Management Project Development
ActiveSummary
Management Project Development has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31,459 and a net result of €71,276. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 51% of 9,394 sector peers (NACE 41, financial year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 24-06-2020 Normal situation
- Activity
- General construction of residential buildings NACE 41001and 2 others
- Establishment unit
- 2.308.451.827 9120 Beveren-Kruibeke-Zwijndrecht, since 01-10-2020
- Financial year end
- 30 September
- Peppol
- Reachable since 09-10-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.4%
- Gross margin
- €71,992
- ▲ 220%
- Turnover
- ≈ €380,000
- estimated
- Profit
- €71,276
- Equity
- €31,459
- Total assets
- €71,848
- ▼ 11.4%
- 2025 accounts filed 30 days after the deadline
Score breakdownraises riskSector: Construction of residential and non-residential buildings (NACE 41)Founded in 2020Size: total assets €71,848lowers riskLiquidity: current ratio 1.93, cash €23,328Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 41, micro). It does better than 52% of them on solvency, 75% on liquidity, 91% on profitability and 94% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 5 accounts on average 5 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 30 days after the deadline Filed on 30 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00127432.
Annual accounts 2025 filed on 30-05-2026 PDF all 5 filings
2021 to 2025, 5 financial years
The operating result for 2025 is nearly 20 times that of 2024. It is the second rise in a row, after the fall in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Staff
| Item | 30-09-2022 | 30-09-2023 |
|---|---|---|
| Employees at the balance-sheet date | 56 | 38 |
| full-time | 2 | 38 |
| part-time | 54 | - |
| in full-time equivalents | 32 | 38 |
| Average over the year, in full-time equivalents | 32 | 38 |
| On a permanent contract | 56 | 38 |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €13,619 | €3,596 | - | - | €5,000 |
| Financial fixed assets | €31,500 | - | - | - | - |
| Depreciation and write-downs of the year | €2,792 | €3,157 | €2,943 | €4,888 | €1,096 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 5 entries · €1.0m awarded · €1.0m paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 2 | -€2,062 | €74 |
| 2023 | 1 | €42,517 | €42,517 |
| 2022 | 2 | €999,113 | €996,977 |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0.005m | €0.006m | - | - | - |
| Remuneration, social security and pensions62 | €0.6m | €1.2m | €0.5m | €0.01m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.003m | €0.003m | €0.003m | €0.005m | €0.001m | ▼ 77.6% |
| Other operating charges640/8 | €0.001m | €0.003m | €0.008m | €394 | €433 | ▲ 9.8% |
| Gross operating margin9900 | €0.6m | €1.3m | €0.4m | €0.02m | €0.07m | ▲ 220% |
| Operating profit (loss)9901 | €0.03m | €0.1m | -€0.2m | €0.004m | €0.07m | ▲ 20× |
| Financial income75/76B | €6 | €6 | €7 | €1 | €0.001m | ▲ 724× |
| Recurring financial income75 | €6 | €6 | €7 | €1 | €0.001m | ▲ 724× |
| Financial charges65/66B | €52 | €0.002m | €0.002m | €0.01m | €70 | ▼ 99.5% |
| Recurring financial charges65 | €52 | €0.002m | €0.002m | €0.01m | €70 | ▼ 99.5% |
| Non-recurring financial charges66B | - | €44 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.1m | -€0.2m | -€0.01m | €0.07m | - |
| Income taxes67/77 | €0.009m | €0.03m | -€0.005m | - | - | - |
| Profit (loss) for the period9904 | €0.03m | €0.07m | -€0.2m | -€0.01m | €0.07m | - |
| Profit (loss) for the period to be appropriated9905 | €0.03m | €0.07m | -€0.2m | -€0.01m | €0.07m | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €103,543 | €290,835 | €226,112 | €81,136 | €71,848 | ▼ 11.4% |
| Fixed assets21/28 | €42,327 | €42,766 | €38,277 | €33,389 | €14,494 | ▼ 56.6% |
| Tangible fixed assets22/27 | €10,827 | €11,266 | €6,777 | €1,889 | €5,794 | ▲ 207% |
| Land and buildings22 | - | €3,328 | €2,609 | €1,889 | €1,170 | ▼ 38.1% |
| Plant, machinery and equipment23 | €8,448 | €6,392 | €4,168 | - | - | - |
| Furniture and vehicles24 | €2,379 | €1,546 | - | - | €4,623 | - |
| Financial fixed assets28 | €31,500 | €31,500 | €31,500 | €31,500 | €8,700 | ▼ 72.4% |
| Current assets29/58 | €61,216 | €248,069 | €187,835 | €47,747 | €57,354 | ▲ 20.1% |
| Stocks and contracts in progress3 | - | - | €163,596 | - | - | - |
| Stocks30/36 | - | - | €163,596 | - | - | - |
| Amounts receivable within one year40/41 | €814 | €4,646 | €19,959 | €1,830 | €34,026 | ▲ 19× |
| Trade receivables40 | €814 | - | - | - | €778 | - |
| Other amounts receivable41 | - | €4,646 | €19,959 | €1,830 | €33,248 | ▲ 18× |
| Cash at bank and in hand54/58 | €57,675 | €415 | €1,033 | €28 | €23,328 | ▲ 834× |
| Deferred charges and accrued income490/1 | €2,727 | €243,008 | €3,248 | €45,889 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €103,543 | €290,835 | €226,112 | €81,136 | €71,848 | ▼ 11.4% |
| Equity10/15 | €55,466 | €128,671 | -€30,186 | -€39,817 | €31,459 | - |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €20,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Distributable reserves133 | €20,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Profit (loss) carried forward14 | €5,466 | €58,671 | -€100,186 | -€109,817 | -€38,541 | ▲ 64.9% |
