Project
ActiveSummary
The computed 12-month bankruptcy probability of Project is 2.2% (moderate). The 2025 annual accounts show equity of €54,137 and a net result of €7,137. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 26% of 28184 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+1
Solvency50▼-15
Growth52=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity short (current ratio 0.98 against 1.6 in 2024; short-term debt: 74.9% and cash: 3.1% of total assets), and 74.9% of the assets are financed with debt.
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Signals
Three 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 dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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 · 4 filingsDeviation from the deadline
2025
2 d late
2024
4 d late
2023
2 d late
2022
303 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 78 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€54,137▲ 15.2%
2024 · €47,000
Total assets
€215,810▲ 85.0%
2024 · €116,672
Net result
€7,137▲ 176%
2024 · €2,587
Working capital
-€2,982
2024 · €41,665
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line2022202320242025
Operating result€72,800-€10,164▼ 86.0%€5,586▼ 45.0%€9,120▲ 63.3%
Net result€59,862above the sector's middle half-€7,552within the sector's middle half▼ 87.4%€2,587within the sector's middle half▼ 65.7%€7,137within the sector's middle half▲ 176%
Equity€36,862within the sector's middle half-€44,413within the sector's middle half▲ 20.5%€47,000within the sector's middle half▲ 5.8%€54,137within the sector's middle half▲ 15.2%
Total assets€100,313within the sector's middle half-€115,555within the sector's middle half▲ 15.2%€116,672within the sector's middle half▲ 1.0%€215,810within the sector's middle half▲ 85.0%
Debt€63,451-€71,142▲ 12.1%€69,671▼ 2.1%€161,672▲ 132%
Working capital€24,817-€36,923▲ 48.8%€41,665▲ 12.8%-€2,982
Solvency36.7%within the sector's middle half-38.4%within the sector's middle half▲ 1.7pp40.3%within the sector's middle half▲ 1.8pp25.1%within the sector's middle half▼ 15.2pp
Staff (FTE)0.1-0.3▲ 200%0.3=1.6▲ 433%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 63% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215,810
Fixed assets
€57,120 ▲ 971%
Current assets
€158,690 ▲ 42.5%
Equity and liabilities €215,810
Equity
€54,137 ▲ 15.2%
Debt
€161,672 ▲ 132%
Debt's share of the balance-sheet total rises from 59.7% to 74.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€23,843▲
2024 · €10,990
Cash flow
€21,861▲
2024 · €7,992
Current ratio
0.98▼
2024 · 1.60
Debt to equity
2.99▲
2024 · 1.48
ROE
13.2%▲
2024 · 5.5%
ROA
3.3%▲
2024 · 2.2%
Interest coverage
33.10▲
2024 · 16.51
Debt ≤ 1 year
€161,672▲
2024 · €69,671
Income taxes
€3,107▲
2024 · €2,345
Staff costs
€59,509▲
2024 · €5,195
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,270 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% 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%.
| 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 3,270 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
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €400 | - |
| Remuneration, social security and pensions62 | €9,559 | €14,210 | €5,195 | €59,509 | ▲ 1,046% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,619 | €4,554 | €5,404 | €14,724 | ▲ 172% |
| Other operating charges640/8 | €573 | - | €886 | €3,617 | ▲ 308% |
| Gross operating margin9900 | €84,551 | €28,929 | €17,070 | €86,969 | ▲ 409% |
| Operating profit (loss)9901 | €72,800 | €10,164 | €5,586 | €9,120 | ▲ 63.3% |
| Financial income75/76B | €512 | €49 | €12 | €1,844 | ▲ 15,516% |
| Recurring financial income75 | €512 | €49 | €12 | €1,844 | ▲ 15,516% |
| Financial charges65/66B | €533 | €122 | €666 | €720 | ▲ 8.2% |
| Recurring financial charges65 | €533 | €122 | €666 | €720 | ▲ 8.2% |
| Profit (loss) for the period before taxes9903 | €72,780 | €10,092 | €4,932 | €10,244 | ▲ 108% |
| Income taxes67/77 | €12,918 | €2,541 | €2,345 | €3,107 | ▲ 32.5% |
| Profit (loss) for the period9904 | €59,862 | €7,552 | €2,587 | €7,137 | ▲ 176% |
