PAGEDA
ActiveSummary
The computed 12-month bankruptcy probability of PAGEDA is 1.9% (moderate). The annual accounts of PAGEDA for fiscal year 2024 show a net loss of 121% of total assets and of 68% of the equity at the start of that year. The 2024 annual accounts show equity of €72k and a net result of €-156k. Equity is growing by ~59.2% per year across the filed fiscal years. Its solvency ranks better than 60% of 36375 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-100
Solvency81▼-19
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.14 against 12.35 in 2023; short-term debt: 44.4% and cash: 10.9% of total assets), and 44.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
55.6%
Return on assets
-120.6%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
7 d early
2023
358 d late
2022
70 d late
2021
39 d late
2020
31 d late
2019
56 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Hiring this company for building work? Recognition, activities and what to check first.Contractor check Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2024, micro schema
Turnover
€0
Total assets
€129k▼ 52.5%
2023 · €272k
Net result
€-156k
2023 · €192k
Working capital
€66k▼ 72.9%
2023 · €242k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€0
Operating result€21k▲ 1,615%€2k▼ 89.1%€14k▲ 518%€194k▲ 1,289%€-154k
Net result€14k▲ 1,742%€3k▼ 81.9%€12k▲ 353%€192k▲ 1,532%€-156k
Equity€21k▲ 204%€24k▲ 12.1%€36k▲ 49.1%€228k▲ 537%€72k▼ 68.4%
Total assets€31k▲ 134%€82k▲ 160%€110k▲ 34.3%€272k▲ 148%€129k▼ 52.5%
Debt€10k▲ 56.8%€58k▲ 473%€74k▲ 28.2%€44k▼ 40.4%€57k▲ 30.1%
Working capital€15k▲ 74.3%€5k▼ 66.8%€21k▲ 305%€242k▲ 1,067%€66k▼ 72.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €154k after €194k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €129k
Fixed assets
€6k ▼ 28.3%
Current assets
€123k ▼ 53.3%
Equity and liabilities €129k
Equity
€72k ▼ 68.4%
Debt
€57k ▲ 30.1%
Debt's share of the balance-sheet total rises from 16.2% to 44.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-149k▼
2023 · €203k
Cash flow
€-151k▼
2023 · €202k
Current ratio
2.14▼
2023 · 12.35
Debt to equity
0.80▲
2023 · 0.19
ROE
-216.9%▼
2023 · 84.3%
ROA
-120.6%▼
2023 · 70.6%
Interest coverage
-75.23▼
2023 · 135.20
Debt ≤ 1 year
€57k▲
2023 · €21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €0 | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €586 | - |
| Goods, raw materials, services and sundry goods60/61 | - | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €993 | €6k | €10k | €9k | €5k | ▼ 45.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €106k | - |
| Other operating charges640/8 | - | €7k | €7k | €7k | €10k | ▲ 47.0% |
| Non-recurring operating charges66A | - | - | - | - | €70k | - |
| Gross operating margin9900 | €23k | €14k | €30k | €210k | €37k | ▼ 82.5% |
| Operating profit (loss)9901 | €21k | €2k | €14k | €194k | €-154k | ▼ 180% |
| Financial income75/76B | - | €2k | €4k | €6 | €46 | ▲ 667% |
| Recurring financial income75 | €0 | €2k | €4k | €6 | €46 | ▲ 667% |
| Financial charges65/66B | - | €336 | €848 | €2k | €2k | ▲ 31.8% |
| Recurring financial charges65 | €915 | €336 | €848 | €2k | €2k | ▲ 31.8% |
| Profit (loss) for the period before taxes9903 | €20k | €4k | €17k | €192k | €-156k | ▼ 181% |
| Income taxes67/77 | €5k | €1k | €5k | - | - | - |
| Profit (loss) for the period9904 | €14k | €3k | €12k | €192k | €-156k | ▼ 181% |
| Profit (loss) for the period to be appropriated9905 | €14k | €3k | €12k | €192k | €-156k | ▼ 181% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €31k | €82k | €110k | €272k | €129k | ▼ 52.5% |
| Fixed assets21/28 | €9k | €19k | €15k | €9k | €6k | ▼ 28.3% |
| Tangible fixed assets22/27 | €9k | €19k | €15k | €7k | €5k | ▼ 34.0% |
| Plant, machinery and equipment23 | - | - | - | - | €2k | - |
| Furniture and vehicles24 | - | €19k | €15k | €7k | €3k | ▼ 64.5% |
