Ed. Proj. Phi
ActiveSummary
Ed. Proj. Phi has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €286,806. Equity is growing by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 44% of 279 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+8
Solvency53▲+5
Growth45▲+3
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity short (current ratio 0.46 against 0.44 in 2024; short-term debt: 62.1% and cash: 14.4% of total assets), and 71.9% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
28.1%
Return on assets
7.3%
Age of the figures
9 mo
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
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 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
71 d early
2024
76 d early
2023
69 d early
2022
70 d early
2021
19 d early
2020
54 d early
2019
53 d early
← 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 59 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% 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 22 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#5 oldest company in Heusden-Zolder, Energy sector
Turnover
€1.6m▲ 18.9%
2024 · €1.3m
EBIT margin
29.1%▲ 13.5pp
2024 · 15.6%
Net result
€286,806▲ 458%
2024 · €51,383
Working capital
-€1.3m▲ 19.2%
2024 · -€1.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, 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
Turnover€1.6m▼ 2.7%€1.7m▲ 11.5%€1.8m▲ 3.4%€1.3m▼ 25.7%€1.6m▲ 18.9%
Operating result€412,252▼ 31.0%€637,981▲ 54.8%€665,849▲ 4.4%€208,662▼ 68.7%€463,743▲ 122%
Net result€169,683within the sector's middle half▼ 25.7%€355,368within the sector's middle half▲ 109%€382,370above the sector's middle half▲ 7.6%€51,383within the sector's middle half▼ 86.6%€286,806above the sector's middle half▲ 458%
EBIT margin26.3%▼ 10.8pp36.6%▲ 10.2pp36.9%▲ 0.4pp15.6%▼ 21.3pp29.1%▲ 13.5pp
Equity€932,909within the sector's middle half▲ 22.2%€988,277within the sector's middle half▲ 5.9%€1.0mwithin the sector's middle half▲ 3.3%€1.1mwithin the sector's middle half▲ 5.0%€1.1mwithin the sector's middle half▲ 3.4%
Total assets€6.9mwithin the sector's middle half▼ 11.5%€6.3mwithin the sector's middle half▼ 8.6%€5.7mwithin the sector's middle half▼ 10.3%€4.7mwithin the sector's middle half▼ 17.7%€4.0mwithin the sector's middle half▼ 15.3%
Debt€5.9m▼ 15.3%€5.3m▼ 11.0%€4.6m▼ 13.0%€3.5m▼ 23.0%€2.8m▼ 21.3%
Working capital-€3.0mbelow the sector's middle half▲ 17.0%-€2.6mbelow the sector's middle half▲ 16.0%-€2.1mbelow the sector's middle half▲ 18.0%-€1.6mbelow the sector's middle half▲ 22.1%-€1.3mbelow the sector's middle half▲ 19.2%
Solvency13.5%within the sector's middle half▲ 3.7pp15.6%within the sector's middle half▲ 2.1pp18.0%within the sector's middle half▲ 2.4pp23.0%within the sector's middle half▲ 5.0pp28.1%within the sector's middle half▲ 5.1pp
Current ratio0.33below the sector's middle half▲ 0.010.38below the sector's middle half▲ 0.050.43below the sector's middle half▲ 0.050.44below the sector's middle half▲ 0.010.46below the sector's middle half▲ 0.02
Return on assets (ROA)2.5%within the sector's middle half▼ 0.5pp5.6%within the sector's middle half▲ 3.2pp6.7%within the sector's middle half▲ 1.1pp1.1%within the sector's middle half▼ 5.6pp7.3%within the sector's middle half▲ 6.2pp
above
within
below
the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 122% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€2.8m ▼ 16.7%
Current assets
€1.1m ▼ 11.6%
Equity and liabilities €4.0m
Equity
€1.1m ▲ 3.4%
Provisions
€61,195 =
Debt
€2.8m ▼ 21.3%
Debt's share of the balance-sheet total falls from 75.7% to 70.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.2m▲
2024 · €893,324
Cash flow
€1.0m▲
2024 · €736,045
Debt to equity
2.51▼
2024 · 3.29
ROE
25.9%▲
2024 · 4.8%
Interest coverage
11.44▲
2024 · 5.43
Debt ≤ 1 year
€2.5m▼
2024 · €2.9m
Debt > 1 year
€327,692▼
2024 · €616,007
Income taxes
€94,692▲
2024 · €31,652
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,609 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
2.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 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% | 1.8% |
