SB PROJECTS
ActiveSummary
SB PROJECTS has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €194,952 and a net result of €231. Equity is growing by ~20.9% per year across the filed fiscal years. Its solvency ranks better than 38% of 301 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
59
/ 100
Fair
The figures in the accounts for fiscal year 2024 give a score of 59 on their own. A confirmed filing finding caps the score. Each of these causes sets the same score on its own. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability59▼-14
Solvency58=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.1 against 1.36 in 2023; short-term debt: 66.2% and cash: 19.6% of total assets), and 66.5% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)
about 8% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-10-2025, 92 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
92 d late
2023
72 d late
2022
25 d early
2021
26 d early
2020
43 d early
2019
8 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 10 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€194,952▲ 0.1%
2023 · €194,721
Total assets
€582,785▼ 2.7%
2023 · €598,934
Net result
€231▼ 98.9%
2023 · €20,778
Working capital
€39,406▼ 72.5%
2023 · €143,061
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
Line20202021202220232024
Operating result€13,824▼ 79.7%€90,182▲ 552%€155,386▲ 72.3%€39,093▼ 74.8%€15,283▼ 60.9%
Net result€6,340▼ 86.7%€66,344▲ 946%€107,941▲ 62.7%€20,778▼ 80.8%€231▼ 98.9%
Equity€66,502▲ 10.5%€132,847▲ 99.8%€173,944▲ 30.9%€194,721▲ 11.9%€194,952▲ 0.1%
Total assets€255,796▼ 4.4%€376,693▲ 47.3%€545,447▲ 44.8%€598,934▲ 9.8%€582,785▼ 2.7%
Debt€189,293▼ 8.7%€243,846▲ 28.8%€371,503▲ 52.4%€404,212▲ 8.8%€387,832▼ 4.1%
Working capital€29,481▼ 16.0%€104,447▲ 254%€118,352▲ 13.3%€143,061▲ 20.9%€39,406▼ 72.5%
Staff (FTE)4.6▲ 76.9%5▲ 8.7%6.3▲ 26.0%5▼ 20.6%5=
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 61% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €582,785
Fixed assets
€157,463 ▲ 172%
Current assets
€425,322 ▼ 21.4%
Equity and liabilities €582,785
Equity
€194,952 ▲ 0.1%
Debt
€387,832 ▼ 4.1%
Debt's share of the balance-sheet total falls from 67.5% to 66.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€40,203▼
2023 · €68,465
Cash flow
€25,151▼
2023 · €50,150
Current ratio
1.10▼
2023 · 1.36
Quick ratio
0.86▼
2023 · 1.01
Debt to equity
1.99▼
2023 · 2.08
ROE
0.1%▼
2023 · 10.7%
ROA
0.0%▼
2023 · 3.5%
Interest coverage
4.81▼
2023 · 10.44
Debt ≤ 1 year
€385,916▼
2023 · €397,990
Debt > 1 year
€1,916▼
2023 · €6,222
Income taxes
€7,263▼
2023 · €13,046
Staff costs
€382,687▲
2023 · €346,887
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,047 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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%.
