CORRECT PROJECT
ActiveSummary
The computed 12-month bankruptcy probability of CORRECT PROJECT is 6.8% (elevated). The 2024 annual accounts show equity of €56,235 and a net result of -€10,131. Equity is growing by about 11% per year across the filed financial years. Its solvency ranks better than 50% of 9,837 sector peers (NACE 41, financial year 2024). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €56,235
- Loss
- -€10,131
- La-oong RaharnDirector
Why 34raises risk1 financial year not filed after the legal deadline; last filed accounts filed 342 days late; 3 of the last 3 lateFigures for financial year 2024 (filed 09-07-2026)Size: total assets €133,397lowers riskFounded in 2011Show the evidence
Checked score
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 41, micro): better than 50% on solvency, 25% on liquidity, 15% on profitability and 22% on growth.
The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 145 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (1)
- Resignation: Emil Dimitrov (director)Appointment: La-oong Raharn (director) ·…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 27 October 2026.
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result turns negative in 2024: a loss of €7,527 after €20,593 in 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 6,908 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 90.9% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 6.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 6,908 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €1,010 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €936 | €750 | €335 | €440 | €701 | €7,626 | €9,184 | ▲ 20.4% |
| Other operating charges640/8 | - | - | - | €3,804 | €16,550 | €2,227 | €2,099 | ▼ 5.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €22,010 | - | - |
| Gross operating margin9900 | €15,381 | €20,503 | €47,682 | -€23,580 | €53,120 | €52,456 | €3,756 | ▼ 92.8% |
| Operating profit (loss)9901 | €10,201 | €18,263 | €38,475 | -€27,825 | €34,859 | €20,593 | -€7,527 | - |
| Financial income75/76B | - | - | - | - | €13 | €107 | - | - |
| Recurring financial income75 | €586 | €0 | €31 | - | €13 | €107 | - | - |
| Financial charges65/66B | - | - | - | €920 | €1,756 | €1,509 | €2,277 | ▲ 50.9% |
| Recurring financial charges65 | €2,465 | €1,970 | €1,542 | €920 | €1,756 | €1,509 | €2,277 | ▲ 50.9% |
| Profit (loss) for the period before taxes9903 | €8,321 | €16,293 | €36,964 | -€28,745 | €33,115 | €19,191 | -€9,804 | - |
| Income taxes67/77 | €266 | €3,021 | €12,218 | €737 | €10,271 | €9,023 | €327 | ▼ 96.4% |
| Profit (loss) for the period9904 | €8,055 | €13,273 | €24,746 | -€29,483 | €22,844 | €10,168 | -€10,131 | - |
| Profit (loss) for the period to be appropriated9905 | €8,055 | €13,273 | €24,746 | -€29,483 | €22,844 | €10,168 | -€10,131 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €62,443 | €47,808 | €94,267 | €74,812 | €118,426 | €106,519 | €133,397 | ▲ 25.2% |
| Formation expenses20 | - | - | - | - | €0 | €0 | - | - |
| Fixed assets21/28 | €1,263 | €513 | €1,305 | €2,003 | €4,139 | €11,794 | €7,816 | ▼ 33.7% |
| Tangible fixed assets22/27 | €1,263 | €513 | €1,280 | €1,978 | €4,114 | €11,769 | €7,791 | ▼ 33.8% |
| Plant, machinery and equipment23 | - | - | - | €1,978 | €4,114 | €4,984 | €4,554 | ▼ 8.6% |
| Furniture and vehicles24 | - | - | - | - | €0 | €6,785 | €3,237 | ▼ 52.3% |
| Financial fixed assets28 | - | - | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €61,180 | €47,296 | €92,962 | €72,809 | €114,287 | €94,725 | €125,581 | ▲ 32.6% |
| Stocks and contracts in progress3 | €1,500 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €48,030 | €38,328 | €53,823 | €58,664 | €109,349 | €85,477 | €117,926 | ▲ 38.0% |
