Summary
MONSTREY 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 €137,373 and a net result of -€34,376. Equity has been shrinking by about 3.3% per year since 2018. Its solvency ranks better than 11% of 3,032 sector peers (NACE 64, financial year 2025). The company has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 17-07-1990 Normal situation
- Activity
- Financial service activities, except insurance and pension funding NACE 64190and 1 other
- Establishment unit
- 2.049.497.459 3360 Bierbeek, since 11-09-1990
- Financial year end
- 31 December
- Peppol
- Reachable since 05-06-2025
Board and ownership
Board
- Geert MonstreyDirector
- Geert-Jan MonstreyDirector
Shareholders
- Gilis & Monstrey100%2025 annual accounts of Gilis & Monstrey
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Loss
- €34,376
- Equity
- €137,373
- ▼ 20.8%
- Total assets
- €1.5m
- ▲ 18.8%
Signalsraises riskWeak solvency compared with the sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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
Two signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 3032 sector peers (2025).
NBB · sector comparisonPosition among 3032 sector peers
Solvency
better than 11%
← 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 22-06-2026, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 days early
2024
38 days early
2023
37 days early
2022
39 days early
2021
37 days early
2020
8 days early
2019
42 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 34 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% 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. The company usually files around 23 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 34 filings
Equity
€137,373▼ 20.8%
2024 · €173,423
Net result
-€34,376
2024 · €5,623
Total assets
€1.5m▲ 18.8%
2024 · €1.3m
Solvency
9.2%▼ 4.6pp
2024 · 13.8%
In the rankings
#2 oldest company in Bierbeek, Finance and insurance sector#8 company by total assets in Bierbeek, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€11,173
2025
20182025
Net result
-€34,376
2025
lowest quarter of the sector
20182025
Equity
€137,373
▼ 20.8%
2025
lowest quarter of the sector
20182025
Total assets
€1.5m
▲ 18.8%
2025
lowest quarter of the sector
20182025
Debt
€1.4m
▲ 25.1%
2025
20182025
Working capital
-€527,134
▼ 6.4%
2025
middle half of the sector
20182025
Solvency
9.2%
▼ 4.6pp
2025
lowest quarter of the sector
20182025
Current ratio
0.08
▼ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-2.3%
▼ 2.7pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.002m▼ 91.9%€0.03m▲ 17×€0.04m▲ 10.3%-€0.03m-€0.005m▲ 81.7%€0.03m-€0.01m
Net result€0.03m-€0.001m▼ 95.5%€0.03mwithin the sector's middle half▲ 22×€0.03mwithin the sector's middle half▲ 7.5%-€0.03mbelow the sector's middle half-€0.02mbelow the sector's middle half▲ 36.9%€0.006mwithin the sector's middle half-€0.03mbelow the sector's middle half
Equity€0.2m-€0.2m▼ 0.3%€0.2mwithin the sector's middle half▲ 13.0%€0.2mwithin the sector's middle half▲ 12.4%€0.2mwithin the sector's middle half▼ 15.9%€0.2mbelow the sector's middle half▼ 12.2%€0.2mbelow the sector's middle half▲ 2.3%€0.1mbelow the sector's middle half▼ 20.8%
Total assets€0.3m-€0.4m▲ 45.7%€0.4mbelow the sector's middle half▲ 3.4%€0.4mbelow the sector's middle half▲ 3.5%€0.8mwithin the sector's middle half▲ 86.6%€1.2mwithin the sector's middle half▲ 46.4%€1.3mwithin the sector's middle half▲ 6.4%€1.5mbelow the sector's middle half▲ 18.8%
Debt€0.1m-€0.2m▲ 132%€0.2m▼ 4.3%€0.2m▼ 4.9%€0.6m▲ 202%€1.0m▲ 64.7%€1.1m▲ 7.1%€1.4m▲ 25.1%
Working capital€0.06m--€0.05m-€0.04mwithin the sector's middle half▲ 23.1%-€0.03mwithin the sector's middle half▲ 34.1%-€0.2mbelow the sector's middle half▼ 620%-€0.4mbelow the sector's middle half▼ 89.8%-€0.5mbelow the sector's middle half▼ 30.4%-€0.5mwithin the sector's middle half▼ 6.4%
Solvency65.1%-44.6%▼ 20.6pp48.7%within the sector's middle half▲ 4.1pp52.9%within the sector's middle half▲ 4.2pp23.8%below the sector's middle half▼ 29.0pp14.3%below the sector's middle half▼ 9.5pp13.8%below the sector's middle half▼ 0.5pp9.2%below the sector's middle half▼ 4.6pp
