Racing Projects
ActiveSummary
The computed 12-month bankruptcy probability of Racing Projects is 2.5% (moderate). The 2025 annual accounts show negative equity (€-130k) and a net result of €-30k. Equity is shrinking by ~68% per year across the filed fiscal years. Its solvency ranks better than 5% of 7058 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-40
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.16 against 0.25 in 2024; short-term debt: 180.1% and cash: 19.8% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
-721.6%
Return on assets
-167.7%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €-130k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
7 d late
2024
47 d late
2023
19 d early
2022
3 d early
2021
32 d early
2020
17 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-130k▼ 30.3%
2024 · €-100k
Total assets
€18k▼ 59.7%
2024 · €45k
Net result
€-30k▲ 9.5%
2024 · €-34k
Working capital
€-27k▼ 25.8%
2024 · €-22k
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
Line20212022202320242025
Operating result€2k▲ 211%€-31k€-39k▼ 24.5%€-33k▲ 15.0%€-30k▲ 8.7%
Net result€1k▲ 315%€-32k€-39k▼ 24.2%€-34k▲ 15.0%€-30k▲ 9.5%
Equity€5k▲ 37.7%€-27k€-67k▼ 145%€-100k▼ 50.3%€-130k▼ 30.3%
Total assets€131k▲ 92.7%€116k▼ 11.6%€79k▼ 31.5%€45k▼ 43.4%€18k▼ 59.7%
Debt€126k▲ 95.5%€143k▲ 13.1%€146k▲ 2.1%€145k▼ 0.6%€149k▲ 2.5%
Working capital€-2k▲ 92.2%€-21k▼ 746%€-24k▼ 14.1%€-22k▲ 7.7%€-27k▼ 25.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €30k in 2025 against €33k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18k
Fixed assets
€13k ▼ 65.6%
Current assets
€5k ▼ 28.6%
Key figures and ratios
EBITDA
€-6k▼
2024 · €2k
Cash flow
€-6k▼
2024 · €2k
Solvency
-721.6%▼
2024 · -223.5%
Current ratio
0.16▼
2024 · 0.25
Debt to equity
-1.14▲
2024 · -1.45
ROA
-167.7%▼
2024 · -74.8%
Interest coverage
-69.40▼
2024 · 4.75
Debt ≤ 1 year
€33k▲
2024 · €29k
Debt > 1 year
€115k=
2024 · €115k
Income taxes
€-4▼
2024 · €13
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €784 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33k | €38k | €38k | €35k | €25k | ▼ 29.5% |
| Other operating charges640/8 | €3k | €1k | €2k | €2k | €2k | ▲ 2.7% |
| Gross operating margin9900 | €38k | €8k | €2k | €4k | €-4k | ▼ 207% |
| Operating profit (loss)9901 | €2k | €-31k | €-39k | €-33k | €-30k | ▲ 8.7% |
| Financial income75/76B | - | - | €24 | €60 | €47 | ▼ 22.9% |
| Recurring financial income75 | - | - | €24 | €60 | €47 | ▼ 22.9% |
| Financial charges65/66B | €712 | €395 | €418 | €390 | €81 | ▼ 79.3% |
| Recurring financial charges65 | €712 | €395 | €418 | €390 | €81 | ▼ 79.3% |
| Profit (loss) for the period before taxes9903 | €1k | €-32k | €-39k | €-33k | €-30k | ▲ 9.5% |
| Income taxes67/77 | - | - | €5 | €13 | €-4 | ▼ 131% |
| Profit (loss) for the period9904 | €1k | €-32k | €-39k | €-34k | €-30k | ▲ 9.5% |
| Profit (loss) for the period to be appropriated9905 | €1k | €-32k | €-39k | €-34k | €-30k | ▲ 9.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €131k | €116k | €79k | €45k | €18k | ▼ 59.7% |
| Fixed assets21/28 | €122k | €109k | €73k | €38k | €13k | ▼ 65.6% |
| Intangible fixed assets21 | €24k | €18k | €12k | €6k | - | - |
| Tangible fixed assets22/27 | €98k | €91k | €61k | €32k | €13k | ▼ 59.1% |
| Plant, machinery and equipment23 | €17k | €13k | €11k | €8k | €5k | ▼ 31.6% |
| Furniture and vehicles24 | €81k | €78k | €50k | €24k | €7k | ▼ 68.3% |
