P&E CONSULT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 23 filings
Turnover
≈ €56,000
Estimated: probably between €37,000 and €89,000
Total assets
€65,716▼ 12.0%
2024 · €74,660
Net result
-€3,533▼ 2.7%
2024 · -€3,438
Working capital
€2,513
2024 · -€496
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€998
▲ 20.8%
2025
20182025
Net result
-€3,533
▼ 2.7%
2025
lowest quarter of the sector
20182025
Equity
€8,267
▼ 29.9%
2025
lowest quarter of the sector
20182025
Total assets
€65,716
▼ 12.0%
2025
lowest quarter of the sector
20182025
Debt
€57,449
▼ 8.6%
2025
20182025
Working capital
€2,513
2025
lowest quarter of the sector
20182025
Solvency
12.6%
▼ 3.2pp
2025
lowest quarter of the sector
20182025
Current ratio
1.06
▲ 0.08
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-5.4%
▼ 0.8pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1,342-€771▼ 42.6%€3,760▲ 388%€2,881▼ 23.4%€3,138▲ 8.9%-€1,359-€1,261▲ 7.2%-€998▲ 20.8%
Net result€912--€259€3,723below the sector's middle half€2,117below the sector's middle half▼ 43.1%€2,029below the sector's middle half▼ 4.2%-€2,941below the sector's middle half-€3,438below the sector's middle half▼ 16.9%-€3,533below the sector's middle half▼ 2.7%
Equity€10,569-€10,310▼ 2.5%€14,033below the sector's middle half▲ 36.1%€16,150below the sector's middle half▲ 15.1%€18,179below the sector's middle half▲ 12.6%€15,238below the sector's middle half▼ 16.2%€11,800below the sector's middle half▼ 22.6%€8,267below the sector's middle half▼ 29.9%
Total assets€24,048-€22,143▼ 7.9%€31,734below the sector's middle half▲ 43.3%€40,655below the sector's middle half▲ 28.1%€50,112below the sector's middle half▲ 23.3%€79,311below the sector's middle half▲ 58.3%€74,660below the sector's middle half▼ 5.9%€65,716below the sector's middle half▼ 12.0%
Debt€13,479-€11,833▼ 12.2%€17,702▲ 49.6%€24,505▲ 38.4%€31,933▲ 30.3%€64,073▲ 101%€62,860▼ 1.9%€57,449▼ 8.6%
Working capital€8,278-€9,266▲ 11.9%€10,749within the sector's middle half▲ 16.0%€11,831within the sector's middle half▲ 10.1%€12,050within the sector's middle half▲ 1.9%-€3,665below the sector's middle half-€496below the sector's middle half▲ 86.5%€2,513below the sector's middle half
Solvency43.9%-46.6%▲ 2.6pp44.2%within the sector's middle half▼ 2.3pp39.7%within the sector's middle half▼ 4.5pp36.3%within the sector's middle half▼ 3.4pp19.2%below the sector's middle half▼ 17.1pp15.8%below the sector's middle half▼ 3.4pp12.6%below the sector's middle half▼ 3.2pp
Current ratio1.61-1.78▲ 0.171.61within the sector's middle half▼ 0.181.48within the sector's middle half▼ 0.121.38within the sector's middle half▼ 0.110.90below the sector's middle half▼ 0.480.99below the sector's middle half▲ 0.091.06below the sector's middle half▲ 0.08
Return on assets (ROA)3.8%--1.2%▼ 5.0pp11.7%within the sector's middle half▲ 12.9pp5.2%within the sector's middle half▼ 6.5pp4.0%below the sector's middle half▼ 1.2pp-3.7%below the sector's middle half▼ 7.8pp-4.6%below the sector's middle half▼ 0.9pp-5.4%below the sector's middle half▼ 0.8pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €998, smaller than the loss of €1,261 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65,716
Fixed assets
€23,338 ▼ 33.7%
Current assets
€42,378 ▲ 7.4%
Equity and liabilities €65,716
Equity
