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PROJEA

Active
Private limited company (pre-2019)founded 20187 yrs activeRue Obecq 41, 1410 Waterloo, BelgiumKBO/BCE: BE 0712.523.396
Summary

The computed 12-month bankruptcy probability of PROJEA is 1.6% (moderate). The 2024 annual accounts show equity of €103,296 and a net result of -€1,205. Equity is growing by ~18.8% per year across the filed fiscal years. Its solvency ranks better than 65% of 8966 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2024
Axes · tick = 2023
Profitability42▼-14
Solvency95▲+26
Growth62=
Track record100
Bankruptcy probability, 12 months
1.6% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 1.79 in 2023; short-term debt: 6.9% of total assets), and 30.3% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 date
Age against the risk zone
highest failure risk from 2 to 8 years 7 years 0 10 y
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 2024
Solvency, return and age of the figures
Solvency
69.7%
Return on assets
-0.8%
Age of the figures
21 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-10-2025, 69 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 · 6 filings
Deviation from the deadline
2025
not confirmed
2024
69 d late
2023
41 d late
2022
77 d late
2021
6 d early
2020
66 d late
2019
17 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 44 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (1)
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

On 24 October 2018, PROJEA was incorporated.1 Revenue went from EUR 75,771 in 2019 to EUR 72,446 in 2023.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2019 and 2023

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Financials · fiscal year 2024, micro schema

Turnover
€72,446▼ 24.7%
2022 · €96,247
EBIT margin
6.8%▲ 2.5pp
2022 · 4.3%
Net result
-€1,205
2023 · €2,276
Working capital
-€9,422
2023 · €13,718
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Turnover€89,127▲ 17.6%€82,889▼ 7.0%€96,247▲ 16.1%€72,446▼ 24.7%
Operating result€3,636-€37€4,118€4,914▲ 19.3%€225▼ 95.4%
Net result€2,742within the sector's middle half-€1,413below the sector's middle half€1,725within the sector's middle half€2,276within the sector's middle half▲ 31.9%-€1,205below the sector's middle half
EBIT margin4.1%▲ 17.5pp0.0%▼ 4.1pp4.3%▲ 4.3pp6.8%▲ 2.5pp
Equity€11,130below the sector's middle half▲ 32.7%€9,717below the sector's middle half▼ 12.7%€11,442below the sector's middle half▲ 17.8%€13,718below the sector's middle half▲ 19.9%€103,296within the sector's middle half▲ 653%
Total assets€32,454below the sector's middle half▲ 31.2%€23,437below the sector's middle half▼ 27.8%€32,509below the sector's middle half▲ 38.7%€31,115below the sector's middle half▼ 4.3%€148,194within the sector's middle half▲ 376%
Debt€21,324▲ 30.4%€13,720▼ 35.7%€21,067▲ 53.6%€17,397▼ 17.4%€29,709▲ 70.8%
Working capital€10,133▲ 58.2%€9,717▼ 4.1%€11,442▲ 17.8%€13,718▲ 19.9%-€9,422
Solvency34.3%within the sector's middle half▲ 0.4pp41.5%within the sector's middle half▲ 7.2pp35.2%within the sector's middle half▼ 6.3pp44.1%within the sector's middle half▲ 8.9pp69.7%within the sector's middle half▲ 25.6pp
above within below the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€2,000€0€2,000€4,000Operating result 2020: €3,636€3,636Net result 2020: €2,742€2,742Operating result 2021: -€37-€37Net result 2021: -€1,413-€1,413Operating result 2022: €4,118€4,118Net result 2022: €1,725€1,725Operating result 2023: €4,914€4,914Net result 2023: €2,276€2,276Operating result 2024: €225€225Net result 2024: -€1,205-€1,20520202021202220232024-€2,000€0€2,000€4,000Operating result 2022: €4,118€4,120Net result 2022: €1,725€1,730Operating result 2023: €4,914€4,910Net result 2023: €2,276€2,280Operating result 2024: €225€225Net result 2024: -€1,205-€1,200202220232024
The operating result falls in 2024; 2024 is 95% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €148,194
Fixed assets €147,346
Current assets €848
Equity and liabilities €148,194
Equity €103,296 ▲ 653%
Provisions €15,189
Debt €29,709 ▲ 70.8%
Debt's share of the balance-sheet total falls from 55.9% to 20.0%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
€6,977
Cash flow
€5,547
Current ratio
0.08▼
2023 · 1.79
Debt to equity
0.29▼
2023 · 1.27
ROE
-1.2%▼
2023 · 16.6%
ROA
-0.8%▼
2023 · 7.3%
Interest coverage
2.93
Debt ≤ 1 year
€10,270▼
2023 · €17,397
Debt > 1 year
€19,339
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 3,440 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.