Current ratio1.64-0.37▼ 1.270.52within the sector's middle half▲ 0.140.68within the sector's middle half▲ 0.160.11below the sector's middle half▼ 0.560.17below the sector's middle half▲ 0.060.09below the sector's middle half▼ 0.080.08below the sector's middle half▼ 0.01
Return on assets (ROA)9.1%-0.3%▼ 8.8pp6.0%within the sector's middle half▲ 5.7pp6.2%within the sector's middle half▲ 0.2pp-4.3%below the sector's middle half▼ 10.5pp-1.8%below the sector's middle half▲ 2.4pp0.4%within the sector's middle half▲ 2.3pp-2.3%below the sector's middle half▼ 2.7pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 operating result for 2025 is a loss of €11,173, after a profit of €26,339 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.5m ▲ 20.1%
Current assets
€44,763 ▼ 11.4%
Equity and liabilities €1.5m
Equity
€137,373 ▼ 20.8%
Debt
€1.4m ▲ 25.1%
Debt's share of the balance-sheet total rises from 86.2% to 90.8%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-25.0%▼
2024 · 3.2%
Debt ≤ 1 year
€571,897▲
2024 · €545,761
Debt > 1 year
€769,580▲
2024 · €518,948
Income taxes
€0▼
2024 · €222
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,000 | €488,640 | €564,378 | €190,261 | €482,647 |
| Depreciation and write-downs of the year | €14,930 | €78,546 | €70,496 | €85,600 | €124,684 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,664 | €14,479 | €15,047 | €14,930 | €78,546 | €70,496 | €85,600 | €124,684 | ▲ 45.7% |
| Other operating charges640/8 | - | - | - | €2,272 | €4,596 | €3,603 | €4,746 | €4,454 | ▼ 6.2% |
| Gross operating margin9900 | €28,919 | €41,753 | €51,187 | €54,593 | €57,667 | €69,435 | €116,685 | €117,965 | ▲ 1.1% |
| Operating profit (loss)9901 | €25,278 | €2,047 | €33,884 | €37,390 | -€25,476 | -€4,663 | €26,339 | -€11,173 | - |
| Financial income75/76B | - | - | - | €1 | €0 | - | €80 | €221 | ▲ 175% |
| Recurring financial income75 | - | - | - | €1 | €0 | - | €80 | €221 | ▲ 175% |
| Financial charges65/66B | - | - | - | €1,425 | €9,240 | €17,240 | €20,575 | €23,424 | ▲ 13.8% |
| Recurring financial charges65 | - | €900 | €1,519 | €1,425 | €9,240 | €17,240 | €20,575 | €23,424 | ▲ 13.8% |
| Profit (loss) for the period before taxes9903 | €25,278 | €1,147 | €32,366 | €35,966 | -€34,716 | -€21,903 | €5,845 | -€34,376 | - |
| Income taxes67/77 | - | - | €7,273 | €8,988 | €0 | - | €222 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €25,278 | €1,147 | €25,093 | €26,978 | -€34,716 | -€21,903 | €5,623 | -€34,376 | - |
| Profit (loss) for the period to be appropriated9905 | €25,278 | €1,147 | €25,093 | €26,978 | -€34,716 | -€21,903 | €5,623 | -€34,376 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.3m | €0.4m | €0.4m | €0.4m | €0.8m | €1.2m | €1.3m | €1.5m | ▲ 18.8% |
| Fixed assets21/28 | €0.1m | €0.4m | €0.4m | €0.4m | €0.8m | €1.1m | €1.2m | €1.5m | ▲ 20.1% |
| Tangible fixed assets22/27 | €0.1m | €0.4m | €0.4m | €0.4m | €0.8m | €1.1m | €1.2m | €1.5m | ▲ 20.1% |
| Land and buildings22 | - | - | - | €0.3m | €0.7m | €1.0m | €1.1m | €1.5m | ▲ 32.5% |
| Assets under construction and advance payments27 | - | - | - | €0.06m | €0.08m | €0.1m | €0.1m | €0 | ▼ 100% |
| Current assets29/58 | €0.2m | €0.03m | €0.04m | €0.06m | €0.03m | €0.08m | €0.05m | €0.04m | ▼ 11.4% |
| Amounts receivable within one year40/41 | €0.2m | €0.03m | €227 | €0 | - | - | - | €66 | - |
| Other amounts receivable41 | - | - | - | €0 | - | - | - | €66 | - |
| Cash at bank and in hand54/58 | €6 | €0.004m | €0.04m | €0.06m | €0.03m | €0.08m | €0.05m | €0.04m | ▼ 8.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €0.002m | €0.001m | ▼ 72.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.3m | €0.4m | €0.4m | €0.4m | €0.8m | €1.2m | €1.3m | €1.5m | ▲ 18.8% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 20.8% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Revaluation surpluses12 | - | - | - | €0.07m | €0.07m | €0.06m | €0.06m | €0.06m | ▼ 2.7% |
| Reserves13 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | = |
