COLED Projects
ActiveSummary
COLED Projects has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,600 and a net result of €68,307. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 18% of 11,772 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-01-2019 Normal situation
- Activity
- Other technical testing and analysis NACE 71209and 2 others
- Establishment unit
- 2.284.966.840 2400 Mol, since 29-01-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 16-05-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €95,037
- ▲ 38.8%
- Turnover
- ≈ €210,000
- estimated
- Profit
- €68,307
- ▲ 10.4%
- Equity
- €18,600
- ▼ 29.5%
- Total assets
- €123,765
- ▲ 40.6%
Score breakdownraises riskEquity €18,600 (15.0% of total assets)lowers riskSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Liquidity: current ratio 1.12, cash €93,573Size: total assets €123,765Show the evidence
Checked score
Fewer than 1 in 1,000 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 71, micro). It does better than 19% of them on solvency, 38% on liquidity, 88% on profitability and 17% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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 7 accounts on average 43 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 13-03-2026 PDF all 7 filings
Every figure per financial year
The operating result for 2025 is 38% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,495 | - | €7,242 | €1,265 |
| Depreciation and write-downs of the year | - | €75 | €498 | €829 | €1,892 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €30,291 | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €10,629 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €75 | €498 | €829 | €1,892 | ▲ 128% |
| Other operating charges640/8 | - | - | €101 | €450 | €493 | €505 | €636 | ▲ 25.8% |
| Gross operating margin9900 | €9,229 | -€11,361 | -€112,756 | €19,852 | €57,718 | €68,458 | €95,037 | ▲ 38.8% |
| Operating profit (loss)9901 | €9,229 | -€11,461 | -€112,857 | €19,327 | €56,727 | €67,124 | €92,509 | ▲ 37.8% |
| Financial income75/76B | - | - | €0 | €20 | €0 | €0 | €0 | ▼ 97.1% |
| Recurring financial income75 | - | - | €0 | €20 | €0 | €0 | €0 | ▼ 97.1% |
| Financial charges65/66B | - | - | €3,245 | €2,920 | €2,763 | €2,397 | €4,840 | ▲ 102% |
| Recurring financial charges65 | €30 | €357 | €3,245 | €2,920 | €2,763 | €2,397 | €4,840 | ▲ 102% |
| Profit (loss) for the period before taxes9903 | €9,199 | -€11,818 | -€116,102 | €16,428 | €53,964 | €64,727 | €87,668 | ▲ 35.4% |
| Income taxes67/77 | €3,159 | €12 | €329 | €293 | €263 | €2,835 | €19,361 | ▲ 583% |
| Profit (loss) for the period9904 | €6,040 | -€11,830 | -€116,430 | €16,135 | €53,701 | €61,893 | €68,307 | ▲ 10.4% |
| Profit (loss) for the period to be appropriated9905 | €6,040 | -€11,830 | -€116,430 | €16,135 | €53,701 | €61,893 | €68,307 | ▲ 10.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €17,952 | €40,408 | €41,603 | €36,908 | €49,068 | €87,997 | €123,765 | ▲ 40.6% |
| Fixed assets21/28 | - | - | - | €1,420 | €922 | €7,336 | €6,708 | ▼ 8.6% |
| Tangible fixed assets22/27 | - | - | - | €1,420 | €922 | €7,336 | €6,708 | ▼ 8.6% |
| Plant, machinery and equipment23 | - | - | - | €1,420 | €922 | €424 | €1,231 | ▲ 191% |
| Furniture and vehicles24 | - | - | - | - | - | €6,912 | €5,477 | ▼ 20.8% |
| Current assets29/58 | €17,952 | €40,408 | €41,603 | €35,487 | €48,146 | €80,661 | €117,057 | ▲ 45.1% |
| Stocks and contracts in progress3 | - | - | - | - | - | €315 | €315 | = |
| Stocks30/36 | - | - | - | - | - | €315 | €315 | = |
| Amounts receivable within one year40/41 | €4,363 | €33,271 | €29,018 | €15,613 | €20,355 | €23,655 | €21,948 | ▼ 7.2% |
| Trade receivables40 | - | - | €28,924 | €15,518 | €20,355 | €21,690 | €19,982 | ▼ 7.9% |
| Other amounts receivable41 | - | - | €95 | €95 | €0 | €1,965 | €1,965 | = |
| Cash at bank and in hand54/58 | €13,589 | €7,137 | €11,575 | €17,846 | €26,659 | €55,484 | €93,573 | ▲ 68.6% |
| Deferred charges and accrued income490/1 | - | - | €1,009 | €2,029 | €1,131 | €1,208 | €1,221 | ▲ 1.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €17,952 | €40,408 | €41,603 | €36,908 | €49,068 | €87,997 | €123,765 | ▲ 40.6% |
| Equity10/15 | €12,240 | €410 | -€116,020 | -€99,886 | -€33,784 | €26,390 | €18,600 | ▼ 29.5% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | €6,200 | - | - | - | - | - |
