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PPEM PROJECT MANAGEMENT

Active
Public limited companyfounded 20178 yrs activeWillemsstraat (Jan Frans) 202, 1800 Vilvoorde, BelgiumKBO/BCE: BE 0683.847.030
Summary

PPEM PROJECT MANAGEMENT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€24,323) and a net result of -€6,521. Equity is shrinking by ~47.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.4% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability33▲+8
Solvency19▼-1
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 9.99 against 9.69 in 2024; short-term debt: 9.5% and cash: 0% of total assets), but equity is negative.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
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 2025
Solvency, return and age of the figures
Solvency
-6.2%
Return on assets
-1.7%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€24,323
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 · 8 filings
Deviation from the deadline
2025
31 d late
2024
29 d late
2023
85 d late
2022
32 d late
2021
31 d late
2020
110 d late
2019
30 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 41 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

PPEM PROJECT MANAGEMENT was incorporated on 30 October 2017.1 Total assets rose from EUR 72,079 in 2018 to EUR 389,979 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Source amounts without an identifiable currency are assumed to be EUR.

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€6,521▲ 64.3%
2024 · -€18,293
Working capital
€332,961▲ 3.9%
2024 · €320,391
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result-€7,725▲ 52.6%-€4,131▲ 46.5%-€2,731▲ 33.9%-€6,239▼ 128%-€6,940▼ 11.2%
Net result-€7,964▲ 51.3%-€4,374▲ 45.1%-€3,004▲ 31.3%-€18,293▼ 509%-€6,521▲ 64.3%
Equity€7,870▼ 75.6%€3,496▼ 55.6%€492▼ 85.9%-€17,801-€24,323▼ 36.6%
Total assets€43,715▼ 16.3%€65,505▲ 49.8%€65,614▲ 0.2%€377,261▲ 475%€389,979▲ 3.4%
Debt€35,845▲ 34.3%€62,009▲ 73.0%€65,122▲ 5.0%€395,062▲ 507%€414,301▲ 4.9%
Working capital€10,501▼ 59.4%€4,466▼ 57.5%€1,601▼ 64.1%€320,391▲ 19,906%€332,961▲ 3.9%
Staff (FTE)00
Result per fiscal year
Operating resultNet result
-€20,000-€15,000-€10,000-€5,000€0Operating result 2021: -€7,725-€7,725Net result 2021: -€7,964-€7,964Operating result 2022: -€4,131-€4,131Net result 2022: -€4,374-€4,374Operating result 2023: -€2,731-€2,731Net result 2023: -€3,004-€3,004Operating result 2024: -€6,239-€6,239Net result 2024: -€18,293-€18,293Operating result 2025: -€6,940-€6,940Net result 2025: -€6,521-€6,52120212022202320242025-€20,000-€15,000-€10,000-€5,000€0Operating result 2023: -€2,731-€2,730Net result 2023: -€3,004-€3,000Operating result 2024: -€6,239-€6,240Net result 2024: -€18,293-€18,300Operating result 2025: -€6,940-€6,940Net result 2025: -€6,521-€6,520202320242025
The operating result stays negative: a loss of €6,940 in 2025 against €6,239 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €389,979
Fixed assets €20,000 =
Current assets €369,979 ▲ 3.6%
Equity and liabilities
Equity-€24,323
Debt€414,301
Equity is negative: debt (€414,301) exceeds the balance-sheet total (€389,979).
Key figures and ratios
2025 value · change against 2024
Solvency
-6.2%▼
2024 · -4.7%
Current ratio
9.99▲
2024 · 9.69
Quick ratio
9.23▲
2024 · 8.82
ROA
-1.7%▲
2024 · -4.8%
Debt ≤ 1 year
€37,018▲
2024 · €36,870
Debt > 1 year
€377,283▲
2024 · €358,192
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 38 lines
Balance sheet Code20242025
Assets
Total assets20/58€377,261€389,979▲
Fixed assets21/28€20,000€20,000=
Financial fixed assets28€20,000€20,000=
Current assets29/58€357,261€369,979▲
Stocks and contracts in progress3€31,932€28,384▼
Stocks30/36€31,932€28,384▼
Amounts receivable within one year40/41€325,275€341,539▲
Other amounts receivable41€325,275€341,539▲
Cash at bank and in hand54/58€53€56▲
Equity and liabilities
Total equity and liabilities10/49€377,261€389,979▲
Equity10/15-€17,801-€24,323▼
Contributions10/11€61,500€61,500=
Capital10€61,500€61,500=
Issued capital100€61,500€61,500=
Profit (loss) carried forward14-€79,301-€85,823▼
Amounts payable17/49€395,062€414,301▲
Amounts payable after more than one year17€358,192€377,283▲
Financial debts170/4€358,192€377,283▲
Amounts payable within one year42/48€36,870€37,018▲
Trade debts44€1,949€700▼
Suppliers440/4€1,949€700▼
Other amounts payable47/48€34,921€36,318▲
Accrued charges and deferred income492/3€0-
Income statement Code20242025
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3,548€3,548=
Other operating charges640/8€387€408▲
Gross operating margin9900-€2,303-€2,984▼
Operating profit (loss)9901-€6,239-€6,940▼
Financial income75/76B€4,675€16,264▲
Recurring financial income75€4,675€16,264▲
Financial charges65/66B€16,729€15,845▼
Recurring financial charges65€6,729€15,845▲
Non-recurring financial charges66B€10,000€0▼
Profit (loss) for the period before taxes9903-€18,293-€6,521▲
Profit (loss) for the period9904-€18,293-€6,521▲
Profit (loss) for the period to be appropriated9905-€18,293-€6,521▲
Appropriation of the result
Profit (loss) to be appropriated9906-€79,301-€85,823▼
Profit (loss) brought forward from the previous period14P-€61,008-€79,301▼
Social balance
Average headcount (FTE)90870.00.0=

