SP Projects
ActiveSummary
SP Projects has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61,237 and a net result of €44,973. The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
- Equity
- €61,237
- Profit
- €44,973
Why 85raises riskFounded in 2024lowers riskLiquidity: current ratio 1.78, cash €24,393Size: total assets €109,037Equity €61,237 (56.2% of total assets)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 48% on solvency, 64% on liquidity, 90% on profitability and 97% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 154 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- IncorporationAppointment: PORTUGAELS Steve (director) ·…
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result rises in 2025; 2025 is 178% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.9% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 39,278 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,519 | €10,975 | ▲ 212% |
| Other operating charges640/8 | €25 | €289 | ▲ 12× |
| Gross operating margin9900 | €24,254 | €68,778 | ▲ 184% |
| Operating profit (loss)9901 | €20,710 | €57,514 | ▲ 178% |
| Financial income75/76B | €84 | €536 | ▲ 537% |
| Recurring financial income75 | €84 | €536 | ▲ 537% |
| Financial charges65/66B | €683 | €1,395 | ▲ 104% |
| Recurring financial charges65 | €683 | €1,395 | ▲ 104% |
| Profit (loss) for the period before taxes9903 | €20,111 | €56,656 | ▲ 182% |
| Income taxes67/77 | €4,347 | €11,682 | ▲ 169% |
| Profit (loss) for the period9904 | €15,764 | €44,973 | ▲ 185% |
| Profit (loss) for the period to be appropriated9905 | €15,764 | €44,973 | ▲ 185% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €67,666 | €109,037 | ▲ 61.1% |
| Fixed assets21/28 | €46,571 | €59,121 | ▲ 26.9% |
| Tangible fixed assets22/27 | €46,571 | €59,121 | ▲ 26.9% |
| Furniture and vehicles24 | €44,974 | €42,757 | ▼ 4.9% |
| Other tangible fixed assets26 | €1,597 | €16,364 | ▲ 924% |
| Current assets29/58 | €21,095 | €49,916 | ▲ 137% |
| Amounts receivable within one year40/41 | €20,129 | €24,481 | ▲ 21.6% |
| Trade receivables40 | €10,000 | €13,000 | ▲ 30.0% |
| Other amounts receivable41 | €10,129 | €11,481 | ▲ 13.3% |
| Cash at bank and in hand54/58 | €5 | €24,393 | ▲ 5,114× |
| Deferred charges and accrued income490/1 | €961 | €1,043 | ▲ 8.5% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €67,666 | €109,037 | ▲ 61.1% |
| Equity10/15 | €16,264 | €61,237 | ▲ 277% |
| Contributions10/11 | €500 | €500 | = |
| Profit (loss) carried forward14 | €15,764 | €60,737 | ▲ 285% |
| Amounts payable17/49 | €51,402 | €47,800 | ▼ 7.0% |
| Amounts payable after more than one year17 | €32,573 | €19,412 | ▼ 40.4% |
| Financial debts170/4 | €32,573 | €19,412 | ▼ 40.4% |
| Amounts payable within one year42/48 | €18,050 | €27,988 | ▲ 55.1% |
| Current portion of amounts payable after more than one year42 | €5,607 | €7,754 | ▲ 38.3% |
| Trade debts44 | €5,756 | €4,205 | ▼ 26.9% |
| Suppliers440/4 | €5,756 | €4,205 | ▼ 26.9% |
| Taxes, remuneration and social security45 | €6,686 | €16,029 | ▲ 140% |
| Taxes450/3 | €4,347 | €16,029 | ▲ 269% |
| Remuneration and social security454/9 | €2,339 | - | - |
| Accrued charges and deferred income492/3 | €780 | €400 | ▼ 48.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €15,764 | €44,973 | ▲ 185% |
| + Depreciation and write-downs630 | €3,519 | €10,975 | ▲ 212% |
| Operating cash flow (approximation) | €19,283 | €55,948 | ▲ 190% |
| Investment in fixed assets (approximation) | - | -€23,524 | - |
| Change in cash | - | €24,388 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 23-02-2026 | 2026-00041736 |
| 31-12-2024 | micro format | 03-03-2025 | 2025-00042835 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Steve PORTUGAELS |
|
Owners and capital
Capital and shareholders
- PORTUGAELS Steve 100 shares (100%) · €500
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 18-03-2024 Incorporation · €500 · 100 shares
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
Board mandates elsewhere
2 board mandatesHistory
Acts, filings and financial milestones
18-03
Gazette deed
IncorporationAppointment: PORTUGAELS Steve (director) · Founder · Founding capital10 facts ▸
- Incorporation, 11-03-2024
- Founder, PORTUGAELS Steve
- Other provision, “financieel plan overhandigd, voorafgaandelijk aan verlijden oprichtingsakte” (deed in Dutch)
- Founding capital, €500
- Bank account, “bijzondere rekening namens vennootschap in oprichting, BE---------------------------------” (deed in Dutch)
- Capital
- Registered office clause, “2830 Willebroek (Tisselt),Aaklaan 5” (deed in Dutch)
- Board rule, 1
- Director appointment, PORTUGAELS Steve (director)
- Pre-incorporation commitments, SP Projects
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 12036A0353/00L000 | Flanders | 579 m² | 1 · 113 m² | 6.7 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Zakelijke dienstverlening; Managementactiviteiten van holdings; Verlenen van adviezen en hulp aan het bedrijfsleven; Activiteiten van…” (deed in Dutch)
11 activities (deed in Dutch)
- Zakelijke dienstverlening;
- Managementactiviteiten van holdings;
- Verlenen van adviezen en hulp aan het bedrijfsleven;
- Activiteiten van hoofdkantoren;
- Verhuur en lease van machines en installaties voor de bouwnijverheid en de weg- en waterbouw;
- Handel in eigen onroerend goed die rechtstreeks of onrechtstreeks in verband staan met het voorwerp;
- Beleggen van eigen gelden;
- Functie van zaakvoerder,bestuurder of vereffenaar uitoefenen in andere vennootschappen;
- Borgstellen voor de bestuurder(s) en/of aandeelhouder(s);
- Het verwerven en aanhouden van participaties in andere vennootschappen waarvan het voorwerp hetzelfde is als in deze akte.
- Het beheer uitoefenen over alle roerende en onroerende goederen die haar toebehoren,alsook alle bewerkingen doen van roerende en onroerende aard,waaronder het verwerven en uitbouwen van een onroerend vermogen,het aangaan van financieringen,evenals de goederen bezwaren met hypotheken en zakelijke rechten.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SP Projects
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, bijkantoren en centra van werkzaamheden waar dan ook in België en buitenland” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, Artikel 11 Bestuursorgaan” (deed in Dutch)“Artikel 12 Bevoegdheden van het bestuursorgaan, geheel bevoegdheden behalve wet of statuten aan algemene vergadering voorbehouden met…” (deed in Dutch)“Artikel 14 Vergoeding van de bestuurders, algemene kosten los van representatie- reis- en verplaatsingskosten” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam, overdrachten en overgangen slechts uitwerking vanaf inschrijving register” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Procedure- en expertisekosten helft overdrager helft koper(s) naar evenredigheid aantal bij meerdere kopers, elke overdracht onder levenden…” (deed in Dutch)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of February at 17:00
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, algemene vergadering” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Om welke reden en op welk ogenblik ook, algemene vergadering één of meerdere vereffenaars aanduiden bevoegdheden omlijnen vergoeding bepalen” (deed in Dutch)