Pluche
ActiveSummary
The annual accounts of Pluche for fiscal year 2025 show a net loss of 65% of total assets. The 2025 annual accounts show equity of €2,797 and a net result of -€13,928. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 31896 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2023
Profitability0▼-65
Solvency38▲+38
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.9 against 3.06 in 2023; short-term debt: 52.6% and cash: 34.2% of total assets), but 87% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13%
Return on assets
-64.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 31896 sector peers (2025).
NBB · sector comparisonPosition among 31896 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
31 d late
2023
65 d late
2022
67 d late
2021
86 d late
2020
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 56 days after the deadline; the sector median for financial year 2023 is 7 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€2,797
2023 · -€31,453
Total assets
€21,504▼ 69.9%
2023 · €71,525
Net result
-€13,928
2023 · €5,480
Working capital
€10,193▼ 78.5%
2023 · €47,361
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232025
Operating result€29,205--€39,931-€19,279▲ 51.7%€6,986-€12,303-
Net result€20,155--€39,672-€19,916▲ 49.8%€5,480-€13,928-
Equity€22,655--€17,017-€36,933▼ 117%-€31,453▲ 14.8%€2,797-
Total assets€39,358-€51,051▲ 29.7%€64,685▲ 26.7%€71,525▲ 10.6%€21,504-
Debt€16,703-€68,068▲ 308%€101,618▲ 49.3%€102,978▲ 1.3%€18,707-
Working capital€16,969-€28,917▲ 70.4%€40,620▲ 40.5%€47,361▲ 16.6%€10,193-
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is -€12,303 in 2025, compared with €6,986 in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
Equity and liabilities €21,504
Equity
€2,797
Debt
€18,707
Debt finances 87.0% of the balance-sheet total.
Key figures and ratios
EBITDA
-€12,055▼
2023 · €8,247
Cash flow
-€13,679▼
2023 · €6,740
Current ratio
1.90▼
2023 · 3.06
Debt to equity
6.69▲
2023 · -3.27
ROE
-497.9%
ROA
-64.8%▼
2023 · 7.7%
Interest coverage
-7.42▼
2023 · 4.43
Debt ≤ 1 year
€11,312▼
2023 · €22,978
Debt > 1 year
€0▼
2023 · €80,000
Income taxes
€0▼
2023 · €409
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,136 companies that looked in July 2024 the way this one looks now, 5.9% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
5.9%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 1.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,136 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €6,437 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,719 | €1,620 | €1,620 | €1,260 | €249 | - |
| Other operating charges640/8 | - | €1,156 | €382 | €2,740 | €1,856 | - |
| Non-recurring operating charges66A | - | - | - | €750 | - | - |
| Gross operating margin9900 | €34,146 | -€37,156 | -€17,278 | €11,736 | -€10,199 | - |
| Operating profit (loss)9901 | €29,205 | -€39,931 | -€19,279 | €6,986 | -€12,303 | - |
| Financial income75/76B | - | €665 | €597 | €766 | €0 | - |
| Recurring financial income75 | €628 | €665 | €597 | €766 | €0 | - |
| Financial charges65/66B | - | €406 | €1,031 | €1,864 | €1,625 | - |
| Recurring financial charges65 | €1,904 | €406 | €1,031 | €1,864 | €1,625 | - |
| Profit (loss) for the period before taxes9903 | €27,930 | -€39,672 | -€19,713 | €5,889 | -€13,928 | - |
| Income taxes67/77 | €7,775 | €0 | €204 | €409 | €0 | - |
| Profit (loss) for the period9904 | €20,155 | -€39,672 | -€19,916 | €5,480 | -€13,928 | - |
| Profit (loss) for the period to be appropriated9905 | €20,155 | -€39,672 | -€19,916 | €5,480 | -€13,928 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €39,358 | €51,051 | €64,685 | €71,525 | €21,504 | - |
| Fixed assets21/28 | €5,686 | €4,066 | €2,447 | €1,186 | €0 | - |
| Tangible fixed assets22/27 | €5,686 | €4,066 | €2,447 | €1,186 | €0 | - |
