PPP DEVELOPMENT
ActiveSummary
The annual accounts of PPP DEVELOPMENT for financial year 2025 show a net loss of 80% of the equity at the start of that year. The 2025 annual accounts show equity of €12,541 and a net result of -€49,534. Equity is shrinking by about 3.7% per year across the filed financial years. Its solvency ranks better than 10% of 1,021 sector peers (NACE 41, financial year 2025). The company has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Overview
- Equity
- €12,541
- Loss
- -€49,534
- Parent
- COFIDEC · 100%
- Holdings
- 1
Why 53raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLiquidity: current ratio 1.04, cash €1,593Sector: Construction of residential and non-residential buildings (NACE 41)Equity €12,541 (0.5% of total assets)lowers riskSize: total assets €2.5mShow the evidence
Checked score
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 41, small): better than 8% on solvency, 1% on liquidity, 20% on profitability and 3% on growth.
The bankruptcy probability was computed on 22-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 10 days before the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Weakest financial yearnet -€49,534
- Annual accounts filedfinancial year 2024 · full…
Financials · financial year 2025, full format
2025 annual accounts filed late (27 days) Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00480024.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 53% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 912 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 95.3% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,473 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 912 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €7,631 | €7,752 | €8,505 | €8,817 | €9,094 | ▲ 3.1% |
| Gross operating margin9900 | €5,017 | €20,984 | €24,698 | €24,280 | €30,761 | €62,125 | €154,493 | €77,760 | ▼ 49.7% |
| Operating profit (loss)9901 | €4,670 | €20,623 | €17,045 | €16,649 | €23,010 | €53,621 | €145,676 | €68,666 | ▼ 52.9% |
| Financial income75/76B | - | - | - | - | - | €90 | - | - | - |
| Recurring financial income75 | - | - | - | - | - | €90 | - | - | - |
| Financial charges65/66B | - | - | - | €19,358 | €23,003 | €58,718 | €148,982 | €118,200 | ▼ 20.7% |
| Recurring financial charges65 | €1,225 | €19,243 | €19,227 | €19,358 | €23,003 | €58,718 | €148,982 | €118,200 | ▼ 20.7% |
| Profit (loss) for the period before taxes9903 | €3,444 | €1,380 | -€2,182 | -€2,709 | €7 | -€5,007 | -€3,307 | -€49,534 | ▼ 1,398% |
| Profit (loss) for the period9904 | €3,444 | €1,380 | -€2,182 | -€2,709 | €7 | -€5,007 | -€3,307 | -€49,534 | ▼ 1,398% |
| Profit (loss) for the period to be appropriated9905 | €3,444 | €1,380 | -€2,182 | -€2,709 | €7 | -€5,007 | -€3,307 | -€49,534 | ▼ 1,398% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.8m | €1.8m | €2.0m | €2.0m | €2.1m | €2.2m | €2.4m | €2.5m | ▲ 5.2% |
| Fixed assets21/28 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Financial fixed assets28 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Current assets29/58 | €1.8m | €1.8m | €2.0m | €2.0m | €2.1m | €2.2m | €2.4m | €2.5m | ▲ 5.2% |
| Stocks and contracts in progress3 | €1.5m | €1.7m | €1.8m | €1.8m | €1.8m | €1.9m | €2.1m | €2.2m | ▲ 6.4% |
| Contracts in progress37 | - | - | - | €1.8m | €1.8m | €1.9m | €2.1m | €2.2m | ▲ 6.4% |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 3.6% |
| Trade receivables40 | - | - | - | €0.01m | €0.005m | €0.002m | - | - | - |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 3.6% |
| Cash at bank and in hand54/58 | €0.1m | €0.008m | €0.02m | €0.002m | €0.003m | €0.05m | €0.001m | €0.002m | ▲ 148% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.002m | €0.003m | €0.003m | €0.003m | ▲ 4.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.8m | €1.8m | €2.0m | €2.0m | €2.1m | €2.2m | €2.4m | €2.5m | ▲ 5.2% |
| Equity10/15 | €0.07m | €0.08m | €0.07m | €0.07m | €0.07m | €0.07m | €0.06m | €0.01m | ▼ 79.8% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.03m | -€0.02m | -€0.03m | -€0.03m | -€0.03m | -€0.03m | -€0.04m | -€0.09m | ▼ 131% |
| Amounts payable17/49 | €1.8m | €1.8m | €1.9m | €2.0m | €2.0m | €2.2m | €2.4m | €2.5m | ▲ 7.4% |
