PROJECT DEVELOPERS
Annual accounts 2025
abbreviated format, filed on 29-07-2026, 2 days before the deadlineTurnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.5m. Estimated: probably between €1.1m and €2.4m.
Balance sheet
balance sheet total €10.8m on 31-12-2025in euro
in euro
Position in the sector
-0.3%
Higher than 17% of 11,297 companies in 2025.
0.99
Higher than 44% of 10,849 companies in 2025.
-1.5%
Higher than 27% of 11,182 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: middle half · Staff: top quarter
Staff
€31,531
Staff costs divided by the average number of full-time equivalents.
-4 people
In 2025, 2 people joined and 6 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
10.8m | 13.8m | 5.2m | 4.4m | 2.7m | |
21/28 |
70,346 | 104,401 | 130,478 | 28,235 | 29,909 | |
21 |
1,043 | 4,156 | 7,598 | 7,819 | 10,680 | |
22/27 |
57,782 | 98,134 | 117,140 | 14,592 | 13,106 | |
23 |
10,420 | 22,337 | 26,559 | 12,825 | 10,845 | |
24 |
47,362 | 75,796 | 90,581 | 1,767 | 2,260 | |
28 |
11,522 | 2,112 | 5,740 | 5,824 | 6,124 | |
29/58 |
10.7m | 13.7m | 5.1m | 4.3m | 2.6m | |
3 |
5.6m | 9.7m | 2.9m | 3.2m | 2.1m | |
37 |
5.6m | 9.7m | 2.9m | 3.2m | 2.1m | |
40/41 |
4.7m | 2.8m | 606,724 | 286,866 | 21,330 | |
40 |
3.5m | 1.9m | 39,676 | 34,639 | 21,302 | |
41 |
1.2m | 884,440 | 567,049 | 252,228 | 27 | |
54/58 |
324,694 | 691,613 | 1.2m | 798,546 | 491,689 | |
490/1 |
108,100 | 463,496 | 344,288 | 65,965 | 13,154 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
10.8m | 13.8m | 5.2m | 4.4m | 2.7m | |
10/15 |
-36,144 | -174,190 | 195,639 | 193,550 | 33,697 | |
10/11 |
400,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
14 |
-436,144 | -274,190 | 95,639 | 93,550 | -66,303 | |
17/49 |
10.8m | 13.9m | 5.0m | 4.2m | 2.6m | |
17 |
1,970 | 22,250 | 21,826 | - | - | |
170/4 |
1,970 | 22,250 | 21,826 | - | - | |
42/48 |
10.8m | 13.9m | 5.0m | 4.1m | 2.6m | |
42 |
7.9m | 6.9m | 2.6m | 2.2m | 1.5m | |
43 |
3,063 | - | - | - | - | |
430/8 |
3,063 | - | - | - | - | |
44 |
2.9m | 5.6m | 1.0m | 525,810 | 372,599 | |
440/4 |
2.9m | 5.6m | 1.0m | 525,810 | 353,579 | |
441 |
- | - | - | - | 19,020 | |
45 |
14,661 | 403,983 | 233,999 | 61,432 | 66,798 | |
450/3 |
2,598 | 364,276 | 221,100 | 52,987 | 62,449 | |
454/9 |
12,062 | 39,707 | 12,899 | 8,446 | 4,349 | |
47/48 |
- | 957,811 | 1.2m | 1.3m | 731,241 | |
492/3 |
1,368 | 1,368 | 1,368 | 29,917 | 16,529 | |
| Income statement | ||||||
9900 |
838,442 | 119,518 | 215,014 | 295,861 | -7,458 | |
62 |
88,286 | 248,815 | 106,906 | 62,784 | 46,589 | |
630 |
51,598 | 30,417 | 15,115 | 5,695 | 5,410 | |
640/8 |
71,579 | 63,511 | 13,881 | - | 50 | |
9901 |
626,979 | -223,226 | 79,112 | 227,382 | -59,507 | |
75/76B |
2,117 | 449 | 31 | 78 | 6 | |
75 |
2,117 | 449 | 31 | 78 | 6 | |
65/66B |
786,116 | 146,645 | 73,922 | 43,047 | 6,802 | |
65 |