| Trade receivables40 | - | - | - | €21,055 | €0 | €18,624 | - | - |
| Other amounts receivable41 | - | - | - | €37,609 | €109,349 | €66,853 | €117,926 | ▲ 76.4% |
| Cash at bank and in hand54/58 | €11,650 | €8,968 | €37,116 | €13,779 | €3,536 | €9,248 | €7,655 | ▼ 17.2% |
| Deferred charges and accrued income490/1 | - | - | - | €366 | €1,403 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €62,443 | €47,808 | €94,267 | €74,812 | €118,426 | €106,519 | €133,397 | ▲ 25.2% |
| Equity10/15 | €24,511 | €38,091 | €62,836 | €33,354 | €56,198 | €66,366 | €56,235 | ▼ 15.3% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | - | - | €18,600 | - | - |
| Issued capital100 | - | - | - | - | - | €18,600 | - | - |
| Reserves13 | €2,976 | €2,976 | €2,976 | €2,976 | €2,976 | €47,766 | €37,635 | ▼ 21.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | - | - | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Other1319 | - | - | - | - | - | - | €1,860 | - |
| Distributable reserves133 | - | - | - | €1,116 | €1,116 | €45,906 | €35,775 | ▼ 22.1% |
| Profit (loss) carried forward14 | €2,935 | €16,515 | €41,261 | €11,778 | €34,622 | €0 | - | - |
| Amounts payable17/49 | €37,933 | €9,717 | €31,430 | €41,458 | €62,228 | €40,153 | €77,163 | ▲ 92.2% |
| Amounts payable after more than one year17 | €1,105 | - | - | - | - | €6,589 | €6,589 | = |
| Financial debts170/4 | - | - | - | - | - | €6,589 | €6,589 | = |
| Amounts payable within one year42/48 | €36,828 | €9,717 | €31,430 | €41,458 | €62,228 | €30,571 | €70,574 | ▲ 131% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €2,966 | - | - |
| Financial debts43 | - | - | - | - | €3,779 | - | - | - |
| Credit institutions430/8 | - | - | - | - | €3,779 | - | - | - |
| Trade debts44 | €26,665 | €4,929 | €7,540 | - | €13,714 | €5,768 | €66,864 | ▲ 12× |
| Suppliers440/4 | - | - | - | - | €13,714 | €5,768 | €66,864 | ▲ 12× |
| Taxes, remuneration and social security45 | - | - | - | €40,058 | €37,835 | €21,837 | €3,710 | ▼ 83.0% |
| Taxes450/3 | - | - | - | €40,058 | €37,835 | €21,837 | €3,710 | ▼ 83.0% |
| Other amounts payable47/48 | - | - | - | €1,400 | €6,900 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €2,993 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,055 | €13,273 | €24,746 | -€29,483 | €22,844 | €10,168 | -€10,131 | - |
| + Depreciation and write-downs630 | €936 | €750 | €335 | €440 | €701 | €7,626 | €9,184 | ▲ 20.4% |
| Operating cash flow (approximation) | €8,991 | €14,023 | €25,081 | -€29,042 | €23,546 | €17,794 | -€947 | - |
| Investment in fixed assets (approximation) | - | €0 | -€1,127 | -€1,139 | -€2,838 | -€15,281 | -€5,206 | ▲ 65.9% |
| Change in cash | - | -€2,683 | €28,149 | -€23,337 | -€10,244 | €5,712 | -€1,593 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | micro format | 08-07-2026 | 2026-00272120 |
| 31-12-2023 | micro format | 25-06-2025 | 2025-00182021 |
| 31-12-2022 | micro format | 19-03-2024 | 2024-00049314 |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20316368 |
| 31-12-2020 | micro format | 16-07-2021 | 2021-36800227 |
| 31-12-2019 | micro format | 16-06-2020 | 2020-17400033 |
| 31-12-2018 | micro format | 17-02-2020 | 2020-05100558 |
| 31-12-2017 | micro format | 25-10-2018 | 2018-70800537 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-59300113 |
| 31-12-2015 | abbreviated format | 28-10-2016 | 2016-67000230 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| La-oong Raharn |
|
| DIMITROV Emil |
|
Owners and capital
Capital and shareholders
- 25-01-2024 Capital stated in the deed · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
27-10
Gazette deed
Resignation: Emil Dimitrov (director)Appointment: La-oong Raharn (director) · Director discharge · Shareholding5 facts ▸
