PAL-IMMO
ActiveSummary
PAL-IMMO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €33k and a net result of €4k. Equity is growing by ~63.2% per year across the filed fiscal years. Its solvency ranks better than 22% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability41▼-4
Solvency26=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.01 in 2024; short-term debt: 16.1% and cash: 0% of total assets), and 98.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
1.1%
Return on assets
0.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 14128 sector peers (2025).
NBB · sector comparisonPosition among 14128 sector peers
Solvency
better than 22%
← weakest
strongest →
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 · 5 filingsDeviation from the deadline
2025
4 d early
2024
29 d late
2023
50 d late
2022
60 d late
2021
15 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€33k▲ 15.1%
2024 · €28k
2021: €-14k
2022: €-21k▼ -51.9% vs 2021lowest in 5 years
2023: €11k▲ +153% vs 2022
2024: €28k▲ +158% vs 2023
2025: €33k▲ +15.1% vs 2024highest in 5 years
2021 → 2025
Total assets
€2.90M▲ 11.4%
2024 · €2.60M
2021: €1.36Mlowest in 5 years
2022: €2.33M▲ +72.1% vs 2021
2023: €2.26M▼ -3.3% vs 2022
2024: €2.60M▲ +15.3% vs 2023
2025: €2.90M▲ +11.4% vs 2024highest in 5 years
2021 → 2025
Net result
€4k▼ 75.4%
2024 · €17k
2021: €-19klowest in 5 years
2022: €-7k▲ +61.9% vs 2021
2023: €32k▲ +547% vs 2022highest in 5 years
2024: €17k▼ -45.5% vs 2023
2025: €4k▼ -75.4% vs 2024
2021 → 2025
Working capital
€-464k▼ 3.1%
2024 · €-449k
2021: €-224khighest in 5 years
2022: €-432k▼ -92.6% vs 2021
2023: €-371k▲ +14.1% vs 2022
2024: €-449k▼ -21.2% vs 2023
2025: €-464k▼ -3.1% vs 2024lowest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-14k-€-21k▼ 51.9%€11k€28k▲ 158%€33k▲ 15.1%
2021: €-14k
2022: €-21k▼ -51.9% vs 2021lowest in 5 years
2023: €11k▲ +153% vs 2022
2024: €28k▲ +158% vs 2023
2025: €33k▲ +15.1% vs 2024highest in 5 years
Operating result€-6k-€14k€77k▲ 453%€67k▼ 12.8%€66k▼ 1.8%
2021: €-6klowest in 5 years
2022: €14k▲ +325% vs 2021
2023: €77k▲ +453% vs 2022highest in 5 years
2024: €67k▼ -12.8% vs 2023
2025: €66k▼ -1.8% vs 2024
Net result€-19k-€-7k▲ 61.9%€32k€17k▼ 45.5%€4k▼ 75.4%
2021: €-19klowest in 5 years
2022: €-7k▲ +61.9% vs 2021
2023: €32k▲ +547% vs 2022highest in 5 years
2024: €17k▼ -45.5% vs 2023
2025: €4k▼ -75.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.90M
Fixed assets
€2.90M ▲ 11.5%
Current assets
€4k ▼ 17.7%
Equity and liabilities €2.90M
Equity
€33k ▲ 15.1%
Debt
€2.87M ▲ 11.4%
Debt's share of the balance-sheet total stays at 98.9%.
Key figures and ratios
EBITDA
€167k▲
2024 · €150k
Cash flow
€105k▲
2024 · €100k
Current ratio
0.01▼
2024 · 0.01
Debt to equity
87.68▼
2024 · 90.61
ROE
13.1%▼
2024 · 61.3%
ROA
0.1%▼
2024 · 0.7%
Interest coverage
2.70▼
2024 · 3.01
Debt ≤ 1 year
€468k▲
2024 · €454k
Debt > 1 year
€2.40M▲
2024 · €2.12M
Staff costs
€12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.60M€2.90M▲
Fixed assets21/28€2.60M€2.90M▲
Tangible fixed assets22/27€2.59M€2.89M▲
Land and buildings22€1.96M€2.29M▲
Plant, machinery and equipment23€8k€7k▼
Leasing and similar rights25€619k€592k▼
Financial fixed assets28€9k€9k=
Current assets29/58€5k€4k▼
Amounts receivable within one year40/41€2k€3k▲
Trade receivables40€2k€3k▲
Cash at bank and in hand54/58€994€1k▲
Deferred charges and accrued income490/1€2k€34▼
Equity and liabilities
Total equity and liabilities10/49€2.60M€2.90M▲
Equity10/15€28k€33k▲
Contributions10/11€5k€5k=
Profit (loss) carried forward14€23k€28k▲
Amounts payable17/49€2.57M€2.87M▲
Amounts payable after more than one year17€2.12M€2.40M▲
Financial debts170/4€2.11M€2.39M▲
Other amounts payable178/9€13k€7k▼
Amounts payable within one year42/48€454k€468k▲
Current portion of amounts payable after more than one year42€109k€136k▲
Trade debts44€29k€45k▲
Suppliers440/4€29k€45k▲
Taxes, remuneration and social security45-€1k
Remuneration and social security454/9-€1k
Other amounts payable47/48€317k€285k▼
Income statement
Code20242025
Remuneration, social security and pensions62-€12k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€82k€101k▲
Other operating charges640/8€20k€25k▲
Non-recurring operating charges66A€12k€11k▼
Gross operating margin9900€182k€215k▲
Operating profit (loss)9901€67k€66k▼
Financial income75/76B-€55
Recurring financial income75-€55
Financial charges65/66B€50k€62k▲
Recurring financial charges65€50k€62k▲
Profit (loss) for the period before taxes9903€17k€4k▼
Profit (loss) for the period9904€17k€4k▼
Profit (loss) for the period to be appropriated9905€17k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€23k€28k▲
