PRG PROJECTS
ActivePRG PROJECTS has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32.87M and a net result of €-4.72M. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 48% of 227 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
15
/ 100
Critical▼ -31 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-35
Solvency59▼-5
Growth35▼-17
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.59 against 0.6 in 2024), and 54.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45.1%
Return on assets
-6.5%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
119 d late
2023
48 d late
2022
37 d late
2021
117 d late
2020
153 d late
2019
122 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€30k▼ 99.3%
2019 · €4.33M
2018: €6.91M
2019: €4.33M
2018 → 2020
EBIT margin
-5166.7%▼ 5135.1pp
2019 · -31.6%
2018: -24.7%
2019: -31.6%
2018 → 2020
Net result
€-4.72M
2024 · €2.65M
2018: €-1.31M
2019: €703k
2020: €-3.07M
2021: €2.19M
2022: €8.22M
2023: €1.00M
2024: €2.65M
2018 → 2025
Working capital
€-12.95M▼ 8.0%
2024 · €-11.99M
2018: €9.74M
2019: €10.23M
2020: €9.28M
2021: €20.22M
2022: €-3.40M
2023: €-13.50M
2024: €-11.99M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€25.72M-€33.94M▲ 32.0%€34.94M▲ 2.9%€37.59M▲ 7.6%€32.87M▼ 12.6%
Operating result€-1.15M-€4.90M€819k▼ 83.3%€-1.10M€-2.07M▼ 89.1%
Net result€2.19M-€8.22M▲ 276%€1.00M▼ 87.8%€2.65M▲ 165%€-4.72M
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.07M in 2025 against €1.10M in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €72.82M
Fixed assets
€54.00M▼ 4.0%
Current assets
€18.82M▲ 6.2%
Equity and liabilities €72.82M
Equity
€32.87M▼ 12.6%
Debt
€39.96M▲ 9.7%
The debt ratio rises from 49.2% to 54.9%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-992k▼
2024 · €-637k
Cash flow
€-3.64M▼
2024 · €3.11M
Solvency
45.1%▼
2024 · 50.8%
Current ratio
0.59▼
2024 · 0.60
Quick ratio
0.59▼
2024 · 0.60
Debt / equity
1.22▲
2024 · 0.97
ROE
-14.4%▼
2024 · 7.0%
ROA
-6.5%▼
2024 · 3.6%
Interest coverage
-0.21▲
2024 · -2.60
Debt
€39.96M▲
2024 · €36.41M
Debt ≤ 1 year
€31.77M▲
2024 · €29.72M
Debt > 1 year
€3.68M▼
2024 · €3.71M
Income taxes
€140k▲
2024 · €7k
Staff costs
€1.32M▲
2024 · €1.19M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€74.00M€72.82M▼
Fixed assets21/28€56.27M€54.00M▼
Tangible fixed assets22/27€2.30M€1.36M▼
Land and buildings22€591k€579k▼
Plant, machinery and equipment23€1.57M€694k▼
Furniture and vehicles24€32k€56k▲
Leasing and similar rights25€106k€31k▼
Financial fixed assets28€53.97M€52.64M▼
Current assets29/58€17.73M€18.82M▲
Amounts receivable within one year40/41€17.54M€18.23M▲
Trade receivables40€903k€1.63M▲
Other amounts receivable41€16.63M€16.60M▼
Cash at bank and in hand54/58€191k€228k▲
Deferred charges and accrued income490/1€4k€361k▲
Equity and liabilities
Total equity and liabilities10/49€74.00M€72.82M▼
Equity10/15€37.59M€32.87M▼
Contributions10/11€25.60M€25.60M=
Capital10€8.54M€8.54M=
Issued capital100€8.54M€8.54M=
Outside capital11€17.06M€17.06M=
Share premium1100/10€17.06M€17.06M=
Reserves13€3.04M€3.04M=
Non-distributable reserves130/1€858k€858k=
Legal reserve130€858k€858k=
Distributable reserves133€2.18M€2.18M=
Profit (loss) carried forward14€8.95M€4.23M▼
Amounts payable17/49€36.41M€39.96M▲
Amounts payable after more than one year17€3.71M€3.68M▼
Financial debts170/4€3.71M€3.68M▼
Amounts payable within one year42/48€29.72M€31.77M▲
Current portion of amounts payable after more than one year42€29k€23k▼
Financial debts43€96k€115k▲
Credit institutions430/8€96k€115k▲
Trade debts44€3.27M€5.18M▲
Suppliers440/4€3.27M€5.18M▲
Taxes, remuneration and social security45€143k€297k▲
Taxes450/3€8k€140k▲
Remuneration and social security454/9€135k€157k▲
Other amounts payable47/48€26.18M€26.16M▼
Accrued charges and deferred income492/3€2.98M€4.50M▲
Income statement
Code20242025
Remuneration, social security and pensions62€1.19M€1.32M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€459k€1.08M▲