| Amounts payable within one year42/48 | €1.8m | €1.8m | €1.9m | €2.0m | €2.0m | €2.2m | €2.3m | €2.4m | ▲ 6.6% |
| Financial debts43 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.0m | ▼ 21.1% |
| Credit institutions430/8 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.0m | ▼ 21.1% |
| Trade debts44 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.04m | €0.06m | €0.01m | ▼ 84.4% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.04m | €0.06m | €0.01m | ▼ 84.4% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.8m | €0.9m | €1.0m | €1.4m | ▲ 48.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.08m | €0.1m | ▲ 32.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,444 | €1,380 | -€2,182 | -€2,709 | €7 | -€5,007 | -€3,307 | -€49,534 | ▼ 1,398% |
| Operating cash flow (approximation) | €3,444 | €1,380 | -€2,182 | -€2,709 | €7 | -€5,007 | -€3,307 | -€49,534 | ▼ 1,398% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€87,509 | €16,472 | -€22,938 | €745 | €48,419 | -€50,363 | €952 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 27-08-2026 | 2026-00480024 |
| 31-12-2024 | full format | 07-07-2025 | 2025-00250602 |
| 31-12-2023 | full format | 11-07-2024 | 2024-00246073 |
| 31-12-2022 | full format | 18-07-2023 | 2023-00251138 |
| 31-12-2021 | full format | 14-07-2022 | 2022-20196490 |
| 31-12-2020 | full format | 27-07-2021 | 2021-40100162 |
| 31-12-2019 | full format | 10-07-2020 | 2020-30300368 |
| 31-12-2018 | full format | 19-07-2019 | 2019-39000013 |
| 31-12-2017 | full format | 25-07-2018 | 2018-38000367 |
| 31-12-2016 | full format | 19-06-2017 | 2017-18800049 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
1 ownerChain of control
- COFIDEC
- PPP DEVELOPMENT
Highest known parent: COFIDEC. The sources do not say who stands above it.
Owners 1
- COFIDECparentSourceaccounts COFIDEC 2025100%
According to the 2025 annual accounts of PPP DEVELOPMENT and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 05-06-2024 Capital stated in the deed · €100,000 · 100 shares
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
33.33%
According to the 2025 annual accounts of PPP DEVELOPMENT and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
The network starts from this company’s shareholders. What else they own or run appears here as nodes.
History
Acts, filings and financial milestones
05-06
Gazette deed
Amendment of the articlesRegistered office clause · Capital4 facts ▸
- Registered office clause, “Avenue de Roodebeek 24 à 1030 Schaerbeek” (deed in French)
- Amendment of the articles (2 times)
- Capital, €100,000
- General meeting, 06-12-2023
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 22 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0830.731.160
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21905C0150/00B009 | Brussels | 938 m² | 1 · 195 m² | 12.4 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La société peut constituer, développer, promouvoir et gérer un patrimoine immobilier, et réaliser toute opération immobilière et foncière…” (deed in French)
11 activities (deed in French)
- La société peut constituer, développer, promouvoir et gérer un patrimoine immobilier, et réaliser toute opération immobilière et foncière quelconque, y compris celles se rapportant à tous droits réels immobiliers comme, entre autres, l'emphytéose, la superficie ou encore le leasing immobilier, le tout dans son acceptation la plus large et notamment: l'acquisition, l'aliénation, l'acte de grever, l'échange, la rénovation, la transformation, l'aménagement, l'entretien, le lotissement, la prospection, l'exploitation, la préparation pour construire, la location (donner ou prendre à bail), la sous-location, la mise à disposition, la gestion et la gérance, dans le sens le plus large, en nom propre et au nom de tiers d'immeubles et de droits réels immobiliers, sans que cette énumération soit limitative, et de biens meubles concernant l'aménagement et l'équipement d'immeubles, sans que cette énumération soit limitative, l'exploitation de commerces et/ou immeubles et droits réels immobiliers, ainsi que tous les actes ayant un rapport direct ou indirect avec cet objet ou qui seraient de nature à favoriser directement ou indirectement le rendement de biens meubles et immeubles.
