PROJECTIVE
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 10-06-2026 PDF all 19 filings
Turnover
€17.9m▲ 27.9%
2024 · €14.0m
EBIT margin
6.3%▲ 4.6pp
2024 · 1.7%
Net result
€684,887
2024 · -€76,369
Working capital
€1.1m▲ 159%
2024 · €420,474
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€17.9m
▲ 27.9%
2025
20182025
Operating result
€1.1m
▲ 376%
2025
20182025
Net result
€684,887
2025
highest quarter of the sector
20182025
EBIT margin
6.3%
▲ 4.6pp
2025
20182025
Equity
€1.4m
▲ 32.3%
2025
middle half of the sector
20182025
Total assets
€5.3m
▲ 16.8%
2025
middle half of the sector
20182025
Debt
€3.9m
▲ 12.0%
2025
20182025
Working capital
€1.1m
▲ 159%
2025
highest quarter of the sector
20182025
Solvency
26.7%
▲ 3.1pp
2025
middle half of the sector
20182025
Current ratio
1.34
▲ 0.19
2025
middle half of the sector
20182025
Return on assets (ROA)
13.0%
▲ 14.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
54.9
▼ 5.8%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€14.4m-€13.0m▼ 9.6%€13.3m▲ 2.1%€14.4m▲ 8.4%€16.8m▲ 16.6%€17.3m▲ 2.8%€14.0m▼ 18.8%€17.9m▲ 27.9%
Operating result€1.3m-€0.5m▼ 58.4%€1.3m▲ 145%€0.8m▼ 41.1%€2.0m▲ 148%€0.6m▼ 69.2%€0.2m▼ 60.5%€1.1m▲ 376%
Net result-€0.4m--€1.1m▼ 178%€1.6mabove the sector's middle half€0.9mabove the sector's middle half▼ 42.3%€1.3mabove the sector's middle half▲ 48.8%€0.4mabove the sector's middle half▼ 73.7%-€0.08mbelow the sector's middle half€0.7mabove the sector's middle half
EBIT margin9.2%-4.2%▼ 4.9pp10.1%▲ 5.9pp5.5%▼ 4.6pp11.7%▲ 6.2pp3.5%▼ 8.2pp1.7%▼ 1.8pp6.3%▲ 4.6pp
Equity€4.2m-€3.1m▼ 25.7%€7.6mabove the sector's middle half▲ 145%€25.8mabove the sector's middle half▲ 238%€1.8mwithin the sector's middle half▼ 92.9%€1.1mwithin the sector's middle half▼ 37.7%€1.1mwithin the sector's middle half▼ 6.7%€1.4mwithin the sector's middle half▲ 32.3%
Total assets€8.4m-€12.7m▲ 50.7%€12.5mabove the sector's middle half▼ 1.4%€33.2mabove the sector's middle half▲ 166%€4.3mwithin the sector's middle half▼ 87.2%€3.6mwithin the sector's middle half▼ 14.9%€4.5mwithin the sector's middle half▲ 23.9%€5.3mwithin the sector's middle half▲ 16.8%
Debt€4.2m-€9.5m▲ 124%€4.8m▼ 49.7%€7.3m▲ 53.2%€2.4m▼ 66.5%€2.5m▲ 2.2%€3.4m▲ 37.9%€3.9m▲ 12.0%
Working capital€2.1m--€0.07m€1.4mabove the sector's middle half-€0.7mbelow the sector's middle half€1.8mabove the sector's middle half€0.9mabove the sector's middle half▼ 48.6%€0.4mwithin the sector's middle half▼ 53.5%€1.1mabove the sector's middle half▲ 159%
Solvency49.9%-24.6%▼ 25.3pp61.1%within the sector's middle half▲ 36.5pp77.8%above the sector's middle half▲ 16.7pp42.8%within the sector's middle half▼ 35.0pp31.3%within the sector's middle half▼ 11.5pp23.5%within the sector's middle half▼ 7.7pp26.7%within the sector's middle half▲ 3.1pp
Current ratio1.52-0.99▼ 0.531.56within the sector's middle half▲ 0.570.86within the sector's middle half▼ 0.701.80within the sector's middle half▲ 0.941.39within the sector's middle half▼ 0.411.15within the sector's middle half▼ 0.241.34within the sector's middle half▲ 0.19
Return on assets (ROA)-4.6%--8.5%▼ 3.9pp12.5%above the sector's middle half▲ 21.0pp2.7%within the sector's middle half▼ 9.8pp31.5%above the sector's middle half▲ 28.7pp9.7%within the sector's middle half▼ 21.7pp-1.7%below the sector's middle half▼ 11.4pp13.0%above the sector's middle half▲ 14.7pp
