Equity
Equity fell by 65% in 2 years.
Equity fell by 65% in 2 years.
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
The micro format states no turnover.
Of this, €102,700 falls due within a year.
The 2017 accounts came latest: 28 days after the end of the period.
Lower net result than 89% of companies in creative and performing arts. Sector median €6,309 · 2,482 companies.
The dashed line is the sector median: 0.1% across 3,433 companies (NACE 90, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 90, micro). It does better than 25% of them on solvency, 18% on liquidity, 36% on profitability and 14% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,166 companies had the same profile as Pro - J has now. Each dot stands for 6 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Pro - J itself is lower: 0.4% within 12 months. It rests on far more data about Pro - J than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,166 companies, not a prediction for Pro - J. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.19 (0.23 in 2024), below 1. Short-term debt is 52.9% and cash 5.7% of total assets. 87.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 6 days after the deadline. In the sector (NACE 90), the median for financial year 2024 was 3 days before the deadline, and 38% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Pro - J Wichelen | €194,157 | €61,228 | 12.6% | - |
| Arovitec Aarschot | €212,467 | €56,656 | 88.8% | - |
| Therapiecentrum.eu Wetteren | €206,064 | €48,827 | -8.7% | - |
| Story Shaper Ghent | €252,986 | €51,322 | 91.5% | - |
| I KNOW THAT'S RIGHT Ghent | €231,753 | €63,565 | 69.5% | - |
| AmpSon Nazareth-De Pinte | €249,200 | €92,648 | 53.7% | - |
| SVENGALI Productions Antwerp | €167,138 | €54,369 | 60.5% | - |
These companies have the same main activity as Pro - J: specialised image, lighting and sound technical services (NACE 90393). They are comparable in size and age: total assets between €167,000 and €253,000, founded between 2012 and 2015.
Pro - J files the micro format. That format states no turnover. The gross margin rose from €39,770 in 2016 to €61,228 in 2025.
The balance sheet grew most from 2022 to 2023 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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