PACIFICATION CONSTRUCTION
ActiveSummary
PACIFICATION CONSTRUCTION has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €259k and a net result of €-200k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▲+6
Solvency27▼-2
Growth42▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity ample (current ratio 3.04 against 1.33 in 2024; short-term debt: 32.9% and cash: 2.9% of total assets), but 98.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
1.7%
Return on assets
-1.3%
Age of the figures
9 mo
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-200k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 4556 sector peers (2025).
NBB · sector comparisonPosition among 4556 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 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
4 d late
2024
31 d early
2023
9 d late
2022
9 d late
2021
2 d late
2020
25 d late
2019
on the day
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.46M
2024 · €0
2018: €3.12M
2019: €351k▼ -88.7% vs 2018
2020: €354k▲ +1.0% vs 2019
2021: €150k▼ -57.7% vs 2020
2022: €100k▼ -33.1% vs 2021
2023: €35.01M▲ +34777% vs 2022highest in 8 years
2024: €0▼ -100% vs 2023lowest in 8 years
2025: €2.46M
2018 → 2025
EBIT margin
-3.4%▼ 12.4pp
2023 · 9.0%
2018: 16.6%
2019: -127.1%▼ -863% vs 2018lowest value
2020: 37.7%▲ +130% vs 2019
2021: 175.0%▲ +365% vs 2020
2022: 261.6%▲ +49.4% vs 2021highest value
2023: 9.0%▼ -96.5% vs 2022
2025: -3.4%
2018 → 2025
Net result
€-200k▲ 52.2%
2024 · €-418k
2018: €420k
2019: €-481k▼ -215% vs 2018lowest in 8 years
2020: €4k▲ +101% vs 2019
2021: €-73k▼ -1890% vs 2020
2022: €34k▲ +146% vs 2021
2023: €2.37M▲ +6952% vs 2022highest in 8 years
2024: €-418k▼ -118% vs 2023
2025: €-200k▲ +52.2% vs 2024
2018 → 2025
Working capital
€9.95M▲ 310%
2024 · €2.42M
2018: €2.35M
2019: €2.49M▲ +5.6% vs 2018
2020: €4.21M▲ +69.3% vs 2019
2021: €2.48M▼ -41.1% vs 2020
2022: €-1.60M▼ -164% vs 2021lowest in 8 years
2023: €951k▲ +160% vs 2022
2024: €2.42M▲ +155% vs 2023
2025: €9.95M▲ +310% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€150k-€100k▼ 33.1%€35.01M▲ 34,777%€0▼ 100%€2.46M
2021: €150k
2022: €100k▼ -33.1% vs 2021
2023: €35.01M▲ +34777% vs 2022highest in 5 years
2024: €0▼ -100% vs 2023lowest in 5 years
2025: €2.46M
Equity€-529k-€-496k▲ 6.4%€1.88M€459k▼ 75.6%€259k▼ 43.5%
2021: €-529klowest in 5 years
2022: €-496k▲ +6.4% vs 2021
2023: €1.88M▲ +479% vs 2022highest in 5 years
2024: €459k▼ -75.6% vs 2023
2025: €259k▼ -43.5% vs 2024
Operating result€263k-€263k=€3.16M▲ 1,105%€-398k€-83k▲ 79.1%
2021: €263k
2022: €263k● +0.0% vs 2021
2023: €3.16M▲ +1105% vs 2022highest in 5 years
2024: €-398k▼ -113% vs 2023lowest in 5 years
2025: €-83k▲ +79.1% vs 2024
Net result€-73k-€34k€2.37M▲ 6,952%€-418k€-200k▲ 52.2%
2021: €-73k
2022: €34k▲ +146% vs 2021
2023: €2.37M▲ +6952% vs 2022highest in 5 years
2024: €-418k▼ -118% vs 2023lowest in 5 years
2025: €-200k▲ +52.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €83k in 2025 against €398k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €14.83M
Equity
€259k ▼ 43.5%
Debt
€14.57M ▲ 45.8%
Debt's share of the balance-sheet total rises from 95.6% to 98.3%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
3.04▲
2024 · 1.33
Quick ratio
0.57▲
2024 · 0.09