  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a small loss
2.1% went bankrupt
7.4% stopped otherwise
90% still going

A further 0.7% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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 3,440 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 51 lines
Balance sheet Code20232024
Assets
Total assets20/58€31,115€148,194▲
Fixed assets21/28-€147,346
Tangible fixed assets22/27-€147,346
Land and buildings22-€147,346
Current assets29/58€31,115€848▼
Amounts receivable within one year40/41€17,378€686▼
Trade receivables40€13,709-
Other amounts receivable41€3,669€686▼
Cash at bank and in hand54/58€13,737-
Deferred charges and accrued income490/1-€162
Equity and liabilities
Total equity and liabilities10/49€31,115€148,194▲
Equity10/15€13,718€103,296▲
Contributions10/11€18,600€18,592=
Capital10€18,600€18,592=
Issued capital100€18,600€18,592=
Reserves13-€59,666
Non-distributable reserves130/1-€1,859
Legal reserve130-€1,859
Tax-exempt reserves132-€57,807
Profit (loss) carried forward14-€4,882€25,038▲
Provisions and deferred taxes16-€15,189
Deferred taxes168-€15,189
Amounts payable17/49€17,397€29,709▲
Amounts payable after more than one year17-€19,339
Financial debts170/4-€19,339
Amounts payable within one year42/48€17,397€10,270▼
Current portion of amounts payable after more than one year42-€8,098
Financial debts43-€2,172
Credit institutions430/8-€2,172
Trade debts44€1,431-
Suppliers440/4€1,431-
Taxes, remuneration and social security45€15,965-
Taxes450/3€11,429-
Remuneration and social security454/9€4,537-
Accrued charges and deferred income492/3-€100
Income statement Code20232024
Turnover70€72,446-
Goods, raw materials, services and sundry goods60/61€68,525€7,097▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€6,752
Other operating charges640/8€1,689€2,067▲
Gross operating margin9900€6,603€9,044▲
Operating profit (loss)9901€4,914€225▼
Financial charges65/66B€179€2,379▲
Recurring financial charges65€179€2,379▲
Profit (loss) for the period before taxes9903€4,735-€2,154▼
Transfer from deferred taxes780-€949
Income taxes67/77€2,459-
Profit (loss) for the period9904€2,276-€1,205▼
Transfer from tax-exempt reserves789-€2,441
Profit (loss) for the period to be appropriated9905€2,276€1,236▼
Appropriation of the result
Profit (loss) to be appropriated9906-€4,882€25,038▲
Profit (loss) brought forward from the previous period14P-€7,158€23,801▲

