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pylyser projects

Active
Private limited company (pre-2019)founded 200224 yrs activeDe Kalkaart 40, 8430 Middelkerke, BelgiumKBO/BCE: BE 0477.118.947
Summary

pylyser projects has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €18,995 and a net result of -€2,561. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 1.0% (low).

Checked score

Score 2026
Axes · tick = 2025
Profitability57▼-3
Solvency28▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.38 against 0.4 in 2025; short-term debt: 68.2% and cash: 26% of total assets), and 96.6% 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 · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 24 years 0 30 y
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2026
Solvency, return and age of the figures
Solvency
3.4%
Return on assets
-0.5%
Age of the figures
6 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 22-09-2026, 39 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2026
39 d early
2025
161 d early
2024
48 d early
2023
1 d early
2022
7 d early
2021
6 d early
2020
41 d late
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 7 accounts on average 32 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
27-09-2026 today31-03-2027 close31-10-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 5 April 2002, pylyser projects was incorporated.1 Total assets went from EUR 338,156 in 2019 to EUR 560,465 in 2026.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2019 and 2026

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Financials · fiscal year 2026, micro schema

Equity
€18,995▼ 11.9%
2025 · €21,556
Total assets
€560,465▼ 3.7%
2025 · €582,246
Net result
-€2,561▼ 42.9%
2025 · -€1,792
Working capital
-€236,384▼ 1.2%
2025 · -€233,525
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
Line20222023202420252026
Operating result€34,736▲ 928%€890▼ 97.4%€117▼ 86.9%€776▲ 564%-€784
Net result€31,697▲ 15,845%-€1,994-€2,628▼ 31.8%-€1,792▲ 31.8%-€2,561▼ 42.9%
Equity€27,970€25,976▼ 7.1%€23,348▼ 10.1%€21,556▼ 7.7%€18,995▼ 11.9%
Total assets€1.1m▲ 25.8%€1.1m▼ 2.4%€596,539▼ 45.4%€582,246▼ 2.4%€560,465▼ 3.7%
Debt€1.1m▲ 22.1%€1.1m▼ 2.2%€573,191▼ 46.2%€560,690▼ 2.2%€541,470▼ 3.4%
Working capital-€213,718▲ 38.6%-€228,510▼ 6.9%-€231,435▼ 1.3%-€233,525▼ 0.9%-€236,384▼ 1.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€10,000€0€10,000€20,000€30,000Operating result 2022: €34,736€34,736Net result 2022: €31,697€31,697Operating result 2023: €890€890Net result 2023: -€1,994-€1,994Operating result 2024: €117€117Net result 2024: -€2,628-€2,628Operating result 2025: €776€776Net result 2025: -€1,792-€1,792Operating result 2026: -€784-€784Net result 2026: -€2,561-€2,56120222023202420252026-€3,000-€2,000-€1,000€0€1,000Operating result 2024: €117€117Net result 2024: -€2,628-€2,630Operating result 2025: €776€776Net result 2025: -€1,792-€1,790Operating result 2026: -€784-€784Net result 2026: -€2,561-€2,560202420252026
The operating result turns negative in 2026: a loss of €784 after €776 in 2025, the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €560,465
Fixed assets €414,754 ▼ 2.9%
Current assets €145,712 ▼ 6.2%
Equity and liabilities €560,465
Equity €18,995 ▼ 11.9%
Debt €541,470 ▼ 3.4%
Debt's share of the balance-sheet total rises from 96.3% to 96.6%. Equity and debt are lower.
Key figures and ratios
2026 value · change against 2025
EBITDA
€11,419▼
2025 · €12,978
Cash flow
€9,641▼
2025 · €10,410
Current ratio
0.38▼
2025 · 0.40
Debt to equity
28.51▲
2025 · 26.01
ROE
-13.5%▼
2025 · -8.3%
ROA
-0.5%▼
2025 · -0.3%
Interest coverage
4.64▼
2025 · 4.96
Debt ≤ 1 year
€382,096▼
2025 · €388,816
Debt > 1 year
€159,375▼
2025 · €171,875
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,102 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 94% are still going.

