HVAC - PROJECT
ActiveSummary
The computed 12-month bankruptcy probability of HVAC - PROJECT is 1.9% (moderate). The 2025 annual accounts show equity of €1.3m and a net result of €656,014. Equity is growing by ~49.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 7967 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+63
Solvency100▲+25
Growth78▲+46
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity ample (current ratio 3.39 against 0.0 in 2024; short-term debt: 0.2% and cash: 0.7% of total assets), and 0.2% 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+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
99.8%
Return on assets
50.1%
Age of the figures
9 mo
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 30-06-2026, 31 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
31 d early
2024
41 d early
2023
48 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 40 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 20 June (3 of the last 3 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€656,014
2024 · -€3,505
Working capital
€6,383
2024 · -€649,631
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result-€2,908--€3,024▼ 4.0%€7,101
Net result€643,874above the sector's middle half--€3,505below the sector's middle half€656,014above the sector's middle half
Equity€653,874within the sector's middle half-€650,369within the sector's middle half▼ 0.5%€1.3mabove the sector's middle half▲ 101%
Total assets€1.3mwithin the sector's middle half-€1.3mwithin the sector's middle half▼ 0.8%€1.3mwithin the sector's middle half▲ 0.6%
Debt€657,818-€650,779▼ 1.1%€2,671▼ 99.6%
Working capital€10,997below the sector's middle half--€649,631below the sector's middle half€6,383below the sector's middle half
Solvency49.8%within the sector's middle half-50.0%within the sector's middle half▲ 0.1pp99.8%above the sector's middle half▲ 49.8pp
Current ratio1.02below the sector's middle half-0.00below the sector's middle half▼ 1.023.39above the sector's middle half▲ 3.39
Return on assets (ROA)49.1%above the sector's middle half--0.3%below the sector's middle half▼ 49.4pp50.1%above the sector's middle half▲ 50.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €7,101 after a loss of €3,024 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.3m =
Current assets
€9,054 ▲ 689%
Equity and liabilities €1.3m
Equity
€1.3m ▲ 101%
Debt
€2,671 ▼ 99.6%
Debt's share of the balance-sheet total falls from 50.0% to 0.2%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.00▼
2024 · 1.00
ROE
50.2%▲
2024 · -0.5%
Debt ≤ 1 year
€2,671▼
2024 · €650,779
Income taxes
€913
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 |
|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €1,150 | €2,417 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,026 | - | - | - |
| Other operating charges640/8 | €732 | €607 | €1,218 | ▲ 101% |
| Gross operating margin9900 | -€1,150 | -€2,417 | €8,319 | ▲ 444% |
| Operating profit (loss)9901 | -€2,908 | -€3,024 | €7,101 | ▲ 335% |
| Financial income75/76B | €660,000 | - | €650,000 | - |
| Recurring financial income75 | €660,000 | - | €650,000 | - |
| Financial charges65/66B | €13,218 | €481 | €174 | ▼ 63.8% |
| Recurring financial charges65 | €13,218 | €481 | €174 | ▼ 63.8% |
| Profit (loss) for the period before taxes9903 | €643,874 | -€3,505 | €656,927 | ▲ 18,843% |
| Income taxes67/77 | - | - | €913 | - |
| Profit (loss) for the period9904 | €643,874 | -€3,505 | €656,014 | ▲ 18,817% |
| Profit (loss) for the period to be appropriated9905 | €643,874 | -€3,505 | €656,014 | ▲ 18,817% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.3m | €1.3m | €1.3m | ▲ 0.6% |
| Fixed assets21/28 | €650,000 | €1.3m | €1.3m | = |
| Financial fixed assets28 | €650,000 | €1.3m | €1.3m | = |
| Current assets29/58 | €661,692 | €1,148 | €9,054 | ▲ 689% |
| Amounts receivable within one year40/41 | €407 | €495 | - | - |
| Other amounts receivable41 | €407 | €495 | - | - |
| Cash at bank and in hand54/58 | €1,285 | €653 | €9,054 | ▲ 1,287% |
| Deferred charges and accrued income490/1 | €660,000 | - | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.3m | ▲ 0.6% |
| Equity10/15 | €653,874 | €650,369 | €1.3m | ▲ 101% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €643,874 | €640,369 | €1.3m | ▲ 102% |
| Amounts payable17/49 | €657,818 | €650,779 | €2,671 | ▼ 99.6% |
| Amounts payable within one year42/48 | €650,695 | €650,779 | €2,671 | ▼ 99.6% |
| Financial debts43 | €350,000 | - | - | - |
| Credit institutions430/8 | €350,000 | - | - | - |
| Trade debts44 | €303 | €387 | - | - |
| Suppliers440/4 | €303 | €387 | - | - |
| Taxes, remuneration and social security45 | - | - | €2,279 | - |
| Taxes450/3 | - | - | €2,279 | - |
| Other amounts payable47/48 | €300,392 | €650,392 | €392 | ▼ 99.9% |
| Accrued charges and deferred income492/3 | €7,123 | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €643,874 | -€3,505 | €656,014 | ▲ 18,817% |
| + Depreciation and write-downs630 | €1,026 | - | - | - |
| Operating cash flow (approximation) | €644,900 | -€3,505 | €656,014 | ▲ 18,817% |
| Investment in fixed assets (approximation) | - | -€650,000 | €0 | ▲ 100% |
| Change in cash | - | -€632 | €8,401 | ▲ 1,429% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €656,014
Net result €656,014 after one loss-making year.
31-12
Financial
Liquidity times 1922current ratio 3.39
Current ratio from 0.00 to 3.39; short-term debt falls from €650,779 to €2,671.
31-12
Financial
Equity above €1mEq €1.3m ▲101%
Equity rises from €650,369 to €1.3m.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€3,505
Net result drops to -€3,505, the lowest in the series; recovery starts the following year.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full 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, Liège · 1 establishment unit since 2022
Ground area
212 m²
Building footprint
88 m²
Volume, LiDAR
610 m³
Parcel 62023A0438/00W007, Wallonia · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
HVAC - PROJECT
since 20222.337.787.496
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62023A0438/00W007 | Wallonia | 212 m² | 1 · 88 m² | 10.4 m · 2 fl. |
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 9,537 companies in sector 43222 we hold annual accounts for 5,668. 2,696 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
Founded02-08-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
28250Manufacture of machinery and equipment not elsewhere classified
43230Insulation installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0789294839
Also
9925:BE0789294839
Registered
26-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.