C2 Project
ActiveSummary
C2 Project has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €805,358 and a net result of €573,010. Equity is growing by ~33% per year across the filed fiscal years. Its solvency ranks better than 30% of 2033 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▲+3
Solvency53▼-31
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 2.13 in 2024; short-term debt: 67.4% and cash: 23.7% of total assets), and 72.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
27.9%
Return on assets
19.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
31 d early
2024
28 d early
2023
127 d early
2022
22 d late
2021
30 d early
2020
26 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 37 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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 1 July (4 of the last 5 filed years within 52 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€573,010▼ 1.2%
2024 · €579,728
Working capital
€400,541▼ 72.9%
2024 · €1.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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€411,924▲ 75.0%€771,470▲ 87.3%€834,935▲ 8.2%€770,850▼ 7.7%€561,348▼ 27.2%
Net result€297,787above the sector's middle half▲ 102%€626,838above the sector's middle half▲ 110%€677,789above the sector's middle half▲ 8.1%€579,728above the sector's middle half▼ 14.5%€573,010above the sector's middle half▼ 1.2%
Equity€712,137within the sector's middle half▲ 71.9%€1.1mabove the sector's middle half▲ 52.9%€1.4mabove the sector's middle half▲ 24.2%€1.9mabove the sector's middle half▲ 42.9%€805,358above the sector's middle half▼ 58.3%
Total assets€1.6mwithin the sector's middle half▲ 40.5%€2.3mwithin the sector's middle half▲ 43.6%€2.6mwithin the sector's middle half▲ 13.7%€3.3mwithin the sector's middle half▲ 26.5%€2.9mabove the sector's middle half▼ 11.9%
Debt€872,215▲ 22.3%€1.2m▲ 35.9%€1.2m▲ 4.0%€1.3m▲ 8.5%€2.1m▲ 55.2%
Working capital€524,423above the sector's middle half▲ 108%€874,353above the sector's middle half▲ 66.7%€1.1mabove the sector's middle half▲ 29.7%€1.5mabove the sector's middle half▲ 30.4%€400,541within the sector's middle half▼ 72.9%
Solvency44.9%within the sector's middle half▲ 8.2pp47.9%within the sector's middle half▲ 2.9pp52.3%within the sector's middle half▲ 4.4pp59.1%within the sector's middle half▲ 6.8pp27.9%within the sector's middle half▼ 31.1pp
Current ratio1.68within the sector's middle half▲ 0.221.80within the sector's middle half▲ 0.121.95within the sector's middle half▲ 0.162.13within the sector's middle half▲ 0.171.21within the sector's middle half▼ 0.92
Return on assets (ROA)18.8%above the sector's middle half▲ 5.7pp27.6%above the sector's middle half▲ 8.8pp26.2%above the sector's middle half▼ 1.3pp17.7%above the sector's middle half▼ 8.5pp19.9%above the sector's middle half▲ 2.2pp
Staff (FTE)6.8within the sector's middle half▲ 17.2%7.7within the sector's middle half▲ 13.2%10.2within the sector's middle half▲ 32.5%13within the sector's middle half▲ 27.5%12.8above the sector's middle half▼ 1.5%
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 27% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€539,772 ▲ 12.4%
Current assets
€2.3m ▼ 16.1%
Equity and liabilities €2.9m
Equity
€805,358 ▼ 58.3%
Debt
€2.1m ▲ 55.2%
Debt's share of the balance-sheet total rises from 40.9% to 72.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€615,480▼
2024 · €810,589
Cash flow
€627,142▲
2024 · €619,467
Debt to equity
2.58▲
2024 · 0.69
ROE
71.1%▲
2024 · 30.0%
Interest coverage
121.22▼
2024 · 138.42
Debt ≤ 1 year
€1.9m▲
2024 · €1.3m
Debt > 1 year
€37,594▲
2024 · €4,652
Income taxes
€158,525▼
2024 · €205,133
Staff costs
€912,325▲
