Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PROJECTIVE HOLDING from Machelen (Brab.), company number BE0786786893, closed financial year 2025 with a result of € -6.4 million after tax. For that financial year PROJECTIVE HOLDING recorded revenue of € 0 and equity of € 111.4 million. Compared with financial year 2024, the result moved from € -16.9 million to € -6.4 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 11, 2026.
€ 111.4 million
▼ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -6.4 million
▲ 62 % less loss than in 2024
Profit after tax over the fiscal year.
€ 376,271
▲ 167% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -17 million.
People and assets in 2025
8.6
▼ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 872,487
▼ 6% vs 2024
€ 101,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
€ 46.4 million
▼ 5% vs 2024
€ 4.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 596,145
▼ 54% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 56 days on average.
€ 100,605
▲ 14% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | € 2,475 | € 0 | ▼ 100% |
| Profit after taxes | € 1,015,997 | € 5,292,044 | € -16,907,835 | € -6,362,797 | ▲ € 10.5 million |
| Equity | € 80,390,832 | € 112,737,746 | € 117,782,175 | € 111,419,378 | ▼ 5% |
| Total debts | € 13,193,684 | € 43,375,500 | € 50,625,067 | € 48,507,031 | ▼ 4% |
| Cash | € 191,044 | € 164,828 | € 141,031 | € 376,271 | ▲ 167% |
| Retained profit | € 1,015,997 | € 6,308,041 | € -10,599,794 | € -16,962,591 | ▼ € 6.4 million |
| Bank debt | € 11,396,880 | € 41,948,994 | € 48,864,086 | € 46,353,816 | ▼ 5% |
| Balance sheet total | € 93,584,515 | € 156,113,246 | € 168,407,242 | € 159,926,409 | ▼ 5% |
| Employees (FTE) | 6.4 | 8.2 | 9.3 | 8.6 | ▼ 0.7 |
Key figures of PROJECTIVE HOLDING, 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 PROJECTIVE HOLDING?
What happened at PROJECTIVE HOLDING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Albert Poel stepped down as director. NBB
- David Pearson stepped down as director. NBB
- UNIBROW BV stepped down as director. NBB
- ALINE-D stepped down as director. NBB
- Ruben Monballieu stepped down as director. NBB
- JINVEST BV stepped down as director. NBB
- VALHAEG BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 6.4 million. Source: NBB ↗
In short
From € 1 million profit in 2022 to € 6.4 million loss in 2025.
Paid € 7,415 in corporate taxes since 2022.
Best year ever: 2023, with € 5.3 million profit.
Pays suppliers within 56 days on average.
Management
It owns 100% of Thede Consulting Gmbh, 100% of Tooler BV, 100% of Projective Group UK, 100% of Projective BC Germany Gmbh, 100% of Projective Talent BV and 100% of Projective BC France SARL itself.
Directors
According to the 2025 annual accounts
David Pearson
Director
since 2022 · until 2028
Director · represented by Stefan Dierckx
Also active at: THE MOOSE, SMARTFIN VENTURES, ALLIANCE HOLDING ASSOCIATION
since 2022 · until 2028
Albert Poel
Director
since 2024 · until 2030
since 2022 · until 2028
Ruben Monballieu
Director
Also active at: ELECTRO - VERBEKE, L.V.R. ELECTRONICS, VAN VOOREN, ELECTRO ZWIJSEN, INDUZZ3, BOVEMA INTERNATIONAL, LENAERTS, SETEC +12 more
since 2022 · until 2028
Director · represented by Jürgen Ingels
Also active at: Certimed, MENSURA Service Externe de Prévention et de Protection au travail, GHELAMCO INVEST, VYNCKE, WILLEMEN GROEP, ITINERIS, Varel Security Group, BRIKZ +5 more
since 2022 · until 2028
since 2022 · until 2028
Establishments
Establishment units
Physical locations of this company
De Kleetlaan 5A box 4
1831 Machelen (Brab.)
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0786.786.893
- VAT number
- BE 0786.786.893
- Registered office
- De Kleetlaan 5A bus 4, 1831 Machelen (Brab.)
- Names & denominations
- PROJECTIVE HOLDING
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 2 June 2022
- Peppol
- Active · Active since 5 Jan 2026
- Activities · NACE
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