| Furniture and vehicles24 | - | €4,066 | €2,447 | €1,186 | €0 | - |
| Current assets29/58 | €33,672 | €46,985 | €62,238 | €70,338 | €21,504 | - |
| Amounts receivable after more than one year29 | - | €25,000 | €20,700 | €20,700 | €0 | - |
| Trade receivables290 | - | €25,000 | €0 | - | - | - |
| Other amounts receivable291 | - | - | €20,700 | €20,700 | €0 | - |
| Stocks and contracts in progress3 | - | €12,983 | €22,363 | €32,972 | €0 | - |
| Stocks30/36 | - | €12,983 | €22,363 | €32,972 | €0 | - |
| Amounts receivable within one year40/41 | €2,623 | €6,880 | €9,479 | €9,931 | €14,159 | - |
| Trade receivables40 | - | - | €7,033 | €9,863 | €10,118 | - |
| Other amounts receivable41 | - | €6,880 | €2,446 | €68 | €4,040 | - |
| Cash at bank and in hand54/58 | €4,800 | €835 | €2,164 | €3,453 | €7,345 | - |
| Deferred charges and accrued income490/1 | - | €1,288 | €7,532 | €3,282 | €0 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €39,358 | €51,051 | €64,685 | €71,525 | €21,504 | - |
| Equity10/15 | €22,655 | -€17,017 | -€36,933 | -€31,453 | €2,797 | - |
| Contributions10/11 | - | €2,500 | €2,500 | €2,500 | €2,500 | - |
| Reserves13 | €20,155 | €0 | - | - | - | - |
| Distributable reserves133 | - | €0 | - | - | - | - |
| Profit (loss) carried forward14 | - | -€19,517 | -€39,433 | -€33,953 | €297 | - |
| Amounts payable17/49 | €16,703 | €68,068 | €101,618 | €102,978 | €18,707 | - |
| Amounts payable after more than one year17 | - | €50,000 | €80,000 | €80,000 | €0 | - |
| Financial debts170/4 | - | €50,000 | €80,000 | €80,000 | €0 | - |
| Amounts payable within one year42/48 | €16,703 | €18,068 | €21,618 | €22,978 | €11,312 | - |
| Financial debts43 | - | €0 | €4,040 | €935 | €0 | - |
| Credit institutions430/8 | - | €0 | €4,040 | €935 | €0 | - |
| Trade debts44 | €4,183 | €10,293 | €7,088 | €5,654 | €5,671 | - |
| Suppliers440/4 | - | €10,293 | €7,088 | €5,654 | €5,671 | - |
| Advances received on contracts in progress46 | - | - | €7,682 | €7,682 | - | - |
| Taxes, remuneration and social security45 | - | €7,775 | €2,730 | €6,720 | €5,640 | - |
| Taxes450/3 | - | €7,775 | €2,730 | €6,720 | €5,640 | - |
| Other amounts payable47/48 | - | - | €77 | €1,986 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €7,395 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,155 | -€39,672 | -€19,916 | €5,480 | -€13,928 | - |
| + Depreciation and write-downs630 | €2,719 | €1,620 | €1,620 | €1,260 | €249 | - |
| Operating cash flow (approximation) | €22,874 | -€38,052 | -€18,297 | €6,740 | -€13,679 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | -€3,966 | €1,330 | €1,289 | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
31-12
Financial
Back to profitnet €5,480
Net result €5,480 after 2 loss-making years.
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 86 days late
2021
31-12
Financial
Weakest financial yearnet -€39,672
Net result drops to -€39,672, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mortsel · 1 establishment unit since 2019
Ground area
460 m²
Building footprint
113 m²
Volume, LiDAR
730 m³
Parcel 11029A0267/00G004, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Pluche
since 20192.291.109.217
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11029A0267/00G004 | Flanders | 460 m² | 1 · 113 m² | 10.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 299 EUR awarded · 299 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 299 EUR | 299 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 10,721 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-06-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
Website
www.projectalpha.be
E-mail
nico@projectalpha.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0728856218
Also
9925:BE0728856218
Registered
24-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.