TOP PROJECTS IMMO
ActiveSummary
TOP PROJECTS IMMO has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60,037 and a net result of €96,186. Equity is growing by ~58.2% per year across the filed fiscal years. Its solvency ranks better than 40% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+26
Solvency46▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 1.05 in 2024; short-term debt: 68.8% and cash: 55.4% of total assets), and 79.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
20.8%
Return on assets
33.3%
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
18 d early
2022
3 d early
2021
25 d late
2020
27 d late
2019
91 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 17 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 29 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€60,037▲ 54.5%
2024 · €38,851
Total assets
€289,050▼ 2.6%
2024 · €296,720
Net result
€96,186▲ 658%
2024 · €12,697
Working capital
€25,317▲ 134%
2024 · €10,818
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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-€46,419€29,940€26,167▼ 12.6%€15,281▼ 41.6%€100,311▲ 556%
Net result-€47,892below the sector's middle half€28,843within the sector's middle half€25,954within the sector's middle half▼ 10.0%€12,697within the sector's middle half▼ 51.1%€96,186above the sector's middle half▲ 658%
Equity-€28,643below the sector's middle half€200below the sector's middle half€26,154below the sector's middle half▲ 12,959%€38,851below the sector's middle half▲ 48.5%€60,037within the sector's middle half▲ 54.5%
Total assets€86,425below the sector's middle half▲ 195%€145,905below the sector's middle half▲ 68.8%€212,837below the sector's middle half▲ 45.9%€296,720below the sector's middle half▲ 39.4%€289,050below the sector's middle half▼ 2.6%
Debt€115,068▲ 1,044%€145,704▲ 26.6%€186,683▲ 28.1%€257,869▲ 38.1%€229,013▼ 11.2%
Working capital-€95,967within the sector's middle half-€56,743within the sector's middle half▲ 40.9%-€29,690within the sector's middle half▲ 47.7%€10,818within the sector's middle half€25,317within the sector's middle half▲ 134%
Solvency-33.1%below the sector's middle half▼ 98.8pp0.1%below the sector's middle half▲ 33.3pp12.3%within the sector's middle half▲ 12.2pp13.1%within the sector's middle half▲ 0.8pp20.8%within the sector's middle half▲ 7.7pp
Current ratio0.17below the sector's middle half▼ 2.760.61within the sector's middle half▲ 0.440.84within the sector's middle half▲ 0.231.05within the sector's middle half▲ 0.211.13within the sector's middle half▲ 0.08
Return on assets (ROA)-55.4%below the sector's middle half▼ 397.5pp19.8%above the sector's middle half▲ 75.2pp12.2%above the sector's middle half▼ 7.6pp4.3%within the sector's middle half▼ 7.9pp33.3%above the sector's middle half▲ 29.0pp
Staff (FTE)0.1below the sector's middle half0.4within the sector's middle half▲ 300%0.8within the sector's middle half▲ 100%0.8within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 556% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €289,050
Fixed assets
€64,904 ▲ 3.5%
Current assets
€224,145 ▼ 4.2%
Equity and liabilities €289,050
Equity
€60,037 ▲ 54.5%
Debt
€229,013 ▼ 11.2%
Debt's share of the balance-sheet total falls from 86.9% to 79.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€110,924▲
2024 · €22,526
Cash flow
€106,800▲
2024 · €19,942
Debt to equity
3.81▼
2024 · 6.64
ROE
160.2%▲
2024 · 32.7%
Interest coverage
79.25▲
2024 · 13.28
Debt ≤ 1 year
€198,829▼
2024 · €223,181
Debt > 1 year
€30,176▼
2024 · €31,998
Income taxes
€2,929▲
2024 · €1,338
Staff costs
€32,316▲
2024 · €31,032
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,815 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,815 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | €2,589 | €15,318 | €31,032 | €32,316 | ▲ 4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30 | €10,919 | €8,394 | €7,245 | €10,614 | ▲ 46.5% |
| Other operating charges640/8 | €386 | €2,236 | €15,055 | €2,528 | €3,056 | ▲ 20.9% |
| Non-recurring operating charges66A | - | - | - | €30,079 | €0 | ▼ 100% |
| Gross operating margin9900 | -€46,003 | €45,683 | €64,934 | €86,165 | €146,297 | ▲ 69.8% |
| Operating profit (loss)9901 | -€46,419 | €29,940 | €26,167 | €15,281 | €100,311 | ▲ 556% |
| Financial income75/76B | €154 | €78 | €1,200 | €450 | €204 | ▼ 54.6% |
| Recurring financial income75 | €154 | €78 | €1,200 | €450 | €204 | ▼ 54.6% |
| Financial charges65/66B | €239 | €1,159 | €1,344 | €1,696 | €1,400 | ▼ 17.5% |
| Recurring financial charges65 | €239 | €1,159 | €1,344 | €1,696 | €1,400 | ▼ 17.5% |
| Profit (loss) for the period before taxes9903 | -€46,504 | €28,859 | €26,023 | €14,035 | €99,115 | ▲ 606% |
| Income taxes67/77 | €1,388 | €15 | €69 | €1,338 | €2,929 | ▲ 119% |
| Profit (loss) for the period9904 | -€47,892 | €28,843 | €25,954 | €12,697 | €96,186 | ▲ 658% |
| Transfer from tax-exempt reserves789 | €13,000 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€34,892 | €28,843 | €25,954 | €12,697 | €96,186 | ▲ 658% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €86,425 | €145,905 | €212,837 | €296,720 | €289,050 | ▼ 2.6% |