Debt to equity
56.25▲
2024 · 21.78
ROE
-77.1%▲
2024 · -91.1%
ROA
-1.3%▲
2024 · -4.0%
Debt ≤ 1 year
€4.89M▼
2024 · €7.27M
Debt > 1 year
€9.52M▲
2024 · €2.67M
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 · 2025 against 2024 · 67 lines
Balance sheet
Code20242025
Assets
Total assets20/58€10.45M€14.83M▲
Fixed assets21/28€761k€0▼
Financial fixed assets28€761k€0▼
Affiliated companies280/1€360k€0▼
Amounts receivable281€360k€0▼
Companies linked by participating interests282/3€400k€0▼
Amounts receivable283€400k€0▼
Current assets29/58€9.69M€14.83M▲
Stocks and contracts in progress3€9.06M€12.04M▲
Stocks30/36€9.06M€12.04M▲
Work in progress32€9.06M€12.04M▲
Amounts receivable within one year40/41€429k€2.31M▲
Trade receivables40€285k€2.31M▲
Other amounts receivable41€145k€0▼
Cash at bank and in hand54/58€160k€430k▲
Deferred charges and accrued income490/1€47k€54k▲
Equity and liabilities
Total equity and liabilities10/49€10.45M€14.83M▲
Equity10/15€459k€259k▼
Contributions10/11€19k€19k=
Reserves13€440k€241k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€438k€239k▼
Amounts payable17/49€10.00M€14.57M▲
Amounts payable after more than one year17€2.67M€9.52M▲
Financial debts170/4€2.67M€9.52M▲
Other loans174€2.67M€9.52M▲
Amounts payable within one year42/48€7.27M€4.89M▼
Current portion of amounts payable after more than one year42€0-
Trade debts44€6.06M€981k▼
Suppliers440/4€6.06M€981k▼
Advances received on contracts in progress46€1.21M€3.90M▲
Taxes, remuneration and social security45-€542
Taxes450/3-€542
Accrued charges and deferred income492/3€54k€171k▲
Income statement
Code20242025
Operating income70/76A€4.03M€5.48M▲
Turnover70€0€2.46M▲
Change in stocks of work in progress, finished goods and contracts in progress71€4.01M€2.99M▼
Other operating income74€22k€28k▲
Operating charges60/66A€4.43M€5.56M▲
Goods for resale, raw materials and consumables60€3.92M€5.29M▲
Purchases600/8€3.92M€5.29M▲
Services and other goods61€482k€270k▼
Other operating charges640/8€6k€5k▼
Non-recurring operating charges66A€18k€0▼
Operating profit (loss)9901€-398k€-83k▲
Financial income75/76B€51k€6k▼
Recurring financial income75€51k€6k▼
Income from financial fixed assets750€31k€6k▼
Income from current assets751€20k€0▼
Financial charges65/66B€70k€123k▲
Recurring financial charges65€70k€123k▲
Debt charges650€54k€118k▲
Other financial charges652/9€17k€5k▼
Profit (loss) for the period before taxes9903€-418k€-200k▲
Income taxes67/77€0-
Taxes670/3€0-
Profit (loss) for the period9904€-418k€-200k▲
Profit (loss) for the period to be appropriated9905€-418k€-200k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-418k€-200k▲
Profit (loss) brought forward from the previous period14P€0-
Transfer from equity791/2€1.42M€200k▼
From reserves792€1.42M€200k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€1.00M€0▼
Return on contributions (dividend)694€1.00M€0▼
The notes to these accounts (78 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €6.99M | €10.87M | €16.26M | €4.03M | €5.48M | ▲ 36.0% |
| Turnover70 | €150k | €100k | €35.01M | €0 | €2.46M | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €6.81M | €10.59M | €-18.76M | €4.01M | €2.99M | ▼ 25.4% |
| Other operating income74 | €1k | €159k | €11k | €22k | €28k | ▲ 27.3% |
