Project-E
Annual accounts 2025
micro format, filed on 02-10-2026, 63 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €330,000. Estimated: probably between €180,000 and €600,000.
Balance sheet
balance sheet total €784,684 on 31-12-2025in euro
in euro
Position in the sector
7.5%
Higher than 17% of 9,435 companies in 2025.
7.11
Higher than 92% of 9,183 companies in 2025.
-3.0%
Higher than 19% of 9,255 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter
Staff
€48,386
Staff costs divided by the average number of full-time equivalents.
level
In 2025, nobody joined and nobody left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
784,684 | 781,711 | 932,383 | 629,541 | 550,740 | 319,528 | |
21/28 |
45,274 | 48,207 | 51,140 | 55,885 | 62,227 | 8,629 | |
22/27 |
45,274 | 48,207 | 51,140 | 55,885 | 62,227 | 8,629 | |
22 |
45,274 | 48,207 | 51,140 | 54,074 | 57,007 | - | |
23 |
- | - | 0 | 1,811 | 5,220 | 8,629 | |
29/58 |
739,410 | 733,504 | 881,242 | 573,656 | 488,513 | 310,899 | |
3 |
489 | 192,445 | 264,088 | 321 | 0 | 263,058 | |
30/36 |
489 | 439 | 650 | 321 | 0 | 263,058 | |
37 |
0 | 192,006 | 263,439 | - | - | - | |
40/41 |
735,966 | 532,516 | 605,614 | 522,438 | 479,301 | 9,748 | |
40 |
730,252 | 529,547 | 594,429 | 512,157 | 473,376 | 1,107 | |
41 |
5,714 | 2,969 | 11,185 | 10,281 | 5,925 | 8,641 | |
54/58 |
0 | 5,582 | 8,930 | 48,305 | 6,567 | 35,270 | |
490/1 |
2,955 | 2,961 | 2,610 | 2,592 | 2,644 | 2,822 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
784,684 | 781,711 | 932,383 | 629,541 | 550,740 | 319,528 | |
10/15 |
58,666 | 82,474 | 90,727 | 64,662 | 57,835 | 21,476 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
13 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 15,000 | |
133 |
50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 15,000 | |
14 |
3,666 | 27,474 | 35,727 | 9,662 | 2,835 | 1,476 | |
17/49 |
726,017 | 699,237 | 841,656 | 564,879 | 492,905 | 298,052 | |
17 |
608,171 | 574,767 | 539,620 | 374,464 | 379,230 | 165,000 | |
170/4 |
608,171 | 574,767 | 539,620 | 374,464 | 379,230 | 75,000 | |
178/9 |
- | - | - | - | 0 | 90,000 | |
42/48 |
103,971 | 96,760 | 299,221 | 188,101 | 113,051 | 132,826 | |
42 |
14,596 | 14,103 | 4,844 | 4,766 | 4,688 | - | |
43 |
25,526 | 0 | 75,000 | 75,000 | 75,000 | 100,000 | |
430/8 |
25,526 | 0 | 75,000 | 75,000 | 75,000 | 100,000 | |
44 |
4,610 | 12,707 | 88,071 | 60,031 | 1,924 | 23,417 | |
440/4 |
4,610 | 12,707 | 88,071 | 60,031 | 1,924 | 23,417 | |
46 |
39,481 | 28,165 | 63,500 | - | - | - | |
45 |
1,939 | 9,516 | 12,634 | 20,330 | 19,095 | 7,538 | |
450/3 |
834 | 7,510 | 9,549 | 17,439 | 16,005 | 4,250 | |
454/9 |
1,105 | 2,005 | 3,085 | 2,891 | 3,090 | 3,288 | |
47/48 |
17,820 | 32,269 | 55,172 | 27,974 | 12,343 | 1,871 | |
492/3 |
13,875 | 27,709 | 2,815 | 2,314 | 624 | 226 | |
| Income statement | |||||||
9900 |
46,655 | 81,832 | 130,041 | 70,992 | 124,859 | 87,814 | |
62 |
48,386 | 54,507 | 63,045 | 39,478 | 52,981 | 63,306 | |
630 |
2,933 | 2,933 | 4,745 | 6,342 | 6,902 | 1,598 | |
640/8 |