€8,267 ▼ 29.9%
Debt
€57,449 ▼ 8.6%
Debt's share of the balance-sheet total rises from 84.2% to 87.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,872▼
2024 · €12,041
Cash flow
€8,337▼
2024 · €9,864
Debt to equity
6.95▲
2024 · 5.33
ROE
-42.7%▼
2024 · -29.1%
Interest coverage
7.12▼
2024 · 10.38
Debt ≤ 1 year
€39,865▼
2024 · €39,948
Debt > 1 year
€17,584▼
2024 · €22,525
Income taxes
€1,008▼
2024 · €1,018
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,810 | €3,993 | €51,222 | €2,285 | - |
| Depreciation and write-downs of the year | €1,775 | €2,183 | €11,126 | €13,302 | €11,870 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,270 | €1,246 | €787 | €1,775 | €2,183 | €11,126 | €13,302 | €11,870 | ▼ 10.8% |
| Other operating charges640/8 | - | - | - | €643 | €128 | €3,670 | €855 | €765 | ▼ 10.6% |
| Gross operating margin9900 | €3,368 | €2,824 | €5,052 | €5,299 | €5,448 | €13,437 | €12,896 | €11,636 | ▼ 9.8% |
| Operating profit (loss)9901 | €1,342 | €771 | €3,760 | €2,881 | €3,138 | -€1,359 | -€1,261 | -€998 | ▲ 20.8% |
| Financial income75/76B | - | - | - | €0 | €5 | €19 | - | €1 | - |
| Recurring financial income75 | €340 | €1 | €24 | €0 | €5 | €19 | - | €1 | - |
| Financial charges65/66B | - | - | - | €210 | €293 | €903 | €1,160 | €1,527 | ▲ 31.7% |
| Recurring financial charges65 | €171 | €373 | €62 | €210 | €293 | €903 | €1,160 | €1,527 | ▲ 31.7% |
| Profit (loss) for the period before taxes9903 | €1,512 | €398 | €3,723 | €2,671 | €2,850 | -€2,243 | -€2,420 | -€2,524 | ▼ 4.3% |
| Income taxes67/77 | €600 | €657 | - | €554 | €821 | €698 | €1,018 | €1,008 | ▼ 0.9% |
| Profit (loss) for the period9904 | €912 | -€259 | €3,723 | €2,117 | €2,029 | -€2,941 | -€3,438 | -€3,533 | ▼ 2.7% |
| Profit (loss) for the period to be appropriated9905 | €912 | -€259 | €3,723 | €2,117 | €2,029 | -€2,941 | -€3,438 | -€3,533 | ▼ 2.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €24,048 | €22,143 | €31,734 | €40,655 | €50,112 | €79,311 | €74,660 | €65,716 | ▼ 12.0% |
| Fixed assets21/28 | €2,291 | €1,044 | €3,283 | €4,319 | €6,129 | €46,224 | €35,208 | €23,338 | ▼ 33.7% |
| Tangible fixed assets22/27 | €2,291 | €1,044 | €3,283 | €4,319 | €6,129 | €46,224 | €35,208 | €23,338 | ▼ 33.7% |
| Plant, machinery and equipment23 | - | - | - | €1,403 | €1,713 | €814 | €167 | - | - |
| Furniture and vehicles24 | - | - | - | €2,915 | €4,416 | €45,410 | €35,041 | €23,338 | ▼ 33.4% |
| Current assets29/58 | €21,758 | €21,099 | €28,451 | €36,336 | €43,983 | €33,086 | €39,452 | €42,378 | ▲ 7.4% |
| Amounts receivable within one year40/41 | €8,219 | €13,304 | €14,163 | €16,493 | €11,771 | €6,791 | €36,919 | €27,634 | ▼ 25.1% |
| Trade receivables40 | - | - | - | €12,904 | €11,771 | €6,730 | €36,615 | €27,634 | ▼ 24.5% |
| Other amounts receivable41 | - | - | - | €3,589 | - | €61 | €304 | - | - |
| Cash at bank and in hand54/58 | €13,398 | €7,406 | €14,088 | €19,843 | €32,012 | €26,295 | €1,967 | €14,164 | ▲ 620% |
| Deferred charges and accrued income490/1 | - | - | - | - | €199 | - | €566 | €579 | ▲ 2.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €24,048 | €22,143 | €31,734 | €40,655 | €50,112 | €79,311 | €74,660 | €65,716 | ▼ 12.0% |
| Equity10/15 | €10,569 | €10,310 | €14,033 | €16,150 | €18,179 | €15,238 | €11,800 | €8,267 | ▼ 29.9% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €766 | €766 | €766 | €766 | €766 | €766 | €766 | €766 | = |
