PAGEOR
ActiveSummary
PAGEOR has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €861,913 and a net result of -€27,034. Equity remains stable across the filed fiscal years (±2% per year). Its solvency ranks better than 76% of 32629 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
What they do
Activities of head offices
NACE 70100NACE 74879Other business support services NACE 82990
1 site
How big
€1.1mtotal assets 2025
- Equity
- €861,913
- Loss
- -€27,034
Turnover not published (abridged schema)
Who decides
- Holdings
- 2
Accounts 4 d early0 of 4 deeds read
Why 77- Persistent losses+ Lower-failure-rate sector+ Long track record+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability49▲+20
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity short (current ratio 0.34 against 0.27 in 2024; short-term debt: 4.5% and cash: 0.6% of total assets), and 20.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
79.4%
Return on assets
-2.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€27,034
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
13 d early
2023
9 d early
2022
31 d late
2021
5 d early
2020
23 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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. Usually files around 26 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
Financials
Fiscal year 2025Total assets €1.1mLoss -€27,034Solvency 79.4%Liquidity 0.34
Total assets
€1.1m▼ 2.3%
2018 - 2025
Net result
-€27,034▲ 26.3%
2018 - 2025
Equity
€861,913▼ 3.0%
2018 - 2025
Solvency
79.4%▼ 0.6pp
2018 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.2m▼ 629%€0.3m-€0.03m-€0.03m▲ 12.8%-€0.01m▲ 52.8%
Net result-€0.2mbelow the sector's middle half▼ 489%€0.3mabove the sector's middle half-€0.04mbelow the sector's middle half-€0.04mbelow the sector's middle half▲ 14.2%-€0.03mbelow the sector's middle half▲ 26.3%
Equity€0.7mabove the sector's middle half▼ 24.9%€1.0mabove the sector's middle half▲ 36.2%€0.9mabove the sector's middle half▼ 4.4%€0.9mabove the sector's middle half▼ 4.6%€0.9mabove the sector's middle half▼ 3.0%
Total assets€0.7mabove the sector's middle half▼ 38.7%€1.3mabove the sector's middle half▲ 72.1%€1.2mabove the sector's middle half▼ 6.7%€1.1mabove the sector's middle half▼ 5.0%€1.1mabove the sector's middle half▼ 2.3%
Debt€0.01m▼ 94.4%€0.3m▲ 2,027%€0.2m▼ 15.0%€0.2m▼ 6.4%€0.2m▲ 0.7%
Working capital€0.1mwithin the sector's middle half-€0.01mbelow the sector's middle half-€0.01mbelow the sector's middle half=-€0.02mbelow the sector's middle half▼ 99.9%-€0.03mbelow the sector's middle half▼ 31.2%
Solvency98.2%above the sector's middle half▲ 18.1pp77.7%above the sector's middle half▼ 20.5pp79.7%above the sector's middle half▲ 2.0pp80.0%above the sector's middle half▲ 0.3pp79.4%above the sector's middle half▼ 0.6pp
Current ratio10.84above the sector's middle half▲ 10.010.82below the sector's middle half▼ 10.020.66below the sector's middle half▼ 0.150.27below the sector's middle half▼ 0.390.34below the sector's middle half▲ 0.07
Return on assets (ROA)-27.2%below the sector's middle half▼ 24.4pp22.7%within the sector's middle half▲ 49.9pp-3.7%below the sector's middle half▼ 26.3pp-3.3%below the sector's middle half▲ 0.4pp-2.5%below the sector's middle half▲ 0.8pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €13,501 in 2025 against €28,605 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.1m ▼ 3.0%
Current assets
€16,864 ▲ 82.5%
Equity and liabilities €1.1m
Equity
€861,913 ▼ 3.0%
Debt
€223,790 ▲ 0.7%
Debt's share of the balance-sheet total rises from 20.0% to 20.6%. Equity is lower and debt is higher.
Key figures and ratios
Key figures and ratios
EBITDA
€27,164▲
2024 · €14,258
Cash flow
€13,631▲
2024 · €6,181
Debt to equity
0.26▲
2024 · 0.25
ROE
-3.1%▲
2024 · -4.1%
Interest coverage
3.94▲
2024 · 1.78
Debt ≤ 1 year
€49,354▲
2024 · €33,999
Debt > 1 year
€174,436▼
2024 · €188,246
Income taxes
€7,043▲
2024 · €285
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,612 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,341 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% | 1.0% |
| 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% 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 8,612 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,828 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,652 | €105,250 | €42,576 | €42,863 | €40,665 | ▼ 5.1% |
| Other operating charges640/8 | €11,878 | €9,250 | €9,374 | €8,923 | €8,531 | ▼ 4.4% |
| Non-recurring operating charges66A | €169,408 | - | - | - | - | - |
| Gross operating margin9900 | €23,140 | €410,464 | €19,153 | €23,180 | €35,695 | ▲ 54.0% |
| Operating profit (loss)9901 | -€193,798 | €295,964 | -€32,797 | -€28,605 | -€13,501 | ▲ 52.8% |
| Financial income75/76B | - | €2 | €61 | €238 | €396 | ▲ 66.8% |
| Recurring financial income75 | - | €2 | €61 | €238 | €396 | ▲ 66.8% |
| Financial charges65/66B | €4,447 | €4,509 | €7,068 | €8,030 | €6,887 | ▼ 14.2% |
| Recurring financial charges65 | €4,447 | €4,509 | €7,068 | €8,030 | €6,887 | ▼ 14.2% |
| Profit (loss) for the period before taxes9903 | -€198,245 | €291,457 | -€39,803 | -€36,397 | -€19,991 | ▲ 45.1% |
| Income taxes67/77 | €238 | €7,104 | €2,925 | €285 | €7,043 | ▲ 2,371% |
| Profit (loss) for the period9904 | -€198,483 | €284,353 | -€42,729 | -€36,682 | -€27,034 | ▲ 26.3% |
