PROJECT A
ActiveSummary
PROJECT A has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €456k and a net result of €-13k. Equity is growing by ~15.4% per year across the filed fiscal years. Its solvency ranks better than 73% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability33▼-24
Solvency87=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.22 against 2.44 in 2024; short-term debt: 28.5% and cash: 0% of total assets), and 38.1% of the assets are financed with debt.
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Signals
Two 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 · 10 filingsDeviation from the deadline
2025
26 d late
2024
31 d late
2023
127 d late
2022
31 d late
2021
30 d late
2020
31 d late
2019
92 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€456k▼ 2.9%
2024 · €470k
Total assets
€738k▼ 3.2%
2024 · €762k
Net result
€-13k
2024 · €58k
Working capital
€46k▼ 72.1%
2024 · €165k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€177k€-11k€-152k▼ 1,347%€26k€-10k
Net result€428k€68k▼ 84.1%€-104k€58k€-13k
Equity€447k▲ 2,272%€515k▲ 15.3%€411k▼ 20.1%€470k▲ 14.2%€456k▼ 2.9%
Total assets€1.37M▲ 35.9%€1.29M▼ 6.0%€833k▼ 35.4%€762k▼ 8.6%€738k▼ 3.2%
Debt€927k▼ 6.6%€776k▼ 16.3%€422k▼ 45.6%€292k▼ 30.8%€281k▼ 3.6%
Working capital€450k▲ 391%€417k▼ 7.3%€211k▼ 49.5%€165k▼ 21.7%€46k▼ 72.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €10k after €26k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €738k
Fixed assets
€482k =
Current assets
€256k ▼ 8.6%
Equity and liabilities €738k
Equity
€456k ▼ 2.9%
Debt
€281k ▼ 3.6%
Debt's share of the balance-sheet total falls from 38.3% to 38.1%. Equity and debt are lower.
Key figures and ratios
Current ratio
1.22▼
2024 · 2.44
Quick ratio
0.41▼
2024 · 0.95
Debt to equity
0.62▼
2024 · 0.62
ROE
-2.9%▼
2024 · 12.4%
ROA
-1.8%▼
2024 · 7.7%
Debt ≤ 1 year
€210k▲
2024 · €115k
Debt > 1 year
€71k▼
2024 · €177k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €7k | €5k | €910 | €8k | €1k | ▼ 86.0% |
| Gross operating margin9900 | €184k | €-5k | €-151k | €33k | €-9k | ▼ 126% |
| Operating profit (loss)9901 | €177k | €-11k | €-152k | €26k | €-10k | ▼ 138% |
| Financial income75/76B | €326k | €88k | €60k | €39k | - | - |
| Recurring financial income75 | €326k | €88k | €60k | €39k | - | - |
| Financial charges65/66B | €26k | €14k | €12k | €7k | €4k | ▼ 43.0% |
| Recurring financial charges65 | €26k | €14k | €12k | €7k | €4k | ▼ 43.0% |
| Profit (loss) for the period before taxes9903 | €476k | €64k | €-104k | €58k | €-13k | ▼ 123% |
| Income taxes67/77 | €48k | €-5k | - | - | - | - |
| Profit (loss) for the period9904 | €428k | €68k | €-104k | €58k | €-13k | ▼ 123% |
| Profit (loss) for the period to be appropriated9905 | €428k | €68k | €-104k | €58k | €-13k | ▼ 123% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.37M | €1.29M | €833k | €762k | €738k | ▼ 3.2% |
| Fixed assets21/28 | €482k | €482k | €482k | €482k | €482k | = |
| Financial fixed assets28 | €482k | €482k | €482k | €482k | €482k | = |
| Current assets29/58 | €892k | €809k | €352k | €280k | €256k | ▼ 8.6% |
| Stocks and contracts in progress3 | €516k | €545k | €182k | €171k | €171k | = |
| Stocks30/36 | €516k | €545k | €182k | €171k | €171k | = |
| Amounts receivable within one year40/41 | €298k | €185k | €78k | €89k | €85k | ▼ 5.1% |
| Trade receivables40 | €12k | €18k | €12k | €23k | €16k | ▼ 29.9% |
| Other amounts receivable41 | €286k | €167k | €66k | €67k | €69k | ▲ 3.3% |
| Cash at bank and in hand54/58 | €78k | €79k | €92k | €20k | €361 | ▼ 98.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.37M | €1.29M | €833k | €762k | €738k | ▼ 3.2% |
| Equity10/15 | €447k | €515k | €411k | €470k | €456k | ▼ 2.9% |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves13 | €5k | €5k | €5k | €5k | €5k | = |
| Non-distributable reserves130/1 | €5k | €5k | €5k | - | - | - |
| Reserves not available under the articles1311 | €5k | €5k | €5k | - | - | - |
| Distributable reserves133 | - | - | - | €5k | €5k | = |
| Profit (loss) carried forward14 | €422k | €490k | €386k | €445k | €431k | ▼ 3.0% |
| Amounts payable17/49 | €927k | €776k | €422k | €292k | €281k | ▼ 3.6% |
| Amounts payable after more than one year17 | €485k | €384k | €281k | €177k | €71k | ▼ 59.7% |
| Financial debts170/4 | €485k | €384k | €281k | €177k | €71k | ▼ 59.7% |
| Amounts payable within one year42/48 | €442k | €392k | €141k | €115k | €210k | ▲ 82.6% |
| Current portion of amounts payable after more than one year42 | €150k | €101k | €103k | €104k | €106k | ▲ 1.5% |
| Financial debts43 | €290k | €290k | €35k | - | - | - |
| Credit institutions430/8 | €290k | €290k | €35k | - | - | - |
| Trade debts44 | €2k | €800 | €3k | €11k | €5k | ▼ 49.0% |
| Suppliers440/4 | €2k | €800 | €3k | €11k | €5k | ▼ 49.0% |
| Taxes, remuneration and social security45 | €316 | €316 | €316 | €316 | - | - |
| Taxes450/3 | €316 | €316 | €316 | €316 | - | - |
| Other amounts payable47/48 | - | - | - | - | €99k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €428k | €68k | €-104k | €58k | €-13k | ▼ 123% |
| Operating cash flow (approximation) | €428k | €68k | €-104k | €58k | €-13k | ▼ 123% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €192 | €13k | €-72k | €-20k | ▲ 72.8% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Back to profitnet €58k
Net result €58k after one loss-making year.
05-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 127 days late
2023
31-12
Financial
Weakest financial yearnet €-104k
Net result drops to €-104k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Equity above €500kEq €515k ▲15.3%
2 profitable years in a row build equity to €515k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €428k
Net result €428k after one loss-making year.
31-12
Financial
Equity above €200kEq €447k ▲2,272%
Equity rises from €19k to €447k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
Show earlier events
2019
31-12
Financial
Back to profitnet €32k
Net result €32k after one loss-making year.
29-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 151 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 61 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, Berlaar · 1 establishment unit since 2015
Ground area
440 m²
Building footprint
170 m²
Volume, LiDAR
963 m³
Parcel 12002D0301/00F002, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Project A
since 20152.246.878.504
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12002D0301/00F002 | Flanders | 440 m² | 1 · 170 m² | 8.4 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.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,385. 4,809 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
Founded26-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.