PAMAX
ActiveSummary
The computed 12-month bankruptcy probability of PAMAX is 2.7% (moderate). The 2024 annual accounts show equity of €73k and a net result of €23k. Equity is growing by ~58.4% per year across the filed fiscal years. Its solvency ranks better than 20% of 36375 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability76▼-21
Solvency43▼-14
Growth78=
Track record94
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 6.08 against 4.0 in 2023; short-term debt: 15% and cash: 26.3% of total assets), but 81.6% of the assets are financed with debt.
Credit check for your own amount and term
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
18.4%
Return on assets
5.8%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-10-2025, 71 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
not confirmed
2024
71 d late
2023
61 d late
2022
24 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€73k▲ 46.4%
2023 · €50k
Total assets
€397k▲ 156%
2023 · €155k
Net result
€23k▼ 34.0%
2023 · €35k
Working capital
€302k▲ 249%
2023 · €86k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202220232024
Operating result€12k-€47k▲ 280%€30k▼ 35.5%
Net result€9k-€35k▲ 304%€23k▼ 34.0%
Equity€15k-€50k▲ 238%€73k▲ 46.4%
Total assets€115k-€155k▲ 34.6%€397k▲ 156%
Debt€101k-€106k▲ 4.8%€324k▲ 207%
Working capital€36k-€86k▲ 140%€302k▲ 249%
Staff (FTE)1
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 36% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €397k
Fixed assets
€36k ▼ 10.1%
Current assets
€361k ▲ 213%
Equity and liabilities €397k
Equity
€73k ▲ 46.4%
Debt
€324k ▲ 207%
Debt's share of the balance-sheet total rises from 67.9% to 81.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€41k▼
2023 · €57k
Cash flow
€34k▼
2023 · €45k
Current ratio
6.08▲
2023 · 4.00
Quick ratio
5.90▲
2023 · 3.64
Debt to equity
4.44▲
2023 · 2.11
ROE
31.7%▼
2023 · 70.4%
ROA
5.8%▼
2023 · 22.6%
Interest coverage
30.15▲
2023 · 28.02
Debt ≤ 1 year
€59k▲
2023 · €29k
Debt > 1 year
€17k▼
2023 · €27k
Income taxes
€8k▼
2023 · €10k
Staff costs
€38k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €38k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €10k | €11k | ▲ 10.8% |
| Other operating charges640/8 | €513 | €64 | €441 | ▲ 594% |
| Gross operating margin9900 | €16k | €57k | €80k | ▲ 40.5% |
| Operating profit (loss)9901 | €12k | €47k | €30k | ▼ 35.5% |
| Financial income75/76B | €26 | €23 | €2k | ▲ 9,020% |
| Recurring financial income75 | €26 | €23 | €2k | ▲ 9,020% |
| Financial charges65/66B | €761 | €2k | €1k | ▼ 32.7% |
| Recurring financial charges65 | €761 | €2k | €1k | ▼ 32.7% |
| Profit (loss) for the period before taxes9903 | €12k | €45k | €31k | ▼ 31.1% |
| Income taxes67/77 | €3k | €10k | €8k | ▼ 20.8% |
| Profit (loss) for the period9904 | €9k | €35k | €23k | ▼ 34.0% |
| Profit (loss) for the period to be appropriated9905 | €9k | €35k | €23k | ▼ 34.0% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €115k | €155k | €397k | ▲ 156% |
| Fixed assets21/28 | €45k | €40k | €36k | ▼ 10.1% |
| Tangible fixed assets22/27 | €45k | €40k | €36k | ▼ 10.1% |
| Plant, machinery and equipment23 | €6k | €9k | €11k | ▲ 30.0% |
| Furniture and vehicles24 | €2k | €3k | €3k | ▲ 25.4% |
| Leasing and similar rights25 | €36k | €29k | €21k | ▼ 25.8% |
| Current assets29/58 | €71k | €115k | €361k | ▲ 213% |
| Stocks and contracts in progress3 | €28k | €10k | €10k | ▲ 2.1% |
| Stocks30/36 | €28k | €10k | €10k | ▲ 2.1% |
| Amounts receivable within one year40/41 | €26k | €59k | €215k | ▲ 267% |
| Trade receivables40 | €21k | €48k | €200k | ▲ 320% |
| Other amounts receivable41 | €4k | €11k | €15k | ▲ 36.1% |
| Cash at bank and in hand54/58 | €17k | €7k | €104k | ▲ 1,336% |
| Deferred charges and accrued income490/1 | - | €39k | €31k | ▼ 20.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €115k | €155k | €397k | ▲ 156% |
| Equity10/15 | €15k | €50k | €73k | ▲ 46.4% |
| Contributions10/11 | €7k | €7k | €7k | = |
| Reserves13 | €5k | €40k | €60k | ▲ 50.0% |
| Distributable reserves133 | €5k | €40k | €60k | ▲ 50.0% |
| Profit (loss) carried forward14 | €3k | €3k | €6k | ▲ 109% |
| Amounts payable17/49 | €101k | €106k | €324k | ▲ 207% |
| Amounts payable after more than one year17 | €29k | €27k | €17k | ▼ 38.6% |
| Financial debts170/4 | €29k | €27k | €17k | ▼ 38.6% |
| Amounts payable within one year42/48 | €35k | €29k | €59k | ▲ 106% |
| Current portion of amounts payable after more than one year42 | €8k | €11k | €10k | ▼ 1.2% |
| Trade debts44 | €7k | €39 | €77 | ▲ 95.5% |
| Suppliers440/4 | €7k | €39 | €77 | ▲ 95.5% |
| Taxes, remuneration and social security45 | €5k | €18k | €49k | ▲ 174% |
| Taxes450/3 | €5k | €18k | €42k | ▲ 136% |
| Remuneration and social security454/9 | - | - | €7k | - |
| Other amounts payable47/48 | €14k | €397 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €37k | €50k | €248k | ▲ 401% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €9k | €35k | €23k | ▼ 34.0% |
| + Depreciation and write-downs630 | €3k | €10k | €11k | ▲ 10.8% |
| Operating cash flow (approximation) | €12k | €45k | €34k | ▼ 24.2% |
| Investment in fixed assets (approximation) | - | €-5k | €-7k | ▼ 31.5% |
| Change in cash | - | €-10k | €97k | ▲ 1,113% |
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
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 71 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Highest result since 2022net €35k ▲304%
Operating result €47k, net result €35k, both a record.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Merchtem · 1 establishment unit since 2022
Ground area
375 m²
Building footprint
131 m²
Volume, LiDAR
652 m³
Parcel 23012B0014/00A003, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PAMAX
since 20222.330.495.274
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23012B0014/00A003 | Flanders | 375 m² | 1 · 131 m² | 9.3 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 293 EUR awarded · 293 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 293 EUR | 293 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
SEM BUILDING
BE 0834.350.349
Schaarbeek · Eq €73,031
GRACEFFA ELEC
BE 0713.968.005
La Louvière · Eq €72,984
M&H Verwarming
BE 0718.869.968
Antwerpen · Eq €73,172
JV CHAUFFAGE
BE 0644.727.821
Bernissart · Eq €73,200
BERNA
BE 0438.463.952
Harelbeke · Eq €73,290
Of 9,534 companies in sector 43222 we hold annual accounts for 5,664. 4,802 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
Founded14-04-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
43212Electrical installation work in industrial facilities
43221Plumbing work
43230Insulation installation
43410Roofing work
Scores and ratios are computed by Checked and are not a credit decision.