| 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 5,047 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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €13,338 | €0 | - | €20,215 | - |
| Remuneration, social security and pensions62 | - | €287,136 | €368,246 | €346,887 | €382,687 | ▲ 10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,143 | €29,451 | €35,159 | €29,372 | €24,920 | ▼ 15.2% |
| Other operating charges640/8 | - | €4,225 | €4,610 | €5,179 | €18,101 | ▲ 249% |
| Gross operating margin9900 | €256,658 | €410,994 | €563,402 | €420,531 | €440,992 | ▲ 4.9% |
| Operating profit (loss)9901 | €13,824 | €90,182 | €155,386 | €39,093 | €15,283 | ▼ 60.9% |
| Financial income75/76B | - | €1,448 | €1,727 | €1,287 | €1,069 | ▼ 16.9% |
| Recurring financial income75 | €126 | €1,448 | €1,727 | €1,287 | €1,069 | ▼ 16.9% |
| Financial charges65/66B | - | €5,685 | €11,743 | €6,556 | €8,858 | ▲ 35.1% |
| Recurring financial charges65 | €1,801 | €5,685 | €11,743 | €6,556 | €8,358 | ▲ 27.5% |
| Non-recurring financial charges66B | - | - | - | - | €500 | - |
| Profit (loss) for the period before taxes9903 | €12,149 | €85,945 | €145,370 | €33,824 | €7,494 | ▼ 77.8% |
| Income taxes67/77 | €5,809 | €19,601 | €37,429 | €13,046 | €7,263 | ▼ 44.3% |
| Profit (loss) for the period9904 | €6,340 | €66,344 | €107,941 | €20,778 | €231 | ▼ 98.9% |
| Profit (loss) for the period to be appropriated9905 | €6,340 | €66,344 | €107,941 | €20,778 | €231 | ▼ 98.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €255,796 | €376,693 | €545,447 | €598,934 | €582,785 | ▼ 2.7% |
| Fixed assets21/28 | €63,688 | €58,392 | €78,156 | €57,883 | €157,463 | ▲ 172% |
| Tangible fixed assets22/27 | €63,553 | €57,757 | €77,521 | €57,248 | €157,328 | ▲ 175% |
| Land and buildings22 | - | €5,168 | €1,520 | €0 | - | - |
| Plant, machinery and equipment23 | - | €24,304 | €10,650 | €3,664 | €799 | ▼ 78.2% |
| Furniture and vehicles24 | - | €28,285 | €65,351 | €53,584 | €33,824 | ▼ 36.9% |
| Other tangible fixed assets26 | - | - | - | - | €122,705 | - |
| Financial fixed assets28 | €135 | €635 | €635 | €635 | €135 | ▼ 78.7% |
| Current assets29/58 | €192,108 | €318,301 | €467,290 | €541,051 | €425,322 | ▼ 21.4% |
| Amounts receivable after more than one year29 | - | €57,000 | €54,000 | €51,000 | €48,000 | ▼ 5.9% |
| Other amounts receivable291 | - | €57,000 | €54,000 | €51,000 | €48,000 | ▼ 5.9% |
| Stocks and contracts in progress3 | €2,500 | €2,500 | €147,087 | €137,685 | €92,623 | ▼ 32.7% |
| Stocks30/36 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Contracts in progress37 | - | €0 | €144,587 | €135,185 | €90,123 | ▼ 33.3% |
| Amounts receivable within one year40/41 | €115,934 | €177,859 | €218,610 | €267,770 | €170,396 | ▼ 36.4% |
| Trade receivables40 | - | €121,902 | €144,987 | €231,634 | €70,448 | ▼ 69.6% |
| Other amounts receivable41 | - | €55,957 | €73,622 | €36,136 | €99,948 | ▲ 177% |
| Cash at bank and in hand54/58 | €13,000 | €72,993 | €47,593 | €84,596 | €114,303 | ▲ 35.1% |
| Deferred charges and accrued income490/1 | - | €7,949 | €0 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €255,796 | €376,693 | €545,447 | €598,934 | €582,785 | ▼ 2.7% |
| Equity10/15 | €66,502 | €132,847 | €173,944 | €194,721 | €194,952 | ▲ 0.1% |
| Contributions10/11 | - | €12,400 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €54,102 | €54,102 | €54,102 | €54,102 | €54,102 | = |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | €52,247 | €52,247 | €52,247 | €52,247 | = |
| Profit (loss) carried forward14 | - | €66,344 | €101,291 | €122,069 | €122,300 | ▲ 0.2% |
| Amounts payable17/49 | €189,293 | €243,846 | €371,503 | €404,212 | €387,832 | ▼ 4.1% |
| Amounts payable after more than one year17 | €26,667 | €29,993 | €22,565 | €6,222 | €1,916 | ▼ 69.2% |
| Financial debts170/4 | - | €29,993 | €22,565 | €6,222 | €1,916 | ▼ 69.2% |
| Amounts payable within one year42/48 | €162,626 | €213,853 | €348,938 | €397,990 | €385,916 | ▼ 3.0% |
| Current portion of amounts payable after more than one year42 | - | €16,395 | €20,344 | €16,343 | €4,306 | ▼ 73.7% |
