TOPPROJECTS
ActiveSummary
The computed 12-month bankruptcy probability of TOPPROJECTS is 2.0% (moderate). The 2024 annual accounts show negative equity (-€297,325) and a net result of -€47,147. Equity is shrinking by ~31.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 9975 sector peers (fiscal year 2024). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-5
Solvency0=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.43 against 0.51 in 2023; short-term debt: 199.1% and cash: 1.6% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-121.3%
Return on assets
-19.2%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€297,325
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 08-01-2026, 161 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
161 d late
2023
526 d late
2022
25 d late
2021
23 d late
2020
142 d late
2019
146 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 171 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€297,325▼ 18.8%
2023 · -€250,178
Total assets
€245,029▼ 16.8%
2023 · €294,539
Net result
-€47,147▼ 43.1%
2023 · -€32,939
Working capital
-€279,243▼ 17.2%
2023 · -€238,269
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line20202021202220232024
Operating result€41,415-€88,168-€64,685▲ 26.6%-€12,175▲ 81.2%-€23,516▼ 93.1%
Net result€33,399above the sector's middle half-€95,825below the sector's middle half-€71,517below the sector's middle half▲ 25.4%-€32,939below the sector's middle half▲ 53.9%-€47,147below the sector's middle half▼ 43.1%
Equity-€49,898below the sector's middle half▲ 40.1%-€145,722below the sector's middle half▼ 192%-€217,239below the sector's middle half▼ 49.1%-€250,178below the sector's middle half▼ 15.2%-€297,325below the sector's middle half▼ 18.8%
Total assets€517,090above the sector's middle half▲ 31.7%€407,950above the sector's middle half▼ 21.1%€315,839above the sector's middle half▼ 22.6%€294,539above the sector's middle half▼ 6.7%€245,029within the sector's middle half▼ 16.8%
Debt€566,988▲ 19.1%€553,672▼ 2.3%€533,078▼ 3.7%€544,717▲ 2.2%€542,355▼ 0.4%
Working capital-€3,140below the sector's middle half▲ 91.0%-€121,875below the sector's middle half▼ 3,781%-€187,444below the sector's middle half▼ 53.8%-€238,269below the sector's middle half▼ 27.1%-€279,243below the sector's middle half▼ 17.2%
Solvency-9.6%below the sector's middle half▲ 11.6pp-35.7%below the sector's middle half▼ 26.1pp-68.8%below the sector's middle half▼ 33.1pp-84.9%below the sector's middle half▼ 16.2pp-121.3%below the sector's middle half▼ 36.4pp
Current ratio0.99below the sector's middle half▲ 0.080.76below the sector's middle half▼ 0.240.61below the sector's middle half▼ 0.150.51below the sector's middle half▼ 0.100.43below the sector's middle half▼ 0.09
Return on assets (ROA)6.5%within the sector's middle half▲ 22.3pp-23.5%below the sector's middle half▼ 29.9pp-22.6%below the sector's middle half▲ 0.8pp-11.2%below the sector's middle half▲ 11.5pp-19.2%below the sector's middle half▼ 8.1pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 stays negative: a loss of €23,516 in 2024 against €12,175 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €245,029
Fixed assets
€36,453 ▼ 13.3%
Current assets
€208,577 ▼ 17.4%
Key figures and ratios
EBITDA
-€17,933▼
2023 · -€6,591
Cash flow
-€41,564▼
2023 · -€27,354
Quick ratio
0.25▼
2023 · 0.33
Debt to equity
-1.82▲
2023 · -2.18
Interest coverage
-0.77▼
2023 · -0.32
Debt ≤ 1 year
€487,820▼
2023 · €490,773
Debt > 1 year
€50,000=
2023 · €50,000
Income taxes
€343▲
2023 · €331
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,038 companies that looked in July 2024 the way this one looks now, 7.3% went bankrupt within 24 months and 82% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.3%
went bankrupt
8.2%
stopped otherwise
82%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% 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 6,038 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €940 | €1,453 | €5,576 | €5,585 | €5,583 | = |
| Other operating charges640/8 | - | €1,873 | €609 | €1,449 | €4,352 | ▲ 200% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €44,042 | -€84,843 | -€58,499 | -€5,142 | -€13,580 | ▼ 164% |
| Operating profit (loss)9901 | €41,415 | -€88,168 | -€64,685 | -€12,175 | -€23,516 | ▼ 93.1% |
| Financial income75/76B | - | €8 | €0 | - | €23 | - |
| Recurring financial income75 | €0 | €8 | €0 | - | €23 | - |
| Financial charges65/66B | - | €7,665 | €6,832 | €20,433 | €23,311 | ▲ 14.1% |
| Recurring financial charges65 | €8,016 | €7,665 | €6,832 | €20,433 | €23,311 | ▲ 14.1% |
| Profit (loss) for the period before taxes9903 | €33,399 | -€95,825 | -€71,517 | -€32,608 | -€46,805 | ▼ 43.5% |
| Income taxes67/77 | - | - | - | €331 | €343 | ▲ 3.7% |
| Profit (loss) for the period9904 | €33,399 | -€95,825 | -€71,517 | -€32,939 | -€47,147 | ▼ 43.1% |
