TO BE PROJECTS
ActiveSummary
TO BE PROJECTS has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.8m and a net result of €1.1m. Equity is growing by ~58% per year across the filed fiscal years. Its solvency ranks better than 71% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability96▼-4
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €330,000 at 30 days acceptable
Liquidity short (current ratio 0.73 against 2.15 in 2024; short-term debt: 24.7% and cash: 8.9% of total assets), and 24.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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
75.3%
Return on assets
21.9%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
53 d late
2023
on the day
2022
31 d late
2021
75 d late
2020
26 d late
2019
10 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 27 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 31 August (4 of the last 5 filed years within 40 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#8 company by equity in Oud-Heverlee, Professional and technical services sector#10 company by total assets in Oud-Heverlee, Professional and technical services sector
Equity
€3.8m▲ 113%
2024 · €1.8m
Total assets
€5.1m▲ 114%
2024 · €2.4m
Net result
€1.1m▲ 32.5%
2024 · €835,928
Working capital
-€339,803
2024 · €663,692
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€111,964▲ 11.1%€277,896▲ 148%€673,390▲ 142%€1.2m▲ 84.5%€1.6m▲ 29.4%
Net result€74,441above the sector's middle half▲ 11.1%€185,935above the sector's middle half▲ 150%€448,490above the sector's middle half▲ 141%€835,928above the sector's middle half▲ 86.4%€1.1mabove the sector's middle half▲ 32.5%
Equity€318,325above the sector's middle half▲ 30.5%€504,261above the sector's middle half▲ 58.4%€952,751above the sector's middle half▲ 88.9%€1.8mabove the sector's middle half▲ 87.7%€3.8mabove the sector's middle half▲ 113%
Total assets€602,338above the sector's middle half▲ 13.5%€856,535above the sector's middle half▲ 42.2%€1.5mabove the sector's middle half▲ 71.9%€2.4mabove the sector's middle half▲ 60.5%€5.1mabove the sector's middle half▲ 114%
Debt€284,013▼ 0.9%€352,275▲ 24.0%€519,771▲ 47.5%€575,356▲ 10.7%€1.3m▲ 118%
Working capital€310,644above the sector's middle half▲ 28.2%€397,445above the sector's middle half▲ 27.9%€521,313above the sector's middle half▲ 31.2%€663,692above the sector's middle half▲ 27.3%-€339,803below the sector's middle half
Solvency52.8%within the sector's middle half▲ 6.9pp58.9%within the sector's middle half▲ 6.0pp64.7%within the sector's middle half▲ 5.8pp75.7%within the sector's middle half▲ 11.0pp75.3%within the sector's middle half▼ 0.4pp
Current ratio2.09within the sector's middle half▲ 0.252.13within the sector's middle half▲ 0.032.00within the sector's middle half▼ 0.132.15within the sector's middle half▲ 0.150.73below the sector's middle half▼ 1.43
Return on assets (ROA)12.4%within the sector's middle half▼ 0.3pp21.7%within the sector's middle half▲ 9.3pp30.5%above the sector's middle half▲ 8.7pp35.4%above the sector's middle half▲ 4.9pp21.9%within the sector's middle half▼ 13.5pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 29% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.1m
Fixed assets
€4.2m ▲ 269%
Current assets
€911,783 ▼ 26.4%
Equity and liabilities €5.1m
Equity
€3.8m ▲ 113%
Debt
€1.3m ▲ 118%
Debt's share of the balance-sheet total rises from 24.3% to 24.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.6m▲
2024 · €1.2m
Cash flow
€1.1m▲
2024 · €837,375
Debt to equity
0.33▲
2024 · 0.32
ROE
29.0%▼
2024 · 46.7%
Interest coverage
1844.38▲
2024 · 654.35
Debt ≤ 1 year
€1.3m▲
2024 · €575,356
Income taxes
€550,412▲
2024 · €404,666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,080 | €751 | €1,135 | €1,447 | €20,083 | ▲ 1,288% |
| Other operating charges640/8 | - | - | €884 | €4,728 | €1,148 | ▼ 75.7% |
| Gross operating margin9900 | €113,044 | €278,647 | €675,410 | €1.2m | €1.6m | ▲ 30.5% |
| Operating profit (loss)9901 | €111,964 | €277,896 | €673,390 | €1.2m | €1.6m | ▲ 29.4% |
| Financial income75/76B | - | €1,637 | €0 | - | €51,383 | - |
| Recurring financial income75 | - | €1,637 | €0 | - | €51,383 | - |
| Financial charges65/66B | €204 | €633 | €252 | €1,901 | €883 | ▼ 53.6% |
| Recurring financial charges65 | €204 | €633 | €252 | €1,901 | €883 | ▼ 53.6% |
| Profit (loss) for the period before taxes9903 | €111,760 | €278,900 | €673,138 | €1.2m | €1.7m | ▲ 33.7% |
| Income taxes67/77 | €37,319 | €92,965 | €224,648 | €404,666 | €550,412 | ▲ 36.0% |
| Profit (loss) for the period9904 | €74,441 | €185,935 | €448,490 | €835,928 | €1.1m | ▲ 32.5% |
| Profit (loss) for the period to be appropriated9905 | €74,441 | €185,935 | €448,490 | €835,928 | €1.1m | ▲ 32.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €602,338 | €856,535 | €1.5m | €2.4m | €5.1m | ▲ 114% |
| Fixed assets21/28 | €7,681 | €106,816 | €431,438 | €1.1m | €4.2m | ▲ 269% |
| Tangible fixed assets22/27 | €1,681 | €930 | €3,597 | €2,151 | €89,960 | ▲ 4,083% |
| Furniture and vehicles24 | €1,681 | €930 | €3,597 | €2,151 | €89,960 | ▲ 4,083% |
| Financial fixed assets28 | €6,000 | €105,886 | €427,841 | €1.1m | €4.1m | ▲ 262% |
| Current assets29/58 | €594,657 | €749,719 | €1.0m | €1.2m | €911,783 | ▼ 26.4% |
