RIVUS PROJECTS
ActiveSummary
RIVUS PROJECTS has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €434,914 and a net result of -€25,118. Its solvency ranks better than 62% of 5,767 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €434,914
- Loss
- -€25,118
- Parent
- COLINZ · 60%
- Board
- 5 members
Why 89raises riskNo registered site in the KBOFounded in 2023lowers riskSize: total assets €813,634Sector: Real estate activities (NACE 68)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 68, micro): better than 67% on solvency, 38% on liquidity, 26% on profitability and 33% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 30 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · abbreviated…
- IncorporationAppointments: CELSUS, ELSELEEN and 4…
Financials · financial year 2025, full format
2024 to 2025, 2 financial years
The operating result stays negative: a loss of €21,249 in 2025 against €39,709 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 480 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95.8% are still going.
- Small
- 2 to 5 years old
- solvency 30% or more
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 480 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €787 | €544 | ▼ 30.9% |
| Gross operating margin9900 | -€38,922 | -€20,705 | ▲ 46.8% |
| Operating profit (loss)9901 | -€39,709 | -€21,249 | ▲ 46.5% |
| Financial charges65/66B | €259 | €3,869 | ▲ 15× |
| Recurring financial charges65 | €259 | €3,869 | ▲ 15× |
| Profit (loss) for the period before taxes9903 | -€39,968 | -€25,118 | ▲ 37.2% |
| Profit (loss) for the period9904 | -€39,968 | -€25,118 | ▲ 37.2% |
| Profit (loss) for the period to be appropriated9905 | -€39,968 | -€25,118 | ▲ 37.2% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €590,985 | €813,634 | ▲ 37.7% |
| Current assets29/58 | €590,985 | €813,634 | ▲ 37.7% |
| Stocks and contracts in progress3 | €503,016 | €676,002 | ▲ 34.4% |
| Contracts in progress37 | €503,016 | €676,002 | ▲ 34.4% |
| Amounts receivable within one year40/41 | €57,061 | €29,765 | ▼ 47.8% |
| Trade receivables40 | - | €135 | - |
| Other amounts receivable41 | €57,061 | €29,630 | ▼ 48.1% |
| Cash at bank and in hand54/58 | €30,908 | €107,866 | ▲ 249% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €590,985 | €813,634 | ▲ 37.7% |
| Equity10/15 | €460,032 | €434,914 | ▼ 5.5% |
| Contributions10/11 | €500,000 | €500,000 | = |
| Contributions outside capital11 | €500,000 | €500,000 | = |
| Other1109/19 | €500,000 | €500,000 | = |
| Profit (loss) carried forward14 | -€39,968 | -€65,086 | ▼ 62.8% |
| Amounts payable17/49 | €130,952 | €378,719 | ▲ 189% |
| Amounts payable within one year42/48 | €130,952 | €375,175 | ▲ 186% |
| Trade debts44 | €130,952 | €164,175 | ▲ 25.4% |
| Suppliers440/4 | €130,952 | €164,175 | ▲ 25.4% |
| Other amounts payable47/48 | - | €211,000 | - |
| Accrued charges and deferred income492/3 | - | €3,544 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€39,968 | -€25,118 | ▲ 37.2% |
| Operating cash flow (approximation) | -€39,968 | -€25,118 | ▲ 37.2% |
| Change in cash | - | €76,958 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 24-06-2026 | 2026-00199674 |
| 31-12-2024 | abbreviated format | 09-07-2025 | 2025-00254597 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 5
Permanent representatives 3
Other functions 3
Mandate history
- Board
- Other function
| Name | Functions and periods |
|---|---|
| CELSUS |
|
| ELSELEEN |
|
| VERBERCKMOES Gunter Maria Louis |
|
| VERBERCKMOES HOLDING |
|
| VERBERCKMOES Tess Paula Louis |
|
| COLINZ |
|
| CORABOfrom an act |
|
Owners and capital
Owners
3 ownersChain of control
- COLINZ NV
- COLINZ
- RIVUS PROJECTS
Highest known parent: COLINZ NV. The sources do not say who stands above it.