| Non-recurring operating income76A | €36k | €29k | €0 | - | - | - |
| Operating charges60/66A | €6.73M | €10.61M | €13.09M | €4.43M | €5.56M | ▲ 25.7% |
| Goods for resale, raw materials and consumables60 | €6.65M | €10.50M | €12.80M | €3.92M | €5.29M | ▲ 34.8% |
| Purchases600/8 | €6.65M | €10.50M | €12.80M | €3.92M | €5.29M | ▲ 34.8% |
| Services and other goods61 | €79k | €79k | €80k | €482k | €270k | ▼ 43.9% |
| Other operating charges640/8 | €868 | €31k | €216k | €6k | €5k | ▼ 16.2% |
| Non-recurring operating charges66A | - | - | - | €18k | €0 | ▼ 100% |
| Operating profit (loss)9901 | €263k | €263k | €3.16M | €-398k | €-83k | ▲ 79.1% |
| Financial income75/76B | €14k | €4k | €71k | €51k | €6k | ▼ 87.2% |
| Recurring financial income75 | €14k | €4k | €71k | €51k | €6k | ▼ 87.2% |
| Income from financial fixed assets750 | €14k | €1k | €71k | €31k | €6k | ▼ 79.0% |
| Income from current assets751 | - | - | - | €20k | €0 | ▼ 100% |
| Other financial income752/9 | €10 | €3k | €0 | - | - | - |
| Financial charges65/66B | €350k | €231k | €64k | €70k | €123k | ▲ 75.2% |
| Recurring financial charges65 | €350k | €231k | €64k | €70k | €123k | ▲ 75.2% |
| Debt charges650 | €83k | €63k | €21k | €54k | €118k | ▲ 119% |
| Other financial charges652/9 | €267k | €168k | €44k | €17k | €5k | ▼ 68.0% |
| Profit (loss) for the period before taxes9903 | €-73k | €35k | €3.17M | €-418k | €-200k | ▲ 52.2% |
| Income taxes67/77 | €0 | €2k | €799k | €0 | - | - |
| Taxes670/3 | €0 | €2k | €799k | €0 | - | - |
| Profit (loss) for the period9904 | €-73k | €34k | €2.37M | €-418k | €-200k | ▲ 52.2% |
| Profit (loss) for the period to be appropriated9905 | €-73k | €34k | €2.37M | €-418k | €-200k | ▲ 52.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.69M | €29.04M | €6.96M | €10.45M | €14.83M | ▲ 41.9% |
| Fixed assets21/28 | €1.47M | €1.10M | €1.01M | €761k | €0 | ▼ 100% |
| Financial fixed assets28 | €1.47M | €1.10M | €1.01M | €761k | €0 | ▼ 100% |
| Affiliated companies280/1 | €1.07M | €700k | €612k | €360k | €0 | ▼ 100% |
| Amounts receivable281 | €1.07M | €700k | €612k | €360k | €0 | ▼ 100% |
| Companies linked by participating interests282/3 | €400k | €400k | €400k | €400k | €0 | ▼ 100% |
| Amounts receivable283 | €400k | €400k | €400k | €400k | €0 | ▼ 100% |
| Current assets29/58 | €14.22M | €27.94M | €5.94M | €9.69M | €14.83M | ▲ 53.0% |
| Stocks and contracts in progress3 | €13.23M | €23.81M | €5.05M | €9.06M | €12.04M | ▲ 32.9% |
| Stocks30/36 | €13.23M | €23.81M | €5.05M | €9.06M | €12.04M | ▲ 32.9% |
| Work in progress32 | €13.23M | €23.81M | €5.05M | €9.06M | €12.04M | ▲ 32.9% |
| Amounts receivable within one year40/41 | €361k | €2.28M | €672k | €429k | €2.31M | ▲ 438% |
| Trade receivables40 | €325k | €2.28M | €536k | €285k | €2.31M | ▲ 711% |
| Other amounts receivable41 | €36k | €0 | €136k | €145k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €624k | €1.84M | €203k | €160k | €430k | ▲ 169% |
| Deferred charges and accrued income490/1 | €12k | €490 | €18k | €47k | €54k | ▲ 13.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.69M | €29.04M | €6.96M | €10.45M | €14.83M | ▲ 41.9% |
