PROJECT LEGACY
ActiveSummary
PROJECT LEGACY has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €61,998 and a net result of €11,604. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 38% of 1856 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability54▲+1
Solvency33▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity short (current ratio 0.11 against 0.27 in 2023; short-term debt: 27.9% and cash: 0.9% of total assets), and 92.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
7.8%
Return on assets
1.5%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
5 d early
2022
6 d early
2021
11 d early
2020
31 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 14 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€61,998▲ 23.0%
2023 · €50,394
Total assets
€796,626▲ 6.9%
2023 · €745,183
Net result
€11,604▲ 504%
2023 · €1,920
Working capital
-€197,054▼ 24.2%
2023 · -€158,674
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€5,208€15,161€10,051▼ 33.7%€13,111▲ 30.5%€34,889▲ 166%
Net result-€8,212within the sector's middle half€10,875within the sector's middle half€3,614within the sector's middle half▼ 66.8%€1,920within the sector's middle half▼ 46.9%€11,604within the sector's middle half▲ 504%
Equity€21,684within the sector's middle half▼ 27.5%€44,859within the sector's middle half▲ 107%€48,473within the sector's middle half▲ 8.1%€50,394within the sector's middle half▲ 4.0%€61,998within the sector's middle half▲ 23.0%
Total assets€149,871within the sector's middle half▼ 3.6%€327,093within the sector's middle half▲ 118%€542,015within the sector's middle half▲ 65.7%€745,183within the sector's middle half▲ 37.5%€796,626within the sector's middle half▲ 6.9%
Debt€128,187▲ 2.1%€282,234▲ 120%€493,542▲ 74.9%€694,790▲ 40.8%€734,628▲ 5.7%
Working capital-€53,747within the sector's middle half▼ 8.9%-€43,415within the sector's middle half▲ 19.2%-€95,901within the sector's middle half▼ 121%-€158,674below the sector's middle half▼ 65.5%-€197,054below the sector's middle half▼ 24.2%
Solvency14.5%within the sector's middle half▼ 4.8pp13.7%within the sector's middle half▼ 0.8pp8.9%within the sector's middle half▼ 4.8pp6.8%within the sector's middle half▼ 2.2pp7.8%within the sector's middle half▲ 1.0pp
Current ratio0.13below the sector's middle half▲ 0.040.27within the sector's middle half▲ 0.140.10below the sector's middle half▼ 0.170.27within the sector's middle half▲ 0.170.11below the sector's middle half▼ 0.15
Return on assets (ROA)-5.5%within the sector's middle half▼ 6.1pp3.3%within the sector's middle half▲ 8.8pp0.7%within the sector's middle half▼ 2.7pp0.3%within the sector's middle half▼ 0.4pp1.5%within the sector's middle half▲ 1.2pp
Staff (FTE)11=7.2▲ 620%
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 166% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €796,626
Fixed assets
€771,407 ▲ 12.2%
Current assets
€25,219 ▼ 56.0%
Equity and liabilities €796,626
Equity
€61,998 ▲ 23.0%
Debt
€734,628 ▲ 5.7%
Debt's share of the balance-sheet total falls from 93.2% to 92.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€77,481▲
2023 · €44,336
Cash flow
€54,196▲
2023 · €33,145
Debt to equity
11.85▼
2023 · 13.79
ROE
18.7%▲
2023 · 3.8%
Interest coverage
4.06▲
2023 · 4.03
Debt ≤ 1 year
€222,273▲
2023 · €216,025
Debt > 1 year
€506,505▲
2023 · €462,150
Income taxes
€4,225▲
2023 · €602
Staff costs
€25,157▼
2023 · €37,974
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,377 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.0%
went bankrupt
1.6%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,377 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1,572 | €32,731 | €37,974 | €25,157 | ▼ 33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,833 | €9,983 | €25,982 | €31,225 | €42,592 | ▲ 36.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €11,432 | - | - | - | - |
| Other operating charges640/8 | - | €807 | €2,315 | €11,792 | €5,547 | ▼ 53.0% |
| Gross operating margin9900 | €2,948 | €38,956 | €71,078 | €94,102 | €108,184 | ▲ 15.0% |
| Operating profit (loss)9901 | -€5,208 | €15,161 | €10,051 | €13,111 | €34,889 | ▲ 166% |
| Financial income75/76B | - | - | €1,052 | €410 | €15 | ▼ 96.4% |
| Recurring financial income75 | €4 | - | €1,052 | €410 | €15 | ▼ 96.4% |
| Financial charges65/66B | - | €3,599 | €6,217 | €10,999 | €19,075 | ▲ 73.4% |
| Recurring financial charges65 | €3,007 | €3,599 | €6,217 | €10,999 | €19,075 | ▲ 73.4% |
| Profit (loss) for the period before taxes9903 | -€8,211 | €11,562 | €4,886 | €2,523 | €15,829 | ▲ 528% |
| Income taxes67/77 | €1 | €687 | €1,271 | €602 | €4,225 | ▲ 602% |
| Profit (loss) for the period9904 | -€8,212 | €10,875 | €3,614 | €1,920 | €11,604 | ▲ 504% |
| Profit (loss) for the period to be appropriated9905 | -€8,212 | €10,875 | €3,614 | €1,920 | €11,604 | ▲ 504% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €149,871 | €327,093 | €542,015 | €745,183 | €796,626 | ▲ 6.9% |
