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Complete company report
Generated 07-07-2026
Active BE 0752.749.197Public limited company

PINE PROJECTS

Leuvenstraat 3 ·2000 Antwerpen, Belgium· 5 yrs active
Sector: Real estate activities (68121)
Conclusion Checked

The computed 12-month bankruptcy probability of PINE PROJECTS is 0.8% (low). The 2025 annual accounts show negative equity (€-186k) and a net result of €-266k. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.
Key figures
Equity €-186k
Net result €-266k
Active 5 yrs
Locations 1
Snowflake analysis 5 axes · computed by Checked
Health50Profitability100Solvency64Growth32Stability94
68 / 100

Strong profile, led by profitability.

Health 50
Profitability 100
Solvency 64
Growth 32
Stability 94
Bankruptcy probability (12 mo) Checked model v1 · free
0.8% Low
0%0,5%1,5%4%10%≥25%
Young company +Lower-failure-rate sector −Annual accounts: weaker financial profile +

Statistical estimate based on public sources — not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
More than 3 years active
Founded in 2020 — past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2025 · computed
50 / 100 Fair
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative — not credit advice.
Financial overview5 NBB filings
Annual accounts filed on 31-03-2026 with the NBB · fiscal year 2025 · verkort
€-400k€-200k€0€200kOperating result 2021: €51k€51kNet result 2021: €12k€12kOperating result 2022: €268k€268kNet result 2022: €180k€180kOperating result 2023: €142k€142kNet result 2023: €92k€92kOperating result 2024: €-251k€-251kNet result 2024: €-274k€-274kOperating result 2025: €-259k€-259kNet result 2025: €-266k€-266k20212022202320242025
Operating resultNet result
EBITDA
€268k
+410.2% far above sector median
Net profit
€-266k
+2.9% far below sector median
Cash flow
€180k
+1256.0% far above sector median
Total assets
€653k
-49.7% ≈ vs sector
Equity
€-186k
— far below sector median
Working capital
€297k
-49.2% far above sector median
Income taxes
€2
— -100% vs sector
Debt
€839k
-31.1% +133% vs sector
Debt ≤ 1y
€345k
-51.0% +18% vs sector
Debt > 1y
€474k
-5.0% +30% vs sector
Current ratio
1.86
+1.6% far above sector median
Quick ratio
0.94
-32.5% far above sector median
Solvency
-28.5%
— far below sector median
Debt / equity
-4.51
— far below sector median
ROE
142.7%
— far above sector median
ROA
-40.7%
-92.9% far below sector median
Interest coverage
9.56
+531.3% -92% vs sector
Figures by fiscal year
Fiscal year2025
Revenue—
EBITDA—
Net profit€-266k
Cash flow—
Staff costs—
Income taxes€2
Dividends—
Total assets€653k
Equity€-186k
Debt€839k
of which ≤ 1y€345k
of which > 1y€474k
Working capital€297k
Employees (FTE)—
Ratios (computed)
2025
Current ratio1.86
Quick ratio0.94
Working capital ratio45.6%
Solvency-28.5%
Debt / equity-4.51
Long-term debt ratio-2.55
Interest coverage—
Gross margin—
Net margin—
ROA-40.7%
ROE142.7%
EBITDA margin—
Days sales outstanding—
Days payable outstanding—
Inventory turnover—
Days inventory (DSI)—
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2025
Balance sheet — Assets
TOTAL ASSETS 20/58€653k
Fixed assets 21/28€11k
Financial fixed assets 28€11k
Current assets 29/58€642k
Stocks & contracts in progress 3€317k
Amounts receivable within one year 40/41€53k
Cash & bank 54/58€259k
Balance sheet — Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€653k
Equity 10/15€-186k
Contributions / capital 10/11€70k
Reserves 13€7k
Accumulated profits (losses) 14€-263k
Amounts payable 17/49€839k
Amounts payable after one year 17€474k
Amounts payable within one year 42/48€345k
Trade debts payable within one year 44€274k
Income statement
Gross operating margin 9900€-256k
Operating result 9901€-259k
Financial income 75€6
Financial charges 65€6k
Result before taxes 9903€-266k
Income taxes 67/77€2
Net result for the period 9904€-266k
Result to be appropriated 9905€-266k
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Ratios computed by Checked.
Legal Structure
NACE primary Real estate activities(68121)
Legal form Public limited company(014)
Incorporation19-08-2020
StatusActive
Postal code2000
Establishment units 1 location
PINE PROJECTS
Leuvenstraat 3, 2000 AntwerpenOntwikkeling van residentiële bouwprojecten
since 20202.306.134.913
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates — not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
11811L3973/00B002 Flanders 3,727 m² 1 · 721 m² 21.3 m · 6 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data — this is not proof of ownership.
Updates 7 events

