PALCO
ActiveSummary
The computed 12-month bankruptcy probability of PALCO is 2.0% (moderate). The 2025 annual accounts show negative equity (-€334,458) and a net result of -€79,709. Equity is shrinking by ~61.1% per year across the filed fiscal years. Its solvency ranks better than 14% of 1347 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
What they do
Hotels and similar accommodation
NACE 55100NACE 68100Buying and selling of own real estate NACE 68110
1 site
How big
€1.1mtotal assets 2025
- Equity
- -€334,458
- Loss
- -€79,709
Turnover not published (abridged schema)
Who decides
Accounts filed 21 d late0 of 3 deeds read
Why 22- Limited track record- Annual accounts: weaker financial profile- Higher-failure-rate sector- Negative equityFiled after the deadlineShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability9▲+9
Solvency0=
Growth32=
Track record94
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.79 against 0.76 in 2024; short-term debt: 124.4% and cash: 0.3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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
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
-31.6%
Return on assets
-7.5%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
232425
2023 to 2025 · latest year -€334,458
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 21-11-2025, 21 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 · 3 filingsDeviation from the deadline
2025
21 d late
2024
1 d early
2023
15 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 12 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 15 November (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close01-10-2026 today31-10-2026 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Weakest financial yearnet -€231,540
Financials
Fiscal year 2025Total assets €1.1mLoss -€79,709Solvency -31.6%Liquidity 0.79
Total assets
€1.1m▲ 80.9%
2023 - 2025
Net result
-€79,709▲ 65.6%
2023 - 2025
Equity
-€334,458▼ 31.3%
2023 - 2025
Staff (FTE)
2.1
2023
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 55, Accommodation, 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
Line202320242025
Operating result-€0.07m--€0.2m▼ 217%-€0.08m▲ 65.6%
Net result-€0.07mbelow the sector's middle half--€0.2mbelow the sector's middle half▼ 216%-€0.08mbelow the sector's middle half▲ 65.6%
Equity-€0.02mbelow the sector's middle half--€0.3mbelow the sector's middle half▼ 998%-€0.3mbelow the sector's middle half▼ 31.3%
Total assets€0.2mwithin the sector's middle half-€0.6mwithin the sector's middle half▲ 140%€1.1mabove the sector's middle half▲ 80.9%
Debt€0.3m-€0.8m▲ 215%€1.4m▲ 65.9%
Working capital-€0.2mbelow the sector's middle half--€0.2mbelow the sector's middle half▼ 14.4%-€0.3mbelow the sector's middle half▼ 47.7%
Solvency-9.5%below the sector's middle half--43.5%below the sector's middle half▼ 34.0pp-31.6%below the sector's middle half▲ 11.9pp
Current ratio0.15below the sector's middle half-0.76within the sector's middle half▲ 0.610.79within the sector's middle half▲ 0.03
Return on assets (ROA)-30.1%below the sector's middle half--39.5%below the sector's middle half▼ 9.5pp-7.5%below the sector's middle half▲ 32.0pp
Staff (FTE)2.1-
above
within
below
the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the 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 €79,624 in 2025 against €231,561 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€16,603 ▲ 351%
Current assets
€1.0m ▲ 79.5%
Equity and liabilities
Equity-€334,458
Debt€1.4m
Equity is negative: debt (€1.4m) exceeds the balance-sheet total (€1.1m).
Key figures and ratios
Key figures and ratios
EBITDA
-€76,429▲
2024 · -€230,099
Cash flow
-€76,514▲
2024 · -€230,078
Quick ratio
0.01▼
2024 · 0.02
Interest coverage
-592.29▲
2024 · -1672.23
Debt ≤ 1 year
€1.3m▲
2024 · €767,137
Debt > 1 year
€70,000=
2024 · €70,000
Staff costs
€20,218▼
2024 · €26,310
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,167 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- negative equity
- a small loss
2.0%
went bankrupt
2.8%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% 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 1,167 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 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €14,000 | €160 | €3,688 | ▲ 2,209% |
| Remuneration, social security and pensions62 | €49,761 | €26,310 | €20,218 | ▼ 23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,566 | €1,462 | €3,195 | ▲ 118% |
| Other operating charges640/8 | €14,388 | €5,300 | €513 | ▼ 90.3% |
| Non-recurring operating charges66A | - | €187,141 | €733 | ▼ 99.6% |
| Gross operating margin9900 | €28,714 | -€11,348 | -€54,965 | ▼ 384% |
| Operating profit (loss)9901 | -€73,001 | -€231,561 | -€79,624 | ▲ 65.6% |
| Financial income75/76B | €11 | €159 | €44 | ▼ 72.3% |
| Recurring financial income75 | €11 | €159 | €44 | ▼ 72.3% |
| Financial charges65/66B | €218 | €138 | €129 | ▼ 6.2% |