| Equity10/15 | €-529k | €-496k | €1.88M | €459k | €259k | ▼ 43.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €1.86M | €440k | €241k | ▼ 45.4% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €458 | €458 | €1.86M | €438k | €239k | ▼ 45.6% |
| Profit (loss) carried forward14 | €-550k | €-517k | €0 | - | - | - |
| Amounts payable17/49 | €16.22M | €29.54M | €5.08M | €10.00M | €14.57M | ▲ 45.8% |
| Amounts payable after more than one year17 | €4.45M | €0 | €87k | €2.67M | €9.52M | ▲ 256% |
| Financial debts170/4 | €4.45M | €0 | €87k | €2.67M | €9.52M | ▲ 256% |
| Credit institutions173 | €4.45M | €0 | - | - | - | - |
| Other loans174 | €0 | - | €87k | €2.67M | €9.52M | ▲ 256% |
| Amounts payable within one year42/48 | €11.75M | €29.54M | €4.99M | €7.27M | €4.89M | ▼ 32.8% |
| Current portion of amounts payable after more than one year42 | - | - | €684k | €0 | - | - |
| Trade debts44 | €1.30M | €2.19M | €3.15M | €6.06M | €981k | ▼ 83.8% |
| Suppliers440/4 | €1.30M | €2.19M | €3.15M | €6.06M | €981k | ▼ 83.8% |
| Advances received on contracts in progress46 | €10.36M | €26.76M | €1.16M | €1.21M | €3.90M | ▲ 222% |
| Taxes, remuneration and social security45 | €78k | €581k | €0 | - | €542 | - |
| Taxes450/3 | €78k | €581k | €0 | - | €542 | - |
| Accrued charges and deferred income492/3 | €30k | €0 | €69 | €54k | €171k | ▲ 220% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-73k | €34k | €2.37M | €-418k | €-200k | ▲ 52.2% |
| Operating cash flow (approximation) | €-73k | €34k | €2.37M | €-418k | €-200k | ▲ 52.2% |
| Investment in fixed assets (approximation) | - | €368k | €88k | €252k | €761k | ▲ 202% |
| Change in cash | - | €1.22M | €-1.64M | €-43k | €270k | ▲ 732% |
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
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 4 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 3.04
Current ratio from 1.33 to 3.04; short-term debt falls from €7.27M to €4.89M.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 9 days late
2023
31-12
Financial
Highest result since 2018net €2.37M ▲6,952%
Operating result €3.16M, net result €2.37M, both a record.
31-12
Financial
Equity above €1MEq €1.88M
2 profitable years in a row build equity to €1.88M.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 9 days late
2022
31-12
Financial
Back to profitnet €34k
Net result €34k after one loss-making year.
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-481k
Net result drops to €-481k, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are 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, Sint-Pieters-Woluwe · 1 establishment unit since 2014
Ground area
3,436 m²
Building footprint
2,085 m²
Volume, LiDAR
36,789 m³
2 parcels, Brussels · tallest building 30.4 m, ±9 floors. Linked by address, not a title deed.
44
companies at this address
See who is registered here
1 establishment unit
Pacification Construction
since 20142.237.038.645
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21019A0075/00K000 | Brussels | 3,217 m² | 1 · 1,911 m² | 26.1 m · 7 fl. |
| 21807G0136/00C004 | Brussels | 219 m² | 1 · 174 m² | 30.4 m · 9 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,856 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
Founded29-04-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.