Staff (FTE)29-32.8▲ 13.1%36.1above the sector's middle half▲ 10.1%42.9above the sector's middle half▲ 18.8%43.1above the sector's middle half▲ 0.5%55.6above the sector's middle half▲ 29.0%58.3above the sector's middle half▲ 4.9%54.9above the sector's middle half▼ 5.8%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is nearly 4.8 times that of 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2023 Net result -74% on 2022. Partial demerger to PROJECTIVE HOLDING, Official Gazette 27-07-2022, in the previous financial year. That operation now counts for a full year for the first time.
- 2022 Equity -93%, Total assets -87% on 2021. Partial demerger to PROJECTIVE HOLDING, Official Gazette 27-07-2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.3m
Fixed assets
€932,319 ▼ 27.0%
Current assets
€4.3m ▲ 34.1%
Equity and liabilities €5.3m
Equity
€1.4m ▲ 32.3%
Debt
€3.9m ▲ 12.0%
Debt's share of the balance-sheet total falls from 76.5% to 73.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.3m▲
2024 · €363,687
Cash flow
€816,088▲
2024 · €48,427
Debt to equity
2.75▼
2024 · 3.25
ROE
48.8%▲
2024 · -7.2%
Interest coverage
10.25▲
2024 · 2.79
Debt ≤ 1 year
€3.2m▲
2024 · €2.8m
Debt > 1 year
€243,156▼
2024 · €346,377
Income taxes
€298,593▲
2024 · €177,511
Customer credit
64 days▼
2024 · 66 days
Supplier credit
71 days▼
2024 · 81 days
Staff costs
€5.7m▼
2024 · €5.9m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 44 | 42 | 62 | 53 | 58 |
| full-time | 39 | 39 | 60 | 49 | 54 |
| part-time | 5 | 3 | 2 | 4 | 4 |
| in full-time equivalents | 42.9 | 41.5 | 61.5 | 52.3 | 57.5 |
| Average over the year, in full-time equivalents | 39.4 | 43.1 | 55.6 | 58.3 | 54.9 |
| On a permanent contract | 44 | 42 | 62 | 53 | 58 |
| Joined | 10 | 11 | 32 | 3 | 16 |
| Left | 4 | 13 | 12 | 12 | 11 |
| Agency workers, average number | - | - | - | - | 0.4 |
| Training hours | 644 | 1,172 | 943 | 1,561 | 154 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €4.6m | - | - | €860,654 | €691,564 |
| Pledge on the business | €7.0m | - | - | €10.7m | €10.7m |
| Carrying value of the other pledged assets | €292,573 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €97,098 | €127,093 | €145,304 | €606,294 | €17,148 |
| Intangible fixed assets | - | - | - | €420,985 | €0 |
| Financial fixed assets | €20.4m | - | - | - | - |
| Depreciation and write-downs of the year | €142,253 | €50,152 | €70,110 | €124,797 | €131,202 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €12,684 | €16,500 | €16,725 | €17,325 | €17,800 |
| Other work by the auditor | €7,500 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 6 entries · €8,342 awarded · €7,583 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €4,135 | €4,135 |
| 2024 | 2 | €1,432 | €1,432 |
| 2023 | 1 | €759 | €0 |
| 2022 | 1 | €2,016 | €2,016 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €15.1m | €17.0m | €17.4m | €14.6m | €18.3m | ▲ 25.2% |
| Turnover70 | €14.4m | €13.0m | €13.3m | €14.4m | €16.8m | €17.3m | €14.0m | €17.9m | ▲ 27.9% |
| Own construction capitalised72 | - | - | - | - | - | - | €0.4m | €0 | ▼ 100% |