| Recurring financial charges65 | €218 | €138 | €129 | ▼ 6.2% |
| Profit (loss) for the period before taxes9903 | -€73,208 | -€231,540 | -€79,709 | ▲ 65.6% |
| Profit (loss) for the period9904 | -€73,208 | -€231,540 | -€79,709 | ▲ 65.6% |
| Profit (loss) for the period to be appropriated9905 | -€73,208 | -€231,540 | -€79,709 | ▲ 65.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.2m | €0.6m | €1.1m | ▲ 80.9% |
| Formation expenses20 | €0.002m | €0.001m | €0.001m | ▼ 47.2% |
| Fixed assets21/28 | €0.2m | €0.004m | €0.02m | ▲ 351% |
| Intangible fixed assets21 | €0.03m | - | - | - |
| Tangible fixed assets22/27 | €0.2m | €0.003m | €0.02m | ▲ 372% |
| Plant, machinery and equipment23 | €0.1m | €0.003m | €0.003m | ▲ 17.3% |
| Furniture and vehicles24 | €0.002m | €0.001m | €0.01m | ▲ 2,457% |
| Other tangible fixed assets26 | €0.06m | - | - | - |
| Financial fixed assets28 | €0.02m | €207 | €207 | = |
| Current assets29/58 | €0.03m | €0.6m | €1.0m | ▲ 79.5% |
| Stocks and contracts in progress3 | - | €0.6m | €1.0m | ▲ 83.2% |
| Stocks30/36 | - | €0.6m | €1.0m | ▲ 83.2% |
| Amounts receivable within one year40/41 | €0.02m | €0.008m | €0.004m | ▼ 48.3% |
| Trade receivables40 | - | €0.002m | - | - |
| Other amounts receivable41 | €0.02m | €0.006m | €0.004m | ▼ 31.9% |
| Cash at bank and in hand54/58 | €0.01m | €0.008m | €0.004m | ▼ 53.7% |
| Deferred charges and accrued income490/1 | €310 | €353 | €495 | ▲ 40.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.2m | €0.6m | €1.1m | ▲ 80.9% |
| Equity10/15 | -€0.02m | -€0.3m | -€0.3m | ▼ 31.3% |
| Contributions10/11 | €0.05m | €0.05m | €0.05m | = |
| Profit (loss) carried forward14 | -€0.07m | -€0.3m | -€0.4m | ▼ 26.2% |
| Amounts payable17/49 | €0.3m | €0.8m | €1.4m | ▲ 65.9% |
| Amounts payable after more than one year17 | €0.07m | €0.07m | €0.07m | = |
| Financial debts170/4 | €0.07m | €0.07m | €0.07m | = |
| Amounts payable within one year42/48 | €0.2m | €0.8m | €1.3m | ▲ 71.7% |
| Trade debts44 | €0.004m | €136 | €0.02m | ▲ 13,468% |
| Suppliers440/4 | €0.004m | €136 | €0.02m | ▲ 13,468% |
| Taxes, remuneration and social security45 | €0.002m | €0.008m | €0.003m | ▼ 68.2% |
| Taxes450/3 | €0.001m | €0.007m | €87 | ▼ 98.8% |
| Remuneration and social security454/9 | €0.001m | €0.001m | €0.003m | ▲ 152% |
| Other amounts payable47/48 | €0.2m | €0.8m | €1.3m | ▲ 70.9% |
| Accrued charges and deferred income492/3 | €0.006m | €0.003m | €0.006m | ▲ 99.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€73,208 | -€231,540 | -€79,709 | ▲ 65.6% |
| + Depreciation and write-downs630 | €37,566 | €1,462 | €3,195 | ▲ 118% |
| Operating cash flow (approximation) | -€35,642 | -€230,078 | -€76,514 | ▲ 66.7% |
| Investment in fixed assets (approximation) | - | €208,481 | -€16,114 | ▼ 108% |
| Change in cash | - | -€4,240 | -€4,224 | ▲ 0.4% |
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 and region
ABBYS-Oostende
BE 0455.929.791
Oostende
ALPHA HOTEL
BE 0863.352.458
Oostende
ANDROWEST
BE 0598.702.509
Oostende
BTW - eenheid Alpha Hotel
BE 1010.284.989
Oostende
BTW Eenheid Du Parc
BE 0800.646.710
Oostende
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,393 companies in this sector we hold annual accounts for 1,519. See the whole sector
Timeline
4 eventsLatest 21-11-2025Next filing 31-10-2026
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
21-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Weakest financial yearnet -€231,540
Net result drops to -€231,540, the lowest in the series; recovery starts the following year.
2023
15-11
NBB filing
Annual accounts filed
fiscal year 2023 · 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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Support & recognitions
1 register with a recognitionLEI issued
LEI
active
894500QAB1XPN815DG51
Recognitions · licences · registrations
Legal Entity Identifier
894500QAB1XPN815DG51
Company details
Private limited company · founded 01-04-2021Year ends 31-03Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded01-04-2021
Fiscal year end31-03
Activities, NACEBEL 2025
55100Hotels and similar accommodation
68110Buying and selling of own real estate
96101Personal service activities
96102Launderettes and laundries for private customers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0765980888
Also
9925:BE0765980888
Registered
29-05-2026
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, Oostende · 1 establishment unit since 2021
Ground area
5,159 m²
Building footprint
2,222 m²
Volume, LiDAR
37,510 m³
Parcel 35384A0089/00P040, Flanders · tallest building 27.3 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
17 Oktoberstraat 3, 8400 Oostende
since 2021unit no. 2.316.159.169
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35384A0089/00P040 | Flanders | 5,159 m² | 1 · 2,222 m² | 27.3 m · 6 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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