786,116 | 146,645 | 73,922 | 43,047 | 6,802 | |
9903 |
-157,021 | -369,422 | 5,221 | 184,413 | -66,303 | |
67/77 |
4,934 | 408 | 3,132 | 24,560 | - | |
9904 |
-161,954 | -369,829 | 2,089 | 159,853 | -66,303 | |
9905 |
-161,954 | -369,829 | 2,089 | 159,853 | -66,303 | |
| Appropriation of the result | ||||||
9906 |
-436,144 | -274,190 | 95,639 | 93,550 | -66,303 | |
14P |
-274,190 | 95,639 | 93,550 | -66,303 | - | |
| Social balance sheet | ||||||
9087 |
2.8 | 4.7 | 1.8 | - | - | |
Hours worked1013 |
4,507 | 7,580 | 3,103 | - | - | |
| Document | ||||||
The notes to these accounts have 14 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-07-2026 | 2026-00345666 | |
| 31-03-2024 | abbreviated format | 30-09-2024 | 2024-00480021 | |
| 31-03-2023 | abbreviated format | 29-09-2023 | 2023-00460263 | |
| 31-03-2022 | abbreviated format | 07-09-2022 | 2022-20422186 | |
| 31-03-2021 | abbreviated format | 14-09-2021 | 2021-67200374 |
Subsidies and aid
Flemish government 2022 to 2025, 4 entries, €5,047 awarded, €5,047 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €0 | €140 |
| 2024 | 1 | €2,414 | €2,274 |
| 2023 | 1 | €2,444 | €2,444 |
| 2022 | 1 | €189 | €189 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 678,577 | -192,809 | 94,227 | 233,077 | -54,097 | ||
| -110,356 | -339,412 | 17,204 | 165,548 | -60,893 | ||
| 23,133 | 7,969 | 117,442 | 4,321 | 35,319 | ||
| -366,919 | -535,355 | 428,423 | 306,856 | - | ||
| -103,152 | -254,973 | 88,355 | 195,233 | 20,317 | ||
| -0.3% | -1.3% | 3.7% | 4.4% | 1.3% | ||
| 0.99 | 0.98 | 1.02 | 1.05 | 1.01 | ||
| 0.47 | 0.28 | 0.43 | 0.28 | 0.20 | ||
| - | - | 25.78 | 21.49 | 78.33 | ||
| - | - | 1.1% | 82.6% | -196.8% | ||
| -1.5% | -2.7% | 0.0% | 3.7% | -2.5% | ||
| 0.86 | -1.31 | 1.27 | 5.41 | - |
A ratio outside any meaningful range has been withheld (balance sheet total €10.8m, equity -€36,144).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-03-2024 | 31-03-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 5 | 2 |
| full-time | - | 5 | 2 |
| part-time | 1 | - | - |
| in full-time equivalents | 0.3 | 5 | 2 |
| 2.8 | 4.7 | 1.8 | |
| On a permanent contract | - | 5 | 2 |
| Joined | 2 | 4 | 2 |
| Left | 6 | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €8,133 | €7,969 | €114,537 | €4,321 |
| Intangible fixed assets | - | - | €2,905 | - |
| Financial fixed assets | €15,000 | - | - | - |
| €51,598 | €30,417 | €15,115 | €5,695 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on PROJECT DEVELOPERS
The operating result for 2025 is a profit of €626,979, after a loss of €223,226 in 2024. It is the highest result since 2021.
Equity is negative. Debt (€10.8m) exceeds the balance-sheet total (€10.8m).
- 2025 Net result +56% on 2024. This financial year ran 21 months, the previous one 12.
- 2025 Equity +79% on 2024. Capital increase of €300,000 (Official Gazette 26-11-2024).