312 | 304 | 288 | 269 | 696 | 429 | |
9901 |
-4,976 | 24,087 | 61,963 | 24,903 | 64,280 | 22,482 | |
75/76B |
9 | 5 | 74 | 9 | 78 | 513 | |
75 |
9 | 5 | 74 | 9 | 78 | 513 | |
65/66B |
18,841 | 32,344 | 28,870 | 16,365 | 14,416 | 2,269 | |
65 |
18,841 | 32,344 | 28,870 | 16,365 | 14,416 | 2,269 | |
9903 |
-23,808 | -8,253 | 33,167 | 8,547 | 49,942 | 20,726 | |
67/77 |
- | 0 | 7,103 | 1,719 | 13,584 | 4,250 | |
9904 |
-23,808 | -8,253 | 26,065 | 6,828 | 36,359 | 16,476 | |
9905 |
-23,808 | -8,253 | 26,065 | 6,828 | 36,359 | 16,476 | |
| Appropriation of the result | |||||||
9906 |
3,666 | 27,474 | 35,727 | 9,662 | 37,835 | 16,476 | |
14P |
27,474 | 35,727 | 9,662 | 2,835 | 1,476 | - | |
691/2 |
- | - | - | 0 | 35,000 | 15,000 | |
6921 |
- | - | - | 0 | 35,000 | 15,000 | |
| Social balance sheet | |||||||
9087 |
1 | 1 | 1 | 1 | 1.4 | 1.7 | |
Hours worked1013 |
1,248 | 1,520 | 1,816 | 1,184 | 1,640 | 2,012 | |
| Document | |||||||
The notes to these accounts have 6 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 02-10-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 63 days after the deadline. Filed on 2 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00543174.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-10-2026 | 2026-00543174 | |
| 31-12-2024 | micro format | 29-09-2025 | 2025-00508830 | |
| 31-12-2023 | micro format | 04-10-2024 | 2024-00492567 | |
| 31-12-2022 | micro format | 05-10-2023 | 2023-00472346 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20345042 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-42400211 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| -2,042 | 27,020 | 66,708 | 31,245 | 71,182 | 24,079 | ||
| -20,874 | -5,320 | 30,809 | 13,170 | 43,261 | 18,074 | ||
| 0 | 0 | 0 | 0 | 60,500 | 10,227 | ||
| -5,582 | -3,348 | -39,375 | 41,739 | -28,703 | - | ||
| 635,439 | 636,744 | 582,021 | 385,555 | 375,462 | 178,073 | ||
| 7.5% | 10.6% | 9.7% | 10.3% | 10.5% | 6.7% | ||
| 7.11 | 7.58 | 2.95 | 3.05 | 4.32 | 2.34 | ||
| 7.11 | 5.59 | 2.06 | 3.05 | 4.32 | 0.36 | ||
| 12.38 | 8.48 | 9.28 | 8.74 | 8.52 | 13.88 | ||
| -40.6% | -10.0% | 28.7% | 10.6% | 62.9% | 76.7% | ||
| -3.0% | -1.1% | 2.8% | 1.1% | 6.6% | 5.2% | ||
| -0.11 | 0.84 | 2.31 | 1.91 | 4.94 | - |
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 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 | 0 | 0 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| 1 | 1 | 1 | 1 | 1.4 | |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | 0 | - | - | 0 | 0 |
| Left | 0 | - | - | 0 | 1 |
| Training hours | 0 | - | 0 | 145 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | - | - | - | - | €150,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €60,500 |
| €2,933 | €2,933 | €4,745 | €6,342 | €6,902 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on Project-E
The operating result for 2025 is a loss of €4,976, after a profit of €24,087 in 2024. It is the lowest result since 2020.
Debt's share of the balance-sheet total rises from 89.4% to 92.5%. Equity is lower and debt is higher.