P&A Projects
ActiveP&A Projects has been active since 1960 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.60M and a net result of €45k. Equity is growing by ~3.3% per year across the filed fiscal years. Its solvency ranks better than 38% of 2138 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▲+14
Solvency40▼-52
Growth52=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80k at 30 days acceptable
Liquidity short (current ratio 0.9 against 2.91 in 2024), and 72.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
27.4%
Return on assets
0.8%
Age of the figures
8 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 05-06-2026, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
56 d early
2024
45 d early
2023
43 d early
2022
45 d early
2021
26 d early
2020
61 d early
2019
53 d early
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.60M▼ 32.1%
2024 · €2.36M
2018: €1.33M
2019: €1.33M
2020: €1.35M
2021: €1.07M
2022: €1.04M
2023: €1.89M
2024: €2.36M
2018 → 2025
Total assets
€5.85M▲ 16.3%
2024 · €5.03M
2018: €2.14M
2019: €2.33M
2020: €2.32M
2021: €1.40M
2022: €1.41M
2023: €2.32M
2024: €5.03M
2018 → 2025
Net result
€45k
2024 · €-63k
2018: €200k
2019: €289k
2020: €289k
2021: €90k
2022: €-30k
2023: €-1k
2024: €-63k
2018 → 2025
Working capital
€-196k
2024 · €1.01M
2018: €630k
2019: €920k
2020: €920k
2021: €692k
2022: €653k
2023: €433k
2024: €1.01M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.07M-€1.04M▼ 2.8%€1.89M▲ 82.7%€2.36M▲ 24.7%€1.60M▼ 32.1%
Operating result€131k-€-25k€-10k▲ 61.0%€-7k▲ 28.2%€157k
Net result€90k-€-30k€-1k▲ 95.9%€-63k▼ 4,955%€45k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €157k after a loss of €7k in 2024, the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.85M
Fixed assets
€4.05M▲ 16.2%
Current assets
€1.80M▲ 16.7%
Equity and liabilities €5.85M
Equity
€1.60M▼ 32.1%
Debt
€4.25M▲ 59.1%
The debt ratio rises from 53.1% to 72.6%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€261k▲
2024 · €53k
Cash flow
€149k▲
2024 · €-3k
Solvency
27.4%▼
2024 · 46.9%
Current ratio
0.90▼
2024 · 2.91
Quick ratio
0.65▼
2024 · 1.93
Debt / equity
2.65▲
2024 · 1.13
ROE
2.8%▲
2024 · -2.7%
ROA
0.8%▲
2024 · -1.2%
Interest coverage
1.84▲
2024 · 0.77
Debt
€4.25M▲
2024 · €2.67M
Debt ≤ 1 year
€2.00M▲
2024 · €530k
Debt > 1 year
€2.18M▲
2024 · €2.11M
Income taxes
€12k▲
2024 · €1k
Staff costs
€51k▲
2024 · €49k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.03M€5.85M▲
Fixed assets21/28€3.48M€4.05M▲
Intangible fixed assets21€17k€15k▼
Tangible fixed assets22/27€3.22M€3.79M▲
Land and buildings22€3.07M€3.45M▲
Plant, machinery and equipment23€6k€7k▲
Furniture and vehicles24€76k€180k▲
Other tangible fixed assets26€69k€147k▲
Financial fixed assets28€244k€246k▲
Current assets29/58€1.54M€1.80M▲
Amounts receivable after more than one year29€205k€235k▲
Other amounts receivable291€205k€235k▲
Stocks and contracts in progress3€523k€512k▼
Stocks30/36€191k€146k▼
Contracts in progress37€331k€365k▲
Amounts receivable within one year40/41€492k€808k▲
Trade receivables40€99k€313k▲
Other amounts receivable41€392k€495k▲
Cash at bank and in hand54/58€274k€197k▼
Deferred charges and accrued income490/1€51k€51k=
Equity and liabilities
Total equity and liabilities10/49€5.03M€5.85M▲
Equity10/15€2.36M€1.60M▼
Contributions10/11€615k€615k=
Revaluation surpluses12€858k€858k=
Reserves13€968k€166k▼
Tax-exempt reserves132€198€198=
Distributable reserves133€968k€165k▼
Profit (loss) carried forward14€-81k€-36k▲
Amounts payable17/49€2.67M€4.25M▲
Amounts payable after more than one year17€2.11M€2.18M▲
Financial debts170/4€1.01M€1.02M▲
Other amounts payable178/9€1.10M€1.16M▲
Amounts payable within one year42/48€530k€2.00M▲
Current portion of amounts payable after more than one year42€105k€366k▲
Financial debts43-€180k
Credit institutions430/8-€180k
Trade debts44€99k€136k▲
Suppliers440/4€99k€136k▲
Advances received on contracts in progress46€31k€90k▲
Taxes, remuneration and social security45€17k€68k▲
Taxes450/3€4k€51k▲
Remuneration and social security454/9€14k€16k▲
Other amounts payable47/48€278k€1.16M▲
Accrued charges and deferred income492/3€29k€72k▲
Income statement
Code20242025
Remuneration, social security and pensions62€49k€51k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€60k€104k▲
Other operating charges640/8€11k€12k▲
Gross operating margin9900€113k€324k▲
Operating profit (loss)9901€-7k€157k▲
Financial income75/76B€14k€41k▲
Recurring financial income75€14k€41k▲
Financial charges65/66B€69k€142k▲
Recurring financial charges65€69k€142k▲
Profit (loss) for the period before taxes9903€-61k€56k▲
Income taxes67/77€1k€12k▲
Profit (loss) for the period9904€-63k€45k▲
Profit (loss) for the period to be appropriated9905€-63k€45k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-81k€-36k▲
Profit (loss) brought forward from the previous period14P€-18k€-81k▼
Transfer from equity791/2-€803k
Profit to be distributed694/7-€803k
Return on contributions (dividend)694-€803k
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
State Gazette act
Registered officeBoard meeting · Registered-office move2 facts ▸
State Gazette act
Registered office
Board meeting · Registered-office move2 facts ▸
- Board meeting, 20/04/2026
- Registered-office move, Molenstraat 21, 9991 Maldegem
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €45k
Net result €45k after 3 loss-making years.
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-63k
Net result drops to €-63k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €2MEq €2.36M ▲24.7%
Equity rises from €1.89M to €2.36M.
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity triplescurrent ratio 5.13
Current ratio from 2.04 to 5.13; short-term debt falls from €886k to €168k.
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Maldegem · 1 establishment unit since 1960
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Molenstraat 219991 MaldegemGround area
2,852 m²
Building footprint
239 m²
Volume, LiDAR
1,226 m³
Parcel 43001B0125/00R000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
P&A Projects
since 19602.004.968.620
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43001B0125/00R000 | Flanders | 2,852 m² | 1 · 239 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 29,531 companies in sector 41001 we hold annual accounts for 15,863. 4,712 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-03-1960
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.