OPENING OF BANKRUPTCY

PROJECT MASTERS

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Financial year 2016 · closed on 31/12/2016

Net result

6,3 k €

-33.1% YoY

Gross margin

188,1 k €

+39.6% YoY

Equity

167,5 k €

+3.9% YoY

Workforce

3,3 ETP

+50.0% YoY

Company — Opening of bankruptcy.

What does PROJECT MASTERS do?

PROJECT MASTERS is a Private company with limited liability incorporated in 2003. Its main activity is: Development of building projects. Its registered office is in Heist-op-den-Berg. It employs on average 3,3 ETP workers (FTE).

Legal situation

● Opening of bankruptcy

BCE/KBO no. / VAT

BE 0479.627.782

Incorporation

24/02/2003

Legal form

Private company with limited liability

Registered office

Koningsbaan 34
2220 Heist-op-den-Berg · FlandreSee on map

Latest accounts

31/12/2016

Average workforce

3,3 ETP

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 62020Computer consultancy activities 62200Computer programming, consultancy and related activities 72220Research and experimental development on social sciences and humanities

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	188,1 k €	+39.6%	134,7 k €	+153%	-255,6 k €	-396%	86,5 k €	+7.5%	80,4 k €	+65.9%	48,5 k €	+53.3%	31,6 k €	-18.1%	38,6 k €	+85.2%	20,9 k €	+4446%	-480 €	-118%	2,7 k €
EBITDA	74 k €	+78.1%	41,5 k €	+114%	-303,8 k €	-577%	63,6 k €	-9.4%	70,3 k €	+72.5%	40,8 k €	+36.8%	29,8 k €	-7.7%	32,3 k €	+62.7%	19,8 k €	+2282%	-909 €	-135%	2,6 k €
Operating result	67,1 k €	+96.4%	34,2 k €	+111%	-318,1 k €	-809%	44,9 k €	-10.0%	49,9 k €	+52.2%	32,7 k €	+49.8%	21,9 k €	-0.9%	22,1 k €	+72.4%	12,8 k €	+879%	-1,6 k €	-242%	1,2 k €
Net result	6,3 k €	-33.1%	9,5 k €	-61.1%	24,3 k €	-17.4%	29,4 k €	+5.6%	27,9 k €	+28.5%	21,7 k €	+63.1%	13,3 k €	-7.3%	14,4 k €	+69.8%	8,5 k €	+599%	-1,7 k €	-297%	862 €
Balance sheet
Equity	167,5 k €	+3.9%	161,2 k €	+6.2%	151,7 k €	+19.1%	127,4 k €	+30.1%	98 k €	+39.8%	70,1 k €	+44.9%	48,4 k €	+37.9%	35,1 k €	+69.3%	20,7 k €	+15004%	-139 €	-109%	1,6 k €
Total assets	975,7 k €	-6.6%	1 M €	+85.0%	564,9 k €	+43.2%	394,4 k €	+65.8%	237,9 k €	+32.0%	180,2 k €	+168%	67,3 k €	-31.9%	98,8 k €	+179%	35,5 k €	+4758%	730 €	-77.1%	3,2 k €
Cash	42 k €	+151%	16,7 k €	-55.3%	37,4 k €	-26.6%	51 k €	+87.4%	27,2 k €	-36.9%	43,1 k €	+291%	11 k €	+173%	4 k €	-33.7%	6,1 k €	+732%	730 €	-26.2%	989 €
Debts	808,1 k €	-8.5%	883,7 k €	+114%	413,2 k €	+64.1%	251,7 k €	+79.9%	140 k €	+30.7%	107,1 k €	+465%	19 k €	-70.3%	63,7 k €	+332%	14,7 k €	+1597%	869 €	-46.5%	1,6 k €
Other
Workforce	3,3 ETP	+50.0%	2,2 ETP	+69.2%	1,3 ETP	+117%	0,6 ETP		–		0,1 ETP	0.0%	0,1 ETP	-85.7%	0,7 ETP	+600%	0,1 ETP		–		–

Governance

Board of directors

Seen on filing of 31/12/2016 · 1 active · 7 ended

Active mandates

Paul Ceulemans

Manager

Active

Ended mandates

Paul Ceulemans

Manager · since 01 juillet 2010

Ended

Maaike Ceulemans

Manager · since 20 juin 2008

Ended

Willem Gorris

Manager · since 20 juin 2008

Ended

Yvo Breels

Mandate · since 19 février 2003

Ended

Annual accounts

Full financial information

	2016	2015	2014	2013	2012	2011
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2016	01/01/2015	01/01/2014	01/01/2013	01/01/2012	01/01/2011
Closing of the financial year	31/12/2016	31/12/2015	31/12/2014	31/12/2013	31/12/2012	31/12/2011
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/09/2017	30/06/2016	10/07/2015	23/06/2014	03/07/2013	22/06/2012
General meeting	16/06/2017	17/06/2016	19/06/2015	20/06/2014	21/06/2013	15/06/2012
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

11 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2016	16/06/2017	28/09/2017	Dutch	PDF
Abridged model	31/12/2015	17/06/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	19/06/2015	10/07/2015	Dutch	PDF
Abridged model	31/12/2013	20/06/2014	23/06/2014	Dutch	PDF
Abridged model	31/12/2012	21/06/2013	03/07/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	22/06/2012	Dutch	PDF
Abridged model	31/12/2010	17/06/2011	29/06/2011	Dutch	PDF
Abridged model	31/12/2009	03/05/2010	19/07/2010	Dutch	PDF
Abridged model	31/12/2008	19/06/2009	03/07/2009	Dutch	PDF
Abridged model	31/12/2007	05/05/2008	13/06/2008	Dutch	PDF
Abridged model	31/12/2006	30/08/2007	30/10/2007	Dutch	PDF

Estimate

Indicative valuation

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

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Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2016 · 1 active · 7 ended

Active mandates

Paul Ceulemans

Manager

Active

Ended mandates

Paul Ceulemans

Manager · since 01 juillet 2010

Ended

Maaike Ceulemans

Manager · since 20 juin 2008

Ended

Willem Gorris

Manager · since 20 juin 2008

Ended

Yvo Breels

Mandate · since 19 février 2003

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/03/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/08/2010
ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/08/2009
MAATSCHAPPELIJKE ZETEL
PDF
Mandates12/08/2008
MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Other04/03/2003
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

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2016
Annual accounts 20166,3 k €↓
2015
Annual accounts 20159,5 k €↓
2014
Annual accounts 201424,3 k €↓
2013
Annual accounts 201329,4 k €↑
2012
Annual accounts 201227,9 k €↑
2011
Annual accounts 201121,7 k €↑
2010
Annual accounts 201013,3 k €↓
2009
Annual accounts 200914,4 k €↑
2008
Annual accounts 20088,5 k €↑
2007
Annual accounts 2007-1,7 k €↓
2006
Annual accounts 2006862 €
24/02/2003
IncorporationPrivate company with limited liability

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PROJECT MASTERS

Overview

What does PROJECT MASTERS do?

Trend over 11 financial years

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline