Active BE 0682.893.856Private limited company

C-born Projects

Barkenlaan 8 ·8660 De Panne, Belgium· 8 yrs active

Sector: Insulation installation (43230)

Conclusion Checked

C-born Projects has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €125k and a net result of €47k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 60% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€125k
Net result	€47k
Better than sector	60%
Active	8 yrs

Financial profile 5 of 5 axes measured · computed by Checked

93 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93

Profitability 100

Solvency 96

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.9% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2017, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

93 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€12k

estimate, not credit advice

Score history

88 2021

7 2022

71 2023

100 2024

93 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 2.79 (≥ 1.5) +10

Quick ratio Quick ratio 2.73 (≥ 1.0) +5

Leverage Debt/equity 0.90 (< 1.0) +10

Profitability ROE 38% (≥ 10%) +10

Interest coverage Interest coverage 17.2× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview7 NBB filings

Annual accounts filed on 28-04-2026 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Sector comparison

Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	52.7%	44.0%	better than 60% of 7448 sector peers
Net result	€47k	€30k	better than 58% of 7444 sector peers
Equity	€125k	€276k	better than 33% of 7449 sector peers
Gross operating margin	€90k	€275k	better than 31% of 7433 sector peers
Total assets	€237k	€742k	better than 23% of 7448 sector peers

EBITDA

€85k

-20.7% 21-25

Net profit

€47k

-41.9% 21-25

Cash flow

€64k

-21.9% 21-25

Total assets

€237k

+58.4% 21-25

Equity

€125k

+60.3% 21-25

Working capital

€94k

+44.8% 21-25

Staff costs

€194

-98.8% 21-25

Income taxes

€18k

-21.2% 21-25

Dividends

€905

- 21-25

Debt

€112k

+56.3% 21-25

Debt ≤ 1y

€53k

+11.4% 21-25

Debt > 1y

€59k

+143.5% 21-25

Current ratio

2.79

+17.3% 21-25

Quick ratio

2.73

+25.0% 21-25

Solvency

52.7%

+1.2% 21-25

Debt / equity

0.90

-2.5% 21-25

ROE

37.6%

-63.8% 21-25

ROA

19.8%

-63.3% 21-25

Interest coverage

17.22

-76.1% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	abbreviated schema	micro schema	abbreviated schema	abbreviated schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€85k	€107k	€29k	€-29k	€8k
Net profit	€47k	€81k	€26k	€-31k	€15k
Cash flow	€64k	€83k	€28k	€-30k	€16k
Staff costs	-	-	€194	€16k	€11k
Income taxes	€18k	€23k	-	-	-
Dividends	-	€905	-	-	-
Total assets	€237k	€149k	€60k	€35k	€28k
Equity	€125k	€78k	€11k	€-15k	€15k
Debt	€112k	€72k	€49k	€50k	€13k
of which ≤ 1y	€53k	€47k	€49k	€50k	€13k
of which > 1y	€59k	€24k	-	-	-
Working capital	€94k	€65k	€7k	€-20k	€13k
Employees (FTE)	-	-	-	-	-

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	2.79	2.38	1.15	0.59	2.04
Quick ratio	2.73	2.18	0.81	0.17	0.71
Working capital ratio	39.8%	43.6%	12.1%	-58.1%	47.2%
Solvency	52.7%	52.0%	18.1%	-43.4%	54.6%
Debt / equity	0.90	0.92	4.52	-3.30	0.83
Long-term debt ratio	0.48	0.31	-	-	-
Interest coverage	17.22	71.92	21.54	-28.61	9.17
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	19.8%	54.0%	43.4%	-89.4%	51.8%
ROE	37.6%	103.9%	239.3%	206.0%	94.9%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €90k · 37.9% Current assets €147k · 62.1%

Equity & liabilities

Equity €125k · 52.7% Debt €112k · 47.3%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€237k	€149k	€60k	€35k	€28k
Fixed assets	21/28	€90k	€37k	€4k	€5k	€2k
Tangible fixed assets	22/27	€90k	€37k	€4k	€5k	€2k
Current assets	29/58	€147k	€112k	€57k	€30k	€26k
Stocks & contracts in progress	3	€3k	€9k	€17k	€21k	€17k
Amounts receivable within one year	40/41	€42k	€52k	€25k	€85	€4k
Cash & bank	54/58	€92k	€49k	€13k	€8k	€4k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€237k	€149k	€60k	€35k	€28k
Equity	10/15	€125k	€78k	€11k	€-15k	€15k
Contributions / capital	10/11	€10k	€10k	€10k	€10k	€9k
Reserves	13	€115k	€68k	-	-	-
Accumulated profits (losses)	14	-	-	€905	€-25k	€6k
Amounts payable	17/49	€112k	€72k	€49k	€50k	€13k
Amounts payable after one year	17	€59k	€24k	-	-	-
Amounts payable within one year	42/48	€53k	€47k	€49k	€50k	€13k
Trade debts payable within one year	44	€10k	€8k	€6k	€15k	€1k
Income statement
Gross operating margin	9900	€90k	€108k	€30k	€-12k	€21k
Operating result	9901	€68k	€105k	€27k	€-30k	€7k
Financial income	75	€3k	€103	€8	€12	€9k
Financial charges	65	€5k	€1k	€1k	€1k	€848
Result before taxes	9903	€65k	€104k	€26k	€-31k	€15k
Income taxes	67/77	€18k	€23k	-	-	-
Net result for the period	9904	€47k	€81k	€26k	€-31k	€15k
Result to be appropriated	9905	€47k	€81k	€26k	€-31k	€15k

Legal Structure

NACE primary	Insulation installation(43230)
Legal form	Private limited company(610)
Incorporation	13-10-2017
Status	Active
Postal code	8660

Establishment units 1 location

C-born Projects

Barkenlaan 8, 8660 De PanneSpecialised construction activities

since 20172.270.837.801

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
38008A0700/00A000	Flanders	610 m²	1 · 183 m²	13.7 m · 4 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 7 events

All 12Financial 5Filings 7

Next filing, fiscal year 2026, expected by 30-04-2027

2026

28-04

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

30-09

Financial Equity above €100kEq €125k ▲60.3%

3 profitable years in a row build equity to €125k.

01-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-09

Financial Highest result since 2021net €81k ▲209%

Operating result €105k, net result €81k, both a record.

30-09

Financial Liquidity doublescurrent ratio 2.38

Current ratio from 1.15 to 2.38; short-term debt falls from €49k to €47k.

20-03

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

30-09

Financial Back to profitnet €26k

Net result €26k after one loss-making year.

08-05

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 8 days late

2022

30-09

Financial Weakest financial yearnet €-31k ▼315%

Net result drops to €-31k, the lowest in the series; recovery starts the following year.

10-05

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 10 days late

2020

28-08

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 28 days late

2019

20-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 20 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Insulation installation43230Retail sale of clothing and accessories for women, men, children and babies (general range)47716Other construction installation43240Other non-specialised retail sale47120Retail trade47715Retail trade47910

Names & trade names

Legal nameNL

C-born Projects

Similar companies Comparable size · 1,205 of 4,226 companies in this sector with filed accounts

MULTI TECHNICS SERVICES BE 0791.622.344 · Sint-Pieters-Leeuw

PLACO-LINE BE 0648.626.330 · Liège

IsoCool BE 0546.854.821 · Waregem

DAKWERKEN DE BOECK PIETER BE 0826.399.814 · Asse

TOITURES HECQ BE 0795.858.868 · Binche