Exus Project

Active

Private limited companyfounded 198738 yrs activeNinoofsesteenweg(P) 122, 1670 Pepingen, BelgiumKBO/BCE: BE 0432.784.801

Exus Project has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €424k and a net result of €-24k. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 44% of 13905 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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Checked score

Score 2025

15 / 100

Critical▼ -8 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0=

Solvency20▼-3

Growth52=

Stability100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.23 against 0.27 in 2024), and 77.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

22.4%

Return on assets

-1.3%

Age of the figures

17 mo

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

19202122232425

2019 to 2025 · latest year -€24k

Latest accounts filed on time

The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 13-07-2025, 110 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

110 d early

2024

98 d early

2023

98 d early

2022

94 d early

2021

122 d early

2020

127 d early

2019

129 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.

Companies Code · seven months

Position in the running window

31-03-2026 close14-09-2026 today31-10-2026 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€424k▼ 5.3%

2024 · €448k

2019: €49k 2020: €512k 2021: €472k 2022: €476k 2023: €458k 2024: €448k

2019 → 2025

Total assets

€1.89M▼ 0.1%

2024 · €1.89M

2019: €50k 2020: €512k 2021: €893k 2022: €1.17M 2023: €1.55M 2024: €1.89M

2019 → 2025

Net result

€-24k▼ 137%

2024 · €-10k

2019: €16k 2020: €14k 2021: €-41k 2022: €4k 2023: €-18k 2024: €-10k

2019 → 2025

Working capital

€-55k▼ 23.6%

2024 · €-44k

2019: €28k 2021: €6k 2022: €-441 2023: €-67k 2024: €-44k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€472k-€476k▲ 0.9%€458k▼ 3.8%€448k▼ 2.2%€424k▼ 5.3%

Operating result€-35k-€15k€-701€8k€-5k

Net result€-41k-€4k€-18k€-10k▲ 44.0%€-24k▼ 137%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2025: a loss of €5k after €8k in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.89M

99.2%

Fixed assets €1.88M▼ 0.1%

Current assets €16k▼ 1.2%

Equity and liabilities €1.89M

22.4%

77.6%

Equity €424k▼ 5.3%

Debt €1.47M▲ 1.5%

The debt ratio rises from 76.3% to 77.6%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€41k▼

2024 · €46k

Cash flow

€22k▼

2024 · €28k

Solvency

22.4%▼

2024 · 23.7%

Current ratio

0.23▼

2024 · 0.27

Quick ratio

0.23▼

2024 · 0.27

Debt / equity

3.46▲

2024 · 3.23

ROE

-5.6%▼

2024 · -2.2%

ROA

-1.3%▼

2024 · -0.5%

Interest coverage

2.21▼

2024 · 2.60

Debt

€1.47M▲

2024 · €1.44M

Debt ≤ 1 year

€71k▲

2024 · €60k

Debt > 1 year

€1.40M▲

2024 · €1.38M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€1.89M€1.89M▼

Fixed assets21/28€1.88M€1.88M▼

Tangible fixed assets22/27€1.88M€1.88M▼

Land and buildings22€1.88M€1.88M▼

Current assets29/58€16k€16k▼

Amounts receivable within one year40/41€10k€10k▲

Trade receivables40€10k€10k▲

Cash at bank and in hand54/58€5k€6k▲

Deferred charges and accrued income490/1€1k-

Equity and liabilities

Total equity and liabilities10/49€1.89M€1.89M▼

Equity10/15€448k€424k▼

Contributions10/11€19k€19k=

Outside capital11€19k€19k=

Other1109/19€19k€19k=

Revaluation surpluses12€450k€450k=

Reserves13€2k€2k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Profit (loss) carried forward14€-23k€-46k▼

Amounts payable17/49€1.44M€1.47M▲

Amounts payable after more than one year17€1.38M€1.40M▲

Financial debts170/4€1.38M€1.40M▲

Amounts payable within one year42/48€60k€71k▲

Current portion of amounts payable after more than one year42€56k€57k▲

Trade debts44€4k€13k▲

Suppliers440/4€4k€13k▲

Other amounts payable47/48-€349

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€39k€46k▲

Other operating charges640/8€3k€4k▲

Gross operating margin9900€50k€45k▼

Operating profit (loss)9901€8k€-5k▼

Financial charges65/66B€18k€19k▲

Recurring financial charges65€18k€19k▲

Profit (loss) for the period before taxes9903€-10k€-24k▼

Profit (loss) for the period9904€-10k€-24k▼

Profit (loss) for the period to be appropriated9905€-10k€-24k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-23k€-46k▼

Profit (loss) brought forward from the previous period14P€-12k€-23k▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-10-2026

2026

13-05

State Gazette act Restructuring

General meeting · Merger · Accounting effect13 facts ▸

General meeting, 2026-03-30
Merger, 2026-03-30
Accounting effect, 2026-04-01
Name change, Exus Project
Purpose change, De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, voor eigen rekening of voor rekening van derden: I.PROJECTCOÖRDINATIE IN DE BOUWSECTO…
Statutes amendment
Reserve release, Statutair onbeschikbare eigenvermogensrekening opgeheven en beschikbaar gemaakt voor uitkering
Mandate compensation, VANDEVELDE Mark
Mandate compensation, HAMELRYCKX Veronique Jeanne Josephine
Power of attorney, VANDEVELDE Mark
Merger proposal, 2026-02-11, 2026-02-10
Capital, €750
+1 further facts in this act

2025

13-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2024

25-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2023

25-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2022

29-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

31-03

Financial Back to profitnet €4k

Net result €4k after one loss-making year.

2021

01-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

31-03

Financial Weakest financial yearnet €-41k ▼397%

Net result drops to €-41k, the lowest in the series; recovery starts the following year.

2020

26-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

31-03

Financial Equity above €500kEq €512k ▲954%

2 profitable years in a row build equity to €512k.

2019

24-06

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2018

12-10

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2017

30-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2016

29-09

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.

Directors · office · real estate

Directors

no sitting director, no change since 2018

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

02-03-2018 Herman Cornelis: Resigned as Manager

02-03-2018 Maurice Pierreux: Resigned as Manager

Location & real-estate footprint

Registered office, Pepingen

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Ninoofsesteenweg(P) 1221670 Pepingen

Ground area

176 m²

Parcel 23064B0329/00F000, Flanders. Linked by address, not a title deed.

1 parcel

Flanders 1 (100%)