Project-E
ActiveThe computed 12-month bankruptcy probability of Project-E is 2.5% (moderate). The 2024 annual accounts show equity of €82k and a net result of €-8k. Equity is growing by ~32.4% per year across the filed fiscal years. Its solvency ranks better than 19% of 9981 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
41
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability24▼-17
Solvency36▲+1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days only on tighter terms
Liquidity ample (current ratio 7.58 against 2.95 in 2023; short-term debt: 12.4% and cash: 0.7% of total assets), but 89.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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 2024Solvency, return and age of the figures
Solvency
10.6%
Return on assets
-1.1%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 9981 sector peers (2024).
NBB · sector comparisonPosition among 9981 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
65 d late
2022
66 d late
2021
30 d late
2020
2 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€82k▼ 9.1%
2023 · €91k
2020: €21k
2021: €58k
2022: €65k
2023: €91k
2020 → 2024
Total assets
€782k▼ 16.2%
2023 · €932k
2020: €320k
2021: €551k
2022: €630k
2023: €932k
2020 → 2024
Net result
€-8k
2023 · €26k
2020: €16k
2021: €36k
2022: €7k
2023: €26k
2020 → 2024
Working capital
€637k▲ 9.4%
2023 · €582k
2020: €178k
2021: €375k
2022: €386k
2023: €582k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€21k-€58k▲ 169%€65k▲ 11.8%€91k▲ 40.3%€82k▼ 9.1%
Operating result€22k-€64k▲ 186%€25k▼ 61.3%€62k▲ 149%€24k▼ 61.1%
Net result€16k-€36k▲ 121%€7k▼ 81.2%€26k▲ 282%€-8k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 61% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €782k
Fixed assets
€48k▼ 5.7%
Current assets
€734k▼ 16.8%
Equity and liabilities €782k
Equity
€82k▼ 9.1%
Debt
€699k▼ 16.9%
The debt ratio falls from 90.3% to 89.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€27k▼
2023 · €67k
Cash flow
€-5k▼
2023 · €31k
Solvency
10.6%▲
2023 · 9.7%
Current ratio
7.58▲
2023 · 2.95
Quick ratio
5.59▲
2023 · 2.06
Debt / equity
8.48▼
2023 · 9.28
ROE
-10.0%▼
2023 · 28.7%
ROA
-1.1%▼
2023 · 2.8%
Interest coverage
0.84▼
2023 · 2.31
Debt
€699k▼
2023 · €842k
Debt ≤ 1 year
€97k▼
2023 · €299k
Debt > 1 year
€575k▲
2023 · €540k
Income taxes
€0▼
2023 · €7k
Staff costs
€55k▼
2023 · €63k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€932k€782k▼
Fixed assets21/28€51k€48k▼
Tangible fixed assets22/27€51k€48k▼
Land and buildings22€51k€48k▼
Plant, machinery and equipment23€0-
Current assets29/58€881k€734k▼
Stocks and contracts in progress3€264k€192k▼
Stocks30/36€650€439▼
Contracts in progress37€263k€192k▼
Amounts receivable within one year40/41€606k€533k▼
Trade receivables40€594k€530k▼
Other amounts receivable41€11k€3k▼
Cash at bank and in hand54/58€9k€6k▼
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€932k€782k▼
Equity10/15€91k€82k▼
Contributions10/11€5k€5k=
Reserves13€50k€50k=
Distributable reserves133€50k€50k=
Profit (loss) carried forward14€36k€27k▼
Amounts payable17/49€842k€699k▼
Amounts payable after more than one year17€540k€575k▲
Financial debts170/4€540k€575k▲
Amounts payable within one year42/48€299k€97k▼
Current portion of amounts payable after more than one year42€5k€14k▲
Financial debts43€75k€0▼
Credit institutions430/8€75k€0▼
Trade debts44€88k€13k▼
Suppliers440/4€88k€13k▼
Advances received on contracts in progress46€64k€28k▼
Taxes, remuneration and social security45€13k€10k▼
Taxes450/3€10k€8k▼
Remuneration and social security454/9€3k€2k▼
Other amounts payable47/48€55k€32k▼
Accrued charges and deferred income492/3€3k€28k▲
Income statement
Code20232024
Remuneration, social security and pensions62€63k€55k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€3k▼
Other operating charges640/8€288€304▲
Gross operating margin9900€130k€82k▼
Operating profit (loss)9901€62k€24k▼
Financial income75/76B€74€5▼
Recurring financial income75€74€5▼
Financial charges65/66B€29k€32k▲
Recurring financial charges65€29k€32k▲
Profit (loss) for the period before taxes9903€33k€-8k▼
Income taxes67/77€7k€0▼
Profit (loss) for the period9904€26k€-8k▼
Profit (loss) for the period to be appropriated9905€26k€-8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€36k€27k▼
Profit (loss) brought forward from the previous period14P€10k€36k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Weakest financial yearnet €-8k ▼132%
Net result drops to €-8k, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 7.58
Current ratio from 2.95 to 7.58; short-term debt falls from €299k to €97k.
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 66 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2020net €36k ▲121%
Operating result €64k, net result €36k, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Middelkerke · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Tamariskenlaan 18430 MiddelkerkeGround area
494 m²
Building footprint
199 m²
Volume, LiDAR
572 m³
Parcel 35322C0283/00L026, Flanders · tallest building 5.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Project-E
since 20202.298.964.534
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35322C0283/00L026 | Flanders | 494 m² | 1 · 199 m² | 5.2 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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DELMULLE BRUNO
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Of 29,801 companies in sector 41001 we hold annual accounts for 16,045. 13,191 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-01-2020
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
41003General construction of other non-residential buildings
43211General electrical installation work
43221Plumbing work
43230Insulation installation
43291Specialised construction activities
43310Plastering work
43320Joinery installation
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.