Summary
PAD MANAGEMENT is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €194k and a net result of €94k. Equity is growing by ~92.9% per year across the filed fiscal years. Its solvency ranks better than 80% of 5547 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-07-2026, 15 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
15 d early
2024
7 d early
2023
5 d late
← 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, abbreviated schema
Equity
€194k▲ 93.1%
2024 · €101k
2023: €7klowest in 3 years
2024: €101k▲ +1276% vs 2023
2025: €194k▲ +93.1% vs 2024highest in 3 years
2023 → 2025
Net result
€94k▲ 0.4%
2024 · €93k
2023: €4klowest in 3 years
2024: €93k▲ +2064% vs 2023
2025: €94k▲ +0.4% vs 2024highest in 3 years
2023 → 2025
Total assets
€229k▲ 16.4%
2024 · €197k
2023: €149klowest in 3 years
2024: €197k▲ +32.4% vs 2023
2025: €229k▲ +16.4% vs 2024highest in 3 years
2023 → 2025
Solvency
84.7%▲ 33.7pp
2024 · 51.1%
2023: 4.9%lowest in 3 years
2024: 51.1%▲ +939% vs 2023
2025: 84.7%▲ +65.9% vs 2024highest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€7k-€101k▲ 1,276%€194k▲ 93.1%
2023: €7klowest in 3 years
2024: €101k▲ +1276% vs 2023
2025: €194k▲ +93.1% vs 2024highest in 3 years
Operating result€5k-€121k▲ 2,129%€123k▲ 2.3%
2023: €5klowest in 3 years
2024: €121k▲ +2129% vs 2023
2025: €123k▲ +2.3% vs 2024highest in 3 years
Net result€4k-€93k▲ 2,064%€94k▲ 0.4%
2023: €4klowest in 3 years
2024: €93k▲ +2064% vs 2023
2025: €94k▲ +0.4% vs 2024highest in 3 years
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 2% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €229k
Fixed assets
€141k ▲ 9.7%
Current assets
€88k ▲ 29.1%
Equity and liabilities €229k
Equity
€194k ▲ 93.1%
Debt
€35k ▼ 63.7%
Debt's share of the balance-sheet total falls from 48.9% to 15.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
48.2%▼
2024 · 92.7%
ROA
40.9%▼
2024 · 47.4%
Debt ≤ 1 year
€35k▼
2024 · €65k
Income taxes
€25k▲
2024 · €25k
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 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€197k€229k▲
Fixed assets21/28€129k€141k▲
Tangible fixed assets22/27€9k€21k▲
Land and buildings22-€12k
Furniture and vehicles24€9k€9k▲
Financial fixed assets28€120k€120k=
Current assets29/58€68k€88k▲
Amounts receivable after more than one year29€42k-
Trade receivables290€42k-
Amounts receivable within one year40/41-€48k
Trade receivables40-€39k
Other amounts receivable41-€9k
Cash at bank and in hand54/58€26k€40k▲
Equity and liabilities
Total equity and liabilities10/49€197k€229k▲
Equity10/15€101k€194k▲
Contributions10/11€3k€3k=
Profit (loss) carried forward14€98k€191k▲
Amounts payable17/49€96k€35k▼
Amounts payable after more than one year17€31k-
Financial debts170/4€31k-
Amounts payable within one year42/48€65k€35k▼
Current portion of amounts payable after more than one year42€20k€21k▲
Trade debts44€2k€247▼
Suppliers440/4€2k€247▼
Taxes, remuneration and social security45€32k€14k▼
Taxes450/3€32k€14k▼
Other amounts payable47/48€11k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€3k▲
Gross operating margin9900€122k€126k▲
Operating profit (loss)9901€121k€123k▲
Financial income75/76B-€17
Recurring financial income75-€17
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€118k€119k▲
Income taxes67/77€25k€25k▲
Profit (loss) for the period9904€93k€94k▲
Profit (loss) for the period to be appropriated9905€93k€94k▲
Appropriation of the result
Profit (loss) to be appropriated9906€98k€191k▲
Profit (loss) brought forward from the previous period14P€4k€98k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €1k | €3k | ▲ 85.0% |
| Gross operating margin9900 | €6k | €122k | €126k | ▲ 3.2% |
| Operating profit (loss)9901 | €5k | €121k | €123k | ▲ 2.3% |
| Financial income75/76B | - | - | €17 | - |
