PROJECT DEVELOPERS
ActiveSummary
PROJECT DEVELOPERS has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€36,144) and a net result of -€161,954. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 9268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability24▲+9
Solvency25▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.99 against 0.98 in 2024; short-term debt: 100.3% and cash: 3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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
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 →
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 2025Solvency, return and age of the figures
Solvency
-0.3%
Return on assets
-1.5%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€36,144
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 29-07-2026, 2 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
2 d early
2024
31 d early
2023
32 d early
2022
54 d early
2021
47 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€36,144▲ 79.2%
2024 · -€174,190
Total assets
€10.8m▼ 21.8%
2024 · €13.8m
Net result
-€161,954▲ 56.2%
2024 · -€369,829
Working capital
-€103,152▲ 59.5%
2024 · -€254,973
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-€59,507-€227,382€79,112▼ 65.2%-€223,226€626,979
Net result-€66,303-€159,853€2,089▼ 98.7%-€369,829-€161,954▲ 56.2%
Equity€33,697-€193,550▲ 474%€195,639▲ 1.1%-€174,190-€36,144▲ 79.2%
Total assets€2.7m-€4.4m▲ 62.8%€5.2m▲ 20.4%€13.8m▲ 163%€10.8m▼ 21.8%
Debt€2.6m-€4.2m▲ 57.6%€5.0m▲ 21.3%€13.9m▲ 176%€10.8m▼ 22.5%
Working capital€20,317-€195,233▲ 861%€88,355▼ 54.7%-€254,973-€103,152▲ 59.5%
Staff (FTE)1.84.7▲ 161%2.8▼ 40.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €626,979 after a loss of €223,226 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.8m
Fixed assets
€70,346 ▼ 32.6%
Current assets
€10.7m ▼ 21.7%
Key figures and ratios
EBITDA
€678,577▲
2024 · -€192,809
Cash flow
-€110,356▲
2024 · -€339,412
Solvency
-0.3%▲
2024 · -1.3%
Current ratio
0.99▲
2024 · 0.98
Quick ratio
0.47▲
2024 · 0.28
ROA
-1.5%▲
2024 · -2.7%
Interest coverage
0.86▲
2024 · -1.31
Debt ≤ 1 year
€10.8m▼
2024 · €13.9m
Debt > 1 year
€1,970▼
2024 · €22,250
Income taxes
€4,934▲
2024 · €408
Staff costs
€88,286▼
2024 · €248,815
A ratio outside any meaningful range has been withheld (balance sheet total €10.8m, equity -€36,144).
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €62,784 | €106,906 | €248,815 | €88,286 | ▼ 64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,410 | €5,695 | €15,115 | €30,417 | €51,598 | ▲ 69.6% |
| Other operating charges640/8 | - | - | €13,881 | €63,511 | €71,579 | ▲ 12.7% |
| Gross operating margin9900 | -€7,458 | €295,861 | €215,014 | €119,518 | €838,442 | ▲ 602% |
| Operating profit (loss)9901 | -€59,507 | €227,382 | €79,112 | -€223,226 | €626,979 | ▲ 381% |
| Financial income75/76B | - | €78 | €31 | €449 | €2,117 | ▲ 372% |
| Recurring financial income75 | €6 | €78 | €31 | €449 | €2,117 | ▲ 372% |
| Financial charges65/66B | - | €43,047 | €73,922 | €146,645 | €786,116 | ▲ 436% |
| Recurring financial charges65 | €6,802 | €43,047 | €73,922 | €146,645 | €786,116 | ▲ 436% |
| Profit (loss) for the period before taxes9903 | -€66,303 | €184,413 | €5,221 | -€369,422 | -€157,021 | ▲ 57.5% |
| Income taxes67/77 | - | €24,560 | €3,132 | €408 | €4,934 | ▲ 1,111% |
| Profit (loss) for the period9904 | -€66,303 | €159,853 | €2,089 | -€369,829 | -€161,954 | ▲ 56.2% |
| Profit (loss) for the period to be appropriated9905 | -€66,303 | €159,853 | €2,089 | -€369,829 | -€161,954 | ▲ 56.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €4.4m | €5.2m | €13.8m | €10.8m | ▼ 21.8% |
| Fixed assets21/28 | €29,909 | €28,235 | €130,478 | €104,401 | €70,346 | ▼ 32.6% |
| Intangible fixed assets21 | €10,680 | €7,819 | €7,598 | €4,156 | €1,043 | ▼ 74.9% |
| Tangible fixed assets22/27 | €13,106 | €14,592 | €117,140 | €98,134 | €57,782 | ▼ 41.1% |
| Plant, machinery and equipment23 | - | €12,825 | €26,559 | €22,337 | €10,420 | ▼ 53.4% |
| Furniture and vehicles24 | - | €1,767 | €90,581 | €75,796 | €47,362 | ▼ 37.5% |
| Financial fixed assets28 | €6,124 | €5,824 | €5,740 | €2,112 | €11,522 | ▲ 446% |
