FIRST CLASS PROJECTS
ActiveSummary
FIRST CLASS PROJECTS has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €77,530 and a net result of -€10,759. Equity is shrinking by about 4.9% per year across the filed financial years. Its solvency ranks better than 95% of 821 sector peers (NACE 58, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €77,530
- Loss
- -€10,759
- Holdings
- 1
Why 95raises riskLoss of €10,759, the second in a row (financial year 2025)lowers riskLiquidity: current ratio 39.42, cash €76,302Equity €77,530 (97.5% of total assets)Sector: Publishing activities (NACE 58)Show the evidence
Checked score
Fewer than 1 in 1,000 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 58, micro): better than 87% on solvency, 96% on liquidity, 17% on profitability and 29% on growth.
The bankruptcy probability was computed on 30-10-2026 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 7 accounts on average 35 days before the deadline; the sector median (NACE 58) for financial year 2024 is 7 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €11,247 in 2025 against €9,888 in 2024; the loss grows.
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 58, Publishing activities: 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 4,805 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 88.2% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% 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 4,805 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 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €987 | €5,271 | €5,057 | €5,247 | €5,298 | €5,462 | €733 | €625 | ▼ 14.8% |
| Other operating charges640/8 | - | - | - | €1,296 | €1,199 | €2,133 | €1,473 | €1,579 | ▲ 7.2% |
| Non-recurring operating charges66A | - | - | - | - | €7,160 | €0 | - | - | - |
| Gross operating margin9900 | €12,782 | €8,492 | €25,810 | €7,758 | €3,613 | -€6,014 | -€7,682 | -€9,044 | ▼ 17.7% |
| Operating profit (loss)9901 | €10,529 | €1,376 | €19,637 | €1,215 | -€10,044 | -€13,610 | -€9,888 | -€11,247 | ▼ 13.7% |
| Financial income75/76B | - | - | - | €2 | €0 | €365 | €420 | €721 | ▲ 71.7% |
| Recurring financial income75 | €94 | €80 | €20 | €2 | €0 | €365 | €420 | €721 | ▲ 71.7% |
| Financial charges65/66B | - | - | - | €188 | €58 | €110 | €134 | €93 | ▼ 30.8% |
| Recurring financial charges65 | €99 | €99 | €99 | €188 | €58 | €110 | €134 | €93 | ▼ 30.8% |
| Profit (loss) for the period before taxes9903 | €10,524 | €1,357 | €19,557 | €1,028 | -€10,102 | -€13,355 | -€9,602 | -€10,619 | ▼ 10.6% |
| Income taxes67/77 | €3,614 | €1,136 | €7,572 | €1,435 | €142 | €146 | €138 | €140 | ▲ 1.0% |
| Profit (loss) for the period9904 | €6,910 | €221 | €11,985 | -€407 | -€10,244 | -€13,501 | -€9,740 | -€10,759 | ▼ 10.5% |
| Profit (loss) for the period to be appropriated9905 | €6,910 | €221 | €11,985 | -€407 | -€10,244 | -€13,501 | -€9,740 | -€10,759 | ▼ 10.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €111,661 | €110,393 | €128,332 | €122,951 | €111,809 | €98,625 | €88,854 | €79,506 | ▼ 10.5% |
| Fixed assets21/28 | €9,091 | €26,208 | €22,403 | €17,156 | €6,246 | €783 | €919 | €1,598 | ▲ 73.9% |
| Intangible fixed assets21 | €1,670 | €1,302 | €933 | €565 | €1,281 | €685 | €285 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €261 | €17,747 | €14,310 | €9,431 | €4,965 | €98 | €634 | €1,598 | ▲ 152% |
| Plant, machinery and equipment23 | - | - | - | €788 | €643 | €98 | €634 | €1,598 | ▲ 152% |
| Furniture and vehicles24 | - | - | - | €8,643 | €4,322 | €0 | - | - | - |
| Financial fixed assets28 | €7,160 | €7,160 | €7,160 | €7,160 | €0 | - | - | - | - |
| Current assets29/58 | €102,570 | €84,185 | €105,929 | €105,796 | €105,563 | €97,842 | €87,935 | €77,908 | ▼ 11.4% |
| Stocks and contracts in progress3 | €113 | €441 | €513 | €513 | €513 | €543 | €543 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €513 | €513 | €543 | €543 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €6,821 | €7,574 | €6,112 | €3,714 | €7,859 | €4,954 | €898 | €1,591 | ▲ 77.2% |
| Trade receivables40 | - | - | - | €3,430 | €4,537 | €2,096 | €572 | €1,143 | ▲ 100.0% |
| Other amounts receivable41 | - | - | - | €284 | €3,323 | €2,858 | €326 | €447 | ▲ 37.3% |
| Cash at bank and in hand54/58 | €95,626 | €75,974 | €99,108 | €101,559 | €97,181 | €92,334 | €86,485 | €76,302 | ▼ 11.8% |
| Deferred charges and accrued income490/1 | - | - | - | €10 | €10 | €10 | €10 | €15 | ▲ 50.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €111,661 | €110,393 | €128,332 | €122,951 | €111,809 | €98,625 | €88,854 | €79,506 | ▼ 10.5% |
