Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
Financials
Financial year 2025
PROJECT MONTOYER from Elsene, company number BE0480153859, closed financial year 2025 with a result of € 149,364 after tax. For that financial year PROJECT MONTOYER recorded a gross margin of € 2.9 million and equity of € 2 million. Compared with financial year 2024, the result moved from € 133,285 to € 149,364. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 23, 2026.
€ 2 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 149,364
▲ 12% vs 2024
Profit after tax over the fiscal year.
€ 5.3 million
▲ 34% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 280,116.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 21.5 million
Loans from banks and other lenders, long and short.
€ 80,960
▼ 81% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 508
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 2,543,009 | € 2,364,285 | € 2,757,207 | € 2,854,977 | ▲ 4% |
| Profit after taxes | € 349,644 | € -166,217 | € 133,285 | € 149,364 | ▲ 12% |
| Equity | € 1,900,635 | € 1,734,418 | € 1,867,703 | € 2,017,067 | ▲ 8% |
| Total debts | € 21,702,746 | € 22,068,581 | € 21,971,400 | € 22,580,043 | ▲ 3% |
| Cash | € 4,956,527 | € 2,932,496 | € 3,927,092 | € 5,252,163 | ▲ 34% |
| Land & buildings | € 16,934,466 | € 18,744,474 | € 17,727,184 | € 17,294,629 | ▼ 2% |
| Retained profit | € 163,684 | € -2,533 | € 130,752 | € 280,116 | ▲ 114% |
| Dividend | € 550,000 | € 0 | € 0 | € 0 | |
| Bank debt | € 21,504,638 | € 21,504,638 | € 21,504,638 | € 21,504,638 | |
| Balance sheet total | € 23,603,381 | € 23,802,999 | € 23,839,103 | € 24,597,111 | ▲ 3% |
Key figures of PROJECT MONTOYER, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to PROJECT MONTOYER?
What happened at PROJECT MONTOYER in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 149,364 (▲ 12% vs 2024). Source: NBB ↗
- Michaël Levy became a director. NBB
- Vincent Van Calck stepped down as director. NBB
- Maya Mzah Bessaker became a director. NBB
- Andrea Giuliani became a director. NBB
- Vincent Van Calck became a director. NBB
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 349,644 profit in 2022 to € 149,364 profit in 2025.
Best year ever: 2022, with € 349,644 profit.
Paid out € 550,000 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind PROJECT MONTOYER are Maya Mzah Bessaker, Andrea Giuliani and Michaël Levy. The shares are held by Generali Europe Income Holding S.A (100%).
Directors
According to the 2025 annual accounts
since 2024
since 2024
since 2026
Vincent Van Calck
Director
since 2020 · until 2026
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Louizalaan 523
1050 Elsene
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0480.153.859
- VAT number
- BE 0480.153.859
- Registered office
- Louizalaan 523, 1050 Elsene
- Names & denominations
- PROJECT MONTOYER
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 6 May 2003
- Peppol
- Active · Active since 14 Nov 2025
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen