PABRUCO
ActiveSummary
PABRUCO has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €314k and a net result of €4k. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 32% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability39▼-32
Solvency62▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity short (current ratio 0.79 against 0.36 in 2023; short-term debt: 22.9% and cash: 2.8% of total assets), and 62.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
30 d late
2022
24 d late
2021
58 d late
2020
4 d late
2018
6 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€314k▲ 1.3%
2023 · €310k
2018: €220klowest value
2020: €284k
2021: €302k▲ +6.4% vs 2020
2022: €298k▼ -1.3% vs 2021
2023: €310k▲ +3.9% vs 2022
2024: €314k▲ +1.3% vs 2023highest value
2018 → 2024
Total assets
€845k▲ 11.8%
2023 · €755k
2018: €747k
2020: €667klowest value
2021: €825k▲ +23.6% vs 2020
2022: €797k▼ -3.4% vs 2021
2023: €755k▼ -5.2% vs 2022
2024: €845k▲ +11.8% vs 2023highest value
2018 → 2024
Net result
€4k▼ 66.4%
2023 · €12k
2018: €35khighest value
2020: €29k
2021: €28k▼ -5.7% vs 2020
2022: €-4k▼ -114% vs 2021lowest value
2023: €12k▲ +392% vs 2022
2024: €4k▼ -66.4% vs 2023
2018 → 2024
Working capital
€-41k▲ 26.6%
2023 · €-56k
2018: €-283klowest value
2020: €-216k
2021: €-233k▼ -7.8% vs 2020
2022: €-199k▲ +14.5% vs 2021
2023: €-56k▲ +71.8% vs 2022
2024: €-41k▲ +26.6% vs 2023highest value
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€284k-€302k▲ 6.4%€298k▼ 1.3%€310k▲ 3.9%€314k▲ 1.3%
2020: €284klowest in 5 years
2021: €302k▲ +6.4% vs 2020
2022: €298k▼ -1.3% vs 2021
2023: €310k▲ +3.9% vs 2022
2024: €314k▲ +1.3% vs 2023highest in 5 years
Operating result€34k-€41k▲ 18.6%€21k▼ 48.4%€24k▲ 14.9%€33k▲ 37.2%
2020: €34k
2021: €41k▲ +18.6% vs 2020highest in 5 years
2022: €21k▼ -48.4% vs 2021lowest in 5 years
2023: €24k▲ +14.9% vs 2022
2024: €33k▲ +37.2% vs 2023
Net result€29k-€28k▼ 5.7%€-4k€12k€4k▼ 66.4%
2020: €29khighest in 5 years
2021: €28k▼ -5.7% vs 2020
2022: €-4k▼ -114% vs 2021lowest in 5 years
2023: €12k▲ +392% vs 2022
2024: €4k▼ -66.4% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 37% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €845k
Fixed assets
€692k ▼ 4.3%
Current assets
€153k ▲ 380%
Equity and liabilities €845k
Equity
€314k ▲ 1.3%
Debt
€531k ▲ 19.2%
Debt's share of the balance-sheet total rises from 59.0% to 62.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€67k▲
2023 · €66k
Cash flow
€38k▼
2023 · €54k
Current ratio
0.79▲
2023 · 0.36
Debt to equity
1.69▲
2023 · 1.44
ROE
1.3%▼
2023 · 3.8%
ROA
0.5%▼
2023 · 1.5%
Interest coverage
2.30▼
2023 · 6.38
Debt ≤ 1 year
€194k▲
2023 · €88k
Debt > 1 year
€337k▼
2023 · €357k
Income taxes
€0▼
2023 · €2k
Staff costs
€6k=
2023 · €6k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 48 lines
Balance sheet
Code20232024
Assets
Total assets20/58€755k€845k▲
Fixed assets21/28€723k€692k▼
Tangible fixed assets22/27€723k€692k▼
Land and buildings22€700k€674k▼
Plant, machinery and equipment23-€1k
Furniture and vehicles24€23k€17k▼
Current assets29/58€32k€153k▲
Amounts receivable within one year40/41€17k€125k▲
Trade receivables40€15k€23k▲
Other amounts receivable41€2k€102k▲
Cash at bank and in hand54/58€11k€23k▲
Deferred charges and accrued income490/1€4k€4k=
Equity and liabilities
Total equity and liabilities10/49€755k€845k▲
Equity10/15€310k€314k▲
Contributions10/11€19k€19k=
Reserves13€331k€331k=
Non-distributable reserves130/1€63k€63k=
Reserves not available under the articles1311€63k€63k=
Distributable reserves133€268k€268k=
Profit (loss) carried forward14€-40k€-36k▲
Amounts payable17/49€445k€531k▲
Amounts payable after more than one year17€357k€337k▼
Financial debts170/4€357k€337k▼
Amounts payable within one year42/48€88k€194k▲
Current portion of amounts payable after more than one year42€2k€2k=
Trade debts44€2k€0▼
Suppliers440/4€2k€0▼
Taxes, remuneration and social security45€22k€16k▼
Taxes450/3€10k€16k▲
Remuneration and social security454/9€12k€0▼
Other amounts payable47/48€61k€176k▲
Income statement
Code20232024
Remuneration, social security and pensions62€6k€6k=
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€34k▼
Other operating charges640/8€9k€9k▲
Gross operating margin9900€80k€82k▲
Operating profit (loss)9901€24k€33k▲
Financial income75/76B€21€0▼
Recurring financial income75€21€0▼
Financial charges65/66B€10k€29k▲
Recurring financial charges65€10k€29k▲
Profit (loss) for the period before taxes9903€14k€4k▼
Income taxes67/77€2k€0▼
Profit (loss) for the period9904€12k€4k▼
Profit (loss) for the period to be appropriated9905€12k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€-36k▼
Profit (loss) brought forward from the previous period14P€-40k€-40k=
Transfer to equity691/2€12k€0▼
To other reserves6921€12k€0▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €10k | - | - | - | - |
