ACTIVE

PROJECTIVE

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Financial year 2025 · closed on 31/12/2025

Net result

684,9 k €

+996.8% YoY

Revenue

17,9 M €

+27.9% YoY

Equity

1,4 M €

+32.3% YoY

Workforce

54,9 ETP

-5.8% YoY

What does PROJECTIVE do?

PROJECTIVE is a Public limited company incorporated in 2006. Its registered office is in Machelen (Brab.). It employs on average 54,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0885.932.969

Incorporation

26/12/2006

Legal form

Public limited company

Registered office

De Kleetlaan 5A box 4
1831 Machelen (Brab.) · FlandreSee on map

Contributed capital

434 063,89 €

Latest accounts

31/12/2025

Average workforce

54,9 ETP

Joint committees (2)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2007
Income statement
Revenue	17,9 M €	+27.9%	14 M €	-18.8%	17,3 M €	+2.8%	16,8 M €	+16.6%	14,4 M €	+8.4%	13,3 M €	+2.1%	13 M €	-9.6%	14,4 M €	+20.5%	11,9 M €	+15.6%	10,3 M €	-2.3%	10,6 M €	-2.4%	10,8 M €	+36.6%	7,9 M €		–		–		–		–		–
EBITDA	1,3 M €	+249%	363,7 k €	-46.1%	674,2 k €	-64.9%	1,9 M €	+111%	910,8 k €	-37.9%	1,5 M €	+133%	629,1 k €	-54.2%	1,4 M €	-4.9%	1,4 M €	+24.7%	1,2 M €	-0.2%	1,2 M €	-9.8%	1,3 M €	+73.3%	741,1 k €	-4.7%	777,7 k €	-16.4%	930,2 k €	+99.9%	465,3 k €	-20.7%	586,6 k €	+4.6%	560,6 k €
Operating result	1,1 M €	+376%	238,9 k €	-60.5%	604 k €	-69.2%	2 M €	+148%	790,4 k €	-41.1%	1,3 M €	+145%	547,7 k €	-58.4%	1,3 M €	-7.2%	1,4 M €	+25.2%	1,1 M €	-0.4%	1,1 M €	-8.1%	1,2 M €	+80.0%	687,6 k €	-5.5%	727,4 k €	-19.3%	900,9 k €	+104%	442,4 k €	-23.0%	574,4 k €	+3.3%	556 k €
Net result	684,9 k €	+997%	-76,4 k €	-122%	353,4 k €	-73.7%	1,3 M €	+48.8%	902,4 k €	-42.3%	1,6 M €	+245%	-1,1 M €	-178%	-387,6 k €	-136%	1,1 M €	+53.9%	703,3 k €	-2.7%	723,2 k €	-10.6%	809,1 k €	+24.3%	651 k €	+21.9%	533,8 k €	-24.8%	710,2 k €	+151%	283,2 k €	-26.8%	386,6 k €	+6.2%	364,1 k €
Balance sheet
Equity	1,4 M €	+32.3%	1,1 M €	-6.7%	1,1 M €	-37.7%	1,8 M €	-92.9%	25,8 M €	+238%	7,6 M €	+145%	3,1 M €	-25.7%	4,2 M €	-8.4%	4,6 M €	+30.9%	3,5 M €	-1.8%	3,6 M €	+26.4%	2,8 M €	+20.1%	2,4 M €	+21.7%	1,9 M €	+19.8%	1,6 M €	+25.8%	1,3 M €	-0.7%	1,3 M €	+109%	617,9 k €
Total assets	5,3 M €	+16.8%	4,5 M €	+23.9%	3,6 M €	-14.9%	4,3 M €	-87.2%	33,2 M €	+166%	12,5 M €	-1.4%	12,7 M €	+50.7%	8,4 M €	+3.4%	8,1 M €	+35.0%	6 M €	-11.6%	6,8 M €	+12.2%	6,1 M €	+23.1%	4,9 M €	+53.8%	3,2 M €	+0.3%	3,2 M €	+31.8%	2,4 M €	+17.7%	2,1 M €	+137%	869,3 k €
Cash	1,1 M €	+230%	325,3 k €	-50.5%	657,6 k €	+95.6%	336,2 k €	+14.8%	292,9 k €	-75.4%	1,2 M €	-53.2%	2,5 M €	+150%	1 M €	+213%	325,6 k €	-63.5%	891 k €	-22.9%	1,2 M €	-19.8%	1,4 M €	+20.0%	1,2 M €	+105%	585,3 k €	+91.6%	305,4 k €	-33.0%	455,5 k €	-51.6%	941,9 k €	+1665%	53,4 k €
Debts	3,5 M €	+10.4%	3,2 M €	+33.6%	2,4 M €	+7.1%	2,2 M €	-69.4%	7,2 M €	+60.1%	4,5 M €	-51.2%	9,2 M €	+126%	4,1 M €	+27.7%	3,2 M €	+38.6%	2,3 M €	-20.9%	2,9 M €	-8.3%	3,2 M €	+27.6%	2,5 M €	+106%	1,2 M €	-23.2%	1,6 M €	+37.2%	1,1 M €	+50.6%	757,4 k €	+202%	251 k €
Other
Workforce	54,9 ETP	-5.8%	58,3 ETP	+4.9%	55,6 ETP	+29.0%	43,1 ETP	+0.5%	42,9 ETP	+16.6%	36,8 ETP	+12.2%	32,8 ETP	+13.1%	29,0 ETP	+12.0%	25,9 ETP	+2.0%	25,4 ETP	+21.5%	20,9 ETP	+20.1%	17,4 ETP	-0.6%	17,5 ETP	-7.4%	18,9 ETP	+1.1%	18,7 ETP	+53.3%	12,2 ETP	+20.8%	10,1 ETP	+146%	4,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 60 ended

