PACY
ActiveSummary
PACY has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €151,000 and a net result of €48,571. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 34% of 22,595 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
- Staff
- ≈ 2 FTE, estimated
- Equity
- €151,000
- Profit
- €48,571
Why 82raises riskLast filed accounts filed 31 days late; 1 of the last 3 lateSector: Retail trade (NACE 47)lowers riskSize: total assets €1.0mFounded in 2015Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro): better than 31% on solvency, 47% on liquidity, 41% on profitability and 85% on growth.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 35 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Equity above €150,000equity €151,000 ▲46.2%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00500800.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 72% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: 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).
Peer companies
Historical observationOf the 4,107 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 98.0% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 4,107 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €750 | - |
| Remuneration, social security and pensions62 | - | - | - | €73,370 | €81,599 | €83,672 | €91,032 | €91,886 | ▲ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,645 | €2,562 | €6,094 | €7,605 | €9,243 | €18,744 | €33,543 | €32,427 | ▼ 3.3% |
| Other operating charges640/8 | - | - | - | €957 | €527 | €384 | €387 | €998 | ▲ 158% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,156 | - | €1,822 | - |
| Gross operating margin9900 | €22,870 | €34,590 | €26,561 | €145,274 | €132,184 | €75,895 | €187,343 | €234,402 | ▲ 25.1% |
| Operating profit (loss)9901 | €17,240 | €1,474 | -€27,416 | €63,342 | €40,816 | -€29,061 | €62,380 | €107,269 | ▲ 72.0% |
| Financial income75/76B | - | - | - | €1,454 | €146 | €188 | €173 | €161 | ▼ 6.7% |
| Recurring financial income75 | €11 | €288 | €219 | €1,454 | €146 | €188 | €173 | €161 | ▼ 6.7% |
| Financial charges65/66B | - | - | - | €2,933 | €2,361 | €22,315 | €34,248 | €35,975 | ▲ 5.0% |
| Recurring financial charges65 | €2,198 | €1,673 | €4,362 | €2,933 | €2,361 | €22,315 | €34,248 | €35,975 | ▲ 5.0% |
| Profit (loss) for the period before taxes9903 | €15,053 | €89 | -€31,559 | €61,863 | €38,600 | -€51,188 | €28,305 | €71,456 | ▲ 152% |
| Income taxes67/77 | €1,455 | €770 | - | €4,493 | €14,435 | €143 | €162 | €22,885 | ▲ 141× |
| Profit (loss) for the period9904 | €13,598 | -€681 | -€31,559 | €57,370 | €24,166 | -€51,331 | €28,143 | €48,571 | ▲ 72.6% |
| Profit (loss) for the period to be appropriated9905 | €13,598 | -€681 | -€31,559 | €57,370 | €24,166 | -€51,331 | €28,143 | €48,571 | ▲ 72.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.05m | €0.04m | €0.1m | €0.2m | €0.2m | €1.1m | €1.0m | €1.0m | ▲ 4.4% |
| Fixed assets21/28 | €0.01m | €0.009m | €0.05m | €0.05m | €0.04m | €0.9m | €0.9m | €0.9m | ▼ 0.5% |
| Intangible fixed assets21 | €0.001m | €310 | €0.003m | €0.003m | €0.002m | - | - | - | - |
| Tangible fixed assets22/27 | €0.007m | €0.005m | €0.05m | €0.05m | €0.04m | €0.9m | €0.9m | €0.9m | ▼ 0.5% |
| Land and buildings22 | - | - | - | €389 | €462 | €0.9m | €0.9m | €0.8m | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €271 | €87 | - | €135 | €72 | ▼ 46.9% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.01m | €0.007m | €0.007m | €0.02m | ▲ 271% |
| Other tangible fixed assets26 | - | - | - | €0.04m | €0.03m | €0.03m | €0.02m | - | - |
| Assets under construction and advance payments27 | - | - | - | - | - | - | - | €0.02m | - |
| Financial fixed assets28 | €0.004m | €0.004m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.04m | €0.04m | €0.07m | €0.1m | €0.2m | €0.1m | €0.09m | €0.1m | ▲ 53.8% |
| Stocks and contracts in progress3 | €0.02m | €0.02m | €0.04m | €0.1m | €0.1m | €0.08m | €0.06m | €0.09m | ▲ 53.4% |
| Stocks30/36 | - | - | - | €0.1m | €0.1m | €0.08m | €0.06m | €0.09m | ▲ 53.4% |
| Amounts receivable within one year40/41 | €0.005m | €0.001m | €0.003m | €0.003m | €0.001m | €0.04m | €0.005m | €0.007m | ▲ 22.9% |
| Trade receivables40 | - | - | - | €0.003m | €0.001m | €0.04m | €0.005m | €0.003m | ▼ 44.9% |
| Other amounts receivable41 | - | - | - | - | - | €89 | €106 | €0.004m | ▲ 35× |
| Cash at bank and in hand54/58 | €0.01m | €0.01m | €0.03m | €0.02m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 56.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.004m | €0.002m | €0.006m | €0.01m | ▲ 79.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.05m | €0.04m | €0.1m | €0.2m | €0.2m | €1.1m | €1.0m | €1.0m | ▲ 4.4% |
| Equity10/15 | €0.009m | €0.008m | -€0.02m | €0.03m | €0.05m | €0.08m | €0.1m | €0.2m | ▲ 46.2% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.09m | €0.09m | €0.09m | = |
