P.S.E.
ActiveSummary
P.S.E. has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €504,452 and a net result of €431,306. Equity remains stable across the filed fiscal years (±1.7% per year). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+43
Solvency100▲+31
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 14.92 against 6.21 in 2024; short-term debt: 6.4% and cash: 94.6% of total assets), and 11.6% 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
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
88.4%
Return on assets
75.6%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €504,452
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
34 d early
2023
29 d early
2022
32 d early
2021
20 d early
2020
30 d early
2019
11 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 24 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€504,452▲ 590%
2024 · €73,146
Total assets
€570,766▲ 240%
2024 · €167,913
Net result
€431,306
2024 · -€15,152
Working capital
€505,509▲ 2,219%
2024 · €21,796
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
Operating result€12,410▲ 1,087%€13,444▲ 8.3%€5,085▼ 62.2%-€14,978€627,576
Net result€7,518€8,092▲ 7.6%€2,701▼ 66.6%-€15,152€431,306
Equity€91,735▲ 8.9%€89,822▼ 2.1%€88,298▼ 1.7%€73,146▼ 17.2%€504,452▲ 590%
Total assets€224,967▲ 4.0%€223,200▼ 0.8%€183,509▼ 17.8%€167,913▼ 8.5%€570,766▲ 240%
Debt€133,232▲ 0.9%€133,378▲ 0.1%€95,210▼ 28.6%€94,766▼ 0.5%€66,314▼ 30.0%
Working capital€34,838▲ 381%€52,743▲ 51.4%€40,996▼ 22.3%€21,796▼ 46.8%€505,509▲ 2,219%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €627,576 after a loss of €14,978 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €570,766
Fixed assets
€28,943 ▼ 79.6%
Current assets
€541,823 ▲ 1,985%
Equity and liabilities €570,766
Equity
€504,452 ▲ 590%
Debt
€66,314 ▼ 30.0%
Debt's share of the balance-sheet total falls from 56.4% to 11.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€630,892▲
2024 · €7,856
Cash flow
€434,622▲
2024 · €7,682
Current ratio
14.92▲
2024 · 6.21
Debt to equity
0.13▼
2024 · 1.30
ROE
85.5%▲
2024 · -20.7%
ROA
75.6%▲
2024 · -9.0%
Interest coverage
14019.83▲
2024 · 45.04
Debt ≤ 1 year
€36,314▲
2024 · €4,186
Debt > 1 year
€30,000▼
2024 · €90,000
Income taxes
€196,225
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.6% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 20,129 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,904 | €19,819 | €20,367 | €22,834 | €3,316 | ▼ 85.5% |
| Other operating charges640/8 | €2,510 | €2,412 | €6,397 | €2,731 | €3,002 | ▲ 9.9% |
| Gross operating margin9900 | €35,823 | €35,674 | €31,849 | €10,588 | €633,895 | ▲ 5,887% |
| Operating profit (loss)9901 | €12,410 | €13,444 | €5,085 | -€14,978 | €627,576 | ▲ 4,290% |
| Financial income75/76B | - | €0 | - | - | €0 | - |
| Recurring financial income75 | - | €0 | - | - | €0 | - |
| Financial charges65/66B | €1,534 | €1,575 | €1,124 | €174 | €45 | ▼ 74.2% |
| Recurring financial charges65 | €1,534 | €1,575 | €1,124 | €174 | €45 | ▼ 74.2% |
| Profit (loss) for the period before taxes9903 | €10,875 | €11,869 | €3,962 | -€15,152 | €627,531 | ▲ 4,242% |
| Income taxes67/77 | €3,357 | €3,776 | €1,261 | - | €196,225 | - |
| Profit (loss) for the period9904 | €7,518 | €8,092 | €2,701 | -€15,152 | €431,306 | ▲ 2,947% |
| Profit (loss) for the period to be appropriated9905 | €7,518 | €8,092 | €2,701 | -€15,152 | €431,306 | ▲ 2,947% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €224,967 | €223,200 | €183,509 | €167,913 | €570,766 | ▲ 240% |
| Fixed assets21/28 | €150,198 | €130,379 | €140,602 | €141,931 | €28,943 | ▼ 79.6% |
| Tangible fixed assets22/27 | €150,198 | €130,379 | €140,602 | €141,931 | €28,943 | ▼ 79.6% |
