Summary
HTB PROJECTS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €5,018 and a net result of -€7,164. Equity is shrinking by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 18% of 8074 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 8074 sector peers (2025).
NBB · sector comparisonPosition among 8074 sector peers
Solvency
better than 18%
← weakest
strongest →
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 28-07-2026, 3 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
3 d early
2024
on the day
2023
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 1 day before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€5,018▼ 58.8%
2024 · €12,182
Net result
-€7,164
2024 · €4,121
Total assets
€41,723▼ 13.3%
2024 · €48,116
Solvency
12.0%▼ 13.3pp
2024 · 25.3%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line202320242025
Operating result€7,252-€6,400▼ 11.8%-€5,585
Net result€5,561within the sector's middle half-€4,121within the sector's middle half▼ 25.9%-€7,164below the sector's middle half
Equity€8,061below the sector's middle half-€12,182below the sector's middle half▲ 51.1%€5,018below the sector's middle half▼ 58.8%
Total assets€14,323below the sector's middle half-€48,116below the sector's middle half▲ 236%€41,723below the sector's middle half▼ 13.3%
Debt€6,263-€35,934▲ 474%€36,705▲ 2.1%
Working capital€5,365-€1,396▼ 74.0%-€4,067
Solvency56.3%within the sector's middle half-25.3%within the sector's middle half▼ 31.0pp12.0%below the sector's middle half▼ 13.3pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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 turns negative in 2025: a loss of €5,585 after €6,400 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41,081
Fixed assets
€25,034 ▲ 16.5%
Current assets
€16,046 ▼ 37.6%
Equity and liabilities €41,723
Equity
€5,018 ▼ 58.8%
Debt
€36,705 ▲ 2.1%
Debt's share of the balance-sheet total rises from 74.7% to 88.0%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-142.8%▼
2024 · 33.8%
ROA
-17.2%▼
2024 · 8.6%
Debt ≤ 1 year
€20,114▼
2024 · €24,305
Debt > 1 year
€16,591▲
2024 · €11,630
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €520 | €4,574 | €3,811 | ▼ 16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €15,005 | - |
| Other operating charges640/8 | €628 | €3,333 | €3,092 | ▼ 7.2% |
| Gross operating margin9900 | €8,400 | €14,306 | €16,323 | ▲ 14.1% |
| Operating profit (loss)9901 | €7,252 | €6,400 | -€5,585 | ▼ 187% |
| Financial income75/76B | - | - | €213 | - |
| Recurring financial income75 | - | - | €213 | - |
| Financial charges65/66B | €54 | €877 | €1,792 | ▲ 104% |
| Recurring financial charges65 | €54 | €877 | €1,792 | ▲ 104% |
| Profit (loss) for the period before taxes9903 | €7,198 | €5,523 | -€7,164 | ▼ 230% |
| Income taxes67/77 | €1,637 | €1,402 | - | - |
| Profit (loss) for the period9904 | €5,561 | €4,121 | -€7,164 | ▼ 274% |
| Profit (loss) for the period to be appropriated9905 | €5,561 | €4,121 | -€7,164 | ▼ 274% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €14,323 | €48,116 | €41,723 | ▼ 13.3% |
| Formation expenses20 | €1,228 | €935 | €642 | ▼ 31.3% |
| Fixed assets21/28 | €1,467 | €21,480 | €25,034 | ▲ 16.5% |
| Tangible fixed assets22/27 | €1,467 | €21,480 | €25,034 | ▲ 16.5% |
| Plant, machinery and equipment23 | - | €1,209 | €959 | ▼ 20.7% |
| Furniture and vehicles24 | €1,467 | €20,271 | €24,075 | ▲ 18.8% |
| Current assets29/58 | €11,628 | €25,701 | €16,046 | ▼ 37.6% |
| Amounts receivable within one year40/41 | €11,188 | €21,810 | €15,794 | ▼ 27.6% |
| Trade receivables40 | €9,126 | €20,525 | €11,013 | ▼ 46.3% |
| Other amounts receivable41 | €2,062 | €1,285 | €4,781 | ▲ 272% |
| Cash at bank and in hand54/58 | €440 | €3,891 | €40 | ▼ 99.0% |
| Deferred charges and accrued income490/1 | - | - | €213 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €14,323 | €48,116 | €41,723 | ▼ 13.3% |
| Equity10/15 | €8,061 | €12,182 | €5,018 | ▼ 58.8% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €5,561 | €9,682 | €2,518 | ▼ 74.0% |
| Distributable reserves133 | €5,561 | €9,682 | €2,518 | ▼ 74.0% |
| Amounts payable17/49 | €6,263 | €35,934 | €36,705 | ▲ 2.1% |
| Amounts payable after more than one year17 | - | €11,630 | €16,591 | ▲ 42.7% |
| Financial debts170/4 | - | €11,630 | €16,591 | ▲ 42.7% |
| Amounts payable within one year42/48 | €6,263 | €24,305 | €20,114 | ▼ 17.2% |
| Current portion of amounts payable after more than one year42 | - | €4,511 | €7,038 | ▲ 56.0% |
| Financial debts43 | - | - | €3,569 | - |
| Credit institutions430/8 | - | - | €3,569 | - |
| Trade debts44 | €1,207 | €14,705 | €5,106 | ▼ 65.3% |
| Suppliers440/4 | €1,207 | €14,705 | €5,106 | ▼ 65.3% |
| Taxes, remuneration and social security45 | €5,056 | €4,646 | €4,401 | ▼ 5.3% |
| Taxes450/3 | €5,056 | €4,646 | €4,401 | ▼ 5.3% |
| Other amounts payable47/48 | - | €442 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,561 | €4,121 | -€7,164 | ▼ 274% |
| + Depreciation and write-downs630 | €520 | €4,574 | €3,811 | ▼ 16.7% |
| Operating cash flow (approximation) | €6,080 | €8,695 | -€3,353 | ▼ 139% |
| Investment in fixed assets (approximation) | - | -€24,586 | -€7,365 | ▲ 70.0% |
| Change in cash | - | €3,451 | -€3,851 | ▼ 212% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€7,164
Net result drops to -€7,164, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Maldegem · 1 establishment unit since 2023
Ground area
71 m²
Building footprint
142 m²
Parcel 43010C0011/00K000, Flanders. Linked by address, not a title deed.
1 establishment unit
HTB PROJECTS
since 20232.342.069.255
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43010C0011/00K000 | Flanders | 71 m² | 1 · 142 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.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 3,293 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
Founded14-02-2023
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0798445897
Also
9925:BE0798445897
Registered
14-02-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.