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Project-E

Active Private limited companyfounded 2020active for 6 yearsTamariskenlaan 1, 8430 MiddelkerkeKBO/BCE: BE 0742.800.858
Project-E
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Overview

Lifetime

6 annual accounts with figures on one time axis
peak €130,041 (2023)
€46,655▼ 43.0%
lowest -€23,808 (2025)
-€23,808▼ €15,555
peak €90,727 (2023)
€58,666▼ 28.9%
€726,017▲ 3.8%
peak 1.7 FTE (2020)
-not published
Board1 name since 2020
1 directorVan Den Broucke Eddy
Documentsfilings and deeds
02-10-202663 days late
2025micro format
Gross margin from €81,832 to €46,655Loss of €23,808Equity from €82,474 to €58,666Cash from €5,582 to €0

Key points

from the 2025 annual accounts

Losses

-€32,061 in two years
-8,2532024-23,8082025

The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.

Debts

€726,017 93% of the balance sheet
Financial debts 87%Suppliers 1%Taxes and wages 0%Other 12%

Of this, €103,971 falls due within a year.

Filings

6 annual accounts 63 days
AprilJune31 JulyOctober202020222024

Latest accounts filed late: after the legal deadline.

Checked score

34
Weak
Financially stronger than 24% of micro companies in construction of buildings (NACE 41)
Probability in this band: 4.2% to 15.0%
Bankruptcy probability within 12 months
6.4% Elevated
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 1.5% across 13,457 companies (NACE 41, micro).

About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 3.1% 01-2025: 3.1%● unchanged vs 12-2024 02-2025: 3.2%▲ +0.1 percentage points vs 01-2025 03-2025: 3.2%● unchanged vs 02-2025 04-2025: 3.2%● unchanged vs 03-2025 05-2025: 3.3%▲ +0.1 percentage points vs 04-2025 06-2025: 3.6%▲ +0.3 percentage points vs 05-2025 07-2025: 3.7%▲ +0.1 percentage points vs 06-2025 08-2025: 4.1%▲ +0.4 percentage points vs 07-2025 09-2025: 4.1%● unchanged vs 08-2025 10-2025: 3.2%▼ -0.9 percentage points vs 09-2025 11-2025: 3.2%● unchanged vs 10-2025 12-2025: 3.2%● unchanged vs 11-2025 01-2026: 3.3%▲ +0.1 percentage points vs 12-2025 02-2026: 3.4%▲ +0.1 percentage points vs 01-2026 03-2026: 3.4%● unchanged vs 02-2026 04-2026: 3.4%● unchanged vs 03-2026 05-2026: 3.0%▼ -0.4 percentage points vs 04-2026lowest value 06-2026: 3.2%▲ +0.2 percentage points vs 05-2026 07-2026: 3.4%▲ +0.2 percentage points vs 06-2026 08-2026: 3.7%▲ +0.3 percentage points vs 07-2026 09-2026: 3.7%● unchanged vs 08-2026 10-2026: 6.4%▲ +2.7 percentage points vs 09-2026highest value 11-2026: 6.4%● unchanged vs 10-2026highest value

Financial strength
Weak

32-4equity 7.5% of total assets
48-1short-term debt 13.3% · cash 0.0%
15-9return on assets -3.0%

Score breakdown

raises risk
Liquidity: current ratio 7.11, cash €0, halved
Last filed accounts filed 63 days late; 3 of the last 3 accounts late
Sector: Construction of residential and non-residential buildings (NACE 41)
Founded in 2020
Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 16% of them on solvency, 47% on liquidity, 15% on profitability and 16% on growth.

The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 849 companies had the same profile as Project-E has now. Each dot stands for 3 companies, two years later.

91.9%
were still trading
3.3%
stopped another way
4.7%
went bankrupt
  • Micro
  • 5 to 10 years old
  • solvency under 10%
  • a small loss

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of Project-E itself is higher: 6.4% within 12 months. It rests on far more data about Project-E than the profile alone.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 849 companies, not a prediction for Project-E. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €1,500 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms

Liquidity is ample, with a current ratio of 7.11 (7.58 in 2024), above the usual 1.5. Short-term debt is 13.3% and cash 0% of total assets. However, 92.5% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Seven signals.
raises risk
raises risk · Liquidity: current ratio 7.11, cash €0, halved
NBB · annual accounts
raises risk · Last filed accounts filed 63 days late; 3 of the last 3 accounts late
NBB · filings
raises risk · Sector: Construction of residential and non-residential buildings (NACE 41)
KBO
raises risk · Founded in 2020
Companies of this age fail more often than older ones. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
202122232425
2020 to 2025 · latest year -€23,808
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 9435 sector peers (2025).
NBB · sector comparison
Position among 9435 sector peers
Solvency
better than 17%
← weakest strongest →
raises risk · 2025 accounts filed 63 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-10-2026, 63 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 6 filings
Deviation from the deadline
2025
63 days late
2024
60 days late
2023
65 days late
2022
66 days late
2021
30 days late
2020
2 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 6 accounts on average 47 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 2 October (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

