PB PROJECTS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 11 filings
Turnover
≈ €100,000
Estimated: probably between €91,000 and €140,000
Total assets
€2.2m▲ 5.6%
2024 · €2.0m
Net result
€16,812▼ 78.2%
2024 · €76,954
Working capital
€89,351▼ 1.5%
2024 · €90,745
In the rankings
#4 company by equity in Sint-Truiden, Telecoms and IT sector#5 company by total assets in Sint-Truiden, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€37,362
▼ 70.0%
2025
20182025
Net result
€16,812
▼ 78.2%
2025
middle half of the sector
20182025
Equity
€2.0m
▲ 0.9%
2025
highest quarter of the sector
20182025
Total assets
€2.2m
▲ 5.6%
2025
highest quarter of the sector
20182025
Debt
€198,367
▲ 95.8%
2025
20182025
Working capital
€89,351
▼ 1.5%
2025
middle half of the sector
20182025
Solvency
90.8%
▼ 4.2pp
2025
highest quarter of the sector
20182025
Current ratio
1.65
▼ 0.55
2025
middle half of the sector
20182025
Return on assets (ROA)
0.8%
▼ 3.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.01m▼ 59.5%€0.006m▼ 41.1%€0.01m▲ 100%€0.02m▲ 44.8%€0.03m▲ 82.0%€0.1m▲ 274%€0.04m▼ 70.0%
Net result€0.02m-€0.005m▼ 67.9%€0.001mbelow the sector's middle half▼ 75.1%€0.007mwithin the sector's middle half▲ 398%€0.01mwithin the sector's middle half▲ 70.9%€0.02mwithin the sector's middle half▲ 72.5%€0.08mabove the sector's middle half▲ 287%€0.02mwithin the sector's middle half▼ 78.2%
Equity€0.06m-€0.04m▼ 29.7%€0.04mwithin the sector's middle half▲ 3.1%€0.05mwithin the sector's middle half▲ 15.1%€0.04mwithin the sector's middle half▼ 21.4%€0.06mwithin the sector's middle half▲ 49.3%€1.9mabove the sector's middle half▲ 32×€2.0mabove the sector's middle half▲ 0.9%
Total assets€0.1m-€0.08m▼ 29.4%€0.08mwithin the sector's middle half▲ 3.6%€0.09mwithin the sector's middle half▲ 12.0%€0.1mwithin the sector's middle half▲ 9.9%€0.2mwithin the sector's middle half▲ 71.4%€2.0mabove the sector's middle half▲ 12×€2.2mabove the sector's middle half▲ 5.6%
Debt€0.05m-€0.03m▼ 29.0%€0.03m▲ 4.2%€0.04m▲ 7.8%€0.06m▲ 54.1%€0.1m▲ 87.4%€0.1m▼ 3.2%€0.2m▲ 95.8%
Working capital€0.05m-€0.03m▼ 41.7%€0.04mwithin the sector's middle half▲ 33.2%€0.04mwithin the sector's middle half▼ 0.3%€0.03mwithin the sector's middle half▼ 30.2%€0.03mwithin the sector's middle half▲ 4.9%€0.09mwithin the sector's middle half▲ 225%€0.09mwithin the sector's middle half▼ 1.5%
Solvency57.5%-57.2%▼ 0.2pp57.0%within the sector's middle half▼ 0.2pp58.6%within the sector's middle half▲ 1.6pp41.9%within the sector's middle half▼ 16.7pp36.5%within the sector's middle half▼ 5.4pp95.0%above the sector's middle half▲ 58.5pp90.8%above the sector's middle half▼ 4.2pp
Current ratio2.08-1.89▼ 0.192.34within the sector's middle half▲ 0.452.10within the sector's middle half▼ 0.241.61within the sector's middle half▼ 0.481.42within the sector's middle half▼ 0.202.20within the sector's middle half▲ 0.781.65within the sector's middle half▼ 0.55
Return on assets (ROA)15.8%-7.2%▼ 8.6pp1.7%below the sector's middle half▼ 5.5pp7.7%within the sector's middle half▲ 6.0pp12.0%within the sector's middle half▲ 4.3pp12.1%within the sector's middle half▲ 0.1pp3.8%below the sector's middle half▼ 8.3pp0.8%below the sector's middle half▼ 3.0pp