| Other operating income74 | - | - | - | €0.6m | €0.2m | €0.1m | €0.2m | €0.4m | ▲ 108% |
| Non-recurring operating income76A | - | - | - | €0.02m | - | - | - | - | - |
| Operating charges60/66A | - | - | - | €14.3m | €15.1m | €16.8m | €14.4m | €17.1m | ▲ 19.3% |
| Goods for resale, raw materials and consumables60 | - | - | - | €6.7m | €8.4m | €7.9m | €5.9m | €8.5m | ▲ 42.9% |
| Purchases600/8 | - | - | - | €6.7m | €8.4m | €7.9m | €5.9m | €8.5m | ▲ 42.9% |
| Services and other goods61 | - | - | - | €2.7m | €1.6m | €2.6m | €2.4m | €2.5m | ▲ 7.7% |
| Remuneration, social security and pensions62 | - | - | - | €4.7m | €5.0m | €6.2m | €5.9m | €5.7m | ▼ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.08m | €0.1m | €0.1m | €0.05m | €0.07m | €0.1m | €0.1m | ▲ 5.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.02m | -€0.09m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.1m | €0.05m | €0.05m | €0.04m | €0.08m | ▲ 95.1% |
| Non-recurring operating charges66A | - | - | - | - | €0.1m | - | €0.002m | €0.2m | ▲ 105× |
| Operating profit (loss)9901 | €1.3m | €0.5m | €1.3m | €0.8m | €2.0m | €0.6m | €0.2m | €1.1m | ▲ 376% |
| Financial income75/76B | - | - | - | €0.5m | €0.007m | €0.008m | €0.004m | €0.002m | ▼ 63.1% |
| Recurring financial income75 | €0.009m | €0.009m | €0.3m | €0.5m | €0.007m | €0.008m | €0.004m | €0.002m | ▼ 63.1% |
| Income from financial fixed assets750 | - | - | - | €0.5m | - | - | - | - | - |
| Income from current assets751 | - | - | - | €0.01m | - | €0.006m | €0 | €0.001m | - |
| Other financial income752/9 | - | - | - | €0.008m | €0.007m | €0.002m | €0.004m | €316 | ▼ 92.6% |
| Non-recurring financial income76B | - | - | - | €0.009m | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.1m | €0.05m | €0.1m | €0.1m | €0.2m | ▲ 9.2% |
| Recurring financial charges65 | €0.4m | €0.2m | -€0.02m | €0.1m | €0.05m | €0.1m | €0.1m | €0.2m | ▲ 9.2% |
| Debt charges650 | €0.01m | €0.03m | €0.03m | €0.09m | €0.03m | €0.06m | €0.1m | €0.1m | ▼ 5.1% |
| Other financial charges652/9 | - | - | - | €0.04m | €0.01m | €0.03m | €0.01m | €0.03m | ▲ 168% |
| Profit (loss) for the period before taxes9903 | €0.007m | -€0.8m | €2.1m | €1.2m | €1.9m | €0.5m | €0.1m | €1.0m | ▲ 872% |
| Income taxes67/77 | €0.4m | €0.3m | €0.5m | €0.3m | €0.6m | €0.2m | €0.2m | €0.3m | ▲ 68.2% |
| Taxes670/3 | - | - | - | €0.3m | €0.6m | €0.3m | €0.2m | €0.3m | ▲ 54.7% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | - | €0.1m | €0.03m | €0.03m | ▼ 17.9% |
| Profit (loss) for the period9904 | -€0.4m | -€1.1m | €1.6m | €0.9m | €1.3m | €0.4m | -€0.08m | €0.7m | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | - | €0.3m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.4m | -€1.1m | €1.6m | €0.9m | €1.3m | €0.4m | -€0.08m | €0.4m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8.4m | €12.7m | €12.5m | €33.2m | €4.3m | €3.6m | €4.5m | €5.3m | ▲ 16.8% |
| Fixed assets21/28 | €2.2m | €4.3m | €8.6m | €29.2m | €0.3m | €0.4m | €1.3m | €0.9m | ▼ 27.0% |
