parcels, Flanders, Wallonia · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AUDAG PROJECT BVBA
since 20032.127.094.687
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23543K0321/00Y000 | Flanders | 3,497 m² | 1 · 173 m² | 8.4 m · 1 fl. |
| 25034C0219/00M000 | Wallonia | 1,432 m² | 1 · 90 m² | 9.6 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| AUDAG Sébastien |
|
Articles of association
Annual meeting
First Monday of June at 20:00
Name clause
AUDAG PROJECT
Legal form clause
Société à responsabilité limitée
Registered office clause
Région wallonne, par simple décision de l'organe d'administration,sièges administratifs,agences,ateliers,dépôts et succursales,tant en Belgique qu'à l'étranger
Other statement
Appels de fonds, organe d'administration
Nominatives, nature des actions
Article 13. Gestion journalière
Contrôle société, un ou plusieurs commissaires
Admission assemblée générale, titulaire titres nominatifs inscrit registre titres nominatifs catégorie
Séances procès-verbaux, registre tenu au siège pour décisions assemblée ou actionnaire unique
Toute personne actionnaire ou non par procuration écrite tout moyen transmission, délibérations vote
Organe d'administration, trois semaines
Répartition réserves, assemblée générale dans limites loi
Paiement dividendes acomptes, organe autorisé sous responsabilité conformément dispositions légales
Élection de domicile, autre domicile Belgique vis-à-vis société si élu
Tribunaux du siège, litige société actionnaires administrateurs commissaires liquidateurs affaires société exécution statuts
Droit commun, dispositions Code sociétés et associations non dérogables
Share issue rule
Apport en numéraire avec émission de nouvelles actions, organe qui procède à émission
Transfer restriction
Article 9. Cession d'actions
Board rule
Organe d'administration, tout moment effet immédiat sans motif
Fixe ou proportionnelle, frais généraux indépendamment frais représentation voyages déplacements
Dissolution rule
Formes modifications statuts, assemblée générale
Liquidation rule
Dissolution pour quelque cause et moment, désigner un ou plusieurs liquidateurs, déterminer pouvoirs émoluments
Liquidation distribution
Actif net entre actionnaires proportion actions, biens conservés remis même proportion
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Capital and shareholders
Capital over the years
- 26-06-2026 Converted to unavailable equity · 13,460 EUR
Similar companies · same sector, comparable size
Buiten werken Vanseuningen
BE 0797.866.075
Mechelen · Eq €85,048
MENELE
BE 0879.995.975
Grez-Doiceau · Eq €83,963
DEKNOCK PROJECTS
BE 0745.744.215
Torhout · Eq €86,609
Julien Lenartz Construction
BE 0656.576.964
Thimister-Clermont · Eq €86,782
JeVaTra
BE 1014.524.285
Sint-Truiden · Eq €87,692
Of 1,366 companies in sector 43110 we hold annual accounts for 635. 497 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-01-2003
Fiscal year end31-12
Activities, NACEBEL 2025
43110Demolition
43120Site preparation
43230Insulation installation
43240Other construction installation
43310Plastering work
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479216424
Registered
21-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.