| Equity10/15 | €109,974 | €110,195 | €122,180 | €121,774 | €111,529 | €98,029 | €88,288 | €77,530 | ▼ 12.2% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €97,574 | €97,795 | €109,780 | €109,374 | €99,129 | €85,629 | €75,888 | €71,338 | ▼ 6.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €107,514 | €97,269 | €85,629 | €75,888 | €71,338 | ▼ 6.0% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | -€6,208 | - |
| Amounts payable17/49 | €1,687 | €198 | €6,152 | €1,178 | €279 | €596 | €566 | €1,976 | ▲ 249% |
| Amounts payable within one year42/48 | €1,687 | €198 | €6,152 | €1,178 | €279 | €596 | €566 | €1,976 | ▲ 249% |
| Trade debts44 | €517 | €198 | €309 | €223 | €279 | €439 | €504 | €1,858 | ▲ 269% |
| Suppliers440/4 | - | - | - | €223 | €279 | €439 | €504 | €1,858 | ▲ 269% |
| Taxes, remuneration and social security45 | - | - | - | €955 | €0 | €98 | €12 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €955 | €0 | €98 | €12 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €59 | €50 | €118 | ▲ 135% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,910 | €221 | €11,985 | -€407 | -€10,244 | -€13,501 | -€9,740 | -€10,759 | ▼ 10.5% |
| + Depreciation and write-downs630 | €987 | €5,271 | €5,057 | €5,247 | €5,298 | €5,462 | €733 | €625 | ▼ 14.8% |
| Operating cash flow (approximation) | €7,897 | €5,492 | €17,042 | €4,840 | -€4,946 | -€8,038 | -€9,007 | -€10,134 | ▼ 12.5% |
| Investment in fixed assets (approximation) | - | -€22,388 | -€1,252 | €0 | €5,612 | €0 | -€869 | -€1,304 | ▼ 50.1% |
| Change in cash | - | -€19,653 | €23,134 | €2,451 | -€4,378 | -€4,846 | -€5,850 | -€10,183 | ▼ 74.1% |
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 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 03-06-2026 | 2026-00134263 |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00194824 |
| 31-12-2023 | micro format | 07-05-2024 | 2024-00083448 |
| 31-12-2022 | abbreviated format | 31-07-2023 | 2023-00302815 |
| 31-12-2021 | abbreviated format | 29-06-2022 | 2022-20148547 |
| 31-12-2020 | abbreviated format | 30-06-2021 | 2021-29200098 |
| 31-12-2019 | abbreviated format | 22-07-2020 | 2020-33900541 |
| 31-12-2018 | abbreviated format | 17-07-2019 | 2019-34900186 |
| 31-12-2017 | abbreviated format | 09-07-2018 | 2018-31600531 |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-25200400 |
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
Owners and capital
Capital and shareholders
- 23-10-2023 Converted to available equity
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
9.68%
According to the 2021 annual accounts of FIRST CLASS PROJECTS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
No sitting directors or connected companies in the Gazette act read.
History
Acts, filings and financial milestones
23-10
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointments · MiscellaneousCapital conversion · Capital · Board composition10 facts ▸
- Other provision, 06-09-2023
- General meeting, 28-08-2023
- Other provision, “in overeenstemming brengen statuten met WVV en behoud rechtsvorm, statuten in overeenstemming brengen met Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Other provision, “terminologische aanpassingen statuten aan WVV” (deed in Dutch)
- Capital conversion, “beschikbare eigenvermogensrekening” (deed in Dutch)
- Amendment of the articles
- Capital
- Board composition, VAN EECKHOUT, Thierry Louis Georges Marie (niet statutair bestuurder)
- Registered office clause, “Romain Steppestraat 109, 2890 Puurs-Sint-Amands” (deed in Dutch)
- Power of attorney
Show earlier events
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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 |
|---|---|---|---|---|
| 12034A0267/00G002 | Flanders | 67 m² | 1 · 64 m² | 9.2 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Algemene managementactiviteiten voor derden, al dan niet intern management, voor allerlei bedrijven en sectoren; het geven van lessen en…” (deed in Dutch)
14 activities (deed in Dutch)
- Algemene managementactiviteiten voor derden, al dan niet intern management, voor allerlei bedrijven en sectoren; het geven van lessen en voordrachten, het organiseren van seminaries over alle bedrijfsactiviteiten; het verlenen van diensten en raadgevende activiteiten in de meest ruime zin, onder andere op het vlak van administratie, boekhouding, marketing en verkoop, bedrijfsorganisatie.