- La société peut mettre gratuitement des biens immobiliers à disposition de ses administrateurs et leur famille en tant que rémunération des prestations fournies à la société.
- Elle peut hypothéquer ses immeubles et mettre en gage tous ses autres biens y compris son fonds de commerce.
- Elle peut également - en fonction de ses intérêts propres - se porter caution ou accorder son aval pour tous prêts ou engagements quelconques tant pour elle-même que pour tous tiers-particuliers, y compris les administrateurs, les actionnaires, le personnel et les préposés de la société.
- Elle peut se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non.
- Elle peut constituer, développer et gérer un patrimoine mobilier et faire toutes opérations mobilières quelconques y compris celles se rapportant à tous droits mobiliers comme l'acquisition par voie d'inscription ou de cession et la gestion d'actions, d'obligations convertibles ou non, de prêts de consommation, de prêts ordinaires, de bons de caisse ou autres valeurs mobilières, de quelque forme que ce soit, tant de personnes morales que d'entreprises, belges ou étrangères, existantes ou encore à constituer.
- La société pourra exercer tout mandat généralement quelconque ainsi que toute fonction autorisée dans toute personne morale belge ou étrangère en ce compris la fonction d'administrateur, de délégué à la gestion journalière, de gérant et de liquidateur. Ce mandat pourra être rémunéré ou gratuit.
- La société peut, par voie d'apport en espèces ou en nature, de fusion, de souscription, de participation, d'intervention financière ou autrement, prendre des participations dans d'autres sociétés ou entreprises existantes ou à créer, que ce soit en Belgique ou à l'étranger, dont l'objet serait semblable ou analogue au sien ou de nature à favoriser son objet.
- Elle peut également consentir tous prêts ou garantir tous prêts consentis par des tiers, étant entendu que la société n'effectuera aucune activité dont l'exercice serait soumis à des dispositions légales ou réglementaires applicables aux établissements de crédits et/ou financiers.
- Elle peut faire toutes opérations commerciales, industrielles et financières, immobilières et mobilières, se rapportant directement ou indirectement à son objet ou susceptibles de favoriser son développement, à l'exception des opérations sur valeurs mobilières et immobilières réservées par la loi aux banques et aux sociétés de bourse.
- Toute contribution à l'établissement et au développement d'entreprises et en particulier de dispenser des avis techniques, commerciaux ou administratifs dans le sens le plus large du terme, fournir des conseils, son assistance et exécuter des services directement ou indirectement sur le plan de l'administration et des finances, de la vente, de la production, des techniques d'organisation et de distributions commerciales, et plus généralement de la gestion en général et de l'exercice de toutes activités de services et de management au sens le plus large de ces termes à toutes personnes physiques ou morales quelconques; exécuter tous mandats sous forme d'études d'organisation, d'expertises, d'actes et de conseils techniques ou autres dans tout domaine rentrant dans son objet.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PPP DEVELOPMENT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, pour autant que pareil déplacement n'impose pas la modification de la langue des statuts en vertu de la…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Illimitée, un ou plusieurs administrateurs” (deed in French)“Lieu indiqué convocations, président ou administrateur remplaçant en cas empêchement” (deed in French)“Tout administrateur peut mandater un collègue par écrit ou moyen support matériel pour réunion déterminée, moitié au moins membres présents…” (deed in French)“Tous actes nécessaires ou utiles réalisation objet, organe administration” (deed in French)“Non rémunéré, administrateur” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Déclaration de transfert inscrite dans registre datée et signée, sauf conventions contraires entre actionnaires” (deed in French)
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- “Augmenter le capital en une ou plusieurs fois, d'un montant maximal déterminé, autorisation” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Thursday of June at 11:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale, comme en matière de modification aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Pouvoirs les plus étendus conférés par Code des sociétés et associations, dissolution et clôture en un seul acte possibles dans respect…” (deed in French)