Staff (FTE)0.6-1▲ 66.7%1within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 70% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.9m ▲ 2.8%
Current assets
€227,483 ▲ 36.7%
Equity and liabilities €2.2m
Equity
€2.0m ▲ 0.9%
Debt
€198,367 ▲ 95.8%
Debt's share of the balance-sheet total rises from 5.0% to 9.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€50,611▼
2024 · €138,555
Cash flow
€30,061▼
2024 · €91,115
Debt to equity
0.10▲
2024 · 0.05
ROE
0.9%▼
2024 · 4.0%
Interest coverage
7.79▼
2024 · 36.35
Debt ≤ 1 year
€138,132▲
2024 · €75,686
Debt > 1 year
€60,005▲
2024 · €25,619
Income taxes
€16,242▼
2024 · €44,531
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €14,476 | €54,025 | €16,291 | €84,865 |
| Financial fixed assets | - | - | €1.8m | - |
| Depreciation and write-downs of the year | €2,442 | €10,436 | €14,160 | €13,249 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €7,580 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,773 | €5,847 | €3,084 | €3,105 | €2,442 | €10,436 | €14,160 | €13,249 | ▼ 6.4% |
| Other operating charges640/8 | - | - | - | - | €3,275 | €6,832 | €2,210 | €3,234 | ▲ 46.3% |
| Gross operating margin9900 | €58,480 | €54,431 | €41,547 | €18,194 | €23,982 | €50,509 | €140,765 | €53,844 | ▼ 61.7% |
| Operating profit (loss)9901 | €26,442 | €10,698 | €6,302 | €12,617 | €18,265 | €33,241 | €124,395 | €37,362 | ▼ 70.0% |
| Financial income75/76B | - | - | - | - | €52 | - | €903 | €2,187 | ▲ 142% |
| Recurring financial income75 | €0 | €437 | €542 | - | €52 | - | €903 | €2,187 | ▲ 142% |
| Financial charges65/66B | - | - | - | - | €620 | €4,575 | €3,812 | €6,495 | ▲ 70.4% |
| Recurring financial charges65 | €1,101 | €878 | €925 | €631 | €620 | €4,575 | €3,812 | €6,495 | ▲ 70.4% |
| Profit (loss) for the period before taxes9903 | €25,341 | €10,257 | €5,918 | €11,986 | €17,697 | €28,667 | €121,485 | €33,054 | ▼ 72.8% |
| Income taxes67/77 | €8,459 | €4,832 | €4,565 | €5,249 | €6,186 | €8,806 | €44,531 | €16,242 | ▼ 63.5% |
| Profit (loss) for the period9904 | €16,882 | €5,425 | €1,353 | €6,737 | €11,511 | €19,861 | €76,954 | €16,812 | ▼ 78.2% |
| Profit (loss) for the period to be appropriated9905 | €16,882 | €5,425 | €1,353 | €6,737 | €11,511 | €19,861 | €76,954 | €16,812 | ▼ 78.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.1m | €0.08m | €0.08m | €0.09m | €0.1m | €0.2m | €2.0m | €2.2m | ▲ 5.6% |
| Fixed assets21/28 | €0.01m | €0.01m | €0.01m | €0.01m | €0.03m | €0.07m | €1.9m | €1.9m | ▲ 2.8% |
| Tangible fixed assets22/27 | €0.01m | €0.01m | €0.01m | €0.01m | €0.03m | €0.07m | €0.07m | €0.1m | ▲ 73.4% |
| Land and buildings22 | - | - | - | - | - | - | - | €0.07m | - |
| Plant, machinery and equipment23 | - | - | - | - | €0.002m | €0.003m | €0.009m | €0.007m | ▼ 22.1% |
| Furniture and vehicles24 | - | - | - | - | €0.02m | €0.07m | €0.06m | €0.04m | ▼ 29.1% |
| Financial fixed assets28 | - | - | - | - | - | - | €1.8m | €1.8m | = |
| Current assets29/58 | €0.09m | €0.06m | €0.07m | €0.07m | €0.07m | €0.09m | €0.2m | €0.2m | ▲ 36.7% |
| Amounts receivable within one year40/41 | €0.06m | €0.03m | €0.04m | €0.02m | €0.03m | €0.08m | €0.06m | €0.2m | ▲ 158% |
| Trade receivables40 | - | - | - | - | €0.02m | €0.08m | €0.06m | €0.08m | ▲ 23.0% |