| Current assets29/58 | €2.6m | €4.3m | €5.1m | €13.7m | €10.7m | ▼ 21.7% |
| Stocks and contracts in progress3 | €2.1m | €3.2m | €2.9m | €9.7m | €5.6m | ▼ 42.7% |
| Contracts in progress37 | - | €3.2m | €2.9m | €9.7m | €5.6m | ▼ 42.7% |
| Amounts receivable within one year40/41 | €21,330 | €286,866 | €606,724 | €2.8m | €4.7m | ▲ 69.1% |
| Trade receivables40 | - | €34,639 | €39,676 | €1.9m | €3.5m | ▲ 86.4% |
| Other amounts receivable41 | - | €252,228 | €567,049 | €884,440 | €1.2m | ▲ 32.0% |
| Cash at bank and in hand54/58 | €491,689 | €798,546 | €1.2m | €691,613 | €324,694 | ▼ 53.1% |
| Deferred charges and accrued income490/1 | - | €65,965 | €344,288 | €463,496 | €108,100 | ▼ 76.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €4.4m | €5.2m | €13.8m | €10.8m | ▼ 21.8% |
| Equity10/15 | €33,697 | €193,550 | €195,639 | -€174,190 | -€36,144 | ▲ 79.2% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €400,000 | ▲ 300% |
| Profit (loss) carried forward14 | -€66,303 | €93,550 | €95,639 | -€274,190 | -€436,144 | ▼ 59.1% |
| Amounts payable17/49 | €2.6m | €4.2m | €5.0m | €13.9m | €10.8m | ▼ 22.5% |
| Amounts payable after more than one year17 | - | - | €21,826 | €22,250 | €1,970 | ▼ 91.1% |
| Financial debts170/4 | - | - | €21,826 | €22,250 | €1,970 | ▼ 91.1% |
| Amounts payable within one year42/48 | €2.6m | €4.1m | €5.0m | €13.9m | €10.8m | ▼ 22.4% |
| Current portion of amounts payable after more than one year42 | - | €2.2m | €2.6m | €6.9m | €7.9m | ▲ 14.6% |
| Financial debts43 | - | - | - | - | €3,063 | - |
| Credit institutions430/8 | - | - | - | - | €3,063 | - |
| Trade debts44 | €372,599 | €525,810 | €1.0m | €5.6m | €2.9m | ▼ 49.3% |
| Suppliers440/4 | - | €525,810 | €1.0m | €5.6m | €2.9m | ▼ 49.3% |
| Taxes, remuneration and social security45 | - | €61,432 | €233,999 | €403,983 | €14,661 | ▼ 96.4% |
| Taxes450/3 | - | €52,987 | €221,100 | €364,276 | €2,598 | ▼ 99.3% |
| Remuneration and social security454/9 | - | €8,446 | €12,899 | €39,707 | €12,062 | ▼ 69.6% |
| Other amounts payable47/48 | - | €1.3m | €1.2m | €957,811 | - | - |
| Accrued charges and deferred income492/3 | - | €29,917 | €1,368 | €1,368 | €1,368 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€66,303 | €159,853 | €2,089 | -€369,829 | -€161,954 | ▲ 56.2% |
| + Depreciation and write-downs630 | €5,410 | €5,695 | €15,115 | €30,417 | €51,598 | ▲ 69.6% |
| Operating cash flow (approximation) | -€60,893 | €165,548 | €17,204 | -€339,412 | -€110,356 | ▲ 67.5% |
| Investment in fixed assets (approximation) | - | -€4,021 | -€117,358 | -€4,341 | -€17,543 | ▼ 304% |
| Change in cash | - | €306,856 | €428,423 | -€535,355 | -€366,919 | ▲ 31.5% |
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
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€369,829
Net result drops to -€369,829, the lowest in the series; recovery starts the following year.
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
07-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Back to profitnet €159,853
Net result €159,853 after one loss-making year.
31-03
Financial
Equity above €150,000Eq €193,550 ▲474%
Equity rises from €33,697 to €193,550.
2021
14-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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 2022
Ground area
2,588 m²
Parcel 24514B0181/00Z000, Flanders. Linked by address, not a title deed.
1 establishment unit
Grauwmeer 1/46, 3001 Leuven
since 20222.338.418.392
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24514B0181/00Z000 | Flanders | 2,588 m² | - | - |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 5,047 EUR awarded · 5,047 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 140 EUR |
| 2024 | 1 | 2,414 EUR | 2,274 EUR |
| 2023 | 1 | 2,444 EUR | 2,444 EUR |
| 2022 | 1 | 189 EUR | 189 EUR |
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,384. 5,336 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
Founded24-06-2019
Fiscal year end31-12
Abbreviation NL
P & D
Activities, NACEBEL 2025
68121Development of residential building projects
Scores and ratios are computed by Checked and are not a credit decision.