| Land and buildings22 | €50,537 | €47,659 | €44,780 | €41,901 | €13,007 | ▼ 69.0% |
| Other tangible fixed assets26 | €99,660 | €82,720 | €95,822 | €100,030 | €15,936 | ▼ 84.1% |
| Current assets29/58 | €74,770 | €92,821 | €42,907 | €25,981 | €541,823 | ▲ 1,985% |
| Amounts receivable within one year40/41 | €748 | €320 | €6,011 | €2,977 | - | - |
| Trade receivables40 | €748 | €320 | €3,272 | €477 | - | - |
| Other amounts receivable41 | - | - | €2,739 | €2,500 | - | - |
| Cash at bank and in hand54/58 | €73,771 | €91,270 | €36,599 | €22,690 | €540,091 | ▲ 2,280% |
| Deferred charges and accrued income490/1 | €251 | €1,231 | €297 | €314 | €1,732 | ▲ 452% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €224,967 | €223,200 | €183,509 | €167,913 | €570,766 | ▲ 240% |
| Equity10/15 | €91,735 | €89,822 | €88,298 | €73,146 | €504,452 | ▲ 590% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €73,143 | €71,230 | €69,706 | €54,554 | €485,860 | ▲ 791% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | €71,284 | €69,371 | €69,706 | €54,554 | €485,860 | ▲ 791% |
| Amounts payable17/49 | €133,232 | €133,378 | €95,210 | €94,766 | €66,314 | ▼ 30.0% |
| Amounts payable after more than one year17 | €93,300 | €93,300 | €93,300 | €90,000 | €30,000 | ▼ 66.7% |
| Other amounts payable178/9 | €93,300 | €93,300 | €93,300 | €90,000 | €30,000 | ▼ 66.7% |
| Amounts payable within one year42/48 | €39,932 | €40,078 | €1,910 | €4,186 | €36,314 | ▲ 768% |
| Trade debts44 | €361 | - | €826 | - | - | - |
| Suppliers440/4 | €361 | - | €826 | - | - | - |
| Taxes, remuneration and social security45 | €857 | €276 | - | - | €36,225 | - |
| Taxes450/3 | €857 | €276 | - | - | €36,225 | - |
| Other amounts payable47/48 | €38,715 | €39,802 | €1,085 | €4,186 | €88 | ▼ 97.9% |
| Accrued charges and deferred income492/3 | - | - | - | €581 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,518 | €8,092 | €2,701 | -€15,152 | €431,306 | ▲ 2,947% |
| + Depreciation and write-downs630 | €20,904 | €19,819 | €20,367 | €22,834 | €3,316 | ▼ 85.5% |
| Operating cash flow (approximation) | €28,423 | €27,911 | €23,068 | €7,682 | €434,622 | ▲ 5,558% |
| Investment in fixed assets (approximation) | - | €0 | -€30,590 | -€24,163 | €109,672 | ▲ 554% |
| Change in cash | - | €17,499 | -€54,672 | -€13,908 | €517,401 | ▲ 3,820% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €431,306
Net result €431,306 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 14.92
Current ratio from 6.21 to 14.92.
31-12
Financial
Equity above €500,000Eq €504,452 ▲590%
Equity rises from €73,146 to €504,452.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€15,152
Net result drops to -€15,152, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Liquidity times 10current ratio 22.46
Current ratio from 2.32 to 22.46; short-term debt falls from €40,078 to €1,910.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €7,518
Net result €7,518 after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-07
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.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Hoogstraten · 1 establishment unit since 1999
Ground area
1,625 m²
Building footprint
1,119 m²
Volume, LiDAR
3,894 m³
Parcel 13022E0002/00A000, Flanders · tallest building 4.9 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Schuivenoord 17, 2328 Hoogstraten
since 19992.090.842.522
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13022E0002/00A000 | Flanders | 1,625 m² | 1 · 1,119 m² | 4.9 m · 1 fl. |
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.
Identification & contact
Identification
Legal formPrivate limited company
Founded17-02-1999
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.