PaceSetters
ActiveSummary
PaceSetters has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €285,787 and a net result of -€68,456. Equity is shrinking by about 15% per year across the filed financial years. Its solvency ranks better than 95% of 1,672 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, full format
Turnover
€42,900▼ 79.5%
2021 · €209,317
EBIT margin
-18.7%▼ 256.9pp
2021 · 238.2%
Net result
-€68,456▼ 87.3%
2024 · -€36,544
Working capital
€60,073▼ 83.0%
2024 · €354,243
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €7,826 in 2025 against €41,711 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.04m
2022
Operating result-€0.008m
2025
Net result-€0.07m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.3m
2025
Equity€0.3m
2025
Debt€0.003m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.06m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-18.7%
2022
Return on assets (ROA)-23.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency98.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio18.36
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)4
2021
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€4.1m-€2.7m▼ 32.6%€2.8m▲ 3.1%€0.2m▼ 92.6%€0.04m▼ 79.5%
Operating result€1.0m-€0.1m▼ 85.9%€0.5m▲ 254%€0.5m▲ 0.3%-€0.008m€0.01m-€0.04m-€0.008m▲ 81.2%
Net result€0.6m--€0.2m€0.6mabove the sector's middle half€2.4mabove the sector's middle half▲ 272%-€0.006mbelow the sector's middle half€0.02mwithin the sector's middle half-€0.04mbelow the sector's middle half-€0.07mbelow the sector's middle half▼ 87.3%
EBIT margin24.4%-5.1%▼ 19.2pp17.5%▲ 12.4pp238.2%▲ 220.6pp-18.7%▼ 256.9pp
Equity€1.0m-€0.7m▼ 23.2%€1.4mabove the sector's middle half▲ 88.0%€0.4mwithin the sector's middle half▼ 72.9%€0.4mwithin the sector's middle half▼ 1.5%€0.4mwithin the sector's middle half▲ 6.3%€0.4mwithin the sector's middle half▼ 9.4%€0.3mwithin the sector's middle half▼ 19.3%
Total assets€3.0m-€1.7m▼ 44.7%€2.2mabove the sector's middle half▲ 30.0%€4.1mabove the sector's middle half▲ 86.1%€0.4mwithin the sector's middle half▼ 90.2%€0.4mwithin the sector's middle half▼ 1.4%€0.4mwithin the sector's middle half▼ 7.6%€0.3mbelow the sector's middle half▼ 20.5%
Debt€2.1m-€0.9m▼ 54.5%€0.8m▼ 14.9%€3.7m▲ 358%€0.03m▼ 99.1%€0.003m▼ 91.0%€0.01m▲ 237%€0.003m▼ 64.0%
Working capital€0.5m-€0.5m▲ 16.3%€1.2mabove the sector's middle half▲ 124%€0.4mwithin the sector's middle half▼ 68.7%€0.4mwithin the sector's middle half▼ 1.6%€0.4mwithin the sector's middle half▲ 6.3%€0.4mwithin the sector's middle half▼ 9.4%€0.06mwithin the sector's middle half▼ 83.0%
Solvency31.4%-43.6%▲ 12.2pp63.1%within the sector's middle half▲ 19.5pp9.2%below the sector's middle half▼ 53.9pp92.1%above the sector's middle half▲ 82.9pp99.3%above the sector's middle half▲ 7.2pp97.4%above the sector's middle half▼ 1.9pp98.8%above the sector's middle half▲ 1.4pp
Current ratio1.22-1.56▲ 0.342.48within the sector's middle half▲ 0.921.10within the sector's middle half▼ 1.3812.63above the sector's middle half▲ 11.5337.83above the sector's middle half18.36above the sector's middle half▼ 19.47
Return on assets (ROA)20.9%--13.2%▼ 34.0pp29.5%above the sector's middle half▲ 42.7pp59.0%above the sector's middle half▲ 29.5pp-1.4%below the sector's middle half▼ 60.5pp5.9%within the sector's middle half▲ 7.3pp-10.0%below the sector's middle half▼ 15.9pp-23.7%below the sector's middle half▼ 13.6pp
Staff (FTE)15.8-11.7▼ 25.9%5.8within the sector's middle half▼ 50.4%4within the sector's middle half▼ 31.0%
above
within
below
the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €289,247
Fixed assets
€225,714
Current assets
€63,532
Equity and liabilities €289,247
Equity
€285,787 ▼ 19.3%
Debt
€3,460 ▼ 64.0%
Debt's share of the balance-sheet total falls from 2.6% to 1.2%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.03
ROE
-24.0%▼
2024 · -10.3%
Debt ≤ 1 year
€3,460▼
2024 · €9,617
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €4.1m | €2.7m | €2.8m | €0.2m | €0.04m | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €0.002m | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.2m | €0.05m | €0.01m | €0.01m | €0.007m | ▼ 36.5% |
| Remuneration, social security and pensions62 | - | - | - | €0.02m | - | €487 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.02m | €0.02m | €0.005m | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€410 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.002m | €0.001m | €0.001m | ▲ 11.3% |
| Non-recurring operating charges66A | - | - | - | €0.1m | - | - | €0.03m | - | - |
| Gross operating margin9900 | - | - | €0.9m | €0.7m | -€0.007m | €0.01m | -€0.01m | -€0.007m | ▲ 36.5% |
| Operating profit (loss)9901 | €1.0m | €0.1m | €0.5m | €0.5m | -€0.008m | €0.01m | -€0.04m | -€0.008m | ▲ 81.2% |
| Financial income75/76B | - | - | - | €2.0m | €0.005m | €0.01m | €0.01m | €0.002m | ▼ 78.4% |
| Recurring financial income75 | - | €246 | €0.001m | €0.003m | €0.005m | €0.01m | €0.01m | €0.002m | ▼ 78.4% |