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€3,548€3,548=
Other operating charges640/8€873€1,046€509€387€408▲ 5.4%
Gross operating margin9900-€6,853-€3,085-€2,222-€2,303-€2,984▼ 29.5%
Operating profit (loss)9901-€7,725-€4,131-€2,731-€6,239-€6,940▼ 11.2%
Financial income75/76B€0--€4,675€16,264▲ 248%
Recurring financial income75€0--€4,675€16,264▲ 248%
Financial charges65/66B€238€243€273€16,729€15,845▼ 5.3%
Recurring financial charges65€238€243€273€6,729€15,845▲ 135%
Non-recurring financial charges66B---€10,000€0▼ 100%
Profit (loss) for the period before taxes9903-€7,964-€4,374-€3,004-€18,293-€6,521▲ 64.3%
Profit (loss) for the period9904-€7,964-€4,374-€3,004-€18,293-€6,521▲ 64.3%
Profit (loss) for the period to be appropriated9905-€7,964-€4,374-€3,004-€18,293-€6,521▲ 64.3%
Line20212022202320242025Change
Assets
Total assets20/58€43,715€65,505€65,614€377,261€389,979▲ 3.4%
Fixed assets21/28€5,000€30,000€30,000€20,000€20,000=
Financial fixed assets28€5,000€30,000€30,000€20,000€20,000=
Current assets29/58€38,715€35,505€35,614€357,261€369,979▲ 3.6%
Stocks and contracts in progress3€35,480€35,480€35,480€31,932€28,384▼ 11.1%
Stocks30/36€35,480€35,480€35,480€31,932€28,384▼ 11.1%
Amounts receivable within one year40/41€3,167€5€0€325,275€341,539▲ 5.0%
Other amounts receivable41€3,167€5€0€325,275€341,539▲ 5.0%
Cash at bank and in hand54/58€68€21€134€53€56▲ 4.6%
Equity and liabilities
Total equity and liabilities10/49€43,715€65,505€65,614€377,261€389,979▲ 3.4%
Equity10/15€7,870€3,496€492-€17,801-€24,323▼ 36.6%
Contributions10/11€61,500€61,500€61,500€61,500€61,500=
Capital10€61,500€61,500€61,500€61,500€61,500=
Issued capital100€61,500€61,500€61,500€61,500€61,500=
Profit (loss) carried forward14-€53,630-€58,004-€61,008-€79,301-€85,823▼ 8.2%
Amounts payable17/49€35,845€62,009€65,122€395,062€414,301▲ 4.9%
Amounts payable after more than one year17€7,531€30,853€30,900€358,192€377,283▲ 5.3%
Financial debts170/4€7,531€30,853€30,900€358,192€377,283▲ 5.3%
Amounts payable within one year42/48€28,214€31,039€34,013€36,870€37,018▲ 0.4%
Trade debts44€619€1,261€644€1,949€700▼ 64.1%
Suppliers440/4€619€1,261€644€1,949€700▼ 64.1%
Taxes, remuneration and social security45-€5€0---
Taxes450/3-€5€0---
Other amounts payable47/48€27,595€29,774€33,368€34,921€36,318▲ 4.0%
Accrued charges and deferred income492/3€101€118€210€0--
Line20212022202320242025Change
Profit (loss) for the period9904-€7,964-€4,374-€3,004-€18,293-€6,521▲ 64.3%
Operating cash flow (approximation)-€7,964-€4,374-€3,004-€18,293-€6,521▲ 64.3%
Investment in fixed assets (approximation)--€25,000€0€10,000€0▼ 100%
Change in cash--€47€113-€81€2▲ 103%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
31-08
NBB filing Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
29-08
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial Weakest financial yearnet -€18,293
Net result drops to -€18,293, the lowest in the series; recovery starts the following year.
31-12
Financial Liquidity times 9current ratio 9.69
Current ratio from 1.05 to 9.69.
24-10
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 85 days late
2023
01-09
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 32 days late
2022
31-08
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
18-11
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema · 110 days late
2020
01-07
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
12-06
NBB filing Annual accounts filed
fiscal year 2018 · micro schema
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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Vilvoorde · 1 establishment unit since 2017
seat establishment The establishment unit on the map
Ground area
2.0 ha
Building footprint
5,620 m²
Volume, LiDAR
62,382 m³
Parcel 23643E0115/00W000, Flanders · tallest building 20.1 m, ±4 floors. Linked by address, not a title deed.
6 companies at this address See who is registered here
1 establishment unit
PPEM PROJECT MANAGEMENT
Willemsstraat (Jan Frans) 202, 1800 VilvoordeRepair, maintenance and installation of machinery and equipment
since 20172.273.002.186
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
23643E0115/00W000 Flanders 2.0 ha 1 · 5,620 m² 20.1 m · 4 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.

Structure & network

Owners and holdings

1 holding

Owners 0

The accounts to 31-12-2025 list no shareholders, and no other source names one.

Holdings 1

  • PPEM BRUSSELS D.O.O.E.L. StrumicaMKsubsidiary
    Equity -MKD 3.5mResult -MKD 3.3m
    100%+ 0% via subsidiaries

According to the 2025 annual accounts of PPEM PROJECT MANAGEMENT and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Company details

Identification
Legal formPublic limited company
Founded30-10-2017
Fiscal year end31-12
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.