| Profit (loss) for the period to be appropriated9905 | €59,862 | €7,552 | €2,587 | €7,137 | ▲ 176% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €100,313 | €115,555 | €116,672 | €215,810 | ▲ 85.0% |
| Fixed assets21/28 | €12,044 | €7,490 | €5,336 | €57,120 | ▲ 971% |
| Tangible fixed assets22/27 | €12,044 | €7,490 | €5,336 | €57,120 | ▲ 971% |
| Plant, machinery and equipment23 | €12,044 | €7,490 | €2,985 | €21,385 | ▲ 616% |
| Furniture and vehicles24 | - | - | €2,351 | €35,735 | ▲ 1,420% |
| Current assets29/58 | €88,268 | €108,065 | €111,336 | €158,690 | ▲ 42.5% |
| Amounts receivable within one year40/41 | €81,883 | €107,292 | €108,933 | €150,535 | ▲ 38.2% |
| Trade receivables40 | €33,998 | €37,453 | €23,315 | €53,934 | ▲ 131% |
| Other amounts receivable41 | €47,885 | €69,839 | €85,617 | €96,601 | ▲ 12.8% |
| Cash at bank and in hand54/58 | €6,385 | €773 | €2,403 | €6,759 | ▲ 181% |
| Deferred charges and accrued income490/1 | - | - | - | €1,396 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €100,313 | €115,555 | €116,672 | €215,810 | ▲ 85.0% |
| Equity10/15 | €36,862 | €44,413 | €47,000 | €54,137 | ▲ 15.2% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €34,862 | €34,862 | €34,862 | €52,137 | ▲ 49.6% |
| Distributable reserves133 | €34,862 | €34,862 | €34,862 | €52,137 | ▲ 49.6% |
| Profit (loss) carried forward14 | - | €7,552 | €10,139 | €0 | ▼ 100% |
| Amounts payable17/49 | €63,451 | €71,142 | €69,671 | €161,672 | ▲ 132% |
| Amounts payable within one year42/48 | €63,451 | €71,142 | €69,671 | €161,672 | ▲ 132% |
| Financial debts43 | - | - | - | €4,582 | - |
| Credit institutions430/8 | - | - | - | €4,582 | - |
| Trade debts44 | €12,838 | €39,431 | €7,622 | €144,048 | ▲ 1,790% |
| Suppliers440/4 | €12,838 | €39,431 | €7,622 | €144,048 | ▲ 1,790% |
| Taxes, remuneration and social security45 | €25,613 | €23,623 | €21,273 | €6,635 | ▼ 68.8% |
| Taxes450/3 | €23,812 | €16,084 | €13,199 | €4,413 | ▼ 66.6% |
| Remuneration and social security454/9 | €1,801 | €7,539 | €8,074 | €2,223 | ▼ 72.5% |
| Other amounts payable47/48 | €25,000 | €8,088 | €40,776 | €6,407 | ▼ 84.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €59,862 | €7,552 | €2,587 | €7,137 | ▲ 176% |
| + Depreciation and write-downs630 | €1,619 | €4,554 | €5,404 | €14,724 | ▲ 172% |
| Operating cash flow (approximation) | €61,480 | €12,106 | €7,992 | €21,861 | ▲ 174% |
| Investment in fixed assets (approximation) | - | €0 | -€3,250 | -€66,508 | ▼ 1,946% |
| Change in cash | - | -€5,613 | €1,630 | €4,356 | ▲ 167% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
30-06
Financial
Weakest financial yearnet €2,587 ▼65.7%
Net result drops to €2,587, the lowest in the series; recovery starts the following year.
02-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 303 days late
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
3 acts for this company are 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, Leuven · 1 establishment unit since 2021
Ground area
1,857 m²
Building footprint
891 m²
Volume, LiDAR
5,839 m³
Parcel 24126B0233/00F006, Flanders · tallest building 11.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Aarschotsesteenweg 447, 3012 Leuven
since 20212.316.674.457
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24126B0233/00F006 | Flanders | 1,857 m² | 1 · 891 m² | 11.8 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.
Recognitions · licences · registrations
Dual-learning approval
4 live approvalsMedewerker ruwbouw (vwo)
Medewerker ruwbouw duaal (so)
Metselaar (vwo)
Ruwbouw duaal (so)
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BASTACO
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ERIAN
BE 0475.223.289
Diepenbeek · Eq €54,404
Of 4,093 companies in sector 43240 we hold annual accounts for 1,634. 1,342 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
Founded29-03-2021
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
43240Other construction installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0765809654
Also
9925:BE0765809654
Registered
05-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.