VD
Van Den Broucke Eddy
Director, since 31-01-2020
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0742800858
Incorporation published on 04-02-2020 · Gazette deed
First establishment Tamariskenlaan 1, Middelkerke
All 12 events

Comparable companies

same main activity, similar in size and age
Company
Project-E Middelkerke €784,684 €46,655 7.5% -
DEMA & ARBER CONSTRUCT Roeselare €764,649 €40,456 27.8% -
PURATEK Zedelgem €796,673 €52,276 31.0% -
Bekentenissen Koksijde €696,632 €43,616 3.5% -
Goossens Building Hechtel-Eksel €718,024 €52,204 7.8% -
KOLEA DESIGN Anderlecht €826,780 €52,125 26.8% -
BUILDING GAB Vilvoorde €779,837 €40,193 26.0% -

These companies have the same main activity as Project-E: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €697,000 and €827,000, founded between 2018 and 2021.

Official details

Source: KBO
Status
Active since 31-01-2020Normal situation
Activity
General construction of residential buildingsNACE 41001and 7 others
Joint committee
124Construction · annual accounts 2025
Establishment unit
2.298.964.5348430 Middelkerke, since 31-01-2020
Financial year end
31 December
Peppol
Reachable since 26-11-2025
Company details

Annual accounts 2025

€46,655▼ 43.0%
≈ €330,000estimated
€23,808▲ 188%
€58,666▼ 28.9%
€784,684▲ 0.4%
Employeeson 31-12-2025
1=
Filing
Filed on 02-10-2026
Financials

Insights on Project-E

Project-E files the micro format. That format states no turnover. The gross margin fell from €87,814 in 2020 to €46,655 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 02-10-2026, 63 days late
€46,655
▼ 43.0%
-€4,976
▼ €29,063
-€23,808
▼ €15,555
€635,439
▼ 0.2%
7.5%
▼ 3.1 percentage points
7.11
▼ 0.47

Turnover 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 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with 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.

Project-E Middle half of the sector 80% of the sector Micro accounts in construction of buildings (NACE 41)

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

people who joined people who left

In 2025, nobody joined and nobody left.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020
Balance sheet: assets
20/58 784,684781,711932,383629,541550,740319,528
21/28 45,27448,20751,14055,88562,2278,629
22/27 45,27448,20751,14055,88562,2278,629
22 45,27448,20751,14054,07457,007-
23 --01,8115,2208,629
29/58 739,410733,504881,242573,656488,513310,899
3 489192,445264,0883210263,058
30/36 4894396503210263,058
37 0192,006263,439---
40/41 735,966532,516605,614522,438479,3019,748
40 730,252529,547594,429512,157473,3761,107
41 5,7142,96911,18510,2815,9258,641
54/58 05,5828,93048,3056,56735,270
490/1 2,9552,9612,6102,5922,6442,822
Balance sheet: equity and liabilities
10/49 784,684781,711932,383629,541550,740319,528
10/15 58,66682,47490,72764,66257,83521,476
10/11 5,0005,0005,0005,0005,0005,000
13 50,00050,00050,00050,00050,00015,000
133 50,00050,00050,00050,00050,00015,000
14 3,66627,47435,7279,6622,8351,476
17/49 726,017699,237841,656564,879492,905298,052
17 608,171574,767539,620374,464379,230165,000
170/4 608,171574,767539,620374,464379,23075,000
178/9 ----090,000
42/48 103,97196,760299,221188,101113,051132,826
42 14,59614,1034,8444,7664,688-
43 25,526075,00075,00075,000100,000
430/8 25,526075,00075,00075,000100,000
44 4,61012,70788,07160,0311,92423,417
440/4 4,61012,70788,07160,0311,92423,417
46 39,48128,16563,500---
45 1,9399,51612,63420,33019,0957,538
450/3 8347,5109,54917,43916,0054,250
454/9 1,1052,0053,0852,8913,0903,288
47/48 17,82032,26955,17227,97412,3431,871
492/3 13,87527,7092,8152,314624226
Income statement
9900 46,65581,832130,04170,992124,85987,814
62 48,38654,50763,04539,47852,98163,306
630 2,9332,9334,7456,3426,9021,598
640/8 312304288269696429
9901 -4,97624,08761,96324,90364,28022,482
75/76B 9574978513
75 9574978513
65/66B 18,84132,34428,87016,36514,4162,269
65 18,84132,34428,87016,36514,4162,269
9903 -23,808-8,25333,1678,54749,94220,726
67/77 -07,1031,71913,5844,250
9904 -23,808-8,25326,0656,82836,35916,476
9905 -23,808-8,25326,0656,82836,35916,476
Appropriation of the result
9906 3,66627,47435,7279,66237,83516,476
14P 27,47435,7279,6622,8351,476-
691/2 ---035,00015,000
6921 ---035,00015,000
Social balance sheet
9087 11111.41.7
Hours worked1013 1,2481,5201,8161,1841,6402,012
Document PDFPDFPDFPDFPDFPDF

