SCHEEN PROJECT
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-01-2026 PDF all 8 filings
Every figure per financial year
The operating result for 2025 is 4.1 times that of 2024. It is a recovery after the fall in 2024.
- 2021 Net result +79% on 2020. The accounts now follow the full format, last year the micro format.
The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Financial fixed assets | - | €26,944 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.002m | €0.002m | ▲ 21.1% |
| Gross operating margin9900 | €0.3m | €0.2m | €0.3m | €0.3m | €1.1m | €0.09m | €0.3m | ▲ 304% |
| Operating profit (loss)9901 | €0.3m | €0.2m | €0.3m | €0.3m | €1.1m | €0.08m | €0.3m | ▲ 310% |
| Financial income75/76B | - | - | - | - | €0.001m | €0.01m | €4.1m | ▲ 413× |
| Recurring financial income75 | - | - | - | - | €0.001m | €0.01m | €0.02m | ▲ 62.5% |
| Non-recurring financial income76B | - | - | - | - | - | - | €4.1m | - |
| Financial charges65/66B | - | - | - | €0.003m | €0.002m | €0.002m | €390 | ▼ 78.7% |
| Recurring financial charges65 | €0.003m | €0.004m | -€0.001m | €0.003m | €0.002m | €0.002m | €390 | ▼ 78.7% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.2m | €0.3m | €0.3m | €1.1m | €0.09m | €4.5m | ▲ 48× |
| Income taxes67/77 | €0.08m | €0.07m | €0.1m | €0.1m | €0.3m | €0.02m | €0.09m | ▲ 277% |
| Profit (loss) for the period9904 | €0.2m | €0.1m | €0.2m | €0.2m | €0.7m | €0.07m | €4.4m | ▲ 64× |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.1m | €0.2m | €0.2m | €0.7m | €0.07m | €4.4m | ▲ 64× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.1m | €1.6m | €1.5m | €1.5m | €2.2m | €2.2m | €5.9m | ▲ 170% |
| Fixed assets21/28 | €0.002m | €0.05m | €0.05m | €0.05m | €0.08m | €0.08m | €0.03m | ▼ 62.1% |
| Financial fixed assets28 | €0.002m | €0.05m | €0.05m | €0.05m | €0.08m | €0.08m | €0.03m | ▼ 62.1% |
| Current assets29/58 | €1.1m | €1.5m | €1.5m | €1.4m | €2.2m | €2.1m | €5.9m | ▲ 178% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.002m | - | - | - |
| Trade receivables290 | - | - | - | - | €0.002m | - | - | - |
| Stocks and contracts in progress3 | €0.8m | €1.2m | €0.8m | €0.8m | €0.2m | €0.2m | €0.08m | ▼ 51.3% |
| Stocks30/36 | - | - | - | €0.8m | €0.2m | €0.2m | €0.08m | ▼ 51.3% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.6m | €0.6m | €1.2m | €1.6m | €5.8m | ▲ 256% |
| Other amounts receivable41 | - | - | - | €0.6m | €1.2m | €1.6m | €5.8m | ▲ 256% |
| Current investments50/53 | - | - | - | - | €0.7m | €0.3m | - | - |
| Cash at bank and in hand54/58 | €0.1m | €0.06m | €0.06m | €0.01m | €0.07m | €0.06m | €0.004m | ▼ 92.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.1m | €1.6m | €1.5m | €1.5m | €2.2m | €2.2m | €5.9m | ▲ 170% |
| Equity10/15 | €0.2m | €0.3m | €0.5m | €0.7m | €1.5m | €1.6m | €1.5m | ▼ 4.4% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.2m | €0.3m | €0.5m | €0.7m | €1.5m | €1.5m | €1.5m | ▼ 4.5% |
| Distributable reserves133 | - | - | - | €0.7m | €1.5m | €1.5m | €1.5m | ▼ 4.5% |
| Amounts payable17/49 | €1.0m | €1.3m | €1.0m | €0.7m | €0.8m | €0.6m | €4.4m | ▲ 586% |
| Amounts payable after more than one year17 | €0.7m | €1.1m | €0.7m | €0.5m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.5m | - | - | - | - |
| Amounts payable within one year42/48 | €0.09m | €0.07m | €0.1m | €0.2m | €0.7m | €0.6m | €4.4m | ▲ 669% |
| Trade debts44 | €0.01m | - | - | - | €0.002m | €0.002m | - | - |
| Suppliers440/4 | - | - | - | - | €0.002m | €0.002m | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €0.09m | €0.006m | - | - |
| Taxes450/3 | - | - | - | - | €0.09m | €0.006m | - | - |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.6m | €0.6m | €4.4m | ▲ 680% |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €0.09m | €0.07m | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.1m | €0.2m | €0.2m | €0.7m | €0.07m | €4.4m | ▲ 64× |
| Operating cash flow (approximation) | €0.2m | €0.1m | €0.2m | €0.2m | €0.7m | €0.07m | €4.4m | ▲ 64× |
| Investment in fixed assets (approximation) | - | -€0.05m | €0 | €0 | -€0.03m | €0 | €0.05m | - |
| Change in cash | - | -€0.08m | €116 | -€0.05m | €0.05m | -€0.01m | -€0.05m | ▼ 420% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,609 companies had the same profile as SCHEEN PROJECT has now. Two years later, 96.8% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of SCHEEN PROJECT itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,609 companies, not a prediction for SCHEEN PROJECT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 30-01-2026 | 2026-00032825 | |
| 30-06-2024 | full format | 28-02-2025 | 2025-00044003 | |
| 30-06-2023 | full format | 30-01-2024 | 2024-00019387 | |
| 30-06-2022 | full format | 20-01-2023 | 2023-00002901 | |
| 30-06-2021 | full format | 04-02-2022 | 2022-04900222 | |
| 30-06-2020 | micro format | 01-02-2021 | 2021-03800461 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-04000031 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03400502 |