DE LETTER PASCAL
ActiveSummary
DE LETTER PASCAL has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €31,730 and a net result of -€14,441. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability5▼-80
Solvency49=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.01 against 1.09 in 2023; short-term debt: 75.6% and cash: 69.2% of total assets), and 75.6% of the assets are financed with debt.
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Signals
Four 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
24.4%
Return on assets
-11.1%
Age of the figures
21 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 22-06-2026, 39 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
39 d early
2024
25 d late
2023
701 d late
2022
24 d late
2021
96 d early
2020
31 d early
2019
35 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 78 days after the deadline; the sector median for financial year 2024 is 7 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. Usually files around 24 August (4 of the last 5 filed years within 120 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€31,730▼ 31.3%
2023 · €46,171
Total assets
€129,868▼ 31.4%
2023 · €189,221
Net result
-€14,441
2023 · €24,912
Working capital
€1,115▼ 91.4%
2023 · €12,938
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€86,886▲ 260%€62,143▼ 28.5%€16,417▼ 73.6%€39,277▲ 139%-€12,349
Net result€57,339within the sector's middle half▲ 2,374%€43,628within the sector's middle half▼ 23.9%€7,004within the sector's middle half▼ 83.9%€24,912within the sector's middle half▲ 256%-€14,441within the sector's middle half
Equity€368,460within the sector's middle half▲ 18.4%€14,255below the sector's middle half▼ 96.1%€21,259below the sector's middle half▲ 49.1%€46,171below the sector's middle half▲ 117%€31,730below the sector's middle half▼ 31.3%
Total assets€1.1mwithin the sector's middle half▼ 15.4%€1.1mwithin the sector's middle half▲ 1.6%€181,563below the sector's middle half▼ 83.0%€189,221below the sector's middle half▲ 4.2%€129,868below the sector's middle half▼ 31.4%
Debt€683,249▼ 26.6%€1.0m▲ 49.9%€160,304▼ 84.3%€143,051▼ 10.8%€98,138▼ 31.4%
Working capital€343,907within the sector's middle half▲ 19.1%€9,348within the sector's middle half▼ 97.3%-€12,159within the sector's middle half€12,938within the sector's middle half€1,115within the sector's middle half▼ 91.4%
Solvency35.0%within the sector's middle half▲ 10.0pp1.3%below the sector's middle half▼ 33.7pp11.7%within the sector's middle half▲ 10.4pp24.4%within the sector's middle half▲ 12.7pp24.4%within the sector's middle half=
Current ratio1.52within the sector's middle half▲ 0.201.01within the sector's middle half▼ 0.510.92within the sector's middle half▼ 0.091.09within the sector's middle half▲ 0.171.01within the sector's middle half▼ 0.08
Return on assets (ROA)5.5%above the sector's middle half▲ 5.3pp4.1%within the sector's middle half▼ 1.4pp3.9%within the sector's middle half▼ 0.2pp13.2%above the sector's middle half▲ 9.3pp-11.1%below the sector's middle half▼ 24.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €12,349 after €39,277 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €129,868
Fixed assets
€30,614 ▼ 7.9%
Current assets
€99,253 ▼ 36.4%
Equity and liabilities €129,868
Equity
€31,730 ▼ 31.3%
Debt
€98,138 ▼ 31.4%
Debt's share of the balance-sheet total stays at 75.6%.
Key figures and ratios
EBITDA
-€6,120▼
2023 · €48,519
Cash flow
-€8,212▼
2023 · €34,154
Quick ratio
0.99▼
2023 · 1.08
Debt to equity
3.09▼
2023 · 3.10
ROE
-45.5%▼
2023 · 54.0%
Interest coverage
-5.82▼
2023 · 43.93
Debt ≤ 1 year
€98,138▼
2023 · €143,051
Income taxes
€1,041▼
2023 · €13,260
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,221 companies that looked in July 2024 the way this one looks now, 3.8% went bankrupt within 24 months and 88% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.8%
went bankrupt
7.4%
stopped otherwise
88%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,221 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,011 | €7,684 | €10,926 | €9,242 | €6,229 | ▼ 32.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €30,000 | -€30,000 | - | - | - |
| Other operating charges640/8 | - | €1,817 | €4,471 | €3,876 | €3,049 | ▼ 21.3% |
| Gross operating margin9900 | €97,328 | €101,645 | €1,814 | €52,395 | -€3,071 | ▼ 106% |
| Operating profit (loss)9901 | €86,886 | €62,143 | €16,417 | €39,277 | -€12,349 | ▼ 131% |
| Financial income75/76B | - | €1,222 | €674 | €0 | - | - |
| Recurring financial income75 | €98 | €1 | €47 | €0 | - | - |
| Non-recurring financial income76B | - | €1,221 | €627 | - | - | - |
| Financial charges65/66B | - | €2,250 | €2,037 | €1,104 | €1,051 | ▼ 4.8% |
| Recurring financial charges65 | €2,801 | €2,250 | €2,037 | €1,104 | €1,051 | ▼ 4.8% |
| Profit (loss) for the period before taxes9903 | €84,184 | €61,116 | €15,054 | €38,173 | -€13,400 | ▼ 135% |
| Income taxes67/77 | €26,845 | €17,488 | €8,051 | €13,260 | €1,041 | ▼ 92.1% |
