PROJECT REIZEN
InactivePROJECT REIZEN was declared bankrupt on 04-11-2024 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed by liquidation by judgment of 19-01-2026, published in the Belgian State Gazette on 26-01-2026.
No longer registered with the KBO; last annual accounts for fiscal year 2023.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
30-09-2024 close30-04-2025 deadline22-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2023 was due by 30-04-2024 and was filed on 26-04-2024, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
4 d early
2022
27 d early
2021
156 d early
2020
1 d early
2019
3 d early
← before the deadline
after the deadline →
Financials · fiscal year 2023, abbreviated schema
Equity
€145k▼ 18.8%
2022 · €178k
2018: €264k
2019: €268k
2020: €71k
2021: €136k
2022: €178k
2018 → 2023
Total assets
€440k▼ 18.1%
2022 · €537k
2018: €891k
2019: €625k
2020: €766k
2021: €402k
2022: €537k
2018 → 2023
Net result
€-34k
2022 · €42k
2018: €1k
2019: €4k
2020: €-196k
2021: €65k
2022: €42k
2018 → 2023
Working capital
€42k▲ 0.7%
2022 · €42k
2018: €274k
2019: €282k
2020: €-32k
2021: €32k
2022: €42k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€268k-€71k▼ 73.4%€136k▲ 90.8%€178k▲ 31.0%€145k▼ 18.8%
Operating result€7k-€-193k€63k€59k▼ 5.9%€-29k
Net result€4k-€-196k€65k€42k▼ 34.9%€-34k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2023: a loss of €29k after €59k in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €440k
Fixed assets
€110k▼ 28.8%
Current assets
€330k▼ 13.8%
Equity and liabilities €440k
Equity
€145k▼ 18.8%
Debt
€295k▼ 17.8%
The debt ratio rises from 66.9% to 67.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-29k▼
2022 · €82k
Cash flow
€-33k▼
2022 · €65k
Solvency
32.8%▼
2022 · 33.1%
Current ratio
1.15▲
2022 · 1.12
Quick ratio
1.15▲
2022 · 1.12
Debt / equity
2.04▲
2022 · 2.02
ROE
-23.2%▼
2022 · 23.6%
ROA
-7.6%▼
2022 · 7.8%
Interest coverage
-4.94▼
2022 · 5.14
Debt
€295k▼
2022 · €359k
Debt ≤ 1 year
€288k▼
2022 · €341k
Debt > 1 year
€7k
Income taxes
€787▼
2022 · €1k
Staff costs
€144k▲
2022 · €130k
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 · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€537k€440k▼
Fixed assets21/28€154k€110k▼
Intangible fixed assets21€152k€88k▼
Tangible fixed assets22/27€207€19k▲
Plant, machinery and equipment23-€1k
Furniture and vehicles24€207€8k▲
Other tangible fixed assets26-€10k
Financial fixed assets28€3k€3k▲
Current assets29/58€383k€330k▼
Amounts receivable within one year40/41€168k€46k▼
Trade receivables40€168k€7k▼
Other amounts receivable41-€38k
Current investments50/53€156k€55k▼
Cash at bank and in hand54/58€51k€100k▲
Deferred charges and accrued income490/1€8k€129k▲
Equity and liabilities
Total equity and liabilities10/49€537k€440k▼
Equity10/15€178k€145k▼
Contributions10/11€245k€245k=
Capital10€245k€245k=
Issued capital100€245k€245k=
Reserves13€30k€30k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Distributable reserves133€5k€5k=
Profit (loss) carried forward14€-96k€-130k▼
Amounts payable17/49€359k€295k▼
Amounts payable after more than one year17-€7k
Other amounts payable178/9-€7k
Amounts payable within one year42/48€341k€288k▼
Trade debts44€301k€268k▼
Suppliers440/4€301k€268k▼
Taxes, remuneration and social security45€20k€20k▲
Taxes450/3€14k€16k▲
Remuneration and social security454/9€6k€4k▼
Other amounts payable47/48€21k-
Accrued charges and deferred income492/3€18k-
Income statement
Code20222023
Non-recurring operating income76A-€32k
Remuneration, social security and pensions62€130k€144k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€207▼
Other operating charges640/8€7k€6k▼
Gross operating margin9900€219k€121k▼
Operating profit (loss)9901€59k€-29k▼
Financial income75/76B€137€2k▲
Recurring financial income75€137€2k▲
Financial charges65/66B€16k€6k▼
Recurring financial charges65€16k€6k▼
Profit (loss) for the period before taxes9903€44k€-33k▼
Income taxes67/77€1k€787▼
Profit (loss) for the period9904€42k€-34k▼
Profit (loss) for the period to be appropriated9905€42k€-34k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-96k€-130k▼
Profit (loss) brought forward from the previous period14P€-139k€-96k▲
Social balance
Average headcount (FTE)90872.12.1=
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
26-01
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Dendermonde · PROJECT REIZEN NV DRIES 1, 9112 SINAAI-WAAS · event 19-01-2026
2024
08-11
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · PROJECT REIZEN NV DRIES 1, 9112 SINAAI-WAAS · event 04-11-2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €150kEq €178k ▲31%
2 profitable years in a row build equity to €178k.
2021
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-09
Financial
Back to profitnet €65k
Net result €65k after one loss-making year.
30-09
Financial
Equity above €100kEq €136k ▲90.8%
Equity rises from €71k to €136k.
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Weakest financial yearnet €-196k ▼5407%
Net result drops to €-196k, the lowest in the series.
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
28-04
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
16-02
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CHARLOTTE GEERAERT EIKENLAAN 21, 9250 WAAS-
MUNSTER |
04-11-2024 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 5,567 EUR awarded · 5,567 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 5,567 EUR | 5,567 EUR |
Schemes
Vlaams Beschermingsmechanisme 11 (stopgezet)