| Profit (loss) carried forward14 | - | €0.001m | €0.03m | €0.05m | €0.02m | -€0.003m | €0 | -€0.03m | - |
| Amounts payable17/49 | €0.1m | €0.2m | €0.2m | €0.2m | €0.6m | €1.0m | €1.1m | €1.4m | ▲ 25.1% |
| Amounts payable after more than one year17 | - | €0.1m | €0.1m | €0.1m | €0.4m | €0.6m | €0.5m | €0.8m | ▲ 48.3% |
| Financial debts170/4 | - | - | - | €0.1m | €0.4m | €0.6m | €0.5m | €0.8m | ▲ 48.3% |
| Amounts payable within one year42/48 | €0.1m | €0.09m | €0.09m | €0.09m | €0.2m | €0.5m | €0.5m | €0.6m | ▲ 4.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.02m | €0.03m | €0.03m | €0.05m | ▲ 51.2% |
| Financial debts43 | - | - | - | €0.08m | €0.2m | €0.4m | €0.5m | €0.5m | ▲ 2.2% |
| Other loans439 | - | - | - | €0.08m | €0.2m | €0.4m | €0.5m | €0.5m | ▲ 2.2% |
| Trade debts44 | - | €138 | €0 | - | €0.001m | €0.02m | €0.002m | €0.001m | ▼ 50.1% |
| Suppliers440/4 | - | - | - | - | €0.001m | €0.02m | €0.002m | €0.001m | ▼ 50.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.001m | €0 | €198 | €198 | = |
| Taxes450/3 | - | - | - | €0.001m | €0.001m | €0 | €198 | €198 | = |
| Other amounts payable47/48 | - | - | - | - | €356 | €356 | €356 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.003m | €0.008m | €0.02m | €0.02m | ▼ 14.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,278 | €1,147 | €25,093 | €26,978 | -€34,716 | -€21,903 | €5,623 | -€34,376 | - |
| + Depreciation and write-downs630 | €1,664 | €14,479 | €15,047 | €14,930 | €78,546 | €70,496 | €85,600 | €124,684 | ▲ 45.7% |
| Operating cash flow (approximation) | €26,942 | €15,627 | €40,140 | €41,909 | €43,831 | €48,592 | €91,222 | €90,308 | ▼ 1.0% |
| Investment in fixed assets (approximation) | - | -€268,741 | -€16,326 | -€16,326 | -€486,966 | -€393,768 | -€188,587 | -€367,873 | ▼ 95.1% |
| Change in cash | - | €3,795 | €40,754 | €13,670 | -€32,526 | €52,184 | -€29,663 | -€4,166 | ▲ 86.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 22-06-2026 | 2026-00182757 | |
| 31-12-2024 | abbreviated format | 23-06-2025 | 2025-00161909 | |
| 31-12-2023 | abbreviated format | 24-06-2024 | 2024-00154891 | |
| 31-12-2022 | abbreviated format | 22-06-2023 | 2023-00152669 | |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20142407 | |
| 31-12-2020 | abbreviated format | 23-07-2021 | 2021-39600040 | |
| 31-12-2019 | abbreviated format | 19-06-2020 | 2020-19200299 | |
| 31-12-2018 | abbreviated format | 21-06-2019 | 2019-21200574 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-32200235 | |
| 31-12-2016 | abbreviated format | 04-07-2017 | 2017-27500467 |
Board & ownership
Directors
Directors
2 directors
Geert Monstrey
Current
Director · in office according to the act of 24-10-2023 · term until the 2029 general meeting · listed in the 2025 annual accounts, filed on 22-06-2026
Geert-Jan Monstrey
Current
Director · in office according to the act of 24-10-2023 · term until the 2029 general meeting · listed in the 2025 annual accounts, filed on 22-06-2026
Owners and capital
Shareholders
1 ownerChain of control
- Gilis & Monstrey
- MONSTREY PROJECTS
Owners 1
- Gilis & MonstreyparentEquity €1.5m Profit of €320,417 in 2025 (profit of €361,417 in 2024)100%
Capital transactions
Capital over time
- 24-10-2023 Capital stated in the deed · €62,000 · 160 shares
Mandate history
2 people, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Geert Monstrey |
|
| Geert-Jan Monstrey |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Vennootschap zelf tot bestuurder/zaakvoerder benoemd in een vennootschap, benoemen vaste vertegenwoordiger”
Articles of association, deed of 24-10-2023 (in Dutch)
Network & group
Companies at the same address
3 other companiesConnections & network
2 current directorsThe network starts from the directors of MONSTREY PROJECTS. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
22-06
full format · 39 days before the deadline
2025
23-06
abbreviated format · 38 days before the deadline
2024
31-12
Financial
Back to profitnet €5,623
The net result is €5,623, after 2 loss-making years.