| Amounts receivable after more than one year29 | €209,000 | €209,000 | €209,000 | €210,000 | €210,000 | = |
| Other amounts receivable291 | €209,000 | €209,000 | €209,000 | €210,000 | €210,000 | = |
| Amounts receivable within one year40/41 | €34,532 | €21,112 | €267,028 | €37,824 | €31,035 | ▼ 17.9% |
| Trade receivables40 | €28,065 | €18,741 | €267,028 | €37,824 | €27,224 | ▼ 28.0% |
| Other amounts receivable41 | €6,467 | €2,370 | €0 | - | €3,811 | - |
| Current investments50/53 | - | - | €500,000 | €629,234 | €220,948 | ▼ 64.9% |
| Cash at bank and in hand54/58 | €351,125 | €519,608 | €65,056 | €361,989 | €449,800 | ▲ 24.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €602,338 | €856,535 | €1.5m | €2.4m | €5.1m | ▲ 114% |
| Equity10/15 | €318,325 | €504,261 | €952,751 | €1.8m | €3.8m | ▲ 113% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €940,015 | ▲ 4,600% |
| Reserves13 | €298,325 | €484,261 | €932,751 | €1.8m | €2.9m | ▲ 62.6% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Distributable reserves133 | €296,325 | €482,261 | €930,751 | €1.8m | €2.9m | ▲ 62.6% |
| Amounts payable17/49 | €284,013 | €352,275 | €519,771 | €575,356 | €1.3m | ▲ 118% |
| Amounts payable within one year42/48 | €284,013 | €352,275 | €519,771 | €575,356 | €1.3m | ▲ 118% |
| Trade debts44 | €2,132 | €268 | €296 | €761 | €18,099 | ▲ 2,278% |
| Suppliers440/4 | €2,132 | €268 | €296 | €761 | €18,099 | ▲ 2,278% |
| Taxes, remuneration and social security45 | €70,820 | €129,767 | €357,037 | €403,215 | €733,418 | ▲ 81.9% |
| Taxes450/3 | €70,820 | €129,767 | €357,037 | €403,215 | €733,418 | ▲ 81.9% |
| Other amounts payable47/48 | €211,062 | €222,240 | €162,438 | €171,380 | €500,069 | ▲ 192% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,441 | €185,935 | €448,490 | €835,928 | €1.1m | ▲ 32.5% |
| + Depreciation and write-downs630 | €1,080 | €751 | €1,135 | €1,447 | €20,083 | ▲ 1,288% |
| Operating cash flow (approximation) | €75,521 | €186,686 | €449,625 | €837,375 | €1.1m | ▲ 34.7% |
| Investment in fixed assets (approximation) | - | -€99,886 | -€325,757 | -€694,996 | -€3.1m | ▼ 339% |
| Change in cash | - | €168,483 | -€454,552 | €296,933 | €87,812 | ▼ 70.4% |
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
29-07
State Gazette act
General meeting · Statutes amendment
Share class · Transfer restriction
22-07
State Gazette act
Director reappointment · Director appointment
Board composition · Permanent representative
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
14-07
State Gazette act
General meeting · Auditor reappointment
Director reappointment · Permanent representative
2025
31-12
Financial
Highest result since 2018net €1.1m ▲32.5%
Operating result €1.6m, net result €1.1m, both a record.
31-12
Financial
Equity above €2mEq €3.8m ▲113%
6 profitable years in a row build equity to €3.8m.
22-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 53 days late
2024
31-12
Financial
Equity above €1mEq €1.8m ▲87.7%
5 profitable years in a row build equity to €1.8m.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Equity above €500,000Eq €504,261 ▲58.4%
3 profitable years in a row build equity to €504,261.
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
Show earlier events
2021
07-12
State Gazette act
General meeting · Name change
Registered-office move · Purpose change
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Back to profitnet €67,012
Net result €67,012 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €243,884 ▲37.9%
Equity rises from €176,872 to €243,884.
10-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 10 days late
2019
31-12
Financial
Weakest financial yearnet -€3,359
Net result drops to -€3,359, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2014
27-05
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Oud-Heverlee
Ground area
4,163 m²
Building footprint
359 m²
Volume, LiDAR
2,168 m³
Parcel 24034B0022/00Z003, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24034B0022/00Z003 | Flanders | 4,163 m² | 1 · 359 m² | 9.8 m · 2 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.
Structure & network
Connections & network
10 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
AMONIS
Shared director
→
BNP Paribas Fortis
Shared director
→
BNP PARIBAS FORTIS PRIVATE EQUITY BELGIUM
Shared director
→
BNP Paribas Fortis Private Equity Management
Shared director
→
Show 6 more companies with a shared director
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Interuniversitair Micro-Electronica Centrum
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NN INSURANCE BELGIUM
Shared director
→
WERELDHAVE BELGIUM
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Ownership & control
4 board mandatesBoard mandates of this companythis company sits on their board4
2 locations
1 location
1 location
1 location
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 13,543 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
Founded28-05-2010
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
73300Public relations and communication consultancy
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0826334783
Also
9925:BE0826334783
Registered
20-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.