- General meeting, 30-09-2026
- Director resignation, Emil Dimitrov (director)
- Director discharge, Emil Dimitrov (director)
- Director appointment, La-oong Raharn (director)
- Shareholding, 30-09-2026, 100
25-01
Gazette deed
Resignation: DIMITROV Emil (manager)Appointment: DIMITROV Emil (director) · Amendment of the articles · Purpose change11 facts ▸
- General meeting, “volgende besluiten, met éénparigheid van stemmen” (deed in Dutch)
- Amendment of the articles (2 times)
- Other provision, “verslag bestuursorgaan over voorgestelde voorwerpwijziging, voorzitter van voorlezen verslag ontslagen” (deed in Dutch)
- Purpose change
- Capital conversion, “van rechtswege omgezet, Derde besluit” (deed in Dutch)
- Reserve release, “statutair onbeschikbare eigen vermogensrekening opheffen en beschikbaar maken voor uitkering, overeenkomstig vormen en meerderheden van statutenwijziging” (deed in Dutch)
- Capital
- Director resignation, DIMITROV Emil (manager)
- Director appointment, DIMITROV Emil (director (not named in the articles))
- Director discharge, DIMITROV Emil
- Registered-office move, 2200 Herentals,Diamantstraat 8 bus 337
Show earlier events
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0839.201.735
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13027A0065/00F002 | Flanders | 1.2 ha | 1 · 3,044 m² | 24.1 m · 6 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Algemene bouw en renovatiewerken; Het slopen van gebouwen en andere bouwwerken; Het ruimen van bouwterreinen; Het grondverzet…” (deed in Dutch)
73 activities (deed in Dutch)
- Algemene bouw en renovatiewerken
- Het slopen van gebouwen en andere bouwwerken
- Het ruimen van bouwterreinen
- Het grondverzet : graven,ophogen,egaliseren en nivelleren van bouwterreinen,graven van sleuven en geulen,verwijderen van rotsen,grondverzet met behulp van explosieven
- De verlaging van het grondwaterpeil en de drainage van bouwterreinen
- De drainage van land en bosbouwgrond
- Het uitvoeren van horizontale boringen voor het leggen van kabels en kanalisaties
- Het optrekken van de ruwbouw van individuele huizen
- Optrekken van andere residentiële gebouwen en van kantoorgebouwen
- Het optrekken van de ruwbouw van gebouwen met celstructuur : appartementsgebouwen,kantoorgebouwen,enzovoort
- Optrekken van gebouwen voor industrieel of commercieel gebruik,voor landbouwdoeleinden,enzovoort
- Het optrekken van de ruwbouw van gebouwen voor industrieel of commercieel gebruik,van stel en stapelplaatsen,scholen,ziekenhuizen,van gebouwen voor de beoefening van erediensten,cultuur,sport,enzovoort
- De montage van hangars,loodsen,schuren,silo’s en dergelijke voor landbouwdoeleinden
- Dakbedekking en bouw van dakconstructies
- Het plaatsen van dakgoten en regenafvoerbuizen
- Het waterdicht maken van daken en dakterrassen
- Bouw van autowegen en andere wegen,vliegvelden en sportfaciliteiten
- De bouw van speel en sportterreinen,zwembaden,enzovoort
- Het schilderen van markeringen op wegen en parkeerplaatsen
- Onderneming voor het boren en aanleggen van waterputten,graven van mijnschachten
- Onderneming voor het vlechten van ijzer en aanbrengen van bekisting
- Onderneming voor het uitvoeren van metselwerk
- Onderneming voor het aanbrengen van chape
- Onderneming voor het bouwen van schoorstenen en industriële ovens
- Onderneming voor het bouwen van open haarden,stookplaatsen,sierschouwen,enzovoort
- Onderneming voor het monteren van nietzelfvervaardigde metalen constructiewerken
- Onderneming voor het uitvoeren van hijs en hefwerkzaamheden voor rekening van derden
- Onderneming voor het optrekken en afbreken van steigers en werkplatforms
- Onderneming voor het uitvoeren van voegwerken
