HR PROJECTS
ActiveSummary
HR PROJECTS has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5,000 and a net result of €13,144. Equity is growing by ~47.1% per year across the filed fiscal years. Its solvency ranks better than 18% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+12
Solvency36▼-29
Growth78=
Track record94
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 31942 sector peers (2025).
NBB · sector comparisonPosition among 31942 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 4 filingsDeviation from the deadline
2025
10 d late
2024
58 d early
2023
48 d early
2022
49 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 36 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€0▼ 100%
2022 · €40,117
EBIT margin
-9.3%
Net result
€13,144▲ 343%
2024 · €2,965
Working capital
€5,617▼ 5.6%
2024 · €5,953
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line2022202320242025
Turnover€40,117-€0▼ 100%
Operating result-€3,734-€3,713€6,717▲ 80.9%€18,935▲ 182%
Net result-€4,332below the sector's middle half-€2,320below the sector's middle half€2,965within the sector's middle half▲ 27.8%€13,144within the sector's middle half▲ 343%
EBIT margin-9.3%-
Equity€668below the sector's middle half-€2,988below the sector's middle half▲ 347%€5,953below the sector's middle half▲ 99.2%€5,000below the sector's middle half▼ 16.0%
Total assets€5,880below the sector's middle half-€13,729below the sector's middle half▲ 133%€14,814below the sector's middle half▲ 7.9%€43,729below the sector's middle half▲ 195%
Debt€5,212-€10,741▲ 106%€8,861▼ 17.5%€38,729▲ 337%
Working capital€668below the sector's middle half-€2,988within the sector's middle half▲ 347%€5,953within the sector's middle half▲ 99.2%€5,617within the sector's middle half▼ 5.6%
Solvency11.4%below the sector's middle half-21.8%below the sector's middle half▲ 10.4pp40.2%within the sector's middle half▲ 18.4pp11.4%below the sector's middle half▼ 28.8pp
Current ratio1.13within the sector's middle half-1.28within the sector's middle half▲ 0.151.67within the sector's middle half▲ 0.391.20within the sector's middle half▼ 0.47
Return on assets (ROA)-73.7%below the sector's middle half-16.9%within the sector's middle half▲ 90.6pp20.0%within the sector's middle half▲ 3.1pp30.1%within the sector's middle half▲ 10.0pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 182% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €43,729
Fixed assets
€9,711
Current assets
€34,019
Equity and liabilities €43,729
Equity
€5,000 ▼ 16.0%
Debt
€38,729 ▲ 337%
Debt's share of the balance-sheet total rises from 59.8% to 88.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€20,548
Cash flow
€14,757
Debt to equity
7.75▲
2024 · 1.49
ROE
262.9%▲
2024 · 49.8%
Interest coverage
12.86
Debt ≤ 1 year
€28,401▲
2024 · €8,861
Debt > 1 year
€10,328
Income taxes
€4,984▲
2024 · €2,588
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.1% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.1%
went bankrupt
1.6%
stopped otherwise
94%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 7,976 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €40,117 | €0 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €43,851 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €1,613 | - |
| Other operating charges640/8 | - | €0 | - | €1,470 | - |
| Gross operating margin9900 | -€3,734 | €3,713 | €6,717 | €22,017 | ▲ 228% |
| Operating profit (loss)9901 | -€3,734 | €3,713 | €6,717 | €18,935 | ▲ 182% |
| Financial income75/76B | - | €29 | €257 | €791 | ▲ 208% |
| Recurring financial income75 | - | €29 | €257 | €791 | ▲ 208% |
| Financial charges65/66B | €535 | €1,075 | €1,421 | €1,598 | ▲ 12.4% |
| Recurring financial charges65 | €535 | €1,075 | €1,421 | €1,598 | ▲ 12.4% |
| Profit (loss) for the period before taxes9903 | -€4,270 | €2,667 | €5,552 | €18,127 | ▲ 226% |
| Income taxes67/77 | €62 | €347 | €2,588 | €4,984 | ▲ 92.6% |
| Profit (loss) for the period9904 | -€4,332 | €2,320 | €2,965 | €13,144 | ▲ 343% |
| Profit (loss) for the period to be appropriated9905 | -€4,332 | €2,320 | €2,965 | €13,144 | ▲ 343% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €5,880 | €13,729 | €14,814 | €43,729 | ▲ 195% |
| Fixed assets21/28 | - | €0 | - | €9,711 | - |
| Tangible fixed assets22/27 | - | €0 | - | €9,711 | - |
| Furniture and vehicles24 | - | €0 | - | €9,711 | - |
| Current assets29/58 | €5,880 | €13,729 | €14,814 | €34,019 | ▲ 130% |
| Amounts receivable within one year40/41 | €300 | €1,399 | €7,383 | €22,872 | ▲ 210% |
| Trade receivables40 | €300 | €300 | €0 | €1,079 | - |
| Other amounts receivable41 | €0 | €1,099 | €7,383 | €21,793 | ▲ 195% |
| Current investments50/53 | - | €0 | - | - | - |
| Cash at bank and in hand54/58 | €4,051 | €12,330 | €7,431 | €8,489 | ▲ 14.2% |
| Deferred charges and accrued income490/1 | €1,530 | €0 | - | €2,657 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €5,880 | €13,729 | €14,814 | €43,729 | ▲ 195% |
| Equity10/15 | €668 | €2,988 | €5,953 | €5,000 | ▼ 16.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€4,332 | -€2,012 | €953 | €0 | ▼ 100% |
| Amounts payable17/49 | €5,212 | €10,741 | €8,861 | €38,729 | ▲ 337% |
| Amounts payable after more than one year17 | - | - | - | €10,328 | - |
| Financial debts170/4 | - | - | - | €10,328 | - |
| Amounts payable within one year42/48 | €5,212 | €10,741 | €8,861 | €28,401 | ▲ 221% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,840 | - |
| Trade debts44 | €2,065 | €5,894 | €1,706 | €1,511 | ▼ 11.4% |
| Suppliers440/4 | €2,065 | €5,894 | €1,706 | €1,511 | ▼ 11.4% |
| Taxes, remuneration and social security45 | €3,147 | €4,847 | €7,155 | €9,954 | ▲ 39.1% |
| Taxes450/3 | €3,147 | €4,847 | €7,155 | €9,954 | ▲ 39.1% |
| Remuneration and social security454/9 | - | - | €0 | €0 | - |
| Other amounts payable47/48 | €0 | €0 | - | €14,096 | - |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,332 | €2,320 | €2,965 | €13,144 | ▲ 343% |
| + Depreciation and write-downs630 | - | - | - | €1,613 | - |
| Operating cash flow (approximation) | -€4,332 | €2,320 | €2,965 | €14,757 | ▲ 398% |
| Change in cash | - | €8,279 | -€4,899 | €1,058 | ▲ 122% |
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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
31-12
Financial
Highest result since 2022net €13,144 ▲343%
Operating result €18,935, net result €13,144, both a record.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2,320
Net result €2,320 after one loss-making year.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Nandrin · 1 establishment unit since 2022
Ground area
1,841 m²
Building footprint
152 m²
Volume, LiDAR
912 m³
2 parcels, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
HR PROJECTS
since 20222.332.015.602
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61043C0074/00E004 | Wallonia | 1,624 m² | 1 · 105 m² | 7.5 m · 2 fl. |
| 62061B0889/00C000 | Wallonia | 217 m² | 1 · 47 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900M7HFAPPN7UJ082
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 15,603 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-05-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0786671087
Also
9925:BE0786671087
Registered
29-09-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.