Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2021 to 2025 closed with a loss. 2022 was the heaviest.
The micro format states no turnover.
Of this, €115,448 falls due within a year.
The 2022 accounts came latest: 71 days after the end of the period.
Less equity than 93% of companies in wholesale trade. Sector median €56,489 · 13,827 companies.
The dashed line is the sector median: 0.4% across 26,888 companies (NACE 46, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 46, micro). It does better than 6% of them on solvency, 25% on liquidity, 18% on profitability and 13% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,564 companies had the same profile as PROJET-SENS has now. Each dot stands for 4 companies, two years later.
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PROJET-SENS itself: 2.0% within 12 months.
The method was tested on the 497,447 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 1,564 companies, not a prediction for PROJET-SENS. 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.
Liquidity is insufficient, with a current ratio of 0.24 (0.54 in 2024), below 1. Short-term debt is 47.5% and cash 0.5% of total assets. Equity is negative.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 44 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PROJET-SENS Rumes | €242,980 | €33,254 | -30.7% | - |
| In Bocca Lupo Merelbeke-Melle | €218,320 | €32,848 | 21.2% | - |
| Perforto Tielt-Winge | €309,392 | €30,531 | 10.5% | - |
| IMMO CARPE DIEM Binche | €275,215 | €23,780 | -24.3% | - |
| D.G. FOOD HAINAUT Erquelinnes | €232,725 | €31,895 | 33.4% | - |
| FM HANDLING SOLUTIONS Charleroi | €155,671 | €33,632 | 27.9% | - |
| ALL4 La Louvière | €217,547 | €23,823 | 27.0% | - |
These companies have the same main activity as PROJET-SENS: agents in non-specialised wholesale trade (NACE 46190). They are comparable in size and age: total assets between €156,000 and €309,000, founded between 2014 and 2019.
PROJET-SENS files the micro format. That format states no turnover. The gross margin fell from €77,771 in 2018 to €33,254 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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