PADAO
ActiveSummary
PADAO has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €176,054 and a net result of €62,459. Equity is growing by ~42.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 7814 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+6
Solvency84▲+4
Growth52=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 2.41 against 2.2 in 2024; short-term debt: 41.1% and cash: 2.5% of total assets), and 41.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
58.8%
Return on assets
20.9%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-09-2026, 49 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 · 3 filingsDeviation from the deadline
2025
49 d late
2024
57 d late
2023
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 45 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€176,054▲ 55.0%
2024 · €113,595
Total assets
€299,387▲ 44.9%
2024 · €206,663
Net result
€62,459▲ 85.0%
2024 · €33,767
Working capital
€174,317▲ 57.1%
2024 · €110,973
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€90,335-€38,168▼ 57.7%€78,985▲ 107%
Net result€69,827above the sector's middle half-€33,767within the sector's middle half▼ 51.6%€62,459above the sector's middle half▲ 85.0%
Equity€79,827within the sector's middle half-€113,595within the sector's middle half▲ 42.3%€176,054above the sector's middle half▲ 55.0%
Total assets€129,126within the sector's middle half-€206,663within the sector's middle half▲ 60.0%€299,387within the sector's middle half▲ 44.9%
Debt€49,299-€93,069▲ 88.8%€123,333▲ 32.5%
Working capital€77,056-€110,973▲ 44.0%€174,317▲ 57.1%
Solvency61.8%within the sector's middle half-55.0%within the sector's middle half▼ 6.9pp58.8%within the sector's middle half▲ 3.8pp
Staff (FTE)1-1=1=
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 107% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €299,387
Fixed assets
€1,874 ▼ 35.2%
Current assets
€297,513 ▲ 46.0%
Equity and liabilities €299,387
Equity
€176,054 ▲ 55.0%
Debt
€123,333 ▲ 32.5%
Debt's share of the balance-sheet total falls from 45.0% to 41.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€80,002▲
2024 · €39,116
Cash flow
€63,476▲
2024 · €34,716
Current ratio
2.41▲
2024 · 2.20
Debt to equity
0.70▼
2024 · 0.82
ROE
35.5%▲
2024 · 29.7%
ROA
20.9%▲
2024 · 16.3%
Interest coverage
22.34▼
2024 · 30.83
Debt ≤ 1 year
€123,196▲
2024 · €92,799
Income taxes
€25,270▲
2024 · €10,489
Staff costs
€76,378▲
2024 · €46,366
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,275 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 39,275 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.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €18,018 | €46,366 | €76,378 | ▲ 64.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €535 | €948 | €1,017 | ▲ 7.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €6,000 | -€2,000 | €0 | ▲ 100% |
| Other operating charges640/8 | €3,487 | €6,939 | €5,299 | ▼ 23.6% |
| Gross operating margin9900 | €118,375 | €90,421 | €161,679 | ▲ 78.8% |
| Operating profit (loss)9901 | €90,335 | €38,168 | €78,985 | ▲ 107% |
| Financial income75/76B | - | €7,357 | €12,325 | ▲ 67.5% |
| Recurring financial income75 | - | €7,357 | €12,325 | ▲ 67.5% |
| Financial charges65/66B | €1,008 | €1,269 | €3,581 | ▲ 182% |
| Recurring financial charges65 | €1,008 | €1,269 | €3,581 | ▲ 182% |
| Profit (loss) for the period before taxes9903 | €89,327 | €44,256 | €87,729 | ▲ 98.2% |
| Income taxes67/77 | €19,500 | €10,489 | €25,270 | ▲ 141% |
| Profit (loss) for the period9904 | €69,827 | €33,767 | €62,459 | ▲ 85.0% |
| Profit (loss) for the period to be appropriated9905 | €69,827 | €33,767 | €62,459 | ▲ 85.0% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €129,126 | €206,663 | €299,387 | ▲ 44.9% |
| Fixed assets21/28 | €2,771 | €2,891 | €1,874 | ▼ 35.2% |
| Tangible fixed assets22/27 | €2,771 | €2,891 | €1,874 | ▼ 35.2% |
| Furniture and vehicles24 | €2,771 | €2,891 | €1,874 | ▼ 35.2% |
| Current assets29/58 | €126,355 | €203,772 | €297,513 | ▲ 46.0% |
| Amounts receivable within one year40/41 | €102,286 | €184,362 | €290,142 | ▲ 57.4% |
| Trade receivables40 | €23,818 | €17,638 | €28,640 | ▲ 62.4% |
| Other amounts receivable41 | €78,468 | €166,725 | €261,502 | ▲ 56.8% |
| Cash at bank and in hand54/58 | €24,069 | €19,410 | €7,371 | ▼ 62.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €129,126 | €206,663 | €299,387 | ▲ 44.9% |
| Equity10/15 | €79,827 | €113,595 | €176,054 | ▲ 55.0% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | - | - | €62,459 | - |
| Distributable reserves133 | - | - | €62,459 | - |
| Profit (loss) carried forward14 | €69,827 | €103,595 | €103,595 | = |
| Amounts payable17/49 | €49,299 | €93,069 | €123,333 | ▲ 32.5% |
| Amounts payable within one year42/48 | €49,299 | €92,799 | €123,196 | ▲ 32.8% |
| Trade debts44 | €10,320 | €16,849 | €16,907 | ▲ 0.3% |
| Suppliers440/4 | €10,320 | €16,849 | €16,907 | ▲ 0.3% |
| Taxes, remuneration and social security45 | €38,979 | €75,951 | €106,289 | ▲ 39.9% |
| Taxes450/3 | €35,448 | €63,828 | €71,863 | ▲ 12.6% |
| Remuneration and social security454/9 | €3,530 | €12,123 | €34,425 | ▲ 184% |
| Accrued charges and deferred income492/3 | - | €269 | €137 | ▼ 49.0% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,827 | €33,767 | €62,459 | ▲ 85.0% |
| + Depreciation and write-downs630 | €535 | €948 | €1,017 | ▲ 7.3% |
| Operating cash flow (approximation) | €70,362 | €34,716 | €63,476 | ▲ 82.8% |
| Investment in fixed assets (approximation) | - | -€1,068 | €0 | ▲ 100% |
| Change in cash | - | -€4,659 | -€12,039 | ▼ 158% |
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
18-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 49 days late
2025
31-12
Financial
Equity above €150,000Eq €176,054 ▲55%
3 profitable years in a row build equity to €176,054.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
31-12
Financial
Weakest financial yearnet €33,767 ▼51.6%
Net result drops to €33,767, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100,000Eq €113,595 ▲42.3%
2 profitable years in a row build equity to €113,595.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 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, Bornem · 1 establishment unit since 2022
Ground area
4,016 m²
Building footprint
1,696 m²
Volume, LiDAR
5,522 m³
Parcel 12007D0605/00X000, Flanders · tallest building 8.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
PADAO
since 20222.332.463.186
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007D0605/00X000 | Flanders | 4,016 m² | 1 · 1,696 m² | 8.2 m · 1 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.
Similar companies · same sector, comparable size
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Volt Finance & Engineering
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BEOCO
BE 0807.967.537
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Darksnet
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MAQUA J&S
BE 0755.955.345
Bouillon · Eq €175,975
Of 24,517 companies in sector 82990 we hold annual accounts for 9,415. 7,059 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
Founded30-05-2022
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0786626844
Also
9925:BE0786626844
Registered
07-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.