  • Small
  • 20 years or older
  • solvency under 10%
  • a small loss
1.5% went bankrupt
3.5% stopped otherwise
94% still going

A further 0.7% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.

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%.

The companies in ten equal groups, from lowest to highest expected share.
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 1,102 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
Filed annual accounts As filed with the NBB · 2026 against 2025 · 35 lines
Balance sheet Code20252026
Assets
Total assets20/58€582,246€560,465▼
Fixed assets21/28€426,956€414,754▼
Tangible fixed assets22/27€426,956€414,754▼
Land and buildings22€426,956€414,754▼
Current assets29/58€155,291€145,712▼
Amounts receivable within one year40/41-€205
Other amounts receivable41-€205
Cash at bank and in hand54/58€155,291€145,506▼
Equity and liabilities
Total equity and liabilities10/49€582,246€560,465▼
Equity10/15€21,556€18,995▼
Contributions10/11€11,667€11,667=
Reserves13€2,184€2,184=
Non-distributable reserves130/1€2,000€2,000=
Reserves not available under the articles1311€2,000€2,000=
Tax-exempt reserves132€184€184=
Profit (loss) carried forward14€7,705€5,144▼
Amounts payable17/49€560,690€541,470▼
Amounts payable after more than one year17€171,875€159,375▼
Financial debts170/4€171,875€159,375▼
Amounts payable within one year42/48€388,816€382,096▼
Current portion of amounts payable after more than one year42€12,500€12,500=
Other amounts payable47/48€376,316€369,596▼
Income statement Code20252026
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12,202€12,202=
Other operating charges640/8€1,529€1,520▼
Gross operating margin9900€14,507€12,939▼
Operating profit (loss)9901€776-€784▼
Financial income75/76B€48€684▲
Recurring financial income75€48€684▲
Financial charges65/66B€2,616€2,462▼
Recurring financial charges65€2,616€2,462▼
Profit (loss) for the period before taxes9903-€1,792-€2,561▼
Profit (loss) for the period9904-€1,792-€2,561▼
Profit (loss) for the period to be appropriated9905-€1,792-€2,561▼
Appropriation of the result
Profit (loss) to be appropriated9906€7,705€5,144▼
Profit (loss) brought forward from the previous period14P€9,498€7,705▼

