Losses
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Higher solvency than 95% of companies in head offices and management consultancy. Sector median 55.5% · 39,368 companies.
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 2 in 1,000 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 70, micro). It does better than 86% of them on solvency, 86% on liquidity, 4% on profitability and 26% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
Liquidity is ample, with a current ratio of 28.1, above the usual 1.5. Short-term debt is 1.3% and cash 33.9% of total assets. 1.3% of the assets are financed with debt and provisions.
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 2 accounts on average 3 days before 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.
Shares in 1 company, DV Project Development
Board & ownership| Company | ||||
|---|---|---|---|---|
| RED Projects Schoten | €15,554 | -€1,822 | 98.7% | - |
| JVG Technics Puurs-Sint-Amands | €15,193 | -€3,411 | 19.9% | - |
| Technisch Innovatief Maatwerk Kapellen | €17,795 | €248 | -2.1% | - |
| Phina Consultancy Zandhoven | €17,308 | -€2,195 | 89.2% | - |
| Delta 6 Ghent | €14,011 | -€17,952 | 85.6% | - |
| Milicom Brasschaat | €21,951 | -€25,831 | -115.9% | - |
| Ki-Ja Dessel | €20,763 | €212 | 8.6% | - |
These companies have the same main activity as RED Projects: activities of head offices (NACE 70100). They are comparable in size and age: total assets between €14,000 and €22,000, founded between 2024 and 2025.
RED Projects has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €15,356 and a net result of -€2,342.
Its solvency ranks better than 95% of 39,368 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them.
Higher than 95% of 39,368 companies in 2025.
Higher than 95% of 38,051 companies in 2025.
Higher than 8% of 38,523 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
15,554 | 17,698 | |
21/28 |
10,000 | 10,000 | |
28 |
10,000 | 10,000 | |
29/58 |
5,554 | 7,698 | |
40/41 |
287 | 369 | |
41 |
287 | 369 | |
54/58 |
5,267 | 7,328 | |
| Balance sheet: equity and liabilities | |||
10/49 |
15,554 | 17,698 | |
10/15 |
15,356 | 17,698 | |
10/11 |
20,000 | 20,000 | |
14 |
-4,644 | -2,302 | |
17/49 |
198 | - | |
42/48 |
198 | - | |
44 |
198 | - | |
440/4 |
198 | - | |
| Income statement | |||
9900 |
-1,822 | -1,915 | |
640/8 |
520 | 387 | |
9901 |
-2,342 | -2,302 | |
9903 |
-2,342 | -2,302 | |
9904 |
-2,342 | -2,302 | |
9905 |
-2,342 | -2,302 | |
| Appropriation of the result | |||
9906 |
-4,644 | -2,302 | |
14P |
-2,302 | - | |
| Document | |||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-07-2026.
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| - | 10,000 | ||
| -2,062 | - | ||
| 5,356 | - | ||
| 98.7% | 100.0% | ||
| 28.10 | - | ||
| 0.01 | - | ||
| -15.2% | -13.0% | ||
| -15.1% | -13.0% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 |
|---|---|---|
| Financial fixed assets | - | €10,000 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €2,342, larger than the loss of €2,302 in 2024.
Debt's share of the balance-sheet total is 1.3%.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| MAPEX
registered office since 04-01-2021 · founded in 2021 |
0.7 FTE (2025) 0760.792.081 |
The network starts from the directors of RED Projects. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
RED Projects was incorporated on 21 October 2024 as a private limited company by one natural person, with a starting capital of €20,000.12 The registered office was moved to Schoten in 2026.3 DERUYTTERE Xavier Emile Nathalie is director of the company, appointed by deed of 23-10-2024.2
| Establishment | Since | Unit number |
|---|---|---|
| Nachtegalenlei 34 registered office 2900 Schoten | 21-10-2024 | 2.365.909.677 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11040D0160/03S005 | 4,130 m² | 1 · 231 m² | 4.0 m |
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