sim projects
ActiveSummary
The computed 12-month bankruptcy probability of sim projects is 3.2% (moderate). The 2024 annual accounts show equity of €320k and a net result of €118k. Equity is growing by ~59% per year across the filed fiscal years. Its solvency ranks better than 47% of 36375 sector peers (fiscal year 2024). The company has been active since 2017 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2024
Axes · tick = 2023
Profitability89▲+32
Solvency69▲+6
Growth80=
Track record92
Bankruptcy probability, 12 months
3.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days only on tighter terms
Liquidity ample (current ratio 1.72 against 1.52 in 2023; short-term debt: 55.8% and cash: 10.1% of total assets), but 55.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 27-11-2025, 119 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
119 d late
2023
92 d late
2022
92 d late
2021
60 d early
2020
236 d late
2019
1 d early
← before the deadline
after the deadline →
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Financials · fiscal year 2024, micro schema
Turnover
€628k▲ 17.6%
2019 · €534k
2018: €472klowest in 3 years
2019: €534k▲ +13.0% vs 2018
2020: €628k▲ +17.6% vs 2019highest in 3 years
2018 → 2020
EBIT margin
1.8%▼ 4.9pp
2019 · 6.7%
2018: 5.0%
2019: 6.7%▲ +32.1% vs 2018highest in 3 years
2020: 1.8%▼ -73.2% vs 2019lowest in 3 years
2018 → 2020
Net result
€118k▲ 505%
2023 · €20k
2018: €14k
2019: €15k▲ +8.6% vs 2018
2020: €7k▼ -54.5% vs 2019lowest in 7 years
2021: €29k▲ +331% vs 2020
2022: €112k▲ +286% vs 2021
2023: €20k▼ -82.5% vs 2022
2024: €118k▲ +505% vs 2023highest in 7 years
2018 → 2024
Working capital
€291k▲ 72.0%
2023 · €169k
2018: €-6klowest in 7 years
2019: €22k▲ +439% vs 2018
2020: €29k▲ +34.1% vs 2019
2021: €52k▲ +77.3% vs 2020
2022: €161k▲ +210% vs 2021
2023: €169k▲ +5.1% vs 2022
2024: €291k▲ +72.0% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€628k-
Equity€41k-€70k▲ 70.1%€182k▲ 159%€202k▲ 10.7%€320k▲ 58.6%
2020: €41klowest in 5 years
2021: €70k▲ +70.1% vs 2020
2022: €182k▲ +159% vs 2021
2023: €202k▲ +10.7% vs 2022
2024: €320k▲ +58.6% vs 2023highest in 5 years
Operating result€11k-€36k▲ 225%€181k▲ 398%€16k▼ 91.4%€154k▲ 892%
2020: €11klowest in 5 years
2021: €36k▲ +225% vs 2020
2022: €181k▲ +398% vs 2021highest in 5 years
2023: €16k▼ -91.4% vs 2022
2024: €154k▲ +892% vs 2023
Net result€7k-€29k▲ 331%€112k▲ 286%€20k▼ 82.5%€118k▲ 505%
2020: €7klowest in 5 years
2021: €29k▲ +331% vs 2020
2022: €112k▲ +286% vs 2021
2023: €20k▼ -82.5% vs 2022
2024: €118k▲ +505% vs 2023highest in 5 years
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 2024; 2024 is 892% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €724k
Fixed assets
€29k ▼ 14.0%
Current assets
€695k ▲ 40.1%
Equity and liabilities €724k
Equity
€320k ▲ 58.6%
Debt
€404k ▲ 23.1%
Debt's share of the balance-sheet total falls from 61.9% to 55.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€161k▲
2023 · €21k
Cash flow
€126k▲
2023 · €25k
Current ratio
1.72▲
2023 · 1.52
Quick ratio
1.70▲
2023 · 1.49
Debt to equity
1.26▼
2023 · 1.63
ROE
36.9%▲
2023 · 9.7%
ROA
16.3%▲
2023 · 3.7%
Interest coverage
38.44▲
2023 · 4.06
Debt ≤ 1 year
€404k▲
2023 · €327k
Income taxes
€56k▲
2023 · €5k
Staff costs
€52k▲
2023 · €34k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€530k€724k▲
Fixed assets21/28€34k€29k▼
Tangible fixed assets22/27€29k€24k▼
Plant, machinery and equipment23€21k€17k▼
Furniture and vehicles24€8k€7k▼
Financial fixed assets28€5k€6k▲
Current assets29/58€496k€695k▲
Stocks and contracts in progress3€8k€10k▲
Stocks30/36€8k€10k▲