| Amounts payable17/49 | €48,077 | €162,163 | €256,298 | €120,953 | €40,388 | ▼ 66.6% |
| Amounts payable after more than one year17 | - | - | - | €10,675 | €10,675 | = |
| Financial debts170/4 | - | - | - | €10,675 | €10,675 | = |
| Amounts payable within one year42/48 | €48,077 | €162,163 | €256,298 | €110,278 | €29,713 | ▼ 73.1% |
| Current portion of amounts payable after more than one year42 | - | €18,844 | €47,268 | - | - | - |
| Financial debts43 | - | €15,001 | - | - | - | - |
| Credit institutions430/8 | - | €15,001 | - | - | - | - |
| Trade debts44 | €7,396 | €51,387 | €183,879 | €9,991 | €10,981 | ▲ 9.9% |
| Suppliers440/4 | €7,396 | €51,387 | €183,879 | €9,991 | €10,981 | ▲ 9.9% |
| Taxes, remuneration and social security45 | €39,962 | €69,913 | - | €2,724 | €154 | ▼ 94.3% |
| Taxes450/3 | €9,407 | - | - | - | - | - |
| Remuneration and social security454/9 | €30,555 | €69,913 | - | €2,724 | €154 | ▼ 94.3% |
| Other amounts payable47/48 | €718 | €7,018 | €25,151 | €97,563 | €18,578 | ▼ 81.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,466 | €73,205 | -€158,857 | -€9,631 | €71,276 | - |
| + Depreciation and write-downs630 | €2,792 | €3,157 | €2,943 | €4,888 | €1,096 | ▼ 77.6% |
| Operating cash flow (approximation) | €28,258 | €76,362 | -€155,914 | -€4,744 | €72,372 | - |
| Investment in fixed assets (approximation) | - | -€3,596 | €1,546 | €0 | €17,800 | - |
| Change in cash | - | -€57,260 | €617 | -€1,005 | €23,300 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as Management Project Development has now. Two years later, 1.6% had gone bankrupt and 94.9% were still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Management Project Development itself: 1.4% within 12 months.
Test of the method
The method was tested on the 497,446 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 26,972 companies, not a prediction for Management Project Development. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-05-2026 | 2026-00127432 | |
| 30-09-2024 | micro format | 12-04-2025 | 2025-00068506 | |
| 30-09-2023 | micro format | 30-04-2024 | 2024-00078046 | |
| 30-09-2022 | micro format | 13-03-2023 | 2023-00039560 | |
| 30-09-2021 | micro format | 13-05-2022 | 2022-20026249 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Muradova Olvie |
|
| Olvie Hristova |
|
| Galya Hristova |
|
Network & group
Management Project Development shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of Management Project Development. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
17-09
Gazette deed
Registered office moved within Beveren-Kruibeke-ZwijndrechtPermanent representative: Liesbet Desmedt · Power of attorney5 points ▸
- General meeting, 01-03-2025
- Registered-office move, Schaarbeekstraat 40A, 9120 Beveren-Kruibeke-Zwijndrecht
- Power of attorney
- Permanent representative, Liesbet Desmedt
- Other provision, “signature block requirement, akten van het type Mededelingen” (deed in Dutch)
12-11
Gazette deed
Resignation: Galya Hristova (director)Appointment: Olvie Hristova (director) · Director discharge4 points ▸
- General meeting, 23-10-2024
- Director resignation, Galya Hristova (director)
- Director discharge, Galya Hristova (director)
- Director appointment, Olvie Hristova (director)
31-03
Gazette deed
PurposePurpose change · Power of attorney4 points ▸
- General meeting, 29-03-2023
- Purpose change
- Other provision, “verslag bestuursorgaan over voorgestelde voorwerpwijziging, aanwezige aandeelhouder erkent kennis genomen te hebben” (deed in Dutch)
- Power of attorney, Vincent Lesseliers
23-02
Gazette deed
Company renamed from ANGI to Management Project DevelopmentRegistered office moved from Gent to Beveren · Power of attorney4 points ▸
- General meeting, 20-02-2023
- Name change, Management Project Development
- Registered-office move, Aven Ackers 19,9130 Beveren(Verrebroek)
- Power of attorney, Vincent Lesseliers
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Management Project Development was incorporated on 24 June 2020 as a private limited company.1 The name was changed to Management Project Development in 2023.2 The registered office moved to Beveren in 2023 and to Beveren-Kruibeke-Zwijndrecht in 2025.23 Since 2024, Muradova Olvie has served as director.4 Total assets fell from €103,543 in 2021 to €71,848 in 2025.5
Company details
Register details
Identity
KBO recordRegistered office and establishments
2 former offices
- 9130 Beveren-Kruibeke-Zwijndrecht until 01-03-2025 · act of 17-09-2025
- 9041 Gent until the act of 23-02-2023
Activities
NACEBEL 20254 activities
- Het beheer van onroerende goederen; de aankoop/verkoop - huur/verhuur van onroerende goederen;
- Algemene bouw van residentiële gebouwen;
- Binnen- en buitenrenovaties: dakdekken, alle isolatiewerkzaamheden, plaatsten van zonnepanelen, ventilatie, sanitair, vloerverwarming en warmtepompen, elektriciteit en domotica, binnen en buitenschrijnwerk;
- Projectontwikkeling, bouw en verkoop van ontwikkelde projecten.
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 0748.936.703
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46016F0470/00G000 | Flanders | 2,509 m² | 1 · 429 m² | 7.3 m · 1 |