ERM Project
ActiveSummary
ERM Project has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €453k and a net result of €64k. Equity is growing by ~15% per year across the filed fiscal years. Its solvency ranks better than 62% of 2015 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▼-5
Solvency82▼-8
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 2.36 against 3.06 in 2024; short-term debt: 41.5% and cash: 51.2% of total assets), and 42.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
57.5%
Return on assets
8.1%
Age of the figures
9 mo
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
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
29 d early
2023
50 d early
2022
24 d late
2021
3 d late
2020
40 d early
2019
8 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€64k▼ 18.7%
2024 · €79k
2018: €85k
2019: €95k▲ +11.7% vs 2018
2020: €126k▲ +33.3% vs 2019
2021: €158k▲ +24.9% vs 2020highest in 8 years
2022: €109k▼ -30.8% vs 2021
2023: €-14k▼ -113% vs 2022lowest in 8 years
2024: €79k▲ +645% vs 2023
2025: €64k▼ -18.7% vs 2024
2018 → 2025
Working capital
€445k▲ 3.8%
2024 · €428k
2018: €159k
2019: €120k▼ -24.3% vs 2018lowest in 8 years
2020: €217k▲ +80.1% vs 2019
2021: €221k▲ +2.2% vs 2020
2022: €315k▲ +42.2% vs 2021
2023: €328k▲ +4.2% vs 2022
2024: €428k▲ +30.5% vs 2023
2025: €445k▲ +3.8% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€275k-€384k▲ 39.7%€370k▼ 3.8%€419k▲ 13.2%€453k▲ 8.2%
2021: €275klowest in 5 years
2022: €384k▲ +39.7% vs 2021
2023: €370k▼ -3.8% vs 2022
2024: €419k▲ +13.2% vs 2023
2025: €453k▲ +8.2% vs 2024highest in 5 years
Operating result€202k-€175k▼ 13.2%€6k▼ 96.6%€117k▲ 1,874%€103k▼ 12.4%
2021: €202khighest in 5 years
2022: €175k▼ -13.2% vs 2021
2023: €6k▼ -96.6% vs 2022lowest in 5 years
2024: €117k▲ +1874% vs 2023
2025: €103k▼ -12.4% vs 2024
Net result€158k-€109k▼ 30.8%€-14k€79k€64k▼ 18.7%
2021: €158khighest in 5 years
2022: €109k▼ -30.8% vs 2021
2023: €-14k▼ -113% vs 2022lowest in 5 years
2024: €79k▲ +645% vs 2023
2025: €64k▼ -18.7% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 12% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €788k
Fixed assets
€17k ▲ 145%
Current assets
€772k ▲ 21.3%
Equity and liabilities €788k
Equity
€453k ▲ 8.2%
Debt
€335k ▲ 49.4%
Debt's share of the balance-sheet total rises from 34.9% to 42.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€110k▼
2024 · €126k
Cash flow
€71k▼
2024 · €88k
Current ratio
2.36▼
2024 · 3.06
Debt to equity
0.74▲
2024 · 0.54
ROE
14.2%▼
2024 · 18.9%
ROA
8.1%▼
2024 · 12.3%
Interest coverage
8.42▼
2024 · 9.63
Debt ≤ 1 year
€327k▲
2024 · €208k
Debt > 1 year
€8k▼
2024 · €15k
Income taxes
€26k▼
2024 · €26k
Staff costs
€441k▲
2024 · €419k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€643k€788k▲
Fixed assets21/28€7k€17k▲
Tangible fixed assets22/27€7k€17k▲
Furniture and vehicles24€7k€17k▲
Current assets29/58€636k€772k▲
Amounts receivable within one year40/41€461k€353k▼
Trade receivables40€372k€318k▼
Other amounts receivable41€89k€35k▼
Cash at bank and in hand54/58€165k€404k▲
Deferred charges and accrued income490/1€10k€15k▲
Equity and liabilities
Total equity and liabilities10/49€643k€788k▲
Equity10/15€419k€453k▲
Contributions10/11€20k€20k=
Reserves13€30k€30k=
Tax-exempt reserves132€30k€30k=
Profit (loss) carried forward14€368k€402k▲
Amounts payable17/49€224k€335k▲
Amounts payable after more than one year17€15k€8k▼