| Intangible fixed assets21 | - | €0.06m | €0.09m | €0.05m | - | - | €0.4m | €0.2m | ▼ 54.9% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.4m | €0.9m | €0.7m | ▼ 13.3% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.02m | €0.04m | €0.04m | €0.02m | ▼ 37.7% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.004m | €218 | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €0.2m | €0.3m | €0.3m | €0.8m | €0.7m | ▼ 12.2% |
| Financial fixed assets28 | €1.8m | €3.9m | €8.2m | €28.8m | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 90.9% |
| Affiliated companies280/1 | - | - | - | €28.8m | - | - | - | - | - |
| Participating interests280 | - | - | - | €28.6m | - | - | - | - | - |
| Amounts receivable281 | - | - | - | €0.3m | - | - | - | - | - |
| Other financial fixed assets284/8 | - | - | - | €250 | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 90.9% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €250 | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 90.9% |
| Current assets29/58 | €6.2m | €8.3m | €3.9m | €4.0m | €4.0m | €3.3m | €3.2m | €4.3m | ▲ 34.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.5m | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.5m | - | - | - | - | - |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €0 | €0 | - |
| Amounts receivable within one year40/41 | €4.9m | €3.9m | €1.5m | €2.2m | €3.5m | €2.5m | €2.8m | €3.1m | ▲ 11.2% |
| Trade receivables40 | - | - | - | €2.1m | €3.2m | €2.5m | €2.5m | €3.1m | ▲ 23.6% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.3m | €0.07m | €0.3m | €0.005m | ▼ 98.3% |
| Current investments50/53 | - | €1.5m | €0.9m | €0.9m | - | - | - | - | - |
| Own shares50 | - | - | - | €0.9m | - | - | - | - | - |
| Cash at bank and in hand54/58 | €1.0m | €2.5m | €1.2m | €0.3m | €0.3m | €0.7m | €0.3m | €1.1m | ▲ 230% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.08m | €0.07m | €0.07m | €0.1m | ▲ 45.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8.4m | €12.7m | €12.5m | €33.2m | €4.3m | €3.6m | €4.5m | €5.3m | ▲ 16.8% |
| Equity10/15 | €4.2m | €3.1m | €7.6m | €25.8m | €1.8m | €1.1m | €1.1m | €1.4m | ▲ 32.3% |
| Contributions10/11 | €0.3m | €0.3m | €0.4m | €21.0m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | - | €0.6m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.6m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Contributions outside capital11 | - | - | - | €20.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Share premium1100/10 | - | - | - | €20.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €3.6m | €2.6m | €4.0m | €4.9m | €1.4m | €0.7m | €0.6m | €1.0m | ▲ 54.8% |
| Non-distributable reserves130/1 | - | - | - | €1.5m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.06m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Own shares acquired1312 | - | - | - | €0.9m | - | - | - | - | - |
| Financial assistance1313 | - | - | - | €0.5m | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.01m | €212 | €212 | €212 | €0.3m | ▲ 1,489× |
| Distributable reserves133 | - | - | - | €3.4m | €1.4m | €0.7m | €0.6m | €0.6m | ▲ 4.4% |
| Profit (loss) carried forward14 | €139 | €107 | €107 | €107 | - | - | - | - | - |
| Provisions and deferred taxes16 | - | €0.1m | €0.1m | €0.09m | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.09m | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.09m | - | - | - | - | - |