A single timeline of everything that happened to this company — publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026
31-03-2026
NBB filing Annual accounts filed
fiscal year 2025 · verkort
2025
09-10-2025
State Gazette act Registered-office change
31-07-2025
NBB filing Annual accounts filed
fiscal year 2024 · verkort
2024
06-06-2024
NBB filing Annual accounts filed
fiscal year 2023 · verkort
2023
20-07-2023
NBB filing Annual accounts filed
fiscal year 2022 · verkort
2022
25-07-2022
NBB filing Annual accounts filed
fiscal year 2021 · verkort
04-07-2022
State Gazette act Registered-office change
Belgisch Staatsblad — acts 2 acts
Address history · 2
09-10-2025
Registered-office move
04-07-2022
Registered-office move
All acts · 2 updated 9 months ago
2025
09-10-2025 Registered office moved within Antwerpen Registered-office change
  • Frankrijklei 106 - 2000 Antwerpen → Leuvenstraat 3 bus 22 2000 Antwerpen
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Leuvenstraat 3 bus 22 2000 Antwerpen",
        "city": "Antwerpen",
        "region": "vlaams_gewest",
        "street": "Leuvenstraat",
        "country": "BE",
        "postcode": "2000",
        "box_number": "22",
        "street_number": "3",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Frankrijklei 106 - 2000 Antwerpen",
        "city": "Antwerpen",
        "region": "vlaams_gewest",
        "street": "Frankrijklei",
        "country": "BE",
        "postcode": "2000",
        "box_number": null,
        "street_number": "106",
        "locality_suffix": null
      },
      "effective_date": "2025-08-01",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "immediate",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Antwerpen",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2025-10-09",
    "filing_date": "2025-09-30",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "enige_bestuurder",
    "date": "2025-09-30",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0752.749.197",
    "name_full": "PINE PROJECTS",
    "legal_form": "naamloze vennootschap",
    "_kbo_filled_from_list": true
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": null,
    "org_name": "MIMAFI NV",
    "person_name": null,
    "org_rep_person_name": "Jordi Busschop",
    "person_role_at_subject": null
  },
  "co_filed_documents": []
}
2022
04-07-2022 Registered office moved from Antwerpen to Antwepren Registered-office change
  • Edward Pecherstraat 12 Bus 201, 2000 Antwerpen → Frankrijklei 106, 2000 Antwepren
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Frankrijklei 106, 2000 Antwepren",
        "city": "Antwepren",
        "region": "vlaams_gewest",
        "street": "Frankrijklei",
        "country": "BE",
        "postcode": "2000",
        "box_number": null,
        "street_number": "106",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Edward Pecherstraat 12 Bus 201, 2000 Antwerpen",
        "city": "Antwerpen",
        "region": "vlaams_gewest",
        "street": "Edward Pecherstraat",
        "country": "BE",
        "postcode": "2000",
        "box_number": "201",
        "street_number": "12",
        "locality_suffix": null
      },
      "effective_date": "2022-05-18",
      "evidence_quote": "Uit de notulen van de Raad van Bestuur gehouden op 18/05/2022 blijkt dat het bestuursorgaan beslist heeft om de maatschappelijke zetel te verplaatsen van de vennootschap met onmiddellijke ingang van 18/05/2022 naar volgend adres:",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "immediate",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Antwerpen",
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2022-06-21",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "raad_van_bestuur",
    "date": "2022-05-18",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0752.749.197",
    "name_full": "PINE PROJECTS",
    "legal_form": "NV"
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "Bijlagen bij het Belgisch Staatsblad"
  ]
}
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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Activities
Ontwikkeling van residentiële bouwprojecten41101Ontwikkeling van residentiële bouwprojecten68121
Primary activity highlighted.
Names & trade names
Legal nameNL PINE PROJECTS
Registered office
Leuvenstraat 3 bus 22
2000 Antwerpen, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative