SO Projects
ActiveSummary
SO Projects has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61k and a net result of €4k. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 62% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-4
Solvency93▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 2.38 against 3.45 in 2024; short-term debt: 31.9% and cash: 55.6% of total assets), and 31.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
68.1%
Return on assets
4%
Age of the figures
9 mo
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
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 23-07-2026, 8 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
8 d early
2024
6 d early
2023
on the day
2022
4 d early
2021
11 d early
2020
16 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€61k▼ 39.4%
2024 · €100k
2019: €52k
2020: €56k▲ +7.1% vs 2019
2021: €48k▼ -13.5% vs 2020lowest in 7 years
2022: €67k▲ +38.9% vs 2021
2023: €90k▲ +34.3% vs 2022
2024: €100k▲ +11.2% vs 2023highest in 7 years
2025: €61k▼ -39.4% vs 2024
2019 → 2025
Total assets
€89k▼ 30.9%
2024 · €129k
2019: €111k
2020: €155k▲ +39.3% vs 2019highest in 7 years
2021: €105k▼ -32.5% vs 2020
2022: €119k▲ +14.3% vs 2021
2023: €114k▼ -4.6% vs 2022
2024: €129k▲ +13.1% vs 2023
2025: €89k▼ -30.9% vs 2024lowest in 7 years
2019 → 2025
Net result
€4k▼ 64.4%
2024 · €10k
2019: €46khighest in 7 years
2020: €4k▼ -91.9% vs 2019
2021: €-8k▼ -303% vs 2020lowest in 7 years
2022: €19k▲ +348% vs 2021
2023: €23k▲ +22.5% vs 2022
2024: €10k▼ -56.3% vs 2023
2025: €4k▼ -64.4% vs 2024
2019 → 2025
Working capital
€39k▼ 44.4%
2024 · €71k
2019: €31k
2020: €39k▲ +26.3% vs 2019
2021: €30k▼ -24.3% vs 2020lowest in 7 years
2022: €47k▲ +57.6% vs 2021
2023: €68k▲ +46.3% vs 2022
2024: €71k▲ +3.8% vs 2023highest in 7 years
2025: €39k▼ -44.4% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€48k-€67k▲ 38.9%€90k▲ 34.3%€100k▲ 11.2%€61k▼ 39.4%
2021: €48klowest in 5 years
2022: €67k▲ +38.9% vs 2021
2023: €90k▲ +34.3% vs 2022
2024: €100k▲ +11.2% vs 2023highest in 5 years
2025: €61k▼ -39.4% vs 2024
Operating result€-8k-€26k€31k▲ 21.1%€14k▼ 55.7%€6k▼ 58.1%
2021: €-8klowest in 5 years
2022: €26k▲ +424% vs 2021
2023: €31k▲ +21.1% vs 2022highest in 5 years
2024: €14k▼ -55.7% vs 2023
2025: €6k▼ -58.1% vs 2024
Net result€-8k-€19k€23k▲ 22.5%€10k▼ 56.3%€4k▼ 64.4%
2021: €-8klowest in 5 years
2022: €19k▲ +348% vs 2021
2023: €23k▲ +22.5% vs 2022highest in 5 years
2024: €10k▼ -56.3% vs 2023
2025: €4k▼ -64.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 58% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €89k
Fixed assets
€21k ▼ 27.2%
Current assets
€68k ▼ 32.0%
Equity and liabilities €89k
Equity
€61k ▼ 39.4%
Debt
€28k ▼ 1.5%
Debt's share of the balance-sheet total rises from 22.4% to 31.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€14k▼
2024 · €20k
Cash flow
€12k▼
2024 · €17k
Current ratio
2.38▼
2024 · 3.45
Debt to equity
0.47▲
2024 · 0.29
ROE
5.9%▼
2024 · 10.0%
ROA
4.0%▼
2024 · 7.8%
Interest coverage
124.24▲
2024 · 32.97
Debt ≤ 1 year
€28k▼
2024 · €29k
Income taxes
€2k▼
2024 · €3k
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 · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€129k€89k▼
Fixed assets21/28€29k€21k▼
Tangible fixed assets22/27€29k€21k▼
Furniture and vehicles24€6k€3k▼
Other tangible fixed assets26€23k€18k▼
Current assets29/58€100k€68k▼
Amounts receivable within one year40/41€22k€18k▼
Trade receivables40€14k€3k▼
Other amounts receivable41€8k€15k▲
Cash at bank and in hand54/58€67k€50k▼
Deferred charges and accrued income490/1€10k€0▼
Equity and liabilities
Total equity and liabilities10/49€129k€89k▼
Equity10/15€100k€61k▼
Contributions10/11€6k€6k=
Reserves13€93k€54k▼
Distributable reserves133€93k€54k▼
Profit (loss) carried forward14€518€547▲
Amounts payable17/49€29k€28k▼
Amounts payable within one year42/48€29k€28k▼
Trade debts44€310€1k▲
Suppliers440/4€310€1k▲
Taxes, remuneration and social security45€12k€13k▲
Taxes450/3€12k€13k▲
Other amounts payable47/48€17k€14k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€8k▲
Other operating charges640/8€878€544▼
Gross operating margin9900€21k€14k▼
Operating profit (loss)9901€14k€6k▼
Financial income75/76B€0€42▲
Recurring financial income75€0€42▲
Financial charges65/66B€617€111▼
Recurring financial charges65€617€111▼
Profit (loss) for the period before taxes9903€13k€6k▼
Income taxes67/77€3k€2k▼
Profit (loss) for the period9904€10k€4k▼
Profit (loss) for the period to be appropriated9905€10k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€11k€4k▼
Profit (loss) brought forward from the previous period14P€516€518▲
Transfer from equity791/2-€43k
Transfer to equity691/2€10k€4k▼
To other reserves6921€10k€4k▼
Profit to be distributed694/7-€43k
Return on contributions (dividend)694-€43k
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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €13k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €5k | €6k | €7k | €8k | ▲ 21.2% |