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.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 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 PDF
31-12-2024 micro format 29-09-2025 2025-00508830 PDF
31-12-2023 micro format 04-10-2024 2024-00492567 PDF
31-12-2022 micro format 05-10-2023 2023-00472346 PDF
31-12-2021 micro format 30-08-2022 2022-20345042 PDF
31-12-2020 micro format 29-07-2021 2021-42400211 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020
-2,04227,02066,70831,24571,18224,079
-20,874-5,32030,80913,17043,26118,074
000060,50010,227
-5,582-3,348-39,37541,739-28,703-
635,439636,744582,021385,555375,462178,073
7.5%10.6%9.7%10.3%10.5%6.7%
7.117.582.953.054.322.34
7.115.592.063.054.320.36
12.388.489.288.748.5213.88
-40.6%-10.0%28.7%10.6%62.9%76.7%
-3.0%-1.1%2.8%1.1%6.6%5.2%
-0.110.842.311.914.94-

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

Item31-12-202531-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date11111
full-time11111
part-time00000
in full-time equivalents11111
11111.4
On a permanent contract11111
Joined0--00
Left0--01
Training hours0-0145-

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20252024202320222021
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
Item20252024202320222021
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.

Board & ownership

Board

1 director
Van Den Broucke Eddy
Director
since 31-01-2020
listed in the 2025 annual accounts, filed on 02-10-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Van Den Broucke Eddy
Director
Board
Mandates as a list
  • Van Den Broucke Eddy
    • Director, from 31-01-2020 to date

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€5,000
Source
2025 annual accounts

Network & group

No group

Project-E has no parent and no holdings in its annual accounts. Van Den Broucke Eddy is the only director. Project-E shares no director with another company.

At the same address

Tamariskenlaan 1, 8430 Middelkerke · 2 other companies
SYQ
registered office since 31-01-2012 · founded in 2012
 11 FTE (2025)
0843.259.008
Middelkerke viert
registered office since 06-10-2022
 founded in 2022
0792.152.181

Timeline

Timeline

12 events since 2020

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 63 days late
2025
Weakest financial year net -€23,808 The net result drops to -€23,808, the lowest from 2020 to 2025.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0742800858
Annual accounts 2024 filed PDFmicro format · 60 days late
2024
Liquidity more than doubled current ratio 7.58 The current ratio rises from 2.95 to 7.58. Short-term debt falls from €299,221 to €96,760.
Annual accounts 2023 filed PDFmicro format · 65 days late
2023
Annual accounts 2022 filed PDFmicro format · 66 days late
2022
Annual accounts 2021 filed PDFmicro format · 30 days late
2021
Highest result from 2020 to 2025 net €36,359 ▲121% The operating result of €64,280 and the net result of €36,359 are both a record.
Annual accounts 2020 filed PDFmicro format · 2 days before the deadline
2020
Incorporation PDFpublished on 04-02-2020
First establishment Tamariskenlaan 1, Middelkerke

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 31 January 2020, Project-E was incorporated as a private limited company.1 Total assets went from €319,528 in 2020 to €784,684 in 2025 and headcount from 1.7 to 1 full-time equivalents.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2020 and 2025

Company details

Identity

Enterprise number
0742.800.858
VAT number
BE 0742.800.858
Peppol ID
0208:0742800858
Other Peppol ID
9925:BE0742800858
Legal form
Private limited company
Status
Active, normal situation
Founded
31-01-2020
Financial year
ends on 31 December
Peppol
Reachable since 26-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
Project-E in Dutch
Entity type
Legal entity

Activities

NACEBEL 2025
VAT activities
41001 General construction of residential buildings main activity
41003 General construction of other non-residential buildings
43211 General electrical installation work
43221 Plumbing work
43230 Insulation installation
43310 Plastering work
43320 Joinery installation
43350 Other building finishing work
Social security (RSZ) activities
41001 General construction of residential buildings main activity
Joint committees annual accounts 2025
JC 124 Construction
Codes under NACEBEL 2008
VAT activities
41201 General construction of buildings main activity
41203 Construction of residential and non-residential buildings
43211 Specialised construction activities
43221 Plumbing
43291 Specialised construction activities
43310 Plastering work
43320 Joinery installation
43390 Specialised construction activities
Social security (RSZ) activities
41201 General construction of buildings main activity

Registered office and establishments

1 establishment
Establishment Since Unit number
Tamariskenlaan 1 registered office 8430 Middelkerke 31-01-2020 2.298.964.534

Buildings and parcels at the address

Ground area
494 m²
Buildings
199 m²
Volume, LiDAR
572 m³
Tallest building
5.2 m
Buildings to scale, each on its own parcel
199 m², 5.2 m 199 m², 5.2 m

Location

registered office establishment The establishment unit on the map
3 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
35322C0283/00L026494 m² 1 · 199 m² 5.2 m · 1

Invoicing and payment

Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0742.800.858

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