| Other amounts receivable41 | - | - | - | - | €0.005m | - | €33 | €0.09m | ▲ 2,562× |
| Cash at bank and in hand54/58 | €0.03m | €0.02m | €0.02m | €0.05m | €0.04m | €0.008m | €0.1m | €0.05m | ▼ 49.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.003m | €0.005m | €0.002m | €0.01m | ▲ 519% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.1m | €0.08m | €0.08m | €0.09m | €0.1m | €0.2m | €2.0m | €2.2m | ▲ 5.6% |
| Equity10/15 | €0.06m | €0.04m | €0.04m | €0.05m | €0.04m | €0.06m | €1.9m | €2.0m | ▲ 0.9% |
| Contributions10/11 | €0.006m | €0.02m | - | - | €0.02m | €0.02m | €1.8m | €1.8m | = |
| Reserves13 | €0.06m | €0.02m | €0.03m | €0.03m | €0.02m | €0.04m | €0.1m | €0.1m | ▲ 14.2% |
| Non-distributable reserves130/1 | - | - | - | - | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €0.02m | €0.04m | €0.1m | €0.1m | ▲ 14.2% |
| Amounts payable17/49 | €0.05m | €0.03m | €0.03m | €0.04m | €0.06m | €0.1m | €0.1m | €0.2m | ▲ 95.8% |
| Amounts payable after more than one year17 | - | - | €0.005m | €0.002m | €0.01m | €0.04m | €0.03m | €0.06m | ▲ 134% |
| Financial debts170/4 | - | - | - | - | €0.01m | €0.04m | €0.03m | €0.06m | ▲ 134% |
| Amounts payable within one year42/48 | €0.05m | €0.03m | €0.03m | €0.03m | €0.04m | €0.07m | €0.08m | €0.1m | ▲ 82.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.002m | €0.01m | €0.01m | €0.03m | ▲ 187% |
| Trade debts44 | €0.02m | €0.008m | €0.003m | €0.004m | €0.02m | €0.01m | €0.003m | €0.03m | ▲ 11× |
| Suppliers440/4 | - | - | - | - | €0.02m | €0.01m | €0.003m | €0.03m | ▲ 11× |
| Taxes, remuneration and social security45 | - | - | - | - | €0.03m | €0.04m | €0.06m | €0.07m | ▲ 23.7% |
| Taxes450/3 | - | - | - | - | €0.02m | €0.03m | €0.06m | €0.07m | ▲ 16.1% |
| Remuneration and social security454/9 | - | - | - | - | €0.005m | €0.01m | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | - | - | €0.006m | €0.005m | €0.004m | ▼ 21.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €230 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | €0.005m | €0.001m | €0.007m | €0.01m | €0.02m | €0.08m | €0.02m | ▼ 78.2% |
| + Depreciation and write-downs630 | €0.006m | €0.006m | €0.003m | €0.003m | €0.002m | €0.01m | €0.01m | €0.01m | ▼ 6.4% |
| Operating cash flow (approximation) | €0.02m | €0.01m | €0.004m | €0.01m | €0.01m | €0.03m | €0.09m | €0.03m | ▼ 67.0% |
| Investment in fixed assets (approximation) | - | -€0.008m | €0 | -€0.006m | -€0.01m | -€0.05m | -€1.8m | -€0.07m | ▲ 96.4% |
| Change in cash | - | -€0.01m | €0.002m | €0.03m | -€0.009m | -€0.03m | €0.09m | -€0.05m | - |
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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00327256 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00221381 | |
| 31-12-2023 | micro format | 02-05-2024 | 2024-00078853 | |
| 31-12-2022 | micro format | 29-03-2023 | 2023-00047652 | |
| 31-12-2021 | micro format | 24-03-2022 | 2022-08400139 | |
| 31-12-2020 | micro format | 29-03-2021 | 2021-08700022 | |
| 31-12-2019 | micro format | 13-07-2020 | 2020-28800175 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-40700038 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-41400060 | |
| 31-12-2016 | micro format | 01-08-2017 | 2017-40100399 |