PAV DELCO
ActiveThe computed 12-month bankruptcy probability of PAV DELCO is 5.4% (elevated). The 2026 annual accounts show negative equity (€-81k) and a net result of €-15k. Equity is shrinking by ~57% per year across the filed fiscal years. Its solvency ranks better than 10% of 58 sector peers (fiscal year 2026). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2026
25
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2025
Profitability44▼-39
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
5.4%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.52 against 0.41 in 2025; short-term debt: 139.9% and cash: 11.2% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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 2026Solvency, return and age of the figures
Solvency
-116.8%
Return on assets
-21.7%
Age of the figures
6 mo
raises risk · Negative equity
The 2026 annual accounts show negative equity and a net loss.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year €-81k
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 15-09-2026, 46 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2026
46 d early
2025
42 d early
2024
109 d late
2023
on the day
2022
3 d early
2021
2 d early
2020
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-03-2027 close31-10-2027 deadline
Financials · fiscal year 2026, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-15k
2025 · €9k
2019: €-22k
2020: €-28k
2021: €13k
2022: €-26k
2023: €-16k
2024: €-35k
2025: €9k
2019 → 2026
Working capital
€-46k▼ 1.9%
2025 · €-45k
2019: €9k
2020: €-12k
2021: €943
2022: €-17k
2023: €-25k
2024: €-58k
2025: €-45k
2019 → 2026
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Equity€-15k-€-31k▼ 109%€-75k▼ 139%€-66k▲ 12.4%€-81k▼ 22.9%
Operating result€-20k-€-10k▲ 49.3%€-27k▼ 164%€17k€-11k
Net result€-26k-€-16k▲ 37.3%€-35k▼ 111%€9k€-15k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2026: a loss of €11k after €17k in 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €69k
Fixed assets
€19k▼ 63.5%
Current assets
€50k▲ 59.6%
Key figures and ratios
EBITDA
€22k▼
2025 · €50k
Cash flow
€17k▼
2025 · €42k
Solvency
-116.8%▼
2025 · -79.4%
Current ratio
0.52▲
2025 · 0.41
Quick ratio
0.52▲
2025 · 0.41
Debt / equity
-1.86▲
2025 · -2.26
ROA
-21.7%▼
2025 · 11.3%
Interest coverage
5.25▼
2025 · 9.23
Debt
€150k▲
2025 · €148k
Debt ≤ 1 year
€97k▲
2025 · €77k
Debt > 1 year
€53k▼
2025 · €71k
Income taxes
€211▼
2025 · €2k
Staff costs
€75k▼
2025 · €87k
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 · 2026 against 2025
Balance sheet
Code20252026
Assets
Total assets20/58€83k€69k▼
Fixed assets21/28€51k€19k▼
Intangible fixed assets21€47k€16k▼
Tangible fixed assets22/27€4k€3k▼
Plant, machinery and equipment23€107-
Furniture and vehicles24€0-
Other tangible fixed assets26€4k€3k▼
Current assets29/58€32k€50k▲
Amounts receivable within one year40/41€30k€40k▲
Trade receivables40€22k€27k▲
Other amounts receivable41€8k€13k▲
Cash at bank and in hand54/58€1k€8k▲
Deferred charges and accrued income490/1-€3k
Equity and liabilities
Total equity and liabilities10/49€83k€69k▼
Equity10/15€-66k€-81k▼
Contributions10/11€25k€25k=
Reserves13€1k€1k=
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Profit (loss) carried forward14€-92k€-107k▼
Amounts payable17/49€148k€150k▲
Amounts payable after more than one year17€71k€53k▼
Financial debts170/4€71k€53k▼
Amounts payable within one year42/48€77k€97k▲
Current portion of amounts payable after more than one year42€28k€21k▼
Financial debts43€5k-
Credit institutions430/8€5k-
Trade debts44€37k€45k▲
Suppliers440/4€37k€45k▲
Taxes, remuneration and social security45€7k€30k▲
Taxes450/3€0€4k▲
Remuneration and social security454/9€7k€26k▲
Income statement
Code20252026
Remuneration, social security and pensions62€87k€75k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€32k▼
Other operating charges640/8€8k€7k▼
Operating charges capitalised as restructuring costs649€0-
Gross operating margin9900€145k€103k▼
Operating profit (loss)9901€17k€-11k▼
Financial income75/76B€3€230▲
Recurring financial income75€3€230▲
Financial charges65/66B€5k€4k▼
Recurring financial charges65€5k€4k▼
Profit (loss) for the period before taxes9903€11k€-15k▼
Income taxes67/77€2k€211▼
Profit (loss) for the period9904€9k€-15k▼
Profit (loss) for the period to be appropriated9905€9k€-15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-92k€-107k▼
Profit (loss) brought forward from the previous period14P€-101k€-92k▲
The notes to these accounts (11 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 2027, expected by
2026
15-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
19-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €9k
Net result €9k after 3 loss-making years.
17-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 109 days late
2024
31-03
Financial
Weakest financial yearnet €-35k
Net result drops to €-35k, the lowest in the series; recovery starts the following year.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Back to profitnet €13k
Net result €13k after 2 loss-making years.
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
26-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Oudergem · 1 establishment unit since 2016
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.
Vorstlaan 1171160 OudergemGround area
478 m²
Building footprint
36 m²
Volume, LiDAR
155 m³
Parcel 21332B0435/00G014, Brussels · tallest building 7.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
PAV DELCO
since 20162.258.417.940
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0435/00G014 | Brussels | 478 m² | 1 · 36 m² | 7.2 m · 1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteOudergem2.258.417.940
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LE BIENVENU
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BE 0809.958.413
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LEIS RS
BE 0728.477.522
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DE HOEVE +
BE 1006.670.057
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,455. 7,368 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-10-2016
Fiscal year end31-03
Activities, NACEBEL
56101Full-service restaurants
56102Limited-service restaurants
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
46190Agents in non-specialised wholesale trade
56210Event catering
56220Contract catering and other food service activities
56290Food and beverage service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.