2024 · €880,374
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,679 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 2,679 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,089 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €469,437 | €468,453 | €680,407 | €880,374 | €912,325 | ▲ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,666 | €40,113 | €46,285 | €39,739 | €54,132 | ▲ 36.2% |
| Other operating charges640/8 | €1,834 | €5,776 | €7,665 | €6,573 | €8,670 | ▲ 31.9% |
| Non-recurring operating charges66A | €3,324 | - | - | €10,535 | - | - |
| Gross operating margin9900 | €919,184 | €1.3m | €1.6m | €1.7m | €1.5m | ▼ 10.0% |
| Operating profit (loss)9901 | €411,924 | €771,470 | €834,935 | €770,850 | €561,348 | ▼ 27.2% |
| Financial income75/76B | €2,167 | €206 | €3,830 | €19,867 | €175,265 | ▲ 782% |
| Recurring financial income75 | €2,167 | €206 | €3,830 | €19,867 | €175,265 | ▲ 782% |
| Financial charges65/66B | €4,306 | €4,637 | €4,512 | €5,856 | €5,077 | ▼ 13.3% |
| Recurring financial charges65 | €4,306 | €4,637 | €4,512 | €5,856 | €5,077 | ▼ 13.3% |
| Profit (loss) for the period before taxes9903 | €409,785 | €767,040 | €834,253 | €784,861 | €731,535 | ▼ 6.8% |
| Income taxes67/77 | €111,998 | €140,202 | €156,464 | €205,133 | €158,525 | ▼ 22.7% |
| Profit (loss) for the period9904 | €297,787 | €626,838 | €677,789 | €579,728 | €573,010 | ▼ 1.2% |
| Transfer to tax-exempt reserves689 | - | - | - | €273,650 | - | - |
| Profit (loss) for the period to be appropriated9905 | €297,787 | €626,838 | €677,789 | €306,078 | €573,010 | ▲ 87.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.3m | €2.6m | €3.3m | €2.9m | ▼ 11.9% |
| Fixed assets21/28 | €288,430 | €301,374 | €264,133 | €480,185 | €539,772 | ▲ 12.4% |
| Intangible fixed assets21 | €123,333 | €109,629 | €95,926 | €82,222 | €73,037 | ▼ 11.2% |
| Tangible fixed assets22/27 | €48,015 | €74,663 | €51,126 | €33,182 | €101,954 | ▲ 207% |
| Plant, machinery and equipment23 | €9,573 | €8,132 | €6,692 | €5,251 | €22,894 | ▲ 336% |
| Furniture and vehicles24 | €24,662 | €61,613 | €43,971 | €27,931 | €57,369 | ▲ 105% |
| Leasing and similar rights25 | €13,780 | €4,917 | €464 | - | €21,691 | - |
| Financial fixed assets28 | €117,081 | €117,081 | €117,081 | €364,781 | €364,781 | = |
| Current assets29/58 | €1.3m | €2.0m | €2.3m | €2.8m | €2.3m | ▼ 16.1% |
| Amounts receivable within one year40/41 | €463,384 | €759,996 | €658,022 | €583,944 | €764,659 | ▲ 30.9% |
| Trade receivables40 | €450,923 | €732,382 | €634,753 | €534,838 | €656,464 | ▲ 22.7% |
| Other amounts receivable41 | €12,461 | €27,613 | €23,269 | €49,106 | €108,195 | ▲ 120% |
| Current investments50/53 | - | - | - | €1.5m | €850,000 | ▼ 43.3% |
| Cash at bank and in hand54/58 | €805,064 | €1.2m | €1.6m | €659,504 | €682,097 | ▲ 3.4% |
| Deferred charges and accrued income490/1 | €27,474 | €39,193 | €48,911 | €46,766 | €45,048 | ▼ 3.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.3m | €2.6m | €3.3m | €2.9m | ▼ 11.9% |
| Equity10/15 | €712,137 | €1.1m | €1.4m | €1.9m | €805,358 | ▼ 58.3% |
| Contributions10/11 | €10,256 | €10,256 | €10,256 | €10,256 | €10,256 | = |
| Reserves13 | €199,831 | €199,831 | €51,689 | €325,339 | €325,339 | = |
| Non-distributable reserves130/1 | €1,026 | €1,026 | €1,026 | €1,026 | €1,026 | = |
| Reserves not available under the articles1311 | €1,026 | €1,026 | €1,026 | €1,026 | €1,026 | = |
| Tax-exempt reserves132 | - | - | - | €273,650 | €273,650 | = |
| Distributable reserves133 | €198,806 | €198,806 | €50,663 | €50,663 | €50,663 | = |
| Profit (loss) carried forward14 | €502,050 | €878,887 | €1.3m | €1.6m | €469,764 | ▼ 70.6% |