| Profit (loss) for the period to be appropriated9905 | -€198,483 | €284,353 | -€42,729 | -€36,682 | -€27,034 | ▲ 26.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.7m | €1.3m | €1.2m | €1.1m | €1.1m | ▼ 2.3% |
| Fixed assets21/28 | €0.6m | €1.2m | €1.1m | €1.1m | €1.1m | ▼ 3.0% |
| Tangible fixed assets22/27 | €0.6m | €1.2m | €1.1m | €1.1m | €1.1m | ▼ 3.0% |
| Land and buildings22 | €0.6m | €1.2m | €1.1m | €1.1m | €1.1m | ▼ 3.0% |
| Plant, machinery and equipment23 | €311 | €208 | €104 | €0 | €0 | = |
| Furniture and vehicles24 | €0.001m | €0.001m | €269 | €0 | - | - |
| Other tangible fixed assets26 | - | - | €0.001m | €0.001m | €0.001m | ▼ 11.4% |
| Current assets29/58 | €0.1m | €0.06m | €0.02m | €0.009m | €0.02m | ▲ 82.5% |
| Amounts receivable within one year40/41 | €0.02m | - | €0.002m | €0.004m | €0.007m | ▲ 82.6% |
| Other amounts receivable41 | €0.02m | - | €0.002m | €0.004m | €0.007m | ▲ 82.6% |
| Cash at bank and in hand54/58 | €0.1m | €0.06m | €0.02m | €0.002m | €0.007m | ▲ 201% |
| Deferred charges and accrued income490/1 | - | - | €492 | €0.003m | €0.003m | ▼ 8.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.7m | €1.3m | €1.2m | €1.1m | €1.1m | ▼ 2.3% |
| Equity10/15 | €0.7m | €1.0m | €0.9m | €0.9m | €0.9m | ▼ 3.0% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Revaluation surpluses12 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Reserves13 | €0.6m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Non-distributable reserves130/1 | €0.002m | €0.002m | €0.002m | €0 | - | - |
| Reserves not available under the articles1311 | €0.002m | €0.002m | €0.002m | €0 | - | - |
| Distributable reserves133 | €0.6m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Profit (loss) carried forward14 | - | - | -€0.04m | -€0.08m | -€0.1m | ▼ 34.0% |
| Amounts payable17/49 | €0.01m | €0.3m | €0.2m | €0.2m | €0.2m | ▲ 0.7% |
| Amounts payable after more than one year17 | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 7.3% |
| Financial debts170/4 | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 7.3% |
| Amounts payable within one year42/48 | €0.01m | €0.07m | €0.04m | €0.03m | €0.05m | ▲ 45.2% |
| Current portion of amounts payable after more than one year42 | - | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 7.9% |
| Trade debts44 | €0.006m | €0.007m | €0.01m | €0.005m | €0.01m | ▲ 125% |
| Suppliers440/4 | €0.006m | €0.007m | €0.01m | €0.005m | €0.01m | ▲ 125% |
| Taxes, remuneration and social security45 | €500 | €0.03m | €272 | €271 | €288 | ▲ 6.3% |
| Taxes450/3 | €500 | €0.03m | €272 | €271 | €288 | ▲ 6.3% |
| Other amounts payable47/48 | €0.007m | €0.02m | €0.01m | €0.02m | €0.03m | ▲ 51.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€198,483 | €284,353 | -€42,729 | -€36,682 | -€27,034 | ▲ 26.3% |
| + Depreciation and write-downs630 | €35,652 | €105,250 | €42,576 | €42,863 | €40,665 | ▼ 5.1% |
| Operating cash flow (approximation) | -€162,831 | €389,603 | -€153 | €6,181 | €13,631 | ▲ 121% |
| Investment in fixed assets (approximation) | - | -€717,878 | €11,358 | -€66 | -€7,551 | ▼ 11,331% |
| Change in cash | - | -€62,709 | -€33,441 | -€19,288 | €4,590 | ▲ 124% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
FOLKER LAMOTE
BE 0524.953.409
Roeselare · Eq €861,104
KAMA
BE 0452.904.480
Schilde · Eq €856,861
WN MANAGEMENT & CONSULTANCY
BE 0445.299.581
Zulte · Eq €867,040
G. VANNESTE EN ZOON
BE 0418.568.064
Maldegem · Eq €856,364
LOUVAL
BE 0817.338.133
Fléron · Eq €855,810
Of 5,715 companies in this sector we hold annual accounts for 3,523. 1,985 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
2 holdings
Directors
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2022 list no shareholders, and no other source names one.
Holdings 2
-
25%
-
16.69%
According to the 2022 annual accounts of PAGEOR and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No directors read yet: 0 of 4 Gazette acts processed.
Timeline
13 eventsLatest 27-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Back to profitnet €284,353
Net result €284,353 after 4 loss-making years.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€198,483
Net result drops to -€198,483, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 13current ratio 10.84
Current ratio from 0.83 to 10.84; short-term debt falls from €53,914 to €13,136.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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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Company details
Private limited company · founded 23-10-1997Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded23-10-1997
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
82990Other business support services
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0461742764
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Waregem · 1 establishment unit since 1997
Ground area
1,046 m²
Building footprint
164 m²
Volume, LiDAR
1,050 m³
Parcel 34452A0254/00R002, Flanders · tallest building 12.5 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PAGEOR
since 1997unit no. 2.083.994.223
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452A0254/00R002 | Flanders | 1,046 m² | 1 · 164 m² | 12.5 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.
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