| Financial debts43 | - | €12,042 | €5,332 | €5,333 | €13,333 | ▲ 150% |
| Credit institutions430/8 | - | €12,042 | €5,332 | €5,333 | €13,333 | ▲ 150% |
| Trade debts44 | €129,983 | €165,407 | €256,689 | €300,696 | €320,461 | ▲ 6.6% |
| Suppliers440/4 | - | €165,407 | €256,689 | €300,696 | €320,461 | ▲ 6.6% |
| Taxes, remuneration and social security45 | - | €6,876 | €22,203 | €25,085 | €28,891 | ▲ 15.2% |
| Taxes450/3 | - | €455 | €8,800 | €70 | €15,460 | ▲ 21,869% |
| Remuneration and social security454/9 | - | €6,421 | €13,403 | €25,014 | €13,432 | ▼ 46.3% |
| Other amounts payable47/48 | - | €13,133 | €44,369 | €50,533 | €18,925 | ▼ 62.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,340 | €66,344 | €107,941 | €20,778 | €231 | ▼ 98.9% |
| + Depreciation and write-downs630 | €29,143 | €29,451 | €35,159 | €29,372 | €24,920 | ▼ 15.2% |
| Operating cash flow (approximation) | €35,484 | €95,795 | €143,100 | €50,150 | €25,151 | ▼ 49.8% |
| Investment in fixed assets (approximation) | - | -€24,155 | -€54,923 | -€9,098 | -€124,500 | ▼ 1,268% |
| Change in cash | - | €59,993 | -€25,400 | €37,003 | €29,707 | ▼ 19.7% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 92 days late
2024
31-12
Financial
Weakest financial yearnet €231 ▼98.9%
Net result drops to €231, the lowest in the series.
11-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 72 days late
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2019net €107,941 ▲62.7%
Operating result €155,386, net result €107,941, both a record.
31-12
Financial
Equity above €150,000Eq €173,944 ▲30.9%
4 profitable years in a row build equity to €173,944.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100,000Eq €132,847 ▲99.8%
3 profitable years in a row build equity to €132,847.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · 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, Grimbergen · 1 establishment unit since 2018
Ground area
1,681 m²
Building footprint
180 m²
Volume, LiDAR
1,063 m³
Parcel 23403H0093/00X003, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SB PROJECTS
since 20182.277.218.322
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23403H0093/00X003 | Flanders | 1,680 m² | 1 · 180 m² | 9.2 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 6,930 EUR awarded · 6,930 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 6,930 EUR | 6,930 EUR |
Recognitions · licences · registrations
Recognised contractor
3 categoriesSB PROJECTS BV45036
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Of 663 companies in sector 16110 we hold annual accounts for 320. 209 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 (pre-2019)
Founded11-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
16110Sawmilling and planing of wood
43320Joinery installation
16230Manufacture of other builders' carpentry and joinery
16281Manufacture of other wood products
33120Repair and maintenance of machinery
43211General electrical installation work
43212Electrical installation work in industrial facilities
43222Installation of electric heating, air conditioning, cooling and ventilation
43331Floor and wall tiling
43332Laying of wooden floor and wall coverings
43333Wallpapering and laying of floor and wall coverings in other materials
43341Painting of buildings
43342Specialised construction activities
43343Specialised construction activities
43990Other specialised construction activities
46130Agents in the wholesale of timber and building materials
46831Wholesale of construction materials, general range
46832Wholesale of timber
46839Wholesale trade
47521Retail sale of hardware, building materials, paint and glass (general range)
64210Activities of holding companies
66300Activities auxiliary to financial services and insurance activities
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
70200Business and other management consultancy
82100Office administrative and support services
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0697777022
Also
9925:BE0697777022
Registered
24-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.