| 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% 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 2,609 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €1.6m | €1.7m | €1.8m | €1.3m | €1.6m | ▲ 18.9% |
| Non-recurring operating income76A | - | - | - | - | €162 | - |
| Goods, raw materials, services and sundry goods60/61 | €457,613 | €417,935 | €449,116 | €443,027 | €405,340 | ▼ 8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €685,178 | €685,033 | €684,663 | €684,662 | €724,258 | ▲ 5.8% |
| Other operating charges640/8 | €9,592 | €4,368 | €4,460 | €4,468 | €1,060 | ▼ 76.3% |
| Gross operating margin9900 | €1.1m | €1.3m | €1.4m | €897,792 | €1.2m | ▲ 32.4% |
| Operating profit (loss)9901 | €412,252 | €637,981 | €665,849 | €208,662 | €463,743 | ▲ 122% |
| Financial income75/76B | €28,251 | €21,591 | €34,729 | €38,768 | €21,600 | ▼ 44.3% |
| Recurring financial income75 | €28,251 | €21,591 | €34,729 | €38,768 | €21,600 | ▼ 44.3% |
| Financial charges65/66B | €211,557 | €180,142 | €178,931 | €164,395 | €103,846 | ▼ 36.8% |
| Recurring financial charges65 | €211,557 | €180,142 | €178,931 | €164,395 | €103,846 | ▼ 36.8% |
| Profit (loss) for the period before taxes9903 | €228,945 | €479,430 | €521,647 | €83,035 | €381,498 | ▲ 359% |
| Income taxes67/77 | €59,263 | €124,062 | €139,277 | €31,652 | €94,692 | ▲ 199% |
| Profit (loss) for the period9904 | €169,683 | €355,368 | €382,370 | €51,383 | €286,806 | ▲ 458% |
| Profit (loss) for the period to be appropriated9905 | €169,683 | €355,368 | €382,370 | €51,383 | €286,806 | ▲ 458% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.9m | €6.3m | €5.7m | €4.7m | €4.0m | ▼ 15.3% |
| Fixed assets21/28 | €5.4m | €4.8m | €4.1m | €3.4m | €2.8m | ▼ 16.7% |
| Tangible fixed assets22/27 | €5.4m | €4.7m | €4.1m | €3.4m | €2.8m | ▼ 16.8% |
| Land and buildings22 | €3.8m | €3.3m | €2.8m | €2.3m | €2.0m | ▼ 15.0% |
| Plant, machinery and equipment23 | €5,412 | €4,028 | €3,014 | €2,000 | €986 | ▼ 50.7% |
| Leasing and similar rights25 | €1.7m | €1.5m | €1.2m | €1.0m | €811,854 | ▼ 20.9% |
| Financial fixed assets28 | €9,734 | €9,734 | €9,734 | €9,734 | €9,734 | = |
| Current assets29/58 | €1.5m | €1.6m | €1.6m | €1.3m | €1.1m | ▼ 11.6% |
| Amounts receivable within one year40/41 | €887,206 | €923,488 | €798,899 | €540,126 | €524,825 | ▼ 2.8% |
| Trade receivables40 | €116,013 | €161,270 | €332,986 | €200,348 | €132,995 | ▼ 33.6% |
| Other amounts receivable41 | €771,193 | €762,219 | €465,913 | €339,778 | €391,830 | ▲ 15.3% |
| Cash at bank and in hand54/58 | €582,459 | €612,413 | €762,807 | €718,671 | €567,583 | ▼ 21.0% |
| Deferred charges and accrued income490/1 | €8,088 | €31,579 | €39,424 | €22,620 | €40,017 | ▲ 76.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.9m | €6.3m | €5.7m | €4.7m | €4.0m | ▼ 15.3% |
| Equity10/15 | €932,909 | €988,277 | €1.0m | €1.1m | €1.1m | ▲ 3.4% |
| Contributions10/11 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Capital10 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Issued capital100 | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Revaluation surpluses12 | €151,350 | €134,533 | €117,717 | €100,900 | €84,083 | ▼ 16.7% |
| Reserves13 | €102,267 | €119,083 | €135,900 | €152,716 | €169,533 | ▲ 11.0% |
| Non-distributable reserves130/1 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Legal reserve130 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Distributable reserves133 | €67,267 | €84,083 | €100,900 | €117,716 | €134,533 | ▲ 14.3% |
| Profit (loss) carried forward14 | €329,293 | €384,661 | €417,030 | €468,413 | €505,219 | ▲ 7.9% |
| Provisions and deferred taxes16 | €61,195 | €61,195 | €61,195 | €61,195 | €61,195 | = |
| Provisions for liabilities and charges160/5 | €61,195 | €61,195 | €61,195 | €61,195 | €61,195 | = |
| Major repairs and maintenance162 | €61,195 | €61,195 | €61,195 | €61,195 | €61,195 | = |
| Amounts payable17/49 | €5.9m | €5.3m | €4.6m | €3.5m | €2.8m | ▼ 21.3% |
| Amounts payable after more than one year17 | €1.4m | €1.1m | €888,321 | €616,007 | €327,692 | ▼ 46.8% |
| Financial debts170/4 | €1.4m | €1.1m | €888,321 | €616,007 | €327,692 | ▼ 46.8% |