| Financial fixed assets28 | €0 | - | - | €1k | €1k | = |
| Current assets29/58 | €22k | €63k | €95k | €263k | €123k | ▼ 53.3% |
| Stocks and contracts in progress3 | - | - | €0 | - | - | - |
| Stocks30/36 | - | - | €0 | - | - | - |
| Amounts receivable within one year40/41 | €19k | €63k | €84k | €260k | €109k | ▼ 58.0% |
| Trade receivables40 | - | €4k | €19k | €189k | €63k | ▼ 66.5% |
| Other amounts receivable41 | - | €58k | €66k | €70k | €46k | ▼ 35.2% |
| Cash at bank and in hand54/58 | €3k | €0 | €10k | €4k | €14k | ▲ 294% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €31k | €82k | €110k | €272k | €129k | ▼ 52.5% |
| Equity10/15 | €21k | €24k | €36k | €228k | €72k | ▼ 68.4% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €14k | €14k | €14k | €14k | €14k | = |
| Distributable reserves133 | - | €14k | €14k | €14k | €14k | = |
| Profit (loss) carried forward14 | €780 | €3k | €15k | €207k | €51k | ▼ 75.3% |
| Amounts payable17/49 | €10k | €58k | €74k | €44k | €57k | ▲ 30.1% |
| Amounts payable after more than one year17 | - | - | - | €21k | - | - |
| Financial debts170/4 | - | - | - | €21k | - | - |
| Amounts payable within one year42/48 | €7k | €58k | €74k | €21k | €57k | ▲ 169% |
| Trade debts44 | €0 | €51k | €66k | €16k | €57k | ▲ 263% |
| Suppliers440/4 | - | €51k | €66k | €16k | €57k | ▲ 263% |
| Taxes, remuneration and social security45 | - | €7k | €8k | €5k | - | - |
| Taxes450/3 | - | €7k | €7k | €5k | - | - |
| Remuneration and social security454/9 | - | - | €500 | - | - | - |
| Other amounts payable47/48 | - | €0 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | €0 | - | €2k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14k | €3k | €12k | €192k | €-156k | ▼ 181% |
| + Depreciation and write-downs630 | €993 | €6k | €10k | €9k | €5k | ▼ 45.9% |
| Operating cash flow (approximation) | €15k | €8k | €21k | €202k | €-151k | ▼ 175% |
| Investment in fixed assets (approximation) | - | €-15k | €-6k | €-3k | €-3k | ▲ 16.6% |
| Change in cash | - | €-3k | €10k | €-7k | €10k | ▲ 253% |
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
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 358 days late
2024
31-12
Financial
Weakest financial yearnet €-156k
Net result drops to €-156k, the lowest in the series.
2023
31-12
Financial
Highest result since 2018net €192k ▲1,532%
Operating result €194k, net result €192k, both a record.
31-12
Financial
Liquidity times 10current ratio 12.35
Current ratio from 1.28 to 12.35; short-term debt falls from €74k to €21k.
31-12
Financial
Equity above €200kEq €228k ▲537%
5 profitable years in a row build equity to €228k.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
08-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 39 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
31-12
Financial
Back to profitnet €780
Net result €780 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.91
Current ratio from 1.00 to 2.91.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Saint-Georges-sur-Meuse · 1 establishment unit since 2018
Ground area
699 m²
Building footprint
105 m²
Volume, LiDAR
700 m³
2 parcels, Wallonia · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PAGEDA
since 20182.324.455.441
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62057B0834/00D000 | Wallonia | 441 m² | 1 · 51 m² | 6.6 m · 2 fl. |
| 64065C0892/00M003indicative | Wallonia | 258 m² | 1 · 54 m² | 9.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 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 3,959 companies in sector 43331 we hold annual accounts for 1,788. 1,560 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
Founded14-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
43350Other building finishing work
43422Screed work
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.