| Other operating charges640/8 | €925 | €883 | €816 | €878 | €544 | ▼ 38.0% |
| Gross operating margin9900 | €1k | €32k | €37k | €21k | €14k | ▼ 32.7% |
| Operating profit (loss)9901 | €-8k | €26k | €31k | €14k | €6k | ▼ 58.1% |
| Financial income75/76B | €644 | €168 | €0 | €0 | €42 | ▲ 8,414% |
| Recurring financial income75 | €644 | €168 | €0 | €0 | €42 | ▲ 8,414% |
| Financial charges65/66B | €166 | €321 | €63 | €617 | €111 | ▼ 82.1% |
| Recurring financial charges65 | €166 | €321 | €63 | €617 | €111 | ▼ 82.1% |
| Profit (loss) for the period before taxes9903 | €-7k | €26k | €31k | €13k | €6k | ▼ 56.7% |
| Income taxes67/77 | €110 | €7k | €8k | €3k | €2k | ▼ 31.9% |
| Profit (loss) for the period9904 | €-8k | €19k | €23k | €10k | €4k | ▼ 64.4% |
| Profit (loss) for the period to be appropriated9905 | €-8k | €19k | €23k | €10k | €4k | ▼ 64.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105k | €119k | €114k | €129k | €89k | ▼ 30.9% |
| Fixed assets21/28 | €26k | €20k | €24k | €29k | €21k | ▼ 27.2% |
| Tangible fixed assets22/27 | €26k | €20k | €24k | €29k | €21k | ▼ 27.2% |
| Furniture and vehicles24 | €11k | €6k | €9k | €6k | €3k | ▼ 46.3% |
| Other tangible fixed assets26 | €15k | €14k | €15k | €23k | €18k | ▼ 22.5% |
| Current assets29/58 | €78k | €99k | €90k | €100k | €68k | ▼ 32.0% |
| Stocks and contracts in progress3 | €6k | €0 | - | - | - | - |
| Stocks30/36 | €6k | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €37k | €45k | €24k | €22k | €18k | ▼ 18.5% |
| Trade receivables40 | €37k | €45k | €23k | €14k | €3k | ▼ 80.0% |
| Other amounts receivable41 | - | - | €976 | €8k | €15k | ▲ 91.6% |
| Cash at bank and in hand54/58 | €34k | €49k | €63k | €67k | €50k | ▼ 26.3% |
| Deferred charges and accrued income490/1 | €781 | €5k | €3k | €10k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105k | €119k | €114k | €129k | €89k | ▼ 30.9% |
| Equity10/15 | €48k | €67k | €90k | €100k | €61k | ▼ 39.4% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €49k | €61k | €83k | €93k | €54k | ▼ 42.3% |
| Non-distributable reserves130/1 | €2k | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €0 | - | - | - | - |
| Distributable reserves133 | €47k | €61k | €83k | €93k | €54k | ▼ 42.3% |
| Profit (loss) carried forward14 | €-6k | €285 | €516 | €518 | €547 | ▲ 5.6% |
| Amounts payable17/49 | €56k | €52k | €24k | €29k | €28k | ▼ 1.5% |
| Amounts payable after more than one year17 | €7k | €0 | - | - | - | - |
| Financial debts170/4 | €7k | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €49k | €52k | €22k | €29k | €28k | ▼ 1.5% |
| Current portion of amounts payable after more than one year42 | €4k | €0 | - | - | - | - |
| Trade debts44 | €16k | €32k | €2k | €310 | €1k | ▲ 316% |
| Suppliers440/4 | €16k | €32k | €2k | €310 | €1k | ▲ 316% |
| Taxes, remuneration and social security45 | €21k | €15k | €10k | €12k | €13k | ▲ 7.4% |
| Taxes450/3 | €17k | €12k | €10k | €12k | €13k | ▲ 7.4% |
| Remuneration and social security454/9 | €4k | €2k | €0 | - | - | - |
| Other amounts payable47/48 | €8k | €6k | €10k | €17k | €14k | ▼ 13.7% |
| Accrued charges and deferred income492/3 | - | - | €2k | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-8k | €19k | €23k | €10k | €4k | ▼ 64.4% |
| + Depreciation and write-downs630 | €8k | €5k | €6k | €7k | €8k | ▲ 21.2% |
| Operating cash flow (approximation) | €937 | €24k | €28k | €17k | €12k | ▼ 30.5% |
| Investment in fixed assets (approximation) | - | €286 | €-9k | €-12k | €0 | ▲ 100% |
| Change in cash | - | €15k | €14k | €4k | €-18k | ▼ 544% |
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
Next filing, fiscal year 2026, expected by
2026
23-07
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
Equity above €100kEq €100k ▲11.2%
3 profitable years in a row build equity to €100k.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 4.10
Current ratio from 1.89 to 4.10; short-term debt falls from €52k to €22k.
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-07
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 4 acts read
About the unread acts
We know of 4 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
4 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, Waasmunster · 1 establishment unit since 2018
Ground area
4,532 m²
Building footprint
270 m²
Volume, LiDAR
1,495 m³
2 parcels, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SO Projects
since 20182.278.871.280
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42023B2217/00A000 | Flanders | 3,808 m² | 1 · 270 m² | 7.1 m · 2 fl. |
| 42023B0953/00L000 | Flanders | 724 m² | - | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,057 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
Founded17-04-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
74130Interior design
82100Office administrative and support services
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.