| Amounts payable17/49 | €872,215 | €1.2m | €1.2m | €1.3m | €2.1m | ▲ 55.2% |
| Amounts payable after more than one year17 | €92,695 | €81,150 | €35,293 | €4,652 | €37,594 | ▲ 708% |
| Financial debts170/4 | €92,695 | €81,150 | €35,293 | €4,652 | €37,594 | ▲ 708% |
| Amounts payable within one year42/48 | €771,499 | €1.1m | €1.2m | €1.3m | €1.9m | ▲ 48.0% |
| Current portion of amounts payable after more than one year42 | €130,868 | €183,197 | €210,856 | €155,978 | €176,655 | ▲ 13.3% |
| Trade debts44 | €523,490 | €559,878 | €574,668 | €896,647 | €1.0m | ▲ 13.1% |
| Suppliers440/4 | €523,490 | €559,878 | €574,668 | €896,647 | €1.0m | ▲ 13.1% |
| Taxes, remuneration and social security45 | €116,056 | €103,599 | €135,559 | €191,455 | €248,602 | ▲ 29.8% |
| Taxes450/3 | €45,637 | €24,981 | €23,415 | €39,513 | €74,511 | ▲ 88.6% |
| Remuneration and social security454/9 | €70,419 | €78,618 | €112,145 | €151,942 | €174,091 | ▲ 14.6% |
| Other amounts payable47/48 | €1,086 | €252,119 | €266,353 | €67,296 | €502,190 | ▲ 646% |
| Accrued charges and deferred income492/3 | €8,021 | €5,602 | €10,000 | €22,023 | €97,361 | ▲ 342% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €297,787 | €626,838 | €677,789 | €579,728 | €573,010 | ▼ 1.2% |
| + Depreciation and write-downs630 | €32,666 | €40,113 | €46,285 | €39,739 | €54,132 | ▲ 36.2% |
| Operating cash flow (approximation) | €330,454 | €666,951 | €724,073 | €619,467 | €627,142 | ▲ 1.2% |
| Investment in fixed assets (approximation) | - | -€53,057 | -€9,044 | -€255,791 | -€113,719 | ▲ 55.5% |
| Change in cash | - | €368,892 | €440,329 | -€954,781 | €22,593 | ▲ 102% |
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
31-08
State Gazette act
Registered officeRegistered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Registered-office move · Power of attorney3 facts ▸
- Board meeting, 13-08-2026
- Registered-office move, Avenue du Japon 14 à 1420 Braine L'Alleud
- Power of attorney, SRL Fiscalys
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
26-03
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2020net €677,789 ▲8.1%
Operating result €834,935, net result €677,789, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
2022
31-12
Financial
Equity above €1mEq €1.1m ▲52.9%
3 profitable years in a row build equity to €1.1m.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €500,000Eq €712,137 ▲71.9%
2 profitable years in a row build equity to €712,137.
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Braine-l'Alleud · 1 establishment unit since 2019
Ground area
1,370 m²
Building footprint
227 m²
Volume, LiDAR
2,950 m³
Parcel 25744D0152/00N000, Wallonia · tallest building 14.8 m, ±4 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
Avenue du Japon 14, 1420 Braine-l'Alleud
since 20192.298.174.280
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25744D0152/00N000 | Wallonia | 1,369 m² | 1 · 227 m² | 14.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 2 holdingsChain of control
- C²Project Participations
- C2 Project
Highest known parent: C²Project Participations. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 2
-
100%
-
100%
According to the 2025 annual accounts of C2 Project and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 18,254 companies in sector 71111 we hold annual accounts for 6,321. 3,200 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
Founded11-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
71111Activities of building architects
71121Engineering and related technical consultancy, excluding land surveyors
74999Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738979850
Also
9925:BE0738979850
Registered
08-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.