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Turnover70€89,127€82,889€96,247€72,446--
Goods, raw materials, services and sundry goods60/61-€82,337€93,129€68,525€7,097▼ 89.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€986€996--€6,752-
Other operating charges640/8-€2,098€1,641€1,689€2,067▲ 22.4%
Gross operating margin9900€6,436€3,058€5,758€6,603€9,044▲ 37.0%
Operating profit (loss)9901€3,636-€37€4,118€4,914€225▼ 95.4%
Recurring financial income75€0-----
Financial charges65/66B-€161€142€179€2,379▲ 1,226%
Recurring financial charges65€94€161€142€179€2,379▲ 1,226%
Profit (loss) for the period before taxes9903€3,542-€198€3,976€4,735-€2,154▼ 145%
Transfer from deferred taxes780----€949-
Income taxes67/77€800€1,215€2,250€2,459--
Profit (loss) for the period9904€2,742-€1,413€1,725€2,276-€1,205▼ 153%
Transfer from tax-exempt reserves789----€2,441-
Profit (loss) for the period to be appropriated9905€2,742-€1,413€1,725€2,276€1,236▼ 45.7%
Line20202021202220232024Change
Assets
Total assets20/58€32,454€23,437€32,509€31,115€148,194▲ 376%
Fixed assets21/28€996---€147,346-
Tangible fixed assets22/27€996---€147,346-
Land and buildings22----€147,346-
Current assets29/58€31,458€23,437€32,509€31,115€848▼ 97.3%
Amounts receivable within one year40/41€28,946€21,936€31,818€17,378€686▼ 96.1%
Trade receivables40-€18,699€28,292€13,709--
Other amounts receivable41-€3,237€3,525€3,669€686▼ 81.3%
Cash at bank and in hand54/58€2,512€1,502€692€13,737--
Deferred charges and accrued income490/1----€162-
Equity and liabilities
Total equity and liabilities10/49€32,454€23,437€32,509€31,115€148,194▲ 376%
Equity10/15€11,130€9,717€11,442€13,718€103,296▲ 653%
Contributions10/11€18,600€18,600€18,600€18,600€18,592=
Capital10-€18,600€18,600€18,600€18,592=
Issued capital100-€18,600€18,600€18,600€18,592=
Reserves13----€59,666-
Non-distributable reserves130/1----€1,859-
Legal reserve130----€1,859-
Tax-exempt reserves132----€57,807-
Profit (loss) carried forward14-€7,470-€8,883-€7,158-€4,882€25,038▲ 613%
Provisions and deferred taxes16----€15,189-
Deferred taxes168----€15,189-
Amounts payable17/49€21,324€13,720€21,067€17,397€29,709▲ 70.8%
Amounts payable after more than one year17----€19,339-
Financial debts170/4----€19,339-
Amounts payable within one year42/48€21,324€13,720€21,067€17,397€10,270▼ 41.0%
Current portion of amounts payable after more than one year42----€8,098-
Financial debts43----€2,172-
Credit institutions430/8----€2,172-
Trade debts44€3,460€2,899€7,019€1,431--
Suppliers440/4-€2,899€7,019€1,431--
Taxes, remuneration and social security45-€10,822€14,048€15,965--
Taxes450/3-€9,622€10,267€11,429--
Remuneration and social security454/9-€1,200€3,781€4,537--
Accrued charges and deferred income492/3----€100-
Line20202021202220232024Change
Profit (loss) for the period9904€2,742-€1,413€1,725€2,276-€1,205▼ 153%
+ Depreciation and write-downs630€986€996--€6,752-
Operating cash flow (approximation)€3,728-€416€1,725€2,276€5,547▲ 144%
Change in cash--€1,010-€810€13,045--

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

2025
08-10
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 69 days late
2024
31-12
Financial Equity above €100,000Eq €103,296 ▲653%
Equity rises from €13,718 to €103,296.
10-09
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 41 days late
2023
16-10
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 77 days late
2022
31-12
Financial Back to profitnet €1,725
Net result €1,725 after one loss-making year.
25-07
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
2021
05-10
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 66 days late
2020
31-12
Financial Back to profitnet €2,742
Net result €2,742 after one loss-making year.
17-08
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
1 act for this company is 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, Waterloo · 1 establishment unit since 2018
seat establishment The establishment unit on the map
Ground area
723 m²
Building footprint
130 m²
Volume, LiDAR
666 m³
Parcel 25764N0083/00_000, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Obecq 41, 1410 Waterloo
Activities of head offices; management consultancy activities
since 20182.285.457.085
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
25764N0083/00_000 Wallonia 723 m² 1 · 130 m² 7.8 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.

Similar companies · same sector, comparable size

Of 13,417 companies in sector 73300 we hold annual accounts for 6,899. 5,593 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 (pre-2019)
Founded24-10-2018
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
E-invoicing
Not found in the Peppol register

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Register as of 27 September 2026 · Peppol Directory

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