PACE Team · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of PACE Team is 0.4% (very low). The 2023 annual accounts show equity of €213k and a net result of €-4k. Equity is shrinking by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 67% of 287 sector peers (fiscal year 2023). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 6 annual accounts.

Signals

1 signal · with evidence

Persistent losses

Two consecutive loss-making years (2022 and 2023); equity fell accordingly. May indicate structural pressure on profitability.

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 396 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 13-01-2025, 166 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	13-01-2025	166 d late	2025-00003747
31-12-2022	31-07-2023	13-01-2025	532 d late	2025-00003739
31-12-2021	31-07-2022	25-12-2022	147 d late	2022-20546234
31-12-2020	31-07-2021	25-11-2021	117 d late	2021-78300154
31-12-2019	31-07-2020	19-12-2020	141 d late	2020-76200432
31-12-2018	31-07-2019	03-12-2019	125 d late	2019-75200162
31-12-2017	31-07-2018	21-09-2018	52 d late	2018-65500576
31-12-2016	31-07-2017	29-09-2017	60 d late	2017-65700324
31-12-2015	31-07-2016	30-08-2016	30 d late	2016-54600304
31-12-2014	31-07-2015	19-08-2015	19 d late	2015-44100116

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Established

Founded in 2011, 15 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.4% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Annual accounts: weaker financial profile +Multiple establishment units +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€47k+130.2%

EBIT margin-4.0%+344.0pp

Net result€-4k+94.2%

Working capital€76k-24.5%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 13-01-2025 with the NBB · fiscal year 2023 · volledig

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Net result: growth of ~4.6%/year over 6 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 62, Computer programming & consultancy · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	60.5%	40.5%	better than 67% of 287 sector peers
Net result	€-4k	€26k	better than 22% of 286 sector peers
Equity	€213k	€67k	better than 70% of 287 sector peers
Gross operating margin	€19k	€71k	better than 20% of 240 sector peers
Total assets	€352k	€197k	better than 58% of 287 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P67

Stable position over 2020-2023 · n=107-287

Net result P22

Stable position over 2020-2023 · n=107-286

Equity P70

Improving position over 2020-2023 · n=107-287

Gross operating margin P20

Stable position over 2020-2023 · n=80-240

Describes the position versus peers, not a forecast.

Revenue

€47k

+130.2% 18-23

EBITDA

€19k

- 18-23

Net profit

€-4k

+94.2% 18-23

Cash flow

€16k

- 18-23

Total assets

€352k

-2.3% 18-23

Equity

€213k

-1.9% 18-23

Working capital

€76k

-24.5% 18-23

Employees (FTE)

3

- 18-23

Show 12 other metrics

Debt

€139k

-3.0% 18-23

Debt ≤ 1y

€139k

-3.0% 18-23

Debt > 1y

€12k

-54.1% 18-23

Current ratio

1.55

-9.2% 18-23

Quick ratio

1.55

-9.2% 18-23

Solvency

60.5%

+0.4% 18-23

Debt / equity

0.65

-1.0% 18-23

ROE

-2.0%

+94.1% 18-23

ROA

-1.2%

+94.1% 18-23

Net margin

-8.9%

+97.5% 18-23

EBITDA margin

39.5%

- 18-23

Interest coverage

7.93

- 18-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	volledig
Revenue	€47k
EBITDA	€19k
Net profit	€-4k
Cash flow	€16k
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€352k
Equity	€213k
Debt	€139k
of which ≤ 1y	€139k
of which > 1y	-
Working capital	€76k
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	1.55
Quick ratio	1.55
Working capital ratio	21.8%
Solvency	60.5%
Debt / equity	0.65
Long-term debt ratio	-
Interest coverage	7.93
Gross margin	40.4%
Net margin	-8.9%
ROA	-1.2%
ROE	-2.0%
EBITDA margin	39.5%
Days sales outstanding	192d
Days payable outstanding	239d
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2023

Assets

Fixed assets €136k · 38.7% Current assets €215k · 61.3%

Equity & liabilities

Equity €213k · 60.5% Debt €139k · 39.6%

Full annual accounts (21 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€352k
Fixed assets	21/28	€136k
Intangible fixed assets	21	€132k
Financial fixed assets	28	€4k
Current assets	29/58	€215k
Amounts receivable within one year	40/41	€25k
Cash & bank	54/58	€40k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€352k
Equity	10/15	€213k
Contributions / capital	10/11	€362k
Accumulated profits (losses)	14	€-234k
Amounts payable	17/49	€139k
Amounts payable within one year	42/48	€139k
Trade debts payable within one year	44	€18k
Income statement
Turnover	70	€47k
Gross operating margin	9900	€19k
Operating result	9901	€-2k
Financial charges	65	€2k
Result before taxes	9903	€-4k
Net result for the period	9904	€-4k
Result to be appropriated	9905	€-4k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

86 / 100 Excellent

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

124 companies at this address See who is registered here

Establishment units

2 locations

Mica Systems

Vanderkinderestraat 467, 1180 UkkelDetailhandel in computers, randapparatuur en software in gespecialiseerde winkels

since 20112.199.204.784

Mica Systems

Avenue de l'Artisanat 2, 1420 Braine-l'AlleudDetailhandel in computers, randapparatuur en software in gespecialiseerde winkels

since 20132.219.880.830

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels3

Ground area5.1 ha

Buildings3

Building footprint1.8 ha

Volume (LiDAR)123,821 m³

Tallest building34.9 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 2 (66.7%) Brussels 1 (33.3%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25386B0152/00N000	Wallonia	4.0 ha	1 · 1.2 ha	34.9 m · 2 fl.
21612C0004/00D047	Brussels	9,763 m²	1 · 5,289 m²	19.4 m · 1 fl.
25014N0027/00K000	Wallonia	1,159 m²	1 · 489 m²	13.4 m · 2 fl.

Methodology

via registered seat: 1 · via establishment units: 2

3 of 3 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 6 acts read

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.