Debts
€102,510 ▲ 365%
Debts rose by €80,485 in 2025.
I&E PROJECTS
Overview
Lifetime
2 annual accounts with figures on one time axispeak €53,455 (2025)
€53,455▲ 60.2%
peak €20,114 (2025)
€20,114▲ 245%
peak €28,942 (2025)
€28,942▲ 228%
€102,510▲ 365%
Board1 name since 2023
1 directorKALKAN Numan
Documentsfilings and deeds
28-07-20263 days before the deadline
2025abbreviated format
Gross margin from €33,360 to €53,455Result from €5,827 to €20,114Equity from €8,827 to €28,942Debts from €22,025 to €102,510Investments €50,269Cash from €317 to €2,000
Key points
from the 2025 annual accountsInvestments
€50,269 10.6 × depreciation
Green is investment, beige is depreciation. Machinery stands 160.0% higher than in 2024.
Position in the sector
€28,942
Less equity than 84% of companies in specialised construction. Sector median €250,893 · 9,952 companies.
Checked score
54
Fair
Financially stronger than 48% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.1% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,701 companies (NACE 43, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.9%
01-2025: 2.9%● unchanged vs 12-2024
02-2025: 3.2%▲ +0.3 percentage points vs 01-2025
03-2025: 3.3%▲ +0.1 percentage points vs 02-2025
04-2025: 3.3%● unchanged vs 03-2025highest value
05-2025: 3.3%● unchanged vs 04-2025highest value
06-2025: 3.3%● unchanged vs 05-2025highest value
07-2025: 3.3%● unchanged vs 06-2025highest value
08-2025: 2.5%▼ -0.8 percentage points vs 07-2025
09-2025: 2.5%● unchanged vs 08-2025
10-2025: 2.5%● unchanged vs 09-2025
11-2025: 2.4%▼ -0.1 percentage points vs 10-2025
12-2025: 2.2%▼ -0.2 percentage points vs 11-2025
01-2026: 2.2%● unchanged vs 12-2025
02-2026: 2.2%● unchanged vs 01-2026
03-2026: 2.2%● unchanged vs 02-2026
04-2026: 2.3%▲ +0.1 percentage points vs 03-2026
05-2026: 2.4%▲ +0.1 percentage points vs 04-2026
06-2026: 2.4%● unchanged vs 05-2026
07-2026: 2.5%▲ +0.1 percentage points vs 06-2026
08-2026: 2.6%▲ +0.1 percentage points vs 07-2026
09-2026: 2.6%● unchanged vs 08-2026
10-2026: 2.6%● unchanged vs 09-2026
11-2026: 2.1%▼ -0.5 percentage points vs 10-2026lowest value
Financial strengthAverage
Score breakdown
raises risk
Founded in 2023
Size: total assets €131,452
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 1.20, cash €2,000
Calculation
The band follows from the bankruptcy probability. 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 43, micro). It does better than 24% of them on solvency, 14% on liquidity, 58% on profitability and 96% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,976 companies had the same profile as I&E PROJECTS has now. Each dot stands for 20 companies, two years later.
94.4%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of I&E PROJECTS itself: 2.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for I&E PROJECTS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.2 (1.37 in 2024), below the usual 1.5. Short-term debt is 53.3% and cash 1.5% of total assets. 78% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 9950 sector peers (2025).
NBB · sector comparisonPosition among 9950 sector peers
Solvency
better than 23%
← 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 · 2 filingsDeviation from the deadline
2025
3 days early
2024
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 2 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0799923366
First establishment
Nieuwstraat 186, Heusden-Zolder
Incorporation
Founding capital of €3,000 · Founder: KALKAN Numan · Appointment: KALKAN Numan (director) · published on 28-03-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| I&E PROJECTS Heusden-Zolder | €131,452 | €53,455 | 22.0% | - |
| G.K.S. Steenokkerzeel | €115,694 | €62,763 | 52.4% | - |
| CV-NUYTS Hasselt | €96,182 | €42,002 | 65.8% | - |
| XML Wellen | €197,203 | €61,213 | 33.1% | - |
| ALLROUND SOLUTIONS Hasselt | €116,168 | €86,382 | 56.2% | - |
| M.M.N. CONSTRUCT Antwerp | €108,842 | €49,612 | 34.5% | - |
| Interalliance Brussels | €108,183 | €65,750 | 21.9% | - |
These companies have the same main activity as I&E PROJECTS: other construction installation (NACE 43240). They are comparable in size and age: total assets between €96,200 and €197,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 24-03-2023Normal situation
- Activity
- Other construction installationNACE 43240and 1 other
- Establishment unit
- 2.344.990.8363550 Heusden-Zolder, since 01-04-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 07-01-2026
Annual accounts 2025
- €53,455▲ 60.2%
- ≈ €190,000estimated
- €20,114▲ 245%
- €28,942▲ 228%
- €131,452▲ 326%
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on I&E PROJECTS
The computed 12-month bankruptcy probability of I&E PROJECTS is 2.1% (moderate). The 2025 annual accounts show equity of €28,942 and a net result of €20,114.