| Financial fixed assets28 | €20 | €20 | €20 | €20 | €20 | = |
| Current assets29/58 | €9k | €7k | €7k | €7k | €5k | ▼ 28.6% |
| Amounts receivable within one year40/41 | €2k | €1k | €2k | €1k | €1k | ▼ 3.5% |
| Trade receivables40 | - | - | €1k | €695 | €605 | ▼ 13.0% |
| Other amounts receivable41 | €2k | €1k | €1k | €539 | €586 | ▲ 8.7% |
| Cash at bank and in hand54/58 | €5k | €5k | €4k | €6k | €4k | ▼ 35.9% |
| Deferred charges and accrued income490/1 | €1k | €391 | €283 | €323 | €334 | ▲ 3.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €131k | €116k | €79k | €45k | €18k | ▼ 59.7% |
| Equity10/15 | €5k | €-27k | €-67k | €-100k | €-130k | ▼ 30.3% |
| Contributions10/11 | €3k | €3k | €3k | €3k | €3k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | - | €-32k | €-71k | €-105k | €-135k | ▼ 29.0% |
| Amounts payable17/49 | €126k | €143k | €146k | €145k | €149k | ▲ 2.5% |
| Amounts payable after more than one year17 | €115k | €115k | €115k | €115k | €115k | = |
| Financial debts170/4 | €115k | €115k | €115k | €115k | €115k | = |
| Amounts payable within one year42/48 | €11k | €27k | €30k | €29k | €33k | ▲ 12.4% |
| Current portion of amounts payable after more than one year42 | - | €15k | €15k | €15k | €15k | = |
| Trade debts44 | €279 | €580 | €1k | €227 | €63 | ▼ 72.3% |
| Suppliers440/4 | €279 | €580 | €1k | €227 | €63 | ▼ 72.3% |
| Taxes, remuneration and social security45 | €1k | - | €2 | €2 | - | - |
| Taxes450/3 | €1k | - | €2 | €2 | - | - |
| Other amounts payable47/48 | €9k | €12k | €14k | €14k | €18k | ▲ 26.4% |
| Accrued charges and deferred income492/3 | €600 | €900 | €1k | €2k | €2k | ▼ 0.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1k | €-32k | €-39k | €-34k | €-30k | ▲ 9.5% |
| + Depreciation and write-downs630 | €33k | €38k | €38k | €35k | €25k | ▼ 29.5% |
| Operating cash flow (approximation) | €34k | €6k | €-935 | €2k | €-6k | ▼ 473% |
| Investment in fixed assets (approximation) | - | €-25k | €-2k | €0 | €0 | - |
| Change in cash | - | €109 | €-1k | €2k | €-2k | ▼ 212% |
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
Next filing, fiscal year 2026, expected by
2026
07-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 7 days late
2025
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 47 days late
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-39k
Net result drops to €-39k, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2020net €1k ▲315%
Operating result €2k, net result €1k, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · 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, Willebroek · 1 establishment unit since 2019
Ground area
470 m²
Building footprint
292 m²
Volume, LiDAR
2,923 m³
Parcel 12342B0048/00F000, Flanders · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Racing Projects
since 20192.292.997.450
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12342B0048/00F000 | Flanders | 470 m² | 1 · 292 m² | 13.4 m · 3 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.
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Of 9,862 companies in sector 73110 we hold annual accounts for 3,752. 1,440 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
Founded06-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
29320Manufacture of motor vehicles, trailers and semi-trailers
Contact
Website
racingprojects.com
E-mail
info@racingprojects.com
Scores and ratios are computed by Checked and are not a credit decision.