PROJECTS SANCV
ActiveSummary
PROJECTS SANCV has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €618,176 and a net result of €167,582. Equity is growing by ~35.4% per year across the filed fiscal years. Its solvency ranks better than 79% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability94▲+1
Solvency98▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 5.64 against 3.97 in 2023; short-term debt: 13.7% and cash: 53% of total assets), and 26.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
73.4%
Return on assets
19.9%
Age of the figures
21 mo
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 09-07-2025, 22 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
22 d early
2023
12 d early
2022
10 d early
2021
25 d early
2020
8 d early
2019
20 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 16 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€618,176▲ 21.0%
2023 · €510,705
Total assets
€842,324▲ 9.7%
2023 · €767,747
Net result
€167,582▲ 11.0%
2023 · €150,910
Working capital
€534,402▲ 30.3%
2023 · €410,226
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€93,593▲ 13.4%€129,698▲ 38.6%€159,568▲ 23.0%€211,478▲ 32.5%€213,987▲ 1.2%
Net result€73,784▲ 22.7%€99,083▲ 34.3%€114,684▲ 15.7%€150,910▲ 31.6%€167,582▲ 11.0%
Equity€150,895▲ 91.7%€248,377▲ 64.6%€361,462▲ 45.5%€510,705▲ 41.3%€618,176▲ 21.0%
Total assets€406,471▲ 140%€465,232▲ 14.5%€585,970▲ 26.0%€767,747▲ 31.0%€842,324▲ 9.7%
Debt€255,577▲ 182%€216,854▼ 15.2%€224,508▲ 3.5%€257,041▲ 14.5%€224,148▼ 12.8%
Working capital€175,470▲ 151%€182,798▲ 4.2%€289,411▲ 58.3%€410,226▲ 41.7%€534,402▲ 30.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 1% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €842,324
Fixed assets
€192,719 ▼ 12.1%
Current assets
€649,605 ▲ 18.4%
Equity and liabilities €842,324
Equity
€618,176 ▲ 21.0%
Debt
€224,148 ▼ 12.8%
Debt's share of the balance-sheet total falls from 33.5% to 26.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€238,568▲
2023 · €238,219
Cash flow
€192,163▲
2023 · €177,650
Current ratio
5.64▲
2023 · 3.97
Quick ratio
4.49▲
2023 · 2.62
Debt to equity
0.36▼
2023 · 0.50
ROE
27.1%▼
2023 · 29.5%
ROA
19.9%▲
2023 · 19.7%
Interest coverage
166.85▲
2023 · 159.12
Debt ≤ 1 year
€115,203▼
2023 · €138,320
Debt > 1 year
€108,945▼
2023 · €118,583
Income taxes
€50,089▼
2023 · €63,789
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,776 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
2.6%
stopped otherwise
97%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 6,776 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,253 | - | €10,657 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,256 | €27,098 | €26,711 | €26,741 | €24,581 | ▼ 8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €1,964 | - |
| Other operating charges640/8 | - | €937 | €1,918 | €1,538 | €1,605 | ▲ 4.4% |
| Gross operating margin9900 | €117,030 | €157,734 | €188,197 | €239,756 | €242,137 | ▲ 1.0% |
| Operating profit (loss)9901 | €93,593 | €129,698 | €159,568 | €211,478 | €213,987 | ▲ 1.2% |
| Financial income75/76B | - | €5,256 | €3,850 | €4,718 | €5,114 | ▲ 8.4% |
| Recurring financial income75 | €4,888 | €5,256 | €3,850 | €4,718 | €5,114 | ▲ 8.4% |
| Financial charges65/66B | - | €3,365 | €1,756 | €1,497 | €1,430 | ▼ 4.5% |
| Recurring financial charges65 | €2,610 | €3,365 | €1,756 | €1,497 | €1,430 | ▼ 4.5% |
| Profit (loss) for the period before taxes9903 | €95,872 | €131,589 | €161,662 | €214,699 | €217,671 | ▲ 1.4% |
| Income taxes67/77 | €22,088 | €32,507 | €46,977 | €63,789 | €50,089 | ▼ 21.5% |
| Profit (loss) for the period9904 | €73,784 | €99,083 | €114,684 | €150,910 | €167,582 | ▲ 11.0% |
| Profit (loss) for the period to be appropriated9905 | €73,784 | €99,083 | €114,684 | €150,910 | €167,582 | ▲ 11.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €406,471 | €465,232 | €585,970 | €767,747 | €842,324 | ▲ 9.7% |
| Fixed assets21/28 | €139,134 | €211,351 | €203,926 | €219,201 | €192,719 | ▼ 12.1% |
| Intangible fixed assets21 | €496 | €71 | €0 | - | - | - |
| Tangible fixed assets22/27 | €138,138 | €211,137 | €203,783 | €219,058 | €192,438 | ▼ 12.2% |
| Land and buildings22 | - | €160,281 | €164,961 | €157,305 | €149,648 | ▼ 4.9% |
| Plant, machinery and equipment23 | - | €6,130 | €8,931 | €5,626 | €3,139 | ▼ 44.2% |
| Furniture and vehicles24 | - | €22,134 | €11,647 | €42,232 | €30,104 | ▼ 28.7% |
| Other tangible fixed assets26 | - | €22,593 | €18,244 | €13,896 | €9,547 | ▼ 31.3% |