| Recurring financial income75 | - | - | €17 | - |
| Financial charges65/66B | €16 | €3k | €4k | ▲ 60.3% |
| Recurring financial charges65 | €16 | €3k | €4k | ▲ 60.3% |
| Profit (loss) for the period before taxes9903 | €5k | €118k | €119k | ▲ 1.0% |
| Income taxes67/77 | €1k | €25k | €25k | ▲ 3.0% |
| Profit (loss) for the period9904 | €4k | €93k | €94k | ▲ 0.4% |
| Profit (loss) for the period to be appropriated9905 | €4k | €93k | €94k | ▲ 0.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €149k | €197k | €229k | ▲ 16.4% |
| Fixed assets21/28 | €126k | €129k | €141k | ▲ 9.7% |
| Tangible fixed assets22/27 | €6k | €9k | €21k | ▲ 143% |
| Land and buildings22 | - | - | €12k | - |
| Furniture and vehicles24 | €6k | €9k | €9k | ▲ 3.1% |
| Financial fixed assets28 | €120k | €120k | €120k | = |
| Current assets29/58 | €22k | €68k | €88k | ▲ 29.1% |
| Amounts receivable after more than one year29 | €15k | €42k | - | - |
| Trade receivables290 | €15k | €42k | - | - |
| Amounts receivable within one year40/41 | €1 | - | €48k | - |
| Trade receivables40 | - | - | €39k | - |
| Other amounts receivable41 | €1 | - | €9k | - |
| Cash at bank and in hand54/58 | €8k | €26k | €40k | ▲ 53.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €149k | €197k | €229k | ▲ 16.4% |
| Equity10/15 | €7k | €101k | €194k | ▲ 93.1% |
| Contributions10/11 | €3k | €3k | €3k | = |
| Profit (loss) carried forward14 | €4k | €98k | €191k | ▲ 96.0% |
| Amounts payable17/49 | €141k | €96k | €35k | ▼ 63.7% |
| Amounts payable after more than one year17 | €120k | €31k | - | - |
| Financial debts170/4 | €120k | €31k | - | - |
| Amounts payable within one year42/48 | €21k | €65k | €35k | ▼ 46.5% |
| Current portion of amounts payable after more than one year42 | - | €20k | €21k | ▲ 5.1% |
| Trade debts44 | €12k | €2k | €247 | ▼ 85.2% |
| Suppliers440/4 | €12k | €2k | €247 | ▼ 85.2% |
| Taxes, remuneration and social security45 | €10k | €32k | €14k | ▼ 57.5% |
| Taxes450/3 | €3k | €32k | €14k | ▼ 57.5% |
| Remuneration and social security454/9 | €7k | - | - | - |
| Other amounts payable47/48 | - | €11k | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €4k | €93k | €94k | ▲ 0.4% |
| + Depreciation and write-downs630 | €1k | €1k | €3k | ▲ 85.0% |
| Operating cash flow (approximation) | €5k | €95k | €96k | ▲ 1.7% |
| Investment in fixed assets (approximation) | - | €-4k | €-15k | ▼ 301% |
| Change in cash | - | €18k | €14k | ▼ 23.0% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2023net €94k ▲0.4%
Operating result €123k, net result €94k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.52
Current ratio from 1.04 to 2.52; short-term debt falls from €65k to €35k.
31-12
Financial
Equity above €150kEq €194k ▲93.1%
3 profitable years in a row build equity to €194k.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €100kEq €101k ▲1,276%
2 profitable years in a row build equity to €101k.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 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, Oudergem · 1 establishment unit since 2023
Ground area
228 m²
Building footprint
105 m²
Volume, LiDAR
841 m³
Parcel 21002A0206/00V004, Brussels · tallest building 12.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PAD MANAGEMENT
since 20232.349.819.060
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21002A0206/00V004 | Brussels | 228 m² | 1 · 105 m² | 12.3 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 24,727 companies in sector 64210 we hold annual accounts for 19,768. 13,513 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
Founded31-08-2023
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
Contact
E-mail
pierrealexandredemeure@gmail.com
Phone
0492344286
Scores and ratios are computed by Checked and are not a credit decision.