| Other1109/19 | - | - | €6,200 | - | - | - | - | - |
| Reserves13 | €6,040 | €6,040 | €6,040 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | €6,040 | €0 | - | - | - | - |
| Profit (loss) carried forward14 | - | -€11,830 | -€128,260 | -€106,086 | -€52,384 | €7,790 | €0 | ▼ 100% |
| Amounts payable17/49 | €5,712 | €39,998 | €157,623 | €136,793 | €82,852 | €61,607 | €105,165 | ▲ 70.7% |
| Amounts payable after more than one year17 | - | - | €93,450 | €62,392 | €31,509 | €0 | - | - |
| Financial debts170/4 | - | - | €93,450 | €62,392 | €31,509 | €0 | - | - |
| Amounts payable within one year42/48 | €5,712 | €39,998 | €64,173 | €74,402 | €51,343 | €61,607 | €104,717 | ▲ 70.0% |
| Current portion of amounts payable after more than one year42 | - | - | €28,876 | €30,268 | €30,882 | €31,509 | €0 | ▼ 100% |
| Trade debts44 | €2,553 | €5,828 | €3,594 | €5,358 | €1,959 | €5,250 | €2,219 | ▼ 57.7% |
| Suppliers440/4 | - | - | €3,594 | €5,358 | €1,959 | €5,250 | €2,219 | ▼ 57.7% |
| Taxes, remuneration and social security45 | - | - | €13,085 | €21,975 | €12,399 | €16,601 | €20,764 | ▲ 25.1% |
| Taxes450/3 | - | - | €9,816 | €21,975 | €12,399 | €16,601 | €20,764 | ▲ 25.1% |
| Remuneration and social security454/9 | - | - | €3,269 | €0 | - | - | - | - |
| Other amounts payable47/48 | - | - | €18,619 | €16,800 | €6,103 | €8,247 | €81,734 | ▲ 891% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €448 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,040 | -€11,830 | -€116,430 | €16,135 | €53,701 | €61,893 | €68,307 | ▲ 10.4% |
| + Depreciation and write-downs630 | - | - | - | €75 | €498 | €829 | €1,892 | ▲ 128% |
| Operating cash flow (approximation) | €6,040 | -€11,830 | -€116,430 | €16,209 | €54,200 | €62,721 | €70,200 | ▲ 11.9% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | -€7,242 | -€1,265 | ▲ 82.5% |
| Change in cash | - | -€6,452 | €4,438 | €6,270 | €8,813 | €28,825 | €38,089 | ▲ 32.1% |
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, 6,713 companies had the same profile as COLED Projects has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of COLED Projects itself is lower: 0.1% within 12 months. It rests on far more data about COLED 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 6,713 companies, not a prediction for COLED 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-03-2026 | 2026-00053481 | |
| 31-12-2024 | micro format | 09-05-2025 | 2025-00092375 | |
| 31-12-2023 | micro format | 26-06-2024 | 2024-00162514 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00137507 | |
| 31-12-2021 | micro format | 31-07-2022 | 2022-20274083 | |
| 31-12-2020 | micro format | 31-07-2021 | 2021-46300160 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-36800534 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Els VAN dEN BULCK |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1, algemene vergadering bepaalt aantal, duur opdracht en bij meerdere bestuurders bevoegdheid”
Articles of association, deed of 11-08-2023 (in Dutch)
Network & group
COLED Projects shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of COLED Projects. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
11-08
Gazette deed
Change of role: Els VAN dEN BULCK, from manager to directorPermanent representative: Els VAN dEN BULCK · Amendment of the articles · Capital conversion10 points ▸
- General meeting, 02-08-2023, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “van rechtswege, werkelijk gestort kapitaal en wettelijke reserve” (deed in Dutch)
- Reserve release, “vormen en meerderheden van de statutenwijziging, volledige opheffing” (deed in Dutch)
- Registered office clause, “2400 Mol, Castelsebaan 77, vergadering” (deed in Dutch)
- Director resignation, Els VAN dEN BULCK (manager)
- Board rule, 1
- Director appointment, Els VAN dEN BULCK (director)
- Other provision, “verklaring geen verhindering, niet getroffen door enige wettelijke of reglementaire bepaling die zich daartegen verzet” (deed in Dutch)
- Permanent representative, Els VAN dEN BULCK
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
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13435D0763/00D004 | Flanders | 1,243 m² | 1 · 249 m² | 14.1 m |