24-06
abbreviated format · 37 days before the deadline
2023
24-10
Gazette deed
Reappointments: Geert Monstrey (director) and Geert-Jan Monstrey (director)Amendment of the articles · Purpose change · Capital7 points ▸
Gazette deed
Reappointments: Geert Monstrey (director) and Geert-Jan Monstrey (director)
Amendment of the articles · Purpose change · Capital7 points ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Purpose change
- Capital, €62,000
- Director reappointment, Geert Monstrey (director)
- Director reappointment, Geert-Jan Monstrey (director)
- Registered office clause, “Tiensesteenweg 43,3360 Bierbeek” (deed in Dutch)
22-06
abbreviated format · 39 days before the deadline
2022
31-12
Financial
Weakest financial yearnet -€34,716
The net result drops to -€34,716, the lowest from 2018 to 2025. It recovers the following year.
24-06
abbreviated format · 37 days before the deadline
2021
31-12
Financial
Highest result from 2018 to 2025net €26,978 ▲7.5%
The operating result of €37,390 and the net result of €26,978 are both a record.
23-07
abbreviated format · 8 days before the deadline
2020
31-12
Financial
Equity above €200,000equity €204,138 ▲13%
With a profit in every financial year since 2018, equity grows to €204,138.
19-06
abbreviated format · 42 days before the deadline
Show earlier events
2019
21-06
abbreviated format · 40 days before the deadline
2018
11-07
abbreviated format · 20 days before the deadline
2017
04-07
abbreviated format · 27 days before the deadline
1990
02-08
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MONSTREY PROJECTS in Dutch
Enterprise number
0441.412.653
Legal form
Public limited company
Status
Active, normale toestand
Founded
17-07-1990
Entity type
Legal entity
Name clauseThe company operates under this name according to its articles.
Monstrey Projects
deed of 24-10-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, overbrenging naar om het even welke plaats in tweetalig gebied Brussel Hoofdstad of Nederlands taalgebied door eenvoudige…”
deed of 24-10-2023 (in Dutch)Registered office and establishments
Registered office
Tiensesteenweg 43, 3360 Bierbeek, Belgium
Establishment unit
Monstrey Projects, Tiensesteenweg 43, 3360 Bierbeek since 11-09-1990 · unit number 2.049.497.459
Activities
NACEBEL 202564190
Financial service activities, except insurance and pension funding main activity
68201
Renting and operating of own or leased residential real estate, excluding social housing
Codes under NACEBEL 2008
64190
Financial service activities, except insurance and pension funding main activity
68201
Real estate activities
Codes under NACEBEL 2003
65120
Invoicing and payment
VAT number
BE 0441.412.653
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of June at 18:00
deed of 24-10-2023 (in Dutch)Environmental permits
1 application in Flanders since 2023 · 1 granted
Verbouwen en/of uitbreiden met functiewijziging en met wijziging van aantal woongelegenheden
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the address
Ground area
271 m²
Building footprint
83 m²
Building volume
414 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24053B0123/00M000 | Flanders | 271 m² | 1 · 83 m² | 7.8 m · 2 |