Profit (loss) brought forward from the previous period14P€6k€23k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €12k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24k | €48k | €75k | €82k | €101k | ▲ 22.3% |
| Other operating charges640/8 | €6k | €10k | €18k | €20k | €25k | ▲ 25.3% |
| Non-recurring operating charges66A | - | €10k | - | €12k | €11k | ▼ 9.0% |
| Gross operating margin9900 | €24k | €82k | €170k | €182k | €215k | ▲ 18.3% |
| Operating profit (loss)9901 | €-6k | €14k | €77k | €67k | €66k | ▼ 1.8% |
| Financial income75/76B | €4 | - | €28 | - | €55 | - |
| Recurring financial income75 | €4 | - | €28 | - | €55 | - |
| Financial charges65/66B | €13k | €21k | €45k | €50k | €62k | ▲ 24.1% |
| Recurring financial charges65 | €13k | €21k | €45k | €50k | €62k | ▲ 24.1% |
| Profit (loss) for the period before taxes9903 | €-19k | €-7k | €32k | €17k | €4k | ▼ 75.4% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €-19k | €-7k | €32k | €17k | €4k | ▼ 75.4% |
| Profit (loss) for the period to be appropriated9905 | €-19k | €-7k | €32k | €17k | €4k | ▼ 75.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.36M | €2.33M | €2.26M | €2.60M | €2.90M | ▲ 11.4% |
| Fixed assets21/28 | €1.34M | €2.33M | €2.26M | €2.60M | €2.90M | ▲ 11.5% |
| Tangible fixed assets22/27 | €1.34M | €2.32M | €2.25M | €2.59M | €2.89M | ▲ 11.5% |
| Land and buildings22 | €919k | €1.65M | €1.60M | €1.96M | €2.29M | ▲ 16.5% |
| Plant, machinery and equipment23 | - | - | €2k | €8k | €7k | ▼ 11.1% |
| Leasing and similar rights25 | €417k | €671k | €645k | €619k | €592k | ▼ 4.2% |
| Financial fixed assets28 | €9k | €9k | €9k | €9k | €9k | = |
| Current assets29/58 | €11k | €6k | €2k | €5k | €4k | ▼ 17.7% |
| Amounts receivable within one year40/41 | €3k | - | - | €2k | €3k | ▲ 101% |
| Trade receivables40 | - | - | - | €2k | €3k | ▲ 101% |
| Other amounts receivable41 | €3k | - | - | - | - | - |
| Cash at bank and in hand54/58 | €3k | €6k | €2k | €994 | €1k | ▲ 1.6% |
| Deferred charges and accrued income490/1 | €5k | - | €587 | €2k | €34 | ▼ 98.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.36M | €2.33M | €2.26M | €2.60M | €2.90M | ▲ 11.4% |
| Equity10/15 | €-14k | €-21k | €11k | €28k | €33k | ▲ 15.1% |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Profit (loss) carried forward14 | €-19k | €-26k | €6k | €23k | €28k | ▲ 18.3% |
| Amounts payable17/49 | €1.37M | €2.35M | €2.25M | €2.57M | €2.87M | ▲ 11.4% |
| Amounts payable after more than one year17 | €1.13M | €1.92M | €1.87M | €2.12M | €2.40M | ▲ 13.2% |
| Financial debts170/4 | €1.13M | €1.91M | €1.86M | €2.11M | €2.39M | ▲ 13.5% |
| Other amounts payable178/9 | - | €8k | €11k | €13k | €7k | ▼ 45.9% |
| Amounts payable within one year42/48 | €235k | €438k | €373k | €454k | €468k | ▲ 2.9% |
| Current portion of amounts payable after more than one year42 | €56k | €85k | €88k | €109k | €136k | ▲ 25.5% |
| Trade debts44 | €467 | €11k | €23k | €29k | €45k | ▲ 55.7% |
| Suppliers440/4 | €467 | €11k | €23k | €29k | €45k | ▲ 55.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €1k | - |
| Remuneration and social security454/9 | - | - | - | - | €1k | - |
| Other amounts payable47/48 | €178k | €342k | €262k | €317k | €285k | ▼ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-19k | €-7k | €32k | €17k | €4k | ▼ 75.4% |
| + Depreciation and write-downs630 | €24k | €48k | €75k | €82k | €101k | ▲ 22.3% |
| Operating cash flow (approximation) | €6k | €41k | €107k | €100k | €105k | ▲ 5.3% |
| Investment in fixed assets (approximation) | - | €-1.03M | €-2k | €-424k | €-399k | ▲ 6.1% |
| Change in cash | - | €3k | €-4k | €-547 | €16 | ▲ 103% |
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
Next filing, fiscal year 2026, expected by
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
31-12
Financial
Back to profitnet €32k
Net result €32k after 2 loss-making years.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
15-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 15 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, Liège · 1 establishment unit since 2020
Ground area
315 m²
Building footprint
72 m²
Volume, LiDAR
492 m³
Parcel 62804D0225/00N002, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PAL-IMMO
since 20202.309.224.164
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62804D0225/00N002 | Wallonia | 315 m² | 1 · 72 m² | 8.4 m · 2 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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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 2,795 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
Founded19-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Contact
E-mail
info@rk-accountancy.com
Phone
042891867
Scores and ratios are computed by Checked and are not a credit decision.