- Onderneming voor het bouwen van koelkamers,kluizen,enzovoort
- Onderneming voor de installatie van elektrische bedrading en toebehoren
- Onderneming voor de installatie van hulpvoedingssystemen(generatoraggregaten)
- Onderneming voor de installatie van de bedrading voor telefooninstallaties en computersystemen
- Onderneming voor de installatie van elektrische verwarmingsinstallaties
- Onderneming voor de installatie van bewakingssystemen en alarminstallaties tegen diefstal
- Onderneming voor de installatie van antennes en bliksemafleiders
- Het aanbrengen in gebouwen en andere bouwwerken van thermische isolatiemateriaal en isolatiemateriaal tegen geluid en trillingen
- Isolatiewerkzaamheden aan verwarmingsleidingen en leidingen van koelsystemen
- De isolatie van koelkamers en –pakhuizen
- Loodgieterswerk
- De installatie in gebouwen en andere bouwwerken van : waterleidingen,artikelen en apparaten voor sanitair gebruik,sprinklerinstallaties,gasaansluitingen,leidingen voor diverse gassen
- De installatie van stores en zonneschermen
- De installatie van lichtreclames en uithangborden
- Overige installaties(inclusief accessoires)
- Afwerking van gebouwen
- Het aanbrengen van pleister en stukadoorswerk(inclusief het aanbrengen van een hechtgrond)aan de binnen- of buitenzijde van gebouwen en andere bouwwerken
- Het plaatsen van tussenwanden van gipsplaten
- De installatie van al dan niet verplaatsbare tussenwanden,de bekleding van wanden,plafonds,enzovoort
- Plaatsen van vloer en wandtegels
- Het aanbrengen in gebouwen en andere bouwwerken van : vloer of wandtegels van keramische stoffen,beton of gehouwen steen,vloerbedekking en wandbekleding van terrazzo marmer,graniet of lei
- Plaatsen van vloerbedekking van hout of andere materialen
- Het aanbrengen in gebouwen en andere bouwwerken van parket en andere houten vloerbedekking,tapijt en vloerbedekking van linoleum,rubber of kunststof
- Plaatsen van behang
- Het behandelen van muren met vochtwerende en waterafstotende producten
- Gevelreiniging door middel van zandstralen,met behulp van stoom,enzovoort
- Het reinigen van nieuwe gebouwen na beëindiging van de bouwwerkzaamheden
- Overige werkzaamheden in verband met de afwerking van gebouwen
- Leiden van belangrijke herstellingswerkzaamheden aan gebouwen
- Restaureren van bouwwerken
- De verkoop van dranken voor,in het algemeen,consumptie ter plaatse,eventueel in combinatie met enigerlei vorm van amusement door : cafés,bars,nachtclubs,bierhallen,enzovoort
- Discotheken,dancings en dergelijke
- De regelmatige exploitatie van discotheken,dancings en privéclubs,die hun omzet verwezenlijken door de verkoop van dranken,ook indien entreekaarten worden verkocht die recht geven op consumpties
- Wassen en poetsen van motorvoertuigen
- Eet en drinkgelegenheden
- Algemene reiniging van gebouwen
- Het vervoer van alle mogelijk goederen en zaken over de weg door middel van motorvoertuigen,zowel voor eigen rekening als voor rekening van derden
- Schrijnwerkerij zowel binnen als buiten
- Inkoop en verkoop van bouwmaterialen en aanverwanten
- Import en Export van alle mogelijke goederen,machines en materialen,met inbegrip van,maar niet beperkt tot,goederen,machines en materialen die worden gebruikt in de bouwsector
- Import en export van nieuwe en tweedehands voertuigen
- Verhuur van vakantiewoningen
- Aan en verkoop,renovatie van onroerende goederen
- Import en export,aan en verkoop van voedingswaren
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- CORRECT PROJECT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, 2.Zetel” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, 6” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 1 June at 11:00