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Pag - Asa

Active
Non-profit associationfounded 1994active for 32 yearsCellebroersstraat 16, 1000 Brussels, BelgiumKBO/BCE: BE 0454.807.066
Summary

Pag - Asa has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €697,808 and a net result of €20,162, of which €62,012 non-recurring income. Equity has been stable since 2018 (±0.7% per year). Its solvency ranks better than 45% of 696 sector peers (NACE 87, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Overview

Official details

Source: KBO
Status
Active since 04-07-1994 Normal situation
Activity
Residential care activities NACE 87992
Establishment unit
2.156.811.925 1000 Brussels, since 18-10-2006
Financial year end
31 December
Peppol
Reachable since 21-10-2026

Board and ownership

Financial position

94 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
< 0.1%
Annual accounts 2025
Gross margin
€2.7m
▲ 2.6%
Turnover
≈ €3.3m
estimated
Surplus
€20,162
▲ 124%
Equity
€697,808
▼ 1.2%
Total assets
€1.7m
▲ 8.6%
Employees on 31-12-2025
40
▲ 2.6%
Score breakdownraises risk1 of the last 3 accounts latelowers riskLegal form: non-profit associationLiquidity: current ratio 2.87, cash €803,159Sector: Residential care activities (NACE 87)Show the evidence

Checked score

Score 2025
94 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 55% of small companies in residential care (NACE 87)
Financial strength · tick: 2024
Strong
Solvency 66-4
equity 40.7% of total assets
Liquidity 89-1
short-term debt 27.8% · cash 46.8%
Profitability 70+1
return on assets 1.2%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median < 0.1% (612 companies, NACE 87, small)
Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025lowest value 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025highest value 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026 10-2026: < 0.1%● unchanged vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026
Credit of up to €65,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.87 (3.09 in 2024), above the usual 1.5. Short-term debt is 27.8% and cash 46.8% of total assets. However, 59.3% of the assets are financed with debt and provisions.
Calculation

The band follows from the bankruptcy probability. 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 87, small). It does better than 43% of them on solvency, 89% on liquidity, 54% on profitability and 32% on growth.

The bankruptcy probability was computed on 04-11-2026 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.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Legal form: non-profit association
KBO
lowers risk · Liquidity: current ratio 2.87, cash €803,159
NBB · annual accounts
lowers risk · Sector: Residential care activities (NACE 87)
KBO
raises risk · 1 of the last 3 accounts late
NBB · filings
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
9 days early
2024
56 days late
2023
28 days late
2022
80 days late
2021
22 days late
2020
93 days early
2019
14 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 10 days after the deadline. In the sector (NACE 87), the median for financial year 2024 was 27 days before the deadline, and 25% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 38 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Key points

  • Positive: 8 profitable years in a rowprofit 2025: €20,162, mostly one-off 8 years View
  • Flemish supportawarded from 2023 to 2025 €139,480 View

Recent changes

  1. · Gazette deed 2 directors appointed, 1 director resigning, 4 directors reappointedResignation: DE PAUW, Heidi (director) · Appointments: LEJEUNE, Julie (director) and DE HOVRE, Sarah (day-to-day manager) · Reappointments: BLANMAILLAND, France, CONINGS, Linda and 2 others
  2. · Gazette deed Amendment of the articlesGeneral meeting of 22-03-2022
  3. · Gazette deed 1 director appointed, 2 directors resigning, 5 directors reappointedResignations: Denys, Lieven (director) and Matthys-Claeys, Anne-Marie (director) · Reappointments: Blanmailland, France, Conings, Linda and 3 others · Appointment: De Hovre, Sarah (day-to-day manager)
All 16 events

Comparable companies

These companies have the same main activity as Pag - Asa: residential care activities (NACE 87992). They are comparable in size and age: total assets between €946,000 and €3.8m, founded between 1970 and 1998.

CompanyTotal assetsGross margin
Pag - Asa Brussels€1.7m€2.7m
CENTRE DE PREVENTION DES VIOLENCES CONJUGALES ET FAMILIALES Brussels€1.8m€2.3m
Centre d'Accueil d'Urgence Ariane - Centrum voor Dringend Onthaal Ariane Forest€1.7m€1.9m
La Maison Rue Verte Saint-Josse-ten-Noode€0.9m€1.8m
Maison Marie-Louise Verviers€1.7m€3.0m
De Stobbe Antwerp€3.8m€2.9m
"La Traille" - Centre Vincentien -Service d'Aide Sociale Engis€1.5m€1.7m
Full comparison

Key facts about Pag - Asa

What is the company number of Pag - Asa?
The company number of Pag - Asa is 0454.807.066. The VAT number is the same number with BE in front: BE 0454.807.066.
Where is Pag - Asa based?
The registered office is at Cellebroersstraat 16, 1000 Brussels.Company details
What does Pag - Asa do?
According to the KBO register, the main activity is residential care activities (NACE 87992).
What is the legal form of Pag - Asa?
Pag - Asa is a non-profit association (VZW).
When was Pag - Asa founded?
Pag - Asa was founded on 04-07-1994.
Is Pag - Asa still active?
Yes, Pag - Asa is an active enterprise in the KBO register.
How many employees does Pag - Asa have?
Pag - Asa had an average of 33.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of Pag - Asa?
The turnover in financial year 2025 is ≈ €3.3m. This figure is estimated from the gross margin of €2.7m and 103 comparable companies (NACE 87). It probably lies between €2.8m and €3.7m.
Is Pag - Asa profitable?
In financial year 2025, Pag - Asa made a profit of €20,162.
Where can I find the annual accounts of Pag - Asa?
Pag - Asa filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of Pag - Asa due?
Pag - Asa must file the annual accounts for financial year 2026 by 31-07-2027.Timeline

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