| Fixed assets21/28 | €67,397 | €57,947 | €58,271 | €62,720 | €64,904 | ▲ 3.5% |
| Intangible fixed assets21 | €13,987 | €9,321 | €10,244 | €7,901 | €5,559 | ▼ 29.7% |
| Tangible fixed assets22/27 | €53,410 | €48,626 | €48,027 | €54,819 | €59,346 | ▲ 8.3% |
| Plant, machinery and equipment23 | - | - | €7,201 | €5,526 | €6,692 | ▲ 21.1% |
| Furniture and vehicles24 | €8,265 | €7,182 | €4,562 | €3,992 | €3,421 | ▼ 14.3% |
| Other tangible fixed assets26 | €45,144 | €41,444 | €36,264 | €45,301 | €49,233 | ▲ 8.7% |
| Current assets29/58 | €19,028 | €87,958 | €154,566 | €234,000 | €224,145 | ▼ 4.2% |
| Amounts receivable within one year40/41 | €18,664 | €49,297 | €58,186 | €141,578 | €63,068 | ▼ 55.5% |
| Trade receivables40 | €1,000 | €41,342 | €50,124 | €137,280 | €47,242 | ▼ 65.6% |
| Other amounts receivable41 | €17,664 | €7,956 | €8,062 | €4,298 | €15,827 | ▲ 268% |
| Cash at bank and in hand54/58 | €62 | €38,102 | €95,564 | €91,593 | €160,255 | ▲ 75.0% |
| Deferred charges and accrued income490/1 | €302 | €558 | €816 | €829 | €822 | ▼ 0.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €86,425 | €145,905 | €212,837 | €296,720 | €289,050 | ▼ 2.6% |
| Equity10/15 | -€28,643 | €200 | €26,154 | €38,851 | €60,037 | ▲ 54.5% |
| Contributions10/11 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €1,900 | €1,900 | €7,154 | €19,851 | €41,037 | ▲ 107% |
| Non-distributable reserves130/1 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | €5,254 | €17,951 | €39,137 | ▲ 118% |
| Profit (loss) carried forward14 | -€49,543 | -€20,700 | €0 | - | €0 | - |
| Amounts payable17/49 | €115,068 | €145,704 | €186,683 | €257,869 | €229,013 | ▼ 11.2% |
| Amounts payable after more than one year17 | - | - | €1,464 | €31,998 | €30,176 | ▼ 5.7% |
| Financial debts170/4 | - | - | €1,464 | €31,998 | €30,176 | ▼ 5.7% |
| Amounts payable within one year42/48 | €114,994 | €144,701 | €184,256 | €223,181 | €198,829 | ▼ 10.9% |
| Current portion of amounts payable after more than one year42 | - | - | €3,523 | €3,594 | €1,822 | ▼ 49.3% |
| Financial debts43 | - | €376 | €0 | - | - | - |
| Credit institutions430/8 | - | €376 | €0 | - | - | - |
| Trade debts44 | €2,671 | €29,149 | €78,592 | €105,848 | €112,607 | ▲ 6.4% |
| Suppliers440/4 | €2,671 | €29,149 | €78,592 | €105,848 | €112,607 | ▲ 6.4% |
| Taxes, remuneration and social security45 | €1,388 | €3,614 | €4,267 | €15,935 | €7,743 | ▼ 51.4% |
| Taxes450/3 | €1,388 | €2,940 | €474 | €9,181 | €401 | ▼ 95.6% |
| Remuneration and social security454/9 | - | €674 | €3,794 | €6,754 | €7,341 | ▲ 8.7% |
| Other amounts payable47/48 | €110,936 | €111,562 | €97,874 | €97,804 | €76,657 | ▼ 21.6% |
| Accrued charges and deferred income492/3 | €73 | €1,004 | €962 | €2,690 | €8 | ▼ 99.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€47,892 | €28,843 | €25,954 | €12,697 | €96,186 | ▲ 658% |
| + Depreciation and write-downs630 | €30 | €10,919 | €8,394 | €7,245 | €10,614 | ▲ 46.5% |
| Operating cash flow (approximation) | -€47,862 | €39,762 | €34,348 | €19,942 | €106,800 | ▲ 436% |
| Investment in fixed assets (approximation) | - | -€1,469 | -€8,718 | -€11,694 | -€12,798 | ▼ 9.4% |
| Change in cash | - | €38,040 | €57,462 | -€3,971 | €68,662 | ▲ 1,829% |
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
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €28,843
Net result €28,843 after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
31-12
Financial
Weakest financial yearnet -€47,892
Net result drops to -€47,892, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
31-12
Financial
Back to profitnet €100,251
Net result €100,251 after 2 loss-making years.
31-12
Financial
Liquidity times 73current ratio 2.93
Current ratio from 0.04 to 2.93; short-term debt falls from €84,317 to €10,006.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 91 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
9 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, Nijlen · 1 establishment unit since 1998
Ground area
700 m²
Building footprint
162 m²
Volume, LiDAR
1,000 m³
Parcel 12026D0932/00A000, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TOP PROJECTS IMMO
since 19982.088.361.597
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12026D0932/00A000 | Flanders | 700 m² | 1 · 161 m² | 10.0 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.
Similar companies · same sector, comparable size
IMMO DE KLUIS
BE 0741.652.892
Vorselaar · Eq €60,032
LICO
BE 0448.515.825
Mechelen · Eq €60,058
FJORD REAL ESTATE DEVELOPMENT
BE 0755.460.249
Brugge · Eq €59,982
IMMOBILIERE DE GOLZINNE P. ET F.
BE 0459.278.766
Gembloux · Eq €60,096
ARGYVAL
BE 0471.163.048
Tervuren · Eq €60,096
Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 4,991 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
Founded14-04-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68110Buying and selling of own real estate
68322Real estate appraisal on a fee or contract basis
E-invoicing
Reachable via Peppol
Peppol ID
0208:0463164904
Also
9925:BE0463164904
Registered
05-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.