| Profit (loss) for the period9904 | €57,339 | €43,628 | €7,004 | €24,912 | -€14,441 | ▼ 158% |
| Profit (loss) for the period to be appropriated9905 | €57,339 | €43,628 | €7,004 | €24,912 | -€14,441 | ▼ 158% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.1m | €181,563 | €189,221 | €129,868 | ▼ 31.4% |
| Fixed assets21/28 | €51,243 | €52,369 | €41,443 | €33,233 | €30,614 | ▼ 7.9% |
| Tangible fixed assets22/27 | €51,243 | €52,369 | €41,443 | €33,233 | €30,614 | ▼ 7.9% |
| Land and buildings22 | - | €34,916 | €30,361 | €25,806 | €21,251 | ▼ 17.7% |
| Plant, machinery and equipment23 | - | €552 | €430 | €307 | €184 | ▼ 40.0% |
| Furniture and vehicles24 | - | €11,400 | €5,152 | €1,619 | €3,679 | ▲ 127% |
| Other tangible fixed assets26 | - | €5,500 | €5,500 | €5,500 | €5,500 | = |
| Current assets29/58 | €1.0m | €1.0m | €140,120 | €155,988 | €99,253 | ▼ 36.4% |
| Stocks and contracts in progress3 | €526,124 | €620,884 | €1,736 | €1,736 | €1,736 | = |
| Stocks30/36 | - | €620,884 | €1,736 | €1,736 | €1,736 | = |
| Amounts receivable within one year40/41 | €10,639 | €3,744 | €14,286 | €432 | €6,122 | ▲ 1,316% |
| Trade receivables40 | - | €3,636 | €14,286 | €188 | €4,655 | ▲ 2,380% |
| Other amounts receivable41 | - | €108 | - | €245 | €1,467 | ▲ 500% |
| Cash at bank and in hand54/58 | €462,070 | €389,622 | €122,524 | €152,196 | €89,831 | ▼ 41.0% |
| Deferred charges and accrued income490/1 | - | €1,613 | €1,574 | €1,624 | €1,566 | ▼ 3.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €181,563 | €189,221 | €129,868 | ▼ 31.4% |
| Equity10/15 | €368,460 | €14,255 | €21,259 | €46,171 | €31,730 | ▼ 31.3% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €356,060 | €1,855 | €8,859 | €33,771 | €19,330 | ▼ 42.8% |
| Non-distributable reserves130/1 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | - | €7,004 | €31,916 | €17,475 | ▼ 45.2% |
| Provisions and deferred taxes16 | - | €30,000 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €30,000 | - | - | - | - |
| Other liabilities and charges164/5 | - | €30,000 | - | - | - | - |
| Amounts payable17/49 | €683,249 | €1.0m | €160,304 | €143,051 | €98,138 | ▼ 31.4% |
| Amounts payable after more than one year17 | €26,690 | €17,462 | €8,026 | - | - | - |
| Financial debts170/4 | - | €17,462 | €8,026 | - | - | - |
| Amounts payable within one year42/48 | €656,559 | €1.0m | €152,279 | €143,051 | €98,138 | ▼ 31.4% |
| Current portion of amounts payable after more than one year42 | - | €9,228 | €9,436 | €8,026 | - | - |
| Financial debts43 | - | €360,011 | - | - | - | - |
| Credit institutions430/8 | - | €360,011 | - | - | - | - |
| Trade debts44 | €3,408 | €5,759 | €7,692 | €9,681 | €11,961 | ▲ 23.6% |
| Suppliers440/4 | - | €5,759 | €7,692 | €9,681 | €11,961 | ▲ 23.6% |
| Taxes, remuneration and social security45 | - | €3,947 | €13,205 | €28,562 | €14,302 | ▼ 49.9% |
| Taxes450/3 | - | €2,588 | €9,099 | €27,203 | €14,302 | ▼ 47.4% |
| Remuneration and social security454/9 | - | €1,358 | €4,107 | €1,358 | - | - |
| Other amounts payable47/48 | - | €627,570 | €121,945 | €96,782 | €71,875 | ▼ 25.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,339 | €43,628 | €7,004 | €24,912 | -€14,441 | ▼ 158% |
| + Depreciation and write-downs630 | €8,011 | €7,684 | €10,926 | €9,242 | €6,229 | ▼ 32.6% |
| Operating cash flow (approximation) | €65,350 | €51,312 | €17,930 | €34,154 | -€8,212 | ▼ 124% |
| Investment in fixed assets (approximation) | - | -€8,810 | €0 | -€1,032 | -€3,610 | ▼ 250% |
| Change in cash | - | -€72,448 | -€267,098 | €29,672 | -€62,366 | ▼ 310% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 701 days late
22-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet -€14,441
Net result drops to -€14,441, the lowest in the series.
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 24 days late
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 51 days late
2016
23-12
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 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Pieters-Leeuw · 1 establishment unit since 2005
Ground area
3,564 m²
Building footprint
507 m²
Volume, LiDAR
3,391 m³
2 parcels, Flanders · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
De Letter Pascal
since 20052.145.418.680
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23037C0187/00G000 | Flanders | 2,271 m² | 1 · 312 m² | 7.8 m · 2 fl. |
| 23089D0148/00D000 | Flanders | 1,293 m² | 1 · 195 m² | 13.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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
2023 · 1 entry · 84 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 84 EUR | 0 EUR |
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 4,450 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 (pre-2019)
Founded09-02-2005
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68322Real estate appraisal on a fee or contract basis
81100Combined facilities support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0871802643
Registered
10-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.