PAGONI
ActivePAGONI has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28k and a net result of €-1k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 9384 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency5▼-2
Growth78▲+26
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Liquidity short (current ratio 0.43 against 0.63 in 2024), and 92.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 71
Relative position
BE, all sectors
reference
Sector 71
lower
← 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 2025Solvency, return and age of the figures
Solvency
7.6%
Return on assets
-0.4%
Age of the figures
17 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€1k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 9384 sector peers (2025).
NBB · sector comparisonPosition among 9384 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 26-11-2025, 26 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
26 d late
2024
29 d late
2023
on the day
2022
3 d late
2021
3 d early
2020
16 d late
2019
148 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close14-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€28k▼ 4.6%
2024 · €29k
2019: €-19k
2020: €8k
2021: €44k
2022: €71k
2023: €107k
2024: €29k
2019 → 2025
Total assets
€371k▼ 16.1%
2024 · €442k
2019: €6k
2020: €18k
2021: €65k
2022: €124k
2023: €467k
2024: €442k
2019 → 2025
Net result
€-1k▲ 98.3%
2024 · €-78k
2019: €-11k
2020: €27k
2021: €36k
2022: €26k
2023: €36k
2024: €-78k
2019 → 2025
Working capital
€-33k▲ 14.3%
2024 · €-38k
2019: €-19k
2020: €8k
2021: €43k
2022: €61k
2023: €33k
2024: €-38k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€44k-€71k▲ 59.6%€107k▲ 50.6%€29k▼ 72.5%€28k▼ 4.6%
Operating result€46k-€35k▼ 24.7%€53k▲ 53.6%€-68k€12k
Net result€36k-€26k▼ 26.8%€36k▲ 35.6%€-78k€-1k▲ 98.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €12k after a loss of €68k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €371k
Fixed assets
€346k▼ 7.8%
Current assets
€24k▼ 63.2%
Equity and liabilities €371k
Equity
€28k▼ 4.6%
Debt
€343k▼ 16.9%
The debt ratio falls from 93.3% to 92.4%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€41k▲
2024 · €-40k
Cash flow
€28k▲
2024 · €-49k
Solvency
7.6%▲
2024 · 6.7%
Current ratio
0.43▼
2024 · 0.63
Quick ratio
0.43▼
2024 · 0.63
Debt / equity
12.20▼
2024 · 14.01
ROE
-4.8%▲
2024 · -263.5%
ROA
-0.4%▲
2024 · -17.5%
Interest coverage
3.01▲
2024 · -4.10
Debt
€343k▼
2024 · €412k
Debt ≤ 1 year
€57k▼
2024 · €104k
Debt > 1 year
€286k▼
2024 · €307k
Income taxes
€1k▲
2024 · €191
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€442k€371k▼
Fixed assets21/28€376k€346k▼
Tangible fixed assets22/27€376k€346k▼
Land and buildings22€348k€328k▼
Plant, machinery and equipment23€14k€10k▼
Furniture and vehicles24€15k€8k▼
Current assets29/58€66k€24k▼
Amounts receivable within one year40/41€63k€20k▼
Trade receivables40€37k€0▼
Other amounts receivable41€26k€20k▼
Cash at bank and in hand54/58€0-
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€442k€371k▼
Equity10/15€29k€28k▼
Contributions10/11€9k€9k=
Reserves13€20k€20k=
Distributable reserves133€20k€20k=
Profit (loss) carried forward14€0€-1k▼
Amounts payable17/49€412k€343k▼
Amounts payable after more than one year17€307k€286k▼
Financial debts170/4€307k€286k▼
Amounts payable within one year42/48€104k€57k▼
Current portion of amounts payable after more than one year42€26k€25k▼
Financial debts43€35k€8k▼
Credit institutions430/8€35k€8k▼
Trade debts44€27k€4k▼
Suppliers440/4€27k€4k▼
Taxes, remuneration and social security45€16k€20k▲
Taxes450/3€16k€20k▲
Remuneration and social security454/9€0-
Accrued charges and deferred income492/3€2k€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€29k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€-37k€44k▲
Operating profit (loss)9901€-68k€12k▲
Financial income75/76B€935€2k▲
Recurring financial income75€935€2k▲
Financial charges65/66B€10k€14k▲
Recurring financial charges65€10k€14k▲
Profit (loss) for the period before taxes9903€-77k€-181▲
Income taxes67/77€191€1k▲
Profit (loss) for the period9904€-78k€-1k▲
Profit (loss) for the period to be appropriated9905€-78k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-77k€-1k▲
Profit (loss) brought forward from the previous period14P€319€0▼
Transfer from equity791/2€77k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (5 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
2025
26-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2024
29-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
31-03
Financial
Weakest financial yearnet €-78k ▼316%
Net result drops to €-78k, the lowest in the series; recovery starts the following year.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €100kEq €107k ▲50.6%
4 profitable years in a row build equity to €107k.
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €36k ▲33.2%
Net result €36k, the highest in the series.
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
31-03
Financial
Back to profitnet €27k
Net result €27k after one loss-making year.
31-03
Financial
Liquidity times 8current ratio 1.87
Current ratio from 0.22 to 1.87; short-term debt falls from €25k to €9k.
27-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 148 days late
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 92 days late
2018
09-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 160 days late
2016
30-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Lubbeek · 1 establishment unit since 2015
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.
Molendries(LUB) 233210 LubbeekGround area
6,774 m²
Building footprint
285 m²
Volume, LiDAR
1,566 m³
Parcel 24066H0215/00H000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PAGONI
since 20152.242.169.945
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24066H0215/00H000 | Flanders | 6,774 m² | 1 · 285 m² | 8.8 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.
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NOVACHÂSSIS
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Of 11,505 companies in sector 71121 we hold annual accounts for 6,525. 4,390 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-04-2015
Fiscal year end31-03
Activities, NACEBEL
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
72109Other research and development on natural sciences
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.