| Non-recurring financial income76B | - | - | - | €2.0m | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.001m | €0.001m | €94 | €104 | €0.06m | ▲ 60,308% |
| Recurring financial charges65 | €0.03m | €0.03m | €0.004m | €0.001m | €0.001m | €94 | €104 | €106 | ▲ 1.7% |
| Debt charges650 | €0.03m | €0.03m | - | - | - | - | - | - | - |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €0.06m | - |
| Profit (loss) for the period before taxes9903 | €1.0m | -€0.2m | €0.8m | €2.5m | -€0.004m | €0.02m | -€0.03m | -€0.07m | ▼ 114% |
| Income taxes67/77 | €0.3m | €0.05m | €0.1m | €0.1m | €0.002m | - | €0.004m | - | - |
| Profit (loss) for the period9904 | €0.6m | -€0.2m | €0.6m | €2.4m | -€0.006m | €0.02m | -€0.04m | -€0.07m | ▼ 87.3% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €0.2m | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | €0.1m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.6m | -€0.2m | €0.6m | €2.3m | -€0.006m | €0.02m | €0.2m | -€0.07m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.0m | €1.7m | €2.2m | €4.1m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 20.5% |
| Formation expenses20 | - | €0.002m | €0.001m | - | - | - | - | - | - |
| Fixed assets21/28 | €0.5m | €0.2m | €0.2m | - | - | - | - | €0.2m | - |
| Tangible fixed assets22/27 | €0.06m | €0.05m | €0.03m | - | - | - | - | - | - |
| Financial fixed assets28 | €0.4m | €0.1m | €0.1m | - | - | - | - | €0.2m | - |
| Current assets29/58 | €2.5m | €1.5m | €2.0m | €4.1m | €0.4m | €0.4m | €0.4m | €0.06m | ▼ 82.5% |
| Amounts receivable within one year40/41 | €2.3m | €1.3m | €1.9m | €3.9m | €0.4m | €0.4m | €0.4m | €0.06m | ▼ 83.4% |
| Trade receivables40 | - | - | - | €0.03m | €111 | €0.008m | €0.008m | €0.001m | ▼ 87.1% |
| Other amounts receivable41 | - | - | - | €3.9m | €0.4m | €0.3m | €0.4m | €0.06m | ▼ 83.4% |
| Cash at bank and in hand54/58 | €0.03m | €0.01m | €0.01m | €0.07m | €0.005m | €0.005m | €0.005m | €0.004m | ▼ 18.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.03m | €0.03m | - | €6 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.0m | €1.7m | €2.2m | €4.1m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 20.5% |
| Equity10/15 | €1.0m | €0.7m | €1.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 19.3% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.9m | €0.7m | €1.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | €0.2m | - | - | - |
| Distributable reserves133 | - | - | - | €0.1m | €0.09m | €0.1m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | €0.001m | -€425 | €0.002m | €65 | €68 | €96 | €53 | -€0.07m | - |
| Provisions and deferred taxes16 | - | - | €410 | €410 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €410 | - | - | - | - | - |
| Pensions and similar obligations160 | - | - | - | €410 | - | - | - | - | - |
| Amounts payable17/49 | €2.1m | €0.9m | €0.8m | €3.7m | €0.03m | €0.003m | €0.01m | €0.003m | ▼ 64.0% |
| Amounts payable within one year42/48 | €2.1m | €0.9m | €0.8m | €3.7m | €0.03m | €0.003m | €0.01m | €0.003m | ▼ 64.0% |
| Trade debts44 | €0.8m | €0.5m | €0.6m | €0.1m | €0.03m | €0.003m | €0.005m | €0.003m | ▼ 32.6% |
| Suppliers440/4 | - | - | - | €0.1m | €0.03m | €0.003m | €0.005m | €0.003m | ▼ 32.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | - | - | €0.004m | - | - |
| Taxes450/3 | - | - | - | €0.1m | - | - | €0.004m | - | - |
| Remuneration and social security454/9 | - | - | - | €0.002m | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €3.4m | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.6m | -€0.2m | €0.6m | €2.4m | -€0.006m | €0.02m | -€0.04m | -€0.07m | ▼ 87.3% |
| + Depreciation and write-downs630 | €0.01m | €0.02m | €0.02m | €0.005m | - | - | - | - | - |
| Operating cash flow (approximation) | €0.6m | -€0.2m | €0.7m | €2.4m | -€0.006m | €0.02m | -€0.04m | -€0.07m | ▼ 87.3% |
| Investment in fixed assets (approximation) | - | €0.3m | -€443 | - | - | - | - | - | - |
| Change in cash | - | -€0.02m | €0.001m | €0.06m | -€0.07m | -€0 | -€9 | -€0.001m | ▼ 10,326% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00344017 |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00251033 |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00263303 |
| 31-12-2022 | abbreviated format | 01-08-2023 | 2023-00303731 |
| 31-12-2021 | abbreviated format | 24-08-2022 | 2022-20311638 |
| 31-12-2020 | abbreviated format | 19-08-2021 | 2021-50600042 |
| 31-12-2019 | full format | 14-07-2020 | 2020-30000230 |
| 31-12-2018 | full format | 19-08-2019 | 2019-47500177 |
| 31-12-2017 | full format | 16-07-2018 | 2018-33600298 |
| 31-12-2016 | full format | 03-08-2017 | 2017-41000257 |
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Of the 29,849 active companies whose main activity is computer consultancy and computer facilities management (NACE 62200), figures are known for 18,795. 14,097 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.