| Profit (loss) for the period to be appropriated9905 | €33,399 | -€95,825 | -€71,517 | -€32,939 | -€47,147 | ▼ 43.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €517,090 | €407,950 | €315,839 | €294,539 | €245,029 | ▼ 16.8% |
| Fixed assets21/28 | €4,926 | €28,197 | €22,621 | €42,036 | €36,453 | ▼ 13.3% |
| Tangible fixed assets22/27 | €4,926 | €28,197 | €22,621 | €17,036 | €11,453 | ▼ 32.8% |
| Furniture and vehicles24 | - | €24,641 | €19,475 | €14,301 | €9,128 | ▼ 36.2% |
| Other tangible fixed assets26 | - | €3,556 | €3,145 | €2,735 | €2,325 | ▼ 15.0% |
| Financial fixed assets28 | - | - | - | €25,000 | €25,000 | = |
| Current assets29/58 | €512,164 | €379,753 | €293,219 | €252,503 | €208,577 | ▼ 17.4% |
| Stocks and contracts in progress3 | €68,500 | €90,470 | €90,470 | €90,470 | €84,870 | ▼ 6.2% |
| Stocks30/36 | - | €90,470 | €90,470 | €90,470 | €84,870 | ▼ 6.2% |
| Amounts receivable within one year40/41 | €124,144 | €134,859 | €173,422 | €161,138 | €119,087 | ▼ 26.1% |
| Trade receivables40 | - | €127,477 | €136,149 | €153,874 | €115,552 | ▼ 24.9% |
| Other amounts receivable41 | - | €7,382 | €37,273 | €7,264 | €3,535 | ▼ 51.3% |
| Cash at bank and in hand54/58 | €317,776 | €152,497 | €27,684 | €895 | €3,830 | ▲ 328% |
| Deferred charges and accrued income490/1 | - | €1,927 | €1,643 | - | €789 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €517,090 | €407,950 | €315,839 | €294,539 | €245,029 | ▼ 16.8% |
| Equity10/15 | -€49,898 | -€145,722 | -€217,239 | -€250,178 | -€297,325 | ▼ 18.8% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | -€69,898 | -€165,722 | -€237,239 | -€270,178 | -€317,325 | ▼ 17.5% |
| Amounts payable17/49 | €566,988 | €553,672 | €533,078 | €544,717 | €542,355 | ▼ 0.4% |
| Amounts payable after more than one year17 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Financial debts170/4 | - | €50,000 | - | - | - | - |
| Other amounts payable178/9 | - | - | €50,000 | €50,000 | €50,000 | = |
| Amounts payable within one year42/48 | €515,305 | €501,628 | €480,663 | €490,773 | €487,820 | ▼ 0.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,156 | - | - |
| Financial debts43 | - | €450,000 | €450,000 | €450,000 | €450,000 | = |
| Credit institutions430/8 | - | €450,000 | €450,000 | €450,000 | €450,000 | = |
| Trade debts44 | €1,367 | €24,140 | €22,831 | €24,341 | €3,326 | ▼ 86.3% |
| Suppliers440/4 | - | €24,140 | €22,831 | €24,341 | €3,326 | ▼ 86.3% |
| Taxes, remuneration and social security45 | - | €21,350 | €7,832 | €8,978 | €34,285 | ▲ 282% |
| Taxes450/3 | - | €1,350 | €7,832 | €8,978 | €34,285 | ▲ 282% |
| Remuneration and social security454/9 | - | €20,000 | €0 | - | - | - |
| Other amounts payable47/48 | - | €6,138 | €0 | €298 | €210 | ▼ 29.5% |
| Accrued charges and deferred income492/3 | - | €2,044 | €2,415 | €3,944 | €4,535 | ▲ 15.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,399 | -€95,825 | -€71,517 | -€32,939 | -€47,147 | ▼ 43.1% |
| + Depreciation and write-downs630 | €940 | €1,453 | €5,576 | €5,585 | €5,583 | = |
| Operating cash flow (approximation) | €34,339 | -€94,372 | -€65,940 | -€27,354 | -€41,564 | ▼ 51.9% |
| Investment in fixed assets (approximation) | - | -€24,724 | €0 | -€25,000 | €0 | ▲ 100% |
| Change in cash | - | -€165,279 | -€124,813 | -€26,789 | €2,935 | ▲ 111% |
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
2026
08-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 161 days late
08-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 526 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Weakest financial yearnet -€95,825
Net result drops to -€95,825, the lowest in the series; recovery starts the following year.
20-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 142 days late
2020
31-12
Financial
Back to profitnet €33,399
Net result €33,399 after 2 loss-making years.
24-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 146 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Kortrijk · 1 establishment unit since 2017
Ground area
1,987 m²
Building footprint
379 m²
Volume, LiDAR
2,142 m³
2 parcels, Flanders · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TOPPROJECTS
since 20172.269.901.651
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34005B0213/00S007 | Flanders | 1,315 m² | 1 · 239 m² | 11.0 m · 2 fl. |
| 34354C0183/00N000 | Flanders | 672 m² | 1 · 140 m² | 9.0 m · 2 fl. |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
50%
Holdings 1
-
12.36%
According to the 2024 annual accounts of TOPPROJECTS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 29,787 companies in sector 41001 we hold annual accounts for 16,056. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded09-11-2017
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68122Development of non-residential building projects
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0684527812
Also
9925:BE0684527812
Registered
01-01-2026
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.