| Amounts payable17/49 | €4.2m | €9.5m | €4.8m | €7.3m | €2.4m | €2.5m | €3.4m | €3.9m | ▲ 12.0% |
| Amounts payable after more than one year17 | - | €0.8m | €2.0m | €2.5m | - | €0.009m | €0.3m | €0.2m | ▼ 29.8% |
| Financial debts170/4 | - | - | - | €2.5m | - | - | €0.3m | €0.2m | ▼ 30.3% |
| Credit institutions173 | - | - | - | €2.5m | - | - | €0.3m | €0.2m | ▼ 30.3% |
| Other amounts payable178/9 | - | - | - | - | - | €0.009m | €0.006m | €0.006m | = |
| Amounts payable within one year42/48 | €4.1m | €8.4m | €2.5m | €4.7m | €2.2m | €2.4m | €2.8m | €3.2m | ▲ 15.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.7m | - | - | €0.4m | €0.1m | ▼ 75.2% |
| Financial debts43 | - | - | - | €1.4m | €0.09m | €0.08m | €0.1m | €0.4m | ▲ 235% |
| Credit institutions430/8 | - | - | - | €1.4m | €0.09m | €0.08m | €0.1m | €0.4m | ▲ 235% |
| Trade debts44 | €1.5m | €1.4m | €0.7m | €1.1m | €1.0m | €1.3m | €1.3m | €1.6m | ▲ 25.2% |
| Suppliers440/4 | - | - | - | €1.1m | €1.0m | €1.3m | €1.3m | €1.6m | ▲ 25.2% |
| Taxes, remuneration and social security45 | - | - | - | €1.0m | €1.1m | €0.9m | €0.8m | €1.1m | ▲ 42.0% |
| Taxes450/3 | - | - | - | €0.4m | €0.4m | €0.2m | €0.2m | €0.4m | ▲ 115% |
| Remuneration and social security454/9 | - | - | - | €0.6m | €0.7m | €0.7m | €0.6m | €0.7m | ▲ 17.9% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.001m | €0.001m | €0.2m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.2m | €0.1m | €0.3m | €0.4m | ▲ 28.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.4m | -€1.1m | €1.6m | €0.9m | €1.3m | €0.4m | -€0.08m | €0.7m | - |
| + Depreciation and write-downs630 | €0.06m | €0.08m | €0.1m | €0.1m | €0.05m | €0.07m | €0.1m | €0.1m | ▲ 5.1% |
| Operating cash flow (approximation) | -€0.3m | -€1.0m | €1.7m | €1.0m | €1.4m | €0.4m | €0.05m | €0.8m | ▲ 17× |
| Investment in fixed assets (approximation) | - | -€2.2m | -€4.4m | -€20.7m | €28.9m | -€0.1m | -€1.0m | €0.2m | - |
| Change in cash | - | €1.5m | -€1.4m | -€0.9m | €0.04m | €0.3m | -€0.3m | €0.7m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 172 companies had the same profile as PROJECTIVE has now. Two years later, 96.5% were still going and 0.0% had gone bankrupt.
- Medium-sized
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.5%
stopped otherwise
0.0%
went bankrupt
That fits the bankruptcy probability of PROJECTIVE itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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.
| 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 172 companies, not a prediction for PROJECTIVE. 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.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-06-2026 | 2026-00148525 | |
| 31-12-2024 | full format | 25-06-2025 | 2025-00181376 | |
| 31-12-2023 | full format | 28-06-2024 | 2024-00187965 | |
| 31-12-2022 | full format | 31-05-2023 | 2023-00099275 | |
| 31-12-2021 | full format | 03-05-2022 | 2022-20017626 | |
| 31-12-2020 | full format | 18-05-2021 | 2021-14400266 | |
| 31-12-2019 | full format | 10-04-2020 | 2020-09000429 | |
| 31-12-2018 | full format | 16-04-2019 | 2019-10000170 | |
| 31-12-2017 | full format | 11-04-2018 | 2018-09700007 | |
| 31-12-2016 | full format | 14-04-2017 | 2017-09600051 |