Financial debts170/4€15k€8k▼
Amounts payable within one year42/48€208k€327k▲
Current portion of amounts payable after more than one year42€32k€7k▼
Financial debts43-€101k
Credit institutions430/8-€636
Other loans439-€100k
Trade debts44€91k€85k▼
Suppliers440/4€91k€85k▼
Taxes, remuneration and social security45€54k€94k▲
Taxes450/3€5k€46k▲
Remuneration and social security454/9€49k€48k▼
Other amounts payable47/48€31k€41k▲
Accrued charges and deferred income492/3€875-
Income statement
Code20242025
Remuneration, social security and pensions62€419k€441k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€7k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€23k€-291▼
Other operating charges640/8€4k€327▼
Gross operating margin9900€572k€550k▼
Operating profit (loss)9901€117k€103k▼
Financial income75/76B€2k€605▼
Recurring financial income75€2k€605▼
Financial charges65/66B€13k€13k▼
Recurring financial charges65€13k€13k▼
Profit (loss) for the period before taxes9903€105k€90k▼
Income taxes67/77€26k€26k▼
Profit (loss) for the period9904€79k€64k▼
Profit (loss) for the period to be appropriated9905€79k€64k▼
Appropriation of the result
Profit (loss) to be appropriated9906€398k€432k▲
Profit (loss) brought forward from the previous period14P€319k€368k▲
Profit to be distributed694/7€30k€30k=
Directors or managers695€30k€30k=
Social balance
Average headcount (FTE)90876.4-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €244k | €301k | €361k | €419k | €441k | ▲ 5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €12k | €16k | €9k | €7k | ▼ 18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2k | - | €23k | €-291 | ▼ 101% |
| Other operating charges640/8 | €2k | €2k | €1k | €4k | €327 | ▼ 91.9% |
| Gross operating margin9900 | €460k | €491k | €384k | €572k | €550k | ▼ 3.7% |
| Operating profit (loss)9901 | €202k | €175k | €6k | €117k | €103k | ▼ 12.4% |
| Financial income75/76B | - | - | - | €2k | €605 | ▼ 59.9% |
| Recurring financial income75 | - | - | - | €2k | €605 | ▼ 59.9% |
| Financial charges65/66B | €9k | €12k | €12k | €13k | €13k | ▼ 0.3% |
| Recurring financial charges65 | €9k | €12k | €12k | €13k | €13k | ▼ 0.3% |
| Profit (loss) for the period before taxes9903 | €193k | €163k | €-6k | €105k | €90k | ▼ 14.6% |
| Income taxes67/77 | €35k | €54k | €9k | €26k | €26k | ▼ 2.4% |
| Profit (loss) for the period9904 | €158k | €109k | €-14k | €79k | €64k | ▼ 18.7% |
| Profit (loss) for the period to be appropriated9905 | €158k | €109k | €-14k | €79k | €64k | ▼ 18.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €458k | €524k | €601k | €643k | €788k | ▲ 22.6% |
| Fixed assets21/28 | €69k | €69k | €64k | €7k | €17k | ▲ 145% |
| Intangible fixed assets21 | €116 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €69k | €69k | €64k | €7k | €17k | ▲ 145% |
| Land and buildings22 | €59k | €54k | €48k | - | - | - |
| Furniture and vehicles24 | €10k | €16k | €16k | €7k | €17k | ▲ 145% |
| Current assets29/58 | €390k | €455k | €537k | €636k | €772k | ▲ 21.3% |
| Amounts receivable within one year40/41 | €313k | €314k | €382k | €461k | €353k | ▼ 23.4% |
| Trade receivables40 | €313k | €288k | €310k | €372k | €318k | ▼ 14.4% |
| Other amounts receivable41 | €357 | €27k | €71k | €89k | €35k | ▼ 61.0% |
| Cash at bank and in hand54/58 | €74k | €130k | €141k | €165k | €404k | ▲ 145% |