- Het kopen en verkopen van licenties; het kopen, verkopen en het bemiddelen bij overnamen en verkoop van ondernemingen; door middel van inbreng, inschrijving, fusie of gelijk welke andere manier belangen verwerven in elke onderneming, vereniging, bestaande of op te richten vennootschap.
- Het ontwerpen, ontwikkelen en ten uitvoer brengen van literaire en communicatieprojecten, zowel inzake het geschreven en gedrukte woord als inzake elektronische datatransmissie, het maken van studies, het schrijven en publiceren van artikels.
- Het bevorderen, propageren, organiseren en produceren van bestaande, nieuw aan te maken en experimentele muziek, theater-, film- en expressievormen, alsook het geven van vormings- en expressiekansen aan individuen en groepen van individuen; het schrijven, toonzetten, visualiseren, publiceren en produceren van tekststukken, muziekstukken, podiumkunsten en andere artistieke en commerciële producties voor alle mogelijke media, inbegrepen nieuwe technologieën zoals onder meer multimedia en audiovisuele media, alsmede het verzorgen van alle technische aspecten die met het vorenbedoelde verband houden of daartoe bevorderlijk kunnen zijn.
- Hiertoe kan zij alle hiermee rechtstreeks of onrechtstreeks verband houdende activiteiten, zelfs economische, inrichten.
- Het organiseren van vormingsactiviteiten op cultureel gebied; het groeperen van verschillende muziek- en theatergroepen en hun belangen vertegenwoordigen zoals daar zijn: materiaaluitwisseling, transport, publiciteit, management, belangenbehartiging enz.; het opzetten en produceren van theater-, film- en muziekproducties; contacten leggen tussen individuen en groepen teneinde vormen van groepsexpressie en vormen van artistieke expressie met een multidisciplinair karakter te bevorderen; en alle andere verrichtingen uitvoeren en manifestaties organiseren die tot de verwezenlijking van haar voorwerp nuttig zullen geacht worden.
- De vereniging kan tevens optreden als bureau voor private arbeidsbemiddeling van schouwspelartiesten, wanneer zij daartoe over de erkenning beschikt.
- De vennootschap mag alle hoegenaamde industriële, commerciële, roerende of onroerende en financiële verrichtingen uitvoeren die rechtstreeks of onrechtstreeks in verband staan met haar voorwerp.
- Zij mag roerende en onroerende goederen aankopen, verkopen, huren, verhuren, onderverhuren, dit alles voor haar rekening of voor rekening van derden.
- Zij mag personeel in dienst nemen, mag aan andere verenigingen, stichtingen en ondernemingen deelnemen.
- Voor al deze handelingen kan de vennootschap als commissionair, vertegenwoordiger en agent optreden.
- De vennootschap mag haar voorwerp zowel rechtstreeks als door bemiddeling van derden verwezenlijken.
- Al deze diensten worden gezien in de breedste zin, zowel voor binnen- en buitenland, zowel voor eigen rekening als voor rekening van derden.
- Zij kan ook functies van bestuurder of vereffenaar van andere vennootschappen uitoefenen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- FIRST CLASS PROJECTS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, bestuursorgaan,exploitatiezetels,administratieve zetels,filialen,agentschappen,depots in België of buitenland” (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.
- “Een of meer bestuurders, aantal duur opdracht en bij meerdere bevoegdheid” (deed in Dutch)“Elke bestuurder een stem, college kan voorzitter benoemen bij ontstentenis of afwezigheid waarneming door aangeduide aanwezige bestuurder” (deed in Dutch)1 more provision on this in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Steeds door deskundige onafhankelijk bedrijfsrevisor of gecertificeerd accountant in gemeen overleg tussen erfgenamenzijde en afkopende…” (deed in Dutch)“C-overdracht converteerbare obligaties en inschrijvingsrechten, alle voorafgaande bepalingen van statutair artikel gelden eveneens voor…” (deed in Dutch)“D-sanctie bij inbreuk, forfaitaire of werkelijke schadevergoeding aan elk in verhouding tot aantal aandelen in totaal door…” (deed in Dutch)“Unanieme schriftelijke verklaring of overeenkomst, afstand van naleving bepalingen of bepaalde onderdelen van statutair artikel en onderling…” (deed in Dutch)“Uitsluitend door voorkoopgerechtigden naar evenredigheid uitoefening, alle overdrachten ten bezwarende titel,ook openbare verkoop,vrijwillig…” (deed in Dutch)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of June at 10:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing-algemene-vergadering-met-vereisten-statutenwijziging, afsluiting-lopende-boekjaar” (deed in Dutch)1 more provision on this in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Een-of-meer-vereffenaars-door-algemene-vergadering, bestuurders-in-functie-van-rechtswege-vereffenaars-tegenover-derden” (deed in Dutch)