Amounts receivable within one year40/41€467k€611k▲
Trade receivables40€94k€118k▲
Other amounts receivable41€372k€494k▲
Cash at bank and in hand54/58€19k€73k▲
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€530k€724k▲
Equity10/15€202k€320k▲
Contributions10/11€6k€6k=
Reserves13€196k€314k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€194k€312k▲
Amounts payable17/49€328k€404k▲
Amounts payable after more than one year17€1k-
Other amounts payable178/9€1k-
Amounts payable within one year42/48€327k€404k▲
Current portion of amounts payable after more than one year42€32k€25k▼
Trade debts44€204k€303k▲
Suppliers440/4€204k€303k▲
Advances received on contracts in progress46€20k-
Taxes, remuneration and social security45€71k€76k▲
Taxes450/3€64k€72k▲
Remuneration and social security454/9€8k€4k▼
Income statement
Code20232024
Non-recurring operating income76A€9k-
Remuneration, social security and pensions62€34k€52k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€7k▲
Other operating charges640/8€7k€2k▼
Non-recurring operating charges66A€6k€20k▲
Gross operating margin9900€68k€235k▲
Operating profit (loss)9901€16k€154k▲
Financial income75/76B€15k€25k▲
Recurring financial income75€15k€25k▲
Financial charges65/66B€5k€4k▼
Recurring financial charges65€5k€4k▼
Profit (loss) for the period before taxes9903€25k€174k▲
Income taxes67/77€5k€56k▲
Profit (loss) for the period9904€20k€118k▲
Profit (loss) for the period to be appropriated9905€20k€118k▲
Appropriation of the result
Profit (loss) to be appropriated9906€20k€118k▲
Transfer to equity691/2€20k€118k▲
To other reserves6921€20k€118k▲
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €628k | - | - | - | - | - |
| Non-recurring operating income76A | - | €1k | €533 | €9k | - | - |
| Remuneration, social security and pensions62 | - | €44k | €57k | €34k | €52k | ▲ 51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €6k | €4k | €5k | €7k | ▲ 34.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €3k | - | - | - | - |
| Other operating charges640/8 | - | €2k | €4k | €7k | €2k | ▼ 68.8% |
| Non-recurring operating charges66A | - | €1k | €1k | €6k | €20k | ▲ 233% |
| Gross operating margin9900 | €74k | €93k | €248k | €68k | €235k | ▲ 247% |
| Operating profit (loss)9901 | €11k | €36k | €181k | €16k | €154k | ▲ 892% |
| Financial income75/76B | - | €6k | €11k | €15k | €25k | ▲ 69.1% |
| Recurring financial income75 | €6k | €6k | €11k | €15k | €25k | ▲ 69.1% |
| Financial charges65/66B | - | €4k | €15k | €5k | €4k | ▼ 18.6% |
| Recurring financial charges65 | €7k | €4k | €15k | €5k | €4k | ▼ 18.6% |
| Profit (loss) for the period before taxes9903 | €10k | €39k | €177k | €25k | €174k | ▲ 600% |
| Income taxes67/77 | €3k | €10k | €65k | €5k | €56k | ▲ 951% |
| Profit (loss) for the period9904 | €7k | €29k | €112k | €20k | €118k | ▲ 505% |
| Profit (loss) for the period to be appropriated9905 | €7k | €29k | €112k | €20k | €118k | ▲ 505% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €211k | €220k | €388k | €530k | €724k | ▲ 36.6% |
| Fixed assets21/28 | €32k | €31k | €27k | €34k | €29k | ▼ 14.0% |
| Tangible fixed assets22/27 | €32k | €26k | €21k | €29k | €24k | ▼ 17.3% |
| Plant, machinery and equipment23 | - | €26k | €21k | €21k | €17k | ▼ 17.5% |
| Furniture and vehicles24 | - | - | - | €8k | €7k | ▼ 16.7% |
| Financial fixed assets28 | - | €5k | €5k | €5k | €6k | ▲ 3.7% |
| Current assets29/58 | €180k | €189k | €361k | €496k | €695k | ▲ 40.1% |
| Stocks and contracts in progress3 | €4k | €10k | €9k | €8k | €10k | ▲ 13.4% |
| Stocks30/36 | - | €10k | €9k | €8k | €10k | ▲ 13.4% |