Active mandates

PROJECTIVE HOLDING

Director · since 19 juillet 2022 · until 19 juillet 2028 · 0786.786.893

Represented by Stefan Dierckx

Active

Ended mandates

PROJECTIVE HOLDING

Director · since 19 juillet 2022 · until 19 juillet 2028 · 0786.786.893

Represented by Stefan DIERKCX

Ended

Valhaeg

Director · since 27 décembre 2021 · until 24 avril 2026 · 0471.918.262

Represented by Frank VERHAEGEN

Ended

Toby PEARSON

Director · since 17 août 2021 · until 24 avril 2026

Ended

JINVEST

Director · since 28 avril 2021 · until 24 avril 2026 · 0477.073.417

Represented by Jürgen Ingels

Ended

At this address

Other companies at this address

Company	CBE no.
ALLIANCE HOLDING ASSOCIATION● Active	0715.625.418
BM 1 + 1 > 3● Active	1016.094.695
PROJECTIVE HOLDING● Active	0786.786.893

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/06/2026	25/06/2025	28/06/2024	31/05/2023	03/05/2022	18/05/2021
General meeting	29/05/2026	06/06/2025	31/05/2024	26/05/2023	29/04/2022	18/05/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	29/05/2026	10/06/2026	Dutch	PDF
Full model	31/12/2024	06/06/2025	25/06/2025	Dutch	PDF
Full model	31/12/2023	31/05/2024	28/06/2024	Dutch	PDF
Full model	31/12/2022	26/05/2023	31/05/2023	Dutch	PDF
Full model	31/12/2021	29/04/2022	03/05/2022	Dutch	PDF
Full model	31/12/2020	18/05/2021	18/05/2021	Dutch	PDF
Full model	31/12/2019	20/03/2020	10/04/2020	Dutch	PDF
Full model	31/12/2018	15/03/2019	16/04/2019	Dutch	PDF
Full model	31/12/2017	16/03/2018	11/04/2018	Dutch	PDF
Full model	31/12/2016	17/03/2017	14/04/2017	Dutch	PDF
Full model	31/12/2015	09/03/2016	06/04/2016	Dutch	PDF
Full model	31/12/2014	22/05/2015	22/06/2015	Dutch	PDF
Full model	31/12/2013	04/04/2014	23/04/2014	Dutch	PDF
Abridged model	31/12/2012	24/05/2013	10/06/2013	Dutch	PDF
Abridged model	31/12/2011	25/05/2012	04/06/2012	Dutch	PDF
Abridged model	31/12/2010	19/05/2011	27/05/2011	Dutch	PDF
Abridged model	31/12/2009	20/05/2010	18/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/01/2009	19/02/2009	Dutch	PDF
Abridged model	31/12/2007	15/05/2008	30/05/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

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.

Discover the Business plan

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 31/12/2025 · 1 active · 60 ended

Active mandates

PROJECTIVE HOLDING

Director · since 19 juillet 2022 · until 19 juillet 2028 · 0786.786.893

Represented by Stefan Dierckx

Active

Ended mandates

PROJECTIVE HOLDING

Director · since 19 juillet 2022 · until 19 juillet 2028 · 0786.786.893

Represented by Stefan DIERKCX

Ended

Valhaeg

Director · since 27 décembre 2021 · until 24 avril 2026 · 0471.918.262

Represented by Frank VERHAEGEN

Ended

Toby PEARSON

Director · since 17 août 2021 · until 24 avril 2026

Ended

JINVEST

Director · since 28 avril 2021 · until 24 avril 2026 · 0477.073.417

Represented by Jürgen Ingels

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates26/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Other28/11/2022
DIVERSEN
PDF
Mandates27/07/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/06/2022
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring13/06/2022
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Capital / shares12/05/2022
KAPITAAL - AANDELEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025684,9 k €↑
2024
Annual accounts 2024-76,4 k €↓
2023
Annual accounts 2023353,4 k €↓
2022
Annual accounts 20221,3 M €↑
2021
Annual accounts 2021902,4 k €↓
2020
Annual accounts 20201,6 M €↑
2019
Annual accounts 2019-1,1 M €↓
2018
Annual accounts 2018-387,6 k €↓
2017
Annual accounts 20171,1 M €↑
2016
Annual accounts 2016703,3 k €↓
2015
Annual accounts 2015723,2 k €↓
2014
Annual accounts 2014809,1 k €↑
2013
Annual accounts 2013651 k €↑
2012
Annual accounts 2012533,8 k €↓
2011
Annual accounts 2011710,2 k €↑
2010
Annual accounts 2010283,2 k €↓
2009
Annual accounts 2009386,6 k €↑
2007
Annual accounts 2007364,1 k €
26/12/2006
IncorporationPublic limited company

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

PROJECTIVE

Overview

What does PROJECTIVE do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

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