Other operating charges640/8€126k€129k▲
Gross operating margin9900€677k€454k▼
Operating profit (loss)9901€-1.10M€-2.07M▼
Financial income75/76B€3.99M€2.26M▼
Recurring financial income75€3.99M€2.26M▼
Financial charges65/66B€245k€4.76M▲
Recurring financial charges65€245k€4.76M▲
Profit (loss) for the period before taxes9903€2.65M€-4.58M▼
Income taxes67/77€7k€140k▲
Profit (loss) for the period9904€2.65M€-4.72M▼
Transfer from tax-exempt reserves789€2.18M-
Profit (loss) for the period to be appropriated9905€4.83M€-4.72M▼
Appropriation of the result
Profit (loss) to be appropriated9906€11.13M€4.23M▼
Profit (loss) brought forward from the previous period14P€6.30M€8.95M▲
Transfer to equity691/2€2.18M-
To other reserves6921€2.18M-
Social balance
Average headcount (FTE)908712.615.3▲
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-4.72M ▼278%
Net result drops to €-4.72M, the lowest in the series.
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 119 days late
2024
17-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 48 days late
2023
06-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 37 days late
2022
31-12
Financial
Highest result since 2018net €8.22M ▲276%
Operating result €4.90M, net result €8.22M, both a record.
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 117 days late
2021
31-12
Financial
Back to profitnet €2.19M
Net result €2.19M after one loss-making year.
31-12
Financial
Equity above €25MEq €25.72M ▲9.3%
Equity rises from €23.53M to €25.72M.
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 153 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 122 days late
2019
31-12
Financial
Back to profitnet €703k
Net result €703k after one loss-making year.
31-12
Financial
Equity above €25MEq €26.60M ▲9.8%
Equity rises from €24.24M to €26.60M.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
23-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 84 days late
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 91 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2023
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
03-08-2023
Scott Hansen: Resigned as Director
31-10-2022
Richard Williams: Resigned as Director
31-05-2016
Serge Plasch: Resigned as Director
01-01-2016
Lucas Covers: Resigned as Director
01-01-2016
Lucas Covers: Resigned as Managing director
03-06-2015
Bart Cauberghe: Resigned as Director
03-06-2015
De Keyzer BVBA: Resigned as Director
03-06-2015
Dirk Frank Dewals: Resigned as Director
03-06-2015
Gaudeto SPRL: Resigned as Director
03-06-2015
Ingeborg Geertruide Bink: Resigned as Director
03-04-2014
Denis Papin: Resigned as Director
29-06-2013
DEVER BEHEER BVBA: Resigned as Director
02-04-2013
Lee Spencer: Resigned as Director
Location & real-estate footprint
Registered office, Oostende · 1 establishment unit since 1998
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
John Cordierlaan 118400 OostendeGround area
1.4 ha
Building footprint
3,013 m²
Volume, LiDAR
28,035 m³
Parcel 35026B0181/00E000, Flanders · tallest building 19.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PRG PROJECTS
since 19982.085.176.039
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35026B0181/00E000 | Flanders | 1.4 ha | 1 · 3,013 m² | 19.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| KPMG Bedrijfsrevisoren BCVBA Statutory auditor · represented by Harry Van Donink | - → 31-12-2015 |
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Of 3,379 companies in sector 90393 we hold annual accounts for 930. 17 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded15-12-1997
Fiscal year end31-12
Activities, NACEBEL
71403
90393Specialised image, lighting and sound technical services
64200Holdings
64210Activities of holding companies
77222Rental and leasing activities
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.