PASCALEC
ActiveSummary
PASCALEC has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18,600 and a net result of €5,307. Equity is shrinking by about 20% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2028. Its solvency ranks better than 34% of 34,747 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Staff
- 0.9 FTE
- Equity
- €18,600
- Profit
- €5,307
Why 88raises riskSector: Specialised construction activities (NACE 43)Last filed accounts filed 28 days latelowers riskLiquidity: current ratio 1.39, cash €33,421Founded in 2013Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 34% on solvency, 62% on liquidity, 60% on profitability and 10% on growth.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 4 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet €5,307 ▼80.2%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (28 days) Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00440046.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 76% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 34,693 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,445 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% | 0.9% |
| 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 74.5% 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 34,693 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €29 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €36,552 | €43,604 | €18,379 | €54,801 | €29,455 | ▼ 46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,000 | €4,000 | €4,352 | €4,700 | €5,047 | €4,469 | €2,341 | €3,119 | ▲ 33.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €1,976 | €2,152 | €1,340 | €1,394 | €1,572 | ▲ 12.8% |
| Non-recurring operating charges66A | - | - | - | - | €72 | €0 | - | - | - |
| Gross operating margin9900 | €56,383 | €65,772 | €60,730 | €73,429 | €68,942 | €40,319 | €94,569 | €42,937 | ▼ 54.6% |
| Operating profit (loss)9901 | €24,366 | €33,570 | €26,378 | €30,202 | €18,067 | €16,131 | €36,033 | €8,791 | ▼ 75.6% |
| Financial income75/76B | - | - | - | €3,911 | €7,131 | €7,556 | €15 | €717 | ▲ 47× |
| Recurring financial income75 | €6,144 | €7,526 | €7,518 | €3,911 | €28 | €529 | €15 | €217 | ▲ 14× |
| Non-recurring financial income76B | - | - | - | - | €7,103 | €7,027 | €0 | €500 | - |
| Financial charges65/66B | - | - | - | €952 | €1,220 | €2,193 | €1,750 | €1,865 | ▲ 6.6% |
| Recurring financial charges65 | €2,152 | €1,673 | €1,183 | €952 | €1,220 | €2,193 | €1,750 | €1,865 | ▲ 6.6% |
| Profit (loss) for the period before taxes9903 | €28,359 | €39,423 | €32,713 | €33,160 | €23,978 | €21,493 | €34,298 | €7,643 | ▼ 77.7% |
| Income taxes67/77 | €6,035 | €9,327 | €7,565 | €7,987 | €6,632 | €5,049 | €7,547 | €2,336 | ▼ 69.0% |
| Profit (loss) for the period9904 | €22,324 | €30,096 | €25,148 | €25,174 | €17,346 | €16,444 | €26,751 | €5,307 | ▼ 80.2% |
| Profit (loss) for the period to be appropriated9905 | €22,324 | €30,096 | €25,148 | €25,174 | €17,346 | €16,444 | €26,751 | €5,307 | ▼ 80.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €230,376 | €222,177 | €247,554 | €100,425 | €87,663 | €94,875 | €93,401 | €57,746 | ▼ 38.2% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €19,000 | €15,000 | €12,748 | €8,048 | €9,402 | €1,960 | €6,458 | €3,338 | ▼ 48.3% |
| Intangible fixed assets21 | €19,000 | €15,000 | €11,000 | €7,000 | €3,000 | €0 | - | - | - |
| Tangible fixed assets22/27 | €0 | - | €1,748 | €1,048 | €6,402 | €1,960 | €6,458 | €3,338 | ▼ 48.3% |
| Plant, machinery and equipment23 | - | - | - | - | €3,081 | €1,960 | €1,804 | €518 | ▼ 71.3% |
| Furniture and vehicles24 | - | - | - | €1,048 | €3,321 | €0 | €4,653 | €2,820 | ▼ 39.4% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €211,376 | €207,177 | €234,806 | €92,377 | €78,261 | €92,915 | €86,944 | €54,408 | ▼ 37.4% |
| Amounts receivable after more than one year29 | - | - | - | €28,000 | €0 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €28,000 | €0 | - | - | - | - |
| Stocks and contracts in progress3 | €886 | €982 | €2,792 | €2,617 | €1,998 | €4,593 | €3,588 | €2,887 | ▼ 19.5% |
| Stocks30/36 | - | - | - | €2,617 | €1,998 | €4,593 | €3,588 | €2,887 | ▼ 19.5% |
| Amounts receivable within one year40/41 | €70,207 | €10,867 | €17,964 | €20,330 | €23,830 | €5,618 | €23,750 | €12,359 | ▼ 48.0% |
| Trade receivables40 | - | - | - | €4,788 | €9,474 | €1,211 | €10,525 | €5,073 | ▼ 51.8% |
| Other amounts receivable41 | - | - | - | €15,542 | €14,356 | €4,407 | €13,225 | €7,286 | ▼ 44.9% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €9,620 | €14,585 | €32,891 | €39,392 | €51,018 | €75,165 | €53,189 | €33,421 | ▼ 37.2% |
| Deferred charges and accrued income490/1 | - | - | - | €2,038 | €1,415 | €7,539 | €6,416 | €5,741 | ▼ 10.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €230,376 | €222,177 | €247,554 | €100,425 | €87,663 | €94,875 | €93,401 | €57,746 | ▼ 38.2% |
