Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 45 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PROJECTION.EU from Ittre, company number BE0887655611, closed financial year 2025 with a result of € 51,887 after tax. For that financial year PROJECTION.EU recorded a gross margin of € 1.1 million and equity of € 496,404. Compared with financial year 2024, the result moved from € -113,169 to € 51,887. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on February 27, 2026.
€ 496,404
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 51,887
▲ still € 113,169 loss in 2024
Profit after tax over the fiscal year.
€ 40,000 paid out
77 % of the profit went to the shareholders, mostly to LE SCENARIO (92 % of the shares). That is where the money ends up.
People and assets in 2025
13.6
▼ 0.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1 million
▼ 11% vs 2024
€ 73,800 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.
€ 34,357
▼ 32% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 316,556
▼ 9% vs 2024
€ 69,485 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 286,084
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 133,076
▼ 45% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,161,018 | € 1,167,602 | € 896,068 | € 1,105,783 | ▲ 23% |
| Profit after taxes | € 96,680 | € 3,417 | € -113,169 | € 51,887 | ▲ € 165,056 |
| Equity | € 894,269 | € 897,686 | € 484,517 | € 496,404 | ▲ 2% |
| Total debts | € 732,346 | € 625,572 | € 907,188 | € 777,620 | ▼ 14% |
| Cash | € 8,481 | € 52,313 | - | - | |
| Retained profit | € 817,369 | € 820,786 | € 407,617 | € 419,504 | ▲ 3% |
| Dividend | € 0 | € 0 | € 300,000 | € 40,000 | ▼ 87% |
| Bank debt | € 164,165 | € 77,664 | € 346,210 | € 316,556 | ▼ 9% |
| Balance sheet total | € 1,856,697 | € 1,735,581 | € 1,391,705 | € 1,274,024 | ▼ 8% |
| Employees (FTE) | 13.6 | 13.6 | 14.2 | 13.6 | ▼ 0.6 |
Key figures of PROJECTION.EU, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to PROJECTION.EU?
What happened at PROJECTION.EU in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Nicolas Fedorenko stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 51,887. filed late Source: NBB ↗
- ALMALU SRL stepped down as director. NBB
- Nicolas Fedorenko became a director. NBB
- ALMALU SRL became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Beersel. KBO
In short
From € 96,680 profit in 2022 to € 51,887 profit in 2025.
Paid € 59,984 in corporate taxes since 2022.
Best year ever: 2022, with € 96,680 profit.
On average € 81,300 of value added per employee in 2025.
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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
The stake of LE SCENARIO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PROJECTION.EUThe shares are held by LE SCENARIO (92%).
Directors
According to the 2025 annual accounts
Nicolas Fedorenko
Director
since 2022 · until 2028
since 2022 · until 2024
Shareholders
92%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue du Vieux-Pavé-d'Asquempont 46
1460 Ittre
Vaartweg 2
1651 Beersel
Active since 21 February 2007
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Website
Technologies
Hosting & Email
Email provider
Outlook.com (free)
Hosting
INFOMANIAK-AS, CH
Domain
Domain
projection.eu
Registrar
Key-Systems GmbH
Website info
Features
Security
Network
Details
- Company number
- 0887.655.611
- VAT number
- BE 0887.655.611
- Registered office
- Rue du Vieux-Pavé-d'Asquempont 46, 1460 Ittre
- Names & denominations
- PROJECTION.EU
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 2 March 2007
- Peppol
- Active · Active since 9 Dec 2025
- Contact
- projection.eu
- Activities · NACE
Detailhandel in verlichtingsartikelen in gespecialiseerde winkels
Detailhandel in artikelen voor verlichting en woninginrichting
Detailhandel in verlichtingsartikelen
Vervaardiging van andere producten van kunststof
Vervaardiging van optische instrumenten en van foto- en filmapparatuur
Groothandel in elektrische huishoudelijke apparaten en audio- en videoapparatuur
Overige bouwinstallatie, n.e.g.
Vervaardiging van verlichtingsapparaten
+3