Project One
ActiveSummary
The computed 12-month bankruptcy probability of Project One is 2.4% (moderate). The 2025 annual accounts show equity of €167,025 and a net result of €18,187. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 2,777 sector peers (NACE 41, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 4.7 FTE
- Equity
- €167,025
- Profit
- €18,187
- Parent
- INSTALLATIETECHNIEKEN VAN HERCK · 60.06%
- INSTALLATIETECHNIEKEN VAN HERCKDirector · permanent representative VAN HERCK Christophe
- TIM COLLIERDirector · permanent representative COLLIER Timmy
- VAN DEN HEUVEL ADVICESDirector · permanent representative Van den Heuvel Nico
Why 52raises riskSector: Construction of residential and non-residential buildings (NACE 41)Founded in 2021Equity €167,025 (14.6% of total assets)lowers riskFigures for financial year 2025 (filed 11-03-2026)Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 22% on solvency, 18% on liquidity, 32% on profitability and 96% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 4 accounts on average 73 days before the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
- Appointment: Van den Heuvel Advices CommV…Permanent representative: Van den Heuvel…
- Annual accounts filedfinancial year 2025 · abbreviated…
- Equity above €150,000equity €167,025 ▲281%
Financials · financial year 2025, abbreviated format
2022 to 2025, 4 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 114% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
- 2025 Equity +281% on 2024. Capital increase of €105,000 (Official Gazette 18-11-2024).
Peer companies
Historical observationOf the 3,274 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 94.7% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.4% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 3,274 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.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €207,902 | €380,284 | €449,260 | €391,780 | ▼ 12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52,934 | €79,955 | €86,982 | €71,769 | ▼ 17.5% |
| Other operating charges640/8 | €3,365 | €3,584 | €4,950 | €5,743 | ▲ 16.0% |
| Gross operating margin9900 | €323,067 | €464,957 | €567,064 | €524,613 | ▼ 7.5% |
| Operating profit (loss)9901 | €58,866 | €1,134 | €25,872 | €55,322 | ▲ 114% |
| Financial income75/76B | €1,205 | €2,775 | €1,928 | €3,406 | ▲ 76.7% |
| Recurring financial income75 | €1,205 | €2,775 | €1,928 | €3,406 | ▲ 76.7% |
| Financial charges65/66B | €5,119 | €19,182 | €22,726 | €28,511 | ▲ 25.5% |
| Recurring financial charges65 | €5,119 | €19,182 | €22,726 | €28,511 | ▲ 25.5% |
| Profit (loss) for the period before taxes9903 | €54,951 | -€15,273 | €5,074 | €30,217 | ▲ 496% |
| Income taxes67/77 | €9,653 | - | €1,261 | €12,030 | ▲ 854% |
| Profit (loss) for the period9904 | €45,298 | -€15,273 | €3,813 | €18,187 | ▲ 377% |
| Profit (loss) for the period to be appropriated9905 | €45,298 | -€15,273 | €3,813 | €18,187 | ▲ 377% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €0.9m | €1.1m | €0.9m | €1.1m | ▲ 30.3% |
| Formation expenses20 | €0.004m | €0.002m | - | - | - |
| Fixed assets21/28 | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 27.1% |
| Intangible fixed assets21 | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 13.4% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 36.5% |
| Plant, machinery and equipment23 | €0.02m | €0.02m | €0.009m | €0.01m | ▲ 41.8% |
| Furniture and vehicles24 | €0.1m | €0.08m | €0.06m | €0.02m | ▼ 58.1% |
| Leasing and similar rights25 | €0.08m | €0.06m | €0.1m | €0.07m | ▼ 31.3% |
| Current assets29/58 | €0.5m | €0.7m | €0.6m | €0.9m | ▲ 57.7% |
| Stocks and contracts in progress3 | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 8.8% |
| Stocks30/36 | €0.09m | €0.1m | €0.1m | €0.1m | ▼ 12.5% |
| Contracts in progress37 | €0.05m | €0.05m | €0.007m | €0.04m | ▲ 485% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.4m | €0.7m | ▲ 66.5% |
| Trade receivables40 | €0.2m | €0.3m | €0.4m | €0.6m | ▲ 63.5% |
| Other amounts receivable41 | €0.04m | €0.07m | €0.03m | €0.06m | ▲ 109% |
| Cash at bank and in hand54/58 | €0.06m | €0.2m | €0.02m | €0.07m | ▲ 336% |
| Deferred charges and accrued income490/1 | €0.001m | €0.01m | €0.01m | €0.01m | ▲ 16.6% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €0.9m | €1.1m | €0.9m | €1.1m | ▲ 30.3% |
| Equity10/15 | €0.06m | €0.04m | €0.04m | €0.2m | ▲ 281% |
| Contributions10/11 | €0.01m | €0.01m | €0.01m | €0.1m | ▲ 12× |
| Profit (loss) carried forward14 | €0.05m | €0.03m | €0.03m | €0.05m | ▲ 53.7% |
| Amounts payable17/49 | €0.8m | €1.0m | €0.8m | €1.0m | ▲ 17.2% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 8.0% |
| Financial debts170/4 | €0.4m | €0.3m | €0.3m | €0.1m | ▼ 62.8% |
| Other amounts payable178/9 | - | - | - | €0.1m | - |
| Amounts payable within one year42/48 | €0.4m | €0.7m | €0.6m | €0.7m | ▲ 28.3% |
| Current portion of amounts payable after more than one year42 | €0.08m | €0.07m | €0.06m | €0.04m | ▼ 22.0% |
| Financial debts43 | - | €0.2m | €0.2m | €0.3m | ▲ 66.7% |
| Credit institutions430/8 | - | €0.2m | €0.2m | €0.3m | ▲ 66.7% |
| Trade debts44 | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 22.0% |
| Suppliers440/4 | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 22.0% |