| Equity10/15 | €157,902 | €187,998 | €46,146 | €39,319 | €36,666 | €34,806 | €34,806 | €18,600 | ▼ 46.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €18,066 | €16,206 | €16,206 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | €16,206 | €16,206 | €16,206 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €137,442 | €167,538 | €25,686 | €18,859 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €72,474 | €34,179 | €201,408 | €61,106 | €50,998 | €60,070 | €58,596 | €39,146 | ▼ 33.2% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €72,474 | €34,179 | €201,408 | €61,106 | €50,998 | €60,070 | €58,596 | €39,146 | ▼ 33.2% |
| Financial debts43 | - | - | - | €6,000 | €6,000 | €6,000 | €6,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €6,000 | €6,000 | €6,000 | €6,000 | €0 | ▼ 100% |
| Trade debts44 | €13,631 | €12,533 | €14,716 | €11,882 | €13,682 | €30,664 | €17,380 | €15,667 | ▼ 9.9% |
| Suppliers440/4 | - | - | - | €11,882 | €13,682 | €30,664 | €17,380 | €15,667 | ▼ 9.9% |
| Advances received on contracts in progress46 | - | - | - | - | €100 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €6,700 | €10,374 | €3,214 | €3,460 | €1,966 | ▼ 43.2% |
| Taxes450/3 | - | - | - | €1,793 | €2,535 | €2,101 | €0 | - | - |
| Remuneration and social security454/9 | - | - | - | €4,907 | €7,839 | €1,114 | €3,460 | €1,966 | ▼ 43.2% |
| Other amounts payable47/48 | - | - | - | €36,524 | €20,842 | €20,192 | €31,756 | €21,513 | ▼ 32.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,324 | €30,096 | €25,148 | €25,174 | €17,346 | €16,444 | €26,751 | €5,307 | ▼ 80.2% |
| + Depreciation and write-downs630 | €4,000 | €4,000 | €4,352 | €4,700 | €5,047 | €4,469 | €2,341 | €3,119 | ▲ 33.2% |
| Operating cash flow (approximation) | €26,324 | €34,096 | €29,500 | €29,874 | €22,393 | €20,913 | €29,093 | €8,427 | ▼ 71.0% |
| Investment in fixed assets (approximation) | - | €0 | -€2,100 | €0 | -€6,401 | €2,973 | -€6,839 | €0 | - |
| Change in cash | - | €4,964 | €18,306 | €6,502 | €11,626 | €24,147 | -€21,976 | -€19,769 | ▲ 10.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00440046 |
| 31-12-2024 | micro format | 19-08-2025 | 2025-00382425 |
| 31-12-2023 | micro format | 17-07-2024 | 2024-00267015 |
| 31-12-2022 | micro format | 14-07-2023 | 2023-00247273 |
| 31-12-2021 | micro format | 15-07-2022 | 2022-20208313 |
| 31-12-2020 | micro format | 23-06-2021 | 2021-24800208 |
| 31-12-2019 | micro format | 07-10-2020 | 2020-60200170 |
| 31-12-2018 | micro format | 21-08-2019 | 2019-48300503 |
| 31-12-2017 | micro format | 30-08-2018 | 2018-56900512 |
| 31-12-2016 | micro format | 04-07-2017 | 2017-27100374 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Pascal VANHERREWEGHEN |
|
| Nancy HAJDU |
|
Owners and capital
Capital and shareholders
- 28-12-2023 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
28-12
Gazette deed
Resignations: Pascal VANHERREWEGHEN (manager) and Nancy HAJDU (administrateur suppléant)Reappointment: Pascal VANHERREWEGHEN (administrateur non statutaire) · Capital conversion · Reserve release13 facts ▸
- General meeting, 20-12-2023
- Other provision, “adaptation statuts au Code des sociétés et des associations et maintien forme SRL, adapter statuts” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Reserve release, “suppression compte de capitaux propres statutairement indisponible, formes et majorités modification des statuts” (deed in French)
- Other provision, “rapport organe d'administration article 5:101 CSA justification modification objet, prise de connaissance” (deed in French)
- Purpose change
- Amendment of the articles
- Capital
- Director resignation, Pascal VANHERREWEGHEN (manager)
- Director reappointment, Pascal VANHERREWEGHEN (administrateur non statutaire)
- Director resignation, Nancy HAJDU (administrateur suppléant)
- Registered office clause, “6044 Roux, Rue Major Housiaux”, 35 (deed in French)
- +1 further fact in this act
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0536.800.572
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 52061A0229/00R000 | Wallonia | 412 m² | 1 · 92 m² | 9.7 m · 3 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PASCALEC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration, assemblée qui nomme fixe nombre,durée et en cas de pluralité pouvoirs” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Nullité à défaut d'agrément, actif net ayant servi base calcul valeur parts” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Modifications statuts, assemblée_générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Administrateurs_en_fonction_si_aucun_autre_désigné” (deed in French)