2PG GROUP
ActiveSummary
2PG GROUP has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.9m and a net result of €460,739. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 35% of 655 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability22▼-11
Solvency50▼-8
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €550,000 at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.99 in 2024; short-term debt: 44.3% and cash: 4.3% of total assets), and 74.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
25.2%
Return on assets
1.1%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
9 d early
2023
5 d early
2022
4 d early
2021
34 d early
2020
2 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#6 company by total assets in Kuurne
Turnover
€5.5m
EBIT margin
18.5%
Net result
€460,739▼ 29.7%
2024 · €655,170
Working capital
-€3.9m▼ 2,045%
2024 · -€179,630
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€764,137▲ 113%€654,552▼ 14.3%€50,342▼ 92.3%-€108,791-€1.8m▼ 1,581%
Net result€420,457▲ 175%€4.7m▲ 1,021%€1.9m▼ 58.8%€655,170▼ 66.2%€460,739▼ 29.7%
EBIT margin
Equity€9.8m▲ 4.5%€13.5m▲ 37.9%€13.4m▼ 0.4%€14.1m▲ 4.9%€10.9m▼ 23.0%
Total assets€33.2m▼ 5.4%€44.6m▲ 34.3%€43.0m▼ 3.6%€43.0m▲ 0.1%€43.0m▲ 0.1%
Debt€23.2m▼ 9.1%€30.9m▲ 33.1%€29.4m▼ 5.0%€28.7m▼ 2.1%€32.0m▲ 11.5%
Working capital-€5.6m▲ 29.9%€3.0m€1.2m▼ 58.8%-€179,630-€3.9m▼ 2,045%
Staff (FTE)64.3▲ 20.9%64.2▼ 0.2%58.7▼ 8.6%57.3▼ 2.4%57.8▲ 0.9%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.8m in 2025 against €108,791 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €43.0m
Fixed assets
€27.8m ▲ 2.0%
Current assets
€15.2m ▼ 3.2%
Equity and liabilities €43.0m
Equity
€10.9m ▼ 23.0%
Provisions
€139,880 ▼ 6.0%
Debt
€32.0m ▲ 11.5%
Debt's share of the balance-sheet total rises from 66.9% to 74.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€240,187▼
2024 · €1.4m
Cash flow
€2.5m▲
2024 · €2.2m
Current ratio
0.80▼
2024 · 0.99
Debt to equity
2.95▲
2024 · 2.04
ROE
4.2%▼
2024 · 4.6%
ROA
1.1%▼
2024 · 1.5%
Interest coverage
0.27▼
2024 · 1.48
Debt ≤ 1 year
€19.1m▲
2024 · €15.9m
Debt > 1 year
€12.9m▲
2024 · €12.8m
Income taxes
€3,000▲
2024 · €1,787
Staff costs
€4.1m▲
2024 · €3.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €460,162 | €182,378 | €5,810 | €24,216 | €117,278 | ▲ 384% |
| Remuneration, social security and pensions62 | €3.6m | €3.6m | €3.8m | €3.8m | €4.1m | ▲ 9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.8m | €1.6m | €1.5m | €1.5m | €2.1m | ▲ 35.3% |
| Other operating charges640/8 | €104,629 | €102,310 | €112,803 | €78,754 | €78,224 | ▼ 0.7% |
| Non-recurring operating charges66A | €17,779 | €0 | - | - | €539 | - |
| Gross operating margin9900 | €6.2m | €5.9m | €5.5m | €5.3m | €4.4m | ▼ 16.0% |
| Operating profit (loss)9901 | €764,137 | €654,552 | €50,342 | -€108,791 | -€1.8m | ▼ 1,581% |
| Financial income75/76B | €205,805 | €4.8m | €2.9m | €1.7m | €3.2m | ▲ 84.2% |
| Recurring financial income75 | €205,805 | €4.8m | €2.9m | €1.7m | €3.2m | ▲ 84.2% |
| Non-recurring financial income76B | €0 | - | - | - | - | - |
| Financial charges65/66B | €450,090 | €513,362 | €1.0m | €961,484 | €882,015 | ▼ 8.3% |
| Recurring financial charges65 | €450,090 | €513,190 | €1.0m | €961,484 | €882,015 | ▼ 8.3% |