| Financial fixed assets28 | €500 | €143 | €143 | €143 | €281 | ▲ 96.5% |
| Current assets29/58 | €267,337 | €253,880 | €382,043 | €548,546 | €649,605 | ▲ 18.4% |
| Stocks and contracts in progress3 | €29,435 | €110,557 | €140,740 | €186,488 | €132,751 | ▼ 28.8% |
| Stocks30/36 | - | €110,557 | €108,240 | €111,619 | €124,751 | ▲ 11.8% |
| Contracts in progress37 | - | - | €32,500 | €74,869 | €8,000 | ▼ 89.3% |
| Amounts receivable within one year40/41 | €178,616 | €63,185 | €63,295 | €66,063 | €64,001 | ▼ 3.1% |
| Trade receivables40 | - | €51,402 | €52,790 | €54,585 | €40,980 | ▼ 24.9% |
| Other amounts receivable41 | - | €11,783 | €10,505 | €11,478 | €23,021 | ▲ 101% |
| Cash at bank and in hand54/58 | €54,380 | €75,989 | €173,785 | €289,592 | €446,044 | ▲ 54.0% |
| Deferred charges and accrued income490/1 | - | €4,149 | €4,223 | €6,403 | €6,809 | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €406,471 | €465,232 | €585,970 | €767,747 | €842,324 | ▲ 9.7% |
| Equity10/15 | €150,895 | €248,377 | €361,462 | €510,705 | €618,176 | ▲ 21.0% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €132,295 | €229,777 | €342,862 | €492,105 | €599,576 | ▲ 21.8% |
| Distributable reserves133 | - | €229,777 | €342,862 | €492,105 | €599,576 | ▲ 21.8% |
| Amounts payable17/49 | €255,577 | €216,854 | €224,508 | €257,041 | €224,148 | ▼ 12.8% |
| Amounts payable after more than one year17 | €163,096 | €145,760 | €131,863 | €118,583 | €108,945 | ▼ 8.1% |
| Financial debts170/4 | - | €145,760 | €131,863 | €118,583 | €108,945 | ▼ 8.1% |
| Amounts payable within one year42/48 | €91,868 | €71,082 | €92,632 | €138,320 | €115,203 | ▼ 16.7% |
| Current portion of amounts payable after more than one year42 | - | €17,336 | €13,897 | €13,280 | €9,638 | ▼ 27.4% |
| Financial debts43 | - | - | €2,000 | - | - | - |
| Credit institutions430/8 | - | - | €2,000 | - | - | - |
| Trade debts44 | €20,710 | €24,836 | €3,159 | €2,588 | €24,454 | ▲ 845% |
| Suppliers440/4 | - | €24,836 | €3,159 | €2,588 | €24,454 | ▲ 845% |
| Advances received on contracts in progress46 | - | €15,200 | €65,000 | €117,000 | €21,000 | ▼ 82.1% |
| Taxes, remuneration and social security45 | - | €10,506 | €6,977 | €3,785 | - | - |
| Taxes450/3 | - | €10,506 | €6,977 | €3,785 | - | - |
| Other amounts payable47/48 | - | €3,203 | €1,600 | €1,666 | €60,111 | ▲ 3,508% |
| Accrued charges and deferred income492/3 | - | €12 | €12 | €139 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,784 | €99,083 | €114,684 | €150,910 | €167,582 | ▲ 11.0% |
| + Depreciation and write-downs630 | €21,256 | €27,098 | €26,711 | €26,741 | €24,581 | ▼ 8.1% |
| Operating cash flow (approximation) | €95,040 | €126,181 | €141,396 | €177,650 | €192,163 | ▲ 8.2% |
| Investment in fixed assets (approximation) | - | -€99,315 | -€19,286 | -€42,015 | €1,901 | ▲ 105% |
| Change in cash | - | €21,609 | €97,796 | €115,807 | €156,452 | ▲ 35.1% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2019net €167,582 ▲11%
Operating result €213,987, net result €167,582, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €500,000Eq €510,705 ▲41.3%
5 profitable years in a row build equity to €510,705.
21-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €248,377 ▲64.6%
3 profitable years in a row build equity to €248,377.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €150,895 ▲91.7%
2 profitable years in a row build equity to €150,895.
11-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Harelbeke · 1 establishment unit since 2018
Ground area
545 m²
Building footprint
116 m²
Volume, LiDAR
520 m³
Parcel 34004B0264/00R000, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
PROJECTS SANCV
since 20182.279.201.674
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34004B0264/00R000 | Flanders | 545 m² | 1 · 116 m² | 6.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 355 EUR awarded · 355 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 133 EUR | 133 EUR |
| 2024 | 1 | 0 EUR | 123 EUR |
| 2023 | 1 | 123 EUR | 0 EUR |
| 2022 | 1 | 99 EUR | 99 EUR |
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Of 7,043 companies in sector 43221 we hold annual accounts for 3,473. 2,142 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
Founded06-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
33110Repair and maintenance of fabricated metal products
43222Installation of electric heating, air conditioning, cooling and ventilation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0702898226
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.