| Reserves13 | - | - | - | - | €0.02m | €0.02m | €0.02m | €0.06m | ▲ 163% |
| Distributable reserves133 | - | - | - | - | €0.02m | €0.02m | €0.02m | €0.06m | ▲ 163% |
| Profit (loss) carried forward14 | -€0.004m | -€0.004m | -€0.04m | €0.01m | €0.01m | -€0.04m | -€0.008m | - | - |
| Amounts payable17/49 | €0.04m | €0.04m | €0.1m | €0.1m | €0.2m | €1.0m | €0.9m | €0.9m | ▼ 0.5% |
| Amounts payable after more than one year17 | €0.01m | €0.01m | €0.05m | €0.04m | €0.02m | €0.7m | €0.7m | €0.7m | ▼ 3.2% |
| Financial debts170/4 | - | - | - | €0.04m | €0.02m | €0.7m | €0.7m | €0.7m | ▼ 3.2% |
| Amounts payable within one year42/48 | €0.02m | €0.03m | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 10.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.05m | €0.04m | €0.04m | ▼ 1.0% |
| Trade debts44 | €0.01m | €0.01m | €0.007m | €0.03m | €0.01m | €0.06m | €0.03m | €0.03m | ▼ 3.3% |
| Suppliers440/4 | - | - | - | €0.03m | €0.01m | €0.06m | €0.03m | €0.03m | ▼ 3.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.05m | €0.04m | €0.04m | €0.05m | ▲ 28.9% |
| Taxes450/3 | - | - | - | €0.01m | €0.04m | €0.03m | €0.02m | €0.03m | ▲ 35.0% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.02m | €0.009m | €0.02m | €0.02m | ▲ 19.8% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.06m | €0.09m | €0.06m | €0.07m | ▲ 14.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | €0.003m | €0.001m | €13 | ▼ 99.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,598 | -€681 | -€31,559 | €57,370 | €24,166 | -€51,331 | €28,143 | €48,571 | ▲ 72.6% |
| + Depreciation and write-downs630 | €4,645 | €2,562 | €6,094 | €7,605 | €9,243 | €18,744 | €33,543 | €32,427 | ▼ 3.3% |
| Operating cash flow (approximation) | €18,242 | €1,881 | -€25,465 | €64,975 | €33,409 | -€32,588 | €61,686 | €80,998 | ▲ 31.3% |
| Investment in fixed assets (approximation) | - | €0 | -€48,573 | -€7,548 | -€1,884 | -€906,795 | -€2,605 | -€28,057 | ▼ 977% |
| Change in cash | - | €2,629 | €12,265 | -€6,351 | -€5,184 | €5,363 | -€2,929 | €9,451 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00500800 |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00398250 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00449590 |
| 31-12-2022 | micro format | 09-10-2023 | 2023-00477728 |
| 31-12-2021 | micro format | 04-07-2022 | 2022-20124268 |
| 31-12-2020 | micro format | 30-09-2021 | 2021-69800180 |
| 31-12-2019 | micro format | 22-09-2020 | 2020-54400066 |
| 31-12-2018 | micro format | 28-06-2019 | 2019-23900293 |
| 31-12-2017 | micro format | 29-08-2018 | 2018-51500477 |
| 31-12-2016 | full format | 31-08-2017 | 2017-52700527 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Capital and shareholders
- 19-06-2023 Capital stated in the deed · 186 shares
Group and network
Connections & network
No directors read yet: 1 of 3 Gazette acts processed.
History
Acts, filings and financial milestones
19-06
Gazette deed
Legal-form change · Resignations & appointmentsCapital conversion · Reserve release · Amendment of the articles9 facts ▸
- General meeting, 16-05-2023
- Other provision, “mandat d’administrateur” (deed in French)
- Capital conversion, “article 39,§2,deuxième alinéa de la loi du 23-03-2019 introduisant le Code des sociétés et des associations et portant des dispositions diverses”, 01-01-2020 (deed in French)
- Reserve release, “suppression, rendre disponibles ces moyens pour distribution” (deed in French)
- Amendment of the articles
- Other provision, “exemplaire demeurera ci-annexé, rapport de l’administrateur justifiant la proposition de modification de l’objet” (deed in French)
- Purpose change
- Other provision, “1435 Mont-Saint-Guibert(Corbais),Grand'Route 15, éléments demeurant inchangés” (deed in French)
- Capital
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25020A0079/00H002 | Wallonia | 1,965 m² | 1 · 354 m² | - |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- PACY
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, peut établir par simple décision de l’organe d’administration des sièges administratifs,agences,ateliers,dépôts et…” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Nommés avec ou sans limitation de durée, si vacance par décès,démission ou autre cause et organe collégial,administrateurs restants ont…” (deed in French)“Représentant permanent, désignation et cessation soumises aux mêmes règles que mission en nom propre” (deed in French)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Friday of May at 11:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Outre causes légales, par assemblée générale conditions modifications statuts” (deed in French)1 more provision on this in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- One provision in the deed