Equity
-€122,326
Debts exceed assets in financial year 2025.
PdN Projects
Lifetime
8 annual accounts with figures on one time axispeak -€853 (2018)
-€58,271▼ €23,970
lowest -€69,376 (2025)
-€69,376▼ €34,540
peak €4,868 (2018)
-€122,326▼ €69,376
€677,376▲ 285%
Board5 names since 2021
3 directorsNEMETH Balazs and 2 others
Documentsfilings and deeds
18-08-202618 days late
2025micro format
Gross margin from -€34,301 to -€58,271Loss of €69,376Equity from -€52,950 to -€122,326Debts from €175,730 to €677,376
Key points
from the 2025 annual accountsLosses
-€128,525 in eight years
Every financial year from 2018 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€677,376 122% of the balance sheet
2025 accounts filed 18 days after the deadlineTurnover not published (micro format)
Checked score
48
Fair
Financially stronger than 6% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.1% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,626 companies (NACE 68, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.0%
01-2025: 2.0%● unchanged vs 12-2024
02-2025: 2.0%● unchanged vs 01-2025
03-2025: 1.8%▼ -0.2 percentage points vs 02-2025
04-2025: 1.8%● unchanged vs 03-2025
05-2025: 1.8%● unchanged vs 04-2025
06-2025: 1.7%▼ -0.1 percentage points vs 05-2025lowest value
07-2025: 1.8%▲ +0.1 percentage points vs 06-2025
08-2025: 2.5%▲ +0.7 percentage points vs 07-2025
09-2025: 2.9%▲ +0.4 percentage points vs 08-2025
10-2025: 2.9%● unchanged vs 09-2025
11-2025: 2.9%● unchanged vs 10-2025
12-2025: 3.0%▲ +0.1 percentage points vs 11-2025
01-2026: 3.0%● unchanged vs 12-2025
02-2026: 3.0%● unchanged vs 01-2026
03-2026: 2.9%▼ -0.1 percentage points vs 02-2026
04-2026: 2.9%● unchanged vs 03-2026
05-2026: 2.8%▼ -0.1 percentage points vs 04-2026
06-2026: 2.7%▼ -0.1 percentage points vs 05-2026
07-2026: 2.8%▲ +0.1 percentage points vs 06-2026
08-2026: 3.6%▲ +0.8 percentage points vs 07-2026highest value
09-2026: 3.1%▼ -0.5 percentage points vs 08-2026
10-2026: 3.1%● unchanged vs 09-2026
11-2026: 3.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.82
Negative equity -€122,326
No registered site in the KBO
lowers risk
Size: total assets €555,050
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 68, micro). It does better than 10% of them on solvency, 0% on liquidity, 11% on profitability and 4% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 562 companies had the same profile as PdN Projects has now. Each dot stands for 2 companies, two years later.
86.7%
were still trading
4.8%
stopped another way
7.1%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PdN Projects itself: 3.1% 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 562 companies, not a prediction for PdN 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.82 (0.7 in 2024), below 1. Short-term debt is 122% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€122,326
raises risk · 2025 accounts filed 18 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 8 filingsDeviation from the deadline
2025
18 days late
2024
20 days late
2023
on the day
2022
18 days late
2021
30 days late
2020
61 days late
2019
5 days late
← 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 22 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 18 August (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
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
Recent changes
Environmental permit granted
Bouwen of herbouwen · Leuven
Environmental permit granted
Bouwen of herbouwen · Holsbeek
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0678767495
Registered office moved from Brussels to Lubbeek
New registered office: Uilekot 5, 3210 Lubbeek · Previous registered office: Lollepotstraat 1 bus 2, 1000 Brussel · Resignations: JANSSENS Wilfried (manager) and MOENS Kim (manager) · General meeting of 20-08-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PdN Projects Lubbeek | €555,050 | -€58,271 | -22.0% | - |
| NiA Wemmel | €506,634 | -€865 | 21.1% | - |
| GULDEMONT REAL ESTATE Roosdaal | €437,311 | -€66,498 | -167.1% | 0 |
| LA BERGERIE DE L'ABBAYE Liège | €604,317 | -€1,835 | -12.6% | - |
| Renaud de Menten Villers-le-Bouillet | €591,096 | -€6,846 | 24.0% | - |
| Blue Mobility Hulshout | €665,403 | -€545 | 36.4% | - |
| R.E.D. Halle | €690,262 | -€35,980 | -26.9% | - |
These companies have the same main activity as PdN Projects: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €437,000 and €690,000, founded between 2016 and 2019.
Official details
Source: KBO- Status
- Active since 20-07-2017Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 2 others
- Financial year end
- 31 December
- Peppol
- Reachable since 18-04-2025
Insights on PdN Projects
PdN Projects files the micro format. That format states no turnover. The gross margin fell from -€853 in 2018 to -€58,271 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PdN Projects
- What is the company number of PdN Projects?
- The company number of PdN Projects is 0678.767.495. The VAT number is the same number with BE in front: BE 0678.767.495.
- Where is PdN Projects based?
- The registered office is at Uilekot 5, 3210 Lubbeek.Company details
- What does PdN Projects do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of PdN Projects?
- PdN Projects is a private limited company (BV).
- When was PdN Projects founded?
- PdN Projects was founded on 20-07-2017.
- Is PdN Projects still active?
- Yes, PdN Projects is an active enterprise in the KBO register.
- What is the turnover of PdN Projects?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is PdN Projects profitable?
- In financial year 2025, PdN Projects made a loss of €69,376.
- Where can I find the annual accounts of PdN Projects?
- PdN Projects filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PdN Projects due?
- PdN Projects must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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