| Amounts payable within one year42/48 | €4.5m | €4.1m | €3.7m | €2.9m | €2.5m | ▼ 15.9% |
| Current portion of amounts payable after more than one year42 | €229,451 | €242,931 | €257,204 | €272,315 | €288,314 | ▲ 5.9% |
| Financial debts43 | €4.2m | €3.5m | €2.9m | €2.3m | €1.7m | ▼ 27.5% |
| Credit institutions430/8 | €4.2m | €3.5m | €2.9m | €2.3m | €1.7m | ▼ 27.5% |
| Trade debts44 | €111,071 | €32,474 | €67,135 | €296,761 | €240,330 | ▼ 19.0% |
| Suppliers440/4 | €111,071 | €32,474 | €67,135 | €296,761 | €240,330 | ▼ 19.0% |
| Taxes, remuneration and social security45 | €18,947 | - | €65,596 | €69,100 | €22,371 | ▼ 67.6% |
| Taxes450/3 | €18,947 | - | €65,596 | €69,100 | €22,371 | ▼ 67.6% |
| Other amounts payable47/48 | - | €300,000 | €409,792 | - | €250,000 | - |
| Accrued charges and deferred income492/3 | €11,841 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €169,683 | €355,368 | €382,370 | €51,383 | €286,806 | ▲ 458% |
| + Depreciation and write-downs630 | €685,178 | €685,033 | €684,663 | €684,662 | €724,258 | ▲ 5.8% |
| Operating cash flow (approximation) | €854,861 | €1.0m | €1.1m | €736,045 | €1.0m | ▲ 37.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €1 | -€158,381 | ▼ 16,327,995% |
| Change in cash | - | €29,954 | €150,394 | -€44,136 | -€151,088 | ▼ 242% |
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
11-06
State Gazette act
Permanent representatives: Frederik Jansen and William RuttenResignation: EY Bedrijfsrevisoren BV (statutory auditor) · Appointment: PwC Bedrijfsrevisoren BV (statutory auditor) · Director discharge7 facts ▸
State Gazette act
Permanent representatives: Frederik Jansen and William Rutten
Resignation: EY Bedrijfsrevisoren BV (statutory auditor) · Appointment: PwC Bedrijfsrevisoren BV (statutory auditor) · Director discharge7 facts ▸
- General meeting, 27-04-2026
- Permanent representative, Frederik Jansen (permanent representative)
- Auditor resignation, EY Bedrijfsrevisoren BV (statutory auditor)
- Director discharge, EY Bedrijfsrevisoren BV (statutory auditor)
- Auditor appointment, PwC Bedrijfsrevisoren BV (statutory auditor)
- Permanent representative, William Rutten (permanent representative)
- Other statement, eenparigheid van stemmen, aanname van de besluiten
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €51,383 ▼86.6%
Net result drops to €51,383, the lowest in the series; recovery starts the following year.
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €1mEq €1.0m ▲3.3%
6 profitable years in a row build equity to €1.0m.
22-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 5 days late
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
BV PwC Bedrijfsrevisoren
CurrentStatutory auditor · since 11-06-2026 · perm. rep.: William Rutten
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 →
Location & real-estate footprint
Registered office, Heusden-Zolder · 1 establishment unit since 2009
Ground area
3,741 m²
Building footprint
1,634 m²
Parcel 71065B1051/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
Ed. Proj. Phi
since 20092.179.725.503
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71065B1051/00M000 | Flanders | 3,741 m² | 1 · 1,634 m² | - |
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.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| BV PwC Bedrijfsrevisoren |
|
Articles of association
Other statement
One provision in the deed
Structure & network
Part of the group
PATRONALE LIFE
62 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
Highest known parent: PATRONALE LIFE. The sources do not say who stands above it.
Owners 2
-
100%
- PATRONALE LIFEparentSourceLEI registerconsolidated
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of Ed. Proj. Phi 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.
Recognitions · licences · registrations
Legal Entity Identifier
549300J06PD8E37W5L53
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Identification & contact
Identification
Legal formPublic limited company
Founded07-07-2009
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
E-invoicing
Reachable via Peppol
Peppol ID
0208:0816861348
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.