Its solvency ranks better than 23% of 9,950 sector peers (NACE 43, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
abbreviated format, filed on 28-07-2026, 3 days before the deadline€53,455
▲ 60.2%
€37,440
▲ 201%
€20,114
▲ 245%
€14,367
▲ 79.5%
22.0%
▼ 6.6 percentage points
1.20
▼ 0.17
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €190,000. Estimated: probably between €150,000 and €280,000.
Balance sheet
balance sheet total €131,452 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
22.0%
Higher than 23% of 9,950 companies in 2025.
1.20
Higher than 28% of 9,814 companies in 2025.
15.3%
Higher than 80% of 9,883 companies in 2025.
I&E PROJECTS
Middle half of the sector
80% of the sector
Abbreviated accounts in specialised construction (NACE 43)
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
131,452 | 30,852 | |
21/28 |
46,977 | 1,463 | |
22/27 |
46,977 | 1,463 | |
23 |
3,804 | 1,463 | |
24 |
43,173 | - | |
29/58 |
84,475 | 29,389 | |
40/41 |
82,475 | 29,072 | |
40 |
66,573 | 24,292 | |
41 |
15,902 | 4,780 | |
54/58 |
2,000 | 317 | |
| Balance sheet: equity and liabilities | |||
10/49 |
131,452 | 30,852 | |
10/15 |
28,942 | 8,827 | |
10/11 |
3,000 | 3,000 | |
11 |
3,000 | 3,000 | |
1109/19 |
3,000 | 3,000 | |
13 |
20,114 | - | |
133 |
20,114 | - | |
14 |
5,827 | 5,827 | |
17/49 |
102,510 | 22,025 | |
17 |
32,402 | - | |
170/4 |
32,402 | - | |
42/48 |
70,108 | 21,386 | |
42 |
11,112 | - | |
44 |
48,098 | 19,299 | |
440/4 |
48,098 | 19,299 | |
45 |
10,897 | 2,087 | |
450/3 |
10,897 | 2,087 | |
492/3 |
- | 639 | |
| Income statement | |||
9900 |
53,455 | 33,360 | |
630 |
4,756 | 1,527 | |
631/4 |
10,000 | 18,500 | |
640/8 |
1,259 | 902 | |
9901 |
37,440 | 12,431 | |
75/76B |
5 | 10 | |
75 |
5 | 10 | |
65/66B |
8,521 | 4,526 | |
65 |
8,521 | 4,526 | |
9903 |
28,925 | 7,914 | |
67/77 |
8,811 | 2,087 | |
9904 |
20,114 | 5,827 | |
9905 |
20,114 | 5,827 | |
| Appropriation of the result | |||
9906 |
25,942 | 5,827 | |
14P |
5,827 | - | |
691/2 |
20,114 | - | |
6921 |
20,114 | - | |
| Document | |||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 42,196 | 13,958 | ||
| 24,870 | 7,354 | ||
| 50,269 | 2,990 | ||
| 1,683 | - | ||
| 14,367 | 8,003 | ||
| 22.0% | 28.6% | ||
| 1.20 | 1.37 | ||
| 3.54 | 2.50 | ||
| 69.5% | 66.0% | ||
| 15.3% | 18.9% | ||
| 4.95 | 3.08 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €50,269 | €2,990 |
| €4,756 | €1,527 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on I&E PROJECTS
The operating result for 2025 is 3 times that of 2024.
Debt's share of the balance-sheet total rises from 71.4% to 78.0%. Equity and debt are higher.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
since 24-03-2023
term without a fixed end
listed in the 2025 annual accounts, filed on 28-07-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 28-03-2023
Mandates through the years
1 name, the dashed line is todayKALKAN Numan
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- KALKAN Numan
- Director (not named in the articles), from 24-03-2023 to date
Control
Capital
- Contribution
- €3,000
- Source
- deed of 28-03-2023
Articles of association
deed of 28-03-2023 (in Dutch)- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 20:00
Founder
At incorporation
deed of 28-03-2023 ↗
- KALKAN Numan sole founder · 100% at incorporation
Network & group
No group
I&E PROJECTS has no parent and no holdings in its annual accounts. KALKAN Numan is the only director. I&E PROJECTS shares no director with another company.