| Deferred charges and accrued income490/1 | €3k | €11k | €15k | €10k | €15k | ▲ 45.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €458k | €524k | €601k | €643k | €788k | ▲ 22.6% |
| Equity10/15 | €275k | €384k | €370k | €419k | €453k | ▲ 8.2% |
| Contributions10/11 | €19k | €19k | €19k | €20k | €20k | = |
| Reserves13 | €32k | €32k | €32k | €30k | €30k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | €30k | €30k | €30k | €30k | €30k | = |
| Profit (loss) carried forward14 | €224k | €334k | €319k | €368k | €402k | ▲ 9.3% |
| Amounts payable17/49 | €183k | €140k | €232k | €224k | €335k | ▲ 49.4% |
| Amounts payable after more than one year17 | €15k | - | €22k | €15k | €8k | ▼ 47.0% |
| Financial debts170/4 | €15k | - | €22k | €15k | €8k | ▼ 47.0% |
| Amounts payable within one year42/48 | €168k | €140k | €209k | €208k | €327k | ▲ 57.2% |
| Current portion of amounts payable after more than one year42 | €17k | €50k | €42k | €32k | €7k | ▼ 77.3% |
| Financial debts43 | - | - | - | - | €101k | - |
| Credit institutions430/8 | - | - | - | - | €636 | - |
| Other loans439 | - | - | - | - | €100k | - |
| Trade debts44 | €2k | €45k | €89k | €91k | €85k | ▼ 7.2% |
| Suppliers440/4 | €2k | €45k | €89k | €91k | €85k | ▼ 7.2% |
| Taxes, remuneration and social security45 | €59k | €44k | €78k | €54k | €94k | ▲ 73.3% |
| Taxes450/3 | €32k | €9k | €9k | €5k | €46k | ▲ 770% |
| Remuneration and social security454/9 | €27k | €36k | €69k | €49k | €48k | ▼ 2.2% |
| Other amounts payable47/48 | €90k | - | €394 | €31k | €41k | ▲ 32.8% |
| Accrued charges and deferred income492/3 | - | - | - | €875 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €158k | €109k | €-14k | €79k | €64k | ▼ 18.7% |
| + Depreciation and write-downs630 | €11k | €12k | €16k | €9k | €7k | ▼ 18.2% |
| Operating cash flow (approximation) | €169k | €121k | €1k | €88k | €71k | ▼ 18.6% |
| Investment in fixed assets (approximation) | - | €-12k | €-10k | €48k | €-17k | ▼ 136% |
| Change in cash | - | €56k | €11k | €24k | €239k | ▲ 887% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €79k
Net result €79k after one loss-making year.
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
31-12
Financial
Highest result since 2018net €158k ▲24.9%
Operating result €202k, net result €158k, both a record.
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200kEq €207k ▲33%
3 profitable years in a row build equity to €207k.
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150kEq €156k ▲14.6%
2 profitable years in a row build equity to €156k.
Show earlier events
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 17 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Mont-Saint-Guibert · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Emile Francqui 11435 Mont-Saint-Guibert1 establishment unit
ERM Project
since 20082.173.482.661
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Of 2,143 companies in sector 71209 we hold annual accounts for 1,085. 712 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
Founded24-09-2008
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
70200Business and other management consultancy
71111Activities of building architects
74999Other professional, scientific and technical activities
Contact
E-mail
info@erm-project.euMont-Saint-Guibert
Phone
081/713470Mont-Saint-Guibert
Fax
081/713479Mont-Saint-Guibert
Scores and ratios are computed by Checked and are not a credit decision.