| Non-recurring financial charges66B | - | €172 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €519,852 | €5.0m | €1.9m | €647,982 | €454,764 | ▼ 29.8% |
| Transfer from deferred taxes780 | €8,976 | €8,975 | €8,975 | €8,975 | €8,975 | = |
| Income taxes67/77 | €108,370 | €279,256 | €7,237 | €1,787 | €3,000 | ▲ 67.9% |
| Profit (loss) for the period9904 | €420,457 | €4.7m | €1.9m | €655,170 | €460,739 | ▼ 29.7% |
| Transfer from tax-exempt reserves789 | €26,927 | €26,926 | €26,926 | €26,926 | €26,926 | = |
| Profit (loss) for the period to be appropriated9905 | €447,384 | €4.7m | €2.0m | €682,096 | €487,665 | ▼ 28.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €33.2m | €44.6m | €43.0m | €43.0m | €43.0m | ▲ 0.1% |
| Fixed assets21/28 | €31.7m | €25.1m | €25.9m | €27.3m | €27.8m | ▲ 2.0% |
| Intangible fixed assets21 | €290,174 | €159,582 | €330,210 | €854,057 | €2.4m | ▲ 186% |
| Tangible fixed assets22/27 | €21.0m | €19.9m | €19.2m | €18.2m | €17.1m | ▼ 5.9% |
| Land and buildings22 | €20.1m | €19.2m | €18.8m | €17.9m | €16.8m | ▼ 5.9% |
| Plant, machinery and equipment23 | €37,716 | €27,416 | €28,347 | €16,360 | €13,511 | ▼ 17.4% |
| Furniture and vehicles24 | €851,811 | €627,517 | €377,272 | €265,252 | €217,002 | ▼ 18.2% |
| Assets under construction and advance payments27 | - | - | - | - | €37,156 | - |
| Financial fixed assets28 | €10.4m | €5.0m | €6.4m | €8.3m | €8.3m | ▲ 0.2% |
| Current assets29/58 | €1.5m | €19.5m | €17.0m | €15.7m | €15.2m | ▼ 3.2% |
| Amounts receivable after more than one year29 | - | €14.9m | €14.2m | €11.1m | €0 | ▼ 100% |
| Other amounts receivable291 | - | €14.9m | €14.2m | €11.1m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €1.0m | €1.3m | €1.2m | €2.8m | €13.0m | ▲ 367% |
| Trade receivables40 | €694,276 | €68,228 | €35,701 | €372,094 | €8.0m | ▲ 2,037% |
| Other amounts receivable41 | €330,320 | €1.3m | €1.1m | €2.4m | €5.0m | ▲ 109% |
| Cash at bank and in hand54/58 | €404,649 | €3.1m | €1.5m | €1.5m | €1.9m | ▲ 25.5% |
| Deferred charges and accrued income490/1 | €37,062 | €87,934 | €148,620 | €339,565 | €351,076 | ▲ 3.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €33.2m | €44.6m | €43.0m | €43.0m | €43.0m | ▲ 0.1% |
| Equity10/15 | €9.8m | €13.5m | €13.4m | €14.1m | €10.9m | ▼ 23.0% |
| Contributions10/11 | €1.5m | €1.5m | €1.5m | €1.5m | €3.8m | ▲ 155% |
| Capital10 | €1.5m | €1.5m | €1.5m | €1.5m | €3.8m | ▲ 155% |
| Issued capital100 | €1.5m | €1.5m | €1.5m | €1.5m | €3.8m | ▲ 155% |
| Reserves13 | €1.6m | €1.6m | €1.6m | €1.6m | €5.3m | ▲ 238% |
| Non-distributable reserves130/1 | €150,000 | €150,000 | €150,000 | €150,000 | €383,000 | ▲ 155% |
| Legal reserve130 | €150,000 | €150,000 | €150,000 | €150,000 | €383,000 | ▲ 155% |
| Tax-exempt reserves132 | €546,095 | €519,169 | €492,243 | €465,317 | €438,391 | ▼ 5.8% |
| Distributable reserves133 | €953,774 | €953,774 | €953,774 | €953,774 | €4.5m | ▲ 370% |
| Profit (loss) carried forward14 | €6.6m | €10.4m | €10.3m | €11.0m | €1.7m | ▼ 84.4% |
| Provisions and deferred taxes16 | €175,782 | €166,806 | €157,831 | €148,856 | €139,880 | ▼ 6.0% |
| Deferred taxes168 | €175,782 | €166,806 | €157,831 | €148,856 | €139,880 | ▼ 6.0% |
| Amounts payable17/49 | €23.2m | €30.9m | €29.4m | €28.7m | €32.0m | ▲ 11.5% |
| Amounts payable after more than one year17 | €16.2m | €14.3m | €13.5m | €12.8m | €12.9m | ▲ 0.9% |