| Fixed assets21/28 | €141,532 | €310,696 | €531,317 | €687,831 | €771,407 | ▲ 12.2% |
| Tangible fixed assets22/27 | €141,532 | €310,696 | €531,223 | €687,737 | €771,313 | ▲ 12.2% |
| Land and buildings22 | - | €69,000 | €69,000 | €69,000 | €771,313 | ▲ 1,018% |
| Other tangible fixed assets26 | - | €241,696 | €462,223 | €618,737 | €0 | ▼ 100% |
| Financial fixed assets28 | - | - | €94 | €94 | €94 | = |
| Current assets29/58 | €8,339 | €16,397 | €10,698 | €57,352 | €25,219 | ▼ 56.0% |
| Amounts receivable within one year40/41 | €6,900 | €1,522 | €9,403 | €41,695 | €17,709 | ▼ 57.5% |
| Trade receivables40 | - | €208 | €1,674 | €37,298 | €16,934 | ▼ 54.6% |
| Other amounts receivable41 | - | €1,313 | €7,729 | €4,398 | €776 | ▼ 82.4% |
| Cash at bank and in hand54/58 | €1,439 | €14,677 | €1,295 | €1,313 | €7,499 | ▲ 471% |
| Deferred charges and accrued income490/1 | - | €199 | - | €14,344 | €10 | ▼ 99.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €149,871 | €327,093 | €542,015 | €745,183 | €796,626 | ▲ 6.9% |
| Equity10/15 | €21,684 | €44,859 | €48,473 | €50,394 | €61,998 | ▲ 23.0% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €15,360 | €26,184 | €29,873 | €31,794 | €43,398 | ▲ 36.5% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €24,324 | €28,013 | €31,794 | €43,398 | ▲ 36.5% |
| Profit (loss) carried forward14 | €24 | €75 | - | - | - | - |
| Amounts payable17/49 | €128,187 | €282,234 | €493,542 | €694,790 | €734,628 | ▲ 5.7% |
| Amounts payable after more than one year17 | €66,102 | €222,254 | €386,212 | €462,150 | €506,505 | ▲ 9.6% |
| Financial debts170/4 | - | €222,254 | €386,212 | €462,150 | €506,505 | ▲ 9.6% |
| Amounts payable within one year42/48 | €62,085 | €59,812 | €106,599 | €216,025 | €222,273 | ▲ 2.9% |
| Current portion of amounts payable after more than one year42 | - | €21,316 | €29,191 | €30,487 | €40,707 | ▲ 33.5% |
| Trade debts44 | €17,208 | €6,802 | €36,891 | €40,866 | €28,461 | ▼ 30.4% |
| Suppliers440/4 | - | €6,802 | €36,891 | €40,866 | €28,461 | ▼ 30.4% |
| Taxes, remuneration and social security45 | - | €2,713 | €11,121 | €16,317 | €12,464 | ▼ 23.6% |
| Taxes450/3 | - | €1,561 | €3,073 | €4,844 | €7,088 | ▲ 46.3% |
| Remuneration and social security454/9 | - | €1,152 | €8,048 | €11,473 | €5,376 | ▼ 53.1% |
| Other amounts payable47/48 | - | €28,982 | €29,395 | €128,355 | €140,640 | ▲ 9.6% |
| Accrued charges and deferred income492/3 | - | €168 | €731 | €16,614 | €5,851 | ▼ 64.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,212 | €10,875 | €3,614 | €1,920 | €11,604 | ▲ 504% |
| + Depreciation and write-downs630 | €5,833 | €9,983 | €25,982 | €31,225 | €42,592 | ▲ 36.4% |
| Operating cash flow (approximation) | -€2,379 | €20,858 | €29,596 | €33,145 | €54,196 | ▲ 63.5% |
| Investment in fixed assets (approximation) | - | -€179,147 | -€246,603 | -€187,739 | -€126,168 | ▲ 32.8% |
| Change in cash | - | €13,238 | -€13,382 | €17 | €6,187 | ▲ 35,538% |
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
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €10,875
Net result €10,875 after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€8,212
Net result drops to -€8,212, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Oostende · 3 establishment units since 2014
Ground area
2,015 m²
Building footprint
343 m²
Volume, LiDAR
1,516 m³
3 parcels, Flanders, Wallonia · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
3 establishment units
PROJECT LEGACY
since 20142.228.136.025
Vakantiewoning De Ravers
since 20232.347.194.716
’t Vraagteken
since 20232.347.194.815
3 parcels
Flanders
2
(66.7%)
Wallonia
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83004C0985/00C003 | Wallonia | 942 m² | 1 · 102 m² | - |
| 35382D0795/00R007 | Flanders | 756 m² | 1 · 174 m² | 7.9 m · 2 fl. |
| 35383C0427/00N002 | Flanders | 316 m² | 1 · 68 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ONDERLINGE DIENST VOOR HUISVESTING
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Middelkerke · Eq €62,356
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BE 1009.162.858
Verviers · Eq €61,600
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BE 0777.402.837
Houthulst · Eq €63,064
NORCEL BELGIUM
BE 0443.759.954
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IMMOMEDA
BE 0696.871.358
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Of 3,007 companies in sector 55203 we hold annual accounts for 694. 513 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
Founded26-02-2014
Fiscal year end31-12
Activities, NACEBEL 2025
55203Holiday cottages, homes and apartments
82990Other business support services
55204Guest rooms (bed and breakfast)
64210Activities of holding companies
68110Buying and selling of own real estate
Contact
E-mail
info@project-legacy.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0546986958
Also
9925:BE0546986958
Registered
06-08-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.