Timeline
Timeline
5 events since 2023Filings
Establishments
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBabbreviated format · 3 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:0799923366
2025
Annual accounts 2024 filed PDFmicro format · on the deadline day
2023
First establishment Nieuwstraat 186, Heusden-Zolder
IncorporationFounding capital of €3,000 · Founder: KALKAN Numan · Appointment: KALKAN Numan (director) · published on 28-03-20233 points ▸
- Founder, KALKAN Numan
- Founding capital, €3,000
- Director appointment, KALKAN Numan (director (not named in the articles))
- The deed holds 1 more point.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 24 March 2023, I&E PROJECTS was incorporated as a private limited company by one natural person, with a starting capital of €3,000.12 KALKAN Numan has served as director since 2023.3 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Identity
- Enterprise number
- 0799.923.366
- VAT number
- BE 0799.923.366
- Peppol ID
- 0208:0799923366
- Other Peppol ID
- 9925:BE0799923366
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 24-03-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- First Friday of June at 20:00deed of 28-03-2023 (in Dutch)
- Peppol
- Reachable since 07-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- I&E PROJECTS in Dutch
- Entity type
- Legal entity
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Nieuwstraat 186, 3550 Heusden-Zolder”deed of 28-03-2023 (in Dutch)
Activities
NACEBEL 2025VAT activities
43240
Other construction installation main activity
Social security (RSZ) activities
43213
Specialised construction activities main activity
Codes under NACEBEL 2008
43299
Specialised construction activities main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “1. Algemene montagewerkzaamheden in de meest uitgebreide zin van het woord; 2. Plaatsen van industriële ventilatie in…”deed of 28-03-2023 (in Dutch)
25 activities
- 1. Algemene montagewerkzaamheden in de meest uitgebreide zin van het woord;
- 2. Plaatsen van industriële ventilatie in industriegebouwen,kantoorgebouwen,woningen,appartementen en studio’s;
- 3. Plaatsen van zonnepanelen en toebehoren;
- 4. Vervaardiging van ventilatiekanalen en buizen;
- 5. Het opvolgen en coördineren van werven m.b.t. elektriciteitswerken;
- 6. Het uitvoeren van elektriciteitswerken,alsook domotica,bewakingssystemen en alarmsystemen;
- 7. De installatie van industriële machines,toestellen en werktuigen;
- 8. De bouw van civieltechnische werken voor elektriciteit en telecommunicatie;
- 9. De installatie van elektrische bedrading en toebehoren; De installatie van verlichtings- en signaleringssystemen voor wegen en spoorwegen,havens en luchthavens;
- 10. De installatie van lichtreclames en uithangborden en overige bouwinstallaties;
- 11. Het bouwen van gebouwen en ontwikkelen van bouwprojecten,zowel residentieel als niet-residentieel,zowel nieuwbouw als renovatie;
- 12. Het slopen en bouwrijp maken van terreinen;
- 13. De werkzaamheden in verband met de afwerking van gebouwen;
- 14. De overige gespecialiseerde bouwactiviteiten als waterdichtingswerken,gevelreiniging,metsel- en voegwerken;
- 15. Het waterdicht maken van daken en dakterrassen. Het uitvoeren van alle herstellings- en onderhoudswerkzaamheden aan alle soorten dakbedekkingen en dakconstructies. Het onderhouden en herstellen van schouwen en afvoeren;
- 16. het adviseren,plaatsen,monteren en onderhouden van brandwerende afdichtingen en doorvoeringen;
- 17. alle pleisterwerken,zowel binnen als buiten,alle gyproc werken;
- 18. alle mogelijke verrichtingen die rechtstreeks of onrechtstreeks verband houden met het onderhoud,de renovatie,het herstel,de verfraaiing,de vernieuwing en de modernisering van alle soorten kunstwerken en onroerende goederen en,algemeen genomen,alle verrichtingen die rechtstreeks of onrechtstreeks verband houden met openbare en particuliere bouwwerken;
- 19. het verstrekken van advies en bijstand,zowel technisch als administratief en commercieel,aan alle vennootschappen en ondernemingen voor alle mogelijke aangelegenheden met betrekking tot de sector van de onroerende goederen;
- 20. Het uitvoeren van algemene bouwwerken;
- 21. Het uitbaten van een handcarwash;
- 22. Aankoop en verkoop,invoer,uitvoer,verdeling en levering van alle voertuigen,motoren en wisselstukken die nuttig zijn voor het gebruik van voertuigen,alsook alle producten van de machine-,metaal- of houtindustrie die ermee verband houden;
- 23. Klein- of groothandel van motorvoertuigen,met inbegrip van tweedehands voertuigen,wissel- en hulpstukken van motorvoertuigen,brandstoffen en smeermiddelen,industriële oliën en vetproducten;
- 24. Koerierdienst;
- 25. Beheer van een eigen roerend en onroerend vermogen: Het aanleggen,het oordeelkundig uitbouwen en beheren van een roerend patrimonium,alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook,zoals het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbonnen of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten rechtspersonen en ondernemingen. Het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals ondermeer de huurfinanciering aan derden,erfpacht en opstalrechten,het aankopen en verkopen zowel in volle eigendom als in vruchtgebruik en/of blote eigendom,ruilen,(ver)bouwen,onderhouden,(ver)huren,ter beschikking stellen,verkavelen,prospecteren en uitbaten van onroerende goederen,de aan en verkoop,(ver)huur van roerende goederen betreffende de inrichting en uitrusting van onroerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen,alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen;
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Nieuwstraat 186 registered office 3550 Heusden-Zolder 41001 General construction of residential buildings | 01-04-2023 | 2.344.990.836 |
Buildings and parcels at the address
- Ground area
- 852 m²
- Buildings
- 224 m²
- Volume, LiDAR
- 897 m³
- Tallest building
- 20.8 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71065A0761/00K002 | 852 m² | 1 · 224 m² | 20.8 m |
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0799.923.366