Owners 3
- COLINZparentSourceaccounts COLINZ 202560%
- COLINZ NVconsolidating parentconsolidates
-
40%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- CORABO (BE 0504.959.828) 60 shares (60%) · €300,000
- IMMO ERGUMA (BE 0446.146.154) 40 shares (40%) · €200,000
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 26-05-2023 Incorporation · €500,000 · 100 shares
Group and network
Connections & network
6 connected companiesShow 2 more companies with a shared director
History
Acts, filings and financial milestones
26-05
Gazette deed
IncorporationAppointments: CELSUS, ELSELEEN and 4 others · Permanent representatives: VANDENBUSSCHE Dirk Théophille Léon, VANDENBUSSCHE Leen and VERBERCKMOES Marc Leon · Founder19 facts ▸
- Incorporation, “RIVUS PROJECTS” (deed in Dutch)
- Founder, CORABO
- Founder, IMMO ERGUMA
- Founding capital, €500,000
- Capital
- Registered office clause, “9880 Aalter,Groendreef 37/2A” (deed in Dutch)
- Board rule, “onbepaalde duur”, 2 (deed in Dutch)
- Director appointment, CELSUS (director)
- Permanent representative, VANDENBUSSCHE Dirk Théophille Léon
- Director appointment, ELSELEEN (alternate director)
- Permanent representative, VANDENBUSSCHE Leen
- Director appointment, VERBERCKMOES HOLDING (director)
- +7 further facts in this act
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0802.053.012
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44503H0041/00A000 | Flanders | 8,037 m² | 1 · 2,698 m² | 9.0 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De samenstelling en het beheer van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden,het verwerven door…” (deed in Dutch)
16 activities (deed in Dutch)
- De samenstelling en het beheer van een onroerend vermogen en de huurfinanciering van onroerende goederen aan derden,het verwerven door aankoop of anderszins,het verkopen,het ruilen,het bouwen,het verbouwen,het verbeteren,het uitrusten,het aanpassen,het verfraaien,het onderhouden,het verhuren,het huren,het verkavelen,het prospecteren en het uitbaten van onroerende goederen,alsmede handelingen die rechtstreeks of onrechtstreeks met dit doel in verband staan en die van aard zijn de uitbreiding en de opbrengst van de onroerende goederen te bevorderen,alsmede het zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen
- Het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin,alle handels- en financiële operaties verrichten,behalve deze die wettelijk voorbehouden zijn aan depositobanken,houders van deposito’s op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatieondernemingen
- Het verlenen van adviezen van financiële,technische,commerciële of administratieve aard;in de ruimste zin,met uitzondering van adviesverschaffing inzake beleggingen en geldplaatsingen,bijstand en diensten verlenen,rechtstreeks of onrechtstreeks op het vlak van administratie en financiën,verkoop,productie en algemeen bestuur;het verlenen van alle dienstprestaties en het uitvoeren van alle opdrachten onder de vorm van organisatiestudies,expertises,technische handelingen en raadgevingen of andere op eender welk vlak binnen het maatschappelijk voorwerp
- De expertise,het beheer,het valoriseren en het laten bouwen of verbouwen van onroerende goederen van alle aard,alsmede de coördinatie van de leiding van dergelijke werken,alle studies ontwerpen en plannen opvatten,maken en uitwerken,alsook het opmaken van een bouwprogramma met bijhorende architectuur-en omgevingsplannen
- Het bekomen van een definitieve en uitvoerbare omgevingsvergunning
- De studie,de inschrijving en de uitvoering van bouwwerken in de meest ruime zin
- De commercialisatie en verkoop van toekomstige projecten,het optreden als verhurings-en/of verkoopsagent en de vastgoedmakelarij in het algemeen
- De uitvoering van alle aanverwante en/of bijkomende werken die door de uiteindelijke afnemers aan de vennootschap worden gevraagd in het kader van toekomstige projecten
- De exploitatie van een immobiliënkantoor en woningbureau met inbegrip van tussenkomsten bij contracten van leningen,financiering,verzekeringsbemiddelingen van alle risico’s en alle administratie en beheerszaken dienaangaande
- Het verkavelen van gronden,wouden en domeinen,het bebossen of ontbossen,het in pand geven van onroerende goederen van de vennootschap,zelfs als waarborg voor leningen of kredietopeningen toegestaan aan derden
- De activiteiten van vastgoedpromotie,projectontwikkeling en projectmanagement en bouwpromotie,van zowel residentiële als niet-residentiële gebouwen,appartementsgebouwen,woningen of kantoorgebouwen,zowel nieuwbouw-als renovatieprojecten,al dan niet volgens de formule “sleutel op de deur”
- Het beheren en onderhouden van onroerende goederen,en meer bepaald het uitvoeren van alle syndicopdrachten voor rekening van derden
- De aan-en verkoop,in-en uitvoer,commissiehandel en vertegenwoordiging van om het even welke goederen,in ‘t kort tussenpersoon in de handel
- Het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,knowhow en aanverwante immateriële duurzame activa
- Het onderzoek,de ontwikkeling,de vervaardiging of commercialisering van nieuwe producten,nieuwe vormen van technologie en hun toepassingen
- Het verlenen van advies,bijstand en hulp onder alle mogelijke vormen aan derden met betrekking tot alle voormelde activiteiten
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- RIVUS PROJECTS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, enkel besluit bestuursorgaan” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan/Bestuurscomité, 1” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Tuesday of June at 17:00
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor