PAGODE
ActivePAGODE has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €143k and a net result of €10k. Equity is growing by ~24.6% per year across the filed fiscal years. Its solvency ranks better than 63% of 18237 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▲+2
Solvency74▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity tight (current ratio 1.13 against 0.94 in 2024; short-term debt: 14.3% and cash: 4.5% of total assets), and 50.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
49.3%
Return on assets
3.3%
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 13-08-2026, 13 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 · 10 filingsDeviation from the deadline
2025
13 d late
2024
2 d early
2023
26 d early
2022
16 d late
2021
33 d early
2020
4 d late
2019
3 d early
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€143k▲ 7.2%
2024 · €133k
2018: €21k
2019: €32k
2020: €49k
2021: €64k
2022: €88k
2023: €129k
2024: €133k
2018 → 2025
Total assets
€290k▼ 3.0%
2024 · €299k
2018: €72k
2019: €103k
2020: €140k
2021: €301k
2022: €314k
2023: €330k
2024: €299k
2018 → 2025
Net result
€10k▲ 101%
2024 · €5k
2018: €2k
2019: €22k
2020: €17k
2021: €10k
2022: €24k
2023: €41k
2024: €5k
2018 → 2025
Working capital
€5k
2024 · €-4k
2018: €-29k
2019: €-28k
2020: €-19k
2021: €-40k
2022: €-59k
2023: €547
2024: €-4k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€64k-€88k▲ 37.1%€129k▲ 46.6%€133k▲ 3.7%€143k▲ 7.2%
Operating result€15k-€34k▲ 129%€66k▲ 96.9%€9k▼ 85.8%€19k▲ 98.1%
Net result€10k-€24k▲ 138%€41k▲ 71.9%€5k▼ 88.3%€10k▲ 101%
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 98% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €290k
Fixed assets
€243k▼ 0.5%
Current assets
€47k▼ 14.4%
Equity and liabilities €290k
Equity
€143k▲ 7.2%
Debt
€147k▼ 11.3%
The debt ratio falls from 55.4% to 50.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37k▲
2024 · €25k
Cash flow
€28k▲
2024 · €21k
Solvency
49.3%▲
2024 · 44.6%
Current ratio
1.13▲
2024 · 0.94
Quick ratio
1.00▲
2024 · 0.85
Debt / equity
1.03▼
2024 · 1.24
ROE
6.7%▲
2024 · 3.6%
ROA
3.3%▲
2024 · 1.6%
Interest coverage
16.40▲
2024 · 11.43
Debt
€147k▼
2024 · €166k
Debt ≤ 1 year
€42k▼
2024 · €58k
Debt > 1 year
€106k▼
2024 · €108k
Income taxes
€7k▲
2024 · €2k
Staff costs
€31k▲
2024 · €29k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€299k€290k▼
Fixed assets21/28€245k€243k▼
Intangible fixed assets21€46k€39k▼
Tangible fixed assets22/27€198k€204k▲
Land and buildings22€187k€182k▼
Plant, machinery and equipment23€11k€10k▼
Furniture and vehicles24€483€12k▲
Current assets29/58€55k€47k▼
Stocks and contracts in progress3€5k€5k▲
Stocks30/36€5k€5k▲
Amounts receivable within one year40/41€33k€26k▼
Trade receivables40€21k€22k▲
Other amounts receivable41€12k€4k▼
Cash at bank and in hand54/58€16k€13k▼
Deferred charges and accrued income490/1€843€2k▲
Equity and liabilities
Total equity and liabilities10/49€299k€290k▼
Equity10/15€133k€143k▲
Contributions10/11€19k€19k=
Revaluation surpluses12€5k€5k=
Reserves13€110k€119k▲
Distributable reserves133€110k€119k▲
Amounts payable17/49€166k€147k▼
Amounts payable after more than one year17€108k€106k▼
Financial debts170/4€108k€106k▼
Amounts payable within one year42/48€58k€42k▼
Current portion of amounts payable after more than one year42€20k€20k▼
Trade debts44€24k€15k▼
Suppliers440/4€24k€15k▼
Taxes, remuneration and social security45€13k€6k▼
Taxes450/3€5k€2k▼
Remuneration and social security454/9€8k€4k▼
Other amounts payable47/48€961€498▼
Income statement
Code20242025
Remuneration, social security and pensions62€29k€31k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€18k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€57k€70k▲
Operating profit (loss)9901€9k€19k▲
Financial income75/76B€52€168▲
Recurring financial income75€52€168▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Profit (loss) for the period before taxes9903€7k€17k▲
Income taxes67/77€2k€7k▲
Profit (loss) for the period9904€5k€10k▲
Profit (loss) for the period to be appropriated9905€5k€10k▲
Appropriation of the result
Profit (loss) to be appropriated9906€5k€10k▲
Transfer to equity691/2€5k€10k▲
To the legal reserve6920-€10k
To other reserves6921€5k-
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 13 days late
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €41k ▲71.9%
Operating result €66k, net result €41k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 1.01
Current ratio from 0.35 to 1.01; short-term debt falls from €91k to €74k.
31-12
Financial
Equity above €100kEq €129k ▲46.6%
6 profitable years in a row build equity to €129k.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 4 days late
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Berlaar · 1 establishment unit since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Aarschotsebaan 872590 BerlaarGround area
136 m²
Building footprint
124 m²
Volume, LiDAR
766 m³
Parcel 12002C0887/00C007, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Aarschotsebaan 87, 2590 Berlaar
since 20022.113.913.575
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12002C0887/00C007 | Flanders | 136 m² | 1 · 123 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 4,250 EUR awarded · 4,250 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,198 EUR | 1,198 EUR |
| 2024 | 1 | 1,052 EUR | 1,052 EUR |
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Hinderpremie bij openbare werken
Recognitions · licences · registrations
Food safety, FASFC
1 siteBerlaar2.113.913.575
Similar companies · same sector, comparable size
DIVÉRO
BE 0863.420.061
Brecht · Eq €143k
TRADEMED
BE 0597.737.259
Sint-Joost-ten-Node · Eq €143k
Delmer
BE 1006.654.716
Oostende · Eq €143k
AHDI
BE 0460.880.157
Koekelberg · Eq €143k
RD COMPANY
BE 0795.488.882
Zaventem · Eq €143k
Of 10,524 companies in sector 47110 we hold annual accounts for 5,860. 4,486 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-06-1999
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47112Retail trade
47241Retail sale of bread and pastry (bakery outlets)
74142
47221Retail sale of meat and meat products, excluding game and poultry
47222Retail trade
55522
56210Event catering
70200Business and other management consultancy
70220Business consulting
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.