SH-Projects
ActiveThe computed 12-month bankruptcy probability of SH-Projects is 2.0% (moderate). The 2025 annual accounts show equity of €76k and a net result of €17k. Equity is growing by ~29.3% per year across the filed fiscal years. Its solvency ranks better than 80% of 27450 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
70
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability89▲+14
Solvency100▲+14
Growth52=
Track record94
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 3.16 against 1.69 in 2024; short-term debt: 24.7% and cash: 1.7% of total assets), and 24.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
75.3%
Return on assets
16.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
21 d early
2024
6 d early
2023
40 d early
2022
28 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€76k▲ 28.3%
2024 · €59k
2022: €34k
2023: €54k
2024: €59k
2022 → 2025
Total assets
€101k▲ 3.3%
2024 · €98k
2022: €119k
2023: €121k
2024: €98k
2022 → 2025
Net result
€17k▲ 220%
2024 · €5k
2022: €30k
2023: €20k
2024: €5k
2022 → 2025
Working capital
€54k▲ 102%
2024 · €27k
2022: €3k
2023: €28k
2024: €27k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€34k-€54k▲ 57.7%€59k▲ 9.7%€76k▲ 28.3%
Operating result€33k-€26k▼ 22.2%€8k▼ 70.9%€20k▲ 165%
Net result€30k-€20k▼ 34.7%€5k▼ 73.5%€17k▲ 220%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 165% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €101k
Fixed assets
€22k▼ 31.8%
Current assets
€79k▲ 20.8%
Equity and liabilities €101k
Equity
€76k▲ 28.3%
Debt
€25k▼ 35.2%
The debt ratio falls from 39.4% to 24.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35k▲
2024 · €23k
Cash flow
€32k▲
2024 · €21k
Solvency
75.3%▲
2024 · 60.6%
Current ratio
3.16▲
2024 · 1.69
Quick ratio
2.69▲
2024 · 1.32
Debt / equity
0.33▼
2024 · 0.65
ROE
22.0%▲
2024 · 8.8%
ROA
16.6%▲
2024 · 5.4%
Interest coverage
203.43▲
2024 · 26.52
Debt
€25k▼
2024 · €39k
Debt ≤ 1 year
€25k▼
2024 · €39k
Income taxes
€4k▲
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€98k€101k▲
Fixed assets21/28€33k€22k▼
Tangible fixed assets22/27€33k€22k▼
Plant, machinery and equipment23€15k€12k▼
Furniture and vehicles24€18k€10k▼
Current assets29/58€65k€79k▲
Stocks and contracts in progress3€14k€12k▼
Stocks30/36€14k€12k▼
Amounts receivable within one year40/41€40k€66k▲
Trade receivables40€17k€26k▲
Other amounts receivable41€23k€39k▲
Cash at bank and in hand54/58€11k€2k▼
Equity and liabilities
Total equity and liabilities10/49€98k€101k▲
Equity10/15€59k€76k▲
Contributions10/11€4k€4k=
Reserves13€55k€72k▲
Distributable reserves133€55k€72k▲
Amounts payable17/49€39k€25k▼
Amounts payable after more than one year17€0-
Other amounts payable178/9€0-
Amounts payable within one year42/48€39k€25k▼
Trade debts44€28k€15k▼
Suppliers440/4€28k€15k▼
Taxes, remuneration and social security45€10k€10k▼
Taxes450/3€10k€10k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€758€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€15k▼
Other operating charges640/8€867€2k▲
Gross operating margin9900€24k€37k▲
Operating profit (loss)9901€8k€20k▲
Financial income75/76B€368€1k▲
Recurring financial income75€368€1k▲
Financial charges65/66B€862€172▼
Recurring financial charges65€862€172▼
Profit (loss) for the period before taxes9903€7k€21k▲
Income taxes67/77€2k€4k▲
Profit (loss) for the period9904€5k€17k▲
Profit (loss) for the period to be appropriated9905€5k€17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€5k€17k▲
Transfer to equity691/2€5k€17k▲
To other reserves6921€5k€17k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €5k ▼73.5%
Net result drops to €5k, the lowest in the series; recovery starts the following year.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are 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, Rijkevorsel · 1 establishment unit since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Mispelweg 22310 RijkevorselGround area
523 m²
Building footprint
147 m²
Volume, LiDAR
16 m³
Parcel 13037H0689/00R002, Flanders · tallest building 0.6 m. Linked by address, not a title deed.
1 establishment unit
SH-Projects
since 20212.322.335.101
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13037H0689/00R002 | Flanders | 523 m² | 1 · 147 m² | 0.6 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
2023 to 2024 · 2 entries · 1,598 EUR awarded · 1,598 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 780 EUR | 780 EUR |
| 2023 | 1 | 818 EUR | 818 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
JORIS DE RYCK
BE 0835.241.264
Londerzeel · Eq €76k
THEETEN et FILS
BE 0445.231.582
Ukkel · Eq €76k
Bogaert Michiel
BE 0896.939.402
Riemst · Eq €76k
Sam Opdebeeck
BE 0681.686.504
Heist-op-den-Berg · Eq €76k
SVW Service
BE 0804.976.868
Aarschot · Eq €76k
Of 7,036 companies in sector 43221 we hold annual accounts for 3,468. 3,048 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-10-2021
Fiscal year end31-12
Activities, NACEBEL
43221Plumbing work
43211General electrical installation work
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.