| Remuneration, social security and pensions62 | - | €6k | €6k | €6k | €6k | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30k | €33k | €46k | €42k | €34k | ▼ 18.9% |
| Other operating charges640/8 | - | €8k | €8k | €9k | €9k | ▲ 7.5% |
| Gross operating margin9900 | €64k | €87k | €80k | €80k | €82k | ▲ 2.1% |
| Operating profit (loss)9901 | €34k | €41k | €21k | €24k | €33k | ▲ 37.2% |
| Financial income75/76B | - | €0 | €3 | €21 | €0 | ▼ 100% |
| Recurring financial income75 | - | €0 | €3 | €21 | €0 | ▼ 100% |
| Financial charges65/66B | - | €6k | €12k | €10k | €29k | ▲ 182% |
| Recurring financial charges65 | €5k | €6k | €12k | €10k | €29k | ▲ 182% |
| Profit (loss) for the period before taxes9903 | €29k | €35k | €9k | €14k | €4k | ▼ 71.6% |
| Income taxes67/77 | - | €7k | €13k | €2k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €29k | €28k | €-4k | €12k | €4k | ▼ 66.4% |
| Profit (loss) for the period to be appropriated9905 | €29k | €28k | €-4k | €12k | €4k | ▼ 66.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €667k | €825k | €797k | €755k | €845k | ▲ 11.8% |
| Fixed assets21/28 | €639k | €771k | €765k | €723k | €692k | ▼ 4.3% |
| Tangible fixed assets22/27 | €639k | €771k | €765k | €723k | €692k | ▼ 4.3% |
| Land and buildings22 | - | €771k | €736k | €700k | €674k | ▼ 3.8% |
| Plant, machinery and equipment23 | - | - | - | - | €1k | - |
| Furniture and vehicles24 | - | - | €30k | €23k | €17k | ▼ 27.5% |
| Current assets29/58 | €28k | €54k | €31k | €32k | €153k | ▲ 380% |
| Amounts receivable within one year40/41 | €9k | €38k | €21k | €17k | €125k | ▲ 625% |
| Trade receivables40 | - | €38k | €19k | €15k | €23k | ▲ 53.0% |
| Other amounts receivable41 | - | - | €1k | €2k | €102k | ▲ 4,639% |
| Cash at bank and in hand54/58 | €20k | €12k | €7k | €11k | €23k | ▲ 119% |
| Deferred charges and accrued income490/1 | - | €4k | €4k | €4k | €4k | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €667k | €825k | €797k | €755k | €845k | ▲ 11.8% |
| Equity10/15 | €284k | €302k | €298k | €310k | €314k | ▲ 1.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | - | €19k | €19k | - | - | - |
| Issued capital100 | - | €19k | €19k | - | - | - |
| Reserves13 | €218k | €319k | €319k | €331k | €331k | = |
| Non-distributable reserves130/1 | - | €63k | €63k | €63k | €63k | = |
| Legal reserve130 | - | €63k | €63k | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €63k | €63k | = |
| Distributable reserves133 | - | €256k | €256k | €268k | €268k | = |
| Profit (loss) carried forward14 | €47k | €-36k | €-40k | €-40k | €-36k | ▲ 9.9% |
| Provisions and deferred taxes16 | €10k | - | - | - | - | - |
| Amounts payable17/49 | €373k | €523k | €499k | €445k | €531k | ▲ 19.2% |
| Amounts payable after more than one year17 | €129k | €236k | €268k | €357k | €337k | ▼ 5.7% |
| Financial debts170/4 | - | €236k | €268k | €357k | €337k | ▼ 5.7% |
| Amounts payable within one year42/48 | €244k | €287k | €231k | €88k | €194k | ▲ 120% |
| Current portion of amounts payable after more than one year42 | - | €53k | €1k | €2k | €2k | = |
| Trade debts44 | €3k | €13k | €8k | €2k | €0 | ▼ 100% |
| Suppliers440/4 | - | €13k | €8k | €2k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €2k | €10k | €22k | €16k | ▼ 28.5% |
| Taxes450/3 | - | €2k | €3k | €10k | €16k | ▲ 62.0% |
| Remuneration and social security454/9 | - | - | €7k | €12k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €219k | €212k | €61k | €176k | ▲ 186% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29k | €28k | €-4k | €12k | €4k | ▼ 66.4% |
| + Depreciation and write-downs630 | €30k | €33k | €46k | €42k | €34k | ▼ 18.9% |
| Operating cash flow (approximation) | €59k | €60k | €42k | €54k | €38k | ▼ 29.2% |
| Investment in fixed assets (approximation) | - | €-165k | €-40k | €0 | €-3k | - |
| Change in cash | - | €-8k | €-5k | €4k | €13k | ▲ 236% |
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
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
31-12
Financial
Weakest financial yearnet €-4k
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 58 days late
2021
04-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 4 days late
2019
06-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 6 days late
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
01-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Aalter · 1 establishment unit since 2003
Ground area
1,475 m²
Building footprint
227 m²
Volume, LiDAR
1,454 m³
Parcel 44035B0078/00P000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
PABRUCO
since 20032.132.554.995
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44035B0078/00P000 | Flanders | 1,475 m² | 1 · 227 m² | 9.8 m · 2 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 37,877 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
Founded05-05-2003
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.