Equity
€48,276 from €105,880 in 2019
Equity fell by 54% in 6 years.
PROTEA MANAGEMENT
Lifetime
12 annual accounts with figures on one time axispeak €135,388 (2014)
-€20,569▼ €1,828
lowest -€44,074 (2020)
-€22,480▼ €1,074
peak €105,880 (2019)
€48,276▼ 31.8%
€26,913▼ 10.3%
Board5 names since 2014
2 directorsSean Smilkstein and 1 other
Documentsfilings and deeds
28-09-202659 days late
2025micro format
Loss of €22,4801 director appointed, 2 reappointments 13-02Equity from €70,757 to €48,276Cash from €29,630 to €4,666
Key points
from the 2025 annual accountsLosses
-€43,886 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Position in the sector
-€22,480
Lower net result than 93% of companies in head offices and management consultancy. Sector median €27,142 · 39,376 companies.
2025 accounts filed 59 days after the deadlineTurnover not published (micro format)
Checked score
79
Excellent
Financially stronger than 26% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025lowest value
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: 0.1%▲ +0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.2%▲ +0.1 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.5%▲ +0.3 percentage points vs 09-2026highest value
11-2026: 0.5%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Loss of €22,480, the second in a row (financial year 2025)
Last filed accounts filed 59 days late; 1 of the last 3 accounts late
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Size: total assets €75,189
Calculation
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 70, micro). It does better than 59% of them on solvency, 21% on liquidity, 4% on profitability and 18% 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 very low class on 30-06-2025, 0.1% 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).
Comparable companies, two years later
In July 2024, 4,805 companies had the same profile as PROTEA MANAGEMENT has now. Each dot stands for 13 companies, two years later.
88.1%
were still trading
9.8%
stopped another way
2.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PROTEA MANAGEMENT itself: 0.5% within 12 months.
Test of the method
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 4,805 companies, not a prediction for PROTEA MANAGEMENT. 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.
Credit verdict
Credit of up to €3,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.79 (3.35 in 2024), above the usual 1.5. Short-term debt is 35.8% and cash 6.2% of total assets. 35.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€22,480
raises risk · 2025 accounts filed 59 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-09-2026, 59 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
59 days late
2024
8 days early
2023
42 days early
2022
2 days late
2021
16 days late
2020
27 days late
2019
15 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 6 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 2 August (4 of the last 5 accounts filed within 43 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0545786831
1 director appointed, 2 reappointments
Reappointments: Kerry-Ann Barendse and Sean Smilkstein · Appointment: Sean Smilkstein (managing director) · General meeting of 30-06-2024 · Gazette deed
Reappointments: BARENDSE Kerry-Anne (director) and SMILKSTEIN Sean (director)
Legal-form conversion: from coöperatieve vennootschap met beperkte aansprakelijkheid to private limited company · Gazette deed
2 directors appointed, 2 resignations
Resignations: ASTLE Robin Raymond Eli and STEVENS Tom · Appointments: Kerry-Ann Barendse and Sean Smilkstein · General meeting of 31-10-2019 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PROTEA MANAGEMENT Edegem | €75,189 | -€20,569 | 64.2% | - |
| JSH-Solutions Edegem | €60,186 | -€8,659 | 23.3% | - |
| Startups.be Sint-Katelijne-Waver | €73,323 | -€2,033 | -901.7% | - |
| VARIAS Antwerp | €83,046 | -€9,833 | 22.9% | - |
| G4 GROUP Antwerp | €78,533 | -€49,073 | 86.2% | - |
| JR Racing Bornem | €66,686 | -€32,593 | -35.3% | - |
| KJEBO Bonheiden | €85,949 | -€13,975 | 80.1% | - |
These companies have the same main activity as PROTEA MANAGEMENT: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €60,200 and €85,900, founded between 2013 and 2015.
Official details
Source: KBO- Status
- Active since 30-01-2014Normal situation
- Activity
- Business and other management consultancyNACE 70200
- Establishment unit
- 2.228.152.0592650 Edegem, since 30-01-2014
- Financial year end
- 31 December
- Peppol
- Reachable since 06-08-2025
Insights on PROTEA MANAGEMENT
PROTEA MANAGEMENT files the micro format. That format states no turnover. The gross margin fell from €135,388 in 2014 to -€20,569 in 2025.
In February 2025, the Official Gazette published the appointment of Sean Smilkstein as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PROTEA MANAGEMENT
- What is the company number of PROTEA MANAGEMENT?
- The company number of PROTEA MANAGEMENT is 0545.786.831. The VAT number is the same number with BE in front: BE 0545.786.831.
- Where is PROTEA MANAGEMENT based?
- The registered office is at Jonkersaard 6, 2650 Edegem.Company details
- What does PROTEA MANAGEMENT do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of PROTEA MANAGEMENT?
- PROTEA MANAGEMENT is a private limited company (BV).
- When was PROTEA MANAGEMENT founded?
- PROTEA MANAGEMENT was founded on 30-01-2014.
- Is PROTEA MANAGEMENT still active?
- Yes, PROTEA MANAGEMENT is an active enterprise in the KBO register.
- What is the turnover of PROTEA MANAGEMENT?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is PROTEA MANAGEMENT profitable?
- In financial year 2025, PROTEA MANAGEMENT made a loss of €22,480.
- Where can I find the annual accounts of PROTEA MANAGEMENT?
- PROTEA MANAGEMENT filed 12 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PROTEA MANAGEMENT due?
- PROTEA MANAGEMENT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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