| Non-distributable reserves130/1 | - | - | - | €766 | €766 | €766 | €766 | €766 | = |
| Reserves not available under the articles1311 | - | - | - | €766 | €766 | €766 | €766 | €766 | = |
| Profit (loss) carried forward14 | €3,603 | €3,344 | €7,067 | €9,184 | €11,213 | €8,272 | €4,834 | €1,301 | ▼ 73.1% |
| Amounts payable17/49 | €13,479 | €11,833 | €17,702 | €24,505 | €31,933 | €64,073 | €62,860 | €57,449 | ▼ 8.6% |
| Amounts payable after more than one year17 | - | - | - | - | - | €27,322 | €22,525 | €17,584 | ▼ 21.9% |
| Financial debts170/4 | - | - | - | - | - | €27,322 | €22,525 | €17,584 | ▼ 21.9% |
| Amounts payable within one year42/48 | €13,479 | €11,833 | €17,702 | €24,505 | €31,933 | €36,752 | €39,948 | €39,865 | ▼ 0.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €4,664 | €4,796 | €4,941 | ▲ 3.0% |
| Trade debts44 | €300 | €1,366 | €405 | €332 | €972 | €1,409 | €936 | €7,941 | ▲ 748% |
| Suppliers440/4 | - | - | - | €332 | €972 | €1,409 | €936 | €7,941 | ▲ 748% |
| Taxes, remuneration and social security45 | - | - | - | €15,653 | €25,261 | €24,978 | €28,515 | €4,299 | ▼ 84.9% |
| Taxes450/3 | - | - | - | €4,553 | €3,161 | €1,078 | €3,615 | €4,299 | ▲ 18.9% |
| Remuneration and social security454/9 | - | - | - | €11,100 | €22,100 | €23,900 | €24,900 | - | - |
| Other amounts payable47/48 | - | - | - | €8,520 | €5,700 | €5,700 | €5,700 | €22,683 | ▲ 298% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €387 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €912 | -€259 | €3,723 | €2,117 | €2,029 | -€2,941 | -€3,438 | -€3,533 | ▼ 2.7% |
| + Depreciation and write-downs630 | €1,270 | €1,246 | €787 | €1,775 | €2,183 | €11,126 | €13,302 | €11,870 | ▼ 10.8% |
| Operating cash flow (approximation) | €2,181 | €987 | €4,510 | €3,892 | €4,212 | €8,185 | €9,864 | €8,337 | ▼ 15.5% |
| Investment in fixed assets (approximation) | - | €0 | -€3,026 | -€2,810 | -€3,993 | -€51,222 | -€2,285 | €0 | - |
| Change in cash | - | -€5,992 | €6,683 | €5,755 | €12,170 | -€5,717 | -€24,328 | €12,197 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,450 companies had the same profile as P&E CONSULT has now. Two years later, 93.3% were still going and 1.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
93.3%
was still going
5.1%
stopped otherwise
1.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of P&E CONSULT itself is lower: 0.1% within 12 months. It rests on far more data about P&E CONSULT than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,450 companies, not a prediction for P&E CONSULT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 14-07-2026 | 2026-00296414 | |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00295605 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00413873 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00351160 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20351909 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65700137 | |
| 31-12-2019 | micro format | 23-10-2020 | 2020-62800186 | |
| 31-12-2018 | micro format | 30-09-2019 | 2019-67500345 | |
| 31-12-2016 | full format | 08-09-2017 | 2017-60500380 | |
| 31-12-2015 | full format | 28-06-2016 | 2016-24500485 |