| Financial debts170/4 | €15.2m | €13.3m | €12.0m | €12.3m | €12.9m | ▲ 5.0% |
| Other amounts payable178/9 | €1.0m | €1.0m | €1.5m | €500,000 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €7.0m | €16.5m | €15.8m | €15.9m | €19.1m | ▲ 20.0% |
| Current portion of amounts payable after more than one year42 | €1.8m | €1.8m | €1.7m | €1.8m | €2.0m | ▲ 12.1% |
| Financial debts43 | €4.3m | €10.9m | €9.4m | €10.4m | €11.2m | ▲ 7.7% |
| Credit institutions430/8 | €4.3m | €10.9m | €9.4m | €10.4m | €11.2m | ▲ 7.7% |
| Trade debts44 | €238,175 | €402,590 | €237,105 | €669,234 | €1.6m | ▲ 143% |
| Suppliers440/4 | €238,175 | €402,590 | €237,105 | €669,234 | €1.6m | ▲ 143% |
| Taxes, remuneration and social security45 | €675,488 | €495,997 | €507,850 | €452,462 | €372,458 | ▼ 17.7% |
| Taxes450/3 | €123,192 | €87,934 | €10,368 | €9,481 | €98 | ▼ 99.0% |
| Remuneration and social security454/9 | €552,296 | €408,063 | €497,481 | €442,980 | €372,360 | ▼ 15.9% |
| Other amounts payable47/48 | €1,500 | €3.0m | €4.0m | €2.6m | €3.9m | ▲ 49.3% |
| Accrued charges and deferred income492/3 | €17,300 | €34,575 | €15,094 | €42,750 | €45,068 | ▲ 5.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €420,457 | €4.7m | €1.9m | €655,170 | €460,739 | ▼ 29.7% |
| + Depreciation and write-downs630 | €1.8m | €1.6m | €1.5m | €1.5m | €2.1m | ▲ 35.3% |
| Operating cash flow (approximation) | €2.2m | €6.3m | €3.4m | €2.2m | €2.5m | ▲ 15.8% |
| Investment in fixed assets (approximation) | - | €5.1m | -€2.4m | -€2.9m | -€2.6m | ▲ 9.7% |
| Change in cash | - | €2.7m | -€1.7m | -€14,850 | €376,498 | ▲ 2,635% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €4.7m ▲1,021%
Net result €4.7m, the highest in the series.
31-12
Financial
Liquidity times 6current ratio 1.18
Current ratio from 0.21 to 1.18.
31-12
Financial
Equity above €10mEq €13.5m ▲37.9%
5 profitable years in a row build equity to €13.5m.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €153,048 ▼86.2%
Net result drops to €153,048, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
15 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, Kuurne · 1 establishment unit since 1990
Ground area
3.4 ha
Building footprint
1.6 ha
Volume, LiDAR
9,197 m³
Parcel 34023A0497/00C000, Flanders · tallest building 17.7 m. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
VANROOCO NV
since 19902.049.631.081
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34023A0497/00C000 | Flanders | 3.4 ha | 1 · 1.6 ha | 17.7 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 24,109 EUR awarded · 24,193 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,096 EUR | 3,124 EUR |
| 2024 | 1 | 1,206 EUR | 1,179 EUR |
| 2023 | 2 | 16,558 EUR | 16,641 EUR |
| 2022 | 1 | 3,249 EUR | 3,249 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
875500C2MENTLNEOCS90
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Of 355 companies in sector 52249 we hold annual accounts for 266. 93 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded05-09-1990
Fiscal year end31-12
Activities, NACEBEL 2025
52249Warehousing and support activities for transportation
70100Activities of head offices
52100Warehousing and storage
62900Other information technology and computer services
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.