| Amounts receivable within one year40/41 | €126k | €125k | €246k | €467k | €611k | ▲ 31.0% |
| Trade receivables40 | - | - | - | €94k | €118k | ▲ 24.7% |
| Other amounts receivable41 | - | €125k | €246k | €372k | €494k | ▲ 32.6% |
| Cash at bank and in hand54/58 | €47k | €53k | €101k | €19k | €73k | ▲ 277% |
| Deferred charges and accrued income490/1 | - | €3k | €5k | €2k | €2k | ▼ 11.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €211k | €220k | €388k | €530k | €724k | ▲ 36.6% |
| Equity10/15 | €41k | €70k | €182k | €202k | €320k | ▲ 58.6% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €35k | €64k | €176k | €196k | €314k | ▲ 60.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €62k | €174k | €194k | €312k | ▲ 61.0% |
| Amounts payable17/49 | €170k | €150k | €206k | €328k | €404k | ▲ 23.1% |
| Amounts payable after more than one year17 | €19k | €13k | €5k | €1k | - | - |
| Financial debts170/4 | - | €13k | €5k | - | - | - |
| Other amounts payable178/9 | - | - | - | €1k | - | - |
| Amounts payable within one year42/48 | €150k | €138k | €200k | €327k | €404k | ▲ 23.6% |
| Current portion of amounts payable after more than one year42 | - | €8k | €8k | €32k | €25k | ▼ 20.7% |
| Trade debts44 | €132k | €113k | €112k | €204k | €303k | ▲ 48.3% |
| Suppliers440/4 | - | €113k | €112k | €204k | €303k | ▲ 48.3% |
| Advances received on contracts in progress46 | - | - | - | €20k | - | - |
| Taxes, remuneration and social security45 | - | €16k | €80k | €71k | €76k | ▲ 6.9% |
| Taxes450/3 | - | €13k | €75k | €64k | €72k | ▲ 13.4% |
| Remuneration and social security454/9 | - | €4k | €5k | €8k | €4k | ▼ 47.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €29k | €112k | €20k | €118k | ▲ 505% |
| + Depreciation and write-downs630 | €9k | €6k | €4k | €5k | €7k | ▲ 34.5% |
| Operating cash flow (approximation) | €16k | €35k | €116k | €25k | €126k | ▲ 403% |
| Investment in fixed assets (approximation) | - | €-5k | €0 | €-13k | €-3k | ▲ 79.9% |
| Change in cash | - | €5k | €49k | €-82k | €53k | ▲ 165% |
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
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 119 days late
08-08
KBO administration
Address struck
2024
31-12
Financial
Highest result since 2018net €118k ▲505%
Net result €118k, the highest in the series.
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 92 days late
2023
31-12
Financial
Equity above €200kEq €202k ▲10.7%
6 profitable years in a row build equity to €202k.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
31-12
Financial
Equity above €150kEq €182k ▲159%
5 profitable years in a row build equity to €182k.
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
24-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 236 days late
2020
31-12
Financial
Weakest financial yearnet €7k ▼54.5%
Net result drops to €7k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
31-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 244 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Heusden-Zolder · 1 establishment unit since 2017
Ground area
1.1 ha
Building footprint
5,161 m²
Volume, LiDAR
49,817 m³
Parcel 71065A0205/00A012, Flanders · tallest building 12.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SIM PROJECTS
since 20172.270.730.309
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71065A0205/00A012 | Flanders | 1.1 ha | 1 · 5,161 m² | 12.3 m · 3 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.
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 5,287 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)
Founded05-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.