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20222023202420252026Change
Non-recurring operating income76A€34,820-----
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12,202€12,202€12,202€12,202€12,202=
Other operating charges640/8€1,275€1,303€1,445€1,529€1,520▼ 0.6%
Non-recurring operating charges66A€118-----
Gross operating margin9900€48,332€14,395€13,765€14,507€12,939▼ 10.8%
Operating profit (loss)9901€34,736€890€117€776-€784▼ 201%
Financial income75/76B--€1€48€684▲ 1,322%
Recurring financial income75--€1€48€684▲ 1,322%
Financial charges65/66B€3,040€2,884€2,745€2,616€2,462▼ 5.9%
Recurring financial charges65€3,040€2,884€2,745€2,616€2,462▼ 5.9%
Profit (loss) for the period before taxes9903€31,697-€1,994-€2,627-€1,792-€2,561▼ 42.9%
Income taxes67/77--€0---
Profit (loss) for the period9904€31,697-€1,994-€2,628-€1,792-€2,561▼ 42.9%
Profit (loss) for the period to be appropriated9905€31,697-€1,994-€2,628-€1,792-€2,561▼ 42.9%
Line20222023202420252026Change
Assets
Total assets20/58€1.1m€1.1m€596,539€582,246€560,465▼ 3.7%
Fixed assets21/28€463,563€451,361€439,158€426,956€414,754▼ 2.9%
Tangible fixed assets22/27€463,563€451,361€439,158€426,956€414,754▼ 2.9%
Land and buildings22€463,563€451,361€439,158€426,956€414,754▼ 2.9%
Current assets29/58€654,598€640,306€157,381€155,291€145,712▼ 6.2%
Amounts receivable within one year40/41€631,625€619,600--€205-
Trade receivables40€12,000-----
Other amounts receivable41€619,625€619,600--€205-
Cash at bank and in hand54/58€22,973€20,706€157,381€155,291€145,506▼ 6.3%
Equity and liabilities
Total equity and liabilities10/49€1.1m€1.1m€596,539€582,246€560,465▼ 3.7%
Equity10/15€27,970€25,976€23,348€21,556€18,995▼ 11.9%
Contributions10/11€11,667€11,667€11,667€11,667€11,667=
Reserves13€2,184€2,184€2,184€2,184€2,184=
Non-distributable reserves130/1€2,000€2,000€2,000€2,000€2,000=
Reserves not available under the articles1311€2,000€2,000€2,000€2,000€2,000=
Tax-exempt reserves132€184€184€184€184€184=
Profit (loss) carried forward14€14,120€12,125€9,498€7,705€5,144▼ 33.2%
Amounts payable17/49€1.1m€1.1m€573,191€560,690€541,470▼ 3.4%
Amounts payable after more than one year17€221,875€196,875€184,375€171,875€159,375▼ 7.3%
Financial debts170/4€221,875€196,875€184,375€171,875€159,375▼ 7.3%
Amounts payable within one year42/48€868,316€868,816€388,816€388,816€382,096▼ 1.7%
Current portion of amounts payable after more than one year42-€12,500€12,500€12,500€12,500=
Trade debts44€20,957-----
Suppliers440/4€20,957-----
Other amounts payable47/48€847,358€856,316€376,316€376,316€369,596▼ 1.8%
Line20222023202420252026Change
Profit (loss) for the period9904€31,697-€1,994-€2,628-€1,792-€2,561▼ 42.9%
+ Depreciation and write-downs630€12,202€12,202€12,202€12,202€12,202=
Operating cash flow (approximation)€43,899€10,208€9,575€10,410€9,641▼ 7.4%
Investment in fixed assets (approximation)-€0€0€0€0-
Change in cash--€2,267€136,675-€2,090-€9,784▼ 368%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2027, expected by 31-10-2027
2026
22-09
NBB filing Annual accounts filed
fiscal year 2026 · micro schema
2025
23-05
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2024
13-09
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2022
24-10
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial Highest result since 2019net €31,697 ▲15,845%
Operating result €34,736, net result €31,697, both a record.
2021
25-10
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial Back to profitnet €199
Net result €199 after one loss-making year.
2020
11-12
NBB filing Annual accounts filed
fiscal year 2020 · micro schema · 41 days late
31-03
Financial Weakest financial yearnet -€4,543
Net result drops to -€4,543, the lowest in the series; recovery starts the following year.
2019
04-07
NBB filing Annual accounts filed
fiscal year 2019 · micro schema
2018
21-09
NBB filing Annual accounts filed
fiscal year 2018 · micro schema
2017
13-09
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 act for this company is 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, Middelkerke · 1 establishment unit since 2002
seat establishment The establishment unit on the map
Ground area
3,234 m²
Building footprint
953 m²
Volume, LiDAR
5,376 m³
2 parcels, Flanders · tallest building 34.3 m, ±11 floors. Linked by address, not a title deed.
3 companies at this address See who is registered here
1 establishment unit
Zeedijk 331, 8430 Middelkerke
NACE 7414101
since 20022.101.782.340
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
35011A0446/00B000 Flanders 3,055 m² 1 · 781 m² 0.1 m
35323D0595/00E039 Flanders 179 m² 1 · 172 m² 34.3 m · 11 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Identification & contact

Identification
Legal formPrivate limited company (pre-2019)
Founded05-04-2002
Fiscal year end31-03
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

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Register as of 26 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.