| Advances received on contracts in progress46 | €0.01m | €0.1m | - | - | - |
| Taxes, remuneration and social security45 | €0.06m | €0.02m | €0.03m | €0.03m | ▲ 13.9% |
| Taxes450/3 | €0.01m | €0.004m | €0.001m | €0.01m | ▲ 770% |
| Remuneration and social security454/9 | €0.04m | €0.02m | €0.02m | €0.02m | ▼ 25.8% |
| Other amounts payable47/48 | - | - | €0.003m | - | - |
| Accrued charges and deferred income492/3 | €0.003m | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,298 | -€15,273 | €3,813 | €18,187 | ▲ 377% |
| + Depreciation and write-downs630 | €52,934 | €79,955 | €86,982 | €71,769 | ▼ 17.5% |
| Operating cash flow (approximation) | €98,232 | €64,682 | €90,794 | €89,956 | ▼ 0.9% |
| Investment in fixed assets (approximation) | - | -€10,107 | -€30,331 | €5,270 | - |
| Change in cash | - | €138,335 | -€182,007 | €50,757 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | abbreviated format | 11-03-2026 | 2026-00052274 |
| 30-09-2024 | abbreviated format | 11-12-2024 | 2024-00613822 |
| 30-09-2023 | abbreviated format | 13-03-2024 | 2024-00042721 |
| 30-09-2022 | abbreviated format | 08-03-2023 | 2023-00036769 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €5,911 awarded · €5,234 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,376 | €1,376 |
| 2024 | 1 | €1,369 | €1,369 |
| 2023 | 1 | €2,317 | €1,640 |
| 2022 | 1 | €849 | €849 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 3
Permanent representatives 3
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| INSTALLATIETECHNIEKEN VAN HERCK |
|
| TIM COLLIER |
|
| VAN DEN HEUVEL ADVICES |
|
| BV EWB elekticiteitswerken |
|
Owners and capital
Owners
1 ownerChain of control
- INSTALLATIETECHNIEKEN VAN HERCK
- Project One
Highest known parent: INSTALLATIETECHNIEKEN VAN HERCK. The sources do not say who stands above it.
Owners 1
-
60.06%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 18-11-2024 Capital increase of €105,000 · 560 new shares · in cash
Group and network
Connections & network
3 current directorsThe board mandates are listed below; here you explore them as a network.
History
Acts, filings and financial milestones
05-06
Gazette deed
Appointment: Van den Heuvel Advices CommV (bijkomend bestuurder)Permanent representative: Van den Heuvel Nico · Power of attorney5 facts ▸
- General meeting, 04-03-2026
- Director appointment, Van den Heuvel Advices CommV (bijkomend bestuurder)
- Permanent representative, Van den Heuvel Nico
- Power of attorney, BV Vereycken & Vereycken Accounting
- Power of attorney, Sven Somers
18-11
Gazette deed
Appointments: INSTALLATIETECHNIEKEN VAN HERCK (director) and TIM COLLIER (director)Permanent representatives: VAN HERCK Christophe and COLLIER Timmy · Kind of shares · Capital increase9 facts ▸
- Kind of shares, “omzetting”, 600 (deed in Dutch)
- Capital increase, €105,000
- Other provision, “beëindiging opdracht huidige bestuurders, beëindiging” (deed in Dutch)
- Director appointment, INSTALLATIETECHNIEKEN VAN HERCK (director)
- Permanent representative, VAN HERCK Christophe
- Director appointment, TIM COLLIER (director)
- Permanent representative, COLLIER Timmy
- Amendment of the articles
- Capital
09-07
Gazette deed
Resignation: BV EWB elekticiteitswerken (director)Permanent representative: Joerie Baeten3 facts ▸
- General meeting, 17-06-2024
- Director resignation, BV EWB elekticiteitswerken (director (not named in the articles))
- Permanent representative, Joerie Baeten
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 3 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
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, with enterprise number 0775.475.111
Recognitions · licences · registrations
Recognised contractor
3 categories- D16 Sanitary installations and gas heating with individual appliancesclass 1, up to €162,000
- D17 Central heating, thermal installationsclass 1, up to €162,000
- D18 Ventilation, warm-air heating and air conditioningclass 1, up to €162,000
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13019D0081/00F000 | Flanders | 1.0 ha | 1 · 383 m² | 7.5 m · 2 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- PROJECT ONE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bij enkel besluit van het bestuursorgaan zetel verplaatsen,administratieve…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “• De besloten vennootschap "TIM COLLIER", met maatschappelijke zetel te 2050 Antwerpen, Aalscholverlaan 44 102, BTW BE0878.200.089 als…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Steeds gelijk aantal per type aandelen, met of zonder beperking van duur” (deed in Dutch)“Algemene kosten,los van representatie-,reis-en verplaatsingskosten, algemene vergadering met absolute meerderheid of enige aandeelhouder…” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
Meetings and financial year
- Voting ruleWhich majority the meeting decides by, for example a simple or a special majority.
- “Eenparigheid van stemmen” (deed in Dutch)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, TITEL VII ONTBINDING VEREFFENING” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bestuurders in functie krachtens statuten indien geen andere benoemd, behoudens procedure in een akte” (deed in Dutch)